{"id":6373,"date":"2013-02-05T07:40:07","date_gmt":"2013-02-05T12:40:07","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6373"},"modified":"2013-02-05T07:40:07","modified_gmt":"2013-02-05T12:40:07","slug":"before-the-open-feb-5-2","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6373","title":{"rendered":"Before the Open (Feb 5)"},"content":{"rendered":"

Good morning. Happy Tuesday.<\/span>
\nThe Asian\/Pacific markets closed down across the board (except for China). Hong Kong, Japan, New Zealand, Singapore, and South Korea suffered the biggest losses. Europe is currently mixed. France, Greece, Switzerland, Spain, Italy and London are up; Norway, Stockholm and the Czech Republic are down. Futures here in the States point towards at relatively big gap up open for the cash market.
\n<\/span>
\nThe dollar is down slightly. Oil and copper are up. Gold and silver are up.<\/span>
\nEarnings out this morning include: Disney (DIS), NYSE Euronext (NYX), Chipotle (CMG), CME (CME), Kellogg (K), Expdeia (EXPE), Genworth Financial (GNW), Aflac (AFL), Take-Two (TTWO) and Estee Lauder (EL).<\/span>
\nYesterday the market easily posted its biggest loss of the year and one of its biggest losses of the last couple months. Volume wasn’t extremely heavy, but the selling pressure was steady and consistent all day long. We got a big up day last Friday and then a big down day Monday, and we’re now pretty close to being unchanged over the last week. My stance remains the same. I know it’s kind of boring for me to maintain the same stance day after day, but the market doesn’t change that fast. Long term I still like the upside; the long term indicators remain solid and continue to suggest further upside. But in the near term I’m cautious. Several sensitive short term indicators hint at a needed pullback, and many individual stocks have not gotten the follow through typically seen in an extremely healthy market. The near term is questionable. There’s nothing wrong with pulling back the reins and trading less and being more conservative. At the beginning of an up cycle trading is easy. You can blindly buy almost anything and make money, and you can certainly give better stocks time and space to play out. But as the move matures, your management style must change because instead of shooting for doubles, triples and homeruns, you shoot for singles. In my opinion, this is where we are right now. Be content with little gains, and let the market chop around and figure out what it wants to do next. 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