Worse Timing Ever Or "Dead Cat Bounce" -- October 16, 2018

Updates

Later, 3:20 p.m.: talking head on CNBC now admits analysts are always slow to adjust earnings forecast when "things" change. Analysts did dot not take into account the Trump tax bill. Earlier this month (or was it last month?) a talking head on CNBC said that the biggest (positive) effect on earnings from the Trump tax bill would be seen in 4Q18. Note: these are earnings for 3Q18. So, if one thinks the big quarter will be the fourth quarter, look at these numbers coming out in 3Q18. 

Later, 3:13 p.m.: others --

• IBM - misses on revenue; falls 4%

Later, 3:06 p.m.: CNBC senior analyst seems surprised by Netflix beat. It was huge. On all levels. Netflix up 14%; up $49; now trading at $395. 

Later, at the close: 

Original Post

Prescient. CNBC predicted the Dow (irrelevant) would jump 500 points today -- and predicted that well before the market opened today (link here):

496. Right now (1:35 p.m., October 16, 2018), the Dow (irrelevant) is up 496 points. Could the Dow be up by 500 points any time today? Don't know. Just asking. CNBC crawler says Dow was up 500 points at least once during the day. Crawler: stocks are surging on earnings. On pace for best day since March, 2018.

*****************************************

Proof That Pocahontas Is No Longer Being Taken Seriously