Strong News From Cyclical Stocks Helps The Market Tread Water!
Strong earnings continue to fuel this market. Almost 30% of the S&P 500 companies have reported earnings and 70% of them have beat top line estimates. Over 80% of the companies have exceeded profit estimates. Stocks were priced for great news, but the results have been even better than expected. In October and January, stocks sold off after the earnings were announced. That temptation is still there and traders have attempted to "sell the news". However, the numbers have been so strong that buyers are scooping up shares before the decline can even get started. This morning, Caterpillar and Whirlpool blew …
April 26, 2010
• Posted in: Options
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