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but what matters most right now is the action in individual stocks individual stocks they have no ideology they won't mislead you they're not bent as the cops would say in the line of duty fabulous British detective show why don't we start with Apple I mean you know how much I like to start with Apple Apple's the stock that's breaking out new all-time high and it's thanks to the incredible popularity of the iPhone 11 which is selling much better than Wall Street expected because it turned out to have this tremendous longer battery and the amazing camera perfect for Instagram at the same time CEO Tim Cook has been able to navigate his way through the trade war much better than almost anybody else I know he's spending time with leadership of both countries of the Trump but she get this I think this is perfect about who he really is he gave the commencement address at Tulane where my daughter went and at Stanford this year but he also just got a joint last week the board of the prestigious Ching hua university of economics and management in Beijing last week cook spoke to China's State Administration for market regulation according to Reuters he talked about expanding investment in the People's Republic consumer rights protection and Corp responsibility in other words cooks not waiting for the train talks to be resolved he's not on the sidelines he's on the front line so if I was the trade war trying to companies down so far it's working at least for Apple and its shareholders who rewarded with a 1.7 3 percent increase we're dollar intensive game guys this is a trillion dollar company supposed to be able to go up four dollars and ten cents for having sex now when Apple's on fire it has a lot of semiconductor pin action let's see cirrus logic Texas Instruments have a broad sky work solutions micron a rally in these stocks can trigger dramatic move in the whole Nasdaq it's a mammoth breakout that silences the macro junkies who blather on endlessly about the Fed the fading inverted Yoker we're big economists Florida's pretty hard to find if you're examining most domestically oriented companies he's speaking of domestic operation how about that amazing run in the stock of teamwork sup another three boss today it is hard to believe that such a high quality stock still sells for less than 12 times earnings with a year of nearly 3% but it's true see that's what happens when you report spectacular earnings the stock of JP Morgan it's ridiculously cheap you can't have a real bank rally without this one it's the best of the best that's why the stocks fabulous moved today was a locomotive the pulled Citigroup the pulled Bank of America and it pulled Morgan Stanley along with it once again if you were taking the professional pessimist seriously you never would have been able to capture this move no way no how we've seen so many big-time money managers hedge funds they come on our air and they say it is the end of the world there's just forget about it hey by the way they're really rich and maybe you're not they've made the money they don't want you to have it or at least that's what it seems like to me you know what's they think that the financials are the epicenter of the soon to self-destruct market at least until they started reporting last week now it doesn't matter that they have consistent mid-single digit of quote do they call us MSD on Wall Street really bugging the heck can't even say the words is it harder to say mid-single digit than it is to say MSD no anyway it didn't matter if they all balance will buybacks and dividends and it didn't matter that the consumers an amazing shape the macro guys don't care about this stuff they only care about the you curve and and that's why they got it all wrong not that clever telling you that it's why they've missed out on this terrific Bank rally Rama
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