The DOW broke the important 10,000 level yesterday, a psychological boost following last year's financial meltdown. Nobody expected the correction to be so swift, but at this point we have embraced it. Intel (INTC) and JPMorgan (JPM) started a big earnings week off with a bang, and this morning Goldman followed suit with earnings that exceeded estimates. The problem is that it appears stellar Goldman earnings were priced in, and actually fell short of some very bullish whispers that had circulated in recent days. The market has pulled in early morning trading, and there may be some opportunities to buy the dip.
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