Monday, December 15, 2003
Issue Contents:
| 08:07 | Good Morning Headlines and reaction. |
| 09:01 | U.S. Economic Calendar Key releases. |
| 15:55 | Reversal Day Gap and crap. |
| 16:16 | Active Trader Transcript Real time forum log. |
With the capture of Saddam Hussein, S&P futures are up around 11 points in overnight trading while NASDAQ futures are up around 21. As the world cheers the good news, the trader in me feels like staying in bed to get some extra sleep today. Why?
This is the daily chart of the S&P futures. The 20-day average true range is 10.98 points. This means that short of a big launch to the upside (scenario discussed on December 3) or a dramatic reversal, the day's expected trading range is done at the open.
Monday, December 15
Earnings Highlights: ORCL, CAND, CLMDY, CUNO, HEI
- 8:30AM NY Empire State Index
- 12:30PM Richmond Federal Reserve Bank President Alfred Broaddus to speak about the U.S. economy, at the Charlotte Chamber of Commerce, in Charlotte, North Carolina.
- 1:00PM 3-Month Treasury Bill Auction
- 1:00PM 6-Month Treasury Bill Auction
Tuesday, December 16
Earnings Highlights: AVN, MAXM, APSG, CNJ
- 8:30AM Consumer Price Index
- 8:30AM Current Account
- 8:30AM Housing Starts
- 8:55AM Redbook
- 9:15AM Industrial Production
- 1:00PM 4-Week Treasury Bill Auction
Wednesday, December 17
Earnings Highlights: FDX, BBY, JBL, CC, BBBY, LEH
- 7:00AM MBA Purchase Applications
- 11:30AM Minneapolis Federal Reserve to hold news briefing on its 2004 economic outlook in Minneapolis.
Thursday, December 18
Earnings Highlights: MWD, SLR, GS, PAYX, CCL, BMET
- 8:30AM Jobless Claims
- 10:00AM Leading Indicators
- 12:00Noon Philadelphia Fed Survey
- 4:30PM Money Supply
Friday, December 19
Quarterly expiration of futures, options, options on futures and single stock futures.
Earnings Highlights: ATYT, GUC, YOUG, MAXS
- No economic releases scheduled.
Yep, it was the old gap and crap today. At 3:30PM, the headline at WSJ was:
The Dow Industrials extended their recent rally Monday following the capture of Hussein, leaving the blue-chip average well above the 10000 mark it reached last week.
Of course, at the close, they report:
The Dow Industrials extended their recent rally Monday following the capture of Hussein, though just barely, and the broader market remained weak.
Never believe everything you read. I'll be at work tonight to post a comprehensive report.
Real time forum log.
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