Wednesday, March 23, 2011

3/24 Almanac

On Thursday, March 24: Durables, jobless.

There are 23 days before April options expire, 58 the May and 86 the June.

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 1.3% in a net move up of 0.6%.

The day's extremes: Open $128.93, high $130.00, low $128.32, close $129.66.

SPY closed above the DeMark pivots after trading below their range. The next DeMark pivots are $128.99-$130.67.

In total, 2.7 billion shares were traded on the three major U.S. stock exchange, 10% more than on the prior trading day.

Five-year bond yields imply inflation at 2.66%, unchanged from the prior trading day.

Econ reports:

Durable goods tend to be expensive things that hang around a long time. So anyone buying new durable goods must be optimistic about the future. At least that's the thought behind the report to be released by the Commerce Dept. at 8:30 a.m. Eastern.

Also at 8:30 a.m., the Labor Dept. issues its weekly tabulation of claims for unemployment benefits.

Both reports can be market movers.

The natural gas report is out at 10:30 a.m.

The Federal Reserve reports on its balance sheet and the money supply at 4:30 p.m.

Treasury auctions 10-year tax-indexed notes at 1 p.m. Eastern.

Richmond Fed Gov. Elizabeth Duke gives a speech. She is a voting member of the Federal Open Market Committee, which determines (in part) how much your money is worth.

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 April diagonal, butterfly, vertical and calendar spreads, iron condors and covered calls. Also, June or later straddles, calls and puts. And of course, shares are good at any time.

Good trading!

No comments:

Post a Comment