Playbooks. And jon najarian is tracking the market for opportunity Halftime Report starts right now. Good to have you with us on this thursday. Your Investment Committee on boxing day no sparring. I know, a different thing. Lets begin with that market milestone, the nasdaq hitting 9,000 for the first time ever. He joe, i local feel like this is the fomo rally, feerp of m ff missing out. Is it sustainable when i the calendar flips over . I think it is for the month of january why not wait and see what earnings will look like before we moderate the rate of appreciation as you move into february and march and the reality of a looming election maybe takes the market and presents it as a pause but you mentioned boxing day remember, this all began one day ago on boxing day, you had the dow jones up over 1,000, you had the nasdaq up over 5. 5 . It began there it followed into the january 2019 with the tremendous pivot from the Federal Reserve and i think that that has been the story that has supported the nasdaq and all risk assets, multiassets really, not just stocks it has been the 90 cuts globally from Central Banks think about it, 90 cuts globally, the largest amount that weve had since the financial crisis, three here in the u. S. I think that has been the story of the year. And you got to remember yes, this day one year ago was the single biggest point gain in dow history,off 1,000 points but it comes off of what we call the minutia slide, remember . Christmas eve, yeah Christmas Eve collapse. So i dont know if it felt like it was that organic. We more than bounced back you put the two years together, it is pretty good. Definitely above the annual average going back decades so look, last year was an better race i dont think that that is what you want to focus on. Better race i dont think that that is what you want to focus on i think that the paradigm is to look back two years to 2017. You came out of a 20 year on the s p 500. People were saying all the low vol, something has to give you went into january and went up almost 8 just in than that point. Honestly, i hope that doesnt happen again i do think that we have brought forward some returns from next year into the month of december. Because everything that joe just said, hes right, but everything was also true a month ago. So what weve gone up here in the last month is fear of missing out, the absence of tax loss selling, Portfolio Managers playing catchup. My hope is that they have a little flattening off and not this melt up in january. Why not because remember what happened with the rest of 2018, you had two different actually three different corrections and one was breath taking id rather see that we get the First Quarter excuse me, Fourth Quarter earnings that joe is talking about and we get stability into Earnings Growth going throughout the year, that it is not all just in the month of january i dont disagree with the gentleman on the desk. But i will say and it is not so much a but. I know that they agree with this, brian, and you do too. It is a sellers strike. Are we melting up . Yes. But is it because even is chasing for performance . No it is just normal that people are committing capital spdr etf had, what, 11 billion thrown into this last friday, one of the most heavy inflow days weve sooef seever. And it was because of 401 k s, because of ira, because if you fund it before the end of the year, you can get that money to work before the socalled january effect kicks in. We all know it kicks in far earlier these days but i would say that it is the lack of sellers in there to their points as well were not seeing folks needing to sell very much outside of cannabis, they are not selling much the cannabis stocks are still at the lows of the year, but there arent a lot of other sectors including energy which i know that you cover so big, brian energy has been just rocking to the up side since you were in vienna had nothing to do with me, but thank you. And that is why we went, we knew opec could rescue the u. S. Oil and gas industry which desperately needs higher prices to get some Free Cash Flow and here is a bit of a wonky thing. Microsoft. But you cant have your end of the year form showing you didnt own microsoft because your clients would be like why didnt you own microsoft. How much of this people piling into stocks to show their clients that they do own it which then could flip when the calendar changes that is an excellent thought. Lets look at the states it has evolved to where there is an sen absence of sellers, but the evolution is important to look at walk into the Fourth Quarter with the concern about the yield curve, global negative rates and the potential for a recession. We got relief in the u. S. china trade talks. What happens what happens is to your point, it is the microsofts, the leading sectors, the four leading sectors that have actually outperformed the zch s p in this quarter are technology, communication services, financials, and health care do you realize they encompass 60 of the overall s p weighting . The other seven sectors, you could put them to the side, they have all underperformed. The meaning and purpose there is that Portfolio Managers are going after the large market cap type of names in those sectors and that is why you are seeing the outperformance they want to make sure that it is a chase for performance that is what it is in the Fourth Quarter. And even more so, and listen, it is date after xchristmas, not trying to be a grinch, but if you look at the qqq, five equities are 50 roughly of florida. There is a clydesdale and then there is about 90 my little ponies and if that clydesdale pulls, youre fine. And that is what only thing i worry about is that what that clydesdale decides to lay down and it is a legitimate worry. It is not just the qqq, it is the spider other and other etfs that have the same five stocks at the top of the list does there have to be a row tagts where the leaders become laggards i dont think that that is necessarily the case weve been talk about it before the show and in energy, financials, some of the sectors that were left for dead have really started to come back. And i think that you can see them outperform what are now the leaders without the leaders giving up the ghost. And let me back that up with something. You pointed out 11 billion came in last friday but it has been breath taking for over a year. If that money starts to come back, it can be the rising tide that lifts all boats doesnt mean that some shouldnt be lifted, but it means that all can go up without there having to be a fear that one has to give way to the other. And lets throw up if we can, guys, either the smh or the stoxx index. If i look at nasdaq 100, with the exception of tesla, the next 11 best performing stocks in december are all semi conduct tors Western Digital kind of, skyworks, amd, micron chip, aslm, max im you want to know why . Everybody is piling in . No. But maybe should be not so much cautionary, but just what comes up the 7th of january. Ce september, consu ces, Consumer Electronics show in vegas and then right after that, the jp moo pchjp Morgan Health care conference the Consumer Electronics show will be all about 5g so that is qualcomm, a lot of these semiconductor, whether it is the chips or people that service the chich, hechips, hele chips. There are so many Different Things that could you conson trait on and i think the semi trade is more than just ces this is more about the potential that with phase one of the trade deal done, you get capex picking up and it is likely to be centered on i. T. Which will require chips. And because in the last four or five months as the prospects of the trade deal being reached and then fading has occurred, youve seen the semis give up and rally with every turn of the wind in that story exactly my point this is what a chase for performance looks like up 160 for the year that is exactly where you see Portfolio Managers who all they are doing, they are not identifying fundamentals, they are recognizing the Price Performance and allocating accordingly in that environment, not because need to, but because they have to i believe in poker they call it call and a raise. Your next guest says that the fear of missing out, fomo, is indeed alive and well. He is senior Portfolio Manager of Morgan Stanley and he is joining us from chicago. Andrew, you obviously were listening to our conversation. How much of this big run medding into the end of the year is short lived versus can continue when the calendar flips . Well, i think that jon is right, there is no selling and there could be some selling on january 2nd because people are waiting to book gains until next year. Could that have some short term impacts on the market . I think short term yeah. But i think what is you know, i dont totally agree that it is management chasing performance because if that was the case, then energy wouldnt be the best performing sector this year because it is the worst this year so i dont think that it is i think that it is just money is coming into the market and there is so much money that has missed out on this rally. Were in the early innings of the capitulation of the people that sold out earlier this year getting back in. And i think that that will continue in 2020 what is the biggest risk then out there . There has to be risk sure. It is pretty obvious you have a combination of there is always a lag to monetary stimulus so youve got that youve got the uncertainty of the trade war receding you have usmca and you have the mull multiplier of the wealth effect that could lead to a hot economy next year and i think that that is a risk for the stock market in 2021 so i think that gone wi2020 wila good year, but im worried that things will get too hot and then the fed will have to act after the election that to me is the biggest risk what about the election itself i mean, i know we can all agree were early, but dont you think you get into february, what if you get real progressive coming out of the early primaries, is that potential risk . Sure. And that could take some heat out of the market. And another risk, and ill get to the political side, but the other risk is simply that all the defensives have woefully lagged especially some of the Interest Rate sensitive stuff like the reits and i think that is because the ten year has gone at 2 and you have to wonder, well, how could that reverse in january, maybe well get weaker data or whatever initially you get a reversal but as it pertains to politics, the market tends to go up in an election year, but all the return comes before the election but there will be uncertainty along the way. But one of the things that im convinced of is has come on one of these shows and said i dont see a local t of volatility. What is interesting is when so much cash is on the sidelines looking for an opportunity to invest, it mitigates the down side because all pullbacks are an opportunity to invest that is what happened in 2017. That is what happened in 2013 all pullbacks. So, yeah, maybe something comes along that creates some anxiety, but i think that that is just an opportunity for people to invest and that, you know, shortens the down side. And youre in the Wealth Management business with Morgan Stanley obviously. You realize that more than just the equity market is important to investors in the environment that you are defining for 2020, what do you think that extrapolates for high yield Investment Grade i run Global Mutual fund for Morgan Stanley investment management, so im not a mixed income person. I have a hard time seeing rates moving higher and i still argue that when people say that the market is expensive, ill say expensive . How can it be expensive when the dividend yield is roughly equal to where the bond market is . I dont see rates moving higher. And i know that historically the stock market trades at a lower ditch depd yield than the ten year because of the up side that you get in stocks. So if rates arent moving up, then to get back into quil equilibrium, i think you have stocks coming down so i think equities are attractive and i dont see rates moving significantly higher. And that is why some of the things like the reits that havent done well recently, i think that they are intriguing because they have got pretty decent yields as long as rates dont substantially move up 2 , people will come back to those areas that have lagged recently. Well watch the reits then. Andrew, have a great new year. By the way, i love it when people i couldnt quite what did i say that would activist siri . Stop listeni listening to me. Your plane was rerouted . And i ran all the way here. You were supposed to land where . At laguardia. And you went to philly. Yeah, an emergency landing. But everyone is okay. Im okay. Yes, we are all okay im glad you made it. So all good. Wow, what a journey. Hardest working person on the set today, you lazy bums you didnt do what she did good to see you. You heard the conversations. The market is not expensive. Is there any way when i look at 19 1 2 or 20 times forward earnings or two times book or whatever i can say the market is expensive . I think if the market were 19 times earnings, we would call it expensive. But it is forward. Well, it is 18 point something. Pick your number so were not cheap last year at this time 14. 5 times earnings im sure you were talking about this and earnings didnt grow that much so were counting on earnings we need have earnings so that the multiple feels better. They have to grow into the multiple and that is why youve seen stocks like netflix, amazon, sales force have been sort of flat because their multiples are high and were waiting for them to grow into that multiple. I think that that is possible. But if we dont have stronger earnings, it is very hard to sustain this kind of market and move it higher even though there is money on the sidelines. That money will get tired and the money that has been there, people who have left their money in the market for the last year, who have 40, 50 gains, they will take some profits at a certain point. By the way, apple up 28 this quarter. I mean by the way, people worried about iphone 15i8s in chi sales in china and that is a lot of the fear of missing out a lot of window dressing that is carrying forward the gains. As the year comes to a close, tech stocks continue on a tear and it is not just this year tech has led the s p 500 over the past ten years but if history is any guide, this years market leaders could be due for some underperformance over the next decade lets find out why and go to Professor Bob pisani with more on that. Good to see you. Good to see you and what a decade its been. It started out with fear and it is ending with historic highs. Investors have been absorbed with the search for growth which is why technology has so dramatically outperformed. Up 328 for the decade followed by consumer discretionary, health sca health care. And look at energy, only sector to have no gains for the entire decade so what isahead . If history is any guide, investors should avoid the fallacy that the future will look like the past weve often noted mean reversion, the ten debs city for most investments to revert to long term averages and it happens over very long periods of time as well. Let me show you 2000 to 2009, the top three sectors here, energy, Consumer Staples and materials. They tended to underperform in the next decade, this one, 2010 to 2019, only up 80 look at the bottom three, communications services, technology and financial, they tended to outperform in this decade, up 184 . Just the opposite. And this phenomenon also happened from 2000 to 2009 why does mean reversion seem to work as a strategy first, in a capitalist system underperforming sectors tend to be ruthlessly restructured until they are efficient second is that humans tend to continue to buy things that keep going up in value creating bubbles that eventually burst and we learned that as a fundamental tenant of behavioral economics more than a decade ago. Really interesting stuff. Bob, thank you very much so lets go around the desk and get some 2020 stock playbooks. J jim. Yes, look, i like the term that bob just used, the Underperforming Industries get ruthlessly restructured until they are efficient it applies to most of the value sectors. I didnt put any energy names in there because we were talking about them earlier but to Goldman Sachs is trading at book value. Financial sector had been left on the sidelines and now performing well. Goldman should have a 1. 4 times book greenbrier, they fell off a cliff because of trade tensions. But that is easing and so rail car loadings will go up and the need for new railcars. Viacom cbs, okay, bad news is in as far as the merger came in and we didnt get as much synergies, but now the combined company is being operated with ruthless efficiency and it will get cleaned up for a sale. Does that happen in 2020 i dont know maybe it is next year after that 37 but i do think that that is the end game for viac viacom se. Yeah, that is not a name for me that that is a value play more than anything else. Come on, joe. I think when you reflect back ondecade, the thornls importance of technology can understated. Energy tends to disrupt and then enhance a particular sector. We saw that with energy. And we saw that with retail. And i think the question for the next decade is where is Technology Going to disrupt and ultimately enhance and i think that takes you to financials i think it takes you to Health Care Health care space names that im long on the belief that technology will enhance their businesses, those are the medical device names, pki, abbott names seattle genetics, sgen, that is a name that ive talked about. And then financial institutions, i think that they are recreating themselves and looking forward to the next decade you will see consolidation on the other side of that, the enhancement will come in a lot of Financial Technology banks. Those are the names like jp more began that weve talked about at length on the desk here. More began that weve talked about at length on the desk here. I like the conversation around greenbrier. You dont talk about it very much down 20 analysts dont like it average rating is hold average price target is 33 it is a contrarian play. I like it. Well, look, i the have known the company for many years used to have a high debt level that debt level is down. Trade at a discount to book value. They have been growing their business organically and by buying businesses that they can fix up this is a good place to be assuming and i think this is a good assumption that well get a pick up in the cycle here. Half its price to sales average over the last five years. All right. Carrie, your picks constellation brands, paypal, amazon, sales force, and alphabet google. Pick one or two. I like paypal i can use another one for my final trade, right so paypal has been a stock that really to speak to what joe was describing as technology and finance sort of intersecting and moving forward in the new world, there are still 85 of payments done by cash or check in the world today. And that percentage is coming down as they are using other types of mechanisms and pay pal is at a forefront, they can up with they bought venmo, and great idea built up to be an enormous concept. It has become a verb so i think it has other tech names that had very strong first halves i see a strong runway there and i like that name a lot lets talk for a minute about amazon because amazon is a stock that had an enormous year, but that year really ended about the middle of 2019 and it is because it has to grow into its multiple. It is still the dominant player in its category. And at that category, it is almost everything, but certainly what we spend as consumers there is no reason that they are going to slow down that process. And i think that the stock can continue to earn strongly and the price will begin to follow every website is using paypal now. It is always the option. Average rating is buy. Average price target is 19 above where the stock is now Analyst Community loves paypal. Not such a positive anybody else like paypal . I own it. Yeah. Own it, like it. Weve had a lot of unusual activity since it was in the 90s all the way up through now it is up 10 or 14 actually above where we first saw that activity so im right there with you on this one all right good stuff weve done a lot, but there is still so much left do. Here is what is coming up on the Halftime Report. Straight ahead on halftime, the trader blitz on uber, boeing and tesla. Plus jon najarian brings unusual activity, his latest trades based on moves in the options mar get is ahead the Halftime Report is back in two minutes. Yes im stuck in the middle with you, no one likes to feel stuck, boxed in, or held back. Especially by Something Like your cloud. Its a problem. But the ibm cloud is different. Its open and flexible enough to manage all your apps and data securely, anywhere, across all your clouds. So it can help take on anything from rebooking flights on the fly, to restocking shelves on demand, without getting in your way. [spokesman] if youve tried colleg group cheering shed, snhu lets you transfer up to 90 credits toward you bachelors degree. [woman] it doesnt matter how old you are, you can do it, you can finish. [spokesman] finish your degree at snhu. Edu but in my mind im still 25. Thats why i take osteo biflex, to keep me moving the way i was made to. It nourishes and strengthens my joints for the long term. Osteo biflex now in triple strength plus magnesium. Hero with in the cnbc control room this is where it all comes in including your questions go to cnbc. Com halftime, ask us a question and well answer it on the air or get us on twitter welcome back lets get the News Headlines now with Bill Griffith and here are your cnbc headlines this hour. British authorities are rescued 49 migrants in small boats off the coast. They were from iran iraq and afghanistan. And meanwhile israels governing party is holding a challenge to Benjamin Netanyahu and his horn ten years in power. Likud argues that they would be better to form a government. And in hawaii, strong storms brought flash flooding on christmas day. Heavy rains triggered a rock slide, closed part of a highway. No injuries reported and starbucks is throwing up a series of popup parties at 1,000 of its locations starting tomorrow customers will receive a free tall handcrafted espresso beverage of their choice you can find the participating locations on the starbucks website. That is all you need, sullivan, free caffeine. My question is will they close on time for the party or are will they keep the stores open latte i have nothing to add to that i cant wait to host power lunch with you today. I look forward to it. Six cups of coffee before the show it will be great lets hit our trard blitder bli. First up is uber, travis ca californca kalanick is gone how much pressure is the stock feeling. Very aggressive selling so i think this is good that he is leaving on december 31. The board, this presents the opportunity for kind of a new path forward, some visibility. It is all about path to profitability, taking the loss which was 5 billion in q2, 1 billion in q3, when ultimately does the Company Become profit fbl. I think at some point in 2020 the street recognizes the path to profit ability is closer. And it becomes an opportunity to own the stock down 27 in six months. A lot of that has to be kalanick just bombing the desk. It is a big part of it, but i also think that the loss was a little bit greater in prior quarters than the street expected but again, this is a positive that he is leaving on december 31 and next up, Tractor Supply shares down more than 1 , but you like the company i do. And im asking myself why didnt i own it maybe in 2020 i will it does have a slightly high multiple around 17 times forward earnings for retail stock, but here is the thing, the people who buy a tractor supplier are not likely to buy on line. If you need a tractor tow bar or an extra 50 pound bag of feed for your horses, you have to go get it right then and there. I dont mean it as a joke. These guys have about 1800 store, they have more area that they can expand into im not going to say they are impervious to amazon, but they have a pretty good defense to it you like railcars and tractors heavy mack im proud of who i am i like it new developments surrounding the boeing 737 max documents regarding the jet reportedly that were viewed were being viewed as, quote, very disturbing that is really all we know what is your take . Well, it is disturbing. So i think that what we have with boeing right now is a stock that is a bit of a linchpin for this market. In fact, if the 737 max does not get approval to fly by the end of the First Quarter, i think that that could be a problem for the entire market. It would be a problem for gdp. We have been betting or investors have been betting that it will get reapproved and fly again by the end of this year and that didnt happen now i think the hope is First Quarter. If that gets postponed, supply chain and gdp suffers and i think that it is very important for the market to watch this and that is why we have this intense scrutiny of every single move that is going on. Highest dollar stock by 35 bucks in a price weighted index. Very important. All right lastly today, tesla target raised by 100 bucks wedbush. And since july when they started buying these calls, the stock was 195, now it is whatever, 433 i think was the high today so i think that it keeps going i think that there is a lot of good things here and obviously it is being squeezed significantly. Applies tprice target still below where it is now, but the sentiment that counts. Like that sweat are yer you gotr christmas. A big retail winner, john in a in jon najarian has that trade and more coming up but first a look sectors how they are doing today most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Shares of lululemon almost doubling, but options traders are betting on more up side ahead. What are you seeing in lulu . Pete has called it for a long time athleisure play and of course what people are using even for business attire these days men and women, lululemon up t90. They are betting that bay tby te third of january, it gee goes he today. They bought january 3rd expiration calls at the 237. 50 strike so there they are. They traded about 5,000 of them right there. And 5 1 calls to puts today. Huge ratio on the bull lirk sise so ill be in just over a week remember they expire in eight days second trade, take a look at what is going on in the shares of snap. Both january and february calls extremely active january 10th expiration at the 16 strike, they have traded a ton of these the stock is moving higher as you can see, were right around 12,000 calls have traded and they have also traded about 17,000 calls out in february same strike. 16 strike. 11 1 calls to puts in this one so both of those are out of sight as far as those ratios of calls bullish bets to puts so ill probably be in this one for about two weeks. Take a look at nike, pete loved lululemon and nike hasnt treated me so well even though the stock is finally back through 100, nones less the calls i was buying didnt do quite so well. About 50 prks il ill cut it t im hoping that we get a little bounce after the holiday good stuff on the consumer. Straight ahead, oil hitting a three month high today, trard s will get top picks. Stocks tend to kick off a new year with solid gains. Over the maspast decade, s p gan average ever average of 1 in january and according to our data partners, the nasdaq leads up an average of 1. 6 . For more, cnbc. Com kensho. Energy stocks, the top performer this month and when is the last time we said that . And the gchlt le et gchlt having its best since june. Jim, coming off these like going from a dminus to cminus. Youre right. And i think that there is more room to run here in 2020 and ive said it with scott and jim cramer, ive set energy is the place that i want to be in 2020 it is not just because the Commodity Prices are firming up. It has been five years since the collapse in oil when opec refused to cut when they were going to try to squeeze out the shale producers. You had a lot of bankruptcies and capital has been rationalized Balance Sheets are in a lot healthier shape. And investors are ready to come back into all segments of the balance sheet. Debt, private equity, public equity within the energy space, these are the reasons not just the firming of Commodity Prices that i think 2020 is the year for energy the problem is debt though. The problem is debt. And to jims point, if the banks will refi, if they extend maturity, some can hang on otherwise even is saying streets a matter of time before you get a reorganization that is it agreed. Jeffrey gunlock i think correctly called a lot of these zombie institutions. And that is really what they are. 2020 is going to present a significant amount of debt that needs to be extended and were going to see what happens in the high yield market in that regard the strategy that i have had in 2019 as it relates to the skequy names is to find where the Strong Performance is. That has been hess and one oak. So ive maintained exposure to those two. I think if you are looking for a future opportunity in energy potentially, brian, you find it in two refiners. Valero which has had a strong year and pulled back from its november high and phillips 66 psx, which has done a similar type of price pattern and a bit of a correction since november i think that is where a potential opportunity is looking forward. And so phillips is the one name that we own in energy and it has been a way for us to play the sector without being in the enp business they dont have drilling, they dont look for drilling. They are not in the shale business they are one of the few refiners left sells for undermarket multiple it is up 34 year to date. We think that it has more room to run the question is whether we add another energy name and i think that the question for many are you getting out of it it is something that you have to consider. The truth is, in has beaen thern divestment by so many institutions and that creative this sort of x factor there may be less demand than we think even if we think that the stocks start to move higher. But if you have a group that has gone down consistently for a decade, there is definitely to your room, we talked about kalanick selling if all the Pension Funds are selling oil and gas stocks over a year or two, almost impossible for them to go up. Every day they get hit with selsell selle orders and we keep talking about esg as if there is a viable alternative to fossil fuels. I know well talk about renewables, solar, batteries, everybody. The amount of fossil fuel energy that goes in to mining the materials for batteries, it is tremendous i mean, fossil fuel is not going away so we can kick to the curb, but eventually people will scoop it up on the fact that you didnt mention marathon trades at book value. This is a hard Asset Company generating cash, buying back shares at book value people will buy this there you go. And you are item on, that is why i went to the mine in Southern California because if you are pulling out stuff for renewables, want to make a windmill, you have to run a lot of tractors to make the batteries. Halftime trarder e traders are answer your questions on tech and much more. Were back in fin two minutes theres a lot of talk about value out there. But at fidelity, value is more than just talk. We offer commissionfree online u. S. Stock and etf trades. And, when you open a new Fidelity Brokerage account, your cash is automatically invested at a great rate thats 21 times more than schwabs. Plus, fidelitys leading price improvement on trades saved investors hundreds of millions of dollars last year. Thats why fidelity continues to lead the industry in value while our competition continues to talk. Talk fidelity. Ugh, another electronic signature. You have to print, walk, sign, scan, recycle, walk, email yourself. Really . 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Its a game changer. Welcome back its that time where the traders answer your questions. First up, for joe, or for joe from maurice in maryland hi, maurice. Is docu sign right a deal . Yes, ive talked about it ive mentioned microsoft and adobe as potential acquires. This is a 15 billion Cloud Software company e signature. They ipoed in april of 2015. Theyre showing growth of above 40 . They have strong momentum behind them the stock has rallied significantly. Any form of a correction in the first months of the year this is a name you want to own i own it currently and plan to tan it through 2020. Carrie, this is from earnest in new york. Ali baba is at an all time high. Should i sell . I would not the stock has had a big move recently, but it took a hit this year because of fears about the china trade war. It have under a lot of pressure. It really shouldnt have been because this is about the Chinese Consumer and about alibaba being the controlling factor of the Internet Sales and commerce in china. Its back on track we think that it has a strong runway and we feel that 2020 will be a good year for it okay. For jon from sleepless at florida. Oh. Hope you get some rest. Amarillo near term. Buy or sell. I would hold on to it if you dont have it, i would add it to your portfolio ive had it since december 9 or 11th up 9 since then i think it goes back and tests the old highs quickly. Its one of those semiplays into ces. And from william in california, how about three top tech picks for next year hes not greedy william. He wants to be diversitied. Im going to give you three companies centered in california how about that intel Electronic Arts and google these are one value name intel, two names a alphabet and Electronic Arts. These are reasonably priced. Ride them. So as weve been telling you, its been a record breaking year op wall street but the question now is one that only we are asking what is the best performing city for stocks coming up in power lunch, we made these power city indexes. 35 different cities. 12 big market cap companies. Well reveal the results about 2 30 heres a hint from one of the top ones jazz flute and im kind of a really big deal. Tune u in to power lunch for the big reveal 2 30 p. M. Eastern time final trade straight ahead on the Halftime Report. vo the flock blindly falls into formation. Flying south for the winter. They never stray from their predetermined path. But this season, a more thrilling journey is calling. Defy the laws of human nature. At the season of audi sales event. To take care of yourself. But natures bounty has innovative ways to help you maintain balance and help keep you active and wellrested. Because hey, tomorrows coming up fast. Natures bounty. Because youre better off healthy. Natures bounty. 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Osteo biflex now in triple strength plus magnesium. Caround the horn. Best Canadian Company there is just made a new high. Sho shopify. Buy high, shop higher. Theres a book by that title. Theres many i could pick im picking citigroup today. Tomorrow, could be Goldman Sachs. But the financials, particular these ones selling below book value are good stuff jon this is another semiconductor play surprise , surprise micro chip mchp 105 calls bought those during the show and carrie ch. Con stellation brands got hit with the bad news about cannabis plays after the huge news still a beer company a top beer company we think it will go higher great stuff thank you very much. Well see you back most of you tomorrow the exchange begins now. Thank you its been a tech tacular year for technology over a quarter of the nasdaq 100 is up over 100 this year and today, we hit nasdaq 9000 so can that rally roll on well debate plus, consumers hit the internet in record numbers making this a good year for retailers and e tailers. The question is, who will win the post Holiday Shopping blitz . All that, a struggle beyon