HUGE MISS BUT WHO CARES! GOOG MISSED TO WHEN YOU EXCLUDE THEIR OPTIONS EXPENSE. BUT WHO CARES BUY BUY BUY.
I think CAT missing is more important to the markets than Google topping estimates. CAT is really showing you the slowdown in this economy, GOOG cannot guage this type of thing. There really is a slowdown in this economy and I find it sad that its going to take more than CAT missing earnings to show that. This Market at 12k is a joke. Yesterday the talking heads were talking about DOW 13,000.
market down 27 points on this news. Incredible. I bet if CAT was up 8 dollars the dow and nasdaq would be up over 1% without any problem......Even at these overbought levels, news like CAT totally missing earnings drops the market less than .25%%%%.
Wont be long now I am sure the market will be green in time for lunch, everyone will say wow look even bad news cant bring the market down, lets buy buy buy buy. This fairy tale story will soon end and its gonna get ulgy, buy who cares for now lets just buy buy buy.
Geez Dow almost revisiting 12000 again with one of its major components down 13 percent. I think calling these manipulators "crooks" is being gentle.
I have turned most of my attention to the grains, soybeans has been good to me lately. I just cannot force my self to trade the index futures at these levels. I am not going to short them, and I sure as heck am not going to get long, at these levels its just to risky.
CAT is one of the leading indicators of this market and economy. Seeing it down nearly 10 bucks gets me even worried. What gets me more worried is that fools cant even put 2 and 2 together to even notice there is a slowdown on the way. CAT is proof. Dow off 0.15%%%% and CAT of 10 bucks. hmmmmm Manipulated I think so....