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02.03.10
Bounce Underway 2 - Pre Market
The Dow posted another triple digit day on Tuesday. The index attained our initial target and then added a few dozen points for good measure. The S&P 500 crossed above the psychologically important 1100 level and is now just 4% below its January high. So far, this is not much of a correction. Crude oil closed up 3.7%, which helped the entire energy sector advance over 3%. Financials still lag, as does tech.  
01.28.10
Pre Market Commentary

The major indices made new lows on Wednesday, but the selling was not serious. After another benign FOMC announcement, the Dow managed to rally 150 points from the low of the day, closing up 42. The technical pattern is called ‘3 drives to a low’ and you can see a chart of it below. The pattern is bullish and suggests that today we will get the best bounce since the decline started.

01.14.10
Earnings Kickoff

Earnings season is upon us. The companies in the S&P 500 are expected to post ‘operating’ earnings of $15.80 per share for Q4, up from $5.62 in the same quarter last year. Operating earnings do not account for one-time charges and other types of write-downs. If the figure is attained, it would bring full year earnings to just under $60, about 10% less than 2008, but 30% less than the peak posted in 2006.