{"id":3216,"date":"2010-07-06T07:23:16","date_gmt":"2010-07-06T12:23:16","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3216"},"modified":"2010-07-06T07:23:16","modified_gmt":"2010-07-06T12:23:16","slug":"before-the-open-jul-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3216","title":{"rendered":"Before the Open (Jul 6)"},"content":{"rendered":"

Good morning. Happy Tuesday. Hope you had a nice long weekend.<\/span>
\nThe world is green. Every index in Asia\/Pacific closed up. Every market in Europe is currently up. Futures here in the States point towards a solid gap up open for the cash market. <\/span>
\nThe trend is down, but as pointed out over the weekend, there are several indicators which suggest an oversold condition exits and a bounce likely to play out soon. How far such a bounce goes is not known, but given the volatility, 80 S&P points isn’t out of the question. There are way too many people stacked on one side of the market, way too many people looking at the head-n-should top and getting giddy about a collapse. When such is the case, the market doesn’t oblige. <\/span>
\nIf we do get a bounce, know what you’ll do with your positions. Such decisions are made during non market hours, not in the heat of the moment. Either cover your shorts and look to re-initiate those positions or ride them out. Don’t be middle of the road. I personally like to cover and re-short. <\/span>
\nMore after the open. There’s no sense reposting charts that were already posted this weekend.<\/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