Monday, January 31, 2011

2/1 Almanac

On Tuesday, Feb. 1: Manufacturing, auto sales, construction spending.

There are 18 days before the February options expire, 46 the March and 74 the April.

On the jump, market stats, econ reports, and the trading calendar . . .


Blue chip stocks (SPY) closed the latest regular session up 0.8% from the prior close. During the day SPY traversed 0.8% in a net move up of 0.5%.

The day's extremes: Open $128.07, high $128.78, low $127.75, close $128.68.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $128.22-$129.25.

In total, 3.1 billion shares were traded on the three major U.S. stock exchange, 14% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.31%, up six basis points from the prior trading day.

Econ reports:

The Institute of Supply Management releases its manufacturing index at 10 a.m. Eastern, motor vehicle sales throughout the day, and a couple of weekly retail reports: ICSC-Goldman store sales at 7:45 a.m. and Redbook at 8:55 a.m.

Treasury auctions 4-week bills at 11:30 a.m.

Trading Calendar:

By my rules, at this point in the cycle I can trade March vertical and calendar spreads. Also, April or later straddles, calls and puts. And of course, shares are good at any time.

What I'm looking for:
  • SBUX: Exit on retracement. Analysis.
  • XLE: Possibly add to my existing positions.

Click here for stocks on my Watchlist.

Good trading!

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