{"id":4998,"date":"2011-11-04T07:34:47","date_gmt":"2011-11-04T12:34:47","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=4998"},"modified":"2011-11-04T07:34:47","modified_gmt":"2011-11-04T12:34:47","slug":"before-the-open-nov-4-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=4998","title":{"rendered":"Before the Open (Nov 4)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed up across the board. Hong Kong and South Korea rallied more than 3%; Australia and Indonesia gained more than 2%. Europe is currently mixed. Germany and France are down, and Stockholm and London are up. Futures here in the States prior to the release of the latest employment numbers pointed towards a weakish open for the cash market, but this can obviously change. <\/span>
\nWe’ve gotten big gap downs on Monday and Tuesday and decent gap ups on Wednesday and Thursday. The indexes are down for the week, but so far November is an up month. This isn’t bad considering October was one of the best months in two decades and the best October in 25 years. Unfortunately the charts of many individual stocks are a total mess. After having many great set ups to play last month, I don’t see much to work with now. Support and resistance are hard to define, so we don’t have a frame of reference to trade from. The charts need to reset, and I’m laying low until that happens. If it takes a few days, fine. If it takes a week, that’s fine too.<\/span>
\nHere are the employment numbers:<\/span>
\nunemployment rate: 9.0% (from 9.1%)
\nnonfarm payrolls: up 80K
\nprivate payrolls: up 104K
\naverage workweek: stayed same – 34.3 min
\nhourly earnings: up 0.2%<\/span><\/span><\/span><\/span><\/span>
\nThe futures moved up to being flat on the news. <\/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