Why the bernie camp should read shakespeares julius caesar, act 3, scene 1. All that and much more on making money. Charles market back deep in the red after coronavirus fears sparked a major selloff yesterday retreating from early gains. This is about a housing boom i spoke about, a clear sign of the domestic economy doing very well, parts of it in fact surging. To break down what were dealing with today bellpointe chief Market Strategist david nelson and the gartman letter editor and publisher dennis gartman. Dennis, let me start with you. We were up almost 2 pun points out of the gate. I dont think anyone would take the bait if you will but it was driven by good earnings and some Economic Data and it feels like we have two forces at each other right now. Things have been happening with the economy and then what may happen because of the coronavirus. I think you have a number of things you have going on here, charles. Coronavirus circumstance is a major catalyst but you have geopolitical risks. You have confusion in the German Government that is problematic. You have problems over in the french government. You have problems in the spanish government. You have got circumstances prevailing in china. You have got a number of things going on coming to fruition all at one time and you have a market egregiously, preposterously, almost schizophrenically overvalued. I trade only formy account. I say i have my money at risk. Ive been heavily short. Been short week 1 2. Theyre not giving me a chance to get shorter. Going downside. I think we have problems here. Charles david, your thoughts . I would have to take the other side of it in terms of egregiously overvalued. Stocks dont live in a vacuum. Compared to other Asset Classes they were attractively valued. Asset classes compete for your dollar like everything else. Risk reward very low, stocks are place to be this is outside the norm. We were wrong last week stocks were looking to the other side of this. The big part the coronavirus how it has put a ripple in the World Economy and the political dynamic. Charles the economics of the Global Economy are about fighting the virus, than the virus itself. Shutting down 60 million people. That is the way theyre shutting the virus. Commerce halts at that point. Charles do you find it intriguing, this week, the last couple days china had better news and, this, it was all about china and chinas economy. Apple is opening up more stores. President xi forcing people to go to work. They have got buses, things like that. There is still some reluctance. Maybe 70 of folks grudgingly bonn back to work but the point is that, the other parts of this, is it more humanitarian or more economic or combination of both . Combination of both. Earlier before the last leg down in the market, some stocks with a lot of exposure to china, Companies Like quorvo, 75 of sales to china, actually turned green briefly. I dont know where it is now. Charles dennis, talk about egregiously overbought. Where do we become egregiously oversold . When we do. That is the best answer i can give you. I think before this is done well be down at least 10 or 12 from the highs. Maybe a little more than that we have broken uptrend lines and gone back for many, many months. The fact we broke through 28,000 on the dow. The fact we break down through 3200 on the s p, any trend line i look at trendlines. I Pay Attention to them. Any trend line you want to draw youve broken through. We could go down several more days. Were down six out of the last seven. Were down 2,000 points. We might get a bounce tonight. If you get a bounce i think you have to sell into the bounce. We had a bounce last night. Anybody sold into it was wise. You get a bounce tonight, you sell into it again. Charles david, something to be said, personally, as crazy as this sounds i prefer when it comes down sharply and quickly as opposed to the long, drip, drip, kind of thing. We get oversold conditions and real great opportunities but i do worry how many people are going to sell into that bottoming process . Probably selling right now. Mutual funds are selling shares because they understand there will be liquidations tonight. Charles passive investment goes the other way. Stocks went up, they had toe buy them. As they go down they have to sell them. This will run its course like all these things. I think it is a extraneous event. The underpinnings of u. S. Economy were pretty strong. The magnet looks like the 200day moving average. That is the 10 correction right there. For me on longterm basis that doesnt break any trend line i am looking at. Charles two of the best. Thank you very much. Appreciate it. Yes were seeing americans building and buying homes. We see wages starting to rise very nicely. Folks, it seems like those expenses have been holding back the middle class, trying to keep up with the joins. Specifically college, cars, even to extent, health care. In fact there is a new study out, a report, that the Median Household Income doesnt cover costs like they once did. Is reaching middle class, is the middle class itself now a myth . I want to bring in kings college, manhattan chair of business and finance brian brenberg. Fantastic report from the Manhattan Institute a conservative think tank that essentially says the government has been measuring all of this all wrong, particularly inflation and that is why they dont get and there is a disconnect between what the government says and most people are feeling. You talk to people, there is no inflation but im feeling pinch in my pocketbook. They like wages are growing. They like the economy is growing. Theyre still feeling the pain. Sectors of the economy where costs continue to skyrocket. We know what they are. Theyre education. Theyre health care. Theyre housing. What happens those kinds of costs fall most heavily on families. It is families that bear those. So they go to the Grocery Store, whether or not theyre paying more for groceries a and paying more for education and health care. Charles feels like everything costs more. Feels like everything costs more. That is not made up. That is real. There are big drivers in the economy, health care, education, housing creating that. Charles i think, everyone kind of knows that anecdotally what a middle class worker did in the past. They focus mainly on male wage earners, right . When i grew up if your dad had a car, had roof over your head, food in the refrigerator, money in the savings account you felt middle class. People felt middle class. There are so few people who can pull that off right now. 30 years ago. 35 years ago, dads income could cover basics of 35, 40 weeks of work. There was something left over. People feel like there is nothing left over. Twoincome earners trying to make ends meet. They know if one of those incomes goes, they are in serious trouble. It is that sense were living right on the edge that has people so nervous. Again it is because theyre dealing with costs we havent we have not addressed those key costs like health care, education. Charles it is so amazing because those are the two central issues for the election. Tonight in this debate we should probably hear about that, a lot how to Curb Health Care costs. Couple candidates saying well take care of it, well write the check for you, and how to do something about college debt. You know that is exactly right. These should be the central issues. We should talk about how we bring down costs. Well not talk about how we bring down costs. Well talk about policies that end up raising costs. Charles isnt that the irony. Because it is social ided. Individual will not pay premiums. So what . Taxes will go way through the roof. They will still be feeling that pinch. Now they will deal with one provider for health care, no choice. It is the government. You dont like it, too bad. You have no power. Are there solutions . This is recent phenomenon with college prices going through the roof. Of course colleges look great. They have wonderful campuses f youre a professor take a couple years off to write a book. Yes. Charles reality, weve gone from very small percentage of overall debt to 1. 6 trillion. It is insane. In both cases health care and education places where the government gotten more involved. Theyre spending more of your dollars, more subsidies, driving up costs. What ends up happening it does enrich a few. There are professors with cushy jobs, administrators with cushy jobs. Theyre doing fine. People trying to pay the bill are not doing fine. The problem with the costs the debate is socializing costs always a recipe for raising them. That doesnt help anybody. Charles we should learn by now. Brian, appreciate it. Well watch markets this hour. Were coming down faster each moment. Looking for opportunities in the market. Well discuss this that as well. President trump calling for two Supreme Court justices to recuse themselves when it comes to cases dealing with his administration. President s attorney jenna ellis makes the case next. Look at amazon go Grocery Store, is there anything else that amazon has not touched in our daily lives . It is amazing. Can we go get some ice cream . Alright, we gotta stop here first. From smarter atms, to after hours video tellers comcast business is connecting thousands of banks to technology that turns everyday transactions into extraordinary experiences. Hi there. How are you . Do you have any lollipops in there . laughing no, sorry. Were helping all kinds of businesses go beyond customer expectations. How can we help you . Oh no, here comes gthe neighbor probably to brag about how amazing his Xfinity Customer Service is. Im mike, im so busy. Good thing xfinity has twohour appointment windows. They have night and weekend appointments too. Hes here. Bill . Karolyn . Nope no, just a couple of rocks. Download the my account app to manage your appointments making todays Xfinity Customer Service simple, easy, awesome. Ill pass. I just dont know how they cannot recuse themselves for anything having to do with trump or trump recommended. Her statement was no inappropriate when youre justice of the Supreme Court. Almost what she is trying to do, people do feel a different way, get them to vote the way that she would like them to vote. Charles President Trump taking aim at the liberal Supreme Court justices Sonia Sotomayor and Ruth Bader Ginsburg accusing them both of antitrump bias. This coming after the obamaappointed sotomayor accused other justices bending to the white houses legal wishes to bypass lower courts. Ginsberg you may recall called trump a fakeer back in 2016. Does the president have a point . Joining me to discuss, attorney to President Trump, jenna ellis. This thing is really unusual, jenna, to have a sitting Supreme Court justice, in open revolt against the administration . Yeah. And charles, President Trump is absolutely right to call this inappropriate and question the bias of a Supreme Court justice that would insert a politicallymotivated attack into a dissent of the court. So even though sotomayor couches this in a dissent that doesnt make it any less inappropriate and political for the nonpolitical branch, the Supreme Court, to talk about an administration disfavorrably. So for context, always context matters. What is going on here, there is continued president ial harrassment, no matter what the executive branch does, no matter what the Trump Administration does, then someone is going to sue. There have been repeated lawsuits that have forum shopped. They tried to get judges on the District Court level to issue nationwide injunctions to prevent executive branch from being able to carry out its constitutionallymandated political powers. Charles right. Then President Trumps attorneys have to go to the Supreme Court and request these emergency stays, so that the executive branch can continue to do its job. That is completely inappropriate. For sotomayor to say it is the defense, simply having to go to the court for relief, say somehow that is inappropriate, she is disregarding the entire context, she is showing herself to be a political opponent of the Trump Administration. That does deserve recusal and highly inappropriate for a Supreme Court justice. Charles this ruling on the public charge which she wrote a dissent. It is hard to say more troubling that the government would seek this extraordinary relief, seemingly as a matter of course or that the court would grant it. That is a great point you bring up, depending on what kind of ruling someone is looking for determines what courts they file the actions in. The l. A. Times highlighting what they call an uproar over President Trump now flipping the ninth Circuit Court of appeals. Saying the new conservative judges are sending shockwaves into this whole thing. How does this work . Because chief Justice Roberts once said there is no such thing as a president ial judge. There was no such thing as a trump judge or an obama judge. Yes he is exactly right. There shouldnt be. If we look at the context of the u. S. Constitution and how the branches and separation of powers are originally designed there shouldnt be anything such as a appointed judge or we shouldnt be able to say, this is an obama judge versus a trump judge, versus a clinton judge. Should be these judges who are appointed look at the constitution and they make rulings based on the law as written, not based on their activist political preferences. Charles right. That is what were seeing though with the reversal with President Trump he is appointing conservative judges who are genuinely conserving the rule of law. Conserving that separation of powers. So what is frustrating the left theyre no longer able to weaponize the Judicial Branch into doing their bidding and extreme activist im. That is upsetting to them. Charles extraordinary to watch it play out. Thank you, jenna. Thank you, charles. Charles the dow is down 800. People use 200 day and 50 moving day averages and we shattered it. Typically where markets and stocks make a stand. Well see what happens later on this session. Meanwhile President Trump firing back at Chuck Schumer after he called trumps leadership on the coronavirus quote, lacking. Coming up next how the administration is combating the spread of the virus. Well be right back. T. Rowe price experts go beyond the numbers to examine Investment Opportunities firsthand, like innovations in agricultural research. Because your investments deserve the full story. T. Rowe price invest with confidence. The business of road trips. Adventure. And reconnecting. Modernized comfort inns and suites have been refreshed because our business is you. Get the lowest price guaranteed on all Choice Hotels when you book direct at choicehotels. Com. Coronavirus which is, you know, very wellunder control in our country. A lot of talent, a lot of brain power is being put behind it. 2 1 2 billion dollars were putting in. I see Chuck Schumer criticized it. Thought it should be more. If i gave more, he would have said it should be less. Automatic with these characters. Theyre just not good for our country. Charles President Trump working to reassure the public that the coronavirus is being handled while hitting schumer after the Senate Minority leader said that the president lacked a plan to stop the spread of the virus. Edward lawrence on capitol hill with more. Edward . Reporter President Trump wanting more monty to be aggressive if the coronavirus ever take as foothold here in the United States. You heard what the president had to say. There this is what senator Chuck Schumer said that triggered off this comment. Trump said that the coronavirus might, quote, miraculously fade once the weather gets warmer. Towering and dangerous incompetence. Reporter facing the brunt of the conversations for the administration, health and Human Services secretary alex azar in front of the Senate Appropriations committee, you see the committee there, some headlines, he was very concerned that the virus will get into africa where some countries lack infrastructure to contain it. He also says just like the cdc said, we will see more cases in the u. S. It is a matter of how many. So what we look for is sustained humantohuman transmission, especially unidentified. That is what is particularly concerning about iran and it tally right now. We have sustained humantohuman transmission with no identifiable connection to existing cases. That is very, very concerning. Reporter azar says the administration wants 2. 5 billion, some of it diverted from a ebola prevention fund. The money is used in five ways. First expand surveillance of people coming into the country. Second, paying expanded hospital readiness. 2. 1 billion used for research and development for vaccine for the virus. Finally, buy protection equipment. There is stockpile of 30 million respirator masks. The second says we need 300 million medical masks for medical professionals alone. The republicans and democrats believe the 2. 5 million number is a low ball figure. Senator schumer would like it over 3 billion. He wants to see a czar to coordinate this response. Back to you. Charles edward lawrence, thank you very much. Switching top aches little bit. This will be big tonight, probably comes up, a win in South Carolina is all bernie would need to cement his frontrunner status but the rest of the party will go full force to stop him t could be too little, too late. It appears he is surging with black voters. Our Political Panel right after the break. 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Right. Were feeling we can catch anything at anytime. Really that has been the news world too. You see nothing happening in europe, all of sudden italy has 800 cases. That kind of thing has been infectious to this market. Market as you said was up 200. Now down almost 1000 points. It is a pretty massive swing based on really fear and contagion. Charles how do we get around this . I know markets overshoot to the upside and very few people would argue it wasnt overvalued or maybe priced to perfection. Really, it is, underlying fundamentals are Getting Better but, it was hard every day to find something new to buy. That being said though, you know, stocks, i wish i owned on thursday certainly a lot cheaper today. Thats right. I keep a list. Charles so do i. Everything i have. Some of that stuff has been way off my radar for such a long time. Now it is finally getting priced to my perfection which is quite different than the s p 500 was a few days ago. Charles so funny because two of the names i had near the top of my list were downgraded this morning, micron, nvidia. Dont worry. Let them go down. Right. Charles there are two things, someone sent me an email, said okay, the market is down 6 but his portfolio is down 50 and his broker was telling him to hold on. I cant believe his portfolio is down 50 but people feel that way, right . There is certain hysteria creeping in. This person is asking me how does he hang in there . History should be the easiest guide but what do you tell people . Well, i tell people especially in markets like these, because i love market like this because this is where i get to go shopping. So i have had some cash on the sidelines. I have had things sitting there dormant for a while. It is good time to go in, buy a little more of positions we step understood. What i like are things like energy which is what i talked about last week. Energy will come back around. I think that even though the price of oil is down dramatically. It has a lot to do what is happening globally. Charles i gave you a hard time on that. I will say the next day contra resources had a blow out number. Day after that pioneer had blowout. Those are two Permian Basin plays. It is a wide area. People have to be a little more specific but overall what stop this is kind of thing because there is nothing really we broke the 50 day and now breaking the 200 day in the same week . Yeah. Charles what stops this other than it exhausts itself . I would like to see markets capitulate this much. Charles right. Two days, 2,000 points. Charles was it too calm for you yesterday . Too calm for me. I like this kind of reaction be proly time to step in here or there. Charles danny, love it. Thank you. Charles South Carolina showdown is set as seven democrats take to the stage tonight all with the hopes of stopping Bernie Sanders but it may be too little too late as sanders clearly has all the momentum. This after a surge, reported support among black voters he could even take South Carolina. The socialist is facing unprecedented assault from his democratic rivals but will everyone have to join the assault tonight . Will bernies last words be etu elizabeth . We have leslie marshall. Inez step man and Bernie Sanders campaign surrogate amir czar. Let me start with you, less sy, i think everyone has to gang up on Bernie Sanders including Elizabeth Warren and they have to go at him hard and go at him all night if he is going to be derailed. Is that what you see . Absolutely. You have to do that, if you want to be king or the queen of the mountain, you have to push off whoever is in the number one place. That is not in politics. That is any game you want to win. Elizabeth warren will also go after bloomberg though, not only did she get after him before for disparaging remarks about women but the latest one about her that she was wacky. Charles comments have been unearthed that werent positive with obama either. So these things keep coming out. Correct. Interesting timing of course when they keep coming out. Youre right. Let me ask amir. It is interesting that Bernie Sanders has really been his own man. He bought into the philosophy for several decades. So authentic part everyone believes is there but he doesnt back down, right . There was no backing down after he praised fidel castro on 60 minutes. He did it again last night on the cnn town hall. I want the audience to see what im talking about here. He initiated a major literacy program. It was a lot of, a lot of folks in cuba at that point who were illiterate. He formed literacy brigade. You may remember. They went out and helped people learn to read and write. You know what . Teaching people to read and write is a good thing. Charles a lot of democrats, amir, that gives republicans florida and other states. You left out more of that charles we could have played the whole thing but i couldnt interview you. He announces all parts of authoritarianism and denounced castros authoritarianism. We have a candidate in Bernie Sanders who consistently denounced authoritarians unlike the president who cozies up to putin and kim jongun calls him his great friends. Bernie has a certain brand, yes of democratic socialism he believes in, we should fight for weakest among us. Theyre all in together, not me, us. But he is against every form of authoritarianism, like the saudi regime that the president cozies up to as well. Bernie called them murderous thugs the other day. Authoritarianism is bad and wrong. Bernie has been clear about that for decades. Trying to say he praised castro like you said is a little bit too simplistic. Charles inez, it is not me they have to worry about, but democrats on msnbc and cnn. They are going apoplectic. President obama talked about forgiving college debt. President obama went to cuba. He removed the travel restrictions. He did the wave with one of the castro brothers. Im not sure why the democrats are so upset with bernie when he seems to be the growth what they planted a long time ago . Bernie says the quiet part out loud, right but i dont think it is actually accurate characterization oh, he likes certain aspects of these systems, he disagrees with other aspects of these systems. That nuanced analysis is not what we have when we talk about other murderous thugs and dictators. We dont talk about for example, any of the positive things, right, that happened under hit le, not saying that there were, but that is not how we talk about people who are murderous authoritarian thugs. So i think this is also a longterm pattern with Bernie Sanders. This is decade after decade. It is not just fidel castro. He has never found Much Negatives to say about or take today. Never found Much Negative to say about chavez. He is not had Much Negative to say about the u. S. Sr when that system was still up and running, still throwing political dissidents in jail. So i just dont think it is particularly helpful to characterize this as a throwaway remark or look at nuance here. Charles leslie, is it helpful to keep dissing the voter . The democrat establishment and folks who represent them in the media essentially are really to me dissing democrats going to, gone to the first three states and have given Bernie Sanders the plurality, the majority of the votes so far and, seem to like him more and more in the polls . Is this a dangerous act on the part of the democratic establishment which ironically proves bernies point in the first place . No. I think the democrats, im a centrist. Im a moderate, i said it before, i got trashed earlier today on Fox News Channel because i went after senator sanders for what he said about cuba but then i admitted i would vote for him if he were the nominee. You can disagree with something a candidate said very strongly like other areas. You asked me about the party. There are people fighting, whether liberal, progressive, moderate centrists like myself for the soul of the party. To this point specifically, Pete Buttigieg said very well. Were not just here to fight for the nomination for a democrat. We are here to fight for what the majority of democrats, whether theyre to the left or center or to the right of center within the Democratic Party, make trump a one term president. You dont say things about fidel castro and communism that are good when you call yourself a democratic socialist which some voters are saying isnt just a socialist ergo just a communist . That hurts the party. That hurts the brand and that hurts us with voters especially voters may not like trump or swing state voters, independent voters in states like florida in general election come november 2020. Charles im sorry . Amir, let me bring you back in on that. I see what i saw with elites in Republican Party when trump was winning these states after state, they dissed the voters and i think it was a gargantuan mistake. You know, listen i would think that the party, these folks voting for the idea log, perhaps of a Bernie Sanders, so what does sanders do to get these other candidates to understand maybe this is a revolution that his party wants . The grassroots of the Democratic Party want this . Well i think what leslie and other people in the Democratic Party need to understand this is the new heart and soul of the Democratic Party. This is the new movement that is changing the face of the Democratic Party for better. What we saw in nevada was young people of color coming out in huge numbers. What we saw in iowa was this campaign reaching out to immigrant communities and putting caucus sites in mosques for the first time. What we see in this campaign is a campaign about love and compassion, bring everyone together and it is working. Were seeing the message sort of resonating throughout. Bernie will do well in South Carolina. He will kill it on super tuesday because of this message, not me, us, were all in it together. That is the new face of the Democratic Party. Should get used to it. Charles 30 seconds, last word. Your generation seems to be buying this. I disagree im not that old. It is my generation too. I disagree it is for the good but i do think this is much closer to the heart and soul of the Democratic Party and i think the Democratic Party establishment will make a lot of the same mistakes the gop establishment did if they reject the fact that Bernie Sanders is the presumptive nominee. Anything could happen but if they put their heads in the sand the same way the gop establishment did and push back against their own voters in the same way, with the same contempt i absolutely think that they will find themselves in the losing side of the battle within their own party. Charles something to watch for sure. Leslie, inez, amir, thank you both, all three very much appreciate it. Folks, well be right back. Imagine traveling hasslefree with your golf clubs. Now you can, with shipsticks. Com no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. Sending your own clubs ahead with shipsticks. Com makes it fast easy to get to your golf destination. With just a few clicks or a phone call, well pick up and deliver your clubs ontime, guaranteed, for as low as 39. 99. Shipsticks. Com saves you time and money. Make it simple. Make it ship sticks. Shipsticks. Com saves you time and money. Can you help keep these iguys protected online . . Easy, connect to the xfi gateway. What about internet speeds that keep up with my gaming . Lets hook you up with the Fastest Internet from xfinity. What about wireless data options for the family . Of course, you can customize and save. Can you save me from this conversation . That we cant do, but come in and see what we can do. Were here to make life simple. Easy. Awesome. Ask. Shop. Discover. At your local xfinity store today. Charles substantially lower today after that 1000 point drubbing on the dow yesterday. Claman countdown host liz claman joins me now. Liz, the fed, we heard a little bit from them yesterday. Theyre saying wait and see mode when it comes to the virus but you think maybe with these markets that could change soon . I dont know if you heard, this comes from people who are very much deep into the fixed income world, that there was a rumor running around that the fed might cut 50 basis points intrameeting, meaning dont wait until the next meeting. That would be highly, highly unlikely at this moment, even though were seeing yet another 847point loss on the dow industrials. We saw what happened final hour yesterday. That could happen again, we dont know but acceleration to the downside, still very close to alltime record highs. Within 5 . Yes a correction could be on the way but really need to keep people focusing on perspective here. It is not that bad. Charles right. I will say things are a lot cheaper today. Well bring in steve aut of off of federated. He knows these markets for many, many years. He has got two names, charles, that he says, once this dies down, and hopefully it will eventually, he has got two names that he really feels maybe poised to have a great move. He is going to name them. More importantly, well pick his brain what is going on. We know jpmorgan and Goldman Sachs announced they dont want their employees traveling there. Were looking at nike, under armour taking major hits to their stocks this hour and will the olympics be canceled . There is new report of all of that. Final hour of trade. 12 minutes. Hope youre there. Charles one of these days, in your hour, liz, the market will actually rally. A lot of people looking to buy the dip. I cannot wait to hear what steve has to say. Liz, thank you very much. Tune into the claman countdown, most important hour of the market at top. Hour. Thanks, charles. Charles administration enforcing public charge rule on immigration. Immigrants will have to meet certain incomebased requirements for green cards and some visas. Some say this will hurt the u. S. Economy and others say it keeps tax dollars in more deserving hands. On this topic i like to bring in border commerce and Security Council president nelson balido. Nice to see you. This is controversial. A lot of liberal nations have similar tests if you will for people that go into the countries. Make sure theyre not economic burden but by the same token we have extreme need for workers in some industries they say we dont have here. Thats right. This was 100yearold rule that was updated and if you think about it, i have a cuban background and my when cubans came to the United States through a visa lottery system normally a Family Member had to take charge, hey, this person coming into this country will not be a public charge and has some liquidity. Im saying why not do the same thing . This doesnt stop anybody from coming into the country. I think in fact encourages people to apply, really get their stories straight to assure theyre not a public charge to all of us that pay taxes and certainly been a controversial issue for many years but doesnt harm juice another controversial issue, that the Border Patrol or i. C. E. , rather, stopping buses, trail ways, greyhound buses. Some buses have been stopped millions of miles away from borders. In other words, it is a form of harrassment. Now the Bus Companies are saying they werent allow it anymore. You have a Border Patrol checkpoint at the actual border. Then you have, even if you have them at airports on the border. So now, you even have it 100 miles away from every border checkpoint that comes into the United States. So every bus, conveyance, privately owned vehicle is subject to search and questioning. This doesnt change anything. This doesnt change any of the operations of the Border Patrol or otherwise. Charles right. It may have, what we dont want certainly for the cartels to get in on this thing, start shipping people over the border on buses. Charles which you know has been a means of everything. It has. Charles we have to leave it there because of the market, nelson. Well see you. Obviously the topics are not going away. No, theyre not. 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The power of prevention. Call now to learn more. Charles stocks in the red again even after yesterdays major selloff. Deirdre bolton is on the floor of the new york stock exchange. Hows it going down there . Deirdre not too great, if you are invested in a lot of stocks today. As we saw, the dow was up as much as 180 points in the green earlier. We took a turn and are now down close to 750 points. Of course, this follows yesterday, you have been covering this for your entire show so far, of the more than 1,000 point drop. If you look at the sectors that are really weighing the most heavily on the overall market, it shows you how concerned investors are about this potential Global Economic slowdown. You are going to recognize the sectors. Energy, materials, industrials, these are usually these economically sensitive groups that when were expanding, we show enthusiasm by buying into. These are the ones dragging the most heavily on the markets right now. Quick snapshot. Back to you. Charles thank you very much. For more, lets build on that as we head into the final hour of trading, want to bring in ken mahoney. David nelson is back with us as well. Energy is the number one loser today, down almost 5 . Materials, down over 4 , to deirdres point. Some of these other names, industrials, down 4. 2 . But ken, these have been some beaten up stocks. They were already dogs, if you will, to a certain degree. I bring up the point because a lot of investors want to rotate into something that didnt work yet under the assumption that now its due to work and we find out in these down markets, if you have poor fundamentals on the upside, its not going i agree. You know what, i would rather be with technology, i have been buying on pullbacks. How did we get here in the first place . We kind of went up, we had gap and go days, gap and go days. We left a lot of air pockets there. Charles the term everyone was using was we melted up. Exactly. Here we are on the other side of it. To your point, as far as rotation, i wouldnt want to be in oil. I would rather be positioned in technology when we recover from this, we set up some better charts. I think Technology Led us here and will lead us on the way out the other side. Charles david, we talk, you are on the show a lot, we talked often about valuations and it has been more difficult to find things to buy. This, to a degree, even healthy, coronavirus aside, when you have these parabolic moves to the upside, that they have to give some of that back and is that healthy for the long term market . Sure. Maybe to a certain extent. I dont think anybody likes feeling that. We probably come in a multiple point or two coming into the start of this, we were about 19 times forward earnings. Takes you back to 2004. Like i said earlier, we dont live in a vacuum. Relative to other Asset Classes, with 1. 8 yield in the s p 500 broadly, why would you want to park money in a 1. 3 tenyear treasury . Stocks are the better asset class. Charles there was speculation yesterday, lorain mester said she was comfortable, suggesting there was a sense of urgency at the fed. Obviously 2,000 points on the dow can change your mind quickly. If they were to come in before the next meeting, would that actually make things worse . I wouldnt like that. At the end of the day, the fed is not going to do anything about the coronavirus. This has global panic, we are not exactly sure whats going to happen. One reason we have this problem, by the way, a lot of investors felt theres a godgiven right to see the market go higher. This market is always trying to kick you off, kick you off. You are not supposed to have this rise from october until now. Now the bronco is kicking, so to speak and we need to find our fortitude to hang in there. As far as having the fed bail us out because of coronavirus, thats been very ineffective. Charles we went from that little coin thing in front of the Grocery Store to a real bronco. Thats a big difference. The last couple days have charles let me say, there are so many people coming on, amazing how many stock analysts have become experts on the pandemics but the feeling is right now, when you listen to most folks talking about this, is that its going to be so dire, you want to crawl under a rock. Starting to look like a stephen king novel at this point. Its bad, for sure. Its not going to be as bad here. Countries are closing their borders because they are scared. Theres a political dynamic playing out as well. The fact Bernie Sanders had a convincing win weighs on the market, too. Charles we started to make some moves here. We like rkk, innovation, we like technology. Technology led us and i think technology will charles we should remind the audience, kathy was on tesla probably first and has a 7,000 target on it. You know what . Shes making a lot of people a lot of money. Buckle up. Buckle up. Its a bronco. Charles thank you both very much. Liz claman, down 770 points. Liz it looks like we may see a rhyme with yesterday. We were down about 730 points as we headed into the final hour of trade yesterday. You remember that. Then we ended up down about 1,031. Listen, if you are a bull, you are hoping that doesnt happen but we are watching all of this unfold as the u. S. Health officials sound quite a loud alarm. Brace yourselves for the coronavirus. Markets did not stand a chance the minute that headline hit the tape. As we head into the final hour of trade, there is no real bounce we can tell you about, even after yesterdays 1. 2 trillion wipeout across the major indices. Right now, dow is down 715. S p lower by 76. Look at the