It sounds like something out of "Monty Python and the Holy Grail," but it is actually a technical analyisis indicator with a stellar track record.
Microsoft shares are up a whopping 39% in the last 3 months, trouncing the whole market and the rest of tech. Has Bing provided the bang that Mr. Softee so desperately needed?
Clearly investors are worried about the appetite for Treasuries weakening, since so much of this comeback is riding on the government's continuing ability to spend.
One trend of this earnings season is late buyers swooping in to bid up shares in the final hour. If true this time around, this buying bodes well for the health of this comeback.
Investors with so many reasons to take profits (busiest week for earnings reports ahead, the release of bank stress tests, poor economic data) are clearly biased toward owning stocks.
Stocks recovered late yesterday in anticipation of Goldman's blowout numbers and now are off their lows today ahead of Intel's report after the bell.