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What Bryant over the past six months nobody's been disappointed with housing -- been little blips downward for housing but the general trend has just been skyrocketing.
Coming off of the day historic lows we've been -- If if I didn't get end up until now did I miss it did I miss there were there is they're still war movement on the upside to go for housing.
I think there isn't as investor you have to go over the fact just because the stock has risen significantly you can't get in anymore if you look at the homebuilding results this week whole team -- -- are important.
Fact is the backlog -- are so strong and what are backlogs providing.
For me they're like Teddy bears directly provide some comfort OK I think they're so strong so we're bus that they can keep their -- down something like appalled you know violent -- to well.
Because nobody necessarily expects.
Then to keep their costs down wanna backlog is so high.
But you also like as -- we said Toll Brothers which is up 32% over the past year.
-- is a Little Richard 24 but what do you think Chris about the housing market do you feel as positive about it.
We feel that the Fed is still going to be accommodative and that just pumping money into the system so the housing market probably still -- -- very long last cycle.
Going forty it's not where we.
You know spend a lot of our time but it should continue to give us some -- -- the economy.
We're also looking at cyclicals.
Oil and gas services we thinker and a good position.
Go into the second half of the year we've seen some those results this week and I think it's setting up and that's all play on just you know a slower growth economy by.
Not a out recession that you know.
Do I think -- pat.
There have been over in Europe as a matter -- all right -- superior by the way is one of your energy picks that say yeah energy drilling equipment company.
But Chris we've had that we haven't more earnings to come but we've had the bulk of a lot of that the big earnings stories whether it's Amazon or apple or whatever.
No more real surprise what's your general -- on what we've seen so far from the earning season.
I think what we've seen at least a lot technologies -- it's not as bad as it.
Would have been feared.
I think we are setting up for pretty good second half we are coming into the that the slower summer months where -- -- -- go away that might have already happened here Naples.
But again I wouldn't be fighting the Fed they're gonna be accommodative Japan -- accommodative.
And if we get any surprises that Europe.
I think we should be -- pretty good growth.
Market in that -- -- second half of the year.
Phil but -- there on the floor of the CME he would what do you think is is the most surprising trade that you've seen lately -- anything changed over the past couple of weeks.
Well I mean what you know one of the most surprising trades was the gold and silver fall and I mean there -- you know they came out later and they said that -- Cyprus didn't sell on the other -- it was somebody else out there selling gold and it was -- it was the bids being -- and the market really just going into a tailspin.
I thought that that was one of the most surprising thing especially with -- -- being its accommodative.
Something that's holding out really well you're just talking about the housing market is copper still holding three dollars that we traded up pretty good here today we've rebounded quite nicely every house has wondered how the proper and in every new house.
It also lumber those are two markets that not a lot of traders watch in the could be a big mover especially if you start to -- -- recovery in housing.
Really just started heated up as the summer builds on our -- tech -- People haven't focusing because have been looking at Amazon and apple over the past week or so -- eBay and Brian that's -- your pixel -- I think that it hasn't had held onto -- after earning season and just go look at currencies and I think -- very disappointed by an adept at behind the dip -- eBay they're spirits and the PayPal business they're.
Actually becoming a play on emerging markets.
And I think that's very -- way to becoming a played a -- Mardy are exposing itself more through PayPal or that gets pregnant -- taking the core eBay business and nobody realizes it's not really that exposing American market so when I sat down with the team they said there's going to take back core business.
Specifically with web personalization initiatives and going -- that's I think that's very important.
I -- earnings season that in my -- has not been very well every earnings report has come with a disclaimer.
-- David already mentioned superior but you've got form factor and since there and both of those are down over the past year.
That doesn't concern us because we don't like when people come on and say -- at the top certainly but.
It it just appears that these two names or something for example one of them I think it's this there has 17% of the float -- so you've got the short circling around like sharks here.
It is still like it.
-- hit it's close to 52 week low here it's a play on the optical.
Spend that everybody's been waiting for AT&T and Verizon have large -- -- budgets out there the orders just haven't come yet.
So I know that the other -- is mentioned as disappointing dirty it might have been more disappointed for larger cap companies.
I think earnings expectations within small caps were loaded begin -- and I think that was where they sold off going into the earnings season.
So going forward.
You know it was.
-- surprise and in certain areas like going for I think there's a lot of benefit the small cap names Brian we've talked about.
Europe tangentially but let's focus in on it just for second here -- we know that it is going down that it is now.
Growing a negative -- not growing it's losing money is that gonna continue and how much of a drag a weapon in the US all Europe -- you start worn out companies came to the first quarter were not expecting very much so to -- company after company 3M.
He had underperformed expectations very disturbing side and investors those companies that are -- underperform over the next couple months if for example we continue get negative PMI data.
Good to see all of you.
Bryant -- a Chris wrestler and -- we're gonna see a couple minutes when the S -- futures close thanks guys have a good weekend.
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