{"id":4447,"date":"2011-06-09T07:35:31","date_gmt":"2011-06-09T12:35:31","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4447"},"modified":"2011-06-09T07:35:31","modified_gmt":"2011-06-09T12:35:31","slug":"before-the-open-jun-9-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4447","title":{"rendered":"Before the Open (Jun 9)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. China and New Zealand lost more than 1%. Europe is currently mixed – there are no big winners or losers. Futures here in the States point towards a positive open for the cash market.
\n<\/span>
\nWe’ve had six consecutive down days. There are no good longs to be had, and shorts are too far gone to chase. We need to manage what we have and let the market play out right now. I’d recommend maintaining short exposure just in case the market melts down, but be ready to for a bounce which will play out sooner rather than later. Markets don’t move uninterruptedly in one direction. <\/span>
\nSentiment right now is not good, not healthy. When good news comes out, gaps get sold into; rising prices are fleeting. When bad news comes out, there are no buyers whatsoever. This is a far cry from how a strong market acts (bad news gets ignored; good news gets embraced). <\/span>
\nFrom a technical standpoint the indexes are in bad shape. From a psychological standpoint, the market is very fragile. It would take much to reverse the feelings on Wall St. right now. <\/span>
\nMaintain short exposure and be ready for a bounce. 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