Before the Open (Apr 28)

Posted on by Jason Leavitt

Good morning. Happy Thursday.
The Asian/Pacific markets closed mixed. China lost more than 1%; Japan gained more than 1%. Europe is currently mixed with possibly a slight upward bias. Futures here in the States are flat, but this could change because I’m typing this almost 2 hours before the open.
At the beginning of last week when Standard & Poor’s lowered their outlook on the US debt from stable to negative, the market gapped down and sold off hard. Many believed a top had officially been put in place and at the very least a moderate correction underway. And here we are a little more than a week later the Dow, Nas and S&P are at new highs, and the Russell is very close. I’ve said it a million times, and I’ll say it again. You must trade what happens, not what you think should happen. The bears got it wrong again as they have several times the last two years. One of these days they’ll get it right, but look at the amazing opportunities they’ve missed over the years because they thought they were smarter than the market. Live and learn I guess. Don’t listen to me. Listen to your P&L.
I spent the night in the hospital and will likely be taking my daughter home today…with an oxygen tank. It’s been a long week, and it’s not over yet. She knows something’s wrong, but that doesn’t make staying in hospital room attached to an oxygen tank easy. Her twin brother is getting very confused. His living the life of an only child – something he’s never experienced and doesn’t like. So at some point today I may (hopefully) disappear while in transit. Things won’t get back to normal until early next week, but the site will still be updated daily…I just haven’t been posting much on the message board during the day.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Economic Numbers

0 thoughts on “Before the Open (Apr 28)”

    1. Hey Teddy…a bad cough turned into an RSV/bronchitis type of infection. She was breathing super fast, her breaths were very shallow and her oxygen levels were too low. Oxygen, steady doses of Tylenol and a few days have made a big difference. She’s not better, but she’s well on her way.

  4. Dear Jason,
    Ever since my Mother (may She R.I.P.) passed early, at the age of 52, due to a misinformed doctor’s diagnosis, and, my sister, Gail(may she R. I. P.), passed at the age of 31, I’ve made an avocation of studying health assiduously, and, even receive several daily newsletters, re: health.
    Furthermore, here in japan, I’ve been a teacher, but, also, a medical editor, and have edited, three dozen, papers, thus far.
    If I can be of ANY assistance to You, please contact me at Mao_kin at Yahoo
    Until then, I will light a candle and recite the sh’ma.
    Sincerely,
    mark

    1. Thanks Mark. I think we are good here. This definitely wasn’t a health issue. There are 4 different RSV-type things going around, and my daughter got one of them. She’s well on her way to recovery. Now we have to figure out a way for her twin brother to prevent her brother from getting it.

  7. Best to your family. I know the oxygen routine with a
    child; it is not easy.
    The GDP disapointed, and the Initial claims was up again.
    The problem is weather they say. Ben B is a credible
    spokesman for the FED, his message was clear: no reduction
    in stimulus, let inflation go up since it is better than
    lose of economic instability. Not a good report. Went long
    some indexes. Reservations about the Post June period. Selected
    positions seem to be the strategy.

  14. I am assuming you kids are at a relatively young age, but they will recover and move on regardless what the future has for them. Much love, affection and support is what is needed from each of you to overcome this important, but temporary glitch in life. Our thoughts are with you.
    The conference was way too well orchestrated to go terribly wrong. It was easy for Uncle Ben to hop, skip and jump around with immunity of the looming hard facts. Mr. Paul, on the other hand, is going to get more traction as time goes on and the Fed is in his sights for sure.
    I am in the camp that the QE2 has done damage to the economy and should have been stopped yesterday. Everyday that goes forth from now is only going to make the markets fall harder when the unforeseen happens – and it will.

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