{"id":1936,"date":"2009-09-28T07:21:54","date_gmt":"2009-09-28T12:21:54","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=1936"},"modified":"2009-09-28T07:21:54","modified_gmt":"2009-09-28T12:21:54","slug":"before-the-open-sep-28","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=1936","title":{"rendered":"Before the Open (Sep 28)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mostly down \u2013 China, Hong Kong and Japan lost more than 2%.<\/span>
\nEurope is currently mixed with a slight up bias \u2013 Germany is up 1.3%.<\/span>
\nFutures here in the States are up a few points indicating a gap up open for the cash market. This comes after being down overnight. …
\n<\/span>
\nStockcharts.com is down, so there\u2019ll be no charts in this little write up. That\u2019s ok because I rarely have anything to add on a Monday morning to my weekend write up.<\/span>
\nThe overall trend is up \u2013 higher highs and higher lows continue to be the pattern. But in the near term, the bulls will be tested. They stepped up and defended their turf very well the last 6 months, so it would be foolish to assume this time will be different. As far as I\u2019m concerned, the trend is up until it\u2019s not. This doesn\u2019t mean I blindly hold because every big pullback starts as a small pullback. I\u2019m just not going to get overly bearish. The only traders who can accurately pick a top are those who incorrectly picked a top several times the last 6 months. A stopped clock is correct twice a day. If they keep singing the same song, they\u2019ll eventually be right. But will they still be in business?<\/span>
\nThere are slight warning signs in the form of the banks not making a higher high last week and oil and copper having already topped out, but the dollar and LIBOR continue to be accommodative. Be conservative here. Spotting bottoms is easy. Tops are more difficult. This is a good time to get chopped up.<\/span>
\nThat\u2019s it for now. I\u2019ll post more after the open assuming stockcharts.com comes back online.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nyesterday’s Sector Performance<\/a><\/span>
\nthis week’s Earnings Reports<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\nopen a real-time futures demo account at…<\/span>
\n\"\"<\/a>
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