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Market Musings Etc.

|Includes: SPDR S&P 500 Trust ETF (SPY)

The dominant theme in yesterdays note was that actual Sept earnings of companies will beat analysts estimates. JP Morgan announced Q3 results yesterday of 82 cents a share. Guess what was the highest analyst estimate. Not the average mind you, the highest. It was a measly 65 cents a share!!!.
Today three giants will announce earnings in the US. Yes the one and only Goldman Sachs, teh mammoth IBM and Google. After the JP Morgan results, guess what GS is going to do to the analysts estimates. Soundly thrash them is what I think.
IBM and Google will not do any less. So where does that leave the S&P which has already made a new high for the year yesterday?. On the verge of breaking above 1100 is my guess. And what does it mean for the rest of the world? Off to the races again of course. The world indices should continue their rally. Commodities ditto.
I like the tone of this note. If I had just mentioned that the trend for equity indices and commodities is up then the note would be so bland. But by making a story around analysts estimates I have given a reason for the rally. This makes it look like the rally is almost inevitable!!!.
I wish I learn to create more stories like this. Also I now wish I had learnt it sooner. Who knows what that could have meant to my career in the markets. May be I would have ended up being a strategist....... Or who knows? An analyst?