Into the market. And there he was. The man known as the god father says the market is setting the stage for a vigorous rally. Ralph acampora will explain why. Goldman sachs has been the big winner since the election. The banks ties to what is being described as one of the largest financial flaws in history could be a red flag for investors. We have details on the important story coming up. And a survey says economists are skeptical of president elect trumps growth plan. Billionaire carl icahn appeared on Halftime Report earlier today. Hope you saw that great interview. He is concerned that the money going into the market right now is coming from people who just dont study the market. There is a lack of stock for sale. Yet on the buy side from what i consider a lot of investors that really dont study the market. They are giving it to people, giving it to a buyer of etf. They tell you the goal is to buy through a black box. There is nobody deciding is this a good stock. Can you decide if
Energy, financials, industrials, small caps taking off in the month following the election. But since the s p touched a record high in december 13th its been a different story for those trades all lower while tech and bonds have actually rallied. Are we seeing the end of the trump trade . Guy adami has been here from the start, meaning the start of the show. Congratulations to guy adami who has been a godfather so to speak. Not referencing chronice ining. Is the trump rally over . No. Its good to have a pull back. One thing thats taken the market down aside from the internals of the market, the advance declines have not been great but fact that energy has given up the ghost. Thats the main reason we cant get above this 20,000. If youre looking for dow 20,000, in my opinion, the best possible thing that could happen is we see it move down the s p, back down to levels that steve talked about last week on fridays show. Everything were seeing now is appropriate for a market thats had a run
Fast money. Coincidence . Maybe not on. A day that tech dominated, we saw it could have been a may know day after they all report better than expected earnings. The financials ended the day without much fanfare. With not a lot of holding pattern, it is time for classic fast money game. Well pull it out in the a block. Would you rather tech versus bank . Right out of the gates. Banks or tech, would you rather . Right at the top. Banks im going on get crust on this. I say banks. Tech is a pretty broad thing but i think i can get my arms around it. I think whats happening. People are not pricing it price to earnings. Jpmorgan says the tangible book value is basically 52 give or take. I think the right multiple for that, given what everybody expects under the new Trump Administration is somewhere close to two. Youre talking about a stock. It is expectations. S p 500, 6 and you have banks saying Net Interest Income was not better. Some of the expenses were. Thats where you got a lot of good
What this means for the retail trader, and Roger Mcnamee will be here. Lets get this the party started. We begin with a simple and perhaps not an easy question the dow at an historic high. What is the first thing a Retail Investor should do right now . Thats why it is interesting. Dow 20,000. Retail investors will put on the evening news, see lester holt lead with dow 20,000. It gets people talking about the stock market. They can say it is not a big deal but it is a big deal because people are engaged once again. People can look at the stocks. Names like home depot which made an all time high today. We talked about mastercard and visa forever. Both of them at all time highs. And at t which everybody has heard of. Is it a big deal . Yes. Are there name you can still buy, absolutely. Should we be worried that buying at the tops . What is exciting, it is happening at a time when i think were getting global synchronized growth. I talked about the pmis that have been extraordinary. A count
Highs if. The chart master says has even more room to run. First an historic week of stocks. All four of the major indices near record highs. The s p 500 and the nasdaq posting their fourth straight week of gains. We thought it would be a Perfect Little trade it or fade it names would you either keep buying or names that would you cut losses on. Lets check out the biggest winners on the do you. Cisco up 7 , pfizer, boeing, jpmorgan up 4 . Do you trade or fade theser . One buy, one save. Quickly. Quickly. I like boeing. Ive liked boeing for a while. It made an all time high today. Valuation, people say it is stretched. I disagree. The favorite is proctor and gamble. Too rich, too. Too fast. Not a high beta stock. A high had market cap stock. It is a huge deal. Doesnt this tell that you there is no Pricing Power . These guys are not going to top line. Theon way to do it. It is almost out of desperation. In p gs stock, this is 20 a share or so. I think thats the one you fade. Oh, he fades