Today's Wall Street Journal had an article that asked the question "Can Rally Run without Revenue?" Is the revenue situation really that bad? Let's take a quick look at some the data compiled through the Alert HQ process. After each quarter's earnings season, I try to pull together what I am now calling the Growth Report. Part 1 compiles the list of stocks that have shown a year-over-year increase in both revenue and earnings AND a sequential quarter-over-quarter increase in both revenue and earnings. Given the severity of the economic downturn, very few companies have been able to to pull off this trick. The following table presents a comparison of the last two quarters: Q1-2009 Q2-2009 In S&P 500 27 41 All stocks 218 312 The number of stocks in the S&P 500 that qualify as growth leaders and have made it onto the Q2 Growth Report has grown by 50%. Similarly, looking at the entire stock market, the number of growth leaders has almost doubled in Q2 as comp