{"id":4678,"date":"2011-07-28T07:28:50","date_gmt":"2011-07-28T12:28:50","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4678"},"modified":"2011-07-28T07:28:50","modified_gmt":"2011-07-28T12:28:50","slug":"before-the-open-jul-28-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4678","title":{"rendered":"Before the Open (Jul 28)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. Australia, India and Japan lost more than 1%. Europe is down across the board. Austria, Belgium, France, Germany and Stockholm are down more than 1%. Futures here in the States points towards a flat open for the cash market.
\n<\/span>
\nThe dollar is up. Gold is up slightly; silver is down. Oil is flat.<\/span>
\nI don’t have anything to add to the comments I made yesterday after the close. Wall St. doesn’t like uncertainty; it doesn’t like to be left in limbo; it doesn’t like to guess. It can handle almost anything you throw its way, but it needs to know what’s being thrown at it and when. As long as Wall St. has to wait, prices will not catch a bid, and as the debt ceiling deadline approaches, the urge to reduce risk increases. Hence the selling.<\/span>
\nSmall caps tend to lead the market both up and down. When the market does well, the small caps out-perform. When the market is weak, the small caps under-perform. Lately they’ve under-performed. While the Nas 100 made a new high and the Dow nearly matched its high and the other indexes got close, the Russell small caps did not. Now on the way down, all the indexes have held their previous lows while the small caps have made a lower low. I’m sure some of the under-performance is due to money rotating from the small caps to large caps with the uncertainty looming in Washington, but regardless of the excuse, it’s still not a good thing.<\/span>
\n\"\"
\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