{"id":8473,"date":"2015-04-10T07:44:50","date_gmt":"2015-04-10T12:44:50","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=8473"},"modified":"2015-04-10T07:44:50","modified_gmt":"2015-04-10T12:44:50","slug":"before-the-open-apr-10-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=8473","title":{"rendered":"Before the Open (Apr 10)"},"content":{"rendered":"

Good morning. Happy Friday.<\/span>
\n The Asian\/Pacific markets closed mixed. China, Hong Kong and South Korea rallied better than 1%. Europe is currently mostly up. Norway and Germany are up more than 1%. Belgium, Amsterdam and Switzerland are also doing well. Futures here in the States point towards an up open for the cash market.
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\nMy public list<\/a> at stockcharts.com is here. If you’re a sub, vote if you want me to continue posting.<\/strong><\/span>
\n The dollar is up. Crude is down, copper is up. Gold and silver are up. Bonds are up. <\/span>
\n Last day of the week. As of now we have across-the-board gains from the indexes, and I’m seeing some improvement from the breadth indicators. Here are the weekly S&P and RUT charts. Overall there is nothing wrong with these charts. Both are consolidating within uptrends. Day to day and week to week it can be frustrating to trend traders, but the overall health of the market remains in place. <\/span>
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\n Oil has improved a bunch the last month, but the landscape won’t be any easier going forward if the dollar is going to leg up from this pattern. The dollar has been strong for a while and in all likelihood is not close to finishing its eventual overall move. <\/span>
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\n Overall I like the market. Play the best stocks from the best groups, and until the market breaks out, be content with small wins. <\/span>
\n Trade in the direction of the trend (up)…focus on the groups and stocks that are doing the best…cut losses…when appropriate, add to winners. Oh and one more. Chill. Don’t make this harder than it inherently is. <\/span>
\n Stock headlines<\/strong> from barchart.com…<\/span>
\n GE (GE +2.88%), in a bid to boost profitability, confirmed a deal to sell $26.5 billion of real estate, authorized a new $50 billion stock buyback plan, and will work to terminate GE Capital’s designation as a Systemically Important Financial Institution (SIFI).<\/span>
\n Netflix (NFLX -0.42%) was upgraded to Buy from Neutral at Citigroup after the recent pullback and the target was raised to $525 from $409.<\/span>
\n GM (GM +0.50%) was adding to Citigroup’s Focus List as the analyst says the recent 6% decline provides a buying opportunity.<\/span>
\n Ruby Tuesday (RT -1.23%) reported Q3 EPS of -1 cent, which was better than expectations of -4 cents.<\/span>
\n Deutsche Bank (DB -0.79%) is close to a deal in its LIBOR case, according to the NY Times.<\/span>
\n Worldwide PC shipments declined by -6.7% in Q1 to 68.5 million units, according to IDC.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n 8:00 Fed’s Lacker: U.S. Economic Outlook
\n 8:30 Import\/Export Prices
\n 2:00 PM Treasury Budget<\/span><\/span><\/span><\/span>
\n Notable earnings before today’s open: DCO<\/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>
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