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Now you know in -- close talking about how we started the day with at Bank of Japan.
Basically Tokyo saying you know what this one point fives billion a Chilean dollar stimulus program might be tapering.
We talk about tapering here others tapering it's creating bounce -- but that's me an opportunity isn't it.
Well I think that and the Fed's gonna have to -- -- the back in Japan can't keep doing this.
I -- but that's a long term concern I think would what you have here is trading community has been so accustomed.
And Japan just recently gotten gotten accustomed to having this flood of liquidity.
They just terrified of what might happen if this you've -- slows down a little bit.
I think the fears of misplaced but nonetheless you have that set against the value you've got this bouncing back and forth.
On the market -- think you know we have Goldman Sachs coming out saying calling for tapering at the end of the year the thing is everybody at this point should know.
They have to taper they will taper so yet why is it still making the market so edgy because.
Everybody -- have to be anti for the fact that the punch but to -- pulled away at some point.
Everybody knows this and everywhere -- real and the Fed is admitted to it.
The issue here is is how whether the Fed can do it deftly if the Fed moves to suddenly they can push us back into recession that's one -- If they move too slowly there's a lot of inflation risks there -- Mobile risks if the Fed does what Greenspan did some years ago kept yields too low for too long.
So what the markets afraid of is that the Fed will fail to walk that balance line down the middle.
I don't see any reason to doubt them as yet but of course we haven't seen them do it.
And in fact it's probably a little early to even begin to test whether they're gonna do -- the ended the year might be even too soon.
Right and you think that this market has another 20% -- for that exact reason right.
Off of that and the fact that even with a great gains we've seen in the market over the past year and a half two years three years actually.
It still represents superb value.
And that value is one of the reasons why even when people get scared about the central banks think it scared about some.
Big economic news the market tends to want to rise anyway because that value exists it's one of the reasons to traders I'm not saying abandon it.
-- -- the -- as you like now.
Economically sensitive sectors app that lets start with tech because tech really.
One doing all that -- in the beginning we've seen it come back a little bit clearly you think it has room to go.
Well that is where the value is -- industrials consumer discretionary.
There's that's where the value is so if you're gonna try to play this from a long term point of view which we -- -- prefer.
That's what you wanna go that's what you're gonna get the best buys you get a better by if you buy on dips but that's we get the best buys that's where the on the action is going to be in the upside of this market and I believe another 20%.
Is a conservative estimate.
Are we looking at old tech -- an attack are we looking at the Cisco is in the IBMs -- the world or you know the FaceBook Lincoln's.
Well actually we're looking at both in fact I would call the old -- now industrials because that's about what they are this opportunity there.
And so -- but -- also the new checked out not so sure about all the any social media because these things live and die.
In a matter of moments but on -- on -- -- carefully selected basis there's a room in the new tech as well.
-- quickly before -- let you go is it time to short gold.
-- -- -- Well yes we think it is -- short gold for two reasons.
The first days that gold.
Is the quintessential place to hide in if there's value people will be moving out of hiding.
That's the long term thing and if the Fed does its job.
And begins to.
Taper off at the right time.
Then all the inflation fears that a built into gold will start to dissipate and it will suffer from that as well and that will go down in history books as the.
Miracle all of uncle Ben -- has -- thank you very parents.
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