{"id":4253,"date":"2011-05-02T07:21:20","date_gmt":"2011-05-02T12:21:20","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4253"},"modified":"2011-05-02T07:21:20","modified_gmt":"2011-05-02T12:21:20","slug":"before-the-open-may-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4253","title":{"rendered":"Before the Open (May 2)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Monday. Hope you had a nice weekend.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed (some of markets were closed today). Europe is mostly up; there are no 1% winners. Futures here in the States point towards a solid gap up open for the cash market. <!--more-->This of course comes on the heels of all the indexes making new highs and closing new their highs. <\/span><br \/>\n<span style=\"font-size: medium;\">Last night it was announced Osama Bin Laden had been killed. This is nice, but to me it&#8217;s more symbolic than anything. He wasn&#8217;t running the day to day operations of al-Quaida any more, and many say he was acting as a retired chairman of the board. There are many others fully capable of running the organization. al-Quaida is alive and well, and they will be looking for revenge. Hopefully the US doesn&#8217;t let down its guard.<\/span><br \/>\n<span style=\"font-size: medium;\">Futures jumped on the news but have settle down some since last night. Commodities are down. Silver is getting hit hard, but that has more to do with margin requirements on the metal being raised. <\/span><br \/>\n<span style=\"font-size: medium;\">The long term trend is solidly up; the short term trend is solidly up. The most bearish arguement that could be made right now is that the market needs a rest after great performace of the last two weeks. Otherwise the market is clicking on all cylinders, and I see no reason to be anything other than long.<\/span><br \/>\n<span style=\"font-size: medium;\">If there was a warning sign it comes from copper prices which topped out in mid February and are very close to hitting their lowest level since December. Otherwise everything supports the uptrend. <\/span><br \/>\n<span style=\"font-size: medium;\">I usually don&#8217;t have much to say on Monday&#8217;s because I put all my thoughts in the weekend report. Today is no different. I&#8217;ll have more comments to make 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=4250\">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 Monday. Hope you had a nice weekend. The Asian\/Pacific markets closed mixed (some of markets were closed today). Europe is mostly up; there are no 1% winners. Futures here in the States point towards a solid gap up open for the cash market.<\/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\/4253"}],"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=4253"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/4253\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}