The past few weeks have been disheartening. I've been saying to wait for earnings seasons, which starts about . . . NOW. Almost on queue the news and thoughts/comments about the news starts up. For example, today before the market opens, General Motors starts the process. They said profits are up; market share is up; and they're going to buy back mores shares (a good sign); and get this . . . are you ready . . . drum roll please . . they're raising their guidance for the future.
Guidance? Yes, that semi-useful word, meaning projection of profits or losses. We constantly state that, "A stock price today is based on the anticipation of future earnings." There up go.
Remember a few weeks ago when I said to take a look at the Generals?
Oh, in that GM is in the Dow 30, it bodes well for the day.