{"id":4870,"date":"2011-09-21T07:30:39","date_gmt":"2011-09-21T12:30:39","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4870"},"modified":"2011-09-21T07:30:39","modified_gmt":"2011-09-21T12:30:39","slug":"before-the-open-sep-21-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4870","title":{"rendered":"Before the Open (Sep 21)"},"content":{"rendered":"

Good morning. Happy Wednesday. Happy Fed Day.<\/span>
\nThe Asian\/Pacific markets closed mostly up. Hong Kong and Indonesia lost more than 1%. China rallied 2.7%. Europe is mostly down. France, Germany, Amsterdam and London are down more than 1%. Futures here in the States point towards a small gap down for the cash market.<\/span>
\nSo the Fed meets today and announces their target for overnight rates. They of course won’t change anything since they’ve already said rates will remain low for two more years. They could however mention QE3 or not mention QE3. The market could jump up or dump down quickly. But the Fed rarely changes the market. They often cause a quick move in the near term, but in time the market goes back to what it was before the FOMC. <\/span>
\nWhat is the market. Long term the trend is down. Short\/Intermediate term there is no trend. Rallies get sold, dips get bought. Moves don’t last long. The intraday swings provide nice opportunities for day traders, but the lack of consistent near term direction makes life for a swing trader much harder. It’s not impossible to trade this, we just have to shorten our holding times and be content with smaller gains.<\/span>
\nBe conservative out there. This isn’t a time to size up and be aggressive. 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