A big bounce in Apple/Tech and continued strength in a few Dow stocks led the market higher. If a momentum leader makes bullish comments on an earnings release, are there any bulls left to buy? Beyond not being able to expand margins in 2011, VMWare gave us another decent report, but so far it is down $5 after an initial pop. VMW is another victim with triple digit p/e ratio being sold after hours. We also have CSX, AXP, AMGN, and TXN all reporting after hours and they are all down. But I doubt the bears would try anything until Obama and Bernanke are out of the way, especially when Obama want to push the “economy into overdrive” to get re-elected.
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