{"id":389,"date":"2009-07-02T06:30:01","date_gmt":"2009-07-02T11:30:01","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=389"},"modified":"2009-07-02T06:30:01","modified_gmt":"2009-07-02T11:30:01","slug":"before-the-open-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=389","title":{"rendered":"Before the Open"},"content":{"rendered":"

Good morning. Happy Thursday.
\nEmployment numbers are out. Here they are\u2026
\nUnemployment rate in June is 9.5% (vs. 9.4% in May) \u2013 this is the highest since May 1983.
\nNonfarm payrolls down 467K (vs. down 370K expected)
\nHourly earnings unchanged (vs. up 0.2% last month).
\nFutures were down several points heading into the numbers. The market\u2019s reaction has been very negative.
\nI expect some movement the first hour or so before traders leave early and turn the 3-day weekend into a near 4-day weekend.
\nToday is a good day to play good defense\u2026dump laggards, and free up some cash. Given the range bound trading we\u2019ve had, there\u2019s no reason to be fully invested right now anyways.
\nHere\u2019s the SPX daily\u2026not very exciting. The market is pretty much unchanged the last two months. Rallies get sold, dips get bought. Select individual stocks are doing better, but there are fewer big winners. Research shows that more than 50% of a stock\u2019s movement is based on the overall market (an individual stock just does exactly what the market does), so without the market going anywhere, stocks don\u2019t have support or confirmation. If you\u2019re a bull, you\u2019ll feel great one day and be frustrated the next. Same with being a bear. The reality is the market is range bound, so you really shouldn\u2019t be too opinionated.
\n
\nHave a great weekend.
\nheadlines at Yahoo Finance<\/a>
\nstocks to watch from MarketWatch<\/a>
\ntoday’s upgrades\/downgrades<\/a>
\nyesterday’s leaders & laggards<\/a>
\nthis week’s earnings & economic releases<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Thursday. Employment numbers are out. Here they are\u2026 Unemployment rate in June is 9.5% (vs. 9.4% in May) \u2013 this is the highest since May 1983. Nonfarm payrolls down 467K (vs. down 370K expected) Hourly earnings unchanged (vs. up 0.2% last month). Futures were down several points heading into the numbers. The […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/389"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=389"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/389\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}