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In the meantime aside about markets they ended the week on a sour note the Dow falling as much as a 170 points to at one point today.
Over that dismal monthly jobs report only 88000 jobs were added that was less than half expected.
And on top of that more people dropped out of the workforce should we expect more of the same in the spring rob Morgan is the chief investment strategist purple.
Rob welcome back to show good to have you here -- So this is this story the last three years right we we have this just bang up start to the year and it all falls apart.
And and I think for different reasons that this this year I think in -- -- this is this is another at a speed of weak economic reports we've -- -- this year I think the culprit is the fact that we -- the tax hikes and -- cuts early in the last year was -- the European crisis but but you're right and and it's very -- very well -- -- troublesome was that 88000.
Jobs -- home on yeah this is -- is at thirteen trillion dollar economy that's all we can -- -- you kidding right right.
Well -- -- some glimmers of hope that you know that the previous two months were revised up there's a chance this number will be revised up to but still on on the surface it's pretty poor pitiful number.
So we're -- about the economy broadly really here but -- -- about markets for a second a lot of people like you.
They look at what's -- market since you know the fact that -- markets attacked frankly -- on fire for coming our minds and say this can't go on for our yeah.
I mean I -- that saying that this is unsustainable and can't have double digit gains every every quarter on the S&P in the down especially in the light of -- -- I think we're probably gonna get more of a sideways to down market over the next still does sit say the spring and the summer.
And I think investors need to be positioned a little bit for that.
So take some money -- table is what it sounds like we're saying -- I.
I haven't gone quite that for you because you know there's still a lot of momentum behind stock of shifting more to the defensive areas so some may be -- -- too -- little more defense here are -- aggressive.
Sell in May and go -- I can make today you know we talk about apple for a second think says.
We've been talking about that company all weeklong really.
And and sort of you know the people who have been brand loyal there are kind of getting killed him whether you either own the stock -- you -- its products.
You're worried about what's going on with apple just this week the Contra find which had a huge.
Slug of apple stocks sold off about 10%.
So far this year Goldman Sachs has taken them off their preferred list.
Can this stock rally -- -- it you know it's at 423 but down from 700.
Change we've headed on our top ten -- we took it off several months ago I do think it's reaching a point where it's cheap enough for just just from just from the standpoint of growth vs the PE ratio it's starting to look very attractive.
But from a technical standpoint I think I think we need to wait a little little while longer on that front but I but it is starting to look.
Very like from about you know grabbing reality is are getting killed by Samsung yeah there's huge pressure to discount their products sure that's really killed their whole brand damage because -- brand image let's face it here is that I have a product in my apple phone -- or in my and my tablet -- that nobody else can -- sure not true anymore.
That you're right but it at some price at some stock price it's cheap enough pay even even if they are here at this point in time of the structure losing that competitive battle.
This is a very cheap stock it's it's probably selling at about ten times earnings date and end in the growth rate.
Even even the diminished growth rate might just.
Buying -- thing of tech you know it's a zero sum game right there's always a big winner and a lot of followers and you have to be on board with the big winner.
-- My hundredth time -- is really categories -- early -- -- I have to be -- constantly changing it not sure what your adjusted in the next category it's fascinating how rob thanks a lot so I married my -- information they appreciate it thank you.
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