{"id":5994,"date":"2012-09-20T07:41:06","date_gmt":"2012-09-20T12:41:06","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=5994"},"modified":"2012-09-20T07:41:06","modified_gmt":"2012-09-20T12:41:06","slug":"before-the-open-sep-20-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=5994","title":{"rendered":"Before the Open (Sep 20)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\nThe Asian\/Pacific markets closed down across the board. China dropped 2.1%, and Hong Kong, Malaysia and Japan dropped more than 1%. Europe is currently mostly down, but only Austria (down 1.5%) is down more than 1%. Greece is up 2.7%. Futures here in the States point towards a gap down open for the cash market.
\n<\/span>
\nThe dollar is up. Oil and copper are down. Gold and silver are down.<\/span>
\nADBE missed on earnings yesterday, but the stock is up in premarket trading today.<\/span>
\nNKE announced an $8B share buyback program.<\/span>
\nBAC is speeding up workforce cuts so the cuts can be completed by the end of the year.<\/span>
\nNSC warned its Q3 numbers will be below its 2011 Q3 numbers. The stock is down 6% before the open.<\/span>
\nAIR reported earnings and raised its full-year profit target. The stock is up 7%.<\/span>
\nAPOG reported earnings and increased its profit outlook for fiscal 2013. The stock is up 20% on the news.<\/span>
\nMLHR miss on earnings.<\/span>
\nCLC reported earnings and then reduced its full-year forecast. <\/span>
\nNOC is increasing its share buyback to $2B.<\/span>
\nCQP is selling 8 million common shares up for sale in a secondary offering. The stock is down almost 6%.<\/span>
\nWe entered this week with the risk\/reward for new trades not being very good. Most good set ups had already broken out (many rallied to hit their targets), and the ones left had lower odds of “working” because the overall market wasn’t going to support the moves. Managing what we had rather than aggressively entering new trades was wise. Here’s the 3-day, 5-min chart. The index has traded in a 10-point range. That’s not bad. Since we were looking for a pause or mini correction, getting slow movement is exactly what we wanted. Today’s open will be near the botton of the range. <\/span>
\n\"\"
\nDon’t push it. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n