Underscore todays desperate need for a market catalyst and on that note if you missed the moves because you thought stocks were up way too much, im going to show you the difference between chasing the price and chasing fundamental. I have two my favorite analyst to help. Also Vice President pence wrapping up his first Coronavirus Task force briefing, the first 22 months as a number of new cases hitting alltime high, will go live to the white house with the very latest and conservatives are flocking to a new social media site, double standards from facebook and twitter. Heres the big question, well President Trump walk there. All that and so much more on making money. Charles the market selloff after yesterday proved a point for a couple weeks, stocks are poised to take off what they did in the last hour of trading yesterday on hopes of a friendly news from the feds stress test and strong earning from nike. As it turns out folks were very disappointed leading to the low session but it does get us back to the notion that were waiting on a catalyst in meanwhile certainly coming a lot earlier in texas and florida adding pressure to the selling as well, i want to get reaction to the ceo of aci Financial Company along with Wealth Management cio scott martin. First the notion that this market came a very long way in a short period of time in a record amount, now it needs new catalyst or ill start with you, if we dont get the catalyst soon we can be vulnerable to a pretty good pullback. Like you said, we had a big run right here, quite honestly some consolidation is really what we need in the market, if you look at the exponential 200 day on the s p, thats 2975 and we have not touched that yet. Its a lot of panic over nothing, from the beginning weve been saying the resurgent of covid, were seen that now but to be done one and a half 2 , not a big deal. I like to see a bigger pullback, names would like to get into here. Charles im digging the 200 day moving average, support point but if this fails, it can be a good structure to the 50 day move. Finding comfort in the 200 day to allow it to watch and as you mentioned, i like your lead about the last call effort and frankly drops point to, as a market pullback its similar to the thursday we had a couple weeks ago where the stocks got slaughtered on the travel side, big side which we talked about before which is last call which is levels that popped right back and given that it does feel scary where we are in the covid resurgent environment, the reality is we know so much more about covid and we did a month or two months ago so even if a bounce back happens with the virus in the spread, i think the economy, market and society is a lot more prepared for it. Charles speaking of bouncing back, the banks do buybacks for a quarter, nike did meet expectations from wall street but these are the names that i think look attractive on the pullbacks, would you be a buyer . I would, we own them and we will be. Its based on a few things, perception of the companies turned south lately which is a great time to buy because perception slides down a hill and thats when you have to grab stuff at good valuation points. As far as nike, nike is a global leader, they will come back strong as a consumer comes back and if you look at financials real quick as well, we own j. P. Morgan, we own citigroup in the portfolio, the feds backstopping Everything Possible that they are doing on their balance sheet, the risk is not very high in our opinion. Charles something that is interesting, the numbers, i will put them up here, they look like something you might see on a slot machine, 3333, that is a new share price target on amazon. Its the latest on the price upgrade in the last couple of weeks from Deutsche Bank and they thought the stock was gonna go to 2750, its a substantial increase in dont forget last week one analyst said this will be a 5000 stock in a couple of years. Each day for the last few weeks weve seen awar wave of stock pe on stock that have already had my locker list runs in so many investors are telling me or asking did i miss it, heres what i say to them, there is a big difference between chasing performance and also chasing and improving underlying fundamental. I want to know from you, any stocks near or at a 52 week high that you would consider chasing because of the underlying fundamentals, not because of the greater pulled everybody else is buying. To your point, you mentioned one of them and it is Amazon Amazon and apple, those are the two names that i own and i look for any pullback to add more, these are dominating companies, look what amazon does on a daily basis, they ren reengineer the y that we do almost everything, your longterm investor, those of the two names, amazon and apple, you dont trade in and out, ive owned amazon since 300 and i dont plan on selling anytime soon. Those are two names i stick wi with. I would take money off the table from owing it from 300, we have from 500 or so but just because a risk averse and some degrees. Adobe is another one i would add, cloud you know what they do is for software, there an amazing company, an amazing bottom line and revenue growth, i would keep adding to that, as we always say, traders and investors are two different beings, whether your trading for the next five or ten or investing for the next 30 or 35, those are two separate things. Charles i love that stuff, rob scott, stay right there because the other big market story uptodate is facebook, it is actually picking up steam, unit labor is joining verizon, they are dissing the social media tied for now and they join other high profile brands, smaller names but still impactful, ben jerrys, patagonia, justin a some, all of the facebook ads for lack of progress and hate speech. These businesses taking from the Antidefamation League and the naacp which by the way last week they called for a boycott, obviously this is the ultimate form of corporate activism, it comes with a lot of risk and bring in discrete media president. Beverly. If you have to take the steps, you better make sure your house is pretty clean as well. It is a huge risk, you mentioned an increase in companies wanting to boycott facebook, you look at the numbers weathers 900 businesses that decided to move forward facebook works with 7 million businesses to advertise is not decided to take the position. Even Mark Zuckerberg had a meeting on tuesday with advertisers and one Company Considers egregious, someone else may not when were talking about hate speech, this is a broad term in a polarized environment that we have in this country, for businesses it is wiser to wait, a lot of businesses and i talked to ceos this week, they said we dont want to wade into the waters, we treat our staff with respect and we dont have a product that relates to defunding the police, why would we wade into this. I think facebook is taking a smart move and getting hit in the News Coverage but in the long term this pays off. Charles heres the problem, you talked about perception of hate speech or not, i saw a piece a couple of days ago where facebook moderator said if somebody is wearing a maga hat, they consider that to be hate speech and they will delete them. Theyre getting into treacherous territory as they consider that hate speech but they cannot be clear on so many things that are obvious hate speech. Absolutely, twitter has taken a different perspective on this, twitter decided to fact check the president of the United States even on something as absentee voting, facebook has taken a different approach. I think itll pay off for them, something you mentioned earlier there will be a new site which is trying to compete with twitter, twitter may lose a lot of followers especially President Trump decides to use parlor instead of twitter. Facebook is playing the long game with this, i think its a very big slope on companies thinking the arbiter of truth, especially since so many of the facts these days in terms of hate speech seem to be a relative term. We know ben jerrys, extraordinarily leftwing companies, i would not be surprised to see levi, but verizon, could that put pressure on Bluechip Companies to follow their lead at least temporarily. I think its a way for people to feel pressure by the mob, there is a mob mentality where people feel like they have to Say Something but heres where i wonder, how large is a silent majority who looks at the issues of the day and realize theres complexity, nuance where they may say, we need to focus on black lives being important but i dont want to align myself with a Political Organization called the black lives matter. I think theres nuance and there will be customers who say im not to go with verizon anymore, im knocking ago and by the north face anymore because i disagree with politics into everything in life so i think these companies are taking a gamble and we will have to wait and see. Charles great insight. Thank you very much. I want to go back to my trading brose for their reaction. Yesterday, my subscribers take profits, im feeling good about it today, what are you thinking . That was a great call and great interview with beverly. The economy that were dealing with right now, whos to say what, this is about capitalism, i dont think its about esg, social corporate governance. There is an indictment on silence right now in these companies are tripping over themselves to do something, being in for one month i dont think thats a huge deal. Facebook, i like it, an instagram, whatsapp, you have to buy this in my opinion. Kudos to you for getting your subscribers out. I think you take the pullback in facebook, you have a chance to buy it lower over the next month or two but net earnings margin, net profit growth, stockpiling cash and rob said they have a teeny little Small Company called instagram that is killing it. But besides facebook i think own it. Im not going to lie ill be looking to buy back. I only have a second left, then number one stock in the market today is gap store, kanye west a ten year deal propelling the stock like a rocket. Would you chase it . I would not. Even kanye west cannot make me shop at the gap. Im taking a pass. Charles i heard you had a couple pair of ezines at the crib. All stick with the easy and leave the gap stuff just got in. You are both fantastic. I appreciate it. Important stuff, rob scott, always appreciated great have a great weekend. Charles coming up the fed putting on big banks on a timeout making them prepare for an absolute recession to get worse also the communication director for 2020s social media site that conservatives are raving about. Where will the president join, speaking of President Trump, he said to address the American Workforce policy report, that meeting is in our hour, headed by ivanka trump and we will bring in the remarks when they start. Well be right back. Y for what you need. What do you think . I dont see it. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Charles prominent conservatives are packing up the social media belongings and heading the parlor, a selfproclaimed preexpression platform being launched by republicans after twitter flag band pro trump accounts. Now the question how long until President Trump makes a switch for that, i would like to welcome trump 2020 communication, thank you for joining us. Thank you charles. Everyone at twitter is hitting me up, when are you joining, apparently its the hottest app on apple right now and hundreds of thousands of folks have made the move, Free Expression sounds so great in inviting, windy think President Trump will make the leap. Recently number one get ahead of President Trump on any of his decisions but social media has allowed the president to be able to push past the news and immediate filter unbiased and put his backup and opinion out there and share straight with the American People what is actually going on, twitter mafia has decided to try in fact check as they want and add filters to the president speech. People cross the border looking for ways to share the truth in the facts and if parlor is another way of doing that, were doing on the campaign and we have a team trump account and many members are on their, its another opportunity to get the facts out there. It is a huge calculator risk, and i think facebook is going to vow to pressure as well, the liberal pressure. I think a lot of the Media Companies forgot where they were in 2015, 2016 from the New York Times which was drowning, they reached out to mexican carlos for a bailout to the social media platform, 60 some odd Million People voted for the president , why are they trying to push them off their site. It is pretty clear there is avery antitrump bias that exist in the big Media Companies. The question is fair to say if twitter would exist if donald trump havent kept in relevant by being a strong user invoice on twitter and its hard to believe that the outlook might be as prominent as it is without the president but they dont like his message, they dont like is no holds barred approach to get his message straight to the American People and they are trying to suppress the conservative voice, this is not anything new, they have their biased with shadow banding, hiding accounts and hiding tweets for a while, the closer we get to the election the more becomes an issue in our ability to get the message out there, this is a campaign that is robust, has lots of ways to engage with supporters and bring new people into the post, social media and the news should think donald trump because they wouldnt have much to do. And with President Trump who is keeping them on their toes. Charles let me ask you speaking of the media a lot of them are trying to put the last nail in the confit of the trump reelection efforts to enlist strains of articles abide in winning and leading in polls, is there any sense of urgency or panic within the campaign . This is a campaign that remains cool, calm and collected. We have been running like weve been a point behind or more and we never take anything for granted, to get President Trump reelected we have to fight against the fake news and the media and the liberal bias that exist in all social media platforms and the wag the way te engage with her supporters, we continue to bring people into the full and you see that with the toll so rally where we had 11 Million People watch the president online, the trump 2020 campaign app where we are directly in supporters phones to engage and get back to them. The media wrote donald trump off at their own despair and you know what if i was in the media and a quarter journalist as some of these people pretend to be i would try to get out for once because it clearly did not work in 16, dont underestimate donald trump in his campaign, were hard, ready to fight and going to win. Charles will leave it there with an exclamation point. Fantastic talking to you, thank you very much. A number of coronavirus cases hitting another alltime high on 40000, the deadliest days back in april, where do these dates go from here, we will get updates from the white house and the fed forcing them to and their practices in the wake of the pandemic. One member really slamming things, you will get those details right after theea break. Yyeah yeah hey, hey that selling carsarvana, 100 online wouldnt work. But we went to work. Building an experience that lets you shop over 17,000 cars from home. Creating a coast to Coast Network to deliver your car as soon as tomorrow. Recruiting an army of customer advocates to make your experience incredible. And putting you in control of the whole thing with powerful technology. Thats why weve become the nations Fastest Growing retailer. Because our customers love it. See for yourself, at carvana. Com. Charles the Federal Reserve putting new restrictions on how the biggest banks spend capital to protect the Financial System from risk from the economy that are posed by the coronavirus, not only all fed members were on board, some wanted to strongly object to the decision, Edward Lawrence joines is now, i read a statement, she seemed livid. Way, did she ever, she was a major dissent on this for the stress test that came out of the stress test by the Federal Reserve for these banks, the governor thought that bank should not be allowed at all to give dividends in the third quarter. The ultimate plan the Federal Reserve capped the dividend at the secondquarter level with the formula used by rac recent income by suspending any stock buyback in the thirdquarter and the dissent he writes this, its time for a large bank to preserve capital so they can be a source of strength in a robust recovery, she goes on to say i do not support giving the green light to deplete capital which raises the risk that they will need to tighten credit for rebuild capital during the recovery, under the stress test in the worst double the scenario, the recession double dip, the only American Bank that was above the minimum level was goldman sachs, the rest were comfortably above the foreign half requirement, the aggregate for all the banks and the sensitivity test was 7. 7 cash reserves for the worst case scenario, the Federal Reserve yesterday downplayed the dissent when i spoke to them saying she only had a problem with the one issue of dividend but nothing else was the plan so again downplaying her but she