Hey, well be open thursday at 5 00. They couldnt bring themselves to say thanksgiving. They just said thursday. Even worse, as many of them opening on thursday arent closing. Theyre going to open all night into friday, a marathon period. Well be there, by the way, on friday. I cannot believe shes got me going to a mall on black friday. Look, i think there will be a little more foot traffic in that Shopping Mall than down here on the Stock Exchange on friday. We have that coming up. All kind of stories to tell about you on wall street. And a couple of big interviews. American apparel is one store that will be open, and many other locations, why . Well ask the ceo when he joins us after the closing bell and well get his take on how the season is shaping up. Do you know where you will not get a deal right now . That would be on bitcoins. The Virtual Currency trading above 1,000 now. I mean, its just nuts whats gone on here. The bitcoin has quadrupled. It started out at 210. I was going to say, its a deal for those that already own bitcoin, even if everyone else is looking at it with a raised eyebrow. Come on. Its a bubble, right . But if you have a finite supply of anything and enough people pile in and you can use it and exchange it for other items, i dont see how you could possibly call it a sell right here. Dangerous ill call it a sell. Ill call it a sell. Quick look at indexes as we head into the final hour of trade. The s p up three point or so. Nasdaq up 24,039. Looks like were headed to a fresh 13year closing high for nasdaq and alltime highs at 1805. Lets talk about it in our closing bell exchange, Peter Anderson from Congress Asset management, jim key, kevin, and our own rick santelli. Kevin, are we you know, we talked yesterday about how so many people are bullish which made my palms sweat to some degree. Youre feeling a little cautious in the near term, arent you . The market has had a fantastic run. Were up 25plus percent this year. I think most of the strategists this year got it wrong by a pretty wide margin. Luckily the error was to the plus side for the stock market. So, i would just say, look, this still is and will be part of the equation for investors. The fact of the matter is, earnings havent caused this. A drop in Interest Rates havent caused this. The real thing about this is investors have become very comfortable with the world. While i think you enjoy it on the way up, its having a wealth effect thats feeding back into the economy. You want to make sure as you go into 2014, youre thinking about quality, consistency and value in all the stocks you own in your portfolio because risk is not gone from the equation. Im not sure, peter, investors have to be that discriminant. The wall street journal pointed this out today, were seeing an historic high in the number of companies rallying this year. Do you expect that to continue or are people going to have to get more selective . I think people will start to get more selective. Youre absolutely right. So far its almost been an indiscriminate rally. The good part of that is that valuations are not too high. The bad part is were still really kind of on tenderhooks in the fact that some stocks in certain portfolios i trade stocks all week this week. Im surprised at some of the hits that weve seen based on some slightly weakened earnings. Its a very mixed picture right now. You do see this rally, this strength and rally like you asked earlier, but i would push back a little and say, its not all roses out there. There are still some stocks taking arrows to the knees because they might have missed earnings by a couple cents. I dont think thats a fair picture. We are getting a little more skiddish when those reports come out. Jim, i cant remember the last time we had a 10 correction in this market. The pullbacks have been 5 at most. And then they buy that dip. But you think i mean, were due, dont you think . Yeah, absolutely. While the odds are greater than 50 for a pullback or possibly a correction of 10 or more. But theres a lot of opportunity for that in finding Growth Stocks that displayed defensive characteristics. But we do expect the indices to end the year higher. We just think there will be a pullback. Lately the action is in bond markets. Credit where theres a ton of iss issuance. Is that contributing to any nervousness . The Interest Rate boys arent nervous about it. Investors are comfy with globe with dynamics that shouldnt continue. It should be tolerant. Todays sevenyear auction was very, very spotty. Why . Because anything beyond the fiveyear isnt deemed to be under the anchor of the fed trying to keep what Interest Rates it can control low. The sevenyear wasnt low. Investors didnt show up. Even though the yield curve didnt steepen today, as a matter of fact, fives to tens, fives to 30s, they came in a bit. Thats a mean reversion trade. Keep an eye on the japanese yen. At the end of the day, what some call nervousness is just an impending sense of reality, how it pans out is the reality. What is the gamble . Anybody want to buy a bitcoin . 1,000 for bitcoin . Come on kevin, what would you buy here, anything . Were looking at the portfolio. Things have become harder to buy, to be frank. What were doing is going through the Portfolio One company at a time and saying, is the price right. If the stock were difficult remember, were five years into a recovery here. Its not reasonable. If you have a three to five time horizon when you want to be an investor, you have to think that company may run into hard times. While the sun is shining, fix the roof, make sure you have quality, consistency and value. I think youre okay. Peter, i want to talk briefly about valuation here, too. Theres some talk whether theyre high or moving up over the next couple of years, and if thats the case and prices were seeing are on multiple expansion, that cant be a good sign, can it . No, it cannot. Were talking about stocks being so high right now. Let me give you a specific counter example. Lionsgate, for instance, theyre responsible for hunger games part two, catching fire. They came out last week. They would ignore that data and push lionsgate up further, 10 . There is some rationale in the marketplace. I just dont think were seeing it on a wholesale level the way we normally do. It was unusual to see that. Obviously hunger games caught fire over the weekend but they caught flames on monday. You just did that. He teed it up there for me. Thank you for joining us. Happy thanksgiving. Same to you. Happy thanksgiving. So, the overall youll get used to it. The overall markets may not be moving much but certain stocks are. Dominic chu are following those for us. I saw what bill did there. I just want to say it for the record. Thanks, guys. Lets kick it off. Shares of hewlettpackard surging, beating sales and profit expectations. Meg whitman says the turnaround plan is on track. This time analog devices, one of the biggest decliners in the s p 500 technology sector. This is the maker of signal processing circuits and chips. Reported profits that Beat Estimates but sales and Current Quarter forecast disappointed there. Those shares to the downside. And in the Holiday Shopping spirit, lets take a look at zales, posting smaller than expected loss for the quarter and same store sales were up 4. 4 , but investors are pushing this stock lower. Remember, zales, a stock up 240 so far this year. Back over to you. Holy cow. Crazy, isnt it . Jewelry space, amazing. Thanks very much. About 45 minutes left to go into the close. Dow beginning to climb. Its up now 32 points. Were looking, as we said, at new highs for the s p, for the dow and 13year highs for the nasdaq. Speaking of retail, luxury or low end. Which will dominate this Holiday Shopping season and what does that say about our economy . Well look at that coming up. Well get the outlook for holidays from one of the most outspoken and controversial ceos in the retail business. American apparels dov charney. My worst nightmare. I cant believe im going to the mall on black friday. Dont miss a special issue of closing bell. Well give you a real time look how shopping is unfolding. The mall at short hills and it kicks off at noon on friday. A special time for closing bell. Because the markets do close early at 1 00 eastern time. At least you can get some Holiday Shopping done. Think about it that way. What are you shopping for . Im getting a tesla. I might try to drive one. It will be interesting, well be at the Shopping Mall that has the Tesla Dealership right there. 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Call 1800ishares for a prospectus, which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Is this me . Its me, isnt it . If you want it. Retailers are less than a day away from being off to the races this Holiday Shopping season. In fact, for many it starts tomorrow on thanksgiving. I know. Just feels weird, doesnt it . What kind of shopping season should we expect this year . Noted retail analyst says the highend retailers are posed to be the big winners this season. Also with us is the managing director of Global Research for experian Marketing Research group. Welcome to you both. Thank you. Talk about this luxury story a little bit. Weve seen some outperformers in terms of tiffany. Who else would benefit going into the season . Tiffany, bloomingdale, division of macys. Macys will also do extremely well. And youll have the other highend department stores. Nordstroms do exceptionally well where downscale were seeing all the discounters struggle. Walmart, target, shopko, kmart. Midtiers, targets and sears, profitless. If i read this correctly, explain this more. Amazon, within the retail 500, its market share has increased from 15 of visits last year to 25, almost 26 this year. Thats a huge gain. Whats going on here . That gain is correct. What weve seen happen with amazon, theyve been incredibly aggressive in terms of getting traffic to the site, getting consumers, offering discounts. As a result of that, theyre really drawing the consumer there and increasing market share as a result. As bert suggests, are they making any market share there . Thats the big challenge for all retailers we track in our retail index. They might be attracting a lot of traffic but are they making margins . Heres the key this Holiday Season as we go into this holiday. Consumers if you look at them, only 57 of them are incented by deals. A lot of retailers are offering deals across the board. The winners that can offer the trying are based on it but dont offer it toe those that dont need them. At the same time, amazon is almost becoming or positioning i was as a luxury play, trying to go after that space. Would you include them as one of the potential winners here from maybe both of these trends . Kelly, youre completely correct. Amazon wins as predator. Amazon wins as luxury retailer. Amazon sweeps the doubleheader along with luxury, as you referenced. The losers will be the low end. Tell me about that. You think walmart is in deep trouble. Why . Their Research Team has been fanning out to Walmart Stores. They didnt do the traffic last month, last week, last weekend, so far this week. Theyre only staffing a few registers out of the 28 to 30 plus they have in the stores. There arent the compelling deep discounts in the Walmart Stores so shoppers are outsmarting the stores and waiting for deeper discounts. Also walmart alienated shoppers by not having door busters available for the full day. This time only available for an hour. And more shoppers are moving to amazon. We will get back to the management question. To this point, heres what i would love to know. Is walmart struggling because the core consumer struggling or struggling because of operational, execution issue that bill was referencing . If we look at walmart numbers, theyre doing well in terms of placing online visits. I think its more important to look at the consumer in this case. We heard the Conference Board come out with their numbers in consumer confidence, lowest in seven months. We find that its the highend consumer, the consumer thats more affluent, is the one month positive about the economy. In fact, those earning above 150,000 a year are 14 more positive than they were a month ago. Consumers less affluent are dropping in confidence. Consumer Credit Ratings are going up. Its healthy going into the Holiday Season. As a result, the extension of credit to consumers through rising limits is increasing. Were reaching a high point in terms of kashdz. 20 year over year increase. Highest since 2009. Consumers have more to spend, across the well. That bodes well for discount retailers and luxury retailers. Do you read anything into the timing of the announcement of this change at the top for walmart here . Definitely. Walmarts shelves are not stocked. They dont have sufficient labor in the store. You cant sell from an empty shelf. To bring more confidence to the marketplace or what . More confidence to the marketplace because for the first time in 12 years, walmart has a store operations person and a merchant running the company instead of people from h r and trucking who know how to cut costs but dont know how to drive and increase consumer demand, which has been walmarts problem for a look time. Very interesting. Well see if that makes a difference coming out of the holiday period. Have a great one. You too. Heading toward the close. 40 minutes left in the trading session here. Dows up 29. S p still above 1800. Any positive close for those two alltime high again. Thats right. Amazing. Especially the lack of attention, frankly, being paid to it. What an amazing year for amazon. The stock rallied again today. Coming up next, well hear from someone who says investors should take profits and get out of the stock before it comes crashing back to earth. Really . Ahead of the shopping season . Hell make his case. A new survey finds more people desire a Technology Gift more than anything else this Holiday Season. Which company would stand to benefit most, you ask . Well look at that later on the closing bell. As we head to break, heres a look at the Holiday Travel scene. Theres cleveland, ohio. Do we have our courtney tracker up . Got all the cozies. [ grandma ] with new fedex one rate, i could fill a box and ship it for one flat rate. So i knit until it was full. Youd be crazy not to. 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I didnt know the coal thing was real. Its very real. David rivera. Rivera, david. [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. Its the store nearly everybody will be shopping at in some fashion this Holiday Season. Were talking amazon. Should nearly everyone have that stock in their portfolio . Lets have a stock brawl. Gloves off. Louie thinks it has a terrible risk averse trade. Louie, we have to start with you. Amazon is a stock and a story everyone seems to love, so why are they wrong . Listen, a mentor once told me, fall in love with your sweetheart, not a product and service and stock behind it because shes guaranteed to love you back. Im sorry, amazon is not guaranteed to do that. If you look at it, the valuation is completely unjustifiable. Even if you look at operating march begins, a massive countdown to implosion. They have operating margins below 1 . Walmart boasts better operating margins, 5 or 6 times better. While everyone must think this is a must own technology because they Love Technology stock because they love the products and services, im sorry, i dont think it is from risk versus reward. Victor, that is the classic argument against amazon. They dont turn a profit consistently. I hear that argument all the time. I think amazon is one of the best in Class Technology companies on the planet. It is one of these generational stockses, i think, that all Growth Investors should own in a portfolio. A high multiple stock but its supported by multiple different growth propellers. Number one, actually four different growth propellers. Number one, taking share in ecommerce as well as retail. 8 of retail ecommerce grow into 50 by 2015. You buy into that stock, you buy into that growth curve, up and to the right. You compare that to other Technology Companies and growth curve is going the opposite way. You think shares going to 15 or 50 . 15 . Thats a doubles. Its a huge doubling of the growth curve for amazon. Number two, youre buying into the fact that amazon essentially owns the Cloud Services business it operates in. It has a significant share. Im projecting roughly 3 billion in revenues for aws in 2015. In 2013 and tripling by 2016. Those are all great forecasts and predictions about growth in the future and its a promise one day hopefully amazon grows into its valuation, but the fact is, amazon has one competitive advantage. Thats simply low cost. Im sorry. Thats not an advantage you can keep forever like you do luggage. Ask china. Theyre losing out and being supplanted by vietnam now. Theres already signs amazon is losing pace, too. A study back in august by bb t found bed bath and beyond beat amazon by prices on a basket of 30 goods. This is a Great American entrepreneurial story about how they built a revenue model, without a shadow of a doubt. You put your finger to. Thats it to this point, he has built a revenue juggernaut. As long as that story and revenue proceed jekdzs continue to work, the stock will do okay. Its when that cracks or changes is when theres a potential problem. The Revenue Growth story no longer is no longer a story for amazon. I push back on his statement. I think amazon, operating models depressed by a huge factor because theyre invested in aws. You strip out investment to aws, you have a highmargin business comparable to other retailers, even exceeding other retailers. I think operating margins expand in 2014 and 15 so you buy into that operating margin expansion. The knock on the profitability question. I thought jeff bazos could turn a profiting margin if he chose to but he continues to reinvest in the company for growth purposes. Im not here to do your job, victor, but they are kind of a company that are looking to the future and growing rather than trying to turn a profit and please wall street. Lewis . He was rendered mute by your argument. I convinced him. Hes changing his mind. Can you hear us . No, i havent changed my mind. Okay. Whats your go ahead. Tekd turn a profit but since 1997 they have not made that decision. Humphrey neil said it best, when everyone thinks alike, everyone is likely to be wrong. Theres not a single analyst on wall street that has amazon rated a sale. Even if theyre all right, the average price target they have implies 4 or 5 upside to the stock right now. Im sorry. Thats not an attractive risk versus reward when you can play a company like turtle beach which will be traded on the nasdaq in the middle of this video game console where microsoft and sony sold out of their new consoles. Thats a much more compelling growth trend that has way more upside than amazon because of the Holiday Shopping season. Gentlemen, both. Appreciate your thoughts on amazon. Happy thanksgiving. Darn, i thought i had him convinced. You won some people over, thats for sure. That would be something. Hanging onto this gain. The dow is up 30 points. S p also in positive territory. Alltime highs if we close positive today. As we head towards the end of the month, tech toys and devices, hot or not this Holiday Season . Josh lipton has been doing some digging and hell join us next from silicon valley. And then well hear exclusively from the head of specialty cookware retailer to see what he has for black friday deals. The American Dream is of a better future, a confident retirement. Those dreams, theres just no way were going to let them die. Like they helped millions of others. By listening. Planning. Working one on one. Thats what Ameriprise Financial does. Thats what they can do with you. Thats how ameriprise puts more within reach. Thats how ameriprise puts more maestro of project management. Baron of the buildout. You need a permit. To be this awesome. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. You can even take a fullsize or above, and still pay the midsize price. aaron purrrfect. vo meeeow, business pro. Meeeow. Go national. Go like a pro. Xbox one, chrome cast, these are some of the names retailers hope will drive traffic and sales this Holiday Retail season. Josh lipton joins us. It could be a big weekend for tech. About onethird of shoppers surveyed by Consumer Electronics association said she plan to buy electronics this weekend. That is what could happen. The actual number could be even stronger. Last year 44 of those who shopped over the weekend did buy electronics. Economists say this year tech could overtake clothing as the most popular category. Most expected to buy a tablet, followed by laptop consumers, video game consoles and televisions. They chalk up some of that enthusiasm to new announcements. We have new game consoles, new computing prushgts a number of new tablets, smartphones. All of these are growth categories with Large Installed bases. Consumers going out and buying these categories over the weekend. Analysts we spoke to say the hot items could include apples ipad, seveninch android tablets and bigscreen televisions from samsung and vizio. Still some tech gifts on that list, josh. Thanks. Our next guest is hoping shoppers will have money left over afterwards for what he sells, and thats highend kitchen gak gadgets and accessories. Johning us is the ceo of sur la table. Thank you for joining us. Thank you. Do you prefer people call it sur la table or thats better than what i would have said. We say sur la table. What do you see as we head into the peak of the Holiday Shopping . What are people buying . Remember something. Were already in peak. Thanksgiving is a huge cooking holiday. The saturday before thanksgiving and today are huge days for our businesses, in addition to black friday and dwha will happen from friday thereon. America cooks. America celebrates cooking. Thats where we come in. Of our 117 stores, 115 have cooking schools where we teach people. Which will get people through the door, obviously. We had the ceo of Williams Sonoma here the other day who . Yeah, i know, i know. We talked about what a commodityized business youre in right now. Theres so much competition, so many places people can buy gadgets for a much cheaper price. Its all about market share. I cant imagine margins are high in your industry. Its all about having a product for the customer thats interesting. Telling them a story, give them a reason to come into a store or go to the website to find something thats really exclusive or innovative. I think we do a great job of that. Thats really what were here for, is to celebrate cook and find ways for people to have more fun in the kitchen. Whats the mix currently, jashgs between goods and service at your store . By services i mean some of those cooking classes which are going to grow in value for your company over the next couple of years. I think about a petsmart, too, building on that Services Model which is something an amazon, frankly, cant do. Exactly. Its a more compelling reason for people to come to us. Its one thing to watch a tv show about how to make pasta but when you can spend three hours with us and we teach you thousand make pasta from scratch, thats a different experience. You probably realize along the way a couple things in your house you to want change in your house. Take a basic knife skill class and you realize, i need a different how big of that is your refuse new today and where do you expect that going . When i started with the company, we had 18 programs. Now we have more kitchens than stores. Going from 18 to 51 as we more than doubled the store count as well. Why are we cooking more now . Kelly and i were talking about this before the show. We both cook. Bills the chef. I love to cook. I cook virtually every night. What happened . Why are we spending more time at home cooking rather than going out these days . It represents more value than it did a generation ago. We see the value in making a meal and we understand what it means to the people we cook for. Its an expression of love. It clearly is. In our world there are very few things you do that you do from beginning to end. Theres a satisfaction to that and i think cooking is a great Creative Outlet for people as well. All the chefs who become rock stars now, is that a part of the attraction as well . That has been. I think theres a movement beyond that. I think youre seeing the farmer become a rock star as well. The origin of food is more important to people today than ever before. Thats true. Current events somewhat dictates that. Oil in the gulf, radiation in fish in the pacific, these pink slime in our meat. These affect the way people eat and how they do it. I also think today more than ever before we have access to ingredients like weve never had before. I dont know that it was possible ten years ago to find kreme fresh in idaho. Its easy to do now because we have great purr vaifveyors. Produce used to be seasonal. Now you can get it because of i think people worry about, where did this come from . I would rather support the local farmer. Theres a statistic now there are more local farms or more farms are cropping up around america. Theres an increase more than weve seen in the last 50 years, which is exciting. Whats the best selling product for you so far . Theres a lot of great selling products. Were prideful of what we do with cookware, what we do with cutlery and knives and what we do with electrics. We have an amazing pizza oemven you can use at home propane poired that gets up to 600 degrees and its incredible and you can only get it at sur la table. Our producer wants to know which farmer youre referring to that has become a rock star. I get it but he doesnt. You can pick one. You with talk about dartanian in new york, different cheese purveyors in seattle, different bread manufacturers in los angeles. Or wheat manufacturers, i should say. Jack, good to see you. Thank you. You say the name of the Company Better than i do. Sur la table. Hes early. Youll see him tomorrow, the thanksgiving day parade. But st. Nick has come to the floor of the new york Stock Exchange. Hes standing behind us. If you thought if you thought black friday was early, santa is already here . Hes shameless. He goes in there i thought he was santa. I thought hed make a play for one of the elves back there, but i guess not. Going for santa there. Nice to see you, santa. There we go. Bullish or bearish . Im sure hes with the consensus. 20 minutes to go before the closing bell. Keeping an eye on markets. Dow adding 30 points so not much movement. Just how important are social networking sites like twitter and face book when it comes to the success of black friday and the Holiday Shopping season this year . We have more than you might think. Well explain in a moment. After the break, its the rematch weve all been waiting for. Shes a little country. Hes a little rock n roll. Seema mody says small caps will keep driving this market to record highs. Dominic chu says large caps are the place to go. They go toe to toe. [ sniffles, coughs ] shhhh i have a cold with this annoying runny nose. [ sniffles ] i better take something. [ male announcer ] dayquil cold and flu doesnt treat that. It doesnt . [ male announcer ] alkaseltzer plus fights your worst cold symptoms plus has a fastacting antihistamine. Oh what a relief it is plus has a fastacting antihistamine. Stick with innovation. Stick with power. Stick with technology. Get the flexcare platinum. New from philips sonicare. announcer at scottrade, our cexactly how they want. T with scottrades online banking, i get one view of my bank and brokerage accounts with one login. To easily move my money when i need to. Plus, when i call my local scottrade office, i can talk to someone who knows how i trade. Because i dont trade like everybody. I trade like me. Im with scottrade. announcer scottradeproud to be ranked best overall client experience. Welcome back. The s p 500 is up 27 this year. In fact, thats been bested by the russell 2000 which year to date is up 34 for the small caps, bill. But still, marvelous seema mody says theres evidence to support the small cap rally is just Getting Started while dynamite dominic chu says its time for the large caps to take charge. They step into the ring to settle their differences nicely. Nothing below the belt there. Lets start off with large cap. If youre a large cap, they were at record highs but you buy them for safety reasons. If youre looking for appreciation, large caps are at record highs right now. We took a look at uber large caps and the ones that pay you to wait. They give you a dividend yield. Big names, stable names, the ones who have been around for decades. At t with a 5 yield. Then ive got intel with 4 yield and mcdonalds with 3 yield. If youre looking for income, dividend income, large caps are the place to be. One other thing about that, because large caps have a longer history, theyve been around, a track record of dividends and stock buybacks. Heres something interesting, seema, 4 out of the 30 dow stocks have boosted dividend this is year. There you go. I hear your dividend argument, dom, but several small cap names that yield a dividend. I have a couple of examples. First, quest core pharmaceuticals, western refining, targa, they all yield a dividend. You want more. Bam. Take a look at these yields. All have a dividend yield higher than the ones you just pointed out. We have seen outperformance in large cap stocks. Thats yesterdays story. With a strong recovery in the u. S. Economy, investors are more willing to take on risk. Thats why traders have their eyes on the small caps. I would say theres a reason why those dividend yields are big. Sometimes prices have fallen. Or they might not be as stable adds large caps. Lets talk about the performance. The russell 2000 i will admit is a juggernaut. Its up huge this year. Up 34 so far in 2013. The s p 500 up a respectable but underperforming 27 . What does that mean . If they track with each other, can you see that. That means the s p can catch up, have outperformance to get to where the russell 2000 is. If youre looking for relative valuations, thats why large caps because they have room to grow. I did speak to market technicians who said that russell 2000 index has more room to run. It broke the 1123 resistance level. That means this chart can continue to move to the upside. I spoke to market technicians who said, yes, this index has more room to run. December on average is time for small cap index. You cut its a Winning Strategy no matter how you slice it. Thank you both. So far, so good. We see that continuing. Up 28 points on the dow. The s p up about five points. Both in record territory here. Thats right. Across the country, countless retail workers will be breaking holiday tradition and working. Its causing a huge backlash. Should it . Movie stores, restaurants, other establishments are open for thanksgiving and has been for years. Why is retail that different . Well debate. Shes always been able to brighten your day. Its just her way. But your erectile dysfunction that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. And the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. 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Tdd 18003452550 we have intuitive platforms tdd 18003452550 to help you discover whats trending. Tdd 18003452550 and seasoned market experts to help sharpen your instincts. Tdd 18003452550 so you can take charge tdd 18003452550 of your trading. Welcome back. Sorry. Im late getting here. I was taking a selfie with santa. Hes getting ready to ring the closing bell. If we hang onto these gains, it will be record highs again for the dow and s p 500. Joining us to talk about this is david nelson from bellpoint Asset Management and greg zioli from empire Asset Management. Youre very skeptical about this market, arent you . Not at all. You think too many people are bullish. I dont think that. Frankly, everybody is focused on the bubble. Theyre looking for their lane nazarelli moment. Thats a name from the past. She called the crash. Everyone wants to predict the crash. Youre made for life if you get it right. If you dont get it right, nobody remembers two months from now. I like it for that reason and im invested. What do you think . I agree. Were certainly on the bubble. Reasonable prices. S p was 13 times earnings. Now 15 times 2014 earnings. 30year average, less than 15year average. I think we have room here. But the laws of physics last time i checked have not been repealed. This is a game of supply and demand. Buy and sell. Agree. We have not seen a pullback bigger than 5 nor longer than maybe a week when people buy these dips. If you get a 5 correction, a lot of people will come back and say that the overbought continue is gone. Have you to get back in the market. Thats keeping a lot of investors out of the market. Frankly, they missed the rush. Thats for hur. This has been the most unloved rally weve seen in a long time. But overvalue is relative. Certainly sectors in the market that are of value. Utilities, probably substitutes that are high yield, i would avoid them. I agree with them, if youre a shortterm investor, were overdue for a pull back. Up 6 since november. People will be looking for that pullback to go back in the market to invest. Theres a lot of money there is. What should you buy . Whats happening in energy is probably the most exciting thing in the last several decades. Thats got to be good for names like the Airlines Airlines are up 60 this year. And theyre going to go higher. The numbers for next year are way too low. Numbers for delta will go up. Trading although under ten times earnings. Thats a name i like. I agree. I think you have to buy sectors that move with the economy, health care, manufacturing, technology, all those that lead with technology. Youre saying this is an early stage economy right now, growth . In certain sectors, yes. Really . I thought weve been in a recovery since 2009. Arent we in four, five year recovery right now . Stocks bottom in 2009. If you look at underpinnings of those stocks they didnt bottom until 2011. Price earnings and book to value. Were only in a twoyear recovery. Prices versus fundamentals. Weve been mediocre on the way up right now. You can see some modest more you know, i think more multiple expansion. You could envision getting to 18 times earnings. That would put a 2100 target on the s p by next year. There you have it, another target we can go for for next year. See you both. Happy thanksgiving. Appreciate that very much. Well come back with the closing countdown on this wednesday before thanksgiving. Whats on the cnbc hot list right now, you ask . Thats coming after the bell. Stay with us. vo our new planes dont fly any faster. But it sure feels that way. Because with power ports. And wifi. And inseat entertainment, for everyone on board, now when you fly, time flies too. Flight Attendant sir, were about to land. vo were adding a brand new plane, with all this, every week. 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Were finishing the highs of the session with 38 points on the s p. Lets not forget, the nasdaq continues to power higher. Were at 4,045, thereabouts, with a gain of 27 points. Thats a 13year high. Ben willis, i think were becoming too bullish. I think there are too many people convinced theres only one direction for this market to go. I agree but the problem is thats where money flows continue to come in from. You had guys on before i came on suggesting that everybody wants to call the market crash. Im still looking for a correction. I think it is way overbought at this point. Im not im not bearish at all. Just for the health of the market, we need that to happen. But the flow of funds is unstoppable. I will say, its not the kind of market yet where were seeing 100point gains. We just keep hitting singles every day. Yesterday we were up a like amount here. We keep doing that to set new record highs here. Its not its not an explosive rally to the upside. This is a bull we call tina. There is no alternative. But it just continues to move, temporary to what anybody else would like to see, the technical analysis, whoever is looking at it, professionals say we have to have one. It hasnt happened. If you try to step in front of this bull, youve been hurt. Seasonally this is strong part of the year but tendencies are out the window because of the fed policy. That has changed the game, dont you think . Absolutely. Its manipulated the market. Not necessarily for a negative. Its manipulated the market, done what its supposed to do. My position is they should have tapered when they told the market they were going to taper. They lost credibility. The market continues to move higher. We go higher on bad news because that means tapering is going to stay. Absolutely. Happy thanksgiving to the willis family. Same to you. Heading to the close here. 30point gain. Thats enough for a record for the dow. Fivepoint gain on the s p, record there. Santa ringing the bell getting ready for the thanks giving holiday. Stick around. The second hour of closing bell now with kelly evans and company. Ill see you friday. Wow. Deja vu for markets today. Dow closing at another record high for the fifth straight time in a row. Welcome to the closing bell. Im kelly evans. Heres how were finishing up the day ahead of the holiday tomorrow on a shortened trading day on friday due to the thanksgiving holiday. Looks like the dow is adding 25 points. The nasdaq adding 27. Its up twothirds of 1 , the s p 500 adding five points. 1807 is threshold there. 13year highs at 1444 for the nasdaq. Lets bring in the panel. Joining me for the entire