{"id":614,"date":"2009-02-13T06:30:52","date_gmt":"2009-02-13T11:30:52","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=614"},"modified":"2009-02-13T06:30:52","modified_gmt":"2009-02-13T11:30:52","slug":"before-the-open-113","status":"publish","type":"post","link":"http:\/\/blog.leavittbrothers.com\/?p=614","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Friday.
\nThe bulls continue to defend their territory. Rallies have been getting sold for months, and for the last several weeks, the bulls have held the line on every sell-off. There are many cracks in the damn, but so far, it hasn\u2019t broken. Here\u2019s the 30-min SPX chart. A lot of bad news has hit the market the last month (hundreds of thousands of lost jobs), and all the market has done is sit there and absorb all of it without completely breaking down. I\u2019m not about to call the market strong, but being able to absorb bad news is the sign of a strong market. But the flip side of that is the market must also embrace positive news which the market hasn\u2019t been able to do other than in short spurts.
\n
\nMy stance and how I\u2019m trading remains the same. Any trade to the upside is short term only \u2013 if I\u2019m lucky I get to hold or a couple days but often trades are just day trades. On the short side, my preference is to short bounces with loose stops with intentions of letting the charts fully fun their course. You don\u2019t get rich taking quick profits with the trend being so heavily in your favor.
\nThe market is closed Monday for Washington\u2019s b-day, so we have a 3-day weekend ahead of us. Have the shorts gotten too aggressive (market continues to rally), or will the longs want to use yesterday\u2019s late rally as an opportunity to exit before the long weekend? We shall see. Certainly this isn\u2019t a time to be aggressive.
\nheadlines at Yahoo Finance<\/a>
\nmovers & shakers from MarketWatch<\/a>
\nupgrades\/downgrades<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Friday. The bulls continue to defend their territory. Rallies have been getting sold for months, and for the last several weeks, the bulls have held the line on every sell-off. There are many cracks in the damn, but so far, it hasn\u2019t broken. Here\u2019s the 30-min SPX chart. A lot of bad […]<\/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\/614"}],"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=614"}],"version-history":[{"count":0,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/614\/revisions"}],"wp:attachment":[{"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=614"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}