{"id":6169,"date":"2012-11-27T08:27:34","date_gmt":"2012-11-27T13:27:34","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6169"},"modified":"2012-11-27T08:27:34","modified_gmt":"2012-11-27T13:27:34","slug":"before-the-open-nov-27","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6169","title":{"rendered":"Before the Open (Nov 27)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. China, Indonesia and Malaysia dropped; India, Australia and South Korea rallied. Europe is currently mostly up. Austria and the Czech Republic are up more than 1%; Belgium, Germany, Amsterdam and London are also doing well. Greece is down. Futures here in the States point towards a flat open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil and copper are up. Gold and silver are down.<\/span>
\nYesterday was a “coffee day.” Very little happened. Early weakness got bought, and the indexes closed mixed but little moved from their unchanged levels. The Nas and small caps led. A day off after a huge up week is no big deal. My bias remains to the upside, but I still don’t think the risk\/reward for initiating new longs is as good as it was a week ago. I’m hoping the market rests for a few more days to allow the charts to re-set.<\/span>
\nFinance ministers from the EU along with reps from the IMF reached an agreement that will enable Greece to receive $40.8B immediately and three additional payments in 2013.<\/span>
\nConAgra (CAG) is acquiring Ralcorp (RAH) for $90 per share.<\/span>
\nBrown-Forman (BF.A, BF.B), Las Vegas Sands (LVS), Dillard’s (DDS), SL Industries (SLI) have all declared special dividends.<\/span>
\nDollar General (DG) is being added to the S&P 500.<\/span>
\nIn my opinion the market has some proving to do. The first move off a low is the easy move. But after the initial surge, the price and volume action must remain constructive to prove the rally is not just a dead-cat bounce within a downtrend but instead the beginning of a move up. This is what I’m looking for right now. 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