The fact that they beat would have been enough last quarter. Not this time, eh? Things that make you go "hmmm"...
In my opinion Alcoa was the red flag that went up. Once they came in and beat by using cost cutting when their real numbers were down, I knew we were in for a bumpy ride. Now you got JNJ trying to pull the same trick and they got fried in the pre-market.
Uh, they all tried pulling the same trick last quarter. And it worked. That alone should tell you something.
I dont see any ramp up at all. JnJ disappoints, GS downgraded, look at CIT, most banks actually down pre-market. I dont predict but will be on the short side as soon as the velocity on the downside increases. The only thing that keeps the indexes unchanged pre-market is tech names.
Please look at the time that was posted. If you had, you would have seen that the comment was logical.
well at least I kept an eye on the market. Sold some Vix Oct20 22.5 puts and long 20 Vix Futs. Lets see how we get through this earnings week...I am happy I dont need to predict ;-) attached my positions.
bernanke 'got him. ok guys, do what you need to do now' fed technition1 thank you sir' fed technition2 ' he's kinda weird, isnt he' fed tehnition 1 'no worse than the last guy - he thought running up housing prices was the answer to everything' fed technition 2 'this isnt going to end well, is it' fed technition 1' nope'