Instinct behind the selloff. The nasdaq nosediving 1. 62 . Yet, people want to sell pretty much everything right now. Particularly high growth. Or maybe everything except whats being going down endlessly like oil where the stocks bounced. Even as the price of crude failed to do so or herbalife that finally caught some lift. Whats going on here . I think this market is changing the collaration. I think the vast majority of Portfolio Managers are fearful of buying the dips. Its too frightful to do so. Let me explain. For the longest time ever since the market bottomed over six years ago if you decided to buy some down and out merchandise, you wanted to pick at some value or grab some Growth Stocks, they were bounced around by extraneous events, you did well. In fact, the best strategy this year has been to wait for the stock of the company you like to come down to the bargain price and buy it. Buying opportunities they have legion. All sorts of washingtons toxic politics gave us some rep
First. But what if the definition of safety is changing right before our eyes what happens when whats prudent becomes what is reckless and what used to be reckless becomes responsible . That gentle viewer is exactly what were seeing in this market right now. Including today. Dow gained 71 points nasdaq declined. 11 but will change tomorrow when we see the reaction to huge quarters tonight. Right now it feels like were at beginning of first truly worldwide economic expansion since the 1990s. When i say worldwide, not china so strong can drag the world like a caboose i dont mean the euro zone is getting its act together or u. S. Is healthy enough to be the engine of Global Growth or russia, india, china are driving the bus. Im talking the whole darned thing doing better the planet, with the exception of venezuela when the entire Global Economy starts humming, you need to change the way you think about stocks its been a long time, ive been at this 40 years, you got to think about stocks d
This morning. The dow logging another record high as it marches toward 20k. Day one of that fed meetinging. President elect trump announcing exxon mobil chairman and Ceo Rex Tillerson as his pick for secretary of state. Plus, microsoft cofounder bill gates speaks out. Trumps policies on trade, relations with china, Interest Rates, and a lot more. But first up, the march towards 20,000 continues. The dow is on track to open trading at an alltime high one day after posting its 15th record closing high since the election. We also have the fed kicking off the twoday meeting, many expecting it to result in a rate hike tomorrow. Jim, i assume theres no doubt in your mind about that. No. And i think that the banks have to have it. We saw the banks waivever. This is not an all trump stock day. We got china, good numbers. Italy, major recapitalization. I think there was another time this market would be up huge just recognizing these italian banks are getting their act together. Im worried abou
Florida hugging the coastline bringing heavy rain and violent winds and dangerous storm surge that could reach up to 11 feet. We are very concerned about storm surge. The worst effects are likely to come. Reporter this was seen on orman beach as the ocean pushed in. We should back away. I know. Reporter hundreds of thousands are without power aftermath yew started the assault overnight. First light revealed south florida with largely spared major damage streettold they heed warnings and got out of the way of the storm a category 3 with sustained wind of 120 miles per hour, the storm is far from letting up as it pumpels the northern part pummels the northern part of florida. We are on the front end of the hurricane. We are not on the back end so we dont know how bad the damage could end up. Reporter georgia and South Carolina are now bracing for the impact with landfall near charleston a real possibility. Biggest concern we have right now is the fact that we need people to move. Reporte
Matthews a category two hurricane that takes it out of the major hurricane status which is three and above. Is causing devastation as it pushes into savannah and up int the coastline. Here is the storm path accordin to the weather centerer is using several computer models sustained winds of 105 mph gusting up to 127 mph looks lik this turn, moving back into the caribbean. Looks like it may do a loop before putting down tremendous rightful perhaps upwards of another flood of rainfall over that you can see on the computer model. To the last, in the 40s, Toledo Findlay. Chapters will be in the 60s sunday, Hurricane Matthew continues to move north it is still very dangerous. Is category 2 with winds of 105 mph blamed for four deaths in florida holly firfer is in Daytona Beach with the latest Hurricane Matthew is moving north after hitting the florida with heavy storm surge and rainfall to the carolinas and georgia could bring storm surges of up to 9 feet. Whether the evacuated or stage plo