Morning Reading – Wednesday, February 9, 2011

The Big Picture: 90/10 Day Was 7 Days Ago, and That Means . . .

Last Monday, I discussed the usual play book for 90/90 days (90/90 Down Days Followed by Rally, Then…).

The conclusion was: “based on the work of Paul Desmond of Lowry’s, we typically see a rally that lasts 2 – 7 days.”

Well, today was the 7th day following the January 28th sell off. According to Desmond’s historical work, this low volume rally should be running out of steam shortly.  If this market is going to sell off (5-8%), it should start doing so . . . NOW.

The Big Picture: Are Companies Now Gaming Revenue Estimates?

Let’s first ask ourselves, “Why are revenues beating estimates?” Is it because revenues are genuinely good or are analysts and investor relations departments gaming revenues?

FT Alphaville: ‘Nokia, our platform is burning.’

Perhaps Nokia chief executive Stephen Elop is going to ditch the Meego OS and go with Windows Phone 7 after all.

FT BeyondBRICs: Chart of the week: the “Arab moment”

What are the economic trends behind the wave of political unrest currently sweeping the Arab world? And what are the implications of the turmoil for the regional – and indeed global – economy?

Calculated Risk: A Dab of Color: Transportation

After my “D-List Data” post, I’ve received several requests to try to create a list of economic data by priority. I’m working on it, in the meantime, here is some more data for D-List.

Calculated Risk: CoreLogic: House Prices declined 1.8% in December

CoreLogic reports the year-over-year change. The headline for this post is for the change from November to December 2010. The CoreLogic HPI is a three month weighted average of October, November, and December and is not seasonally adjusted (NSA).

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