Before the Open (Feb 15)

Posted on by Jason Leavitt

Good morning. Happy Tuesday.
The Asian/Pacific markets closed mixed – there were no 1% movers. Europe is currently mixed – no 1% movers there either. Futures here in the States point towards a flat or slightly down open for the cash market.

The market moved slowly and in a tight range yesterday. Most indexes gained a small amount, but nothing happened to change the market. Commodity groups did great; consumer related groups lagged. It was just another day on Wall St. that saw the market keep chugging along and several indexes make new highs.
There really isn’t much to say. I can’t remember a time when the market was so consistently one-sided. It keeps going and going and going…making new high after new high…absorbing everything and anything throw in its way. I have no idea when it will end, and I’m not going to guess. This doesn’t mean you buy randomly and hold indefinitely because money is still rotating from group to group to group, but overall it’s been better to buy and milk trades than constantly trade in and out. Here’s the 60-min SPX chart. One measely pullback in Nov is all the bears have been able to muster.

headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers

0 thoughts on “Before the Open (Feb 15)”

  1. Call me paranoid but: I believe that the PPT/POMO is getting ready to
    pull the plug. Either raising interest rates soon (because gheez, gosh!
    the economy is doing so great), or, they might stop supporting the
    market with QE2 programs, etc. Announcements will not be released
    during normal market hours so as to create shock waves when the
    markets are closed. Then they have all night long to balance
    things out prior to the following trading day. HW

  2. is the fed on a austerity program—perhaps it needs a audit–perhaps it may be cut and abandoned to balance the budget
    but it usually stays out of the way on opts week
    is the usa economy great–where have the green shoots gone

  3. Somehow I have a feeling the U.S. gov’t has absolutely no intentions of balancing the budget. I watched the President’s news conference today and he was so lackluster about it. ‘Yeah, we can do this or, yeah we can do that, or whatever else you guys want to do’ :It sounded to me like he was taking the Obama family out for pizza tonight and that the budget is really the last thing on his mind. I’m sure Fox News is going to be all over his ass tonight for his performance on today’s speech. HW

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