And how'd your first quarter earnings season go?
For many investors, first quarter earnings season was a lesson in futility. Despite blowout results and promises of big stock buybacks from the whose who of Corporate America (looking at you, Apple (AAPL) ), the markets have pretty much gone nowhere the last month. The Dow Jones Industrial Average
We all know how comments from Caterpillar's (CAT) chief financial officer on an earnings call about a peak in demand sent shivers through the market. Boeing's (BA) robust earnings report was largely ignored. And then there is the case of tech darling Nvidia (NVDA) .
Shares are looking a little shaky in the face of a blowout first quarter of its own. There are several reasons for the pullback. But first and foremost is that market psychology is such that Nvidia probably needed to beat earnings estimates by $1.00 instead of the 52 cents reported. The stock is up 105% in the past year, so market psychology working against Nvidia in a sideways broader market shouldn't be a shock.
That type of reaction is a bearish signal. What's not bearish: the CEOs of Carnival Corp. (CCL) and Norwegian Cruise Line (NCLH) telling TheStreet they see no signs of recession anywhere in their business, and don't understand why their stocks are being penalized.
In short, wacky times on Wall Street just before the slow summer trading season. The uncertainty creeping into the markets makes it critical to have someone looking out for you.
TheStreet's founder Jim Cramer is that person, and his latest monthly call for Action Alerts PLUS club members on May 15 is a must listen. Hurry and learn more here about the call. Get the personalized guidance you need, or risk your portfolio have one unnecessarily wild summer.