The Energy And Market Page, T+285, November 2, 2017

If this stock closes above $300 today I will have lost all "trust" in "money managers" in the US.

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Belated "Happy Halloween"

Save this one for next year; lots of masks to choose from. By then the Obama masks (Barack and Michelle) should be "a dime a dozen."

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Wow, Stealth Rally

After a slow start, the Dow closes up over 80 points. Not too shabby. Of course, who does CNBC reach out to, to discuss the tax cuts? LOL. The one in red (fittingly) on the right (unfittingly). But I do like the cosmetic jewelry around the neck on the one on the left (fittingly).

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Wow, CNBC Got It Wrong On Apple -- And, Now, Trying To Save Face

Apple's earnings report is incredibly good. And yet, CNBC talking heads fairly neutral, trying to maintain their composure. Bottom line: CNBC blew it. Apple nailed it.

Later: this is almost hilarious -- the CNBC folks are so skeptical of the Apple results and yet, at the end of the day, everyone will agree, Apple blew away the forecasts. This is quite incredible on so many levels.

Yahoo!Finance has it right: blew past estimates.

Apple Inc's revenue forecast for the holiday shopping-quarter was largely above market expectations, helping allay investor concerns about production delays and supply constraints for the iPhone X, which it will start shipping from Nov. 3.

The forecast comes after Apple gauged demand for iPhone X with a pre-order process that kicked off online on Oct. 27. Many analysts have said the forecast will show how Apple tackles supply chain issues to make enough phones, for which it has reported "off the charts" demand.

The company forecast first-quarter revenue of $84 billion to $87 billion. Analysts on average were expecting $84.18 billion.

Apple said it sold 46.7 million iPhones in the fourth quarter ended Sept. 30, above analysts' estimates of 46.4 million.

The company's net income rose to $10.71 billion, or $2.07 per share, in the quarter, from $9.01 billion, or $1.67 per share, a year earlier.

The $28.85 billion revenue from iPhone sales accounted for nearly 55 percent of total revenue, which rose 12.2 percent to $52.58 billion.

Analysts on average were expecting total revenue of $50.70 billion, according to Thomson Reuters I/B/E/S.

Fast Money says "Apple crushed earnings." And no one has mentioned that Apple's cash pile has increased 13% year-over-year.

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EOG Earnings

AP: EOG tops forecasts --

• 3Q17 net income: $100.5 million vs a loss one year earlier
• EPS: 17 cents/share; adjusted, 19 cents/share
• forecast: 10 cents/share
• revenue: $2.64 billion vs $2.58 billion forecast

From a press release, 3Q17 earnings:

• introduces 50,000 net acre Woodford Oil window play with 210 MMBoe estimated net resource potential and 260 net premium well locations 
• adds First Bone Spring play in Delaware Basin with 540 MMBoe estimated net resource potential and 540 remaining net premium well locations
• exceeds revised post-Harvey crude oil, NGL and natural gas production targets 
• delivers per-unit lease and well, transportation and DD&A expense rates below targets
• expects to grow 2017 U.S. oil production 20 percent within discretionary cash flow including dividends