Ah ha! The BusinessWeek cover curse strikes again! It didn't help that earnings missed consensus by one cent per share and the actual miss was closer to five cents per share when you take out a one time sale of assets as well as some tax help.
The fundamental problem with any mainstream financial publication is that by the time they get around to reporting on the success of some company, they are reporting the success of some company. They are not predicting the success. They are not doing any analysis to see if past trends are sustainable. The success is in the past. It might continue into the future, but the success that was apparently big enough to attract the limelight has passed and the stock has already risen accordingly.
Much like the rest of the market's overall decline, my time frame is plenty long to rise this out. I expect earnings from most companies to generally disappoint before a pointless rally and then some more selling. The desired solution from the delusional is to continue to cut the fed rate and print more money. Brilliant. Meanwhile, I'll get cracking on that perpetual motion machine. Why oh why do I continue to plan to go overseas for vacation? Oh yeah. The best possible reason.
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