{"id":6465,"date":"2013-03-13T07:39:36","date_gmt":"2013-03-13T12:39:36","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6465"},"modified":"2013-03-13T07:39:36","modified_gmt":"2013-03-13T12:39:36","slug":"before-the-open-mar-13-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6465","title":{"rendered":"Before the Open (Mar 13)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mostly down. China, Hong Kong, India and New Zealand posted the biggest losses. Europe is currently mostly down. Austria, Stockholm and London are down 1%; Greece is up 1.5%. Futures here in the States point towards a down open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil is flat, copper down. Gold is up, silver down.<\/span>
\nAfter seven straight up days, the market dropped yesterday, but losses were small. You still have to manage your positions wisely and know what time frames you’re trading. If you’re a longer term trader, a 50-point SPX drop should not bother you. If your goal is to play 2-4 week swings, then you may want to tighten stops and not give profits back should the market correct here. Stocks that were bought a couple weeks ago probably have decent gains. Stocks bought in the last couple days probably don’t. In all cases you must decide ahead of time how much wiggle room you’re going to give positions. You don’t want to panic and jump ship at the first down day; you also don’t want to give back your hard earned profits either. And if you’re a very short term trader, you’re in and out enough that it’s pretty easy to take profits and move on to your next set up. Have a plan. “Waiting to see what will happen” is not a plan.<\/span>
\nHere’s an update of the SPX chart I posted yesterday. The index tagged the line again and then dropped back. In the grand scheme of things, a drop to 1525 would be very minor.<\/span>
\n\"\"
\nHave a plan. 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