{"id":4893,"date":"2011-09-28T07:39:41","date_gmt":"2011-09-28T12:39:41","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4893"},"modified":"2011-09-28T07:39:41","modified_gmt":"2011-09-28T12:39:41","slug":"before-the-open-sep-28-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4893","title":{"rendered":"Before the Open (Sep 28)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed and for a change there were no big winners or losers. Only Indonesia moved more than 1% (up 1.1%). Europe is currently mixed, but there are no big movers there either. Futures here in the States point towards a small gap up open for the cash market. <\/span>
\nThings are very unclear in the near term. After the indexes broke support last week and took out their most recent low from within their patterns, they’ve bounce 3 straight days and now lie smack in the middle of their ranges. Here’s the S&P daily. We’ve had lots of up and down movement and lots of ground covered in a relatively short period of time, but there is no net change in almost 8 weeks. Day traders have had lots to play with. Swing traders have had to significantly reduce their holding time. Ideally a swing trader would want to hold for several weeks or longer to give charts every opportunity to fully run their courses, but for the last two months, holding times have mostly been less than a week. That’s the way it goes. You have to be flexible and take what the market gives.<\/span>
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\nEurope remains in Wall Street’s cross hairs, so risk remains high. A big move in either direction could happen fast, so keep that in mind when you decide how aggressive to be and how big your positions are. This is not a “coast is all clear” time. 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>
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