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Markets Now Negative for 2006
Posted By Barry Ritholtz On January 21, 2006 @ 5:41 am In Earnings,Markets | Comments Disabled
click for larger graphic
chart courtesy of WSJ 
Was it Japan’s Livedoor investigation and market disruption? Iran’s nuclear ambition? Oil at $68? Avian flu?
I’ll say this as plainly as I know how: A wide cross section of blue chip companies shit the bed.
Major Misses on Revenue, Earnings or Guidance
This wasn’t company specific, this wasn’t sector driven, this is not a technical call. This is the Crème de la Crème of corporate America, acknowledging a slowdown in the economy. Period.
If there is another rational explanation, I’d sure like to hear it . . .
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2006/01/markets-now-negative-for-2006/
URLs in this post:
 Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/infodjia060120chart.gif
 WSJ: http://online.wsj.com/documents/info-djia060120.html
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