Wednesday, July 13, 2011

7/14 Almanac

On Thursday, July 14: Producer prices, retail sales, jobless claims.

There are two trading days before the July options expire, 37 the August, 65 the September and 100 the October.

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


Blue chip stocks (SPY) closed the latest regular session up 0.3% from the prior close. During the day SPY traversed 1.3% in a net move down of 0.2%.

The day's extremes: Open $132.09, high $133.22, low $131.52, close $131.84.

SPY closed within the DeMark pivots after trading above their range. The next DeMark pivots are $130.83-$132.53.

In total, 2.8 billion shares were traded on the three major U.S. stock exchanges, 5% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.10%, one basis point lower than on the prior trading day.

Econ reports:

A busy day. Three potential market-movers at 8:30 a.m. Eastern: Producer prices, retail sales and weekly jobless claims.

Business inventories will be released at 10 a.m., around the time that Fed Chairman Ben Bernanke makes the second appearance of his twice-yearly report to Congress (this time with the Senate banking committee).

And there's more: Natural gas at 10:30 a.m., and the Fed's balance sheet and money supply numbers at 4:30 p.m.

Treasury auctions 30-year bonds at 1 p.m. and announces funding requirements for 3- and 6-month bills and 10-year inflation-indexed TIPS at 11 a.m.

The Federal Reserve maintains an archive of speeches and testimony.

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!

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