{"id":4224,"date":"2011-04-21T07:22:01","date_gmt":"2011-04-21T12:22:01","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4224"},"modified":"2011-04-21T07:22:01","modified_gmt":"2011-04-21T12:22:01","slug":"before-the-open-apr-21-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4224","title":{"rendered":"Before the Open (Apr 21)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Thursday.<\/span><br \/>\n<span style=\"font-size: medium;\">Tha Asian\/Pacific markets closed mostly up &#8211; there were several 1% winners. Europe is up across the board. Futures here in the States point towards another gap up open for the cash market &#8211; not as big as yesterday, but still sizeable.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">Yesterday the Dow made a new high, and today the S&amp;P will open about 7 points from its high. Pretty amazing if you ask me. There&#8217;s been so much negative news out the last two months, and the bears could never take control of things. All they could do is push prices down a small amount, but the bulls were always there to defend their turf. Throw in a couple good earnings reports, and here we are near the highs. The indexes are in good shape, and charts of individual stocks are greatly improved. <\/span><br \/>\n<span style=\"font-size: medium;\">Of course this is on the back of the dollar making a new low. When the currency goes down (get devalued), prices move up. Just like the price of a loaf of bread is up, the price of the stock market is up too. <\/span><br \/>\n<span style=\"font-size: medium;\">The long term trend is up (it has always been up, shame on anyone for thinking otherwise). The short term trend briefly turned down (lower highs and lower lows were in place), but is now neutral. Trade the charts as they unfold, not as you think they should unfold. <\/span><br \/>\n<span style=\"font-size: medium;\">The market is closed tomorrow, so this being the last trading day of the week, I wonder who will flinch first. Will shorts throw in the towel and cover or will longs take profits? I&#8217;m not predicting a huge runaway up day, but I do think the odds the market takes out the early-week lows are greatly diminished. More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/briefing.com\/Investor\/Public\/Calendars\/UpgradesDowngrades.htm\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=4213\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\");\ndocument.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar pageTracker = _gat._getTracker(\"UA-6273151-1\");\npageTracker._initData();\npageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Thursday. Tha Asian\/Pacific markets closed mostly up &#8211; there were several 1% winners. Europe is up across the board. Futures here in the States point towards another gap up open for the cash market &#8211; not as big as yesterday, but still sizeable.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/4224"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4224"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/4224\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}