If these are the type of beats we are expecting from specific large cap companies, these type of companies (the Intel's of the world) deserve a slightly larger multiple. Instead of a forward PE of 10, why not 12? (Okay, enough pseudo arrogance, lets tone it down and get serious).
In all seriousness, these numbers are intimidating for a bear, especially a bear blindly selling two weeks ago.
An awesome truth to anyone already positioned long, is that the big boys are terribly under invested for these type of earnings. But again, I do not want arrogance to blind me here, and believe it or not, after a series of good calls, it can.
I will look to take on some short-term market protection soon. I will look to take it on when the SP 500 is around 1110-1120.
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