Good morning. Happy Tuesday.
The Asian/Pacific markets closed mixed; there were no big movers. Europe is currently mostly down; Belgium is down 1.1%, Austria and Greece down about 0.7%. Futures here in the States point towards a slight positive open for the cash market.
The dollar is down slightly. Oil and copper are up. Gold and silver are up.
There isn’t much news out…and nothing is important enough to move the market.
TSLA cut 2012 estimates and is selling 4.34 million shares of common stock. The stock is down 15% in premarket trading.
Sidewinder Drilling is buying Union Drilling (UDRL)
CHRW is buying privately held Phoenix International, a freight handling company.
CAT lowered its 2015 (that’s not a typo) earnings forecast from $15-$20 to $12-$18.
KORS is selling 23 million shares of stock held by current stockholders. This is what happens when a company does well after going public. It groups its employees’ stock together and sells it as a bundle…something Facebook can’t do.
SPLS is closing 30 stores.
Tomorrow is Yom Kippur…the market is likely to be slow.
I maintain my defensive posture. A combination of some overbought indicators, some lagging groups (transports, semis) and a lack of good set ups has me in wait-and-see mode. I’m not exactly at the edge of my seat eager to aggressively enter new positions. More after the open.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers
0 thoughts on “Before the Open (Sep 25)”
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By the end of the week the S&P will commence its move to test 1544 based on its fib retrace which was .382 and now supports a move higher. Why? It is QE3, won’t last long since the seasonal charts suggest we should start down into Oct. The gold cycle 155 TD has topped and is now down into
Nov 20 low. Are things a mess or what?
sp 1444 tested–just closed magnificent shorts on the world indexes
no idea were next –key revesal days–insto selling –may even be more down today
will only trust live indicators–so many traps and confussions in charts
could now even go to 1544 –i dont know
for those that follow the live tick indicator
—–did anyone see the negative minus 1500 tick extreme
at just after 3pm ny time today
usually a sign the insto heavy selling is over–at least for a hour
was this stop running by the instos before a run up
or start of a down insto election campaign by rumony
–the moron wall street geko mouth peice
mormon
All i see on my Tick , are several -1135″s – Thanks all for the input