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  • My Gut Feeling For Today December 20, 2013

My Gut Feeling For Today December 20, 2013

December 20, 2013 / scott / Asset Management, Federal Reserve FOMC, High Net Worth Wealth Management, Investing, Monetary Policy, ProShares, Stock Trading Strategies / 2 Comments

On Thursday, the equity markets enjoyed a picture perfect session with some consolidation after the huge rise on Wednesday. We heard this morning that 3rd quarter GDP rose by 4.1%, a 0.5% upward revision from prior estimates. No doubt that the Federal Reserve Open Market Committee or FOMC had this information in hand prior to making its monetary decision on Wednesday. The naysayers are going to argue that the economy grew due to inventory builds. That is a better argument to make at the end of an economic expansion rather than the beginning. We are closer to the beginning than the end.

Gold and bonds got a slight boost on the back of the GDP report. Stock futures also inched higher. We remain short gold via holding the inverse ProShares Ultra Gold Short ETF (GLL). I expect that the S&P 500 (SPX) and Dow Jones Industrials (DJI) will both make new intra-day and closing highs in today’s session.

Blackberry (BBRY), the once Research in Motion, reported another large loss, albeit less than expected. The company also reached a five year strategic agreement with Foxconn, a Chinese contract manufacturer. My question is – will Blackberry still be in business for the entire five year period of that agreement? My answer: likely not.

For the most part, the markets and its participants are in holiday mode.  The news flow is light between now and the New Year. The weekend is here so don’t forget to kiss your wife (spouse), hug your kids and enjoy

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Disclosure: At the time of this commentary Scott Rothbort, his family and/or clients of LakeView AssetManagement, LLC was long GLL — although positions can change at any time.

LakeView Asset Management, LLC is a registered investment advisor specializing in high net worth private wealth management. For more information on investing with LakeView Asset Management, LLC call us at 888-9LAKEVIEW or request more information by clicking on the contact button on the top right hand corner of the website                                                                                       

Scott Rothbort is also the publisher of the LakeView Restaurant & Food Chain Report, a newsletter focusing in on food, restaurant and agricultural stocks. A subscription is included with a paid Platinum Membership to Wall Street All-Stars or an individual subscription to the newsletter which can be ordered at www.restaurantstox.com 

Read Scott’s intra-day thoughts and comments on Scutify 

You can email Scott at scott.rothbort.lakeview@gmail.com

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Blackberry (BBRY), Dow Jones Industrials (DJIA), ProShares Ultra Short Gold (GLL), S&P 500 (SPX)

2 comments on “My Gut Feeling For Today December 20, 2013”

  1. tom wegmann says:
    December 22, 2013 at 5:15 PM

    Dear Scott, was so pleased to get your email Fri. morning. Have missed your wisdom ever since you left Real Money which is just a hollowed out shell of what it used to be. Hope your Holiday is a Happy one and I so look forward to your future comments. Best regards, tom

    Reply
    • scott says:
      December 22, 2013 at 10:28 PM

      Tom- Thank you for your kinds word and I am happy that you can once again enjoy and profit from my commentary – Scott

      Reply

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