Monday, September 26, 2011

9/27 Almanac

On Tuesday, Sept. 27: Consumer confidence.

There are 25 trading days before the October options expire, 53 the November, 81 the December and 116 the January.

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


Blue chip stocks (SPY) closed the latest regular session up 2.4% from the prior close. During the day SPY traversed 3.0% in a net move up of 1.4%.

The day's extremes: Open $114.61, high $116.40, low $112.98, close $116.24.

SPY closed above the DeMark pivots after trading within their range. The next DeMark pivots are $114.61-$118.03.

In total, 3.1 billion shares were traded on the three major U.S. stock exchanges, 3% fewer than on the prior trading day.

Five-year bond yields imply inflation at 1.51%, two basis points higher than the prior trading day.

Econ reports:

The Conference Board reports on consumer confidence at 10 a.m. Eastern. The report can be a market mover to the extent that it changes perceptions about our willingness to shop 'til we drop.

The S&P Case-Shiller home price index will be out at 9 a.m. The report tracks home prices in 20 metro areas and is the one housing report to recognize the fact that all housing markets are local.

Also out, two weekly retail reports -- ICSC-Goldman at 7:45 a.m. and Redbook at 8:55 a.m. -- and the State Street investor confidence index at 10 a.m..

Treasury auctions 4-week bills at 11:30 a.m. and 2-year notes at 1 p.m.

Atlanta Fed Pres. Dennis Lockhart, an alternate member of the monetary policy committee, makes a speech. He took office under President George W. Bush. His resume shows institutional ties to Citigroup (then called Citicorp/Citibank), Heller Financial and the private equity firm Zephyr Management L.P.

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 January or later straddles, strangles, calls and puts. And of course, shares are good at any time.

Good trading!

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