Wrap – Week Ended 08/07/09

As 2Q09 results fade away and people look to the earnings picture for the second half I'm left thinking that the summer conferences are the only thing left to buoy the stocks after the broad market's mega rally of the last few weeks/months. For most companies, cost cutting efforts culminated in beats of drastically reduced eestimates but we are now entering that "so now what?" phase of summer. The Street has historically abandoned ship this time of year, wanting to get in one last trip to the Hamptons or Hilton Head leaving stocks listless on light volumes. I too will be venturing out mid week, doing my part to rally jet fuel demand. Wrap comments will be incorporated in the Monday post.



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