{"id":5485,"date":"2012-03-29T07:27:30","date_gmt":"2012-03-29T12:27:30","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5485"},"modified":"2012-03-29T07:27:30","modified_gmt":"2012-03-29T12:27:30","slug":"before-the-open-mar-29-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5485","title":{"rendered":"Before the Open (Mar 29)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. Taiwan dropped 2%; China and Hong Kong dropped more than 1%. Europe is currently mostly down. Germany, Amsterdam, Norway and Stockholm are down more than 1%. Futures here in the States point towards down open for the cash market.
\n<\/span>
\nThe dollar is up slightly. Oil is down, copper is up. Gold and silver are down. <\/span>
\nYesterday the bulls got a little scare, but in the grand scheme of things it was just an ordinary down day within a solid uptred. Here’s the 60-min chart. <\/span>
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\nAs always it’s extremely important to know what time frame you’re trading, to know how long you plan on holding a position before you enter. It’s common for traders to know their exit (a physical price), but very few know how long they plan on being in a position. In my opinion, it’s just as important. Short term traders should not ride out weakness. Longer term traders can hold their best positions. Your price stop is important, but whether you plan on holding for 3 days or 4 weeks is just as important. <\/span>
\nJust so we don’t get overly bullish, let’s consider a bearish scenario…that bear wedges have formed on the indexes. It’s something to keep in mind. You have to be flexible. There are no guarantees, so while the trend has been super solid, ask yourself ‘what if.’ More after the open.<\/span>
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\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