S&P 500 Seemed Tired After Better than Expected 3Q Earnings

Posted on 26 October 2009

John Furlan submits: Just before 10 am EDT Friday, Oct 23, AMZN was up 20.7%, MSFT was up 8.5%, both on much BTE (better-than-expected, my short-hand acronym for Wall Street’s highly manipulated earnings game) 3Q reports, yet SMH was down -1.3%. That combination of prices is not something you see every day. By the end of the trading day, the initial decline in SMH proved more indicative, with Nasdaq down – 0.5% for the day and S&P -1.2%. For the week, only tech was up among S&P

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