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As the markets all settle in the green with the exception Russell 2000 let's get to today's action we have Scott.
-- or -- is granted investment advisors chief investment officers livestock picked by the way is up.
More than 15%.
Not bad since he told you to -- -- got to listen to what he has offered Scott Bauer.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- That there is nothing negative that can keep this market down.
-- you notice that there's a lot of money that's exited the bond funds.
But a lot of it has not yet dogged equities have somebody would look at that and say see that's that's not a good side for the stock market you -- not so that is a good sign.
-- you know you take the contrary and look at things.
And you see all of this money they had to go somewhere but it didn't come into this market like you said so that these people are cautious people are are overly cautious that -- at -- top.
That usually signals that a rally is going to continue you know you -- that you take the what the public sentiment it's.
And and you usually go the opposite way in the short run -- in on top of that David look at the vick's the last three times that we had to sell off the vick's -- Absolutely bottomed out and about you know twelve -- 1230.
We have not seen that spike since the last time it bottomed out hit it has gone up a little bit but not as quite.
So I always -- think that contrary viewpoint and and really the sentiment of the marketplace the market typically goes against that.
This is stunning the Dow was down a 150.
Points today and look how it's fought back -- and stop.
It just -- -- now that the Dow will have been up for five weeks in a row and here you go you look at that they say they eked out a game so that would stand to reason that you are correct but.
How long does this case didn't feel at some point doesn't little gray start to show around the temples of the bulls.
-- it sure does any of these guys are really frustrated back here I was standing out here good portion of the day and you know especially mid day when we were down a 150 everybody was -- looking for.
Not a big flush but it continued to the downside and then this gradual boost up during the day today a lot of traders got caught short.
I'll tell you the optimism out here is not real high for next week going into all these economic reports yet.
They don't want to fight what's going on because the last couple times they have they've got -- look at him as a perfect okay Scott -- hard.
This market is trading at about fourteen times next year's earnings.
Do you think that that sounds over -- and a lot of people -- that say.
-- that's not an overvaluation there's a lot more room for this market to grow.
Scott sure or go ahead.
-- David I would agree I don't have the market's overvalued at all it.
Yes I don't think it's over -- -- all -- but I think it's the markets in normal ranges.
And we expect to continue that way I understand Scott the other Scott's point about the economic indicators but markets always treated valuations.
And I think what has happened is some of the economic indicators have created volatility but of companies -- -- and -- delivered earnings and that's what people don't pay attention to.
One doctor saying that Scott chairman horn because that you get a lot of nervous -- -- say -- -- -- earnings have not been as good certainly gets their meeting.
But they're not beating -- a lot of the good.
The guidance has been.
Not too exciting but if yeah how you feel was correct where at the sectors where people could really jump in right now and make some money.
-- -- -- Liz I think -- I think technology remains very attractive I think it.
I think two technologies attractive I had energy remains attractive.
There's a lot of bright spots out there every is that less -- -- some of the dividend stocks were issues would be consumer staples and utilities.
But I think for example apple I've never seen -- company go from -- loved you and I have to go to so hated recently.
I'd argue should have been in love does it was put in the past that shouldn't be is disliked as it is right now.
Well Scott sure let's take an example of that that would be apple apple of course is the stock every loves to Haiti used to be a stock that nobody had anything bad to say about.
But we -- got reports today that they're still selling product people like apple products thirty over 31 million iphones much higher than expectations.
So they as long as you can sell product and as long as you have a good product in a good support system.
The stock in the company should be admired no.
Absolutely it's very inexpensive means for the cheapest technology stocks out there and argue as there with a bag -- best brands -- one the highest demands going forward.
People were picking through the report I -- weren't as good but iphones which -- won't fought where is gonna fall for -- came in very strong and we expect to see that continue.
And now you have new product -- -- -- coming out we don't know what they are yet but the company's hinted at that so I think it's a very good entry point for investors.
Scott Bauer I -- I'm looking at all that's happened and -- and now let's say there are so many people on the sidelines.
We just had -- Janet angles of RBC she's got 200 billion in assets under management in the last hour and she said.
That she watches bond fund flows people were pulling money out of bond funds but they -- putting them directly into equity funds so you don't have.
The euphoria that is sometimes necessary for a market top so there's still opportunity here.
Now I I completely agree that's where you know that's what we discussed earlier the money is on the sidelines and typically when you see the big inflows.
And and everybody is just jubilant over the marketplace.
That's where the market you know maybe tends to be like a butter fingered it slips up a little bit.
But we haven't seen that and and there's still so much cash on the sidelines and people are saying you know we're gonna get that 23% pullback and that I'll put -- -- while.
It's not happen and right now.
And -- I would somewhat disagree with the other Scott being in regards to earnings.
Top line numbers were good bottom line numbers you know not so great I would see that say this earnings season has been tepid at best yet.
The market is unbelievably resilience -- -- but Scott Bauer I one thing I would say is about question about whether or not we have too much enthusiasm.
Look what happened with a Amazon.
Amazon actually loses money yesterday not only did they not -- but they lost money and the earnings per share.
And yet the stock was up about 3% today.
That that would send some trepidation in my soul about -- -- on the market is overbought.
I would agree with -- and I wish I would have -- -- yesterday to 98 you know after the earnings report came out I I didn't I agree with me in that instance.
You know who knows why it was up to me I don't it was remarkable but that's just kind of a sense of of what's going on in the general marketplace right here.
Scott bowers got sure we're -- thank you very much gentlemen have a great weekend I appreciate both.
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