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FRONT-RUNNING UPGRADE MONDAY

10 January 2010 by Cullen Roche 5 Comments

There hasn’t been any official merger or upgrade news, but investors are eager to front-run the market open. Shorts are running for cover ahead of earnings season and the analysts continue to play catch-up as their estimates remain well below reality.  Futures are up 40 points on no news:

Cullen Roche

Cullen Roche

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Comments
  • Anon

    Strong China data

    01/10/2010 at 7:46 PM
    • Cullen Roche TPC

      The rally in Asia was mainly due to the approval of index futures. Strong export data was secondary. We’re seeing the usual Monday morning ramp before M&A and upgrade announcements.

      01/10/2010 at 8:01 PM
  • Frederick

    Agreed, TPC. This theme has the potential to repeat on the calendar for a few weeks…buy it after lunch on Friday and sell into a blast off open on Monday with the analyst upgrades. It’s getting to be a fearless, complacent market, but it can stay that way for a while.

    TPC, when do you see the comparisons getting more difficult for companies, as they are obviously clearing some pretty low hurdles here?

    01/10/2010 at 8:13 PM