{"id":5972,"date":"2012-09-14T07:37:13","date_gmt":"2012-09-14T12:37:13","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5972"},"modified":"2012-09-14T07:37:13","modified_gmt":"2012-09-14T12:37:13","slug":"before-the-open-sep-14-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5972","title":{"rendered":"Before the Open (Sep 14)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\nThe Asian\/Pacific markets closed up across the board. Hong Kong, India, Indonesia, South Korea and Taiwan rallied more than 2%; Australia, Japan and Singapore more than 1%. Europe is currently up across the board. Austria is up more than 3%; France, Norway, Stockholm, the Czech Republic and Greece more than 2%; Belgium, Germany, Amsterdam and London more than 1%. Futures here in the States point towards a moderate gap up for the cash market.
\n<\/span>
\nThe dollar is down. Oil and copper are up. Gold is up, silver is down.<\/span>
\nThe Fed annouced QE3 yesterday, and the market surged. All the indexes are now at new highs, and the Russell 2000 isn’t far from its all-time high. That’s the bottom line. If you hate Bernanke and you view the stimulus as not being necessary and the additional debt we are incurring as being troublesome, that’s fine. Don’t let your attitude prevent you from making money. That’s pure stupidity. The fact is the trend has been up since early June, and although it hasn’t always been a smooth ride, there have been very few short set ups to be had and many good long set ups. <\/span>
\nWhen the trend is up, you should be long or neutral. When the trend is down, you should be short or neutral. Trade what is, now what should be. <\/span>
\nThe market has a history giving back its post-Fed gains on the following day, so be on the look out for some profit taking…although this tendency has been weaker ever since the FOMC started issuing their announcement at 12:30 est instead of 2:15.<\/span>
\nThe FOMC was the last of the major market moving news items we’ve been tracking. Europe is going to get bailed out. The Fed is going to continue flooding the system with money. Again, even if you disagree with steps taken, don’t let it prevent you from making money. 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