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Robert--My Word!! Every quarter we see 1) analysts who're terrified
that tech earnings will come in under expectations; 2) companies who
pre-announce earnings below expectations, which fuels more hysteria;
and finally 3) Real Tech Earnings reports, which are mostly very good,
some extraordinary. But by then, of course, the whole sector's taken
a major hit. A pity: they really ought to stop to consider that
whatever they may think of it, and however little they may understand
about it, this IS the market sector likely to show most growth over
the next several years. Is that a bad thing? All this aside, I am
more concerned about the behavior of the market in general this week.
All of the potentially threatening statistics--PPI, CPI, wholesale
prices, retail prices, new unemployment claims--came out just fine.
And today the price of the long bond made a nice comeback--maybe not
as much as one would like to see, but a positive move all the same.
SO WHAT GIVES? Normally all this would do great things for equities;
why hasn't it? Janice.
rrrrrA |
