{"id":4211,"date":"2011-04-15T07:19:16","date_gmt":"2011-04-15T12:19:16","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4211"},"modified":"2011-04-15T07:19:16","modified_gmt":"2011-04-15T12:19:16","slug":"before-the-open-apr-15-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4211","title":{"rendered":"Before the Open (Apr 15)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed mostly down, but losses were small. Europe is currenly mixed; there are no big winners or losers. Futures here in the States suggest a down open for the cash market.
\n<\/span>
\nThe market staged a semi impressive reversal yesterday, but volume was weak and I didn’t sense there was excitement and enthusiasm with the move off the lows. It felt like a seller’s strike. It seemed like an innocent bounce coming off several down days. If a bottom has been put in place, the market has some proving to do. <\/span>
\nGOOG had earnings yesterday. The street didn’t like the spending spree they went on and is giving the stock a 5% haircut to send a message to the new CEO they don’t approve.<\/span>
\nBAC had earnings this morning. They reported a 37.5% Q1 earnings decline, but the stock is flat before today’s open.<\/span>
\nMoody’s cut Ireland’s credit rating two levels.<\/span>
\nThe bottom line remains the same. The overall trend is up; the near term trend is not clear. And there are virtually no good set ups to be had. Trading is not hard when you trade the easy ones, the ones that jump off your computer screen at you. Right now those don’t exist. This means we have to lay low and be patient. There are lots of trading days ahead and lots of money to be made, but from time to time we sometimes have to sit tight and wait rather than force trades. That’s where I’ve been this week. I had very few good set ups coming into this week, and as I now I still don’t see many. Don’t force trades. 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