{"id":5259,"date":"2012-01-19T08:38:01","date_gmt":"2012-01-19T13:38:01","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5259"},"modified":"2012-01-19T08:38:01","modified_gmt":"2012-01-19T13:38:01","slug":"before-the-open-jan-19-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5259","title":{"rendered":"Before the Open (Jan 19)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed up across the board. China, Hong Kong, India, Japan and South Korea each moved up more than 1%. Europe is currently up. Austria, Belgium, France and Amsterdam are up 1%. Futures here in the States point towards a moderate gap up open for the cash market.
\n<\/span>
\nThe dollar is down. Oil and copper are up. Gold and silver are up.<\/span>
\nThe market continues to chug along. It has moved up 17 of the last 22 days. Dips have gotten bought. Gap downs have gotten bought. Many groups and many more individual stocks have done very well.<\/span>
\nAll the indexes have closed above their October highs. Once again it has paid to just go with the flow rather than being in denial. Lately I’ve been a little cautious, and it’s probably cost me a couple bucks. Oh well. Being cautious doesn’t mean I cash out and go short. It means I view new positions as shorter term trades because the risk\/rewards aren’t great. I don’t go short just because things are a little extended. Within an uptrend, I go back and forth between being long and being closer to the sidelines. I’m fully aware of all the bad that’s going on in the world. I’m also fully aware of how dumb it is to fight a market that wants to move up.<\/span>
\nAbsent very bad unexpected news, the market should continue higher. My SPX target is 1350 – another 40+ points to go. This doesn’t mean it will continue moving in a straight line – it just means given the indicators, given the broad participation, given the strength in some key groups, there’s more upside to go. Don’t fight it. More after the open.<\/span>
\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