Brothers najarian. Investors are bracing for a week of uncertainty. Both the dow and the s p just posting declines for the Third Straight months. You have session lows. The vix is hitting its highest level. What do you do here . Whether or not it contributes to a done side move in the market, we will see, but we have seven days now at least until the voting is completed and then well see whether or not the process is completed. Thats one of the wroerz, judge. Thats why theyre buying up side calls in the vix is because theyre worried that maybe the process doesnt end on november 8th. Are you starting to see that the market is looking at numbers and saying, hey, were getting more nervous about exactly where this market is going based upon where he stands in the polls. Weave talked about it time and time again. How much would donald trump mean in terms of the uncertainty of the market . Far more than hillary. I think were seeing that priced in right now. Dollar index has been on the rise. What do you do . Youre running a big portfolio. What are you doing . I do think there are certain sectors and certain styles that will work. You mentioned telecoms not working. On the flip side, you have the cyclicals working. You have financials. You have technology working. You have energy to some extent. Its lagged in the last month, but its had a nice run off the lows. Industrials having a tough time of it this week. Again, off the lows in a substantial way. I have to step back. None of us know what is going to happen with the elections. What if trump wins . You have to come look at the macroand the global pmis that are doing much better than expected. Our ism number doing okay. Earnings 70 better than expected. Fundamentals arent so bad. I think you want to make a shopping list. Youre asking me what im doing. Im making a shopping list. All of the companies that reported good earnings, i would be buying if we get a pullback gauze of the election uncertainty. Air products. Mattel, bank of america, jp morgan. Anadarko. Those are names that i this i the fundamentals are sound. What does the market do . Look, i think trump i think trump has a very good chance of winning. I just dont think that you laughed at me the other day when i suggested the market wasnt prepared for that. The market is not prepared for anything. We can have unbridled chaos. Anything can happen. The idea that somebody has a very, very heavy bet in one direction to me is laughable. Its not my style of investing. I think the Bigger Picture thats going on here, scott, is th that. I want to give you that when they added 87 billion. The swing that were talking about is enormous. Then you have the s p 500 down six days in a row. Not a big drawdown only 1. 4 . Make no mistake, youre talking about people taking risk off ahead of the election. I think theyre more worried did zploosh. What about the december rate increase. Universally on the desk are we all saying its going to be that you would give it a 9010 or 9055. Do you just take profits in financials. Things that have worked . Why would you if numbers are going higher for the first time in a couple of years . For the first time in a couple of years the numbers are actually going higher . Thats fine and good until the markets come down. I would say in a stocks where earnings are going higher tend to outperform those than the stocks where numbers are going lower, and earnings the reason why the stocks have done so well is because every one of them reported better than expected numbers with a yield curve where it was. Right . Now you have the tenyear up substantially. 40 basis points in october alone. Thats like the best number since june of 2015. We were talking about the fixed income trading, and its going to be tremendous for these banks. Now, there are banks that it wont be tremendous for. Wells fargo and probably u. S. Bank corp are much lower on the scale, the ones Immediate Impact jp morningan. Going to have an Immediate Impact from that. Suppose he does with global trade as he throws away currency and remember, it took until 2010 to get that done. Doesnt take time to scare the heck out of the stock market, though. What do the Insurance Companies and Health Care Companies do in two years . They were one of the great they were the bet into it actually happening. The most important thing at the top is you put out a list, scott. Look at the earnings. I mean, the focus we talked about right as this started off, look at the earnings. Jp morgan kicked it off people have their pads and pens ready. Ill put the list out there right now. Jm pouringan, says city, bank of america. They get hit. Thats where you buy. I think the other area you look at is lakeeffect at these tech names. They absolutely crushed it, right . Too many other things going in the market. You look at some of the names in the tech space where you have a dividend yield, you have a reasonable level of a p. E. , and you have growth. Those are the names you want to own. You kr a Union Pacific thats down 10 . They are okay earnings, but just higher expectations. Our chief washington correspondent is in north jersey today. John harwood at the wall. Want to find out where we stand one week before election day. John. Scott, ticktock on the clock. Less than six and a half days until election day. Lets take a look at where things stand. First of all, from the standpoint of the big picture, weve got the National Polling averages. Those are tightening. Real clear politics had been over six. Now down to 2. 5 spread for Hillary Clinton over donald trump. The Electoral College is where it gets decided. We have a whole bunch of Battle Ground states looking across the country. Challenge for donald trump is he has to go from 206 which was mitt romneys total up to 270. How does he add some . He has some strong prospects here. Florida, ohio, iowa, nevada. All of those are states where he is very competitive with Hillary Clinton. He could win all of them. However, if he does win all of them, he still is only at 265 electoral votes. He needs to win some other states. What are those other prospects . Well, Hillary Clinton is leading in all of them. Colorado, virginia, pennsylvania, new hampshire, michigan, and wisconsin. Tough road for donald trump, and we have one or category, which is two states that Hillary Clinton could take out of the republican column. North carolina where shes had a consistent lead,ing and arizona where shes been running neck and neck with donald trump. She wins one or both of those states. His path gets steeper. Now, of course, we also have the battle in the senate going on. Lets take a look at that. Democrats need to pick up four if Hillary Clinton wins the presidency, and they have a couple of strong prospects. Do you start out in the midwest with illinois and wisconsin. Those are two states, mark kirk of illinois and ron johnson are both vulnerable incumbents. Democrats win those. Just like donald trump on the electoral map, they have a tougher road to hoe in the other races. Florida, missouri, indiana, pennsylvania. All of those are competitive. No guarantee that democrats win any of those states, and theres one more. If he wins that race, harder for democrats to take control. And really hard for democrats to take control in the house of representatives. Democrats 188 where, that means they have a net gain of 30 to get to a majority, which is 218. As donald trump gets closer in the polls, thats harder to do. This underscores what john just did, the kind of uncertainty thats still out there. He will likely be there until the morning of november 9th if not beyond. Top of the show i was talking about that unusual activity in call buying. That is extreme. Its all the way up to the 40 strike, judge. If there isnt an outcome next tuesday and it takes until wednesday, thursday, friday, maybe even much longer, that is why theyre buying strikes all the way up to there because im with you. There are people with big portfolios buying insurance right now in case that happens. You look at whats not worked over the past month. Telecoms down 8 . Utilities are flat over the last month. Its the financials and the earls that have been the winners. I dont get the whole allegedly thing. Look at what the stocks are done. As trump gains ground in the wake of the comey letter friday, you think you would see a bounce. Youre seeing the opposite, in fact. This is a seconder now closed. You have g to back to 2004. A lot of that is e. T. F. When its that widespread and indiscriminate. That creates opportunities. Absolutely. The opportunities are created, and i think youre right. Two weeks for the last two weeks as we are in the fifth anniversary, how many times do we have people sitting on this desk talking about passive versus aggressive. Its the etf, world. The piling on and the piling off and how that thing holds slosh and all that moves. I think the reality is youre seeing some of that volatility. The fact john and i both just we see volatility to the vix getting over 19. Its interesting to watch this. If they continue, you have to be careful. If you are a longTerm Investor, heres an opportunity, and thats why i listed a whole bunch of names at the beginning of the show. I think you asked which sectors do well between now and the he wanted of the year, there will be massive chase. There are so many people behind their benchmarks. I would say if the Economic Data gets better, which weve been seeing globally, those you have to look at those pmi numbers and the underlying details from those reports. We all know its not a brexit vote. There are individual states that have electoral votes. Again, you could have a popular winner and not have a winner of the election based on how we calculate these things. The issue could still be brexitlike if you a sweep of trump and a bunch of folks next week, you could have a brexitlike reaction in the market, says and it would be the exact buying opportunity that stephanie and josh and pete are talking about. Lets take a quick break. Heres what else is coming up on the halftime report. Health care, dropping hard in the last three months. Thats how markets work. With a week to go before the election, how much lower can it go . And what happens after november 8th . Plus, another big drop for valeant. Whats bill akmans strategy . Were back in twoments e minutes. Ive never liked marijuana. But im voting yes on prop 64 to legalize marijuana for adults 21 and over. It has important safeguards for families, like strict product labeling and childproof packaging of all marijuana products. And banning edibles that would appeal to a child. Raising a teenager, that regulated system makes a lot more sense than what we have now. Plus, 64 taxes marijuana to Fund Priorities like afterschool programs. Personally, marijuanas not for me. But my minds made up. Im voting yes on 64. Were back on the halftime report. Shares of valeant hitting another rough patch after a criminal probe about the ceo and wcfo were reported. Heres more on mr. Akmans tough career. Hey, kate. Hey, scott. A few early performance numbers suggesting that the predicted hedge fund wash out may be on hold temporarily. Bill ackman continues to suffer. The fund was down 3 for the month and 21 for the yeartodate, which was october 25th. Yesterday another large head wind in the form of reporting to suggest that this accounting Fraud Investigation into the Pharmaceutical Company, valeant could lead to federal criminal charges against two former company executives. Possibly even in the coming weeks. Valeant shares down 80 for the year and fell hard on that news. Ackmans fund, which has a publicly traded vehicle and will discuss its quarterly Performance Vehicles on a call, hasnt commented on the bad news for valeant. As the number one shareholder for the company in stocks and economic exposure by the Options Market of 30 million, its clearly an issue. One Silver Lining to the stocks protracked drop. The overall value of the position shrinks to less than 500 million in stock. Making it less important perhaps to ackmans overall portfolio. Interesting story. Kate, thanks so much. Lets stick with valeant. David marris is the senior analyst. Welcome back. These reports of a criminal probe into mike pearson and the former cfo, chiller. Are we talking about more risk or just the who elthing in total . I would be really careful on how its portrayed. We dont know if charges will be limited to the two individuals or to the company. Some people have characterized it as its not the company, its just the individuals. I wouldnt be to sure about that. Lets just take the prospects from either side. If it is just mr. Pearson and shillor, then how do you view the stock Going Forward . I still think that the best case of whats going on with the business is the single most important thing. When you look at the debt, 30 billion, how about the refinancing aspect of this . How does this company with stand what theyve got to put up with right now in terms of that debt considering where this thing has actually shrunk down to in terms of its market cap . Yeah. There are two aspects to that. First is if you were going to loan some money to a trend, if they just if theyre a newspaper article came out and said, well, they were under investigation, you would be a lot less likely to give them money. Refinancing debt becomes more expensive when you kr an investigation like this. Secondly, remember, its not positive billion. Its 32 billion of longterm debt, but their overall obligations are Something Like 40 billion. If you include things like rent or leases where. Its interesting. Bill miller was on our show and he thinks that valeant could double over the next three years. Is it nearly as dire as many of the worst predictions are . Well, i dont like to comment on individuals who have appeared before. Lets be straight. Someone that says i think its going to double, and the stock drops, in order to double, it would now have to triple. He didnt say that. Are things dire . I think theyre very serious. The stock has been beaten down so much theyll deal with the debt overhang. If youre a longer Term Investor in the name, you can make money here. Its possible. We think that the risk to the down side is still there. The company is reporting next week. Theres a large group that believes theyre going to reset guidance lower. Some of the prescription trends look so bad that probably will happen. Lets see what happens next week. Theres no rush, no reason to rush into a burning building. They have the detd overhang, and then whatever remedy is there, or the simple fujss of the company that you cite in your note of the inability to put through price increases which have really driven the train over the last many years. The two biggest and most important things are that the business is not going very well. The prescription trends look weak. They have a large amount of debt that comes due over the next few years. Now, accounting fraud, if it is against the company, could be a large, large potential liability. On top of that, you have these class action suits where remember here what were talking about. This is one of the largest declines in market value of any company in Public Company history. The company has lost Something Like 70 billion plus of market value. The fact that some mutual funds have decided to sue the company, i wouldnt dismiss that as, oh, theyll settle and walk away for 100 million. These could be very large liabilities. Ho do they get paid, though . What do you think is more likely at this stage in the game . A giant dilute of equity secondary of some sort, or an asset sale . Whats the next thing that they do to save the company . Its funny you brought that up because you are one of the only people thats ever brought that up, and i think thats the easiest im very clever. Its one of the easiest ways to solve things, right . A giant equity offering. The company views that as off the table because of where the stock has come. That is one way to solve things. I dont know if there would be an appetite for that. When you have 40 billion of obligation, you have to do much bigger things than selling off bits and pieces i think theyll have to sell core assets. Theyll call them noncore, but then theyll get down to selling the important things. Bausch and lamb. I dont know if thats the koor asset. There may be big tax liabilities with that. There are things like xiphaxon. Maybe they sell that. Thats one of their crown jewels. David, thanks for going to a camera for us. David marris, wells fargo. Judge, whatever happens here with valeant, its going to happen relatively soon based on the shake that you see going on in the Options Markets because the normal volatility for this, which is very high volatility because of the selloff that weve seen is normally about 90 . Right now its 160. Theyre telling you through the future of calls and puts, trading thats going on, something is going to happen in the next two or three weeks. It could be pretty scary. More broadly health care has been hammered of late. 7 over a month. 11 over three months. The arrows are red across the board. Its gotten worse just when you thought it couldnt get worse. From a political standpoint, you have certainly suggested this is not but this is not a typical situation. Lets keep in mind, there are other things happening besides election risk that are driving these stocks. Bristolmyers just had a major setback with the drug. Pfizer this morning after telling the street theyre not going to do this split, which everyone wanted to see. More bad news. Theyre all paying above market yields, and many are below market multiples both on trailing 12 month and forward. I dont know what happens next week. What im saying is i think a lot of these names are the fat pitch one, three, says fiveyear time periods. The world is aging. These are the companies that have solutions that will help them live longer, better lives. I think theyre going to work as investments. Coming up, a tale of two retailers. L brands sinking on weak sales. Coach moving higher on its earnings. See how the desk is playing those movers next. The two upgrades in two days. Chevron. Should you jump in . Call of the day coming up. The pursuit of healthier. It begins from the second were born. Because, healthier doesnt happen all by itself. It needs to be earned every day. Using wellness to keep away illness. And believing a single life can be made better by millions of others. As a Health Services and Innovation Company optum powers modern healthcare by connecting every part of it. So while the world keeps searching for healthier were here to make healthier happen. Wrk back to the halftime report. Im reporting from the nymex. As you can see, our gasoline futures are pairing their gains as Colonial Pipeline has said that the restart of line one is expected by saturday afternoon. Gasoline futures spiking as much as 8 on this news, but now coming off of those highs traders concerned that not only could we see gasoline shortages and Retail Prices spike in the southeast as we did when there was an incident back in september, but that this could trickle its way up to the east coast as well. Seema, over to you with the european close. Europe closing, and theyre starting a new month on a down note. Major indexes off by around less than 1 . Once again, its a selloff in global bonds that is captivating investor attention. Theyre attributing todays move to the manufacturing data. Its an encouraging sign for global growth, and thats why we look at yields rising. If you look at the tenyear bund yielding 0. 715 . Its the pronounced move in spain that is really interesting here as ten months of political gridlock has come to an end. Were looking at bonds outperforming in spain. Youre seeing this spread widening between the spanish tenyear and some of the peers including its. Speaking of the b. O. E. , the bank of england, one of the three major things we havent heard from the bank of japan. No policy action there. Royal dutch shell was the biggest riser. Earnings beat expectations as its seeing increased production after bg group acquisition, but British Petroleum moving forward by 4. 7 . Overall stocks in the u. K. , though, are the big outperformer this year. You can see the ftse 100 up nearly 11 yeartodate, where the european stocks as a whole still down about 8 in 2016. Scott. The Baltimore School bus hit the entrance to a cemetery and veered into an oncoming commuter bus. Killing six people and injuring ten more. No children were aboard the school bus, whose driver was among those killed. The search for 20 miners still unaccounted for after an explosion ripped through today. 35 miners were working underground when the explosion occurred on monday. 13 were killed while two survived. Pope francis departing sweden with his visit to the country. He pressed his call for christians to forge Greater Unity as he commemorated the 500th anniversary of the protestant reformation. Starbucks holiday beverages return, but not in those controversial red cups. Instead the cups are green, which the company says symbolizes unity among people. For now, back over to you, scott. Courtney, thanks. One story courtney missed, johns bears beating petes vikings. 2010. 5it. The bears are 26. Chicago sacked sam bradford five times. Shocker. Look at that running back. Rookie, right . Yes. You had a huge night. He was on fire. Jordan howard. Did you make that call . I think you might have. I think there was more anger coming from scott. His Washington Team went into overtime, and they had a loss. Jimmy, his eagles went in overtime. They had thats a loss. A tie. You hate ties. My guys, the quarterback coach for the chicago bears. He did a nice job. I had to look out for my friends over my colleagues. Oh, okay. So im not in the friend category at all . Im in the friend category. Youre an employee of scott. I think you forget. Bradford has to be able to they have to give him a little bit of time maybe in the pocket once in a while. This poosh guy he was doing well throughout the season, but now you get deeper in the season, he gets hit every single week. Sacked every week. I have to give dave a shoutout there. He is good. Yum versus yum china as the fast foods giants spin off against trading today. Which stock has a better bet. Alibaba on deck tomorrow. What shareholder pete is watching. Is it because so many go after it the same way . Chasing after short term returns. Instead if getting caught up with the crowd, the Investment Managers at pgim take a long term view, teaming specialized active investing with riskmanagement rigor, to seek out global opportunities. We manage over a trillion dollars this way, attracting many of the worlds leading investors. Partner with pgim. The Global Investment management businesses of prudential coming up power lunch just one week to go. Exclusive results on who wall street is betting on. Steve liesman will report. A deadly peopleline explosion in alabama fueling gas prices higher. The states that will be impacted the most. Well tell you. It pays to have friends. Why facebook may actually help you live longer. Not kidding. Scott, back to you. All right. Thanks so much. See you in just a bit. We have a news alert right now on a stock thats moving eli lily. Meg terrell has it from the news desk. What do you have . Bernie sanders strikes again. He is tweeting about the price of lilys insulin drug. Ewe seeing lilly down 2 on this news. His quote says why has the price of insulin gone up 700 in 20 years . Its simple. The drug industrys greed. Remember, of course, he has been tweeting about another company sending that stock down talking about the price of its insulin drug quite a bit. This is an interesting shift to Companies People consider more innovative Drug Companies from the others like valeant or. Steph, you own this. I do own it. Im underweight health care in general because i think not only is pricing goodbying to front and center before the election, after the election for a long time to come. You have to be very specific on what you own in health care. I am am very tempted because theyre very cheap, but this headline risk i own this as a great company. Its got a great pipeline. Its not a big percentage of the total revenues. Has an Outstanding Management Team and a great balance sheet. Its one of the blue chips in this sector. Yet, its down. Its down so straight from their quarter. This comes go down the lits of every Major Health Care company and decide what drugs they and whether the price theyve charged for them is okay or not. Thats the environment that we are in. You have discovered how about the idea that this is a theyre looking at a 20year thing in terms of the drug itself, scott. Its really interesting. I dont know when it is either. Maybe its something technical, josh. I mean, i really dont know in terms of lily. When you look at the pipeline, scott, there is a great pipeline. These tweets, this world that were in right now, what they can do, the political environment can do towards some of these companies, particularly in the drug industry, is absolutely incredible how fast it can work. You can look at maybe when it yields 3. 5 , 4 . Im totally on the other side. I will tell you, this is like a jim cramer rule 101. When a big Quality Company is yielding at 4 or more, you got to take a look. I dont know where lilly is going to bottom, but i would start to pick at 3. 5, and i own it. Im with you on that. This has been going on for a year. Were pointing out something thats gone in effect for a long time. It doesnt go away. I think it does. The election, regardless of what happens, theres a lot more talk than there ends up being action. We see that with every sector. The last time you said that, the stocks are down 10 since then. Okay. So. I think you have to get through the state of the union. Is it the proof in the pudding of what is actually happening to the stock in the space . No. They continue to go lower. Okay. Were talking about whether or not these are good investments. My argument is someones tweet probably doesnt change whether or not something is a good investment. I dont think thats controversial. I just dont think the headlines are going to go away on pricing, and i think the state of the union could be a huge negative catalyst. Are banks a good investment . I think some of them are, yeah. I like jp morgan. What about the Regulatory Environment around the banks . Every sector. Energy, are they a good investment . What about the risk . Theres no seconder with no richks. Do they have an overhang as health care and financials seem to do in the political arena . I dont know how to quantify that. Why are you being a pain . I dont know how to answer that question. Do they have as much of an overhang . I dont know. I think its someone with a bigger mouth. Elizabeth warren, we know shes going to be going after the banks no matter who is in congress, who is leading the senate next year. Elizabeth warren is going to be pounding the table for more regulation and all that kind of stuff. Shes got the biggest mouth in congress. Once again, though, this is something thats been in effect for eight years. They passed dodd franc. They instituted the Consumer Financial protection bureau. These are own russ regulations that have been hammering these companies. Theyve been forced to remake entire sections of their businesses. Firing people, getting out of some markets. This is not new stuff. The fact that maybe its it hasnt stopped. We agree, though. After every Pharmaceutical Company reported so far. The earnings are going lower. Agreed. Thats from a fweet . No, absolutely not. You and i have the same point. These companies are talking about price for the first time so aggressively. Its not negsly because of a tweet, but if the its the environment. Business models are prohibitive or prohibited by either tweets, rhetoric, regulation, on drug pricing, that changes the fundamental pace. Fair. For several companies. Weve seen, like, hundreds of billions of dollars in market cap already with that of the sector. Are we saying that none of that is priced in . Are we saying not enough . I dont know. My argument is weve seen probably a lot of it. It doesnt seem to want to stop. Stocks have gone down. Ill be on thursday and friday. Well see what the stocks do that day. Were talking day to day. Z were talking day to day . I dont know what the stocks will do a week from now. If you have a good sense to stephanies earlier point the stocks have been down since hillary tweeted the first time. That was a year ago. So. On the other side, these stocks have been outperformers for the last five years being. There was a lot of ownership for this group in general. You may end up with a situation. It takes a while to unwind it. Eventual eventually, josh, youll want to buy. As a longTerm Investor, which i am, youll want to buy. I dont want to catch a falling knife, though. I bought the banks into that messiness, and that was painful. Eventually it worked out, but that was painful. You got to learn your lessons over time, and you probably eventually youll bottom. You probably waited because i think you did, you waited for the opportunity where you started to see a turn in terms of what the banks were doing and how they were shifting within the world that they had been pushed into. We havent had a chance to see that turn yet. It hasnt come yet in health care. Thats why you stay away for the most part. Let me wrap up by saying the bear case on these stocks i think is very well known. Its the pricing issue. The bull case, though, is rising volumes, ridesing demand for drugs. At a certain point i think that argument carries the day, but not tomorrow. Right . Not next week. I dont know of a lot of investors who are committing capital thinking or knowing theyre going to get the slooults absolute lowest price for the stock. Very hard to do that. Were going to take a quick break. Cool off around here. When we come back, Morgan Stanley is bullish on chevron. They upgraded the stock today to overweight. It is our call of the day. It is next. Month here. You should have quit while you were ahead. 32 years at this place and ive got 9 days left before retirement. Look jim, weve been planning for this for a long time. And well keep evolving things. So dont worry. Knowing whats on your mind and acting accordingly. Multiplied by 13,000 financial advisors. Its a big deal. And its how edward jones makes sense of investing. Man, im glaaflac c pays cash. Isnt Major Medical enough . No whos gonna help cover the holes in their plans . Aflac like rising copays and deductibles. Aflac or help pay the mortgage . Or child care . Aflaaac and everyday expenses . Aflac learn about one day pay at aflac. Com boat blurlbrlblrlbr were drowning in information. Where, in all of this, is the stuff that matters . The stakes are so high, your finances, your future. How do you solve this . You dont. You partner with a firm that advises governments and the fortune 500, and, can deliver insight person to person, on what matters to you. Morgan stanley. Welcome back to the halftime report. Im jackie deangeles with the futures now traders. We are watching gasoline futures spiking 8 today. The highest level that weve seen since june because of that. Colonial pipeline explosion yesterday and the outages following. Scott nations, the company, has said line two was prasal as of midnight. Line one may be operational saturday afternoon. Were seeing the gains in futures come down a little bit. How worried are you at this point . Well, based on what the company has said, much less than we were this morning when we saw the wholesale price of gasoline get above 1. 68 a gallon. This would be less impactful than the leakage, the leaks that we saw in september when the pipeline was down nearly two weeks and we saw gasoline prices spike nearly ten cent cents. This is good news apart from the human tragedy. How do you want to trade it now. The saturday reopen is just an estimate. Yeah, well, so i think when youre looking at this, you look at gasoline and going back to july, it started to break down to the downside here. It never really picked up when the oil markets started picking up around the opec talks. So what i think you saw today was shorts get shooken out, stops hit and now were getting news that gasoline may be coming back online faster than we expect, youre seeing sellers get back in the market. The 155 is a rejection level. I see it staying below 150, trending to 145 eventually here in the next couple of weeks. More gasoline on the online show at 1 00 p. M. , were also joined by Dennis Gartman of the gartman letter, talking crude oil and Steen Jakobsen with his election preview. Jackie, thanks so much. Amazon shares falling more than 5 over the past week. That after the company missed on earnings. Stephanie link, though, is still a believer. He bought more on the dip. I did. I was wondering what you were going to do. I will continue to buy. Look, i know the quarter was not perfect. I think it was priced to perfection pretty much. We didnt get the operating leverage, the margins were disappointing. But it got the growth, got the revenue growth. North America Revenue growth of 28. 8 . You had aws up 55 with margin upside. I understand why the stock sold off initially. I think it will rebound. I like the story a lot. The secular story hasnt changed. Wait until we get some traditional retailers when they report earnings, in a couple of weeks. These guys are going to shine. These are going to shine. This one is going to shine, absolutely. I think the key to the whole story, youve been on it, steph, congratulations on this amazon thing, a lot of us couldnt get our arms around it, we look at the pe and you cant do it. Even the price level. Ecosystem stocks, though, scott, im a big believer in those with the ecosystem. I think apple is in that category. There is all kinds of them out there now. Ecosystem stocks, those with perform. I think the important level for traders, maybe not so much for investors like stephanie, but people trying to get an edge on where they think the next stop is, much higher, much lower, is 800 bucks. Thats the 50 day. This was a reliable 50 Day Moving Average on the way up, very reliable area for support. Thats where the buyers came in on every hiccup. Now it is under and thats acting as resistance. We saw the stock bounce back after the earnings slide, got right up to the level and was turned away. I think thats where the sellers may be taking control. You can get a close above 800 on good volume. Even on a weekly basis. Maybe thats where you see the buyers becoming emboldened. It is a tough stock to be long. Quick break, come back, talk about why l brands is falling today. Well be right back. Hey gary, what are you doing . Oh hey john, im connecting our brains so we can share our amazing trading knowledge. Thats a great idea, but why dont you just go to thinkorswims chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders . I know. Your brain told my brain before you told my face. Mmm, blueberry . Tap into the knowledge of other traders on thinkorswim. Only at td ameritrade. This man creates software, to protect this customer, who lives here and flies to hong kong, to visit this company that makes smart phones, used by this Vice President , this little kid, oops, and this obstetrician, who works across the street from this man, who creates software. They all have insurance crafted personally for them. Not just coverage, craftsmanship. Not just insured. Chubb insured. Want to get a bunch of stocks. H brands is falling. We have that one. We have yum c trading on the new york stock exchange. Steph, you like it . I own yum. I own yum c. Ill hold on to both of them. I bought a little yum this morning. I think there is a restructuring story there. I dont think that changes. Yum c has a restructuring story. But it is china, you got to be careful on that. I like both pieces. Separation spins usually work. I still like them. Im in the same trade as stephanie, keeping both pieces. Yum c is the largest publicly traded franchiser in the world now as a stand alone company. I think it has legs. We had Keith Meister talking about you want to own both. He said own both and you can understand why. Talked about franchising, i think the pizza hut component is something people are not understanding. Thats the growth area for the rest of yum. I dont have anybody in shares of l brands . Like retail. You follow a bunch of retail stocks. Execution is missed. 10 off 52week lows. Youre getting really close to that going into holiday shopping. Let me quickly hit ten seconds left, chevron, upgrade. Call of the day to overweight. You just got yesterday Goldman Sachs moving that over to the conviction buy. A lot of people jumping on this. Shortterm is the place to be. See you tomorrow. All of you as well. Power starts now. Welcome to power lunch, everybody. We are, america, in the homestretch. Finally just one week until the election. Were going to go inside all the latest numbers and why the market might be in for a shock. New developments on the deadly pipeline explosion in alabama that is fueling a big spike in gasoline. Were on the scene. Apparently it does pay to have friends. A new study says facebook could be a life saver, literally. Power lunch starts right now. And welcome to power lunch. Im melissa lee. Three hours left