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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (57261)	8/18/2012 11:58:17 PM
From: Donald Wennerstrom	3 Recommendations Read Replies (1) \| Respond to of 95420

RtS, IMO we have a situation now where earnings matter very little. We have just come through the 2nd quarter earnings reporting season where the reports have been less than stellar, particularly on the revenue side. The following is an excerpt from Dick Green's Page One report this past Friday on the present situation. briefing.com <<Bernanke vs the World "Global stock markets remain unconcerned that Europe is in economic recession, Chinese growth is slowing significantly, and the US is stuck at about 2% real GDP growth. There is no upturn in growth anywhere that suggests the paltry 3% second quarter revenue increase for the S&P 500 will pick up soon. Earnings are expected to be down in the third quarter, and without a revenue acceleration, fourth quarter earnings are likely to massively disappoint Wall Street's unrealistic 10%+ current forecast. These basic fundamentals, for now, are taking a back seat to the fact that Fed Chairman Bernanke will speak on August 31 at a conference at which he has previously announced quantitative easing.>> In other words, the Fed is running the market these days, not fundamentals. Here is a chart that shows the effect of the Fed on the market. Note the right side of the chart where QE3 is expected. If the Fed fails to act on 31 August that curve could turn in the other direction. advisorperspectives.com