Wednesday, February 9, 2011

2/10 Almanac

On Thursday, Feb. 10: Weekly jobless claims.

There are 9 days before the February options expire, 37 the March and 65 the April.

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


Blue chip stocks (SPY) closed the latest regular session down 0.2% from the prior close. During the day SPY traversed 0.8% in a net move up of 0.05%.

The day's extremes: Open $132.21, high $132.63, low $131.61, close $132.27.

SPY closed within the DeMark pivots after trading below their range. The next DeMark pivots are $131.94-$132.96.

In total, 2.9 billion shares were traded on the three major U.S. stock exchange, 6% more than on the prior trading day.

Five-year bond yields imply inflation at 2.33%, down 3 basis points from the prior trading day.

Econ reports:

Weekly jobless claims out at 8:30 a.m.Eastern. Often a market-mover.

Lesser reports: Wholesale trade at 10 a.m., natural gas at 10:30 a.m., Treasury budget at 2 p.m. and the Federal Reserve's balance sheet and money supply at 4:30 p.m.

Treasury auctions 30-year bonds at 1 p.m.

Atlanta Fed President Dennis Lockhart participates in a panel discussion on managing public debt. He is a non-voting member of the Federal Open Market Committee.

The Federal Reserve often posts transcripts of speeches and testimony within a few days of the event.

Trading Calendar:

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

Good trading!

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