Tuesday, July 22, 2008

That's a Good Thing

Market to AAPL: "That was a good thing that you did.  A real good thing." (From Twilight Zone's It's a Good Life).

Well, if one wants to make a bull case here, it'd be that the market is rallying on bad earnings news.  Should't investors be running to the hills?  We've had poor earnings from AAPL, MSFT, GOOG, AXP, TXN...  Yet, the sellers seem out of juice. 

Oil dropping, too.  Maybe that's the bigger thing.  Oil down another $3 now that the storm seems to be missing the oil fields.  Oh, another storm will come along, but the trend wants to be down right here absent of Mother Nature. 

Financial stocks rallying, too.  They're a large part of the index.

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