According to the guy from Thompson Finanacial today we are seeing less negative pre-announcements than we are positive pre-announcements bumping numbers and estimates up. Thompson Financial used to be called First Call which tracked the quality of earnings each quarter including warnings and positive bump ups. According to them the ratio has fallen for the quarter from 2 negative warnings to each 1 positive bump up ........to .8 negative warnings to each 1 positive bump of pre-earnings announcement. So according to them we are not seeing more negative warnings this quarter but in fact less, much less.