Ha... better than expected earnings. I plan on not trading Monday.. My expectations are 0 dollars in income. If i trade on tuesday. and make $100... my stock should go up huge. THESE COMPANIES HAVE NO GROWTH... just lowered expectations.
oh... i forgot that all the subprime mortgage losses and packaged products that all the banks WERE holding... apparently disappeared when the government injected them with the excess Tamiflu they had from the Pig virus. lol
THE BANKS ARE STILL NOT LENDING. Thats why consumer credit dropped by a record in march. The Greatly "LOWERED" expectations were for a drop by 4 Billion... it was $11 BILLION!!! why the market didn't drop 500 points yesterday... is utterly preposterous.
Consumer lending is down because consumers are finally not using their credit cards every minute of the day.
From a purely technical point, since March 18th we started to create a short term top. Whether the short term top progresses into a long term top is a guess at best but a top is a top. The current longer term range of this ES top is 929.50 & 898.00. The closer range is 923.75 & 909.75. If 923.75 breaches and then 929.50 . . . we go higher. If it doesn't hold and 909.75 and 898.00 Breaches . . . we go lower. Someone said . . . trade price. That is the key. Read price direction and strength as it oscillates inside the longer term and shorter term ranges and deposit the profits.
Because they have large balances due to crooked bank practices that will take 18 months to fix. 9% to 30% overnight... just because they can???!!! Unreal... Do you not watch CSPAN while you color and tease your hairdo's? Chuckie Schumer/ Elijah Cummings 2012 ticket!
Mark these 2 words.... "Tepid Growth" ...That will be the new phrase that pays over the next decade. lol.