Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Blame Draghi for the Market Selloff?

Details

  • Description

    Heritage Capital president Paul Schatz gives his outlook for the markets.

  • Duration 3:14
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Thank -- Sandra.

OK so if today's selloff as the beginning of something more what -- you do perhaps as a buying opportunity joining me now Chris Perry capital president pot shots with more on.

-- should look to -- over the next four years -- you pop.

-- -- So listen to stand just trade dying gold and how people are public trying to -- profits given the uncertainty in the big selloff in equities market I -- hi I'm actually thinking about gold here in.

Feeling a little more bullish on it when he -- -- again with.

Let us what's coming around -- bend.

I think if he just looked at Obama Romney certainly.

A bomb is bullish golden Romney's bearish go for the obvious reasons of spending -- cutting.

But there -- other things that play -- do you think.

I think gold's going up.

I'm probably not -- prob not gonna 5000 -- announce any time soon but I think on balance especially you can buy gold.

Closer to 1611625.

I think this is a safer play.

I think in the short term maybe we we got tomorrow he's but I think gold is it is a good piece the portfolio.

Back for next year -- the year after in the after that.

Okay fair points let's go -- with the equities market we're down to 65 on a dousing made up already about a hundred points.

Add volatility back in play where do you see this session let's start here short term wrapping up.

And first you know I thought.

And act as they announced Obama won the futures were were down about a percent and they rally all the way to -- you know took the 5 in the morning and so when I woke up at six.

We were up you know a little bit on the S&P futures and then when Draghi came out shortly thereafter that's when the markets really and -- I don't know I would should be today's sell off more to drop he then Obama and that's because.

The bank stocks are being hit hard.

And the discretionary stocks are in -- -- a relative -- is pretty good and no I need to hear them here and.

-- although I have to be honest with you this is -- priced in for so many years at this point and why is it rearing its ugly head today.

For your outlook you know right on the you know in the -- in the aftermath of -- of a disappointing presidential election at least by Wall Street's.

View.

You know it's amazing -- consistent.

The -- comment but it only matters one of the matter is that when it does it really matters.

That markets ebb and flow in which news is he's deemed really important appropriate for the day yeah -- OK if it.

Make that that that's where we are I think -- well I think on balance -- SMP is probably get a pullback to.

I -- thirteen 75 to thirteen ninety over the next week to ten days.

-- form a bottom there and I think we'll begin that traditional year end rally so.

Short -- short term some weakness.

Then I think you have an opportunity to rally for a few weeks to a few months.

But -- I'm really can separate us concern anyway no matter who is president it's pick your pain do you want austerity do you line.

Tax increases do you wanna -- both -- to have recession in thirteen or fourteen it's getting mild.

But so I think you have to really really.

Thread the needle will meet with your portfolio it's not time to load the -- on any one outcome.

I think he had to have a little gold we've got to have some treasuries -- and certainly some equity sectors and.

That's how people are playing this market that hey Bob thanks -- sending you.

Load More