{"id":3072,"date":"2010-05-25T07:29:53","date_gmt":"2010-05-25T12:29:53","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3072"},"modified":"2010-05-25T07:29:53","modified_gmt":"2010-05-25T12:29:53","slug":"before-the-open-may-25","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3072","title":{"rendered":"Before the Open (May 25)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nIt’s not such a happy day for world stock markets – they’re tumbling. The Asian\/Pacific markets suffered big, across-the-board losses…several fell more than 3%. Europe is currently getting clobbered. Futures here in the States point towards a huge gap down for the cash market. Today’s S&P open will be below Friday’s gap down open and not very far from February’s low. What took three months to gain has barely taken three weeks to give back. <\/span>
\nI’ve said several times if you find yourself hoping for a bounce to get short, it probably won’t happen. That’s how bear markets work. They don’t give you a second chance to get short. They just fall day after day and before you know it, the S&P is down another 100, and you’re sitting watching. That’s why I’ve said I will maintain short exposure during the entire process. If the market bounces, fine, I’ll add to my positions. If the market falls apart, at least I have some exposure.<\/span>
\nIn many cases, the internals are as bad as they were at the March 2009 low. The difference is March 2009 came after an extended 18-month downtrend. The currently downtrend has only lasted four weeks – it may be just getting started.<\/span>
\nHere’s the S&P weekly. If it’s gonna bounce, today’s open near the trendline drawn would be a good place. 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>
\n