{"id":4437,"date":"2011-06-07T07:22:26","date_gmt":"2011-06-07T12:22:26","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4437"},"modified":"2011-06-07T07:22:26","modified_gmt":"2011-06-07T12:22:26","slug":"before-the-open-jun-7-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4437","title":{"rendered":"Before the Open (Jun 7)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed – there were no standout winners or losers. Europe is currently mixed – no standouts there either. Futures here in the States point towards a moderate gap up open for the cash market.
\n<\/span>
\nThe dollar is down…silver and gold are up…oil is down.<\/span>
\nThe market doesn’t look very good right now. On top of the May downtrend, we’ve had 4 days of stiff losses that have put the indexes below their April and May lows. The falling patterns which gave the bulls hope have been invalidated. Several key sectors such as the financials, semiconductors, transports and others are well off their highs and not looking the least bit healthy. <\/span>
\nOn a shorter term time frame, some indicators are getting stretch to the downside, but otherwise, the intermediate term trend is down so rallies are to be sold until it becomes obvious that’s not a good idea. <\/span>
\nIt’s getting too late to short this leg down. I’d be a little cautious about entering new positions. Manage what you have and wait for the next bounce to re-short or add to positions. Tops take time to form. There are lots of up and down moves, so there’s usually second and third chances. Maintain some exposure just in case the market falls apart, but otherwise I wouldn’t chase things down here. 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>
\n