Dog Days of Summer I don’t know about you but I certainly feel we have entered the Dog Days with Sirius, the Dog Star, rising bringing in a period of sultry weather together with sloth like attributes of lethargy, inactivity, and indolence. Weather definitely is the main determinant of the activities of the day such as exercise, walking the dog, or sprucing up the garden and patio. My favorite sloth like activity is watering the various plants and shrubs around our house. Before you snicker, watering has many great attributes if you are experienced and dexterous such as drinking a beverage, listening to music, and visualizing some hot and sweaty activity that can easily be delayed because I am doing a needed task. In case you were wondering, this commentary was written, in my mind, during my watering activity yesterday so another worthwhile task completed while exercising my elbow and multi-functional sprinkler head.Before I get carried away with Dog Days activities let’s talk about the stock market. Despite a great deal of concern and disbelief from strategists that this market cannot possibly continue to grind higher with so many possible landmines and danger signs flashing cautionary signals, we continue to enjoy a rising market driven by a dovish Federal Reserve and a dysfunctional Congress and Administration that seems to have embraced the Dog Days mentality for much of 2019. The dovish Federal Reserve was on stage last week and did nothing to dissuade investors to get off this rising stock market train and implicitly stay focused on the keys to multiple expansion; low interest rates and a stable economic backdrop.This week we enter my favorite period of a new quarter when companies face their shareholders and report their earnings and cash flows for the previous three months and provide a glimpse of the future in their guidance and forecasts. Going into the this particular quarter I believe expectations are fairly modest and therefore the so-called bar to jump over is not terribly high and perhaps can be viewed as a success. The tricky part for analysts and shareholders will be deciding if the forward guidance is strong enough to keep the wheels turning round and round and keep this Long Train Runnin ala Doobie Brothers. My view is that investors will stay involved and stay long stocks as long as their interest rates stay historically low. We will see early as the major banks start reporting early this week if investors remain complacent and stay focused on recent dividend increases and capital allocation that is favorable for long term investors.Have a great week,Roger N. SteedJuly 15, 2019KRS Capital Management, LLC (“KRS Capital Management”) is a state registered investment adviser with its principal place of business in the state of Michigan. KRS Capital Management and its representatives are in compliance with current registration requirements. KRS Capital Management may only transact business in those states in which it is registered or qualified for an exemption or exclusion from registration.KRS Capital Management's newsletter services are limited to the dissemination of general information that is financial and/or investment related to United States residents residing in states where providing such information is not prohibited by applicable law. Accordingly, the content in this newsletter should not be construed by any consumer and/or prospective client as KRS Capital Management's solicitation to effect or attempt to effect transactions in securities or the rendering of personalized investment advice for compensation via this medium. Furthermore, the information resulting from the use of data or other information in this newsletter should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from KRS Capital Management.A copy of KRS Capital Management's current written disclosure statement discussing KRS Capital Management's business operations, services, and fees is available from KRS Capital Management upon written request. KRS Capital Management does not make any representations as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party incorporated herein and takes no responsibility therefore. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.