{"id":3830,"date":"2010-12-22T08:32:15","date_gmt":"2010-12-22T13:32:15","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=3830"},"modified":"2010-12-22T08:32:15","modified_gmt":"2010-12-22T13:32:15","slug":"before-the-open-dec-22-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=3830","title":{"rendered":"Before the Open (Dec 22)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed – no index moved more than 1%. Europe is currently mixed with an upward bias – no index has moved more than 1% there either. Futures here in the States are flat.<\/span>
\nYesterday was another good example as to why when the trend is strong, you buy and hold in an attempt to ride the trend for everything it’s worth rather than attempting to trade in and out. Even a boring, low-volume day can be very profitable, and if you exit with intentions of re-entering, you may not get a chance to re-enter.<\/span>
\nThe S&P has been up 13 of 15 days this month…a heck of a run, and it’s not sustainable. As the move continues, I get less interested in entering new positions because the risk\/reward becomes much less favorable. Right now the objective is to manage what we have and try to resist selling until Jan so we can delay paying taxes. Many funds who are sitting on nice profits probably aren’t doing much right now. They don’t want to mess up their yearly returns. Things will get much more interesting when the calendar flips over. Patience is needed, and while patience at times is not easy, it’s much easier to be patient within a trend than within chop.<\/span>
\nThat’s it for now. No chart to post. <\/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