Friday, April 8, 2011

4/11 Almanac

On Monday, April 11: T-bill auctions (but it gets better later in the week).

There are five days before April options expire, 40 the May and 68 the June.

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


Blue chip stocks (SPY) closed the latest regular session down 0.4% from the prior close. During the day SPY traversed 1.3% in a net move down of 0.8%.

The day's extremes: Open $133.91, high $133.99, low $132.31, close $132.86.

SPY traded both above and below the DeMark pivots before closing within their range. The next DeMark pivots are $131.75-$133.43.

In total, 2.4 billion shares were traded on the three major U.S. stock exchanges, 10% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.89%, five basis points higher than the prior trading day.

Econ reports:

A slow start to a busy week for econ.

On Monday, Treasury will auction 3- and 6-month bills at 11:30 a.m. Eastern. That's the quiet overture before the trumpets and timpanis start ramping up the volume.

Look for international trade figures on Tuesday, retail sales on Wednesday, the producer price index and jobless claims on Thursday, and finally, Friday, as consumer prices and industrial production produce a grand finale worthy of Verdi.

Fed Vice-Chairwoman Janet Yellen gives a speech.

Yellen has a vote in setting monetary policy. She was appointed by President Barack Obama. Her resume shows institutional ties to the Clinton administration and the Council on Foreign Relations.

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

Enjoy the weekend!

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