Despite the current Trump investigations and situation in North Korea, the market is at an all time high. The Federal Reserve also recently gave the second interest trade bump of 2017. But this came as no surprise. In fact, we believe there will be one more before the end of the year.
The market has likely seen its highest point for the summer, so expect to see things start to slide. However, our aggressive portfolios are slated to see a 12% to 15% return by the end of the year.
Let’s review the stocks we’ve favored this year, so far.
Tesla was our number one pick at the beginning of the year and it’s still our favorite. We estimated that Tesla would reach $300/share by the end of 2017. However, now that the stock is almost at $400 a share, we believe Tesla would reach around $450/share by December.
Apple is another one of our favorite stocks and it has continued to impress us throughout the year. Keep an eye on Apple in the next few months, as the company is getting ready to introduce a new iPhone.
Bank of America ($23/share)
With banking stocks going quiet for most of the year, Bank of America is holding up the rear. Even so, when interest rates start filtering into the economy, we’ll see the bank sector providing some great value.
So what’s up with the energy sector?
Well, we made some changes to this area of our accounts this year. We like energy, but anticipated a drop in the sector and so cut off about 10%. This area has continued to drop about 4%, so there could be some good buying opportunity here later on this year.
This has been a great year and all of us here at Sloy, Dahl & Holt want to thank you for your support.
We look forward to providing you with another update next month!
Sloy, Dahl & Holst, Inc.