{"id":1737,"date":"2009-08-27T07:24:41","date_gmt":"2009-08-27T12:24:41","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=1737"},"modified":"2009-08-27T07:24:41","modified_gmt":"2009-08-27T12:24:41","slug":"before-the-open-aug-27","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=1737","title":{"rendered":"Before the Open (Aug 27)"},"content":{"rendered":"<p>Good morning. Happy Thursday.<br \/>\nThe Asian\/Pacific closed mixed with a downward bias. Europe is currently mixed with a bearish slant. Futures here in the States are flat.<br \/>\nIt\u2019s been a fairly uneventful week so far. All 3 days saw early strength get sold into, and the closes weren\u2019t much different than the opens. So much for letting some air out after last week\u2019s options expiration run up. The market has been dead since than. &#8230;<!--more--><br \/>\nThe Dow has rallied 7 consecutive days \u2013 very rare.<br \/>\nThe S&amp;P is up 2 for the week and 40 for the month. Here\u2019s the SPX monthly. Baring a big sell-off the next 3 days, it\u2019ll be the 6th straight up month. Volume was strong the first 3 months but tapered off since. As I\u2019ve stated a few times the last several months, I\u2019m not sure volume matters as much as it used to. I used to consider Wall St. a big voting booth. More volume meant more traders in favor of a move. But nowadays, so much volume is generated from computers trading back and forth with each other, we don\u2019t know what is real buying and selling and what is computer trading (does anyone know a source that can separate the two?). Citigroup has 5.5 billion outstanding shares. The stock trades 900 million per day, so every 6 days the entire float changes hands. There\u2019s no way that volume is real legit volume \u2013 it\u2019s just computers day trading back and forth with each other. Anyways, volume in my opinion isn\u2019t as important as it used to be.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx082709-1.png\" alt=\"\" \/><br \/>\nHere\u2019s the 7-day, 10-min chart. Other than the opening minutes last Friday, we\u2019ve had 4 days of range-bound trading. Dips get bought; rallies get sold. Don\u2019t overanalyze the situation.<br \/>\n<img src=\"http:\/\/leavittbrothers.com\/before-the-open\/images\/spx082709-2.png\" alt=\"\" \/><br \/>\nheadlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><br \/>\nstocks to watch from <a href=\"http:\/\/www.marketwatch.com\/story\/thursdays-biggest-moving-stocks-2009-08-27\">MarketWatch<\/a><br \/>\ntoday&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><br \/>\nyesterday&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1735\">Sector Performance<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1711\">Earnings Reports<\/a><br \/>\nthis week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=1709\">Economic Numbers<\/a><br \/>\nopen a real-time futures demo account at&#8230;<br \/>\n<a href=\"http:\/\/www.infinityfutures.com\/IATdemosignup.aspx?ref=agia\"><img src=\"http:\/\/leavittbrothers.com\/banners\/v3468x60.gif\" alt=\"\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Thursday. The Asian\/Pacific closed mixed with a downward bias. Europe is currently mixed with a bearish slant. Futures here in the States are flat. It\u2019s been a fairly uneventful week so far. All 3 days saw early strength get sold into, and the closes weren\u2019t much different than the opens. So much [&hellip;]<\/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":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/1737"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1737"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/1737\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}