By Dave Fry, founder and publisher of
and author of the best-selling book
February 26, 2010
MONTH-END WINDOW DRESSING
We end the month of February with a whimper although the last week was thrilling even though little progress was made. This is the stuff of trading range environments. What's impressive is how bad news is bid higher especially in the consumer sector given poor data.
Volume was light and breadth mixed.
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That does it for the short month of February. It was a good month by all accounts offsetting, depending on the sector, much of January's losses. Earnings season came in quite well as most companies (over 80%) beat estimates. It makes you wonder why analysts did such a lousy job. Did companies mislead them or were they deliberately low-balling estimates. They won't say that's for sure.
Now we move further ahead with more economic data next week including the important unemployment number. It seems bad data doesn't concern bulls very much as long as the Fed keeps the punchbowl in place everything is just fine.
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Dave Fry is founder and publisher of
, Dave's Daily blog and the best-selling book author of
, published by Wiley Finance in 2008. A detailed bio is here: