Friday, June 10, 2011

6/13 Almanac

On Monday, June 13: T-bill auctions (yawn).

There are five trading days before the June options expire, 33 the July, 68 the August and 96 the September.

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


Blue chip stocks (SPY) closed the latest regular session down 1.4% from the prior close. During the day SPY traversed 1.3% in a net move down of 1%.

The day's extremes: Open $128.85, high $128.93, low $127.26, close $127.60.

SPY closed below the DeMark pivots after touching the bottom of their range. The next DeMark pivots are $126.60-$128.27.

In total, 3 billion shares were traded on the three major U.S. stock exchanges, 15% more than on the prior trading day.

Five-year bond yields imply inflation at 2.05%, four points lower than the prior trading day.

Econ reports:

The week opens and closes with little in the way of econ activity, but midweek is a spicy feast of market-movers. The week to come is like a deli sandwich piled high with sliced meat and crispy veggies, garnished with great globs of mustard and mayo, surrounded by thin slices of cheap and crumbly white bread. Better bring a napkin.

Treasury auctions 3- and 6-month bills at 11:30 a.m. Eastern, and announces funding needs for 4-week bills at 11 a.m.

The president of the Richmond Federal Reserve Bank, Jeffrey Lacker, makes a public appearance. An alternate, non-voting member of monetary committee, Lacker took office under President George W. Bush. His institutional ties are academic.

The Federal Reserve maintains an archive, where it posts transcripts of speeches and testimony within a few days of the event.

Later in the week, look for the producer price index and retail sales on Tuesday, the consumer price index and industrial production on Wednesday, and housing starts, weekly jobless claims and the Philly cheesesteak -- I mean Philadelphia Fed Survey -- on Thursday.

Trading Calendar:

By my rules, at this point in the cycle I can trade July vertical, calendar, diagonal and butterfly spreads, iron condors and covered calls, as well as September or later straddles, strangles, calls and puts. And of course, shares are good at any time.

Enjoy the weekend!

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