Markets Now Negative for 2006

click for larger graphic

Infodjia060120chart

chart courtesy of WSJ

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Was it Japan’s Livedoor investigation and market disruption? Iran’s nuclear ambition? Oil at $68? Avian flu?

No.

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
Dupont
Alcoa
Yahoo
Intel
Apple
eBay
GE
Citibank

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 . . .

 

 

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