enigmaman

Earnings Preview, Week of July 20-24, 2009

Seems to me that GS and JP Morgan reported great numbers as a result of Fed intervention and their great FED borrow and lending terms, otherwise they would have been DOA, IBM, Intel did well but does this represent the American consumer health or just a narrower market segment, what about GE horrendous report wouldn't that be more representative of sentiment of the broader consumer market. While the Feds preferred lenders are doing well what is happening to those who have to fend for themselves like CIT, not good. Tech seems to be doing OK but based on what, are consumers upgrading their computers, business upgrading, governments upgrading? New build Housing numbers improved, is it because demand is rebuilding or its that just that time of year where builders start homes or the first time buyer tax credit will expire soon, car sales are up slightly, why, is it clunkers for cash ? Whats is the read between the lines truth, I want to believe things are really getting better but something just isn't adding up and Im looking for reasons to believe otherwise. And don't get me started about all the spending the Gov has and will do, the new programs and higher taxes coming. Like they say " Dont piss on me and tell me its raining" I want to believe its rain but something is telling me its not