News Focus
News Focus
Followers 113
Posts 13225
Boards Moderated 0
Alias Born 07/07/2002

Re: Public Heel post# 97547

Tuesday, 04/15/2003 12:41:34 PM

Tuesday, April 15, 2003 12:41:34 PM

Post# of 704041
"I've done some research on earnings reports, and found that the heavy earnings period lasts for a month (e.g. right about now, until the deadline on May 15), except for the year-end reporting period, which is more like six weeks."
--------------------------------------------------------------

Public Heel....

Technically, you are correct, but for earnings that drive the markets, the show pretty much ends this week. That is why I say that if AG can get through this week he pretty much has it made, barring new bad news of some kind (SARS could become a killer for both AG and the market if it gets as bad as some are predicting.) I would say that how the markets handle tomorrow the earnings due out this afternoon will probably answer the question, with INTC, MSFT and TXN being the keys.

INTC has reported strength in Asia being the only bright spot for it in recent quarters, and if SARS is as bad as NVLS claims, INTC could give a serious warning this afternoon that could send us sharply back down - if they were to give an honest assessment of their business, I would expect a warning even without SARS. We will just have to wait to see. MSFT and TXN are also highly subject to giving lowered guidance in my opinion. If that happens, AG will surely have his work cut out for him.

With the uncertainty surrounding INTC especially, I would normally look for selling to take us down this afternoon, but after yesterday's jam job, nothing would surprise me.

For now, AG is giving all indications that he will continue to do whatever it takes to hold the markets and drive them higher - he about has me convinced he will be able to do so over the short term, anyway. This morning's performance was very impressive to me, and when INTC, KLAC, AMAT and NVLS all came sharply off their lows and started driving up on the usual patterns of simultaneous large buy orders forcing them higher despite the NVLS warning and IBM refusing to give guidance, I covered a number of my shorts. While I cannot bring myself to go long, I felt that easing up on some of the shorts was prudent here.

It is hard for me to believe that the NAZ could break 1400 here, but it is equally hard for me to believe we are not at 1200 or below already. The very obvious signs of manipulation in the markets have me spooked.

mlsoft

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today