Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[Lane Hall-Witt]

The market today is hugely impressive. The news flow was about the worst imaginable -- lousy retail sales, lousy consumer sentiment, lousy forecasts from WMT and S, lousy earnings report from LRCX, reduced guidance from JNPR -- and the market has translated all of this into a positive. All the LRCX CEO had to say was "I can't imagine it getting any worse than this" and all of a sudden everyone thought he had called a bottom: SOX 588 and rocketing!

EMC and TLAB seem to be the only companies where bad news is bad news. Odd--.