Thats exactly right, they have lowered the expectations so much that anything looks great......given the great rally today on JPM/INTC and KO earnings.
The VIX broke sharply below its 200 day moving average for the first time since August of '06. Remember the Fall 2006 rally? Whatever you think of the market's logic, don't try to stand in its way.
And why is the market going to rally hard??? oh I forgot, the biggest credit crisis in history is over with, a few months, tons of liquidity pumped into the market, rates below 3% and free money has helped everything, let the rally continue, this time to 16,000 please....
I hear ya dude. I used to feel the same way and finally after spending countless hours trying to find out why the market does this or that I gave up. It does'nt matter. I trade what I see--end of story. As far as gas goes I have to say that I am happy I only fill my tank (maybe) once every three weeks unless I take a trip somewhere. Lots of friends saying they are spnedint $65-$200/week just to go to work. That almost pays my major medical (@ 100/week) so thats all good not to mention the traffic. Anyway--have a good one--trade what you see and let the other guys figure it out. Good Trading GT
This is unsustainable. Stagflation at it's best. Coke had awesome earnings, "big deal". JP did better than expected, again "big deal". However, this might be saying that the market hit bottom the other month since todays beige book was bad news and the market still rallied on the earnings reports.
Too bad you are unable to pull the trigger and TRADE. Your "brain" and built in "bias" does not allow you to do so. To you, the market is never right. It's always wrong. So I guess we will continue to see more and more posts from you like the one's above . . . Yawn.
I can't believe this market is still going higher. In hindsight, it is starting to remind me of Oct/Nov/Dec '07, when credit problems started to appear and the market still rallied. The Fed doesn't have any room for additional cuts, inflation is running high (I still hate how the Fed doesn't look at Food or Energy for their forecasting numbers), and not all banks have reported earning yet (we got MER, C, COF, BAC, FITB) and a bunch of other good economic indicator-type earnings. The market shrugged off concerns from GE, but I'm thinking all the financials can't beat lowered expectations (especially C and MER). I added a lot more short at the close (SPY put spreads and call credit spreads), because I think we're headed lower from here. And, also, now that everyone is calling the bottom (like they did in November, haha), we should head lower.