RE:RE:Not a full fledged selloffI feel it is a heavy overreaction to some comments and analysts' expectations on companies' earnings, smartly influenced by organizations and investors who have the interest in ruffling the waters in the stock market. Situations like the one yesterday can create enormous amounts of money for shorters and huge losses for other sellers. Just to look at an example, BMO yesterday lost $11.62 (-8.86%) following a miss in its earnings of 18 cents... we all could say that it was a big miss, but if we look at the numbers BMO still made a profit of $1.8B in its last quarter (resulting in an earning of $2.59 per diluted share, instead of the expected $2.77)
If we look at the market reaction, one could think that BMO went under by a lot while instead they just earned a few cents less than some god-like analysts had declared based on who knows what kind of parameters to be used...
In short, I would worry when a company really loses money and not when the same company still makes almost 2 Billion dollars in just three months