Time to Buy...? VISA, XOM Earnings.

The market was up over 10% the other day and its continues as the FED cut rates yesterday by a half basis point. Question is whether this is just a dead cat bounce or a real change in trend. Consumer Confidence was at a 28 year low and the GDP report was not good, but sometimes the news is representing whats already happened in the market.

Visa (V) announced that it's fourth-quarter loss narrowed to $356 million, or 45 cents per share, from a loss of $1.66 billion, a year ago. Excluding one-time items, the credit card company said it earned 58 cents per share, topping Wall Street expectations by 2 cents per share. Revenue came in at $1.71 billion, up from $1.46 billion a year ago and above analysts' projections for $1.68 billion.

Exxon Mobil (XOM) reported that third-quarter earnings rose 58% to $14.8 billion, or $2.86 per share. Revenue arrived at $137.74 billion. Excluding items, earnings totaled $13.38 billion, or $2.59 per share, topping analyst expectations for a profit of $2.38 per share on revenue of $131.4 billion.

Remember patience is very important when trading.