{"id":4865,"date":"2011-09-19T07:30:59","date_gmt":"2011-09-19T12:30:59","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4865"},"modified":"2011-09-19T07:30:59","modified_gmt":"2011-09-19T12:30:59","slug":"before-the-open-sep-19","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4865","title":{"rendered":"Before the Open (Sep 19)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed down across the board. Hong Kong and Indonesia dropped more than 2%. Several other indexes lost more than 1%. Europe is currently suffering stiff losses. Austria, Belgium, France, Germany and Amsterdam are down more than 2%. Futures here in the States point towards a large gap down for the cash market. <\/span>
\nI don’t have anything to add to my weekend report. Last week was a decent week; it was nice to see the semis do so well, but the market is hardly in bull mode. Several indicators moved up but not to the degree one would expect considering the 5 straight up days. Banks did relatively well but are still lagging, and it’s a concern copper and oil did not participate in the rally. <\/span>
\nIn my opinion the indexes are range bound, so we still need to be ahead of the curve taking profits. That means you can’t just put a stop below a recent low and let positions run their courses. Instead it’s better to exit when you can, not when the market pulls back and forces your hand. <\/span>
\nThe dollar is up 0.8% – that’s not helping things this morning…the market likes a weak dollar. <\/span>
\nHere’s the SPX daily. The overall trend remains down. Last week’s move was nothing more than a bounce within a 5-week range (perhaps to piss off option buyers who were positioned to profit from weaker prices).<\/span>
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\nBe conservative out there. This isn’t a time for big bets. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n