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lexi2004

04/20/08 8:38 AM

#18212 RE: 3xBuBu #18203

Agree with you regarding the market;however, how can a company do poorly on earnings when the bar is on the floor?:) All these financials that report where CNBC is saying earnings were decent is unbelievable. First of all there are all kinds of write downs, next guidance is lowered, and any number of other things then the market goes up if they meet the bar on the floor. I'm looking for a turn around next week. Since we're in earnings season, we could still go up more; however, I think a ST top isn't that far away. BTW, I went short ALTR on Friday with shares and puts (+LTQQD). I'll add if it goes up more this week for while news regarding earnings was very good, I think in this market we're going to have some profit takers due to the big move up in a short time.

Lexi
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lexi2004

04/21/08 7:53 AM

#18249 RE: 3xBuBu #18203

Let's see how creative CNBC is today trying to put a positive spin on this.:)

Bank of America's profit drops 77 percent in first quarter- AP
Bank of America Corp. said Monday its profit fell 77 percent in the first quarter, hurt by trading losses and a $3.3 billion increase in reserves for problem loans.