Thursday, February 10, 2011

2/11 Almanac

On Friday, Feb. 11: International trade, consumer sentiment.

There are 8 days before the February options expire, 36 the March and 64 the April.

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


Blue chip stocks (SPY) closed the latest regular session up 0.04% from the prior close. During the day SPY traversed 0.9% in a net move up of 0.6%.

The day's extremes: Open $131.60, high $132.47, low $131.30, close $132.32.

SPY closed within the DeMark pivots after trading below their range. The next DeMark pivots are $131.81-$132.98.

In total, 3.5 billion shares were traded on the three major U.S. stock exchange, 23% more than on the prior trading day.

Five-year bond yields imply inflation at 2.31%, down 2 basis points from the prior trading day.

Econ reports:

The Commerce Dept. reports on international trade at 8:30 a.m. Eastern. This report shows how much more we're buying from elsewhere than we're sending to elsewhere.

The University of Michigan's consumer sentiment survey will be released at 9:55 a.m. The methodology of this study of public attitudes differs from that of the government's consumer confidence survey.

Fed governor Sarah Bloom Raskin gives a speech. She is a 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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