Friday, October 16, 2009

Earnings Commentary

Well, earnings season has officially kicked off. Google and IBM reported after the close yesterday. Last quarter, these two were really the drivers that kicked the summer rally into high gear. They both reported solid numbers again, but its a little different story today. Google is trading higher, but it wasn't enough to lift stocks today. We also got results from lumbering giants Bank of America and GE, both of which weren't taken as great.

It will be interesting to see if investors continue to buy every dip, which has been the case lately. The next catalyst appears it will be economic data or just more investors gaining faith in this market as we climb the "wall of worry."

I have stocks out there I'd like to buy, but again feel many portions of this market have come too far, too fast. With earnings coming out daily, I'll be posting more frequently, and hopefully some posts will be talking about some trading activity on my part.

Have a great weekend!

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