We are very optimistic of the recent October fall. We think that with this fall, the market is about to rally into end of december.
Although DOW went down 100 points at one point today, we do not think this fall is sustainable. Most likely it will bounce back up soon.
This is especially so when Apple reports a terrific 4th quarterly earnings yesterday.
As reported by Marketwatch:
“Apple today announced financial results for its fiscal 2014 fourth quarter ended September 27, 2014. The Company posted quarterly revenue of $42.1 billion and quarterly net profit of $8.5 billion, or $1.42 per diluted share. These results compare to revenue of $37.5 billion and net profit of $7.5 billion, or $1.18 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 37 percent in the year-ago quarter. International sales accounted for 60 percent of the quarter’s revenue.”
Apple strong earnings show something more important than better ipone sales. It shows the confidence of the retail market! It shows Americans are still willing to spend. And this will likely be shown 2 weeks before the thanksgiving holiday on 26th November. I am this time very optimistic about the Black Friday, a day whereby Americans go out on the streets to buy discounted items. This is like the Great Singapore Sale, just that it is a one day, major shopping day in America.
I suggest all to look at this quarterly earnings season and get your weapons ready!
We might be in for a good market rally this november and december!