{"id":6411,"date":"2013-02-20T07:34:48","date_gmt":"2013-02-20T12:34:48","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6411"},"modified":"2013-02-20T07:34:48","modified_gmt":"2013-02-20T12:34:48","slug":"before-the-open-feb-20","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6411","title":{"rendered":"Before the Open (Feb 20)"},"content":{"rendered":"

Good morning. Happy Wednesday. <\/span>
\nThe Asian\/Pacific markets closed mostly up. New Zealand dropped, but China, Hong Kong, Indonesia, Japan, Taiwan and South Korea all posted solid up days. Europe is currently mostly up. Belgium, Stockholm, Switzerland and Greece are performing the best. Futures here in the States point towards a flat open for the cash market.
\n<\/span>
\nThe dollar is up. Oil is up, copper down. Gold and silver are down.<\/span>
\nThe indexes closed at new highs yesterday – an all-time high for the Russell small caps and multi-year highs for everything else. The bears keep getting spanked. They guess tops for various reasons, and they refuse to just go with the flow. Personally I’d rather jump in a move after it materializes and miss the first 10% than repeatedly guess when a top will be formed. But I’m not complaining. It’s the bears who go short and then cover or refuse to go long that are enabling this move to continue. <\/span>
\nNew highs have consistently printed at a high level this year. An interesting development is the potential surge in new lows. Here’s the NYSE 52-week new lows. It’s normal for there to be new lows at all times because there will always be garbage stocks that don’t deserve to be publicly traded companies, but if new lows actually start to trend up, you have to wonder what’s going on – the market trading at new highs at the same time new highs and new lows are moving up? Three times this year the curve has gotten rejected by 60. I’m not making any predictions about a breakout or what will happen if it breaks out. I’ll just simply say it’ll be an interesting development. The market has been ignoring most technical indicators, so we can’t assume it’ll suddenly start listening to this one.<\/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