Tuesday, April 12, 2011

4/13 Almanac

On Wednesday, April 13: Retail sales.

There are three days before April options expire, 38 the May and 66 the June.

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


Blue chip stocks (SPY) closed the latest regular session down 0.8% from the prior close. During the day SPY traversed 0.8% in a net move down of 0.2%.

The day's extremes: Open $131.72, high $131.98, low $130.99, close $131.47.

SPY traded within the DeMark pivots before closing below their range. The next DeMark pivots are $130.74-$131.73.

In total, 2.7 billion shares were traded on the three major U.S. stock exchanges, 3% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.81%, seven basis points lower than the prior trading day.

Econ reports:

Commerce reports on retail sales at 8:30 a.m. Eastern. Shoppin' 'til you're droppin'? Me neither.

Also out, business inventories at 10 a.m., petroleum inventories at 10:30 a.m., and the Federal Reserve's Beige Book at 2 p.m.

The Mortgage Bankers release their purchase applications report at 7 a.m. It's a leading indicator for the housing business.

Treasury will auction 10-year notes at 1 p.m.

No Fedsters are speaking. For past speeches, 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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