Volume is a little bit light down there. You think people are sitting on their hands waiting for next weeks jobs number or what is going on . There is excuse to wait. Trend is very much intact. My focus is going on how the trend extending itself and indicators to gauge it. Im looking at vix. I dont trade based on what the vix does but i was concerned with the fact that the vix is holding stubbornly high, not correcting it all even with the stock making new alltime highs. We have the vix explosion in january. Were coming down. Today were down below 14. I look at a positive side. There is downside in the vix, left, meaning more upside in the stock market because were not very complacent yet. Jenna were losing more steam. Do you think acceleration continues and we give away gains . We were up 120, 130 points. Were dipping down. What do you think . Im still very, very positive. You have to understand we made new alltime highs. We continue to make new alltime highs. There might be profittak
Number for september came out yesteday and the labor market showed signs of slowing. 148 thousand jobs were added to payrolls, the Unemployment Rate dipped to 7. 2 . The october jobs report will be out november 8th. Mark your calendars. The tax Filing Season is delayed by two weeks next year because of the Government Shutdown. And, amazon is raising its Free Shipping order fee to 35. Lincoln ellis of Green Square Capital joins us on this wednesday morning. Good morning to you my friend. And to you angie. Lets talk about the reaction to the jobs number. We had a record rally yesterday. What is that saying . Well, not too hot. Not too cold. Another goldilocks report in a series of goldilocks reports that weve received all summer long. Earlier we thought that it was going to lead to a fed taper but given the shenanigans in washington that taper talk now off the table until march so blue skies ahead for equities. That was my next question. With that taper talk looking like the timeline is
Points, while the s p gained 1. Facebook joins the big leagues of the s p after the close today. Shares trade at 55 dollars that up 100 for the past year. The fiscal crisis threat is not over. Secretary jack lew is Warning Congress not to dillydally. He says the debt ceiling needs to be raised by early march. And, a wing and a prayer. The wall street journal reports mcdonalds is hoping for a mighty miracle after getting stuck with 10 Million Pounds of wings frozen in storage. The chain overestimated demand. Scott bauer of trading advantage joins us on this friday morning. Good to have you as always on our show. Thank you. I was watching the volatility index yesterday and it was sinking at one point. Is that a telltale sign . This was crazy angie and we had talked about this a couple days ago. We saw the vix trade almost 16 1 2 right before the taper announcement on wednesday. Then yesterday we saw this thing trade down all the way under 13. It traded 1290 and it closed up a little bit
Market action had to do with calming comments about the economy from new fed chair janet yellen on capitol hill thursday. The wall street journal reports quiznos is preparing to file for bankruptcy in the next few weeks. The paper says its due to declining sandwich sales. And, jos a bank rejects a 63. 50 per share offer from mens wearhouse but is willing to consider higher bid. Trader chris gersch of altimus capital joins us on this friday morning. Happy friday to you chris. Happy friday. We definitely saw those yields move on yellen yesterday. What do you anticipate for today . I think that we are going to see continued yield movement. What is really strange about those yellen comments came outyou had yield to the downside when in the equity market we closed at all time highs yesterday. Thats sort of a conundrum. You dont expect yields to fall with all time highs. But i really think that one going lower and one going higher will not survive through the trading day today. Look for yiel
Scott bauer of trading advantage is standing by. Good morning scott. Good morning angie. You have your eyes on stocks to watch in 2014. Lets start with the financials. What would be your pick in that sector . The financials are really what have led this market higher in the past couple of years and now that weve already seen one tapering with more to come, rates are going higher and quite frankly the banks make money when rates go higher. I love Goldman Sachs, i love jp morgan, i love the entire Financial Sector so if you wanted to play it just on a macro basis, you can go into the etf or the xlf, but really goldman and jp morgan is what im watching. What would your play be on the consumer and Consumer Spending just for everyday goods . The Economic News has been pretty good. I like the Consumer Staples industry. I like the procter and gambles of the world. I like cocacola quite frankly. These consumer staple stocksthe ones that have just not really outshined the market but have just t