{"id":5984,"date":"2012-09-18T07:27:01","date_gmt":"2012-09-18T12:27:01","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5984"},"modified":"2012-09-18T07:27:01","modified_gmt":"2012-09-18T12:27:01","slug":"before-the-open-sep-18-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5984","title":{"rendered":"Before the Open (Sep 18)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. China and Indonesia led the way with 0.9% and 0.7% drops. Europe is currently down across the board. Austria and Belgium are down more than 1%. Futures here in the States point towards a down open for the cash market.
\n<\/span>
\nThe dollar is up slightly. Oil and copper are down. Gold and silver are down.<\/span>
\nFedEX (FDX) is out with earnings. They again said the global economy is worsening, and it’s cutting its forecast for the current fiscal year. The stock is down almost 2% in premarket trading.<\/span>
\nANR is cutting 1200 out of 13,100 jobs.<\/span>
\nKSS says it will boost hiring this holiday season.<\/span>
\nSince nothing happened yesterday, there isn’t much to talk about. The trend is up, but most good stocks have already broken out and rallied. There aren’t many left to play, and the risk\/rewards aren’t very good either. The big issue with initiating new longs right now it timing. When you play breakouts at the beginning of an uptrend, making money is relatively easy because at the beginning of a move, a rising tide raises most ships. But those same set ups played at a later date after an extended move won’t have the same “group support.” This is the current situation. We don’t have many new set ups to play, and given the extent of the rally and all good news out lately (lack of an upside catalyst), it’s best to play good defense now.<\/span>
\nHere are the dailies. They look great, but in the near term I’m on the lookout for a blow-off top.<\/span>
\n\"\"
\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