Before the Open (Apr 11)

Posted on by Jason Leavitt

Good morning. Happy Monday. Hope you had a nice weekend.
The Asian/Pacific markets closed mixed and with a bearish bias. No index moved more than 1%. Europe is currently trading mostly down, but the are no big losers. Futures here in the States point towards a positive open for the cash market.

I don’t have anything to add to the report posted over the weekend. The market has moved in a tight range for 8 days, and as of now, today’s open will be slightly below the middle of the range. We got some selling pressure on Friday, but in my opinion, that was mostly due to the prospect of the government shutting down. Now that that’s gone, traders/investors can look forward to the next news worthy item to trade off of.
There are no economic numbers out today, but the rest of the week is full. So unlike last week where there was little for the market to feed off of, there will be lots for the market to chew on this week. Earnings season technicaly starts today with AA’s report, but not many companies report this week.
That’s it for now. Again, I don’t have anything to add to my weekend comments. The trend is up, so right now I’m only considering the long side. Things could change, and that’s fine. I’m flexible, but if the market wants to move up, I’m not going to fight it. 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 11)”

  1. I think it was Aussie J who commented that the first
    two hours of trading here in the U.S. is dominated
    by the action in Europe. So for the moment,
    Dow 12,400 is acting as a magnet until we
    break out into one direction or another. HW

  2. The EU debacale goes on, but the EURO is the currency against the DXY.
    I believe in FXC,FXA and DBV, and am short bonds until Congress comes alive. The dollar goes down and the commodities up.
    The crop report says softs are not as tight as the futures say.
    The market can go either way inspite of the trend being up. There is wide acceptance that When QE2 ends the market will flatten or fall. It is the cloud in our lives.

  3. this week depends on which way the big instos are hedged as opposed to the retailers
    ftse mostly flat ,with dax the big down mover -now sitting on fri piviot low –so risk to the ndx

  4. thanks, Neal–it may be shake down time –ah
    the bears are collecting bull for the long hot summer
    but i dont think the bears are strong enough to push it much higher
    so next up may fail
    insto selling into strenght all day again today

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