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I would that would the market recently -- our country and the birds Obama the fiscal clip.
And the threat of another recession -- the market would be well.
It but it's not.
Here to weigh in and rob -- -- chief investment strategist of welcome securities act -- over the last month especially all three indices.
-- S&P -- up about over 4% gap want right.
Well Tracy I think the market is realizing that.
January 1 this is kind of a false deadline and sometimes it's not like Y two K remember that where we thought everything was gonna shut down on January 1 of course it didn't.
I mean we know that's not going to happen here.
And and then also to it seems like we're going to get some kind of solution or there is a range of solutions has put it that way -- from the grand bargain which probably isn't gonna happen.
Two more were.
Kicking the can down the road so is this current overbought -- you know I I don't think -- I think I think I think.
The fiscal cliff is priced -- appropriately I think it's a pretty cheap markets 1414.
-- and a half times earnings.
Did you talk before that if you take we take a step back from this fiscal nonsense are companies have never been stronger right yeah absolutely -- on the down right.
And and that's and that's another and I and I know you you kind of grew up in the business I look at stock.
I remember that back -- advantage and as you know.
This is this terrible sentiment over the fiscal cliff is great for stocks -- the wall worry.
And -- -- -- said I mean technically speaking though the S&P 500 looks good -- of over 15200 day moving average.
Earnings estimates -- starting to expand so by any other measure.
Stocks according right now except for this fiscal cliff that's when.
You -- net earnings season and in this upcoming earnings season a lot of companies tightening their belts flood consumers tightening their -- It seems like -- -- were hopeful anyway that the third quarter is going to be the trough and then and then we should.
In the fourth quarter it's not going to be gang busters but.
Now the third quarter was barely break even breath and and we think and you know 45% for this quarter but then next year could be could be double digits again really.
And I know you like the financials how yeah she's just because -- that became fall further.
Yeah basic and we have very -- And and I'm staying away from the big the big money center banks that could still have balance sheet -- so.
Yeah -- like -- insurance companies alike support.
Processing bank here Malin yes is have you got Arnett well it's not on our -- let's -- -- all stay as well yep.
Those are those are two favor financials.
Illinois Tool Works have -- gallon.
So that's kind of the global infrastructure play looking at industrials because -- financials are favorite investors are favorite.
You know gu global infrastructure spending and there's any news -- -- -- and it's there's been a story even today about hurricane sandy relief in my head quarter knowing forever -- -- actually infrastructure.
That's gonna help companies like the only two works real.
As -- -- of an apple unite keep talking apple great -- I don't on the -- still on the -- don't know well further you know would it -- course and the old don't catch a falling night.
It's that still on our list -- I'm asking Middleby on US -- and you come back we'll talk about again that's happening yeah you think you and again that is.
For my in the traffic absolute -- again is -- city today.
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