DOW 0.92% $6.44 downer edi limited

savage selling over...

  1. 2,533 Posts.
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    for now...

    it makes no sense to continue the dramatic selling as there are still 100's of companies to report. From an earnings point of view, the US is still expected to post positive growth in this qtr, so far i've read that they're at 8.6% growth compared to the expected 8.1%, this is worked out by companies that have already reported and comparing results to their forcast. Earnings are then expected to increase in the following qtr's, 16% and 12%, so i really can't see this being earnings related.

    The earnings isn't really that bad compared to this time last year either, so IMHO the harsh selling has been overdone by a fair margin and is mainly due to other economic factors that haven't been released yet, may or may not be warranted.

    Today should see the DOW end pretty even as investors have seemingly come to their senses and are putting a hold on their trigger happy finger, realising that they've probably shot themselves in the foot when it comes to re-entry.

    The ASX should be a pretty steady but green day....
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