A quick note before the open on this week's so-far-not-discouraging trade care of Leavitt Brothers:
It’s a big day for the market. It must prove the mini rally we’re in has legs or else it could fail fast. Monday’s gap can fill, but weakness beyond that tells us the Nov 24 gap up which remains unfilled is likely to fill too.
The cash market will get off on a positive note but not an ideal one. The last thing we want is a gap up. It’d be better to open flat, sell off to fill Monday’s gap, and then rally. A gap up is exactly what we don’t want.
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of 10:14AM December 10, 2008