Before the Open (Aug 6)

Good morning. Happy Thursday.
The Asian/Pacific markets closed mostly down. China, Australia, Indonesia, Malaysia and Taiwan dropped more than 0.9%. Europe currently leans to the downside. Poland is down more than 2%; Norway, Russia, Denmark, Hungary and Portugal are down more than 1%. Greece is up about 3%, and Turkey is doing well. Futures here in the States point towards an up open for the cash market.
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The dollar is up slightly. Oil and copper are down. Gold and silver are down. Bonds are up.
The market gapped up yesterday and built on the gains the first hour of trading, but the gains couldn’t be held. Most of the indexes closed up, but well off their highs, and the AD line closed down.
Oil gave back its previous day’s gains and fell to its lowest level since mid March, only a couple bucks off the low.
TSLA is down 8% premarket. GMCR is down 30%.
We get the latest employment figures tomorrow morning.
My opinion of the market and how I’m handling it remain the same. Overall my bias leans to the downside. Until we get improvement from the internals, rallies will get sold into, so I’m in “sell rallies” mode. I’ll go long stocks that are doing well and from the right groups, but my anticipated holding times are short. Shorter term anything goes. We’ve gotten gaps in both directions, intraday trending moves in both directions, lots of intraday reversals. It hasn’t mattered. Day-to-day the market has done a little of everything.
You don’t need to be overly active. One or two good trades each week is all you need. There are times to “press on the accelerator” and times to be a little more conservative. Right now keep things close to your vest. More after the open.
Stock headlines from barchart.com…
Teradata (TDC +0.78%) reported Q2 EPS of 43 cents, well below consensus of 56 cents.
Albemarle (ALB -0.69%) reported Q2 EPS of 84 cents, higher than consensus of 82 cents.
Transocean (RIG +0.98%) climbed over 7% in pre-market trading after it reported Q2 EPS $1.11, more than double consensus of 50 cents and reported Q2 revenue of $1.88 billion, better than consensus of $1.70 billion.
American Water (AWK +0.72%) reported Q2 EPS of 68 cents, better than consensus of 67 cents.
Tesoro (TSO +1.34%) reported Q2 adjusted EPS of $4.62, well above consensus of $4.02.
Dun & Bradstreet (DNB +0.66%) reported Q2 EPS of $1.25, less than consensus of $1.31.
Tesla (TSLA +1.45%) reported a Q2 EPS loss of -48 cents, a narrower loss than consensus of -60 cents.
Andersons (ANDE +0.61%) reported Q2 EPS of $1.09, above consensus of 99 cents, although Q2 revenue of $1.21 billion was below consensus of $1.26 billion.
Masonite (DOOR -1.46%) reported Q2 EPS of 42 cents, below consensus of 50 cents.
Prudential (PRU +0.02%) reported Q2 adjusted EPS of $2.91, above consensus of $2.47.
Herbalife (HLF -2.39%) jumped 8% in after-hours trading after it reported Q2 EPS of $1.24, higher than consensus of $1.11.
Fitbit reported Q2 EPS of 21 cents, more than double consensus of 8 cents.
21st Century Fox (FOXA -7.02%) reported Q4 adjusted EPS of 39 cents, above consensus of 37 cents.
CBS (CBS -4.62%) reported Q2 adjusted EPS of 74 cents, higher than consensus of 72 cents.
Keurig Green Mountain (GMCR -2.10%) plunged 30% in after-hours trading after it reported Q3 adjusted EPS of 80 cents, better than consensus of 79 cents, but then lowered guidance on Q4 adjusted EPS to 70 cents-75 cents, well below consensus of 97 cents.
Earnings and Economic Numbers from seekingalpha.com…
Today’s Economic Calendar
Chain Store Sales
7:30 Challenger Job-Cut Report
8:30 Initial Jobless Claims
8:30 Gallup US Payroll to Population
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
4:30 Money Supply
4:30 Fed Balance Sheet
Notable earnings before today’s open: AAON, ACTA, AGIO, AGN, AGO, AINV, AMCX, APA, AXAS, AYR, BBEP, BBW, BCE, BDBD, BDX, BECN, CC, CCC, CCOI, CECE, CNK, CNQ, CNSL, CRIS, CRZO, CTB, DDD, DUK, DX, EAT, EBS, EMES, ENOC, ENR, EXK, EXTR, FSV, FSYS, GCAP, GLOG, GLP, GNRC, GOGO, GTXI, GWPH, HCLP, HGG, HII, HILL, HL, HSNI, INFI, INSY, IRC, KOP, KORS, LAMR, LEAF, LPI, LQDT, MBLY, MEG, MFC, MITL, MMP, MMS, MPEL, MYL, NGS, NRF, NRP, NRZ, NVO, NXST, NXTM, NYT, OA, OGE, ONE, OTIV, OWW, PBH, PGNX, PLUG, PRIM, RDEN, RGEN, RICE, RSTI, RVLT, RWLK, SATS, SBH, SEAS, SFY, SGM, SNH, SPH, SRPT, SSTK, STN, SUNE, TA, TAP, TDC, TECH, TESO, THS, TK, TLP, TNK, VER, VIAB, WIN, WPP, YORW, ZEUS
Notable earnings after today’s close: ABTL, ACAD, AHT, AIRM, AL, ALEX, ALNY, AMBR, AMRN, AMRS, ANAC, ANAD, ANET, ASEI, ASYS, ATHX, BBG, BEAT, BIO, BITA, BOJA, BRKS, BRS, CECO, CENX, CERS, CLVS, CPST, CSOD, CUB, CUBE, CVT, CYTX, DIOD, DMD, DRYS, EAC, ED, EFC, EGN, EGOV, EGY, ELON, EOG, ERII, ESPR, EVC, FLDM, FLTX, FPRX, FXCM, FXEN, GALE, GEOS, GNMK, GSBD, GXP, HNSN, HTGC, HUBS, IMI, IMPV, INWK, IRG, JMBA, KTOS, LGF, MAIN, MDVN, MHK, MNST, NDLS, NEWR, NFG, NPTN, NUAN, NUS, NVDA, OLED, ONTY, ORIG, OSTK, OUT, PACD, PETX, PLNR, PODD, POST, PRO, RBA, RBCN, RIGP, RJET, RMAX, RPTP, RRMS, SAAS, SEM, SEMG, SFM, SHO, SKUL, SPPI, SRC, SREV, SSRI, STMP, SWIR, TCRD, TCX, TEAR, TNGO, TPC, TRMR, TRUE, OTCQB:TRXC, TSRO, TWOU, UBNT, VRNS, VSAT, WAIR, WIFI, WING, XOMA, XOXO, ZNGA
Other…



today’s upgrades/downgrades from briefing.com
this week’s Earnings
this week’s Economic Numbers