Hah!! What happened to those who sold this name down to 45 Friday? What did they know??
Nothing!! As advertised!!!!!
They had their best 4th quarter EVER! And the stock closed above 51!!
How about Emerson Electric? They had blow-out earnings also! How's that chart look now, you short seller losers???
What did they know who sold off this number?
Look at US Steel today. See the shakeout the bears put on this number? They shook the trees, but this time, the bulls on this beaten down name, didn't believe their game of "Let's Pretend!" That's setup to ramp also.
But one of the biggest bears on the street, David Rosenberg was clearly shaken. Here's his Breakfast with Dave commentary this morning. He, in fact, had to acknowledge the strength of the ISM. He concluded with this:
If you take the GDP report at face value, then potential growth must be close to 7%. That is ludicrous.
But what he couldn't grasp, is that his conclusion wasn't ludicrous, but in fact, it was correct. What he thought was preposterous, needs to happen, just in order for this economy to get on track!
Breakfast With Dave February 2, 2010 (David Rosenberg)