The street can con you all they want to keep this bloated market up but the truth is this has been a very weak earnings season.If the market were truthful we'd be at 11k
Sort of expecting to see that shown in true fashion post earnings...economic outlook doesn't look too glossy.
agree, Also what is bothering me about this market is the amount of buybacks companies have been doing in the last 18 months, its incredible to see what is happening. What these buybacks are doing is only reducing the number of shares and increasing earnings per share. Makes everything look that much better when its really not.
All wallstreet has to do, to keep the band playing is start talking about rate cuts again. Now they can say earnings are suffering because of higher rates, we need a rate cut. Then the fed will do as they are told and start to hint at a rate cut. Then the dollar will trade lower, and all hell will brake loose. RATE CUT RATE CUT RATE CUT RAH RAH SIS BOOM BAH.
It's repeated over and over on these forums, but why waste time worrying about what the market "should" be doing? You only profit from what the market is doing.
Exactly. Isn't the true value of any instrument (stock, index, commodity, etc) the price at which you can sell it (or buy it) for? Regardless of what we "think" it should be priced at.
but if you have a medium-term view the fact that the market is going up without earnings tell you to stay away for now
Wow some disastrous season. Only real suprise was GOOG not meeting lofty expectations and CAT's truck engine division slipped yet its competitors ETN and CMI seem to be doing great.
I dont think US growth has been good for over a year. Wall Street is assuming that the ROW is going to provide the growth. Thats why its so important to watch the EMs. When they turn down its over.