Last year, when the stock market was on autopilot and bad news was dismissed for a variety of rationales, I wrote that there would come a time when good news would be equally dismissed, and stocks would tumble on good news. This earnings season is providing a great test of this theory, except there is a wildcard aspect to the action, particularly over the past month. There are very open and vocal attempts to crush the market, beyond that which is being done by the typical fear-mongers and book-hustlers.
Now, the pros are pushing hard to crack the stock market, often with the flimsiest of arguments, and often against great news and developments.
However, listening to experts pick apart the earnings from Facebook (FB) and Apple (AAPL) after the bell was the most awkward example of unvarnished bias. Especially from people that would otherwise promote themselves as agenda-less similar to the way Russian judges stick it to an American ice skater.
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