Monday, July 11, 2011

Q2 Earnings - Watch the Guidance

We are going to have a pretty good example on how the market reacts to earnings reports this week. One very important note: companies will perhaps report well, but it is their guidance we are to watch closely. If guidance is weak down we go a lot I say. 2nd half recovery and better growth would be in question, so will the S&P earnings per share and price target based on that. I am not panicking, I am strategizing. Fools never change their mind and grind their accounts to $0. Smart traders change their mind all the time, ALL THE TIME. Nothing is wrong about changing your mind with data changing as fast as it does now. If you are not used to changing your mind - please do not trade. Just don't! Leave your opinion and bias behind before arriving at your desk and turning on the computer. You will thank me later...
Read my SPX levels on the downside if you are short and looking for targets to lean against, in case double top / head and shoulders in SPX is being played out here

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