Before the Open (Dec 7)

Posted on by Jason Leavitt

Good morning. Happy Tuesday.
The Asian/Pacific markets closed with a bullish bias and moderate gains. Europe is currently up across the board – most markets have gained at least 1%. Futures here in the States point towards a large gap up open which will be into new high territory for all the indexes.
The big news this morning (actually last night) is a plan to extend the Bush tax cuts for two more years for everyone. By itself this won’t help the stock market much (although some of the saved money will find its way to Wall St.), but it does show there may be hope Congress and the Pres can find common ground on other issues so there won’t be two years of gridlock ahead. Anyways, the market likes the decision.
The trend is up. What more can I say? Last week I said numerous times we can loosen up a little. That means we can be more aggressive and plan on holding positions longer instead of shooting for quick 5% gains. It’s much easier nailing 30% moves than hitting 5% moves over and over. It’s also more relaxing and less stressful. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers

0 thoughts on “Before the Open (Dec 7)”

  1. has quad whitching come a bit early
    are the bigboys selling the long onlys
    i just love irrational exhuberance
    it started in europe or is that little america as ur bailing them out through the imf
    just couldnt miss this shortable event

  2. Be carefull. No one knows what this tax bill means besides inflation or maybe stagflation. It lowers taxes on income, but does not do much for earning power. Remember income was the issue and still is.
    Instead what the dollar and euro. The EU is going to move down based on its lies over debt. the dollar becomes the shining light for a time just by default, and the Yuan is in limbo as China fights the fires of inflation, and food prices in the world markets. This is not Duck Soup, it is potentially fog soup with no one able to do much.
    I say being flat means being fat.

  3. the talk of another rate rise in china this week end is not helping
    i say the world is a dead duck,stewwd in lies and debt
    but im not afraid to trade price as it is on the i and 5 min charts,with live internals and the usd as guides
    but i agree fat and flat is good,but this may be the last hoora for the longs

  4. now silver could be good,but wasnt morgans or someone short it
    markets could have a reasonable up leg to the close,but its still a daytraders market
    and usd came nicely of its lows

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