Friday Outlook: Riding Google's Coattails

Obviously I missed a pretty good day Wednesday but it didn’t surprise given late night futures we’re pointing to a positive opening on enthusiasm over tech earnings.

IBM (IBM) didn’t disappoint earlier this week, and after maintaining the status quo through most of the day Thursday, Google (GOOG) beat after the close adding to more tech enthusiasm.

With markets in a bullish mood any bad news [Merrill’s (MER) write down, high energy prices and inflation] were tossed aside as “old news” and momentum higher was maintained.

I spent most of the afternoon yesterday with ProShares in Bethesda, MD meeting with Michael Sapir, CEO., Steve Cohen, Managing Director, and Terri Berg, VP Communications. It was a great meeting and I gained good insight into their products and philosophy. This will allow for greater ETF Digest coverage of ProShares’ existing and new products in the pipeline.

Today I spend the day with Rydex Investments.

Thursday’s volume and breadth were quite ordinary.



























The problem children may be washed-out.





















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Comments

[Ames Tiedeman]

The GOOG numbers surprised me and a lot of other folks.