Tuesday, April 7, 2009

Earnings Kickoff

Futures are lower as we digest gains. So far the biggest disgrace by the administration in my opinion is their unwillingness to take back TARP money from those who want to get out from the control of the government. I guess they forgot it's "our" money, but then again if you want full blown socialism I guess you want the ability to tell banks "who" to loan money to. After all, that's how it starts. What an unexpected benefit other than porkulus, for the government to piss away more money. Gotta love it.

Earnings start today with MOS, AA and BBBY report after the close. Alcoa like YHOO is a serial failure when it comes to beating the street, but who knows what the reaction will be, it is such a beaten dog. I expect an earnings bloodbath, but the question is what will the reaction be? It sure would be a great time for the bulls to take some profits.


Gil said...

I am planning to put on a reverse calendar spread on AA near the close to take advantage of the earnings announcement. I go into details at http://TradeNakedOptions.com

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.