What a great showing for the bulls this week. As more earnings reports came in, they seemed to reaffirm that the end of the world is not at hand. Even with poor earnings from the financials, we're seeing recoveries (as in Merrill Lynch and Citigroup). Most impressive was GOOG, which basically destroyed any bearish thesis by proving that they were not suffering from a slowdown in paid clicks. Yesterday I told a friend when GOOG was at 501 that it could rally 100 points today, and it almost did. Next stop on the upside is in the 560 area.
Next up is BIDU's earnings report next week. The gap between BIDU and GOOG closed to an all time low yesterday, with BIDU at 327 and GOOG in the 440's. Today we are back at a 200 point gap. I still think we're going to see a closure, but not this week as expected. Earnings season continues in full force the next few weeks, we'll continue to see a lot of volatility. Have a great weekend.
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what are your thoughts on IBM? I have a small position and it's done quite well. it has a decent dividend, but I'm wondering if I should cash out. What do you think?
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