{"id":6296,"date":"2013-01-09T08:50:13","date_gmt":"2013-01-09T13:50:13","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6296"},"modified":"2013-01-09T08:50:13","modified_gmt":"2013-01-09T13:50:13","slug":"before-the-open-jan-9-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6296","title":{"rendered":"Before the Open (Jan 9)"},"content":{"rendered":"

Good morning. Happy Wednesday.<\/span>
\nThe Asian\/Pacific markets closed mixed. Hong Kong, Japan and Singapore moved up; India and Indonesia moved down. Europe is currently trading mixed with perhaps an upward bias. Norway, Switzerland, Italy, Spain and London are up; Stockholm and Greece are down. Futures here in the States point towards a slight positive open for the cash market.
\n<\/span>
\nThe dollar is up. Oil is flat, copper up. Gold and silver are up.<\/span>
\nAlcoa (AA) matched analysts’ earnings estimates and topped sales expectations. The stock is up 1.7% before the open.<\/span>
\nDish Networks (DISH) wants to buy Clearwire (CLWR) for $3.30\/share…Sprint Nextel (S) has already agreed to buy the shares it does not own for $2.97\/share.<\/span>
\nHelen of Troy (HELE) did well with earnings but lowered its full-year revenue guidance. The stock has not traded premarket yet.<\/span>
\nApollo Group (APOL) is down almost 10%…earnings related.<\/span>
\nConstellation Brands (STZ) is up almost 4%…earnings related.<\/span>
\nMGM Resorts (MGM) is up 2.3% premarket…it got approval to open a 2nd Macau casino.<\/span>
\nEver since the huge 2-day rally which closed 2012 and opened 2013 the market has traded slowly and in a relatively tight right. As far as I’m concerned, not only is this perfectly normal coming off such a big move, it’s been necessary because a few of our indicators hit extreme levels and needed to cycle back. <\/span>
\nOverall I still like the market, but in the near term I would not be surprised to see a little more weakness. This is my technical take on things. Earnings season will ramp up next week, so any given day could gap up or down based on what’s announced. <\/span>
\nThat’s it for now. There isn’t a whole lotta news out, and the technicals remain unchanged. 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