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Welcome back live -- from the Raymond James trading floor this is the fixed income everything from Muni bonds to treasurys stood.
Big -- great corporate bonds right here at an early in the morning when that jobs number came out here in Saint Petersburg.
They sought immediate selling big sell programs in their equities department on the fifth floor.
The big move but then around 11 AM the buyers came in and when you look at the lower and ticker numbers here on our screen.
That indicates to you that those numbers that we see are nowhere near as bad as they were one point the Dow was down a 172 points.
But it was a scary day certainly for a lot of the retail investors who may have just recently started to get into the market so the question is does a number of what what we thought with a march jobs report.
Does that -- rail.
-- -- very strong bull market rally we've seen or does the stampede just take a couple of days of a breather.
And continue back and start moving and equities again.
This guy has an opinion he is Jeff -- the -- Investment strategist here Raymond James and a long time.
Market participants and -- worked on trading floors in the 1970s -- -- -- work for EF -- as well what you've been around the block I've been around -- and does this part of the street get dark and scary for you on a day like this it's pretty sunny out in Florida right now.
You say -- jobs report.
Was the initial shock but if you purse the numbers what she found his.
With the revisions that Paul talked about last month.
Would still created about a 178000.
Jobs over the past two months that ain't so bad it's not as good as it should be but it ain't so bad.
I think the streak came to realization of that.
We took the S&P down to the march 19 reaction -- -- about 1539.
We did the same thing this morning it's a logical place -- to -- and hold and you see where the S&P closed 1553.
Not to -- it all mean well off those lows of the session indeed.
So people who immediately sold everything mistake.
Well I think I think the retail public has to a large degree miss this whole rally.
Because they didn't manage the risk when they should have back when the Dow theory sell signal took place in October of 2007.
We call the bottom in march of 09 have been very constructive on stocks ever since we did get cautious in the spring of the past three years.
And with the mid cycle slowdown.
Which is what I think -- -- right now I think that was reflective of this week's economics -- This that we were picking jett's brain and we pulled out a whole bunch of stock ideas we'll get to those -- 12 but let's stay macro first second.
If you're talking to the retail investor was too scared data data get back him the best way to invest and give me -- reason why it's the what best way to -- Well -- I've been telling retail investor for the past six months seated need to decide how much you wanna commit to equities.
Or commit to mutual funds if that were the 200000 dollars you break it -- four tranches of 25000 dollars a -- you commit the first props today.
And he -- a point in the future Weathers three weeks or six weeks in the future where you -- commit the second tranche.
And then the third of the -- -- -- dollar cost averaging and looks at Indy don't have a 100000.
In -- kitty if they just do it monthly auto debit from their checks.
Well give me a step that makes me feel better about that -- you're piling it on good days and bad.
-- he bought an S&P index fund at the actually on the Dow theory sell signal.
In November of 07 and just held it to march of 09 you were down roughly 58%.
But if you dollar cost average every month as we came into the beginning of 2011 you were actually up 9%.
Over that time okay there you can't just be in the market has really what you're saying let's get to your stock picks right now you're bullish on the housing sector but in a different way to names and that -- which is a -- Mid America Apartment Communities.
And YRYAN which is Rainier.
-- -- -- -- -- We -- Called the bottom in the housing market are our real estate.
Team which is one of the best in the country headed -- Paul courier.
And they downgraded the housing stocks here few months ago because -- they out ran their fundamentals quite frankly in the short run.
Second derivative play on that -- -- timberlands announced two two point eight million.
Acres of timber MAA is a played on that apartment reits if you will you've got 23.
Million or so.
Kids I would column nineteen to 34 year -- -- the either doubled or tripled up with roommates.
Or living home with their parents as the economy resets look at this one became part of the work that's what what's the dividend on the senate -- that's 44% contained Walgreen has your next -- for the consumer out there.
We were buying CVS.
My -- status the good Reynard as he does on long -- We were fine and the mid twenties on Obama care with the thought that it would drive more foot traffic into the store -- now -- and the well the stocks double CBS's doubles so we've taken some money at a CVS.
And have bought wal greens because there.
They're acquisition was misunderstood they bought alliance -- -- over and European traveling all right well -- -- -- -- every single with you know facial moisturizer and make -- gotta love that -- that position so -- think what's once the synergy -- place you have north of five dollars a share in earnings for our last pick one line on Callaway Golf because I look at that I say.
Wealthy people play golf is really time for discretionary income to be port and the demographics -- -- going that way with the rumors going away from tennis is starting to play golf if you will.
And they've got a new CEO and not find it appropriate that a golf company as a CEO with the first named chip makes sense to me up and he -- heating create that he took Adams golf which was especially golf club manufacturer did wonderful things with the he's a new CEO at that ELY.
-- you -- for final four Michigan -- somewhat diminishing our -- that is a Wolverine could to say is pleasure jealously.
And I have David's sorry that you're not here with the -- as well but.
-- back common he's looking at all of this as well and -- you know what David she did not think this jobs number was quote awful at all.
He's -- a stumbling block was absolutely I love his wal greens picked by the way take some money at a CVS they've already had to run up.
Move within a war he's too young to have have done the 87 prediction I just had trouble believing that.
It was Tony six years ago -- -- now like sixteen are at Liz thank you very we're gonna see.
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