Sorry for the delay in posting, being out of town for the weekend, put me behind in the 8-ball in terms of the schedule.<\/p>\n
As of Friday, October 19th, ’12, the “forward 4-quarter” estimate for the S&P 500 fell a whopping $0.02 (two cents), from $111.85 to $111.83 and in a continuation of the pattern we cited last week, year-over-year growth for the forward 4-quarter estimate rose to +5.72%.<\/p>\n
While Friday’s sell-off was ugly, it is my own opinion, but I dont think it has much to do with forward earnings expectations.<\/p>\n
Technology is bearing the brunt of the bad headlines as q3 ’12 year-over-year growth for the tech sector is now just barely positive at +1%,down from +2.3% expected as of 10\/1, and +13% as of July 1.<\/p>\n
The financial sector expectations for q3 ’12 are now +9%, which was a +5% estimate as of 10\/1, and a +4% estimate for q3 ’12 as of July 1.<\/p>\n
It is interesting that q4 ’12’s estimate for the S&P 500 as a while is still about 10%, with financials and telecom having shown the most improvement since October 1.<\/p>\n
Hard to believe that the financial sector is now the port in the storm.<\/p>\n
We’ll be back with more later this week.<\/p>\n
One worrisome aspecto to earnings is that the number of negative revisions is now outpacing positive revisions for the 2nd quarter in a row. That makes me nervous.<\/p>\n
Trinity Asset Management, Inc. by:<\/p>\n
Brian Gilmartin, CFA<\/p>\n
Portfolio manager<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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