{"id":8086,"date":"2010-11-03T09:31:20","date_gmt":"2010-11-03T13:31:20","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/morning-thoughts-20"},"modified":"2023-03-30T09:40:13","modified_gmt":"2023-03-30T13:40:13","slug":"morning-thoughts-20","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-20","title":{"rendered":"Morning thoughts for November 3, 2010"},"content":{"rendered":"<p>Good morning traders. SPYs trading up premarket near the rally highs. I am not getting excited about chasing the market at these prices as recent highs in the market have seen profit taking. I have also started to note that the rally is beginning to narrow, as individual stocks as a whole are starting to follow the movement in the indexes with less correlation. \u00a0Today we see FOMC at 2pm. Usually the market is very quiet in anticipation of this news. Today stock selection will be very important. Stay on your toes and look to trade &#8216;move to move&#8217;, having a bias on a day like today usually leads to a big headache.<\/p>\n<p>Follow me on twitter @JoeP_SMB<\/p>\n<p>SPY \u00a0LEVELS<\/p>\n<p>120<\/p>\n<p>119.40<\/p>\n<p>119.11<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning traders. SPYs trading up premarket near the rally highs. I am not getting excited about chasing the market at these prices as recent highs in the market have seen profit taking. I have also started to note that the rally is beginning to narrow, as individual stocks as a whole are starting to follow the movement in the &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-20\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":290,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1394],"tags":[],"class_list":["post-8086","post","type-post","status-publish","format-standard","hentry","category-joe-ps-blog","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morning thoughts for November 3, 2010 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-20\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning thoughts for November 3, 2010 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Good morning traders. SPYs trading up premarket near the rally highs. I am not getting excited about chasing the market at these prices as recent highs in the market have seen profit taking. I have also started to note that the rally is beginning to narrow, as individual stocks as a whole are starting to follow the movement in the ... 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