Thursday, December 8, 2011

12/9 Almanac

On Friday, Dec. 9: International trade.

There are eight days before the December options expire, 43 the January, 71 the February and 99 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 2.0% in a net move down of 1.6%.

The day's extremes: Open $125.90, high $126.18, low $123.65, close $123.95.

SPY closed below the DeMark pivots after trading within their range. The next DeMark pivots are $122.54-$125.07.

In total, 2.7 billion shares were traded on the three major U.S. stock exchanges, up 11% from the prior trading day.

Implied volatility suggests a 68% chance that SPY will close, 30 days from now, between $113.07 and $134.83. The range is +/- $10.88 from the last closing price, 38¢ wider than on the prior trading day.

Bond yields imply that inflation, over the next five years, will average 1.75%, seven basis points lower than on the prior trading day.

Econ reports

The Commerce Department releases international trade figures at 8:30 a.m. Eastern. The report can motivate markets if there's a surprise.

Also out, the Reuters/University of Michigan consumer sentiment report at 9:55 a.m.

No Fedsters are scheduled to speak.

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

Good trading!

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