Why tomorrow will make or break the Dow 10k rally...
#1
Posted 15 October 2009 - 09:28 PM
#2
Posted 15 October 2009 - 11:23 PM
I know many of us don't care about the Dow, but interesting to think about it nonetheless...
IBM is the largest component in the Dow. It should continue its afterhours slide tomorrow. Why? They only beat slightly and guided up (good) but they guided up to a $9.80 2009 EPS and analysts were hopeful of $10.00+ after the run up. Contract signings for Q3 also came in light. IBM is certainly going to drag down the Dow tomorrow and even if all the other indices are green, the Dow is likely to be red as a result of IBM
GE and Bank of America are also Dow components and their performance will affect many others. GE as an industrial will bring down 3M and other big industrials if the industrial side is weak. It’s commercial finance performance could also help or hurt financials. Bank of America is of course a financial and a Dow Component, but depending on how it reports it will also potentially impact other financials like JPMorgan, also a Dow component.
Just food for thought!
If this is not a top forming then I am an idiot
#3
Posted 16 October 2009 - 12:36 AM
#5
Posted 16 October 2009 - 10:45 AM
If this is not a top forming then I am an idiot
Is this a top?
it looks like a break out to me.
and is this a bottom in VIX - sure looks like a break down to me, with a bearish engulfing to match.
looks same 4 me.....IF we drop much more next week any dip buyers will probably be quite happy.