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  • My Gut Feeling For Today, October 30, 2017: Just the FAQs

My Gut Feeling For Today, October 30, 2017: Just the FAQs

October 30, 2017 / scott / Technology / No Comments

We are approaching the apex of earnings season. Last Thursday’s spectacular earnings reports from Alphabet (GOOG / GOOGL), Amazon (AMZN), Intel (INTC) and Microsoft (MSFT) gave the equity markets, specifically the NASDAQ 100 (NDX), another boost higher to record levels.

This week we get the FAQs: Facebook (FB) reports on Wednesday, Apple (AAPL) on Thursday, and Qualcomm (QCOM) also on Wednesday. You can toss in Priceline (PCLN) on Friday morning for good measure.

Also this Wednesday, is the FOMC rate decision and then on Friday we get October’s monthly jobs report.

There is some reason to believe that the FAQs can duplicate last week’s tech triumphs as there is an interconnective aspect to operations across the tech world. There is rampant speculation, as there always as, for Apple following a new product launch. It appears that demand for the more expensive Apple X is quite strong. Demand based backlogs are being reported by the tech and financial media. AAPL is less than a point away from its all-time high. Piercing that ceiling price will set the stock, and the overall markets up for another leg higher

October, the month of crashes is on track to deliver an above average return, barring any unforeseen events in the next two trading days. As I have mentioned before, the market is in the sweet spot. Positive returns in October for the Standard & Poor’s 500 (SPX), has, with some few exceptions, yielded positive returns in the last two months of the year.

As a result, as we say here in Las Vegas; it is time to press your bets. If you are playing with house money, it is worth getting more aggressive, not less, in the last nine weeks of 2017. We will have ample time to rest Monday and Tuesday and get positioned for the busy days the rest of the week. 2018 is still far away and we can take chips off the table when we get there, if we need to.

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Disclosure: At the time of this commentary Scott Rothbort, his family and/or clients of LakeView AssetManagement, LLC was long AAPL,FB, GOOG, GOOGL, PCLN, QCOM, SPY, SSO & SPXL— although positions can change at any time.
Scott Rothbort is the President & Founder of LakeView Asset Management, LLC, 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. LakeView Management, LLC is a Nevada LLC, with its principal office located in Henderson, NV and branch office located in Millburn, NJ
Scott Rothbort is also the publisher of the LakeView Restaurant & Food Chain Report, a newsletter focusing in on food, restaurant, beverage and agricultural stocks. An individual subscription to the newsletter can be ordered at www.restaurantstox.com Furthermore; Scott is also a professor at the Seton Hall Stillman School of Business in South Orange, NJ.
– Read Scott’s intra-day thoughts and comments on Scutify for which he is a co-founder of its parent company Wall Street All-Stars, LLC
– You can email Scott at scott.rothbort.lakeview@gmail.com

© 2017 LakeView Asset Management, LLC. All rights reserved.

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