When you look at the SP500 you see several stocks WMT, IBM, CMG cratering, but a few stocks like those above seem to offset (and then some) the losing stocks. Not surprising though several stocks are beating as lots of stocks had estimates cut (some severely). Earnings will be winding down soon.
Today also you had China making their sixth cut in interest an Draga (sp?) talking about more QE in Europe. So I guess the past couple of days are central banks inspired as well as earnings inspired. We now have had about 3 flat to up weeks so time for a bit of pullback?
Been a couple of tough weeks to trade, around break even for the week.
GL Traders
You're funny. Ever heard of central banks?... How do you think this endless rally came to being?
ReplyDeleteThe Dow rose 1,800 points on merit?
I thought it was inspired by 0% interest on my savings.
ReplyDeleteActually worked at the Federal Reserve Bank data center (6 month contract) in Richmond, Va. So I may know a thing or two about the US Federal Reserve Bank.
ReplyDelete