today was just boring, the nasdaq traded down 4-7 points all day and the dow was lucky to break 12460+++. I guess thats what you get after 4 straight days of gains on the DOW.
And didn't NKE report blowout earnings, mak? It reminds me of Morgan Stanley. Blowout earnings yesterday, up huge yesterday (with everything else), and then down today.
Yea like everyone. AAPL, MS, GS, NKE. Blowout earnings and they get killed. Thing is, blow out earnings like these usually tend not to occur near market bottoms. I can't wait for a period or entire quarter of disappointments. Guiding down one by one, lower margins and lower revenues. What will the analysts say then? "BUY NOW THERES A LOT OF VALUE OUT THERE. STOCKS ARE CHEAP". They won't change their verbiage a single bit.
NKE had a lot of overseas growth and that's where gains are being attributed to, that may not fare well for the US outlook. Tomorrow's housing numbers could hurt. These lenders finally stepping back from Wall Streets hugging arms and having to cut off the subprimes and pretty much drying up their pool of potential borrowers are going to really hurt the economy. This problem is bigger than people think and cutting interest rates won't help. Those numbers tomorrow might reflect the initial stages of tightened lending to the subprime school of people.
Well, the market didn't even budge since that post. Straight, sideways, flat-lined. My trading has been getting much better lately. I should probably go buy a tube of lube for the punishment in store for me next week....