{"id":2935,"date":"2010-04-20T06:26:23","date_gmt":"2010-04-20T11:26:23","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=2935"},"modified":"2010-04-20T06:26:23","modified_gmt":"2010-04-20T11:26:23","slug":"before-the-open-apr-20","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=2935","title":{"rendered":"Before the Open (Apr 20)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets rebounded from Monday’s stiff selling pressure. They closed mostly up with moderate gains. Europe is currently posting solid across-the-board gains, and futures here in the States point towards a gap up open for the cash market. <\/span>
\nYesterday the market took out Friday’s low and then rallied. Throw in today’s gap up open and half of Friday’s intense selling will be recovered. The jury is still out as to whether the Goldman news is a big deal. As I stated over the weekend, it could have a psychological effect – especially the uncertainty of it – but otherwise I didn’t think it was anything to be worried about. In the end the market gets to make the final decision, and I’ll follow the market’s lead. But if I was operating in a vacuum, I personally wouldn’t pay too much attention. My reason is very simple. Goldman is a publicly traded hedge fund. They make most of their money trading, not via investment banking. If they do well, it’s not because the economy is doing well, and if they do poorly, it’s not because the economy is contracting. Goldman is not a proxy for anything other than perhaps market volatility which makes it easier to make money.<\/span>
\nThe conditions that existed over the weekend still exist. The personality of earnings season has yet to be determined…it’s unknown if there’ll be a little give back after options expiration…several breadth and sentiment indicators point towards a need for the market to correct before continuing up. Here’s an update of the chart I posted yesterday. For what it’s worth, support held. More after the open.<\/span>
\n\"\"
\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><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Tuesday. The Asian\/Pacific markets rebounded from Monday’s stiff selling pressure. They closed mostly up with moderate gains. Europe is currently posting solid across-the-board gains, and futures here in the States point towards a gap up open for the cash market.<\/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\/2935"}],"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=2935"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/2935\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}