{"id":4769,"date":"2011-08-15T07:35:26","date_gmt":"2011-08-15T12:35:26","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4769"},"modified":"2011-08-15T07:35:26","modified_gmt":"2011-08-15T12:35:26","slug":"before-the-open-aug-15","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4769","title":{"rendered":"Before the Open (Aug 15)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed up across the board. Hong Kong rallied over 3%; Australia and Taiwan moved up more than 2%; several others gained more than 1%. Europe is currently posting across-the-board gains. Austria, Norway and Switzerland are leading the way. Futures here in the States point towards a gap up for the cash market.
\n<\/span>
\nI don’t have anything to add to the report I wrote over the weekend. Last week was a wild one…S&P down 50 one day and up 50 the next. Huge volatility, huge movement, no trend. It was great for day trading but not so good for swing trading. <\/span>
\nIn most cases the charts have completely broken down. Longer term trendlines have been taken out, so my bias is now to the downside. But I’m not short any more. I’m watching and want the market to make its next move because it’s close to no-man’s land. From the current level, if the market drifts up on light volume or just rolls over here, I’ll initiate new shorts. But if the market continues up with solid volume and some energy behind the move or if the market drifts back on light volume, I’ll look to buy a dip. The indexes are somewhat in the middle and need to show their cards. I think the next couple days could go a long way hinting at the movement for the rest of the week. More afer 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