Tuesday, July 12, 2011

7/13 Almanac

On Wednesday, July 13: Import and export prices, petroleum inventories, Treasury budget, Chairman Ben.

There are three trading days before the July options expire, 38 the August, 66 the September and 101 the October.

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


Blue chip stocks (SPY) closed the latest regular session down 0.4% from the prior close. During the day SPY traversed 1.1% in a net move down of 0.2%.

The day's extremes: Open $131.69, high $132.78, low $131.36, close $131.40.

SPY closed within the DeMark pivots after trading above their range. The next DeMark pivots are $130.67-$132.09.

In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, 11% more than on the prior trading day.

Five-year bond yields imply inflation at 2.11%, one basis point higher than on the prior trading day.

Econ reports:

Three potential market-shakers, but not high magnitude: Import and export prices at 8:30 a.m. Eastern, Fed Chairman Ben Bernanke's twice-yearly report to Congress at 10 a.m., to the House Financial Services Committee, and petroleum inventories at 10:30 a.m., and the Treasury budget at 2 p.m.

Also out, the Mortgage Bankers' weekly report on purchase applications at 7 a.m.

Treasury auctions 10-year notes at 1 p.m.

Bernanke's prepared remarks always appear in a timely manner on the Federal Reserve's repository of speeches and testimony.

Dallas Fed Pres. Richard Fisher, who sits on the money policy committee, is also scheduled to make a public appearance.

He took office under President George W. Bush. His resume shows institutional ties to former Secretary of State Henry Kissinger’s strategic advisory firm, the private bank Brown Brothers Harriman Inc., and his own money management firm.

Trading Calendar:

By my rules, at this point in the cycle I can trade August vertical, diagonal, calendar 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.

Good trading!

No comments:

Post a Comment