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As the president and congress try and come up with a last ditch effort to fix the fiscal left before the end here.
The Dow down nearly 25 points today having fallen more than one and a half percent over the past week.
Here with T tail last year Italy they senior equity strategist board Zacks investment research okay.
So here's the big question.
If nothing happens will there be a big sell -- If nothing happens yeah I mean you could probably expect -- from five to 7% but Jerry I don't think the question has been and.
Easy and I don't think the question is.
That's something getting done there's gonna be -- kick the can solution the question really is.
What are the and what exactly is going to come out of consumers' pockets yet we know we're estimating sort of 15100.
At minimum is gonna be.
The reduced income for the average consumer 2013.
Else and bring the things Jerry -- not -- So why is it though the traders want to see you say Howard consumers gonna be treated.
But Howard trader's been analyzed this.
And then what traders are looking for is as balance should approach is possible if there is such a thing.
And the question really is where does the break point happen in taxes and more are some of these you know we talk about -- he talked about cap gains.
All of those gonna be affected that's that's really where a lot of my colleagues and a lot of traders I've talked to were focusing their energy does remember.
A lot of folks 401 -- believe it or not yes main street our money.
Is in the stock market and you start taxing all that even if it's a retirement accounts you know it's a psychological effects Jerry and once.
Hello it's -- -- psychological my friend it's gonna be dollars and -- -- We talked a lot about the dividends investment income gets hammered here with obamacare that's I think it's bad news across the board for people who make their living in the investment community is going to be very tough course everybody will be looking for better advice -- at the end of the day you might think twice about the stock market him.
You know -- already been through that not too long ago.
Well let's talk further here look into your crystal ball what do you think for 2013 is -- -- -- be -- some people are predicting a great year do you believe that.
Jerry or four years into a bull market years some forget that were up 14%.
Even with the recent sell off.
The S&P is up this year and by the way.
Usually decades have about two pullbacks are too you know -- corrections in them.
Anywhere from five to 10% minimum so in my mind I think 2013.
Is at best flat.
But more likely slightly lower bond buying volatility can't be just -- little bit.
Bullish for our ask goodness are no that's right kind of the year ad you're looking for Staples.
There -- the traditional choices in that category that toothpaste.
-- there's a couple right so again you know thinking.
And you -- to step outside the box for second and just think about what you do.
In your every -- life if cash is tight you're not put out by -- -- a stake -- probably -- -- substitute for -- -- And that's actually what's been going on leader not chicken per pound is about a dollar 33 ground beef.
About three dollars and 33 cents or three jobs oppressed for beef and that's not even the stakes so I think a company like Sanderson Farms SA FM is -- you wanna take a look at.
They're still relatively -- USDA is looking for.
Crop yields -- yields to be on the good on the good side -- value to be good which -- price to be cheap which means check -- will be demanded it's also cheaper alternative like Sanderson Farms is one.
The Sanderson Farms is the big choice -- -- anything else in here gift bag there.
One little one out of you really want to eat this but ATK.
-- systems they're actually ammunition maker.
You know I've been reading local newspapers and after the the horrible Connecticut shooting men and just -- new push for gun laws folks have been going out and buying guns in -- You know I had I was typical happen but I think -- that where the taxes and -- come is on the ammunition I think that's where they're gonna attack at a pick up company like ATK is gonna have a great.
Next couple quarters as people are -- up as much ammunition as possible it sounds scary but at ATK assist.
What you know now if I have to make my investment choices based on what congress might data -- chair -- -- thanks for making the choices for a Saturday and thanks for the commentary appreciate your time at a -- near mr.
You took --