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Big Banks a ‘Buy’ for Investors?

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    ICAP Equities Managing Director Kenny Polcari on the stocks for investors to watch.

  • Duration 5:12
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OK let's bring back in April -- if I cap equities some managing partner to give us a trader's perspective on what's moving the markets -- a year ago.

This is the fox fifty down.

All of the things here are also in the S&P 500 so let's get to that level that you're looking at next because -- -- start to look pretty good by Tuesday not so much today not -- -- -- and we're right back you said at the beginning of the show we're right back we were last Friday at 14251420.

-- -- yet to be right now -- That should be a level that it's gonna hold if we -- level we -- it.

You don't decisively.

That you -- look for 141014100.

Like that is going to be the real next level I think it'll hold that because listen as we've discussed before.

There -- plenty of money on the sidelines people that long term investors that wanna put money to work had been waiting for the opportunity they felt like they missed it when it ran away from them now it's coming back in so here -- low it is going to be plenty of demand you just talked about the floor what about the ceiling level.

Well the selling level 1475 is is kind of the intraday high to we've been 1464.

The high closing you know the most recent high closing.

If we break through that you've got fifteen and yet nothing in the way you'll get the fifteen -- very easily OK now let's pick out some individual names and as we start with financials because you can select financial -- -- -- idea which one do you think we need to pick out is that I like at JPMorgan if you have month into it's just the stock that I like I think they don't.

Right I think that if if we're gonna start to move photo we start to think about what's gonna get us out as.

The financials which have certainly been underperforming for a long long time are now starting -- lift that they had.

I like JPMorgan I -- the group I don't you don't like I'm not I'm not I don't recommended aren't.

It's a personal well let's just make a point though that it is getting somewhat closer to of course the other 52 week high which is more like 46 -- 42 right now not quite there yet but.

It was you look and figure out exactly what's going on what about the regional banks do you get a sense that when you look at some of these names have an opportunity Ortiz to with a big names well I see optimistic that the big names because I know the begins better.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Wells Fargo would be is certainly a solid name that I would look at the other ones you know I'm not so -- are not -- white but it costs Wells Fargo or read I don't really -- -- -- practices.

-- actually on the regional level fix that -- I care about thirty but I wanted to point this out just for the moment for breaking news this Home -- with trying to make -- -- -- it right now okay.

That would make sense based on the recent housing data except what let's go to industrials because that's another sector that you tend to feel pretty positive us about it I think when when we come out of this Malays that were -- and when the world global economy starts to really turn around.

I think there's going to be massive infrastructure products that going on everywhere so what -- It's so you don't Caterpillar joined years of the world -- part of our opportunity gets that you wanna see a two year so three or have a lot of what you're -- what.

Not now listen I think Wright who would get it right this little here where Iran.

Dollars in the market under pressure today right -- seventeen -- the high over the past couple minutes right where you don't thirty points away from not level right so I think that if you start to see this when you spend the economy -- and I get the feeling.

Based on the recent macro reports that may be.

We're gonna start to see that happen.

Why not I -- you know you look at that and again when you see some of these other names everybody gets a doubt about it knocked up -- you know.

Boeing is not going away found -- just isn't so you know you look at a name like that say there's a dip.

Meantime it's just down a third of a percent now that's right but you know these -- -- if you the long term type invested these are names you wanna be -- that you -- days like today on days like today.

On -- like this within the real listen up this is -- you want to have the cash available for -- worksheet he came out with the numbers today and they did happen disappointment and yet General Electric is another one of those names like okay how panic.

We're talking about 1987.

Is there really any blue chip companies anymore or is that a misnomer at this point it's still think -- all right still believe that you know there -- -- there are real Americana blue -- -- -- -- -- I would consider -- names like General Electric ICI would say that absolutely there's no doubt that I would call that -- blue -- America and Republican at American Express right now down about 61 cents at the moment to -- -- even 57.

Again this is a blue chip company that has a solid quality of clientele right and they do and listen you saw we saw -- their earnings it's showing that you know there is their clientele that's continuing to spend some money.

And so for them that's right right what excellent -- like this right you -- have been at almost all of these you could pick -- one of them but semiconductors again already on the screen financials already on the screen keep going back to any of these names of restaurants happened epic struggle at the moment McDonald's is of course.

The one that came out with numbers right now when you see it as a three year chart here pulling back from that level does that make you nervous.

You know it doesn't really make me nervous that that's pulling back I think today is is one of those days -- you're just getting.

You know it kind of feels like people at that you some money off the table based on.

What we've gotten in terms of the reports and have not been.

Super stellar they're missing on the revenue line and -- -- -- guidance going forward I think what -- -- after the election and you get all these CEOs that are cut banding together to march down the Washington about this fiscal cliff if they if they can shake Washington up and there's some deal I think there's market are exotic stuff all right and as we finish up let's sell it.

-- breaking there is some deep well is moving higher it's the one name that out of the -- candy great to see you thank you very much headed Paul -- I cap equities managing partner closing bell ringing in six men.

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