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Centerstate Bank CIO Joe Keating, Zacks.com Senior Equity Strategist Jared Levy, Sierra Investment Management’s David Wright and FBN’s Charles Pay...
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Jared Levy what are they saying about this market out of Chicago.
Well you know that.
You can hear -- back and -- depicted definitely how little bit more than normal today.
I will say this will break out the champagne but not Saddam tonight -- break it out little bombs and I think that a lot of lot of traders here are looking at the S&P 500.
A much broader index I will say this.
Interesting statistic it's been 1004.
Trading days since March ninth 2009.
With a -- -- -- -- loads a gain of a hundred.
And 18% we've seen since that time so again maybe a little delivering to celebrate but like Charles said.
You know -- -- the quality stocks don't get too excited and like he's got to doing back here.
We're still treading lightly we have another too -- and a quarter two and a half percent to go into the -- and he reaches its all time high.
That's it you know what what.
I stay here from Joseph Keating right now until what are you telling people who say do you what should not be buying right now in the last hour we have built Liechtenstein is a very well -- -- has said.
I would be selling today not everything but he really doesn't like stocks right now because he feels this is an entirely up that inflated trade.
But I know you don't feel exactly that way certainly so what are you buying right now.
Well Liz what we as do we know it's a long time and we where we're dividend buyer sell.
So -- -- about two big brand name companies and a child talked about prosperity around the globe -- -- Colgate-Palmolive toothpaste toothbrushes.
Detergent so yeah I've -- I just -- that they selling 200 countries around the world with a two point 6% dividend yield.
On the other end of the spectrum let's -- -- as cyclical company that pays a dividend like Dow Chemical.
The Dow Chemical has a four point 3% dividend yield obviously chemicals plastics and agricultural products.
Both of them one has its only 5% of their sales overseas one has 66% of their sales overseas too great places to be sold.
David -- -- -- -- this year for retirement fund let me emphasize the word retarded or -- -- lot of folks either -- retirement or close to retirement were saying -- why wanna get in at this level.
Don't I -- little safer -- it's there there's probably a greater chance now of having a top off rather than having much more room to grow here.
What would you tell these folks that's exactly.
I think it's prudent to be seeing yourself.
Which direction will the next 15% move being.
Will it be up or will it be down.
A lot of metrics suggest that everybody's in that can get in.
Surveys of investors surveys of advisors.
Mutual fund cash holdings are at an all time record low.
-- -- look like a -- a few weeks ago it's somewhat.
Coincident with this particular episode.
The dollar weighted put call ratio is at a record low so you're seeing a lot of exuberance I would agree with your summary of what -- and -- -- This is all Jews by the Fed had.
And it's looking very talking to us so you don't have to sell but at least have close stops.
Let me ask Charles -- something -- haven't -- spot our viewers to know something I have.
Massive respect for Charles -- stock picking abilities.
You told me something in the hallway Fox Business the other week you said -- My clients started asking to be into the market what about late November early December even though there was concerned about is that something's happening -- you called the dollar us dollar store -- a couple of weeks ago.
What do you seen now is there a trend that you're picking up it's starting to dip.
Bella -- you know what the people are still coming in and that that trend that I saw.
The two examples one woman came back came onto my service who lost eight million dollars in 2007.
She's -- he would never play the market again.
About a few days later broker came on he said Charles I hate this market but yes.
All of my clients are big stuff big -- come and they hate me and it only be so I gotta get into this though some people are being pulled into this market.
Kicking and screaming but some people like it are coming back what I do worry about our people -- missed the entire run up.
Try to jump into the market now we get a little bit of a correction maybe it's that 15% correction so what does mention.
And then they give up -- it again I think ultimately I look at income statements -- -- -- balance sheets and I look at cash flow.
And I think this rally is justified without the bed I think ultimately that that money will or into this market and that will give very frothy but it's not brought that just yet.
Joseph what about the retail investor.
It's besides those that -- Charles deals with the were burned once and -- We're we're willing to get back in aren't they still very skittish -- there's still.
So much money -- the -- what's it gonna take to bring that money in from the retail investor.
Well I think investors are looking at the environment today -- -- as being maybe a fair amount safer than they've -- has been any time why does that why would they say it's safer now.
Well since -- what things are behind us the elections behind us the bush tax cuts have been made permanent for 99%.
Of households that's that's huge in terms of of all.
Economic policy so I think investors are feeling better I think there's the -- -- used the term before Black Swan event I think we're less fearful of the being a Black Swan event.
Occurring and so given the financial repression from the Fed.
Really in order to earn income at a rate above the rate of inflation you've got to own common stocks or pipeline companies today -- -- thing you can do.
Gentleman that was terrific stuff lives where is gonna stay on the -- -- workforce thank you to all David Wright Jo Keating.
Charles and of course Jared Levy on the floor the CME in coming up Watson.
