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Crisis will stocks rally thanks to a healthy dose of optimism in Europe although coming off their highs -- -- -- here.
President and financial group in -- ill.
We -- talking in the break about a commodity that conversation off our highs -- -- 169 points right now on the Dow.
Technically we've broken out of this range we've been in since early August -- hold that in the close in the very bullish but in the very bearish if we drop down below wouldn't.
-- because we sell off you're looking right now the market.
We have this resistance -- -- -- in its trading range and we keep bumping against it which is.
Tells me a lot of times that you're gonna sell off from that we've also rallied 15% in the last three weeks I've got this level but today we're breaking above that level to multi month high if they close above that what that does it -- -- programs that people start going in and buying outsourcing.
But if you actually break that intraday closed -- get to technology you can't close above that level which are criteria on right now that's about as negative you can get going into the weekend and I think we're going to see is so often that we can't fight had to make a -- right now I think we sell off and we can.
Why technical trading session for the last day yes the -- exit strategy of buying -- right now because lot of different things there's optimism going to meet with.
Possibly if Phil -- reminding us that there's a lot of talk now that the Fed might step in once again so.
We know coming up riskier assets we're seeing the bond market gets kind of coming up again and yet there's still with a holistic risk going shore up market and earnings to -- Yet the blast from the feds stepped in was actually last October and end in this six months following up the stock market -- 35%.
So He gets the weather is optimism that the Fed comes in with QE3 quantitative easing -- -- the problem with that is I think -- become numb to that because I think people realize that just a short term move that really long term is not good for the economy is not good for the US for them to step in again continue to spend money so.
That is maybe a short term resort word trading up right now but I think it's based on earnings is based on a lot of optimism coming -- Europe and if and a deal is not done this week in this market it's actually crunch had we not only because I think to be a technical breakdown but Europe won't come out and -- was -- Even if they do come out of the deal.
That that cloud still looming over and what I wake up every morning this market's very tough because you can be down.
Three her points and Dow up three or puts a doubt based on a rumor coming from across the pot which it makes it very difficult for investors.
You know stocks and really volatile as we know we talk about every David so have commodities and generalists are cyclical of the longer term -- -- meet.
We corn soybeans.
Sugars and through the roof and -- crashing again.
You like grains that you like and I've had done ETF called Doherty CN rather JJG -- you like Green some.
Well if you think you know grains is that we need -- the matter what's going on in the world you know -- -- emerging markets more massive feed increasing middle class they now are upgrading to better food.
So to have a demand issue and at the same time -- a supply issue because supplies not increasing you see inclement weather all around the globe consistently so we have -- -- increasing supply is not increasing prices go higher also if you US dollar play as the US dollar falls commodities particularly grains do really well -- -- -- the US dollar come back the last three weeks.
I think that downtrend continued especially they do QE3.
The US dollar gets cross -- -- -- -- well I think you're looking at a whole economic backdrop of global picture right it wasn't like a company in the medical devices industry so we're kind of making a sea change this is more of like a -- some long term emergence of the baby -- type think -- of -- make those surgical.
They do these robotic arms for surgery to replace knees and hips I mean you look around there's -- everywhere that people have great air the new.
-- medical procedures.
You know what president weaker economy they might but you know -- -- majorities that's gonna buy insurance so it's a second -- -- that much more I think to do that.
Plus of your hit you can't walk you have to do your hip replaced -- my my.
And also you like a play them guessing is and Asia people ballot well right no no no this really -- is again baby boomer to think that people always do matter the economy.
Botox and breast implants and that's what -- does they own Botox and they owned restaurant if I would -- Libyan -- -- because -- -- -- now more disposable income in the -- always like the things that Americans like that that -- about a blue -- And then went from there yeah I think it did it yeah blue jeans the breast implants as you read a book.
On on the Asian economies and their their out there like that I did a -- -- yeah that's -- none but that's that's the all time -- that shows you no matter what's going on economy you know these even if they're real girls are put -- Botox her face of what to start you can't stop it's an addiction you know.
-- I'm -- apps are out just for the record okay.
You've got some previous content picks.
That's Matt kinda can a little bit getting in that -- unless talk about which an analyst speaking of that discretionary purchases the apparel group yeah.
Did GI idea OGG thirty dollar 39% biggest not waited long enough no no that's not actually broke down that's what they actually -- every -- -- -- -- they got hurt like cotton.
This cotton hit all time high -- -- couldn't pass on those prices they make a lot of video cotton clothing.
Is a thing on a lot of these -- we had this unusual.
Collapse of the market in late July and early August.
The double down do you buy more on on a lot of ways it's really like a longer -- -- -- that you have to sort of one off event that really.
It's if you do because.
If you think about that company for example or any company out there you know -- -- apple that it would market came down.
What's going on in Europe isn't gonna have a direct affect ought allergens or -- apple yet but what happens is ill when the market comes down in that magnitude brings the entire market down with it.
And it's a study that came out just about a month ago saying.
This is a very rare time because it's very rare that when the market comes out -- brings everything down with it so they brought all stocks that's a suddenly you have strong stocks they're just being sold for no reason and that creates opportunities present imagine yen and -- double down a strong come all those 90% days that we had a ninety doesn't down exactly -- up.
He here He is struggling with this Philadelphia Eagles off to the we're still I really got a hammer him on a couple does that last name is -- -- you -- you -- -- out of the playoff high -- W last night next.
So I don't see them -- it expects and it's.
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