{"id":5117,"date":"2011-12-08T08:34:44","date_gmt":"2011-12-08T13:34:44","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5117"},"modified":"2011-12-08T08:34:44","modified_gmt":"2011-12-08T13:34:44","slug":"before-the-open-dec-8-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5117","title":{"rendered":"Before the Open (Dec 8)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed down across-the-board, but only Singapore dropped more than 1%. Europe is mixed with a slight bullish bias. There are no 1% movers. Futures here in the States point towards a flat open for the cash market.
\n<\/span>
\nThe market moved up again yesterday, but the gains were small and the movement lacked conviction. It was the fifth consecutive day the market lacked any type of intraday direction. It moved up and down, and if the closing bell rang 30 min sooner or later, small losses could have easily been recorded. I don’t like the slow, range-bound movement that comes on light volume. No doubt the market is resting and waiting for news from Europe tomorrow. My bias is to the long side, but there’s a small part of me that cautions to be careless – perhaps we’ll have a sell the news scenario. The S&P is, after all, up over 100 points the last two weeks. On the flip side we are warned not to short a dull market. I’ve seen these “slow grinds up” quickly surge to the upside, so I have little interest in going short here.<\/span>
\nAt this point in time, entering a trade is like entering a trade the day before an FOMC meeting. You have to guess the result and guess the market’s reaction. No thanks. I’m a technical trader, not a guesser of good or bad news.<\/span>
\nHaving said this, the 1260 area seems to be an important one for the S&P. More after the open.<\/span>
\n\"\"
\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n