Before the Open (Jan 15)

Posted on by Jason Leavitt

Good morning. Happy Tuesday from San Pablo, Heredia, Costa Rica. 🙂
Yesterday was a travel day. Five people, 12 bags, 3 car seats, 2 flights, 2 security checks, immigration, customs and a cab driver who had no idea where to take us…and we and all our stuff have arrived safely. I have no idea what happened in the market yesterday because I was way too tired to bother looking when we arrived. I’ll get caught up today.
The Asian/Pacific markets closed mixed. Japan, China, India and Indonesia moved up; South Korea and Taiwan moved down. Europe is currently mostly down. Switzerland is posting a decent gain; Austria, France, Germany, Greece and the Czech Republic are down. Futures here in the States point towards a moderate gap down open for the cash market.

The dollar is up. Oil and copper are down. Gold and silver are up.
The fiscal cliff has been replaced by debt ceiling talks. Raising the ceiling would mean more of the same spending. Failure to raise it may result in the government shutting down and possible downgrades from the rating agencies.
Lennar (LEN) did well with earnings. The stock is up slightly before the open.
Lululemon (LULU) is down 7% premarket…yesterday they offered guidance that was below analyst expectations.
Facebook (FB) has a mysterious event planned for today at 1:00 est. Major announcement?
Gordmans Stores (GMAN) are down 12%.
Express (EXPR) is up 16%…they raised their Q4 outlook.
Dell (DELL) got a big boost yesterday when it said it was exploring the possibility of going private. It continues to climb in premarket today.
Forest Labs (FRX) posted a wider-than-expected loss…stock is down 5.5%.
Radisys (RSIS) says it expects to post a profit instead of a loss. The stock is up 9%.
My bias remains the same. I like the upside overall, but with the debt ceiling talks and earnings season heating up, I’m not all in. Also, we’ve gotten some warnings from some indicators lately – some are reversing, others are not – so the coast, from a technical standpoint, is not clear either. 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 (Jan 15)”

  1. You got my attention real fast this morning with the words Costa Rica. Since the election I have been considering leaving the states and have heard good things about Costa Rica. I would love to hear your opinion about the country when you get a chance.
    Thanking you in advance,
    Tom Frasier

    1. Will do Tom.
      We are not visiting, we moved. It’s not political or anything. We just thought it would be a fun adventure. My wife got a teaching position at an international school, my kids will be enrolled in school/day care here and I’ll be working at I usually do. We plan on being here a couple years, but who knows. If we like it a lot, maybe we’ll stay longer.

  2. Mary Mother of God man! Get long Costa Rica living and get flat US markets! who cares!!! enjoy a wonderful part of the world and forget this boring circus. The algos may let it be here when you return…

  3. ENJOY–Jason
    the big boy bank algos may be gone shortly –even by this fri
    world central banks,which are owned by the bigboy bank instos have been printing money –stimulus –they call it to weaken their currencies
    this money goes diectly to the big bank instos–morgans goldmans -deutcher and european banks to gamble with on front running orders on their algo rythems black box machines that are tied to the euro as a measure of risk,with the carry trade financed in europe
    the problem is the banks are going broke —gambling
    and pollies had to change basil 3 and allow the banks more use of their reserves to gamble
    the only hope for the banks that gamble with opts is to go short and crash the markets
    this wont be till after fri when most have reported and opts ex
    of corse as the banks are all already bankrupt they havent been participating in this move up
    it has been led by world central banks /fed ecb,japan,china–plunge protection teams
    they are now also bankrupt and cant supply more liquidity and will get caught –long also as liquidity drys up
    audit the fed and get the algos out of australia ,which used to be a decent and ethical place

  6. Tim,
    support sp500 cash is 1463 –closed short– reentered short 1472
    im not a long term trader and all my long/med term forcasts are wrong
    as even the market cant make up its mind
    i only trade short term and intraday –and a 2 hour trade for me is long
    also a counter trend trader
    there are strict trading plans for each of those
    the usa market showing divergents long strongest dji short ndx
    watch ibm earnings to short the fed
    the markets can change in the blink of a fed eye

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