Major banks earning is on the way

4/12/09

With surprising or fake record predict earning for WFC last thursday, the market propelled forward positively. Major stock markets are rallying 5 weeks in a row after made fresh new bear market lows on 3/6/09. Short term is still bullish. Intermediate term, I need to see tomorrow action to determine if market still has stream to go up more. Moreover, GS, JPM and C are going to report their earning this coming week. I am guessing they all will post better than estimate earning since "mark to market" standard accounting rule is out of window, and regulator, government are on their side. They just report what they like and do not really need to write down any bad asset. So, it is not very trustworth earning number for banks for this quarter. But, this imply more problem afterward. Also, it gives me more belief that we will heading more several bloodbath selloff after this fake bear market rally. If anyone is making any $$ on stock market, better set tight their stop loss level or about to take your profit now.