{"id":4235,"date":"2011-04-26T06:56:23","date_gmt":"2011-04-26T11:56:23","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4235"},"modified":"2011-04-26T06:56:23","modified_gmt":"2011-04-26T11:56:23","slug":"before-the-open-apr-26","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4235","title":{"rendered":"Before the Open (Apr 26)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down, but the losses were minimal. Europe is currently mostly up; the gains are small. Futures here in the States point towards a gap up open for the cash market.
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\nMost of Asia and Europe were closed yesterday, and it showed in the US. The market barely moved. Now we are the day before an FOMC meeting – a meeting more important than the previous several – so the market may again be quiet. <\/span>
\nThis is lucky for me since I unexpectedly wasn’t here yesterday and again won’t be here today…although this time I’ll have my laptop with me, so I’ll be able to keep up with things. <\/span>
\nSince not much happened yesterday, the comments I made in my weekly report on Sunday and video I posted on the blog stand. <\/span>
\nThe overall trend is up; the near term trend is greatly improved. Although the Dow is at a new high, the other indexes have are not and therefore have some resistance to deal with. The state of the market is positive, and I’m only looking at long plays. If things change, fine, I’ll change my stance, but for now, going long is the only way for me. <\/span>
\nYesterday, silver (the metal) made a new all-time high, but the silver stocks all got hit pretty hard. I’m bullish silver overall, but in the near term there’s no way I’m long with a trading position. Let the stocks come down and shake out the weak holders. Then you’ll get some great buying opporunities. <\/span>
\nBanks were weak yesterday. It will be a concern if the market busts out, and they don’t come along for the ride. For now it the divergence doesn’t bother me.<\/span>
\nRare earth stocks were back in play yesterday…MCP and REE had great days. AVL was weak early but closed positive. The group is solid and should be bought on pullbacks.<\/span>
\nI will check in from time to time from the hospital, but I won’t be watching too closely. Have a great day. I’ll be back on my normal schedule tomorrow (coincidentally my wife’s mother is arriving in town tonight, so she’ll be able to watch one of the little ones during market hours).<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
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