IBM reported quite good earning report.
IBM reported a better-than-expected 24 percent rise in preliminary quarterly earnings Monday on strong sales in Asia, Europe and emerging markets, driving its shares up as much as 10 percent and spurring a broader tech rally.
I think that we will see good earning reports from the companies which we were seeing good earning reports during Q3. Markets were pricing in bad news going Q4 earning reports, not like Q3 as markets were pricing in good news which were reflected in up price actions. For example, with the recent downgrade by BOA, would think that bad news is priced in unless the earning report is extremely bad.
Jim Goldman's comment on Tech.
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