Tuesday, September 13, 2011

9/14 Almanac

On Wednesday, Sept. 14: Producer price index, retail sales.

There are three trading days before the September options expire, 38 the October, 66 the November and 94 the December.

(Note: The 9/13 Almanac reported incorrect trading days before options expiry. The numbers have been corrected on the web site.)

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


Blue chip stocks (SPY) closed the latest regular session up 0.9% from the prior close. During the day SPY traversed 1.7% in a net move up of 0.6%.

The day's extremes: Open $117.05, high $118.18, low $116.22, close $117.74.

SPY closed within the DeMark pivots after trading above their range. The next DeMark pivots are $116.98-$118.94.

In total, 2.9 billion shares were traded on the three major U.S. stock exchanges, 6% fewer than on the prior trading day.

Five-year bond yields imply inflation at 1.68%, three basis points lower than the prior trading day.

Econ reports:

The Labor and Commerce Departments deliver a double dose of economic intelligence at 8:30 a.m. Eastern: The producer price index and retail sales. Each is a major report that can impact the markets, especially in these nervous times, since they track the prospects of inflation and consumers' willingness to shop 'til they drop.

Also out, petroleum inventories at 10:30 a.m. -- a big deal for the energy sector -- and the Mortgage Bankers' purchase applications report at 7 a.m., big for the embattled housing industry.

Treasury auctions 30-year bonds at 1 p.m.

A Fedster-free day -- they are in hibernation, no doubt.

The Federal Reserve maintains an archive of speeches and testimony.

Trading Calendar:

By my rules, at this point in the cycle I can trade October vertical, diagonal, butterfly and calendar spreads, iron condors and covered calls, as well as December or later straddles, strangles, calls and puts. And of course, shares are good at any time.

Good trading!

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