Wednesday, June 23, 2010

Weak Earnings

I am seeing some of the earnings come in for after hours and it is disappointing.  BBBY is guiding lower.  NKE came in light on revenues.  MLHR misses bigtime.  This is a preview of things to come for earnings season in July.  I don't think the market has fully priced in weaker earnings and there should be quite a few bombs coming next month. 

2 comments:

Anonymous said...

I think we're in bear market mode, Owl. What do you think? -Petsamo

Market Owl said...

As I said earlier, I believe we will go back down as quickly as we went up. So we should be down to 1040 by next Wednesday.