Wednesday, September 21, 2011

9/22 Almanac

On Thursday, Sept. 22: Weekly jobless claims.

There are 30 trading days before the October options expire, 58 the November, 86 the December and 121 the January.

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


Blue chip stocks (SPY) closed the latest regular session down 3.0% from the prior close. During the day SPY traversed 3.5% in a net move down of 3.0%.

The day's extremes: Open $120.23, high $120.60, low $116.44, close $116.63.

SPY closed below the DeMark pivots after trading within their range. The next DeMark pivots are $114.46-$118.62.

In total, 3.4 billion shares were traded on the three major U.S. stock exchanges, 21% more than on the prior trading day.

Five-year bond yields imply inflation at 1.69%, one basis point lower than the prior trading day.

Econ reports:

Weekly jobless claims are out at 8:30 a.m. Eastern -- often a market mover, at least if the numbers portend gloom, doom, pain, agony, discomfort, uneasiness and unhappiness.

Also out, the Bloomberg consumer comfort index at 9:45 a.m., the Federal Home Finance Agency house price index at 10 a.m., leading indicators (my favorite) at 10 a.m., the natural gas report at 10:30 a.m., and two from the Fed -- the balance sheet and money supply -- at 4:30 p.m. Some of these are fascinating reads, but the markets, all in all, could care less.

Treasury auctions 10-year inflation-indexed notes (TIPS) at 1 p.m., and announces funding requirements for 3- and 6-month and 2-, 5- and 7-year notes at 11 a.m.

No Fedsters at the podium today (but two have been added to the calendar tomorrow -- too exciting!)

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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