{"id":4336,"date":"2011-05-16T07:13:23","date_gmt":"2011-05-16T12:13:23","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4336"},"modified":"2011-05-16T07:13:23","modified_gmt":"2011-05-16T12:13:23","slug":"before-the-open-may-16","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4336","title":{"rendered":"Before the Open (May 16)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mostly down – Australia, Hong Kong, India and Taiwan lost more than 1%. Europe is currently down across the board – France, Germany and Amsterdam are down more than 1%. Futures here in the States point towads a gap dow for the cash market which will open the indexes at or below Friday’s low.
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\nThe dollar is up. Gold, silver and oil are down.<\/span>
\nI don’t have much to say that I didn’t say over the weekend in the report posted Sunday morning. The market was in a fragile position when last week began, and after 5 days of trading, nothing was resolved, and the fragile condition remains. The difference now is prices have had more time to coil up due to at least one lower high and one higher low. Here are the 60-min index charts. For two weeks dips have gotten bought and rallies sold, but sooner or later odds favor a trending move out of these patterns.<\/span>
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\nOptions expire this week – this has tended to be a positive for the market. I’ll be posting my monthly Open-Interest report after today’s close. The other positives such as the presidential cycle are longer term positives and therefore have no bearing on what happens day to day or even week to week. <\/span>
\nI sold my longs the day after bin-Laden was killed and have been mostly laying low since. I like to play trends, and obviously we haven’t had a trend the last couple weeks. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nyesterday’s sector performance<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
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