The week of busiest earning report.
We know it won't be good, mostly C, D, & Fs.
The question is, did the market already discounted the bad grades?
I think "Yes", for next 2 to 3 quarters worth of bad news,
but "No" for next two years.
Most likely we are heading for recession which will last at least 2-3 years...
For long term, more down turn to come and DIA will hit 90 soon and 60-70 by the fall.
Will short more DIA this week.
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This week will be the busiest period for first-quarter earnings reports, with about 1,000 companies reporting, according to market research firm Thomson Financial/First Call. Market professionals will pore through those reports for signs of improving profit growth over the next few quarters and they'll favor companies that look most poised for stronger profits.
``I feel very confident that the market is putting in a bottom and most stocks are oversold,'' Louis Navellier, portfolio manager at Navellier & Associates, wrote in a note to clients. Still, he said, ``It will be difficult for a lot of these oversold stocks to stage any sustained rally without solid earnings news or positive guidance.''
Bellwethers scheduled to report include computer-chip maker Intel Corp. (NasdaqNM:INTC - news) on Tuesday and computer maker International Business Machines Corp. (NYSE:IBM - news) on Wednesday.
It's also the busiest week for banks, with earnings announcements expected by Fifth Third Bancorp (NasdaqNM:FITB - news) and Citigroup Inc. (NYSE:C - news) on Monday, among others.
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