{"id":565,"date":"2009-03-26T06:30:38","date_gmt":"2009-03-26T11:30:38","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=565"},"modified":"2009-03-26T06:30:38","modified_gmt":"2009-03-26T11:30:38","slug":"before-the-open-90","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=565","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Thursday.
\nLeavitt Brothers is offering a membership special<\/b> right now ->> buy an annual membership, get a free month. It averages out to about $38.50 per month – a great deal considering the quality and quantity of stocks picks we offer…not to mention our during-trading-hours and after-trading-hours analysis. To sign up, click the BECOME A MEMBER tab above. We’ll add the extra month after you sign up.
\nLet\u2019s review this week\u2026.
\nMonday \u2013 gap up and huge rally all day
\nTuesday \u2013 gap down, rallied to fill the gap and test the highs, sell off and close at the lows
\nWednesday \u2013 gap up, rally to a new high, huge sell off followed by solid buying that recaptures about two-thirds of the sell off
\nThursday \u2013 as of an hour before the open, we\u2019ll get a big gap up that puts us right near yesterday\u2019s highs
\nFun stuff. This action is a day traders\u2019 paradise but a swing traders\u2019 nightmare (that is unless you are absolutely sure the market is going higher and you\u2019re committed to holding long regardless of the intraday noise).
\nThe Taylor Trading Technique (I don\u2019t recommend it because it\u2019s so poorly written, it\u2019s almost unreadable) discuss the ying and the yan of the market\u2026how prices are brought up so the pros can sell\u2026then they\u2019re brought up again to offer an opportunity to sell short\u2026.then they\u2019re brought down to allow them to cover\u2026and then brought down a little further so they can buy. When the market is rolling around, the sequence of events plays out nicely, but right now, the market is strong enough, the downside action isn\u2019t fully maturing. Take away yesterday\u2019s late-day move and today would have been a great day to open up a little, sell off to make a new low, and then rally all day. Oh well. I\u2019m rambling.
\nHere\u2019s the ES (SPX emini futures) 45-min chart. We still have two unfilled gaps below. I don\u2019t expect the first to fill until the market rolls over and falls part, but that second one still lingers.
\n
\nAs I\u2019ve noted before, there\u2019s lots of unknown event risk out there. The normal forces of supply and demand are not at work. Regardless of strong the market gets, news out of Washington can pull the floor out at any time, and regardless of how weak it looks, you never know, maybe the up-tick rule is reinstated. The market would fly. The short term trend is up, but anything goes. Don\u2019t bet the house on any move.
\nheadlines at Yahoo Finance<\/a>
\nstocks to watch from MarketWatch<\/a>
\ntoday’s upgrades\/downgrades<\/a>
\nthis week’s earnings & economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Thursday. Leavitt Brothers is offering a membership special right now ->> buy an annual membership, get a free month. It averages out to about $38.50 per month – a great deal considering the quality and quantity of stocks picks we offer…not to mention our during-trading-hours and after-trading-hours analysis. To sign up, click […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/565"}],"collection":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=565"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/565\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=565"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}