{"id":5371,"date":"2012-02-22T08:32:24","date_gmt":"2012-02-22T13:32:24","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5371"},"modified":"2012-02-22T08:32:24","modified_gmt":"2012-02-22T13:32:24","slug":"before-the-open-feb-22-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5371","title":{"rendered":"Before the Open (Feb 22)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Wednesday. <\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed; China, Japan and Taiwan rallied about 1%; Singapore dropped 1%. Europe is down across the board. Belgium and Stockholm are down 1%. Futures here in the States point towards a slight negative open for the cash market. <!--more--><\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is up. Oil and copper are flat. Gold and silver are down.<\/span><br \/>\n<span style=\"font-size: medium;\">For what it&#8217;s worth, Fitch has downgraded Greece into further junk status, from CCC to C, saying a default is highly likely in the near term. <\/span><br \/>\n<span style=\"font-size: medium;\">The market has traded quietly for two days. Volume has been light, the ranges small. Normally we&#8217;d look for a stiff move down under such circumstances, but shorting a dull market is not a good idea, and right now, shorting in general is not wise. The market is steadily trending up, and traditional analysis techniques have lost their usefulness. The trend will end when it ends, and nobody knows when that will be. It&#8217;s best to be long and hold on and not over-analyze things. <\/span><br \/>\n<span style=\"font-size: medium;\">I&#8217;m serious about this&#8230;don&#8217;t over analyze. This is the kind of market where a janitor makes more than a college proffessor because the janitor just goes with the flow without questioning anything while the college professor questions everything and misses the move. <\/span><br \/>\n<span style=\"font-size: medium;\">Supposedly gas prices are the highest they&#8217;ve ever been at this time of year. I wonder how this will effect consumer spending going forward &#8211; especially if they continue to rise into the summer. Here&#8217;s the crude oil chart. We got a breakout last week and some follow through yesterday. <\/span><br \/>\n<img src=\"http:\/\/leavittbrothers.com\/blog\/i\/oil022212.png\" alt=\"\" \/><br \/>\n<span style=\"font-size: medium;\">More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/www.marketwatch.com\/story\/newsviewer\">MarketWatch<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/www.briefing.com\/investor\/calendars\/upgrades-downgrades\/\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5362\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5364\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\");\ndocument.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\nvar pageTracker = _gat._getTracker(\"UA-6273151-1\");\npageTracker._initData();\npageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Wednesday. The Asian\/Pacific markets closed mixed; China, Japan and Taiwan rallied about 1%; Singapore dropped 1%. Europe is down across the board. Belgium and Stockholm are down 1%. Futures here in the States point towards a slight negative open for the cash market.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5371"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5371"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5371\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}