- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
TRADER TALK RSS FEED
MOST SHARED
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- 8 Retailers that Gain During the Holidays
- Finding the Holiday's Best Buys
- Banks Play Down Dubai Exposure, Investors Still Wary
- Charts: Dollar Could Fall to 80 Yen
- ING Prices Share Issue at Hefty Discount
- Shoppers Hit Black Friday Sales, Budgets Pared
- Obama's Emission Reduction Pledge Paints Future for Autos
- Is Super Bowl Halftime Act Too Old?
- Surprising Options Trades in TiVo Shares
- EA Sports Hopes to Pump Up Sales Through Pop-Up Locations
- 8 Retailers that Gain During the Holidays
- Farrell: What's Different On This Black Friday
- 10 Dividend Picks For Your Portfolio: Chief Investors
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Dubai Fallout Is a Correction, Not Another Crisis: El-Erian
- Dubai's Debt Woes Signal New Era for Creditors
- Banks With The Biggest Exposure to The UAE
- Slideshow: The World's Biggest Debtor Nations
- US Dollar Rises Against Most Currencies—Except Yen
- Shoppers Hit Black Friday Sales, Budgets Pared
- Slideshow: Fantasy Christmas Gifts 2009
- EA Sports Hopes to Pump Up Sales With Pop-Ups
- Cheap Robotic Hamsters Are Holiday's Unlikely Craze
More Videos
Trader Talk
Text Size 
Stocks are holding up well today...financials are down but off their lows...major indices down 1-1.4 percent, but also off their lows....is this a surprise?
It is, given the volume of bad news: December durable good well below expectations, with big downward revisions in November...December new home sales cratering, with big downward revisions in November....and awful guidance or reports from Black and Decker [BDK
Loading...
()
] , Oshkosh [OSK
Loading...
()
] , Illinois Tool Works [ITW
Loading...
()
] , Allstate [ALL
Loading...
()
] , and others.
Well, isn't this all priced in? No. Not when November durable goods goes from down 1 percent to down 3.7 percent...not when Black and Decker gives guidance of $0.05 to $0.15, with analyst estimates at $0.74.
The hope, of course is that the stimulus bill, the bad bank plan, and the Fed buying more of everything will be the X-factor that stabilizes stocks.
This may well happen, but every time I bring it up a chorus of bearish traders shoot me nasty emails: after the stimulus/bad bank stuff wears off and it proves insufficient...we are in for a February - March selloff that will take us below the November lows.
So the bears shout at me.
That's a long way from here: 7449 was the intraday low for the Dow on November 21, 800 points below where we are right now.
_____________________________
_____________________________
LATEST FROM TRADER TALK
Questions? Comments?
POPULAR TRADER TALK POSTS
- Stocks Lurking Near New Highs Again
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
Data is a real-time snapshot *Data is delayed at least 15 minutes