{"id":6135,"date":"2012-11-12T08:44:25","date_gmt":"2012-11-12T13:44:25","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6135"},"modified":"2012-11-12T08:44:25","modified_gmt":"2012-11-12T13:44:25","slug":"before-the-open-nov-12-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6135","title":{"rendered":"Before the Open (Nov 12)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\nThe Asian\/Pacific markets closed mostly down, but only Japan (down 0.9%) moved much from its unchanged level. Europe is currently mostly up, but there are no big movers. Futures here in the States point towards a moderate gap up open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil is down slightly; copper is up. Gold is up; silver is down. <\/span>
\nJapan’s Q3 GDP indicates a 3.5% contraction – the fastest pace of contraction since the 2011 earthquake and tsunami.<\/span>
\nLoans issued buy Chinese banks fell 14% in October, but the country reported accelerated export growth and its biggest trade surplus in almost four years. <\/span>
\nSpain’s Banking Association says it will halt evictions of indebted home owners for two years. <\/span>
\nHere in the States, banks and the bond market are closed for Veteran’s Day; the stock market will be open as usual.<\/span>
\nAnnaly (NLY) has offered to buy the shares of CreXus (CXS) it doesn’t already own.<\/span>
\nD.R. Horton (DHI) is up about 3% after releasing earnings. <\/span>
\nBeazer (BZH) is also out with earnings. Revenue increased, but they posted a wider-than-expect loss. The stock has not traded premarket.<\/span>
\nLeucadia (LUK) is buying Jefferies (JEF).<\/span>
\nTarget (TGT) and Toys ‘R’ Us are joining Walmart (WMT) in opening on Thanksgiving night instead of waiting until midnight or the following day.<\/span>
\nCelgene’s (CELG) price target has been raised. The stock is up 8.5%.<\/span>
\nThe trend has been down for about two months; last week it accelerated. The market can turn here, but I’d rather see more weakness that forces the breadth indicators to hit extreme levels. Then a bounce can last long and go further. A bounce right now is likely to get sold into unless it comes with extremely good news. <\/span>
\nSo my bias remains to the downside. 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