Here’s One Of The Few Stocks To Trade Higher After Blow-Out Numbers

  • February 1, 2005
  • Tim Truebenbach

Today
is the 6th day of an attempted rally to bring us out of
the correction that plagued the market for January.

 

 

We are awaiting a 2% rally on
heavier-than-average volume, or a follow-through on the rally that began on
1/25.

Google (GOOG)
reports earnings after the close and is expected to make at least 77 cents a
share on $590 million.  The whisper number for this stock is up to 84 cents. 
Since earnings season began, the market and most growth stocks have been
declining.  Apparently, expectations are fairly high as we have seen stocks like
Yahoo! (YHOO) handily beat their estimates and still sell-off. 
Chicago Merc (CME) was the latest to fall prey as the stock reported numbers
and is currently trading down over $20. 

 

 

Apple (AAPL) has been
one of the few names to trade higher following absolutely blow-out numbers. 
Although it did take a couple of weeks to materialize.

 

 

While the market is still
correcting, it is best to move into strong technical and fundamental stocks only
into pullbacks to areas of support rather than paying up for them.  You may also
choose to await a follow-through day.

Tim Truebenbach

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