alcoa, chevron, pepsi bottling co. all reporting earnings this week and of course experts are saying the focus is going to be on how these companies foresee the rest of the year. and not only these companies were going to be hearing from in the days ahead but those key financial companies that were able to spark the rally back in march. is there any reason for optimism that we saw in the first and second quarters to continue to wash over in the second half of the year. california faces several more credit down grades... as every day passes... and it does not have a fiscal 2010 budget in place. this week, fitch ratings is the latest to cut california's credit rating to triple b - which is 2 notches above junk status. state lawmakers are in the process of trying to close a 26 billion dollar budget short fall... in the meantime... california is now facing a liquidity problem... because it has no budget, it cannot issue short term bonds to continue bringing money in. "the implications are they'll keep getting downgraded un