{"id":5350,"date":"2012-02-15T08:45:34","date_gmt":"2012-02-15T13:45:34","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5350"},"modified":"2012-02-15T08:45:34","modified_gmt":"2012-02-15T13:45:34","slug":"before-the-open-feb-15-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5350","title":{"rendered":"Before the Open (Feb 15)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed up across the board. Hong Kong, Japan and India rallied 2%; China, South Korea and Taiwan moved up better than 1%. Europe is currently up across the board. Austria, Germany and Stockholm are up more than 1%. Futures here in the States point towards a moderate gap up open for the cash market.<\/span>
\nThe dollar is up. Oil is up. Copper is down. Gold and silver are up.<\/span>
\nHere are the daily index charts. Although the market suffered its biggest down day of the year last Friday, and yesterday the market was weak most of the day, these charts look rock solid. The only notable is the slight under performance of the Russell small caps recently. The small caps do tend to lead the market is both directions, so it’s worth keeping an eye on. Otherwise the trend is solid.<\/span>
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\nI don’t mean to sound like a broken record when offering my stance on the market, but nothing has changed to force me to change. The trend is up, so the only direction I’m interested in playing is the long side. For many reasons, a pause or correction that would allow the indicators to cycle down is due. So in the near term I’m cautiously bullish. The bullish part means I only want to be long. The cautious part means I’m doing less trades and using smaller sizes, and with some, I’m being quicker to take profits. In the intermediate term, I’m bullish. If a correction plays out, I’d expect it to get bought and new highs to be made. In the long term, I have no clue. I don’t have a crystal ball. 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>
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