The Dow is at an all time high. Oil is falling. Temperatures are mysteriously warm. The
economy is kicking. What more could you want? How about earnings right in the middle of this. Bears and the media are looking for something to be wrong. They pray for it. They seek out every ounce of it in all the positivity.
Well, this week they won’t find it. The big boys are going to rock and the people with the intelligence and the balls are going to get their affirmation this week. The hedge funds have dumped the ebays and yahoos and moved to “old school” tech and banking, the ciscos, intels, and citigroup. They are growing at a nice pace but most investors are still caught up looking for the next great rookie when Pujols is sitting right there on the bench.
This week we get Apple, Intel, GE, Citigroup, Merril Lynch, IBM and Motorola (be careful on this one). Expectations are getting high but the earnings will be even higher. Put your money in the market and keep it there. I love the components of the Dow and think that the QQQQ’s could go up 20% this year. Why am I so positive? I simply look around. People that spend are making more. The parking lots are full and the weather is great around the nation, overall that is. I’ve never seen so many 7 year olds get iPods. These earnings are going to be nice, very nice and I plan to be there for the long slow ride up.