{"id":7181,"date":"2013-11-25T08:38:23","date_gmt":"2013-11-25T13:38:23","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=7181"},"modified":"2013-11-25T08:38:23","modified_gmt":"2013-11-25T13:38:23","slug":"before-the-open-nov-25-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=7181","title":{"rendered":"Before the Open (Nov 25)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a nice weekend.<\/span>
\n The Asian\/Pacific markets closed mostly up. India rallied almost 2%, Japan 1.5% and Taiwan 0.9%. Europe is currently up across-the-board. Greece is up 2.6%. Austria, Belgium, Germany and Switzerland are also doing well. Futures here in the States point towards a moderate gap up open for the cash market.
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\n The dollar is up. Oil and copper are down. Gold and silver are down. <\/span>
\n The beat continues on. The S&P has now moved up 7 consecutive weeks. <\/span>
\n Several indexes are sitting at all-time highs. The Nas, Nas 100 and S&P 400 mid caps haven’t quite gotten there yet.<\/span>
\n Many stocks that led the market over the summer and fall months (TSLA, LNKD, YELP, FB, Z) are well off their highs while safe-havens such as PG, CL, PFE and several other drug stocks are leading. Is this a warning?<\/span>
\n It could be, but uptrends can persist for a long time; over-bought can stay over-bought for a long time. Here’s the S&P daily. I see no reason to be anything but long. The trend, the Fed, seasonality forces, under-performing money managers – you name it, there’s a long list a reasons the current move can continue.<\/span>
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\n There’ll be bumps along the way, but resist the temptation to over-analyze and think too much. The tren is up. Go with it. Period.<\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n FBR Capital reiterated its ‘Outpeform’ rating on Flour (FLR +0.81%) and raised its price target on the stock to $97 from $90.<\/span>
\n Time Warner Cable (TWC +9.98%) was downgraded to ‘Hold’ from ‘Buy’ at Argus.<\/span>
\n Piper Jaffray kept its ‘Overweight’ rating on DaVita (DVA -0.62%) and raised its price target on the stock to $73 from $63.<\/span>
\n Brocade (BRCD +0.45%) was downgraded to ‘Neutral’ from ‘Buy’ at ISI Group.<\/span>
\n Caterpillar (CAT +0.93%) was upgraded to ‘Buy’ from ‘Neutral’ at BofA\/Merrill.<\/span>
\n R.R. Donnelley (RRD +0.12%) was upgraded to ‘Buy’ from ‘Hold’ at Benchmark Co.<\/span>
\n Campbell Soup (CPB +1.23%) was downgraded to ‘Neutral’ from ‘Buy’ at Goldman.<\/span>
\n Clorox (CLX -0.22%) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman.<\/span>
\n Alcoa (AA +1.32%) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman.<\/span>
\n Allegion (ALLE) will replace J.C. Penney (JCP -3.27%) in the S&P 500 Index as of the 11\/29 close.<\/span>
\n Bloomberg reports that the FDA approved the Influenza A Virus Monovalent Vaccine made by a unit of GlaxoSmithKline (GSK +0.26%) for the prevention of H5N1 influenza, commonly known as avian or bird flu.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n 10:00 Pending Home Sales
\n 10:30 Dallas Fed Manufacturing Outlook
\n 1:00 PM Results of $32B, 2-Year Note Auction<\/span><\/span><\/span><\/span>
\n Notable earnings before today’s open: NM, QIHU, SDRL<\/span>
\n Notable earnings after today’s close: CPRT, HI, NUAN, PANW, PWRD, VNET, WDAY<\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
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