{"id":5855,"date":"2012-08-03T07:46:48","date_gmt":"2012-08-03T12:46:48","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5855"},"modified":"2012-08-03T07:46:48","modified_gmt":"2012-08-03T12:46:48","slug":"before-the-open-aug-3-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5855","title":{"rendered":"Before the Open (Aug 3)"},"content":{"rendered":"<p><span style=\"font-size: medium;\">Good morning. Happy Friday. Happy Employment Numbers Day.<\/span><br \/>\n<span style=\"font-size: medium;\">The Asian\/Pacific markets closed mixed. Australia, Japan and South Korea dropped 1.1%; China moved up 1%. Europe is up across the board. Austria, France and Germany are up 2% or more, and Amsterdam, Norway, Stockholm and London are up 1% or more. Futures here in the States point towards a big gap up open for the cash market. These numbers are pre-employment.<!--more--><br \/>\n<\/span><br \/>\n<span style=\"font-size: medium;\">The dollar is down. Oil and copper are up. Gold and silver are up.<\/span><br \/>\n<span style=\"font-size: medium;\">Here are the numbers&#8230;<\/span><br \/>\n<span style=\"font-size: medium;\">unemployment rate: 8.3% (it was 8.2% last month)<br \/>\n<span style=\"font-size: medium;\">nonfarm payrolls: up 163K<br \/>\n<span style=\"font-size: medium;\">private payrolls: (will post when I get the number)<br \/>\n<span style=\"font-size: medium;\">average workweek: 34.5 hours (same as last month)<br \/>\n<span style=\"font-size: medium;\">hourly earnings: $23.52 (up 2 cents)<\/span><\/span><\/span><\/span><\/span><br \/>\n<span style=\"font-size: medium;\">On the news, the futures added to their premarket gains. The S&amp;P is set to recapture its losses from the previous two days and is only 5 points below last Friday&#8217;s close. Fun stuff. Last week the market sucked for three days and then exploded. This week the market has sucked all week and is now set to explode again. This is all good for day trading because we&#8217;re getting plenty of intraday movement, but it&#8217;s not good for swing trading&#8230;way too many sudden reversals!<\/span><br \/>\n<span style=\"font-size: medium;\">The S&amp;P has been down 8 of the last 10 days and 15 of the last 22 yet at today&#8217;s open it&#8217;ll be up relative to two and four weeks ago. Preserve captial. This is not a time to be aggressive. There is no clear trend, and news from Europe, which has the ability to push the market quickly in one direction or the other, is not consistent. More after the open.<\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/biz.yahoo.com\/apf\/archive.html\">Yahoo Finance<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">headlines at <a href=\"http:\/\/www.marketwatch.com\/story\/newsviewer\">MarketWatch<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">today&#8217;s <a href=\"http:\/\/www.briefing.com\/investor\/calendars\/upgrades-downgrades\/\">upgrades\/downgrades<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5838\">Earnings<\/a><\/span><br \/>\n<span style=\"font-size: medium;\">this week&#8217;s <a href=\"http:\/\/leavittbrothers.com\/blog\/?p=5840\">Economic Numbers<\/a><\/span><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n  var gaJsHost = ((\"https:\" == document.location.protocol) ? \"https:\/\/ssl.\" : \"http:\/\/www.\"); document.write(unescape(\"%3Cscript src='\" + gaJsHost + \"google-analytics.com\/ga.js' type='text\/javascript'%3E%3C\/script%3E\"));\n\/\/ ]]><\/script><br \/>\n<script type=\"text\/javascript\">\/\/ <![CDATA[\n  var pageTracker = _gat._getTracker(\"UA-6273151-1\"); pageTracker._initData(); pageTracker._trackPageview();\n\/\/ ]]><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning. Happy Friday. Happy Employment Numbers Day. The Asian\/Pacific markets closed mixed. Australia, Japan and South Korea dropped 1.1%; China moved up 1%. Europe is up across the board. Austria, France and Germany are up 2% or more, and Amsterdam, Norway, Stockholm and London are up 1% or more. Futures here in the States [&hellip;]<\/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\/5855"}],"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=5855"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/5855\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}