Wednesday, September 30, 2009

Back in black (CSCO, IBM, INTC, AXP, CIT)

As in, not in the red anymore. US stocks bounced hard off this morning's lows, and are just slightly positive. IBM, Cisco and Intel, with some help from American Express, are leading the Dow off its earlier drop. Impressive performance, considering the potential CIT shareholder wipeout, the weak PMI numbers and higher than expected job losses predicted by ADP.

Don't worry I found some bad news! David Levy, while not calling for armegeddon, does warn that this economic recovery will not not snap back as quickly as in other recessions.

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