{"id":2188,"date":"2009-11-05T08:28:47","date_gmt":"2009-11-05T13:28:47","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2188"},"modified":"2009-11-05T08:28:47","modified_gmt":"2009-11-05T13:28:47","slug":"before-the-open-nov-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2188","title":{"rendered":"Before the Open (Nov 5)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Fed has spoken. They said economic conditions are improving but the job market along with a negative wealth effect from housing are large hurdles stopping a full-fledged recovery. They also said rates will be kept low for a long time. On this news the dollar dropped. Here’s the chart; it bounced nicely off 75 and help give us some shorts to play, but the overall downtrend remains in place.<\/span>
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\nWhen the dollar drops, commodities tend to do well. Here’s oil. It’s in the process of breaking out.<\/span>
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\nThe Asian\/Pacific markets closed mostly down, but losses weren’t great. Europe is down across the board – losses aren’t great there either. Futures here in the States suggests very small gap up open for the cash market. <\/span>
\nBanks closed at its lowest level since early August. Without them, the market goes nowhere.<\/span>
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\nAlong with the banks, the movement of the Russell is very important because it tends to lead the market in both directions. <\/span>
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\nUnemployment numbers come out 60 min before tomorrow’s open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings Reports<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
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