Do Earnings even matter to the market?

Quote from bonds:

We were just up almost 300 pts in 3 days on a not so surprising good housing # and a nice earnings report from Citi.

Yesterday we had GOOG with a huge surprise miss on top of a surprise horrible jobless claims. And the market is down a measly 8 pts.

After hours misses by MSFT, AMD, MRVL, CMG...

This morning we have misses by GE, MCD, BHI, FDMI, FNFG miss on revenue and guide lower HON, SLB ...

And futures are pretty much flat.

I would think that earnings season has been horrible so far but market is up with no signs of a meaningful pullback. But I have a feeling if Spain get a bailout this weekend we will gap up a couple of hundred points.

Is this market a total joke or is it just me?
More...
==========Yes it matters long term
 
Quote from jsp326:

He's been too busy making 3X the ATR of the S&P every day to post this. But he knew it back in the summer of 2006, just like he knew the ultimate blow-off top was in October '07. Freakin' genius, that Jack.

snip......
More...

this is how part of a day looks to a person trading as described above.

apparently I forgot to post something at some time. Maybe not. Maybe a person can't find my comment.

Over 146 minutes of a day 390 minutes long, one of the trends during that day occurred. Below was the result.

most do not know how to calculate the ATR. So look up how the ATR works.

http://www.elitetrader.com/vb/attachment.php?s=&postid=3652747

If you looked at the print and the AIR response to the IRS, ask yourself what portion of your annual income was made during those 146 minutes.

ask purposeful questions to forward your knowledge and skills if you are keeping up with others.
 
You must log in or register to reply here.
Back
Top