Friday, April 15, 2011

4/18 Almanac

On Monday, April 18: Home Builders index.

There are 33 days before May options expire, 61 the June and 89 the July.

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


Blue chip stocks (SPY) closed the latest regular session up 0.4% from the prior close. During the day SPY traversed 0.7% in a net move up of 0.2%.

The day's extremes: Open $131.80, high $132.37, low $131.41, close $132.04.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $131.73-$132.69.

In total, 2.8 billion shares were traded on the three major U.S. stock exchanges, 7% more than on the prior trading day.

Five-year bond yields imply inflation at 2.77%, two basis points lower than on the prior trading day.

Econ reports:

A slow overture to a week that, far from ending in a roaring crescendo, just sort of fades into a holiday. A good Friday indeed, for those of us who could use a break.

For Monday, the Home Builders release their housing market index at 10 a.m. Eastern.

Treasury auctions 3- and 6-month bills at 11:30 a.m.

No Fedsters are scheduled to make public appearances -- all week, actually.

For past appearances, the Federal Reserve often posts transcripts of speeches and testimony within a few days of the event.

For the rest of the short week, look for housing starts on Tuesday, existing home sales on Wednesday, and weekly jobless claims and the Philly cheese steak Fed survey on Thursday.

All markets are closed on Friday. But banks are open. So, any trader going into market withdrawal shock on Friday can stop by the bank and smell the money.

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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