Monday, June 13, 2011

6/14 Almanac

On Tuesday, June 14: Producer prices, retail sales.

There are four trading days before the June options expire, 32 the July, 67 the August and 95 the September.

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


Blue chip stocks (SPY) closed the latest regular session up 0.1% from the prior close. During the day SPY traversed 0.9% in a net move down of 0.2%.

The day's extremes: Open $127.89, high $128.24, low $127.05, close $127.70.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $126.78-$127.97.

In total, 2.7 billion shares were traded on the three major U.S. stock exchanges, 10% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.05%, unchanged from the prior trading day.

Econ reports:

The producer price report will be released at 8:30 a.m. Eastern, simultaneously with the retail sales report. Both have the capacity to move the markets.

Also out, business inventories at 10 a.m., and two 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.

Federal Reserve Chairman Ben Bernanke gives a speech at a conference about the budget deficit and the debt ceiling. The markets will watch this event closely. It begins at 2:30 p.m.

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 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.

Good trading!

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