87, the s p 500 is up 10. 5 this month the russell 2000, the biggest ever month live oly outperforma small caps that sort of sets the scene for us your note today to our producers to me says everything, bryn. You say, yeah, were overbought, the market is technically ahead of itself, 200Day Moving Average but wed be buyers anyway yeah, you summed it up perfectly. I think to give some perspective around that, when youre looking at technicians or technical calls, the 200 Day Moving Average, over 90 of stocks in the s p are over their 200 Day Moving Average when that number gets above 80 , thats typically a time to take a stand back as a trader as an investor, though, as we are, you want to take a look at that and say, hey, if we get a selloff, which im sure well get because thats just the price of admission for being an equity investor, we absolutely want to be in stocks because what are your alternatives cash or bonds . And both of those offer you no yield and so we also think that next
Materials, industrials hitting new intradays. The small caps doing well. The russell 2,000 at the far right side of your screen. Jim, i want to know where you think we are now you have great vaccine news. Its consistently great. Were not that far from 30,000 on either day we have headwind tailwind. Each day you can make a tailwind case i can make a tailwind case that you have to buy the airlines right now. This norwegian cruise deal is done, you want to buy that group. I can make a case that you have to buy the stay at homes, the deep cyclicals, a case for the technology stocks. This is what weve looked for. Thats why i came in gunning for the armageddonists theres a fabulous piece out that covid did not rescue the armageddonists from underperformance and purgatory its time to call them out im asking all the panelists to call out the people who said it was the end of the world call them out. Well, weve gotten great vaccine news it sounds like to me youre saying you can still buy the cr
Up to deliver vaccines to remote areas. We start on wall street where the Stock Market Rally continues with the s p 500 and nasdaq closing at new record highs. Americas Top Companies are reporting better than expected results. The senate is inching towards passing President Biden s 1. 9 trillion stimulus package. And theres been another fall in the number of americans filing forjobless benefits a sign the Labour Market is stabilising. There are still huge problems facing the worlds biggest economy but investors believe the flow of cheap money from the Federal Reserve will keep on coming. The biggest problem isjust that we have 20 million americans who are still in some state of receiving Unemployment Insurance benefit so we still have a really long way to go on the labour front and that take quite a bit of time to resolve. But gdp and output may recover faster but it will take more time to employ that many americans. I think it means that for market, we now believe that for market, we
Nonstop on cable news. Not just on cable news. We are hearing the very same thing from elected officials including some republican elected officials. We are hearing it from the leaders of federal Law Enforcement agencies and of the intelligence agencies. We are hearing it from the pentagon. Just this week the new Secretary Of Defense ordered the entire u. S. Military to, quote, stand down while investigators cleanse the ranks of political extremists. And of course we are hearing it from the Business Establishment from wall street from the Tech Monopolies from the massive multinational corporations that increasingly control the contours of american life. All of them are now on the hunt for political extremists. And at one level that does not sound bad. Because no sane person is for political extremism, especially violent extremism. We are against it. Were for moderation. We are for incremental change. We are for the consent of the governed. We said that every day for four years and we m
We are hearing the same thing from some republican elected officials, we are hearing it from the pentagon. Just this week the new Secretary Of Defense order the entire u. S. Military to stand down while investigators cleanse the ranks of political instigators, we are hearing it from the Business Establishment from wall street,r from the massive multinational corporations that increasingly control the all of them now on The Hunt For Political N extremists. O we are for moderation and incremental change, we are for the consent of the governed, we dont like extremists either, we attack them regularly. Its not enough to be against something, you have to be more precise than that. What is it youre against . In order to root out a problem, you have to know what it is. You need a sense of what youre looking for, a clear sight picture. You have to define the terms. Heres the remarkable thing weabout this public conversation were having. No one is doing that. Have you noticed . None of these ne