Monday, September 19, 2011

9/20 Almanac

On Tuesday, Sept. 20: Housing starts.

There are 32 trading days before the October options expire, 60 the November, 88 the December and 123 the January.

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


Blue chip stocks (SPY) closed the latest regular session down 1.0% from the prior close. During the day SPY traversed 1.9% in a net move up of 0.7%.

The day's extremes: Open $119.53, high $120.93, low $118.72, close $120.31.

SPY closed below the DeMark pivots after touching the lowest point of their range. The next DeMark pivots are $119.52-$121.73.

In total, 2.8 billion shares were traded on the three major U.S. stock exchanges, 35% fewer than on the prior trading day.

Five-year bond yields imply inflation at 1.67%, eight basis points lower than the prior trading day.

Econ reports:

The government's housing starts report will be released at 8:30 a.m. Eastern. This is a potential market-mover, although -- housing market was in the dumps, housing market still in the dumps -- not the sort of report to inspire crazed trading.

Also out, two weekly retail reports: ICSC-Goldman at 7:45 a.m. and Redbook at 8:55 a.m.

Treasury auctions 52-week bills at 11:30 a.m.

No Fedsters at the podium. The Federal Open Market Committee begins a two-day meeting on Tuesday; no news from it until Wednesday.

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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