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Earnings Roll, and the Beats Go On

Before the open on Jan. 16, Goldman Sachs (GS - Get Report) ($137.13) beat EPS estimates by a whopping $2.13 earning $5.60 per share. The stock popped higher setting a new 52-week high at $146.28 on Tuesday. The stock maintained its buy rating with this week's value level at $139.29 with my semiannual risky level at $180.10 where the stock traded back on April 17, 2010.

After the close on Jan. 17, Intel (INTC - Get Report) ($22.00) beat EPS estimates by 3 cents earning 48 cents per share. Intel gapped lower at the open on Jan. 18 trading as low as $21.03 versus the weekly pivot at $21.17 on cautious forward guidance. Intel still has a buy rating with my semiannual value level at $19.80 with this week's pivot at $21.81 and quarterly risky level at $24.88.

Before the open on Jan. 18, General Electric (GE) ($21.13) beat EPS estimates by a penny earning 44 cents per share. General Electric traded as high as $22.20 on Tuesday. Going into this report General Electric was upgraded to buy according to My semiannual value level is $19.17 with a quarterly pivot at $21.19 and monthly risky level at $22.26.

Before the open on Jan. 18, Schlumberger (SLB) ($73.75) reported in-line EPS earning $1.08 per share. SLB traded up to $78.04 on Tuesday. The stock remains buy rated with this week's value level at $72.99 with semiannual risky level at $94.62.

On Jan. 21, I wrote, How to Trade the Big Stocks Reporting Earnings Tuesday and the beats go on, as eight of the nine stocks I profiled beat EPS estimates. I will provide a scorecard on these plus Apple tomorrow.

The Dow Industrial Average (13,712.21) closed Tuesday above my quarterly pivot at 13,668 and its daily chart has become even more overbought with a 12x3x3 daily stochastic reading at 95.09 on a scale of 00.00 to 100.00 with a reading above 80.00 being overbought. A close this month above 13,668 puts the focus on my quarterly and semiannual risky levels at 14,118 and 14,323.

Without a monthly close above 13,668 on Dow industrials the risk is to my annual pivot at 5469 on Dow transports, which closed Tuesday at another new all time closing high at 5757.44. To confirm a Dow Theory Buy Signal the Dow industrials need to have a daily close above its all-time closing high of 14,164.53 set on October 9, 2007.
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AA $10.21 -1.10%
GS $159.48 -2.20%
INTC $29.86 -0.81%
MON $91.65 -2.40%
WFC $48.75 -1.80%


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