1998 seemed to be worse than now. The trouble is that the economy is slow and increasing the amount of people out of work isn't helping. Chamber's forecast needs to identify a catayst to move the market. History has shown the second rate cut does move the market up. I think we have to go to the depression to find where that didn't work.
A quick sort of the earnings so far. Sorry, if I step on toes, but done imprecisely anyways.
Companies with good earnings: GOOD,
CIEN, TXCC, WFII, NETE, IBM, INRG, JNPR, SDLI, XXIA, SCMR, ORCL, SEBL, EMC, VRTS, NTAP, most energy and utilities, PRGN, TQNT, SONS, Q, RBAK,
Companies with flat or weak earnings: BAD
BRCM, VTSS, GLW, RMBS, JDSU, AMAT, DELL, TXN, EMLX, MCDT, PCS, AHAA, AOL, All contract manufacturers, NOK, MSFT, INTC, SUNW, QCOM, MU,
Companies clueless to what is happening: UGLY
NT, PCMS, CSCO, KOPN, JNIC, QLGC, T, LU, WCOM, SSTI, RFMD, INKT, YHOO, BVSN, BRZE, COVD, EK, MOT, ERICY, NMSS, HWP, CPQ,
If I see a pattern is the large cap techs are stalling on the growth side and some of the midcaps and small caps are holding up well. If the ones with good eanrings these last five weeks go down in April, then it might be flight to bond time.
Jack |
