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Earnings Season

October 11, 2010 – 4:58 pm

We will have very little economic news this week but an increasing number of earnings reports will guide the market. On the economy about all we will get are some inflation numbers added to our normal weekly reports.

That leaves earnings. We went through a soft patch this last quarter and that certainly will affect the numbers but the experts may have overly downgraded those estimates thus making it easier for corporations to beat those estimates. Expect earnings to look good.

With the soft patch behind us and things looking up again the stock market should react favorably. Currently, it is still underpriced based on historical norms. It may not be a rally like we saw coming out of the recession in 2009 but we will see strong double digit returns before it is over with.

Good Trading
Steve Peasley

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