Kenneth will share his story and break your heart and make you optimistic at the same time. All that and so much more on making money. Charles folks, listen the market is rocking. It is off the highs. All over the place. Also a bunch of developments. Vaccine hopes and the cdc saying covid19 can be under control in eight weeks or less if everyone wear as mask. Goldman sachs has blowout earnings reports. Potentially more fed accommodation. Talking about yield controls maybe. S p trying to break out early in the session. Outperforming the nasdaq for the last five days. I want to bring in three of my favorite experts to get thoughts on this action. Katheryne rooney vera, kaltbaum capital management, Fox News Contributor, gary kaltbaum, Ladenburg Thalmann strategist, phil. Astrazeneca back in the oxford study saying theyre having Great Success as well. S market, could we be getting ahead of our skis on the notion that a vaccine is imminent . This weekend i put out a note that the opening of the economy trade was about to rally as it had a big run. Five weeks ago, topped out came right down to support. That is what were getting here. I think this is what is juicing it a little bit. Airlines, cruise lines, industrials, chemicals, you know, stuff like that is doing the trick here. I think at last, there is repercussions though. Extended nasdaq gone insane to the upside. Software over last couple months. Theyre pulling in. Charles one thing i point out every day on the show. Only 100 names are higher. Nasdaq a third are higher. Gary, you mad it on your newsletter. Would you buy any of these things . Royal caribbean up 18 . United airlines up 12 . Any of these worth a shot even as a speck buy . I like the airlines and cruz lines right here. Simple as that. Charles kathryn go to you, are we over our skis for vaccine. Five or six months ago we were told to wait 18 months . Good news is good news, charles. There is bad news is also good news. A couple days good, bad news coming out of miami. Im in miami the epicenter of the universe for covid. Locals are debating. Desantis is getting thrown under the bus. Bad news for the virus is good news for the markets. Markets go higher. Why . Were all banking on the fed. The fed will backstop the markets and the fed will introduce additional stimulus in the event that the virus threatens the economic recovery and the market acceleration. Good news is also good news. My point momentum trade continues. S p continues to go higher. Charles in cases were up 3 . Average is 7 . Well get data out of california. Helped goosed markets higher. Day before goosed markets lower. Blue chip rally, weve been waiting for it. Im not a big fan of the dow, they have only 30 stocks. They have all the good names. They are bidding the knack tag up last five or six days. Kathryn, when people say the market they mean the dow, how important blue chip names, that boeing which is on fire that they kind of take the lead for a while . It is critical, charles. Face the facts, since 2017 s p 500, only five names moved it. Everything else is florida. Big five, facebook, microsoft, google, apple. Right, amazon, these are the names taken us higher since 2017. This is a market that based on tech. Tech continued to move higher in this time period because were so, so exposed to it, so required to use tech. But i think that were vulnerable. Charles right. If in fact the rest of the economy doesnt start to pick up. Charles all right. The bottom line, even great names can be overbought at some point. I want to bring in phil here. Phil, over the last six months i appreciate how you come on the show, you provide succinct guidance, when to pause, when to add. Where are you right now . Maybe to garys point, we have something, even shortlived, changing of the guards, maybe leadership in the dow, maybe s p breaking out finally. That should open the gates for other opportunities. If you look at large cap value, large cap growth, 32 through the year, it is incredible. Some of the names you mentioned like a caterpillar or some names we gotten used to like home depot the core economy stocks they have been underloved for a while. So what you want to do in a market like this, buy Balance Sheets that are going to provide stability and make sure you earn a little money and a little dividend along the way. First time in a long time, start to see beginnings of a rotation in the breadth of the market, number of stocks doing well widen out. Youre right. The top 10 stocks in the s p are up 10 this year, almost 12. Bottom 50, youre still down 40 . In that scenario, what i want to do, want to buy good names still not too expensive. Some of those names like a costco. While it has been up recently i still like that name cause it is a core economy stock that should do well regardless what happens with the virus next few weeks. Charles talk about the Federal Reserve. Governor brainard yesterday, right around 2 20 had this conference call. Only 130 people on it. She said the central bank may need to pivot to accommodation. Gary, you probably want to blow your lid, she was also backed up today by boston fed president rosen again because he is echoing the same thing. Maybe yield controls. Maybe forward guidance. Maybe negative rates. But looks like theyre really doing something with this tool box. What are your thoughts . Im glad i havent eaten in a few hours. Look, unfortunately if the market drops 10 they will print more money. If it keeps dropping, they will print more money t never ends. For the life of me i dont know what theyre doing. This is not economics 101. This is market control 101. It will end very badly when all said and done. They think they are heroes because every time they do something market goes higher. They create bubbles, screwing savers with 0 interest rates. I dont think they will go to negative interest rates. I think they buy stocks. Print infinitum. Ecb doing same thing. Charles they willed have yield controls. Kathryn, about a minute left. Sure. One of my bull themes that were all going to change our behavior. Almost everyone will wear a mask, better part of valor, or forced to. Retailers are jumping into the fray. Help with some closings, getting open back again, getting back on track with an attempt for a investment shaped recovery . I think were in a vshaped recovery. My question if it turns into at third leg after w. Go back to what gary said, completely right. Completely right. I will add one thing to your show, making money off this trade. The fed is going way above and beyond what the dual mandate is requiring it to do. Way beyond. Therethere will be repercussionf of it. Ford bonds. It is only Investment Grade the fed is buying. It was recommended two months ago. Up 15 . You can buy fallen angel bonds the fed will start buying to make you money. Charles love that point. Especially when i had to send in more money to to the irs to pay my taxes. Phil, last word, most important things investors should know right now. They have an opportunity to invest money in Quality Companies because real quick, when earnings rate on the s p 500 is 400 higher than the 10year u. S. Treasury, it means buy stocks. Get a commands to buy good companies. Enjoy the ride the rest of the year. Charles all right. Three of the best. We were blessed to have you all today on this really crazy day in the market where we do have a major breakout in two of the big indices. Kathryn, gary, phil. Appreciate it. Still to come atlanta fed president Rafael Bostic, that the america has moral and economic imperative to end racism. We got to ask him about that. We are a nation in flux facing countless unknowns but the economy is trying to make a stand during this pandemic. Im going to share with you pockets of strength happening that no one else is telling you about. Ill be right back. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles you know, folks, our nation is in a peculiar state they never dealt with before, as many parts of our lives are in flux, right . Including when can our children go to school . Will everyone go back to work . If so, where will they work . Where will we live, what direction will we choose for this increasingly divided nation . Even with all the moving parts, the fact is most of us dont leave our house. When we do we cant roam very hard. Which leaves us as in flux. With the nation in flux and the economy is trying to take a stand. So far it is much more successful than anyone thought it could be. Im not only referring to the strong employment numbers. There are pockets of strength that continue to give me hope. I want to share them with you. This morning the new york fed released its Manufacturing Survey results. The state of new york came if substantially better than expected. Empire state Manufacturing Survey hit 17. 2, the highest since november of 2018. The Housing Market is on fire. Weve seen strong spurts with starts and permits for building. The only thing really holding the industry back is a lack of supply. This is underscored with a report that 54 of homes that replaced on the market saw bidding wars. Farming is one of two industries that has seen yearly car load gains and rail traffic. Yesterday china booked the single biggest day of u. S. Corn purchases on record. I want to say that again, its single biggest day ever, the second massive deal for corn in less than a beak. Motor vehicle carloads from the rail operations they saw increase of 1065. 12,152. We know used cars have been absolutely on fire. This in part because of the exodus to the suburbs. It will be a boom probably eventually for the entire industry. I know pain, fear, uncertainty permeate this nation. Why i think Congress Needs to err on the side of going big with the next round of stimulus, but the stock market is indicating things will get better. More and more Economic Data corroborates the message. Stay strong, stay safe and stay optimistic. One New York Times centrist writers sent scathing letters, that twitter has become its ultimate editor. What is going on at the no, times . We have details. Next, atlanta fed president Rafael Bostic safes ending racism is a moral and economic imperative. He will sit down with me for a frank conversation you wont see anywhere else. Well be right back. Charles one fed president going beyond his call of duty to the economy and focusing on ending racism in america. Atlanta fed president Rafael Bostic in a recent essay writing that the country has both the moral and economic imperative to end racism and he joins me live now. Thanks so much for joining me. I do want to say in your essay you write about the history of institutionalized racism, slavery, federal laws, sanction, intimidation, jim crow lines, red lining by banks, racial profiling by police. You do alsoing a knowledge legal remedies happened over the year but there is a still a legacy from all those things. Can you share with the audience what you mean by that . Sure. So much of our economy and our experience in the economy are a function of the relationships that we have as well as the wealth that we have access to. What we know is that all of the structures that you just ran through, have made a far less likely africanamericans and other ethnic main north would have the relationships have access to high quality schools, have access to familial wealth handed over for generations. As you know, familial wealth gives the first step to Small Business creation and entrepreneurship. So many different ways the arc of our history has made it far more difficult for africanamericans in particular to be able to have as vibrant an experience in the American Economy as the majority white population has. And what that means for us, as central bankers and as monitors, watchers of the economy, is that our economy is actually smaller than it could be. If we unleashed that potential, if we unlocked it, that would lead to new innovations that could really translate into stronger growth and a more resilient economy. Charles you know were a headline driven nation. If you were able to quantify that. Say we became a Colorblind Society and all those things began to be remedied, what kind of prosperity would that be . Were talking about prosperity for all of the nation, right . Thats right. This is about full inclusion to really pull in people who are really not been attached to the economy as strongly as they might be. It is interesting that you call out china quantified this. Talking with some of my graduate students. Were actually going to start a project to try to go about that exercise. I think it is actually a good question to really try to make it concrete so that we do have a real understanding about what the cost of this has been to all of us. Charles all right. So you say that there are three areas where the Federal Reserve could actually help. I understand promoting the Overall Health of the the u. S. Economy but troubled a little bit how the fed might address income and economic inequality, when many folks saying fed policies fueled this huge gulf between the rich and poor. How do you, you know, square that . Well, first of all i think it, one of the things we can do as central bankers and Federal Reserve is really draw upon our network of experts to speak to some of the barriers and challenges that have been put in place. How do we get people real access to job tripping and skills that make them competitive in todays workforce . How do we create an educational system that creates the right incentives and strong incentives for all students to think about participation in finance and math and science, sciences. So we have lots of things at the structural level that created problems and the fed through our research network, through our researchers has really tried to identify ways to succeed in that space and really help increase and improve the inclusion. You asked a different question as well, how should we think about the long legacy of discrimination, how it has created imbalances and what our policies can do to promote that . I actually think that is not the right question to ask. The really right question to ask is from this point forward how are we going to, all of us try to address this issue, to give people who have been less attached and less engaged a real fighting chance to sort of close those gaps. That is something that im committed to working towards and a lot of my colleagues as well. Charles but when you talk about the legacy and Family Wealth and generational wealth, a lot of that is tied into assets and like homes and the stock market. People are suggesting, if you think how the market reacts to favorable fed accommodation, when it goes up trillions of dollars, were in the midst of a 10 trilliondollar rally in the stock market, does that feel the resentment that comes from income inequality, if so, is there Something Special the fed can do to counter that . So i think that this is going to be something that requires action by the fed. Certainly were rethinking how we do our monetary policy. I would just caution that our objective is not to try to shrink the economy or slow its growth on behalf of subpopulations in the country but it is also going to require attachment and engagement by a lot of policymakers at many levels of government who control the decisions that shape how the schools work, how job training works, how we think about what reasonable job search should be. So that we, all of us, take responsibility to move forward and try to close these gaps. The fed will do stuff. You dont have to worry about that. My bank is really committed to reducing the challenges that many have today about economic mobility and resilience. Weve taken that on as strategic priority. Were going to continue to push those things forward. Charles let me ask you a little bit about policy. One of your colleagues, brainard, suggested that the fed may pivot to a combination, a, makes you want to chuckle if you havent been accommodative thus far. What is next . Yield controls. You voted for rate hikes in 2018 when you were a voting member. Everyone of them. You didnt like the rate cut in october. Curious where you are on the topic of where rates should be particularly in the midst of this pandemic. Right now i think rates are at the right place. They are exactly where they need to be. We have in this pandemic, an unprecedented threat to the economy. We want to make sure, i think it is really important we make sure that every tool that is available is used to create bridges that can help preserve the fundamentals that we had, the strong fundamentals we had in place before the crisis. What were doing right now, and my bank and across the system is were talking to leaders, were talking about business leaders. Were talking to Community Members to see where they are right now. To see if there is evidence we may be weakening, could be at risk. If they are, i am pledged to and committed to talk to policymakers, tell them where they see the weaknesses. If there are responses the fed can do to preserve those people and provide relief, i will be fully supportive of that. I would emphasize, when were past this, i think it is important that we step back and try to get to a more historically normalized position in terms of our policy stance. Charles yeah, we wonder what that new normal will be. Rafael, thank you so much for your time. It is admirable position youre taking. Well be watching closely. I cant wait to hear about some of the results youre doing right now. Thank you very much. Thank you. It has been a great pleasure to talk with you. Charles same here. Meanwhile folks, the world appears to be joining President Trump when it comes to pushing back against china. The uk overnight bans huawei from their 5g networks. Other countries pushing back against beijings treatment of hong kong. Secretary of state mike pompeo saying moments ago, hong kong will be high on his agenda when he meets with britain and denmark next week. Is it time for the true global opposition against communist china to go continue and press for real change . I want to bring in Fox News Contributor deneen pour really. Borelli. Deneen, a lot of things people said a year ago that President Trump were disruptive. Big business were scared as hell because they would lose a few pennies on their profit margins. Hollywood certainly getting all the funding from chinese days. Amazon says, we dont want tiktok. Now the uk saying we dont want huawei. Australia is saying we dont care how much economic retaliation would be we want answers on the covid virus. What do you make of this dramatic turn around . Well it is interesting how this turnaround is coming about because they have all these issues right on their doorstep and heres a news flash, charles. Democrats arent the only ones who dont want President Trump reelected. China has huge problems by what President Trump is doing holding to the America First agenda. You look at china under obama and biden under the former administration. They allowed china to walk all over the United States and all over the world. With the u. S. , for example, unfair trade practices. Stealing intellectual property. Their technology is risky and not secure. So, President Trump is sounding the alarm and he is working with these world leaders, working with these countries to not trust china. Charles you no the bottom line though is that this push is not without, wont have, is not without the potential of negative economic consequences. Earlier today, when beijing called the u. S. Ambassador, the Dow Jones Industrial average was up almost 400 points t almost went negative on that news flash alone. President trump saying at this moment he wont sanction officials in the chinese government. Some are calling for that. So its a delicate balancing act. If we go into this fight, we know were not going to come out of it unscathed. Is it still worth fighting . Well look, this has been a longterm issue, charles and what President Trump is doing, a, at least he has highlighted this problem and put china on the map. B, he is taking steps to keep America First agenda first. So with the sanctions and all the other policies and issues that are hammering on china, this has been a long problem and it is not something that can be solved overnight but we are seeing the results in terms of what the president is doing in concerns of keeping china accountable. Charles the whole world now jumping on the bandwagon. That is something to see over the last year. Deneen, thank you very much. Thanks, charles. Charles meanwhile, folks, fallout at the New York Times as one much their centrist writers resigns calling her civil a victim of a new mccarthyism in a scathing Resignation Letter. So has the cancel culture ended free speech . Its a serious question and well discuss it next. From fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Charles debate over oped pages escalating folks as one of the New York Times opinion writers, editors, centrist, bari weiss resigned citing rampant bullying at the paper. What an exmost schiff claim, ashley . We always knew the New York Times was liberal but as Michael Goodwin of New York Post said we didnt understand how bad it was. The Resignation Letter by bari weiss opened up what it is like to work there if you are indeed a centrist. She said look, having to work as a centrist at an american newspaper should not require bravery. She basically said the paper, New York Times, operates on the premise that only few enlightened individuals can inform the rest of us. Stories are chosen in a way to satisfy the narrowest of audiences, rather than to allow the curious public to read about the world and draw their own conclusions. The paper of record is, more and more the record of those living in a distant galaxy, one whose concerns are profoundly removed from the lives of most people. Now you and i, charles, have been saying that for years but that is from a centrist opinion writer. Now weiss has also spoken out about the cancel culture before all of this. She signed an open letter with dozens of other writers published in harpers magazine ad advocating free speech, the ability to have differing opinion. The New York Times came back from a statement, this from kathleen kingsbury, the acting Editorial Page Editor, she said in part we appreciate the contributions bari made to the times opinion. Im assuring that the times continues to publish serveses, experiences and viewpoints from across the political spectrum in the opinion report. Really . That really rings hollow, does it not, especially in the aftermath of the oped written by republican senator tom cot ton. Dont forget the paper first defended and ultimately did a reversal and Editorial Page EditorJames Bennett resigned. They are happy to put the opeds by the taliban, Nicolas Maduro but god forbid a republican u. S. Senator. Charles, back to yous. Charles thank you very much, ashley. Industrywide, folks the conversations have become more hostile amidst this rising cancel culture. I want to bring in iwf senior policy analyst kelsey bolar for more on this. Kelsey, your thoughts on it. If anyone gets a chance read the Resignation Letter. It was scathing, hardhitting, but i think something needed to be said . Absolutely. I couldnt agree with you more and if anyone watching this hasnt read that letter i highly encourage them to do so. You know i think a lot of americans might say, hey, we knew there was a bias at the New York Times, what is new here . What we also learned inside of that letter is that barrie weiss a facing a lot of personal harrassment because of her viewpoints. This is no matter what political perspective you come from, nobody should stand for in the work place. The fact that a centrist is facing this type of harrassment makes you question what conservatives would face for working there. Of course at the New York Times there is not a single fulltime staffer who writes anything positive about President Trump which is incredible coming from the nations most prominent newspaper. They told us in 2016 they were going to do an aboutface. She was supposed to be part of this solution. Now she is saying, she cannot work there anymore. It is not an inclusive, diverse environment. I think it should be a wakeup call for the New York Times but unfortunately im not sure anything will change. Charles you know the media bristles when President Trump gets angry at them. One of his tweets or comments he makes but it is hard to ignore the fact they have gone to war with President Trump. It has skewed reporting so badly, the amount of retracted statements and comments and articles, i have lost track of. Bari says a new consensus emerged in the press, perhaps especially at this paper, that truth isnt a process of collective discovery but orthodoxy already known to an enlightened few whose job is to inform everyone else. Talking down to your audience and explaining instead of discovering things for them, youre explaining to them. No, handful of us know right from wrong and there is no other way to go about this job. Right. I want to be clear that although conservatives including myself are very critical of the New York Times and other mainstream news publications we are not advocating to cancel these publications. We want to challenge them to be better, to be more inclusive, of different opinions including my own. Unfortunately with bari weisss resignation that is one less editor to consider a column from any sort of centrist or conservative. So this does have lasting implications and i think it is just one of many examples we can point to in the cancel culture where you know, these illiberal twitter mobs are dictating the type of conversations we can have as a nation. Charles yeah. Yeah. Cancel culture goes cancel journalism, kelsey, thank you very much. Thank you. Charles folks a Central Texas county is trying to lure tesla to build a factory there and theyre approving millions in tax subsidies to the electric carmaker. The question will this push help the city in this competition. I want to bring in cheryl casone. Here we go again. Million of dollars to lure a big factory, cheryl. Cheryl they have a pretty good argument. This is austin, texas, pretty cool as someone from texas. This is travis county. Unemployment is 11. 8 due to the coronavirus. They could argue they need jobs like many places do. This is a 1. 1 billion man will build there. They are making cyber trucks, charles. There is honestly competition. Tulsa, oklahoma would like tesla to build there if youre going to go from california, move from california somewhere, austin, texas, is a pretty hot town and pretty fun town. Obviously living in texas you get the great tax breaks in general. Its a lot cheaper to live in texas because of the tax situation. Charles yeah. You know, listen, im kind of, i know youre from texas, i have a lot of friends in texas, im rooting for tulsa, im rooting for the underdog in this. The question, people get upset when these sort of subsidies are thrown at these companies. Cheryl yeah. Charles obviously they will not stay in california because there is such a hostile Business Environment but you dont have a problem with the subsidies, do you . Cheryl the tax subsidies are being offered actually about 14. 7 million, that the county is actually offering to tesla. That is a pretty big chunk of change but remember this is Dell Computer land. This is a big hub for technology, austin texas. They know how to bring in big business and know how to cater to big business. I think austin have a better track record. Am i a little bias . Sure. Well see what elon musk decides. Charles bottom line you know it will not be california and there is a lesson to be learned there as well. Cheryl, thank you very much. Cheryl you bet. Charles as calls to defund the police storm across this country, at the white house, one man described his road to recovery and he credited Law Enforcement for giving him the opportunity to help other addicts. Wait until you hear his story. He is next. You get to help others along the way, because of Police Officers, because of people who helped me along the way, and im truly grateful to be here. Free access to every platform. Mhm, yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. Now offering zero commissions on online trades. We charge you less so you have more to invest. [ind mom ct radio chatter] come on, hurry up all systems go . Mission Control 5 4 3 2. And liftoff. vo audi etron. The next frontier of electric. Get audi at your door Remote Services through participating dealers. Simon pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. Touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. I appreciate what makes each person unique. Thats why i like liberty mutual. They get that no two people are alike and customize your Car Insurance so you only pay for what you need. Almost done. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. At the age of 11 to 24 i have overdosed over 30 times and at least a dozen of those times i had Police Officers there on site administering narcan, saving my life. Charles recovering addict Kenneth Bearden sharing powerful, personal story of President Trumps roundtable, on people postively impacted by Law Enforcement and he joins me right now. Kenneth, it is not just the police, Law Enforcement part of this, the fact you struggled with this at beginning of age 11. I can tell you in my town here in new jersey, i had a young man died in my yard seven years ago. His mom called him a gentle giant. He wandered into our yard and he died in our yard. Tell us about your story because unfortunately its a story we dont hear more than we admit. Im Kenneth Bearden. Im from louisville, kentucky. Like you just heard, what i told President Trump, at the age of 11 i started using substances and, i had overdosed seven times by the end of that summer. When i look back, into active addiction i had, i had overdosed over 30 times and really i was always trying to fill a void and to feel different. I had this uncontrollable craving that i just could not ever feed enough. And, you know, im really surprised of the impact that this has on everyone. You know, i thought that, i didnt realize that this was such a huge problem nationally. Charles right. You talk about a void go ahead . Charles you talk about this void, this void that you were missing. I think, i and i feel like in this country there is a stigma that was attached to drug abuse and the rehab process. I feel like that is going away in part because this is not about weakness. It is about a certain kind of void, often has nothing to do with the drugs themselves but i think you alluded to the fact that it fills that void. Talk to us about that. That void, so, you guys heard im in school for social work now. I have done a lot of my own work and a lot of my own therapy on my trauma. These, these traumatic instances that happened in my life, whether it is a huge severe trauma or even a small trauma, all trauma is the same. Until i got into therapy and really started to look at the underlying causes of and conditions of why i felt the way i felt and why i needed to change the way i felt, i had little to no hope. Charles right. Well, ken, youre giving a lost people hope. I know youve been sober for six years and youre helping others. We appreciate you taking time today. Thank you very much, kenneth. Yes, sir, thank you. Charles folks as we head into the final hour of trading it has been a really exciting session. Now were feeling like a coiled spring. We do have the blue chip rally. We had a lot of good data coming out. So whats the last hour going to look like . Well set you up when we come back. Usaa is made for whats next no matter what challenges life throws at you, were always here to help with Fast Response and Great Service and it doesnt stop there were also here to help look ahead thats why were helping members catch up by spreading any missed usaa insurance payments over the next twelve months so you can keep more cash in your pockets for when it matters most and thats just one of the many ways were here to help the military Community Find out more at usaa. Com i was blessed to be part of building one of the greatest game shows in history. During that time, we handed out millions of dollars to thousands of contestants. And i thought, what if we paid the contestants their winnings in gold instead of cash and prizes . 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A couple came up and handed me a brochure on prevagen. Ive been taking prevagen for about four years. I feel a little bit brighter and my mind just feels sharper. I would recommend it to anyone. It absolutely works. Prevagen. Healthier brain. Better life. Charles all right. Stocks are pulling back as we head into the final hour of trading. The market, though, has had this upward bias but it keeps meeting very rigid resistance and its a serious battle so whats going to take us over the top . I want to bring in mahoney Asset Management president ken mahoney. The second time this week the s p broke through momentarily that key resistance point, it gave it up and as soon as it gave it up, it pulled back sharply and feels like theres a certain intensity here, particularly as we leave the comfort of those tech names and try to get leadership elsewhere. What are your thoughts on all of this . Yeah, so we are very techcentric, we love the technology etfs, we lead with that but again, it is actually good not to rely on five or six stocks that make up the stock market. I think the wall thats created is concerned about a biden presidency, quite frankly. Last week what he said about the stock market and so forth, Capital Gains rate of 39. 8 , and how would you like treasury secretary warren as a name . So you put it together, this runway is only three and a half months from now and you know, i think its kind of nervous. Maybe the markets factored in a biden win but republicans hold on to the senate, so its a check and balance but i dont think the market will melt up until we get past the election. Charles so maybe sideways because we are getting good data, right. Earlier in the show i talked about, you know, the manufacturing data, the housing data, and some of these other things that go underreported. Then moments ago we heard chipotle, that stock made a nice intraday reversal. They are hiring 10,000 more workers, handling the digital side of the business, so we have got pockets of strength in this economy, but maybe not enough even with the vaccine news to get us over the hump, just a side ways market into the election . I think so. We get a big whoosh a few weeks ago, put some chips on the table. We like the nasdaq, we like qqq, arkk is one good way, mentioned that a few times on the show, of participating in tesla with part of the money because of course arkk buys innovation like roku and so forth but at the end of the day, thats leadership, we are always back to leadership. We saw monday the nasdaq up 200, it fell 200, right. You start picking your spots. If you are nervous about technology, use a trailing stop loss order. Also, set some bids underneath the market if the market gets kind of dicey. Charles some of those stocks can move at 10 clips. What kind of stop loss you going to use on them . By the way, i hate getting stopped out of a stock and two days later its back to where it, you know, a new high. Yeah. Our Core Holdings are qqq, xlks, mostly technology. We have twothirds buy and hold. Dont mess with the stock godz. We will buy the dips we had a few weeks ago but youre right, guess what, everybody is good at buying something. On your show some great stock ideas. Read the newspaper, great stock ideas. But nobody has the sell discipline. I think having a stop loss or maybe trailing stop, maybe half the shares, gives you some type charles all right. We got it. Ken mahoney, ride the winners while they keep winning. Tech names keep going higher. Appreciate it, my friend. Also, stop losses. Liz claman, the markets look like theyre waiting for something. Bet it comes in your hour. Liz they are waiting for you to finish and me to start. Let me tell you something, charles. We [ speaking simultaneously ] liz thats right. Well, they are waiting for a lot in this hour, most importantly perhaps an announcement the president is about to make. So yes, we are watching the nasdaq which is up 10 out of the last 12 sessions. We are watching tech stocks very closely but we are also all over infrastructure names, materials, heavy machinery, industrials, because if you own them, they could very well get a boost in this fin h