{"id":7285,"date":"2014-01-06T08:29:25","date_gmt":"2014-01-06T13:29:25","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=7285"},"modified":"2014-01-06T08:29:25","modified_gmt":"2014-01-06T13:29:25","slug":"before-the-open-dec-6-5","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=7285","title":{"rendered":"Before the Open (Dec 6)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a great weekend. <\/span>
\n The Asian\/Pacific markets closed mostly down. Japan dropped 2.4%, China 1.8% and Indonesia 1.3%. Europe currently leans to the upside. Belgium, Italy and Spain are posting decent gains. Futures here in the States point towards a positive open for the cash market.
\n<\/span>
\n The dollar is flat. Oil is up, copper down. Gold is up, silver down. <\/span>
\n After two holiday-shortened weeks, we finally have a full week of trading (although I’m going to have to duck out today to jump through some ex-pat hoops…it happens from time to time).<\/span>
\n Here’s the weekly…rock solid uptrend…although it has run a little from it’s long term uptrend…and a negative divergence between the price and Histogram has formed. <\/span>
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\n Here’s the 15-min chart that goes back two weeks. A steady uptrend was broken the first trading day of the year and now a bearish pennant pattern is forming. A measured move takes the S&P down to about 1815 – a very moderate move considering the recent gains. <\/span>
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\n Long term the market looks great. Short term there’s been some technical deterioration. And with it being a new year, you never know if a psychological shift has taken place in traders minds which can temporarily disrupt the market. Be on you toes here. More after the open. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n Men’s Wearhouse (NW) began a cash $57.50 tender offer to the shareholders of Jos. A. Bank Clothiers (JOSB -0.46%), which represents a 5.7% premium to last week’s closing price. The companies continue their battle for control that began when Jos. A. Bank approached Men’s Wearhouse with a $2.3 billion buyout offer.<\/span>
\n GE Healthcare (GE -0.07%) will acquire Thermo Fisher’s (TMO +0.38%) cell culture and gene modulation units for about $1.1 billon.<\/span>
\n T-Mobile (TMUS -3.27%) will acquire certain 700 MHz A-block spectrum licenses for $2.365 billion from Verizon Wireless (VZ -1.18%).<\/span>
\n Autonation (AN +0.95%) announced that its total retail new vehicle sales were up 6% in December.<\/span>
\n Rockwell Collins (COL +0.96%) was added to Deutche Bank’s short-term buy list.<\/span>
\n The Chinese government indicated continued support for the solar industry, according to a report on Saturday by Reuters, thus providing support for Chinese solar stocks such as JA Solar (JASO -2.41%).<\/span>
\n Liberty Media (LMCA +0.62%) offered to acquire Sirius (SIRI +2.00%) as a wholly-owned subsidiary in a deal valued at $3.68 per share. Siruis rallyed 5% in after-hours trading on Friday on the acquisition news.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n 10:00 Factory Orders
\n 10:00 ISM Non-Manufacturing Index<\/span><\/span><\/span>
\n Notable earnings before today’s open: none<\/span>
\n Notable earnings after today’s close: SONC<\/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