Tuesday, February 8, 2011

2/9 Almanac

On Wednesday, Feb. 9: Petroleum inventories.

There are 10 days before the February options expire, 38 the March and 66 the April.

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


Comparisons are to Friday's closing figures; I posted no Almanac on Monday because of travel.

Blue chip stocks (SPY) closed the latest regular session up 1.1% from the Friday close. During the day SPY traversed 0.7% in a net move up of 0.4%.

The day's extremes: Open $132.09, high $132.64, low $131.73, close $132.57.

SPY closed above Friday's DeMark pivots. The next DeMark pivots are $132.15-$133.06.

In total, 2.7 billion shares were traded on the three major U.S. stock exchange, 8% fewer than on Friday.

Five-year bond yields imply inflation at 2.36%, down 3 basis points from Friday.

Econ reports:

The weekly petroleum inventories report will be released at 10:30 a.m. Eastern. The mortgage bankers release data on purchase applications, a weekly leading indicator of housing activity, at 7 a.m.

Treasury auctions 10-year notes at 1 p.m.

Fed Chairman Ben Bernanke testifies before a House committee, and ATlanta Fed President Dennis Lockhart gives a speech. Lockhart 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.

What I'm looking for:
  • XLP: Seeking an exit.

Click here for stocks on my Watchlist.

Good trading!

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