{"id":4238,"date":"2011-04-27T07:15:33","date_gmt":"2011-04-27T12:15:33","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4238"},"modified":"2011-04-27T07:15:33","modified_gmt":"2011-04-27T12:15:33","slug":"before-the-open-apr-27-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4238","title":{"rendered":"Before the Open (Apr 27)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed; Japan and Taiwan gained more than 1%. Europe is up across the board. Futures here in the States point towards a positive open for the cash market.
\n<\/span>
\nYesterday the Dow, Nas and S&P made new highs; the Russell isn’t too far behind. Not bad considering last week everyone was thinking a major correction was in the works…especially after Monday’s big gap down and sell off. Yet here we are at new highs…whether it makes sense or not. <\/span>
\nToday is Fed day. News trumps the charts, so the bullish technicals take a back seat right now, but while the Fed often causes a hiccup in the near term, they rarely change the overall sentiment. Also, there’s been a strong tendency for the market to move one way after the 2:15 EST announcement and then reverse course the next day…something to keep in the back of your mind.<\/span>
\nThe upside is the only side I’m looking to play right now. If yesterday’s breakout ends up being a false move, fine. But the odds say get long (selectively, don’t buy in front of earnings).<\/span>
\nI may or may not step out today to go to the hospital. It’ll be a last minute decision. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n