{"id":7196,"date":"2013-11-29T08:22:22","date_gmt":"2013-11-29T13:22:22","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=7196"},"modified":"2013-11-29T08:22:22","modified_gmt":"2013-11-29T13:22:22","slug":"before-the-open-nov-29-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=7196","title":{"rendered":"Before the Open (Nov 29)"},"content":{"rendered":"

Good morning. Happy Friday. Happy Thanksgiving. Hope you enjoyed your day off. <\/span>
\n The Asian\/Pacific markets closed mixed. India, Indonesia and Taiwan moved up; there were no big losers. Europe currently leans to the upside. Spain and London are up the most, but gains are not big. There are no big losers. Futures here in the States point towards a moderate gap up open for the cash market.
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\n The dollar is down. Oil and copper are up. Gold and silver are up. <\/span>
\n Today is a half day. The market closes at 1:00 est. I wouldn’t expect anything noteworthy to happen given so many traders won’t be showing up for work. <\/span>
\n As of now the S&P is up 2.47 for the week. Unless the index loses this many points today, it’ll close with its 8th consecutive weekly gain. <\/span>
\n The index is also up 50.69 for the month and will close with a monthly gain for the 3rd straight month. <\/span>
\n I see no reason to abandon my stance. The long term trend is up, and the only side of the market I’m interested in being on is the long side. There will be dips and pauses and bumps along the way, but I’m not interested in riding a mini move down within such a strong uptrend. Staying long has served me well. This doesn’t mean I’m always all in. It just means during a correction, I’ll scale back and look for entries at lower levels. You have to be an extremely good short term trader to navigate the ups and downs within an uptrend. I’d prefer to not even try. <\/span>
\n If you don’t stick around for the day, enjoy your extended weekend. See ya Monday. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Telecom Italia (TI +0.33%) was upgraded to ‘Overweight’ from ‘Neutral’ at HSBC.<\/span>
\n Target (TGT +0.85%) reported that Black Friday sales exceeded prevoius records and Walmart (WMT +0.31%) announced what it called “record-breaking” Black Friday results.<\/span>
\n Standard & Poor’s Ratings Services lowered its long-term unsolicited sovereign credit ratings on the State of The Netherlands to ‘AA+’ from ‘AAA.’<\/span>
\n DigiTimes reported that Toshiba (TOSBF +3.54%) plans to launch Chromebooks (GOOG +0.44%) with Intel’s (INTC +1.06%) Haswell processors in 2014.<\/span>
\n DigiTimes reported that Apple (AAPL +2.35%) has shipped a total of 33.8 million iPhones in Q3, an increase of 25%.<\/span>
\n Dow Jones reports that the Department of Health and Human Services will replace Verizon (VZ -0.24%) with Hewlett-Packard (HPQ +9.05%) for web hosting services on the Healthcare.gov website.<\/span>
\n SAC Capital reported a 8.7% passive stake in Clearwater Paper (CLW +0.57%) .<\/span>
\n The WSJ reported that Charter Communications (CHTR -0.84%) , backed by Liberty Media (LMCA -0.10%) , is lining up around $25 billion of debt financing as it pursues an acquisition of Time Warner Cable (TWC +0.18%) .<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/span><\/span><\/span>
\n Notable earnings before today’s open: none<\/span>
\n Notable earnings after today’s close: none<\/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>
\n