Monday, April 11, 2011

4/12 Almanac

On Tuesday, April 12: International trade.

There are four days before April options expire, 39 the May and 67 the June.

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


Blue chip stocks (SPY) closed the latest regular session down 0.3% from the prior close. During the day SPY traversed 1.0% in a net move down of 0.4%.

The day's extremes: Open $133.00, high $133.45, low $132.14, close $132.46.

SPY traded above the DeMark pivots before closing within their range. The next DeMark pivots are $131.65-$133.96.

In total, 2.8 billion shares were traded on the three major U.S. stock exchanges, 16% more than on the prior trading day.

Five-year bond yields imply inflation at 2.88%, one basis point lower than the prior trading day.

Econ reports:

Commerce reports on the international trade gap at 8:30 a.m. Eastern. A big deal across the board, but especially for the dollar in currency trading.

Also out, import and export prices, at 8:30 a.m., and the Treasury budget, at 2 p.m.

Two weekly retail reports will be released: ICSC-Goldman store sales at 7:45 a.m. and Redbook at 8:55 a.m.

Treasury will auction 4-week bills at 11:30 a.m. and 3-year notes at 1 p.m.

New York Fed Pres. William Dudley gives a speech.

Dudley has a vote in setting monetary policy. He took office under President Barack Obama. His resume shows institutional ties to Goldman Sachs and the Congressional Budget Office under Presidents Bill Clinton and George W. Bush.

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.

Good trading!

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