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United Advisors Chief Market Strategist Scott Martin talks about Sandy’s impact on the markets and investor’s strategies.
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Got -- today after a string of positive economic reports on everything from jobs to consumer confidence.
And rebuilding stocks really led the way companies that sell materials like plumbing fixtures paints and coatings to bedding and furniture.
-- hire some as much as 7%.
As a result of hurricane sandy there is a way to play this disaster joining me now.
Scott Martin chief market strategist sport united advisor sky welcome back to the show always good to see -- Is it too late -- still play this trend or is a -- Yeah I think you can infect people that called the trend over Jerry's -- especially in the home daughters.
Would have been wrong that would have been the wrong thing to do is give up bottom -- -- dollars and absolutely -- -- -- you talked about -- the other.
Name's -- the retail names to -- -- -- I feel kind of dominated about Lowe's and Home -- last -- done pretty well these last couple days and that's not a place -- that would give up -- I like retail -- like the homebuilders.
But how much -- can they gallon homebuilders in particular.
I mean as you said yourself well I've been on fire for how long time I mean stocks don't grow at -- -- hi my -- Are they don't well I think what doubt there's nothing about homeowners they -- absolutely crushed in the last two years though Gerri good old daughter's over like the 0809 period.
They didn't really bounce backs I think they're finally having their day in the sun and I think housing market's bottom not -- it's gonna rocket up here but I think housing construction is gonna pick out.
Well from your lips to God's here.
It's about US treasuries for a second there was a report today.
That investors are turning cautious on US treasuries T believe it.
Well I heard the same story about two years ago I didn't believe it then -- -- believe a last year and I might believe it now except for the fact that I don't really think.
There's a lot of money that's gonna fly -- a treasuries why because we're still.
The world's biggest consumer and how do you find -- the world's biggest consumer you lend them money -- hello the US government still issued tonnes a debt.
To keep us spending so I don't think rates are gonna go up here I do like corporates vs treasuries -- -- double the -- double the yield.
And a -- less of the risk.
I wanna hear what you have to say about the -- in New York Stock Exchange this week they closed down for a couple of days -- said -- The people who work you're not gonna be safe -- -- they can stay -- not worry about it what do you make of that.
I think Jimmy -- I mean I agree I think it would probably been in harm's way but really the question I think -- Duncan Niederauer is well did you really need those people down there I mean Jerry.
Don't -- that -- report did there's a final report out of the New York Stock Exchange as the couple weeks ago.
-- beer volume Jerry on the floor in New York is down 35%.
Because exchanges like bats it -- like direct edge.
Are taking all that flow off the -- so guess what.
You don't really need people there they just don't want to admit it.
While that -- about going all electronic and they dismissed it out of hand why.
I don't.
No I mean I think there's still some allegiance is down to -- -- old way of training but.
Look at this is another example of these systems and technology that we need to get in place that we frankly have available.
That we can put in place to take care problems like this is sandy happens to come back.
I don't sandy doesn't come back quite clear they -- again I'm done with -- -- have -- right yeah Scott thanks for coming on tonight so it's good to see you.
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