Analysts Lower 2015 Earnings Estimate Again (05/05/2015)

Analysts have lowered their earnings estimates for 2015 again:

From Ed Yardeni:

Although the dollar might have peaked on March 13 for a while, and the price of crude oil might have bottomed on January 13 for a while, industry analysts who cover the S&P 500 are still lowering their earnings estimates for both 2015 and 2016. They now expect $119.02 and $134.18 per share for this year and next year, down 5.9% and 5.2% from their estimates at the end of last year.

Stock market players do not care about earnings.

Last week's Investors Intelligence Survey showed that 57% of people are now bullish on the market while according to the CEO of Ameritrade after he analyzed 6.5 brokerage accounts he found that people are "fully invested" with practically zero cash and many on margin.

These people do not care what price they pay for stocks or that earnings are being downgraded.

They simply believe that the market is going to go up forever and will be not denied in what will be their final gamble.

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