{"id":5353,"date":"2012-02-16T08:29:50","date_gmt":"2012-02-16T13:29:50","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5353"},"modified":"2012-02-16T08:29:50","modified_gmt":"2012-02-16T13:29:50","slug":"before-the-open-feb-16-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5353","title":{"rendered":"Before the Open (Feb 16)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed down across the board. Australia, Singapore, South Korea and Taiwan each dropped more than 1%. Europe is currently down. Austria and Germany are down more than 1%. Futures here in the States point towards a moderate gap down open for the cash market. <\/span>
\nThe dollar is up. Oil and copper are down. Gold and silver are down. <\/span>
\nEurope remains in the headlines. There’s uncertainty over Greece getting another bailout which will enable them to avoid defaulting next month (kind of funny…Europe gives Greece money, then Greece turns around and gives it back in the form of a debt payment). The borrowing rates for Spain and Italy rose, and the euro dropped. <\/span>
\nIn the near term the market needs to pull back or at least continue resting (from a technical standpoint). In the intermediate term, the trend is strong enough that a pull back should get bought and new highs eventually made again. In a way, it’s nice we have this uncertainty from Europe at the same time the market needs to correct anyways…get ’em overwith at the same time.<\/span>
\nDon’t be a hero out there. As of today’s open the S&P will be unchanged since its February 3rd open. The number of good set ups we have to work with has declined, and the success of the set ups has not been as good as two weeks ago. Don’t force things. It’s better to sit in cash and wait for the market to settle down than force the issue and dig yourself a hole. 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