Pete, its the least volatile september ever you guys are going to dive into that in a bit over at the telestrator to show us exactly how. But man, the stocks have been steady. Yeah. And i think part of the story, scott, is just the fact that you mentioned steady we talked about rotation those all feed into this i heard bob pisani talking about lack of volumes. But its not a lack of volumes in the derivatives world or options world where we are consistently trading close to just under 17 million contracts a day. This used to be a number in 2011 that was closer to 14 million a day. It started to grow we peaked out at 18 million and here we are trading just under 17 million a day so there is volume and there is volume in the derivatives markets and other parts of the market unfortunatelwere not seeing h of it at the new york buthink the healthiness of this rally oat least this sustained area of near these highs, establishing new highs almost daily has been because it has been a healthy rotation from sector to sector to sector. So i want to show you a chart that i think will blow your mind when you look at it and its courtesy of josh and Michael Batnick who sent this to him and he posted it which shows that we have never had a full year with the s p 500 max drawdown as small as we have in 2017, which is all the way on the righthand side of that wall in orange there. That is how small the max drawdown in the s p has been this year. A smidge more, josh, than 3 if it finishes the year this way, it will be the smallest ever all the way back to 1914. Two things. If you think i sound smart on the air, its because of Michael Batnick, my director of research but the second thing is, you know, people will point at that and say, well, we have to get a mean reversion sooner or later it has to show up and maybe. I think its important to understand the only time weve ever come close to this within seven basis points in fact is 1995 i dont think i need to tell you that over the next five years the nasdaq went from 800 to 5000 and there was almost no volatility for years and years and years after that moment 23 years ago. , yeah, its abnormal. Shocked that we get bouts ofe volatility but just because we get to these extreme readings, that doesnt mean, all right, take everything off. Were bound to see, you know, a maelstrom coming our way any minute the world doesnt work that way. It just doesnt. I wouldnt take this as a signal that, oh look, well hit black every time, its going to be red on the next spin its just not that simple. If we could get the chart back up if we could, please. Im not going to tell you i know what this what it means, whether you need it says theres some impending correction or pullback or whatever but what it says at the very least, joe, is that this has been an incredibly steady year for stocks in the face of things that have happened that should have caused or would have caused in prior cycles more volatility than weve seen. Absolutely. And i think september is really the proxy for the entire year when you think about all the challenges weve had this yore coming into september, there was a variety of lists from a Government Shutdown to concerns about the federal reserve, obviously what was going on in north korea. Then you come into the month and if i were to say to you, okay, were going to lose technology in the month of september. Its basically going to go flat. You would have obvious concern for the marketplace. Yet, here comes the russell up 5 , here comes energy up 8 , here comes the financials up 3 . Lets not forget we began the month worried about the u. S. Tenyearreaking below 2 it fell to 2. 03 and thats when the s p started to lift. One other factor that we should remember is that when the year started, it had come up a very surprising election result and there were many investors who were concerned about what the Trump Administration would bring and had taken money off the table. So through the course of this year, weve had good quarter after good quarter, decent earnings where people who have not been fully invested or even close to fully invested have had to put some money back in the market, even this week, because they dont want to be left behind. Does that chart we put up make you nervous or not . The one that shows such a small drawdown every day makes me nervous in the market but when you look at that and youre like, wow, i didnt realize weve only been down at the worst point a little more than 3 . Are you nervous about where we are . I think about that. Or more confident no, not the marketplace and the market remain resilient in the face of headline after headline that could have caused a bigger pullback in stocks. 455 days weve gone without a 5 decline in the market so yes, of course. Does it mean that the earnings in the next quarter or two are going to drop off the table . It doesnt so i dont worry about that. I just nto temper this a little bit by pointing out, yes, youve had volatility in large cap stocks for the duration of this year so far were not even into october, which historically has had some major volatile events. But for a lot of stocks, even though you havent had a lot of volatility, youve really done nothing. In the small cap breakout this month, its startling because of how long its been since theres been anything to write home about in small cap so a 5. 8 gain in the russell 2000 just in the month of september. We were flat on the year going into that. In fact we were flat for ten months you had a vertical move after the election and then you had this collection of 2,000 stocks do essentially nothing for a year. It looks like the best month for the russell. Actually you have to go back to november of 2011 and thats coming off a crash they did about 11 that month. Bigger picture, what that says to you is all these people talking about, oh, the market has already had its run, no. You had thousands of stocks do almost nothing so yeah, we havent had a lot of volatility we also, though, havent had this euphoria where everything goes up. Maybe we get into that phase, but you cant say that thats been the case if youre actually looking at price. So how about this, youve got the kbe, okay, looking for its tenth positive day in a row. The kre, which focuses on regional banks is looking for its tenth positive day in a row. Semi conductors coming off the best day since november of 16 we sent jon and pete over to the wall to give us a look at the lack of volatility im sure you guys have comments on the sectors that i just mentioned as well, but this exactly tells what the volatility has done or lack thereof. Its down 30 year to date. Yeah. I mean thats the 2017 graph, judge, of the vix, the volatility metric for the s p 500. Now you take a look at that and say, well, there are some spikes in there, but the range is basically 5 or 6 points from the trough to the peak you compare that and we just randomly picked a couple dates we picked 2006 and 2002. You see this now and that blou line, which is not finished because the year is not finished yet is the vix this year you see that red line, at least to me it looks red, im color blind, but the red is 2006, and you see much bigger moves. This is all on the same scale. Then you see 2002, judge youre moving from basically 17 up to 45 in 2002 so huge range. Ill tell you in a minute the reason i think that we have that, but, pete, what does this tell you its really interesting to look at this but lets look at 2017 i think the very important thing about what were looking in that volatility itself for the volatility of the s p 500 and the vix, whats interesting about that is the duration of thats moves, scott. When you get those spikes, those occasional spikes to the upside and you start looking at them, look at how long this lasts. Not very long at all not long at all. And then suddenly we see this complete start to fall apart again and actually yesterday closing back below 10. Whats thats telling you is, yes, there are news events out there, north korea or anything else you want to throw at it, but the market digests it faster now than i think it ever has been and thats exactly what were talking about right now when we look at the vix. Just a quick one for you here take a guess how many etfs that were in 2002 im not demonizing etfs. Take a guess how many. 110. Now there are over 1800 etfs volume in 2002 as a dollar value of the market traded was under 2 now its over 30 . So when youve got those concentrations like that, scott, its not as surprising to see it compress volatility like we have over the past several years. So why i guess the question, why such little volatility part of the story is an incentive change in the Wealth Management and investing industry thats pushed people to become longer term in nature, even post crisis especially, to do a lot less trading and, you know, when youve got indexing movement. Now inxes are 38 of all the money thats managed in the country, its an extraordinary number back in 1995, the period i was just referencing with very low volatility, understand that the van guard 500 index fund, which was the largest at that time, thats preetf was only 12 million in assets. Now it takes in 12 billion every two weeks. So youve got people behaving differently and people who sit in my chair, even 15 years ago we were Commission Based we were transacting every day for clients. Its a feebased world theres much less trading going on and so i think you have to consider that is one big part of the story. The other part of the story is a lot of activity has moved to the options world which pete and jon know very well. Giddy up. So youre going to have different period different regimes of market volatility but then youll have these secular movements that are glacial, theyre hard to see happen in realtime, but when you look over years an decades, theres been a tremendous sea change in the way people think about their investing in their accounts and its not changing. More of the trading that is being done now is being done quantitatively so theyre not concerned about missiles flying over japan, theyre not concerned about Government Shutdowns, theyre measuring things within the market and making decisions based on mean reversion and its all quantitatively driven. I think whats important when you listen to what pete and jon are talking about, and josh mentioned before emotion generally if youre looking for real scenario of extreme caion,t comes in a powerbolic move and comes in a move when the market spikes higher and maybe the passage of tax cuts and tax reform is the enthusiasm where everyone comes into the market. And you get the thrust higher and you actually have volatility rise, which has happened historically in the past thats the beginning of the powerbolic move. Were not close to that right now when youre measuring emotion in the marketplace. But one point about volatility, which is not not to belittle the fact that we are all aware that volatility as measured the way we do it is down if you look at the entire s p, 128 of the 500 names in the s p are down 15 from their 52week high at this point so its not as if all the stocks have been behaving well. Theres been a movement. Its just that the market has been grinding higher but if youre looking for ideas and where is there a place we could put money to work, weve been able to find these places to buy because they dont all move at the same time. Its just the index broadly when we speak about the vix is more than just looking at and the reason we see derivatives jump, scott, i referenced it but we were talking about 9 million per day used to be normal in the 2000s the reason its jumped as much as it has post financial crisis, leverage it offers people leverage. The options still give people leverage and thats why we see so much. And the right strategy continues to be if youre worried to be diversified. It does not matter what sector, you have to own all the sectors because youre going to see the rotation going in and out of the sectors. When you look at Asset Classes, whether its equities here in the u. S. , emerging market, taxable fixed income, corporate bonds, protect yourself if youre a longer term investor, own all the Asset Classes and be diversified. Speaker ryan hold his First Press Conference since they released the tax reform proposal we have more coming on the heels of paul ryans News Conference today. Reporter the next step in tax reform is getting a budget done i asked the speaker whether he believes a tax package should be deficit neutral. He said that it has to be in order to comply with the rules theyre using in order to pass this legislation an hes entirely right, but thats a different tack than the senate appears to be taking they have reached a tentative deal for a 1. 5 trillion tax cut so well see which way this goes speaker ryan also talked about why the Capital Gains tax was not addressed in this framework. Well, its one of the casualties of the Health Care Law not getting passed as some of you probably know how the numbers work, not getting the Health Care Bill passed baked into the baseline that 3. 8 tax thats like 170 billion so its all about, you know, fiscal space what we wanted to really keep our focus on was getting rates down we think rates are a critical thing with growth and international competitiveness. We want to make sure we had a middle class tax cut so you just cant do everything you want to do. Reporter ryan also talked about the importance of lowering the rate for passthrough businesses hes going to be headed out to pennsylvania and expected to talk a little bit more about that as well later on today. Back over to you. Just quickly, gary cohn, the National Economic director, was on our Network Earlier today and it seems the white house is taking a more, if you will, dynamic view of how to pay for and how to score this thing. Mr. Cohn saying we think we can pay for the entire tax cut through growth over the cycle. Thats pretty clear about how they think they can pay for it. Reporter the rules of the senate are also quite clear in that you cannot use dynamic scoring in ordero ke the numbers work outside of that tenyear budget window, so they will have to find a way to ensure that this does not add to the deficit after ten years if they want to use these special rules to pass tax reform. All right, thanks so much so, karen, how much weight are you putting on this tax reform proposal as to where the markets go from here well, its nice that we finally saw something. Its not that much and the anticipation nine pages is better than one. Well, but there wasnt a lot that was very specific, but you could read those pages very quickly. They were not too detailed but at least the market ha something to anticipate and thats what the market does. Investors are looking for something about the future, and if you and people have talked about what this means to earnings, how much a tax cut can result in higher numbers to the s p and so we could take the s p earnings number up 10 or 6 or 7 it gives it some head room, which is nice than just saying, oh, gosh, we need the market multiple to go from 17 to 18 times next year, which would be tough. Its a long way for a law, theres not even a bill so its going to take some time. One of the things that gets people pretty excited about it, beyond just the idea that wed all like to pay less taxes, is that the repatriation part of this, scott, when there is that 3 trillion overseas that could be brought back, some of it will be put to work in this country youreeeinthe dollar react to that. Youre seeing the euro react to that and i think that continues for weeks from here. Not on the same percentage that weve seen over the last two days, but i do think it does. This brings it full circle back to the chart we showed you at the top of the show as to why youve had such a steady run, right . The market is at least somewhat and investors are somewhat anticipating some kind of tax reform or at least at the very least tax cuts you dont want to get too negative ahead of Something Like that which could come into the market. No, i listen, a lot of what weve expected from fiscal policy has given investors disappointment so far year to date now, this very well may pass and in looking at it, i still think the removal of the state and local taxes, i think thats going to be a problem to get it passed but even if we do pass it and lets say it is met with optimism, behind it you still have the possibility for an infrastructure spend so theres been these series of fiscal policy initiatives that the market has expected. Its very difficult to craft a portfolio or to make trades around them except maybe in financials, because thats the one that seems to have the most sensitivity. Markets, as you can see, the dow is up 52, s p is up 2. 5. Highs of the day for stocks. Were just Getting Started heres what else is coming up. Next, the tobacco stock thats back in style according to one top wall street firm see which company now sits high on Goldman Sachs conviction buy list. And the fast food stock and dow component thats up 36 in the year getting a key upgrade today. Do you want to buy mcdonalds or is the run coming to an end . Before the break, the techie tfxlk is up 20 year to date nine months into the year. Thats happened five times since 2010 our partners at kensho show when it does, level 3, juniper and f 5 networks are the top ekrformers over the next two wes. For more, go to cnbc. Com kensho. I count on my dell Small Business advisor for tech advice. With one phone call, i get products that suit my needs and i get back to business. They save us from gettingones . Lost, getting hungry, and getting tired of places like this. Phones changed everything shouldnt the way pay for them change too . Introducing xfinity mobile. Where you can pay for data by the gig, and share it across all of your lines. No one else lets you do that. See how much you can save when you pay by the gig. Xfinity mobile. Its a new kind of network designed to save you money. Call, visit, or go to xfinitymobile. Com. Welcome back to halftime. Goldman sachs adding Philip Morris to its conviction buy list are we good . Are we all on the same program i tdont know if that came through or not. Philip morris. This is not a social hour for you too. I like the call i like the management changes. I like the way weve seen a pullback its going down to joshs favorite moving average, the 200 day, and holding right above it. I like it. I think its an excellent call. Karen. I think its an example of dont bet against the sin stocks this has been one of the greatest stocks in the s p over the last ten years. You wont buy it, though. No, we dont buy it because we dont own them. We dont own cigarette stocks at our company. But if you had owned it, any form of it, fantastic. Fantastic stock. And its undeniable that youve got a builtin base of people that need your product theyre putting a lot of money in vapes. Do you want to hit this vape real quick not a chance. Theyre not in love by any stretch with the staples in general. I think this companys product should be outlawed joe is right its fallen into that rising 200 and will probably find support there. I think you can look at the yield on this one and get a sense of where the buys historically come in theres a certain yield below which it just doesnt trade because people prize a name like this with a dividend i dont like it. I think there are better ways to earn a dividend of greater value without investing in Something Like this. I think smoking trends in the u. S. Are rolling over. I dont think that everyone who quits smoking becomes a vape purchaser. The data certainly doesnt indicate that. Granted, theres bigger smoking populations elsewhere, its not only a u. S. Thing, but just for me i think there are better places to be and so i would just what about the staples in general . Can i talk about this one for a second i disagree completely with josh because of the fact of the smokefreeport folio that they have got its not about the people flipping over from smoking to those going to the smokefree world. This is attacking exactly what category do you talk about every single day the millenials whos going after the millenials this is a millenial play when you think about the smokefree world, that is who youre going after, right . Im not saying this is good, better, indifferent. I obviously understand what youre saying, you dont want to invest in this kind of a company. But as a company and why goldma sachs has it on the buy list is because of the fact that they see exactly whats going on. Theyre moving with the function of whats happening right now. Smokefree portfolio we talk about innovation all the time this is the innovation part of the smoking world. Sin stocks. Dude, if we could if we could get rid of smokefree or including smoke, whatever, just get rid of all of it, there would be no Health Care Debate you wouldnt believe the size chunk that these companies are taking out of the the amount of money that has to be spent on health care. So i dont like anything about it. Thats a different topic altogether. I dont agree that future generations are going to be looking for smokefree Portfolio Products from Philip Morris. I whidont see it. Were going to see what the Options Market is telling jon and pete about a pharma name and a teleconstock coming up next. First, though, we mentioned s p right around the highs of the day. There it is. Materialarleinthwas e adg e y today. Were back in two minutes. Is the monolithic view of emerging markets obsolete . At pgim, we see alpa in the trends, driving specific sectors of out performance. Where a rising middle class powers a booming auto industry. A leap into the digital era draws youthful populations to mobile banking and ecommerce. Trade and travel surge between emerging markets. Everyday our 1,100 investment professionals around the world search out opportunities for alpha. Partner with pgim, the Global Investment management businesses of prudential. Were drowning in information. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. An iick it . Y can can i kick it . Yes you can can i kick it . Yes you can well im gone thithis is the new new york. E . Think again. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. Ny. Gov were back on halftime. The najarian brothers have made their way to the telestrator for a look at whats moving in the opons market today doc, youre up first. Blackberry, judge i dont know if you listened to the ceo, mr. Chen, when he was talking about this fantastic numbers. The stock made a very nice move today. A lot of people came in, i think its basically the leverage pete talked about at the top of the show theyre coming in buying the ten calls, so its slightly in the money. It went deeper in the money as the stock went to about 10. 60 and they bought the november ten calls so are giving themselves basically about 45 days to be right that the stock continues to go higher instead of investing at 10 and committing that to the stock, theyre basically buying these calls for 80 and 90 cents, judge. That gives them a lot of upside for just a little bit of money i like it. Ill probably be in these two or three weeks. That stock getting a big bump today. What about you, pete going over to jim cramers favorite names, bristol myers. If we actually trestretch that chart out, youll see how volatile it can be its had huge runs up and huge falls as well. Look at this nice move this has made this really sort of started, scott, when they made a big acquisition in the oncology world, therapeutics. Theyre always looking for growth unfortunately a lot of time theyre having to go outside their own company for growth theyre buying the november calls. Very aggssively bought 70 cents is extly where they were buying these when they started hitting. 69, 71 cents 70 as an average thats a big jump and thats going to push the stock through the 52week highs if it can do that here we are already around 63 a share, a little bit more now but around that 63. These are highs. This is expecting this thing in the next month to explode even higher im in these calls and will be in there probably for about a month. We shall we how this all works out. Ill send it over to sue haira for the latest headlines for us. Heres whats happening at this hour, everyone. Irans foreign minister telling al jazeera tv that iran will abandon the nuclear deal it reached with six major powers if the u. S. Decides to withdraw from that. President trump has called the deal an embarrassment. The governor of puerto rico and the National Administrator of fema say every effort is being taken to help the people of puerto rico in the wake of the recent hurricanes. They spoke to reporters in san juan this team will make sure that we can get food, water, provisions to the people of puerto rico, that we can reestablish capabilities, that we can get assets on the ground so that we can maintain or enhance our efforts. And a good deed to tell you about. Houston texans Quarterback Deshaun Watson surprising three stadium cafeteria workers who lost their homes and their cars to hurricane harvey. He gave them the paycheck from his first nfl game each of the three checks are estimated to be worth about 9,000 thats the news update this hour over to Morgan Brennan with whats coming up on power lunch. Sue, thanks coming up on power lunch, after three years of fighting, accusations of fraud, the s. E. C. Dismissed charges against famed investor lynn tilton. She joins us in an exclusive interview. Plus the ceo of American Airlines massive delays from hurricanes and increasing competition can the airline sustain its profitability . And we bite into a 2,000 pizza. It never looked so delicious all that and much more coming up in about 30 minutes. Scott, back over to you. We look forward to that and the pizza. Five more stocks coming up maybe more too, i dont know you never know. Thats the thing about this show. Were back after this miss the blitz, the call of the day or unusual activity with the najarian brothers . No problem just go cnbc. Com halftime to see the moves, the trades. Whos winning and whos losing plus breaking news and analysis of all t theop stories cnbc. Com halftimereport. [pony neighing] what . Hey gary. Oh. Whats with the dogsized horse . Im crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. Isnt that right warren . Well, you could get support from thinkorswims inapp chat. It lets you chat and share your screen directly with a live person right from the app, so you dont need a comfort pony. Oh, so what about my motivational meerkat . Inapp chat on thinkorswim. Only at td ameritrade. Time for the blitz doc, its yours. This has traded double normal volume because of some guidance issues, the stock actually opened lower even though they boat on top line and sales as well but guidance took them down people just came scrambling back in ran it to the 52week high and now its kind of bled back off basically to almost unchanged on the day. Roku, joey, went public today. Yes, quite the move above 20 bucks right now not necessarily sure if this is something i want to go in and buy today. I want to hear about the earnings call. The business is being transformed from hardware stream more to licensing and more toward ad sales. Keep in mind alphabet, apple will all come into this space as well. Pete, what about conag today . They bead on the top and bottom and thats why were seeing the stock up. When you look at the revenue number and look at the sales, its actually down about 5 from last year, so they did lower the bar. The margins are improving. The stock is up a little bit its down 16 this year for a reason i would stay away. Big approval for abbott labs . An obbott is up 3 today glucose monitoring, you dont have to get a finger prick to test your glucose level which is a positive move in this space. We think this has upside to a billion dollars of revenue stock can trade at a premium if they can get the st. Jude acquisition integrated and that could be a 65 stock. And dexcom, the other side of that one, they just got annihilated on this. Sorry about that great for abbott mcdonalds, josh, got upgraded to a buy. I dont know, that feel late this stock hasad a gd run. Yeah. No, listen, its up a lot, but theyre talking about paying 16. 5 times 2018 numbers so its not outrageous or unreasonable to see this in the 180s. This stock has made fools of people who have said too far too fast now for the last couple of years since the new ceo came in and even look at the price option this week. Technicians have a saying from failed moves come fast moves the stock had held the 50day like a champ all summer long, broke below it a couple days ago. You had a lot of people probably say thats it, im out or im putting on shorts. Ripped right above today, completely clowned them all. This is one of the best oneday performances for mcdonalds in a long time. And i think, you know, as it makes new highs, its going to be very hard to fight off new bulls who are still coming into the story. Gopro unveiling a new camera today at its event in san francisco. Our josh lipton is live there and the stock is moving on this. Reporter scott, we are at this gopro launch event and the company did just unveil its new flagship phone hero 6 black goes on sale today worldwide. The price tag, 499. Part of whats different about this camera, it has this new custom designed processor. Gopro says thats going to mean improved image quality, stabilization, low light performance. You take a look at that stock, scott, and it has quietly climbed about 30 year to date although obviously still well off its alltime high of 98 that it hit in the fall of 2014. For more on this camera, what it means for the company, ill be chatting with the gopro ceo coming up next on power lunch so stay tuned for that interview. Stock, back to you. The stock is actually down 1. 5 maybe not as much enthusiasm about it at least at this moment josh, thank you. Coming up, coming , e tenyear yield hitting its highest level since late july. Thats coming up next. First a check on the dow, up 30. More halftime after this announcer the Halftime Report with scott wapner is the place for marketmoving interviews. The way the fed has said were going to take rates up do you want to bet against the fed . Real money. Ultimately if you get the company right, youll get the stock right. Real debate. The future of how you get to an analysis, a ground up understanding of businesses ithrough machine learning, data science, artificial intelligence. The most profitable hour of the trading day, the Halftime Report woeekdays at noon eastern. For your heart. Your joints. Or your digestion. So why wouldnt you take something for the most important part of you. Your brain. With an ingredient originally found in jellyfish, prevagen is now the number one selling brain Health Supplement in drug stores nationwide. Prevagen. The name to remember. A lot of focus on Interest Rates this week. Welcome back to halftime. Lets get a check on the bond market with jackie deangelis. Good morning, scott well, the tenyear treasury yield rallying and hitting its highest level in over two months, this following the Trump Administrations tax plan reveal jeff, what do you make of the move were seeing yields move in the tenyear but also look at the twoyear specific to the tenyear, yields are on the move. Why . Janet yellen last week is pushing on that string we saw the u. S. Dollar react and also saw the spike in yields, so i think she wants that long curve to continue to go up so watch continued rhetoric by fed speak but right now theres not a lot of buyers and were seeing buyers evaporate because the u. S. Government was the biggest buyer in october. On a technical level the tenyear yield just broke out above its 200day moving average. Whats the next move last week i said if it settled above 230 i would become a yields bull, a bear on the tenyear and im there right now. I think the next move is to 2. 39 if it settles back above 2. 40 i think this move is a much, much bigger move. Right now i think yields are going higher, at least up to 2. 39 in the medium term. We agree, jackie, how about that weve got a packed futures coming up. David stockman will reveal what he thinks of the new tax plan, plus ryan detrick of Lpl Financial will break down what the least volatile september ever means for theart the Fourth Quarter thats all at the top of the hour all right, jackie, thanks so much coming up here, we are trading some of the stocks hitting alltime highs today well tell you the names and whether the traders are buying or bailing final trades are up next this is where i trade andrs. Manage my portfolio. Since i added futures, i have access to the oil markets and gold markets. Okay. Im plugged into equities trade confirmed and i have Global Access 24 7. Meaning i can do what i need to do, then i can focus on what i want to do. Visit learnfuturestoday. Com to see what adding futures can do for you. Throughout my career, ive been fortunate enough to travel to many interesting places. Ive always wanted to create those experiences for others. With my advisors help along the way, its finally my turn to be the host. When you have the right financial advisor, life can be brilliant. Ameriprise welcome back to halftime. Were unveiling the results of the halftime stock survey. We asked all the strategists on wall street for their outlooks for the Fourth Quarter well give you their strategies, where theyre putting money to work and thats exclusively tomorrow on the Halftime Report at noon eastern. Fired up for that. Me too. Im here for that. Welcome back. Several stocks are hitting new alltime highs today lets kick around some of these alltime highs today depot, jpmorgan, valero, black rock pete, do you want to take depot . Home depot is so interesting because when they reported their earnings back in august, the stock sold off all they did was beat, beat, beat, grow, samestore sales, everything was great yet it got sold off. It was a great opportunity the stock, a new 52week high. This is the second now high in the last three days. So those earnings, the facts again proved out to be right. Jpmorgan. Yeah. Ive been long the name since i guess the high 80s it doesnt move quickly, but, you know, this is a name that i feel is destined to be a tripledit stock they do everything right they may not have as much upside as smaer bank or a bank taking on more risk, but this is the type of name you can sleep at night with and youve got a dividend, the best management possible, and its a growth bit within banking, you know, which is pretty extraordinary in todays day and age. I reallylike it, i think its going at least 100 or higher. Joe, valero, an alltime high. Yeah, i think its the benefit obviously of what we have heard in terms of taxes the last couple days obviously valero with a higher tax rate, thats coming into place. What we witnessed unfortunately down in houston was a catalyst im surprised by of move im obviously wrong with that one. Pete, you bought it i did i think people are looking for that, when you hit a 52week high, 10 or higher, thats what people are playing off. Did you tell him about the options activity why didnt you hook him up i do when we have an opportunity to talk, ill kick him over some of those things. We keep it quiet, though. Obvious i. Carrie, blackrock. Theyre having some of the same moves its moving up on Interest Rates, marks are up, there in all types of markets so we dont own blackrock, but i think its a reasonable trade in an environment where financials can go higher. Range resources is the worst performer in the s p 500, and joe, you own it . I absolutely own it i thank leone cooper man for the conversation in the lobby of the hotel. Did you have a clandestine meeting . We spent a good time together, as he was walking out. Deliver alpha. Which was a wonderful moment for all of us to be at bought range resources that day as we spoke, around 17. Got bottom 20, which has not done in a while, it is pulling back down, down 3 trading around 19. 60ish ive done, im not going to add. Im not going to do much if it where are to break much lower, maybe protect maybe ill call pete. Wee designed of a spread. Maybe hell tell you or he wont. Thats the moral of the story. Wait a minute, a some benjamins might come out. Sometimes pete is in, other times pete is out. Thats right. [ laughter ] final trades from the desk coming up next Halftime Report is back in a couple minutes you know who likes to be in control . This guy. Check it out selfappendectomy oh, thats really attached. Thats why i rent from national. Where i get the control to choose any car in the aisle i want, not some car they choose for me. Which makes me one smooth operator. Ah still a little tender. vo go national. Go like a pro. Thithis is the new new york. E . Think again. We are building new airports all across the state. New roads and bridges. New mass transit. New business friendly environment. New lower taxes. And new University Partnerships to grow the businesses of tomorrow today. Learn more at esd. 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Meanwhile, the dow transportation index offers here another record intraday high today. The leaders include fedex, American Airlines, Delta Air Lines and u. P. S. , so interesting move with regard to oil prices, and at the same time those transportation stocks into what about the transportation here . Love them. Love fedex for sure. Love fedex. We talked about united on monday, scott, for unusual activity the stock is up almost so fun, a lot of the people were like the transports arent confirming. We, they werent for a while. Does it have to be that day so you have a new high in the s p this spring, a lot of the bears, i dont like it until the transports confirm, blah blah blah, so eventually they do. Now they dont talk about it at all. Ls talabout it talk about tifrlts im talng about it. Hotshot. Railroads look good Airlines Look better anybody thats delivering anything looks sick right now. If youre going to be consistent if youre going to complain when they are not confirming, you were by chirps you should be chirping the rails are confirming. We look at the alliance and thats our tunnel oftentimes thats been part of the problem. You mentioned, doc, american, but i thought you bought united. I did, american and united. Im out of american, because like i say on an equalvalue basis, i like the up side more for American Airlines stock, and we had unusual activity here on monday. Lets do some final trades. Rotation, lets think about where the money is going to flow next obviously to energy, obviously its been to financials, trimmed a bit of my tcbi, independent bank,en some sin tas. Tcby, wasnt it yogurt place . Bought back you just says y. You totally did tcbi. Gummi bears, sprinkles. Microsoft, s. A. P. , health care names you see the continual, right where is the next rotation going to be in this mean reversion, quantitative model will it be back into technology and the fangs . Or using you ayogurt we dont know bought task rabbit today its the startup that sends people who have a skill to do errands for you, or in this case build the ikea furniture you buy. I think this is a brilliant move i think the kind of thing that brickandmortar Companies Need to be thinking about carrie . Health equity, hqi is the stock we like today. Its a company that is in the Health Insurance seem to be conformable in place. Its at an Inflection Point doing well. Trn, theyre involved in construction and involved in transportation, they do a bit of everything i like the name, i bought it today. Pete najarian. We roll around with rotation all the time micron technology. They continue to buy, scott, every single stinkin day, including today, buying the 38 calls in october, so giddyap. Yogurt on me. All right. Meet me in the cafeteria. We have a yogurt machine. I know power lunch starts right now. Tcby, tcbi, tcig. The hard work begins in , wd which get dumped we dig into the details. President trump removing a major obstacle to getting muchneeded help to puerto rico. The situation grouse more desperate every day. Go pro revealing the next big thing. That stock losing nearly 90 of its value from its highs ceo nick