Thursday, February 17, 2011

2/18 Almanac

On Friday, Feb. 18: No econ.

It is the last trading day before the February options expire. There are 29 days before March options expire and 57 the April.

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


Blue chip stocks (SPY) closed the latest regular session up 0.3% from the prior close. During the day SPY traversed 0.8% in a net move up of 0.6%.

The day's extremes: Open $133.46, high $134.43, low $133.34, close $134.25.

SPY traded both above and below the DeMark pivots before closing within their range. The next DeMark pivots are $133.80-$134.89.

In total, 2.9 billion shares were traded on the three major U.S. stock exchange, 11% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.36%, five basis points more than on the prior trading day.

Econ reports:

There are no economic reports on Friday, the last trading day before the three-day President's Day weekend. All markets are closed on Monday.

Fed Chair Bernanke speaks in Paris about the global economy.

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!

No comments:

Post a Comment