5/10 Almanac

On Tuesday, May 10: Import and export prices.

There are 11 days before May options expire, 39 the June, 67 the July and 102 the August.

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


Stats

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

The day's extremes: Open $134.19, high $135.11, low $133.98, close $134.72.

SPY closed within the DeMark pivots after trading above their range. The next DeMark pivots are $134.35-$135.48.

In total, 2.4 billion shares were traded on the three major U.S. stock exchanges, 21% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.34%, three basis points higher than the prior trading day.


Econ reports:

The Labor Department releases indexes of the price imported goods and of goods made for export at 8:30 a.m. Eastern. They are basically an inflation gauge for the global part of the economy.

Also out, wholesale trade at 10 a.m., and a couple of weekly retail reports: ICSC-Goldman at 7:45 a.m. and Redbook at 8:55 a.m.

Treasury auctions 4-week bills at 11:30 a.m. Eastern.

Two Fedsters at the podium: Fed Gov. Elizabeth Duke and Richmond Fed Pres. Jeffrey Lacker

Duke has a vote in setting monetary policy. Her resume shows institutional ties to the American Bankers Association, the Virginia Bankers Association and several Virginia Banks, including the giant Wachovia Bank, which was taken over by Wells Fargo during the 2008 financial crisis.

Lacker is an alternate member of the monetary committee and lacks a vote on policy. His institutional ties are academic.

Both were appointed by President George W. Bush.

The Federal Reserve maintains an archive where it 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 June vertical, calendar, diagonal and butterfly spreads, covered calls and iron condors, as well as August or later straddles, strangles, calls and puts. And of course, shares are good at any time.


Good trading!