Before the Open (Apr 4)

Posted on by Jason Leavitt

Good morning. Happy Monday. Hope you had a nice weekend.
The Asian/Pacific markets closed mostly up; China, Hong Kong and India gained more than 1%. Europe is currently mostly up; there are no big winners. Futures here in the States point towards a positive open for the cash market.

I don’t have anything to add to the report I posted over the weekend or the video I posted on the blog. The trend is up; every little dip is getting bought. The market feels like it’s intent on moving up regardless of what’s put in it’s path.
There are very few econ numbers released this week, and earnings season doesn’t begin for a couple more weeks. I’m not sure if a lack of news is good or bad, but it is what it is. The market will have to do its own heavy lifting this week because it won’t get help from elsewhere.
Here’s the 10-min SPX. The overall trend is up, but a void space remains unfilled. It may pull on the market. 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 (Apr 4)”

  2. Futures are up a little over FV. Weinstein may be correct, its a Bernanke day? Two gaps on the SP, both will be filled this spring probably.
    My Vanguard hold portfolio is up 6% ytd. This portfolio has averaged 8-12%/yr for last five years, except one. It doubles every 6-12 years. At my age its is comforting to know
    Larry Swedlow is right, buy and hold is not dead because it works. Note to the over 40 crowd.
    My trading does better but lots of work. I am expecting a top in May or early June ’11 based on cycles.
    Our firm trades Jason’s setups; he does better than anything else we see including me.

  5. (#1) Aussie JS : don’t be so anticipatory. You remember my post from last week?
    The next turn cycle date is on or about April 8th. Don’t be a hero. Most Aussie
    guys, are anyway. But while we are still at the end of month/begining of month
    bullish cycle, I think I’ll take my dog Max out for a long walk. Still looking
    for some kind of a mild sell off maybe later on in the day. Target: S&P 1325.

  6. ur right,Howard
    sometimes i have a bad mind set—impatients–thats why im a daytrader
    but cant help but think the apples may have japanesse worms and ibm may catch some

  7. 1. Apple is stalling out around here for a multitude of reasons.
    Speak to Professor Neal Weinstraub, he specializes in the Apple stock.
    2. IBM was all the rage a couple of weeks ago. They were having
    some sort of annual meeting, and all the spin doctors were pumping
    up the stock. But then they dropped it like a hot potato for some
    reason. Today I was reading where some analyst jut gave it a $200
    dollar price target, but the stock is somewhat inactive right now.
    3. The new buzz word on CNBC Pisani is ‘margin compressions’ Notice how
    they don’t say earning suck. They always come up with these fancy words
    like ‘consolidate’ margin compressions’ etc.

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