Tuesday, October 13, 2009

Europe Not Too Confident in Earnings; October 13, 2009

Europe ended very weak across the board (see above) which does not suggest confidence and strength going into earnings. It could just be profit taking from the huge rally leading up to earnings; I mean afterall, with the huge run ups so far how much higher can they really go.

But with J&J's disappointment, the Goldman Sachs downgrade, and now Europe taking profits, perhaps it's a sign of what's to come in the next few weeks.

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