Wednesday, November 23, 2011

11/25 Almanac

Thursday, Nov. 24, is a market holiday in the United States. Other major money centers will be open for trading.

On Friday, Nov. 25: U.S. stock markets will close three hours early, at 1 p.m. Eastern.

Private Trader will post only a Forex report on Thursday, and a full schedule of reports on Friday. The Almanac will be posted Friday shortly after the markets' early close at 1 p.m.

As of Friday, there are 22 days before the December options expire, 57 the January, 85 the February and 113 the March.

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


Blue chip stocks (SPY) closed the latest regular session down 2.2% from the prior close. During the day SPY traversed 2.2% in a net move down of 1.3%.

The day's extremes: Open $118.07, high $119.19, low $116.56, close $116.56.

SPY closed below the DeMark pivots after trading within their range. The next DeMark pivots are $115.25-$117.88.

In total, 2.5 billion shares were traded on the three major U.S. stock exchanges, 2% fewer than on the prior trading day.

Implied volatility suggests a 68% chance that SPY will close, 30 days from now, between $105.23 and $127.89. The range is +/- $11.33 from the last closing price, 39¢ wider than on the prior trading day.

Bond yields imply that inflation, over the next five years, will average 1.73%, three basis points higher than on the prior trading day.

Econ reports

A day without motivation. The Federal Reserve releases two weekly reports -- the balance sheet and the money supply -- at 4:30 p.m. Eastern. Otherwise, nothing.

And with the markets closing early, any econ reports would likely fall on deaf ears. With both motivators and motivated absent, can Friday even be called a trading day?

Also, no Fedsters are speaking.

The Federal Reserve maintains an archive of selected speeches and testimony.

Trading Calendar:

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

Enjoy the holiday! Respect the bird!!

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