{+++}Hey guys, sorry that there was no post last night, I meant to let you know but I had to run out and didn’t have time. Apple absolutely blew away the number and also beat the “whisper” number. I guess no matter how bad the economy gets the three essentials are food, water and an Ipod. You just have to tip your hat to the crew at Apple, if you have a premier product, people will buy it no matter what. Amazing.
Dupont beat this morning, so materials should continue higher and if the dollar weakens further, even higher prices will be in store. The question now is where do we go> The NDX and S&P hit new year to date highs. Some bulls thinks 1200is in store, more cautious bulls think 1120-1140.
We got hit on some stops yesterday as the market turned higher in a hurry, FSLR was a widow maker as it really reversed and hit the stop on the same day. Materials and coal are hot and should stay that way for a while.
The bulls have a shot of really keeping this rally going here, some of the really significant high profile names are now out of the way: AAPL, GS, JPM and INTC, which I think is a fair litmus test of different industries.
Futures are slightly higher as I write, some earnings after the close include: AMLN, CHRW, CNI, CREE, CYMI, DSCM, FULT, GILD, HBHC, IBKC, IGTE, INFN, ISRG, MANH, MRTN, NBR, NUVA, PNFP, PLCM, RCRC, SNDK, STX, SLM, SONC, STM, SYK, SUPX, TUP, VASC, VOCS, WLT, YHOO, ZNT.
Let’s manage what we have for now, I will be on Twitter today, if I see anything I will report back. I will be on Stocktwits.TV today at noon.