{"id":5075,"date":"2011-11-30T08:43:54","date_gmt":"2011-11-30T13:43:54","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5075"},"modified":"2011-11-30T08:43:54","modified_gmt":"2011-11-30T13:43:54","slug":"before-the-open-nov-30-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5075","title":{"rendered":"Before the Open (Nov 30)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. China dropped 3%; Hong Kong and Taiwan dropped more than 1%. Malaysia rallied almost 2%. Europe is currently posting solid, across-the-board gains. Germany, France and Stockholm are up more than 3%. Belgium, Norway and London are up more than 2%. Futures here in the States are up big. <\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are up.<\/span>
\nChina cut its banks’ reserve requirements. This is the first cut in 3 years. Cutting the requirement means banks can lend a greater percentage of their reserves instead of keeping it in cash. This will help ignite their economy which is super strong overall but weaker than it has been recently. <\/span>
\nBut the big news revolves around the world’s central banks. They announced they would be working together to provide liquidity to the global financial system. The coordinated effort includes the European Central Bank, U.S. Federal Reserve, the Bank of England and the central banks of Canada, Japan and Switzerland. So instead of the US just sitting tight and watching things unravel in Europe, we’re getting involved. This headline is solely responsible for the futures surging (the S&P is up 35 an hour before the open and will be 80 off its Friday low as of today’s open).<\/span>
\nI’ve been playing it safe the last couple weeks. Last week I started feeling a little anxious; I thought I had missed a good short entry because I wasn’t aggressive enough or bearish enough. Now I don’t feel so bad. All of last week’s gains will be recaptured by today’s open.<\/span>
\nThe October rally was was in hopes Greece’s problems would be contained. Last week’s sell-off was in reaction to the financial stability of Spain, Italy and France deteriorating. Now we’re getting a rally this week on news the central banks around the world will be working together to prevent a global financial meltdown. I hate when the market is almost entirely controlled by unpredictable news. I haven’t made any money the last week, but I also slept well and didn’t lose any. Hopefully today’s news (not that I agree with it) can start a steady move into the end of the year. 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