Monday, June 6, 2011

6/7 Almanac

On Tuesday, June 7: Consumer credit

There are 11 trading days before the June options expire, 39 the July, 74 the August and 102 the September.

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


Blue chip stocks (SPY) closed the latest regular session down 1.1% from the prior close. During the day SPY traversed 1.1% in a net move down of 0.8%.

The day's extremes: Open $130.09, high $130.36, low $128.87, close $129.05.

SPY closed below the DeMark pivots after trading within their range. The next DeMark pivots are $128.22-$129.71.

In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, about the same as on the prior trading day.

Five-year bond yields imply inflation at 2.09%, one basis point lower than the prior trading day.

Econ reports:

The econ week continues its agonizingly slow start with three reports of little consequence to the markets.

The Fed's consumer credit report at 3 p.m. Eastern tallies how much we're borrowing to buy stuff.

Earlier in the day, two private-sector weekly retail reports: ICSC-Goldman store sales at 7:45 a.m. and Redbook at 8:55 a.m.

Treasury auctions 4-week bills at 11:30 a.m. and 3-year notes at 1 p.m.

One Fedster speaking: Atlanta Fed Pres. Dennis Lockhart, an alternate member of monetary committee who lacks a vote on policy. He took office under President George W. Bush. His resume shows institutional ties to Citigroup (then called Citicorp/Citibank), Heller Financial and the private equity firm Zephyr Management L.P.

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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