{"id":4867,"date":"2011-09-20T07:33:57","date_gmt":"2011-09-20T12:33:57","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4867"},"modified":"2011-09-20T07:33:57","modified_gmt":"2011-09-20T12:33:57","slug":"before-the-open-sep-20-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4867","title":{"rendered":"Before the Open (Sep 20)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. India moved up 2.1%; Japan moved down 1.6% – those were the only 1% movers. Europe is up across the board. Germany is up 2.2%; several other indexes are up better than 1%. Futures here in the States point towards a moderate gap up open for the cash market. <\/span>
\nYesterday morning was a reminder that when the market is range bound, it’s better to be proactively ahead of the curve taking profits rather than passively trailing stops behind positions. Then yesterday afternoon was a reminder the market is still very much being held hostage to what happens in Europe. Does Greece default – yes or no? Hence the market presents a great day trading environment but not a swing trading environment. <\/span>
\nLonger term I still believe a top has been put in place and a downtrend underway. We are after all trading in a bear flag beneath intermediate and long term support.<\/span>
\nThe Good:<\/strong> Semis have done well lately.<\/span>
\n\"\"
\nThe Neutral:<\/strong> Banks are range bound. Any rally without the banks will be short lived.<\/span>
\n\"\"
\nThe Bad:<\/strong> Copper is breaking down.<\/span>
\n\"\"
\nBe conservative. The near term is cloudy and tomorrow in an FOMC day.<\/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