Friday, June 17, 2011

6/20 Almanac

On Monday, June 20: A thin gruel of T-bill auctions. But look for a rich stew of econ data later in the week.

There are 26 trading days before the July options expire, 61 the August, 89 the September and 124 the October.

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


Blue chip stocks (SPY) closed the latest regular session down 0.2% from the prior close. During the day SPY traversed 1.0% in a net move down of 0.7%.

The day's extremes: Open $127.93, high $127.94, low $126.62, close $127.05.

SPY closed within the DeMark pivots after trading below their range. The next DeMark pivots are $126.18-$127.50.

In total, 3.9 billion shares were traded on the three major U.S. stock exchanges, 35% more than on the prior trading day.

Five-year bond yields imply inflation at 1.98%, three basis points lower than the prior trading day.

Econ reports:

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

All Fedsters are silent on Monday, awaiting the chairman's news conference later in the week. The Federal Reserve maintains an archive, where it posts transcripts of speeches and testimony within a few days of the event.

As the week progresses, look for these major reports: Existing home sales on Tuesday, the Federal Open Market Committee monetary policy announcement and Chairman Ben Bernanke's news conference on Wednesday, weekly jobless claims and new home sales on Thursday, and durable goods orders and the gross domestic product on Friday.

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 October or later straddles, strangles, calls and puts. And of course, shares are good at any time.

Enjoy the weekend!

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