2/4 Almanac

On Friday, Feb. 4: Unemployment.

There are 15 days before the February options expire, 43 the March and 71 the April.

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



Stats

Blue chip stocks (SPY) closed the latest regular session up 0.2% from the prior close. During the day SPY traversed 1.1% in a net move up of 0.4%.

The day's extremes: Open $130.26, high $130.94, low $129.57, close $130.78.

SPY traded below the DeMark pivots before closing within their range. The next DeMark pivots are $130.18-$131.59.

In total, 2.9 billion shares were traded on the three major U.S. stock exchange, 1% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.35%, unchanged from the prior trading day.


Econ reports:

The Labor Department releases the most comprehensive report available on the U.S. job market, including the headline-generating unemployment rate. Out at 8:30 a.m. Eastern. Often a market-mover.

Also out sometime during the day, Monster Worldwide's Monster Employment Index.

I for one have always been a strong supporter of full-employment for monsters. Also, vampires and witches. A recession is no excuse to kick these useful members of society out on the street!

Treasury reports on STRIPS at 3 p.m. (STRIPS are derived from Treasury debt; they pay no interest, are sold at a deep discount, and provide a profit at maturity.)

The Dallas Federal Reserve president, Richard Fisher, gives a speech. He is a voting member of the Federal Open Market Committee, which sets monetary policy.

The Federal Reserve often posts speech transcripts; the most recent are Fed Gov. Eliz. Duke from Wednesday and Fed Chair. Ben. Bernanke from Thursday.


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:

• XLE: Possibly add to my existing positions.
• XLP, VAR: Seeking an exit.
• M, MO: Possible entry.

Click here for stocks on my Watchlist.


Good trading!