{"id":5852,"date":"2012-08-02T07:34:08","date_gmt":"2012-08-02T12:34:08","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5852"},"modified":"2012-08-02T07:34:08","modified_gmt":"2012-08-02T12:34:08","slug":"before-the-open-aug-2-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5852","title":{"rendered":"Before the Open (Aug 2)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed mixed. China, Hong Kong, South Korea and Singapore moved down; New Zealand moved up, but nothing moved more than 1%. Europe is currenly mostly up. Switzerland and Greece are up about 1%. Futures here in the States point towards a positive open for the cash market.
\n<\/span>
\nThe dollar is down. Oil is up, copper is down. Gold and silver are up.<\/span>
\nThe European Central Bank left its target rate unchanged at 0.75%.<\/span>
\nThe Bank of England held its benchmark rate unchanged at 0.50%. <\/span>
\nThe Fed did their thing yesterday, and now that Europe has made similar accouncements, focus shifts to tomorrow’s employment numbers. <\/span>
\nMany of the divergences I’ve discussed remain in place. On Monday the S&P made a higher high while the Russell small caps and S&P mid caps failed to match the movement. Yesterday most of the indexes dropped a small amount; the Russell dropped a bunch, thus making it much harder to negate the divergence. Here’s a chart comparing the three indexes. <\/span>
\n\"\"
\nWhy do I keep talking about this? Well, mostly because it’s important, and I’m not one that needs a laundry list of reasons to form a bias. Having a list of 10 criteria and then saying: “7 of 10 are bearish, so therefore I’m bearish” is a terrible way to form an opinion. Often there is only one or two criteria that needs to be keyed on, and the rest are just noise or distractions.<\/span>
\nDon’t make trading harder than it is. Most of a stock’s movement is based on the overall market and group it belongs to. Trade in the direction of the trend (there is no dominant trend right now); identify the best groups (groups run hot and cold as money rotates from one to the next); play the best stocks in those groups. And if it’s not obvious, take a pass. Better trades will set up. 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><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Thursday. The Asian\/Pacific markets closed mixed. China, Hong Kong, South Korea and Singapore moved down; New Zealand moved up, but nothing moved more than 1%. Europe is currenly mostly up. Switzerland and Greece are up about 1%. Futures here in the States point towards a positive 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\/5852"}],"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=5852"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5852\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}