{"id":6355,"date":"2013-01-29T07:41:56","date_gmt":"2013-01-29T12:41:56","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6355"},"modified":"2013-01-29T07:41:56","modified_gmt":"2013-01-29T12:41:56","slug":"before-the-open-jan-29-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6355","title":{"rendered":"Before the Open (Jan 29)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed mixed and with an upward bias. Australia, China, Indonesia, Japan, South Korea and Taiwan rallied while India and Singapore dropped. Europe is currently mostly down. Switzerland, Italy, Spain and Greece are posting the biggest losses. Futures here in the States point towards a moderate gap down open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil and copper are up small amounts. Gold and silver are up.<\/span>
\nAs I said yesterday and over the weekend, I like the market, but it’s too late to chase stocks up. Stocks are either too far gone because they broke out last week and have already rallied a bunch or they’re sitting in patterns, but buying a breakout would constitute buying late in a move. This is risky. At this stage of the game, it’s best to let the market come down or at the very least rest and move sideways for a week or two. 2013 is setting up to be a good year, but even during good years you need to pick your spots wisely. If you enter late, trades turn into investments as you wait months just to get back to even. Have patience.<\/span>
\nFord (F) did great with earnings…stock is up 2.3% before the open.<\/span>
\nYahoo (YHOO) beat expectations…stock is up 3.1%.<\/span>
\nDR Horton (DRI) is up 1.2% after releasing earnings.<\/span>
\nHarley Davidson (HOG) posted lower revenue and profit…stock is down 2.3%.<\/span>
\nEli Lilly’s (LLY) profits dropped but they upped their guidance for the year….stock is up 1.6%.<\/span>
\nPfizer (PFE) is down fractionally after earnings.<\/span>
\nTyco (TYC) posted lower net profit compared to the year-ago period…the stock has not traded premarket.<\/span>
\nCorning (GLW) is up 2.8%…earning related.<\/span>
\nInternational Paper (IP) is down almost 1% after releasing earnings.<\/span>
\nDanaher (DHR) posted a good quarter but lowered estimates 2013 estimates. <\/span>
\nLexmark (LXK) and Illinois Tool Works (ITW) also have earnings this morning. Amazon (AMZN) announces after the close.<\/span>
\nThe market has been on an amazing run this month. We’ve had lots of great breakouts. Let things settle down in the near term. I would not advise aggressively chasing stocks higher. 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>
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