{"id":3683,"date":"2010-11-04T07:31:23","date_gmt":"2010-11-04T12:31:23","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3683"},"modified":"2010-11-04T07:31:23","modified_gmt":"2010-11-04T12:31:23","slug":"before-the-open-nov-3-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3683","title":{"rendered":"Before the Open (Nov 4)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mostly up – there were several 1 & 2% winners. Europe is posting solid across-the-board gains. Futures here in the States point towards a large gap up open for the cash market.<\/span>
\nThe Nas has moved up 17 of the last 20 days and is above its April high; the Dow will open above its April high if the current futures level holds; the S&P will open about 15 below its high; and while the Russell has lagged some, it has done great the last couple days. I’ve been saying for several weeks I expected the April highs to be tested this winter…I didn’t think they’d get tested so soon.<\/span>
\nTwo of the three major news events are behind us. We now only have the employment report tomorrow before the open. <\/span>
\nThere are lots of gurus that have been expecting a pullback following the election – a buy the rumor, sell the news situation. For now they’ve been proven wrong along with the bears who keep trying to pick a top. It’s so important to trade what happens, not what you think should happen. If you’re trading a billion-dollar fund, fine, you can’t exactly turn on a dime. But if you’re an individual trader or a small fund, it would take you a couple seconds to reverse your entire portfolio. Liquidity is not an issue today, so you don’t have to guess when the market is going to turn.<\/span>
\nAnyways the trend remains up, so that’s the way I’ll continue to play the market. But I’m still on the lookout for the three scenarios I mentioned in yesterday’s report. More after the 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>
\n