{"id":2841,"date":"2010-03-24T07:21:47","date_gmt":"2010-03-24T12:21:47","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2841"},"modified":"2010-03-24T07:21:47","modified_gmt":"2010-03-24T12:21:47","slug":"before-the-open-mar-24","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2841","title":{"rendered":"Before the Open (Mar 24)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly up. Europe is currently down across the board. Futures here in the States point towards a moderate gap down open for the cash market.<\/span>
\nThis comes off a day where all the indexes made new highs…but volume was light.<\/span>
\nThe market keeps going and going. It won’t pullback – heck it can barely rest for a couple days. I understand the buying the the last two days (The market can deal with news (good or bad) as long as it knows what the news is. What the market doesn’t like is uncertainty, and this is exactly what was lifted with the House passing the health care bill.), but buying for seven straight weeks is a little much. It seems like my ‘melt up’ theory is playing out. <\/span>
\nHere’s the 30-min SPX chart off the Feb low. 120 points in 7 weeks. You don’t have to understand why…just determine the what and trade in that direction. The extent of the move may not make sense – don’t let that stop you from making money.<\/span>
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\nThe long side is the only side to be on. If the market suddenly reverses, so be it. I’ll go to cash and let the dust settle.<\/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>
\n