{"id":6497,"date":"2013-03-25T07:34:24","date_gmt":"2013-03-25T12:34:24","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6497"},"modified":"2013-03-25T07:34:24","modified_gmt":"2013-03-25T12:34:24","slug":"before-the-open-mar-25-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6497","title":{"rendered":"Before the Open (Mar 25)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closes mostly up. Indonesia, Malaysia, Japan and South Korea each rallied more than 1%. Europe is currently up across-the-board. France, Germany and London are up more than 1%. Futures here in the States point towards a moderate gap up open for the cash market.
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\nThe dollar is flat. Oil is up, copper down. Gold and silver are down.<\/span>
\nFor the second straight week Monday morning’s trading will be in reaction to bailout news from Cyprus. Last week’s bailout was rejected. This one is much more kind to small depositors and much more harsh to large depositors. Deposits of less than 100,000 euros will be protected. Over 100,000 will be seized and subjected to a yet-to-be-determined tax. Essentially, instead of getting bailed out by the EU or Germany or any number of other sources, Cyprus will be bailed out by its depositors. This is beyond unbelievable. The precedent that is being set – that your money is not really your money, it can be taken at any time – is beyond comprehension. <\/span>
\nI said last week, and I’ll say it again, if I had money in a bank in Spain, I’d be withdrawing the money. I also said last week the difference between this bailout and the bailout of US banks during the financial crisis is the same difference between putting a frog in a pot of boiling water and putting it in room temperature water and turning up the heat very slowly. Those of us in the US are shocked the government can just step in and steal money from accounts, but if you add up all the money we’ve lost as a result of not earning any interest the last 4+ years, we might be getting screwed worse than the large depositors in Cyprus.<\/span>
\nMarkets all over the world have reacted positively to the news. Not a surprise. If 1) Cyprus gets bailed out and 2) you don’t have to pay the bill, you’re happy and life goes on. <\/span>
\nNews trumps the charts, so at least initially, the market will trade off the Cyprus news. 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>
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