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8.9.2016 - Insiders Club Bookmark

8.9.2016

See?  I was mentioning the other day that most of the gains in this market come in the gap ups.  Yesterday the market put in an incredibly low volume, flatline hugging session. But sure enough this morning the futures are inching their way higher. At 6 am they were slightly red. At 7 they went green. Then at 8 the S&P moved up to +3.

4.22.2016 - Earnings Disasters Bookmark

Earnings are coming out fast and furious, and for the most part they're horrid. Intel guided lower and announced they'll lay off 12,000 people. Google missed. MSFT was light. Caterpillar is an outright disaster. If you look at the "scorecard" the TV will tell you that 68% of the companies reporting have beaten their estimates. Yeah, right. Using "NON GAAP" adjusted accounting. If they simply used GAAP standards, only 44% have beaten. But worse...of the ones that are beating, 80% of them are doing it on lower revenues.

Less revenues folks. Take that as "sales". Should stocks rise as sales fall? Not in a real market, but in this central bank controlled mess, it's just business as usual. 

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