The Market Wrap Friday 10-7-09

By Jason Fittler

Is this the end of the pull back?

We had little leadership from the US last week with their market holding steady most of the week, although there was some good swing during the intra day trading.

The next couple of weeks are all going to be about earnings and PE ratios. Given the bear market rally we have seen over the past couple of months the market is now waiting to see if the companies have performed as well as anticipated.

I expect to see poor results in the materials sector and a few surprises in the financial sector, but all up, I do think you will see a number of companies provide good numbers and good guidance moving into the 2010 year.

As such I think that now is a good time to start getting set in a number of stocks which look extremely cheap