{"id":3706,"date":"2010-11-11T08:32:09","date_gmt":"2010-11-11T13:32:09","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3706"},"modified":"2010-11-11T08:32:09","modified_gmt":"2010-11-11T13:32:09","slug":"before-the-open-nov-11-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3706","title":{"rendered":"Before the Open (Nov 11)"},"content":{"rendered":"

Good morning. Happy Thursday. Happy Veteran’s Day.<\/span>
\nThe Asian\/Pacific markets closed mixed and with a bearish slant. Europe is currently mostly down. Futures here in the States point towards a moderate gap down open for the cash market. <\/span>
\nThe big news today comes from CSCO which did well with earnings but then issued warnings about the next couple quarters. Warnings of challenging times are not good, but coming from CSCO it’s even worse because their CEO is among the most bullish people out there. He is always super positive. The stock is down over 16% premarket. <\/span>
\nThe market has been moving opposite the market’s mood lately, so heading into today I was leaning to the downside because yesterday was one of the strongest closes we’ve had in over a month. More than two-thirds of the S&P 1500 closed in the upper 30% of their intraday range, and more than half closed in the upper 10%. Even on a strong day it’s not common for that many stocks to close at an extreme.<\/span>
\nI maintain my stance the on an intermediate term basis the trend is solidly up, and believe it will continue to be up. Short term things are less clear, so I’m patiently waiting for the charts to reset. Here’s the 5-day, 5-min SPX chart. There’s nothing very telling here, and we still have last week’s big gap up partially unfilled. 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