Wednesday, September 14, 2011

9/15 Almanac

On Thursday, Sept. 15: Inflation, industrial production.

There are two trading days before the September options expire, 37 the October, 65 the November and 93 the December.

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


Blue chip stocks (SPY) closed the latest regular session up 1.4% from the prior close. During the day SPY traversed 3.5% in a net move up of 0.9%.

The day's extremes: Open $118.34, high $120.80, low $116.72, close $119.37.

SPY closed above the DeMark pivots after trading within their range. The next DeMark pivots are $118.05-$122.13.

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

Volume is unavailable due to a technical problem.

Five-year bond yields imply inflation at 1.64%, four basis points lower than the prior trading day.

Econ reports:

Fresh inflation numbers -- the consumer price index -- will be out at 8:30 a.m. Eastern, as will the weekly jobless claims tally. The Federal Reserve reports on industrial production at 9:15 a.m. and on manufacturing conditions in the Philadelphia District (the Philly Fed survey) at 10 a.m. All four are, potentially, major market movers.

Also out, The Empire State (New York) manufacturing survey and the international trade current account report, both at 8:30 a.m., Bloomberg's consumer comfort index at 9:45 a.m., natural gas at 10:30 a.m., and the Fed's balance sheet and money supply reports at 4:30 p.m.

Treasury announces funding requirements for 3- and 6-month and 52-week bills, and 10-year tax-indexed notes (TIPS) at 11 a.m.

The Fedsters are enjoying a day of silence.

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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