October 22, 2014
Prepared by the good people at Random Walk, LLC. (and Scott)
Great Morning !
Closing Prices From Yesterday
Below is a list of some of the bigger earnings announcements today
Don’t Worry – The Bull is Most Likely Just Taking a Nap.
Weeding out people before huge profits are made is what the market does best.
Yesterday and Today
The SPX was up 37 points and it felt like a dead and boring day. Had there been a negative sign in front of that number every analyst on television would have been saying that the sky is falling. As I stated all the way down to SPX 1820, this is NOT the end. The end goes faster and out of nowhere. It is not because of Ebola, ISIS or oil prices. I must admit that the end is taking a lot longer to get here than I though. But it is coming.
Be careful around 10:30am when the crude inventories come out. For some unexplained reason crude falling was a big consideration when the markets fell two weeks ago. Since 1904 was not even played with (other than closing right on the number for one day) it appears that the bull is back with greater force than previously. Can you believe we are just 400 points away from Dow 17,000? And had IBM not weighed on the markets it would only be 250 points away.
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