{"id":6353,"date":"2013-01-28T07:35:04","date_gmt":"2013-01-28T12:35:04","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6353"},"modified":"2013-01-28T07:35:04","modified_gmt":"2013-01-28T12:35:04","slug":"before-the-open-jan-28-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6353","title":{"rendered":"Before the Open (Jan 28)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a great weekend.<\/span>
\nI’m posting this much early than usual because today is the first day of school\/day care here in Costa Rica, and until we figure out the logistics of getting the kids ready to go and getting them to school, I’ll be getting up early to do this write up. School starts at 8:00 local time, and the market opens at 8:30, so I’ll easily be back home by the open. It’s what happens between 7:00 & 8:00 that’s a little tricky.
\n<\/span>
\nThe Asian\/Pacific markets closed mixed and with an upward bias. China rallied huge (2.4%); Hong Kong and Taiwan also did well. Japan dropped almost 1%. Europe is currently mixed. The Czech Republic is down 1.2% and Norway is down 0.5%. There are no big winners. Futures here in the States point towards a flat open for the cash market.<\/span>
\nThe dollar is up. Oil is flat, copper down. Gold and silver are down.<\/span>
\nThe trend on all time frames is up. The S&P is on an 8-day win streak. The small and mid caps are at all-time highs. When dividends are considered, the S&P is at an all-time high. The market wants to go up right now. Simple as that. GOOG and IBM did great with earnings – the market moved up a little. AAPL did not do well with earnings – the market moved up a little. News has largely been ignored; the technicals have been ignored. There’s a steady bid under the market, and until that changes, the market will move up.<\/span>
\nThe most bearish comment I can make right now – and this is very bearish – is that everyone is bullish. The bears have completely left the room – or at least they’re not making any noise – and the bulls are loud and proud and pounding the table 2013 is going to be a great year. So far this looks to be the case, but you gotta start to wonder when they need to be brought back to earth. If the bulls have already taken their positions, who’s left to push prices higher? Be careful chasing stocks higher. Take the good set ups only and manage them wisely. Don’t let a trade turn into a long term investment.<\/span>
\nJos. A. Bank (JOSB) is down almost 5%…earnings related.<\/span>
\nBiogen Idec (BIIB) is down fractionally after earnings.<\/span>
\nCaterpillar (CAT), Yahoo (YHOO), Seagate Tech (STX), VMware (VMW), BMC Software (BMC) and Zions Bancorp (ZION) also have earnings today.<\/span>
\nI’ll be back for 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