{"id":4639,"date":"2011-07-20T07:20:14","date_gmt":"2011-07-20T12:20:14","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4639"},"modified":"2011-07-20T07:20:14","modified_gmt":"2011-07-20T12:20:14","slug":"before-the-open-jul-20-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4639","title":{"rendered":"Before the Open (Jul 20)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets are mostly up – Australia, Japan, South Korea and Taiwan are posting nice gains. Europe is currently up across the board – most of the indexes are posting 1% gains or better. Futures here in the States point towards a moderate gap up open for the cash market.
\n<\/span>
\nAAPL did great with earnings. The stock is up better than 5% before the open to trade near 400. Amazing considering the stock was in the low 300’s just a month ago. Large cap stocks (it’s the largest cap stock) don’t typically move 30% in a month. Amazing.<\/span>
\nThe dollar is down. Gold and silver are down. Oil is up and getting close to 100 again.<\/span>
\nHere’s the 60-min S&P chart since the beginning of this year. We’ve gotten some nice tradable swings in both directions, but entering with the thought you could hold and ride a trend has led to frustration. Dips have been bought; rallies sold. If you’re bullish, you’ve gone back and forth between being happy and pissed off. If you’re bearish, you’ve gone back and forth between being excited and hopeful and frustrated. From a trading standpoint, there’s nothing wrong with the movement. The market goes up and down; our job is to ride it in both directions or at the very least know when to head to the sidelines when appropriate. <\/span>
\n\"\"
\nThe market has been in consolidation mode since the beginning of the year. The market is likely to jump when the debt ceiling situation gets resolved, and then who knows. The market may continue to trade range bound for another 6-7 weeks until the fall season begins. Fine with me. 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