I saw that. While 2/3 thirds of companies beat their numbers, 2/3's of companies also warned for Q3. Makes it hard to figure out the future, n'est pas? That is why I would like to the see the S&P p/e as well. The trend in p/e would be a lot more informative. The source I use is always a month or two behind. I don't see that a market with a p/e of 31 (May) is sustainable for long. This is why I'm just going to hang lose until the market tells me what it is going to do. This seems to be cusp time, both bulls and bears are confused.
Beating the numbers is not the be all and end all. There are two easy ways to beat the numbers.
1. Set the guidance going forward low. "About the same, +/- 10%."
2. Pro Forma (torment) the numbers until they work. I've seen quite a bit of this in Q2.
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