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OK I wanna go back to -- on oracle of course we got a lot of news to cover we don't -- -- focus in on just one stock what does this tell you anything that you didn't already know about oracle.
And I think it's been common throughout the entire earnings season may -- one line missed on the top line and it's.
That's been the whole story and -- oracle looks pretty good chart wise but he held with the current market conditions and with the missile probably sell off a little better.
By the way Todd sticking -- -- for a second we just heard John -- financials.
Again to -- terrible day for financials one of the worst hit sectors.
Let's talk about housing for a second because for a while housing was taken off like gangbusters today we had some great housing numbers but hey.
Those housing numbers are looking in the past.
What traders were dealing with today was looking in the future -- -- future rate hikes therefore they -- future problems for housing do you.
And I do -- IC problems in the entire markets in general because we've had some nice rally -- -- very nice vote.
We can't knock at the stock market up moderates that housing is up until thirty or 40% -- we're getting back into.
Now we -- have so we're gonna have to pay the -- -- -- little -- rates -- gonna go higher.
And there's going to be more issues that deal what so -- -- see some pressure and a lot of sectors.
I'm not plugging -- hole and go straight down to zero all I'm saying that the market needs a correction.
We need some selling pressure too great better buying opportunities I wouldn't be surprised if we held here at fifteen -- -- me and got a little little bounce off but -- But overall I just totally disagree with -- and I think that we're going to have -- -- -- that this is not an opportunity to -- this is more updated.
To look to take some profit here ahead and look for spot itself for the market the goal of the lower not -- On -- again here but John look at -- we've had certainly a lot of days we've had multiple triple digit swings but today the worst point drop.
For the Dow and for the S if you that we have had all year we're looking in a major sell off -- this is -- two straight days sell off that we see this activity based on.
Frankly a lot of this number neck in the Fed's statement so does this change your opinion and his -- about where the rat and those buying up.
-- -- it creates uncertainty and the uncertainty means that you're not likely to see multiple expansion so what you're gonna see.
Need to see is another catalyst for stocks go -- so you're gonna see need to see strong revenue growth it sounds like we didn't see that from oracle.
Or you gonna just need to see shareholder friendly actions like dividend increases -- -- that can generate those strong revenue grow.
Or can generate the dividend increases pro stocks will do -- while -- Not that you guys that are like -- I feel like Gilead Sciences at U wanna say Gillick a couple of those names but but it's -- I I just say I I think we're gonna see a pullback not just wondering if we're gonna see a -- -- of companies.
Who think that they're borrowing costs are gonna go up I mean clearly borrowing costs are gonna go up that's what's gonna happen with the the rising rates.
Maybe as these companies hunker down.
They won't be able to put out the dividends that they've been doing over the past six months they won't be able to do do the stock buybacks that they've been -- because they're gonna need.
They're cash because it's gonna be more expensive for them to borrow right.
I agree -- but this monopoly money rally that we had.
Which is all based on cheap money for the big guys.
Is start the ball why is rates rise Dorgan have more trouble making these special offers and trying to increase their dividends and buy back their stock.
So they advantage that they had is slightly slipping away when rates go higher you're already seeing a lot of the interest rates as the stocks.
They're getting creamed in this market never get -- -- couple weeks here.
It's all this is gonna create more of a selling opportunity and I -- I look throw bounced all the 1580.
But I think -- 62 boys and others like opera and I think this is the start of our correction and certainly we think 1540 to 15100 people we start to.
-- I would say it's more than a correction I would say it's a readjustment.
Of the entire financial system and including the economy.
From one that is artificially pumped up by fed giving away cheap money.
The one that is is a little more market oriented than it has been let's face -- even people that think that Bernanke is god on earth.
Say that what he is doing is not natural it's not the natural way that that markets work.
We are in the process of readjusting going back to the -- with these may be very awkward moment and I just.
But -- may be good in the end they may be.
Then it was nice -- lasted.
If if you were an on this -- I don't cause.
I thank you -- -- thought I was done and thank you -- -- -- we're --
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