All that and so much on making money. Charles obviously it was a tough week last week for the stock market but by the time the dust settled the year had become even more screwed as it was. Only 193 stocks in the s p were higher for the year. There were actually more losers on the nasdaq than there were more winners. I have no problem with the hit megagrowth stocks hit. Theyre still under pressure. I expect the trillion dollar stocks to be okay in the long run. But for the rest of the market, there were signs late friday that foreshadowed todays rebound. S p 500 held at a key support level. There was huge buying volume into the close on friday. The 10year yield marching higher. All the issues bothering the market are still unresolved and major indices must close higher to reverse the downtrend. In fact i think the s p 500 has to get above 3400 before you see buying go big time . Where does the market go from here, more importantly where should you be positioned . I want to ask Money Map Press shah ghailani. And head of Payne Capital group, a firm im not part of, ryan payne. First and foremost, chancer, i believe the fact we dont have any stimulus, into the fact we dont know when we will have it, possibly, probably contested election. We may not see stimulus perhaps until next year. Maybe the First Quarter of next year which would be really devastating to consumers and to businesses that need stimulus. And then the third leg of that of course is the covid crisis. Were seeing spikes in europe. Were seeing closedowns, lockdowns. Forget that over here. With no stimulus to support companies and consumers the market is really in i think nervous position and wouldnt surprise me to see us drop a little bit more here. We have got to hold those support levels you spoke about. Charles right. Ryan . Yeah. I agree with shah. The lockdown is a big issue. You dont want to discount, we could still see a kanye election. I dont think that will happen. The Economic Indicators came in so good for Third Quarter and jobless claims keep coming down. I think what everyone is worried about right now is this rebound going to be somewhat derailed because of those shutdowns . I think that is what on investors minds even more so than the election. Charles what shutdowns, what shutdowns do you see . I dont see shutdowns except in places that are already shutdown. You think georgia, arizona, arkansas, texas what will shut down in america . That the beauty of it, truth be told the states make those decisions. We know states have different views about how those shutdowns should happen. In new york here, youre right, it is already shut down. It will not be a problem if there are more shutdowns because nothing to shutdown. If you get that fear out of the way, charles, you have 2. 6 trillion in cash. That will come falling back into the market t will cause a huge meltup. Charles cheryl what has you most worried . To jump on shahs trifecta of trouble, i call the aggravation allstars. I will give you one more. The possibility staffing nation. We have a shouterrage durable goods, a shortage of Raw Materials in earlies of it commodities. Demand is still light, continuing to increase as covid starts going away. So basic economic supply and demand issue puts us in a real pickle because of supply chain disruptions. Well look at rising costs. That can create a real problem for the fed. They will have to do something about raising rates in that happens. Charles well we do see rates going up on their own to your point. Lumber prices are going through the roof. Demand is there we got a pmi, number, folks, at 59, coming in significantly higher than anyone anticipated. The fastest growth since 2018. Lets talk about the message of the market, right . Because despite the medias fixation on covid19 last week, the names that have benefited from the virus and lockdowns, theyre not acting so great. Theyre not acting like there will be lockdowns. Zoom is coming down. Many names are getting crushed, by the way reopening names. Is it time to be focused on fundamentals rather than the investment trading themes . I like to look at it a couple ways . Number one i like to look at it in terms of meg ga trends. What will emerge, what is already emergeing like alternative energy. Value stocks. A lot will happen what maps with the election. I want to make it real simple when we traders on the floor we used an opening range. Right now were looking at an election opening range. Basically the highs and lows from this week, november 1st to november 6th, if it breaks out to the upside next week, it is bullish. If it breaks to the downside it us bearish. Charles i like that. You like that . Oh good. Charles okay. I like that. I think thats great. That is great for our audience. They can write it all down. Mark it down. See where we are today. See it where we are november 6th, use it as a gauge. Ryan what about you . I dont remember you being into thematic trades and though all seem not to be working right now. No, theyre not and i think your biggest risk here right now is on the upside because the problem is, once you have election charity, and markets love clarity, we know they love certainty, we already know, we can guess there will be a stimulus package as soon as that election is over. That is going to hit. We know profits next year, going back to fundamentals, charles, profits will be outstanding. Were talking about double digits on the s p. Small caps will be 10 above where they were prepandemic. The biggest risk is not being in. That thing melts up. The market ran up a couple times this year. Dont miss it again. Dont be fooled bit strategists telling you to sit in cash right now. Its a big mistake. Charles shah, you already talked about this several times on this show, about rotating out of these big cap names. You talked about banks. Financials, only two sectors are up on friday, financials and energy. Energy still doing extremely well here. Is that the way to go if really look at beaten down areas . Has their moment come . Are they ready for the closeup, mr. Demille . I dont think so. It is funds, fundamentals, fundamentals and i think a lot of new investors especially have forgotten the fact that fundamentals underlie everything. Theyre looking at the story stocks. Theyre betting on narratives and trading on narrative trends and they forget you have to look at the fundamentals of the story stocks, of narrative stocks of the narrative themes. Look at fundamentals reopening trades, cyclicals they arent there and some investors are taking potshots for example the cruise lines and airlines that proves theyre not looking at fundamentals. You can go into some of the cyclicals but you have to be wary of fundamentals. Have to make sure youre putting money with sound fundamentals. There are plenty out there to play the cyclical reopening trend. Charles there is some of them out there. I love this is all happening in the midst of earnings season. Im salivating. We know the names that are killing it. We know the names taking market share. That raised their guidance. Its a matter of being patient. This is what i want to ask before i let you go. Specific changes to your portfolio, depending on election outcomes. Shah, i will start with you. Im looking to buy any dips. Im calling it the the five, f, five dip. We could go 10 lower. If nasty, 15 lower. Every 5 is absolutly a buy in. Charles michelle, ryan, quick, if i can, is there anything you do differently depending on the outcome tomorrow, michelle. No the market is completely dispassionate. It will tell you. You have to not overthink. Follow the range breakers i mentioned before. Know that the market is completely dispassionate. Keep your emotions out. Price rules. Im with michelle on this. All weather portfolios. Stick to your strategy here. We dont know what happens when the election ends. Be prepared for higher Interest Rates, lower Interest Rates, market going up, going sideways. You have to be aware. Charles i love it. Why we call the show making money. Shah, michelle, ryan. Thank you we have much. President trump about to hold a rally in pennsylvania now. Coming up congressman guy rest rest roesch. Kamala harris tweeting a shocking video. My response is next. O get to. Its also about how you get there the all new 2021 cadillac escalade. Never stop arriving. Its also about how you get there to customizes yourcan gocar insurancetual. Com so you only pay for what you need . Really . I didnt aah ok. Im on vibrate. Aaah only pay for what you need. Liberty. Liberty. Liberty. Liberty. Adapting. Innovating. Lsetting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Its about giving people the resources and the support they need. So that everyone can be on equal footing and then compete on equal footing. Equitable treatment means we all end up at the same place. Charles i was disappointed to see senator harris narrate and post this video. The notion that any government can or should even try to engineer a society where everyone ends up at the same place seems more like the promise of socialism or communism or something orwellian. It appears senator harris has moved beyond the motion let us into race and let us be fair and honest, forget the race. Put everyone at the finish line or in this video at the top of the mountain. The video assumes that every white person is at the top of the mountain. This nonsense has overwhelmingly bad impact on black americans that white people are overly successful. If you speak proper english or get good grades in school youre acting white. It is selfdemoting and demoralizing. I like the area where the black guy jumps the rope to pull himself higher. That is real life for most americans. 99 of all americans. Of course we want our children and their children to have a better chance grabbing the rope and to climb over or around the inevitable challenges including those based on color, gender, political ideology and religion. This video and others overstates, overtures to state controlled out comes, i think are the forerunners of things like reparations for slavery, to make up for that 40acres and a mule fiasco. Maybe just democrat guilt since that promise was actually fulfilled. But then it was all taken back. All the land was ordered returned to white mantation owners after democrat president Andrew Johnson after Abraham Lincoln was assassinated. This utopia that Kamala Harris espouses. As overachievers of all races could be deincentivized. That would put the entire nation at the foot of the mountain, not on top. Joining me now to discuss former utah congressman, Fox News Contributor, jason chaffetz. You know, jason, the video to be quite frank with you, offensive. I get what she is trying to go for, but it backfired on her. I think it backfires on people miserably. I think so. First of all, charles, wellsaid. I think you stated the obvious. I think you stated the economies of it but i think senator harris is showing her true colors. Believe Bernie Sanders when he says that the bide moven harris ticket is the most liberal progressive ticket this country has ever seen. There is a reason why senator harris was the most liberal person in the entire United States senate. I think her radical policies do not resonate in america. I think thats why the bidenharris ticket will come in second place tomorrow. Charles really talking about serious, you know, redistribution but not just general redistribution or tax breaks or, you know, higher social transfer payments. Theyre talking about taking from people who have achieved you know, and then, putting it through the government machine which grinds it into dust. Giving crumbs to people as some sort of social justice. It doesnt work t wont work. It is called cuba or venezuela or some of these other failed states. That is the direction that they want to take us, in that redistribution of wealth. Believe joe biden when he promises you that one of the very first things he is going to do in office is raise your taxes. That is the first step to make sure that the government takes in even more money and redistributes it to back the way government sees fit as opposed to unleashing america and its entrepreneurism and letting them pursue what they want to pursue. So it is not a way, as the name of your show, it is not a way to make money. Its a way to grow government. Charles unless youre selling solar panels. China has got that market covered. I do want to ask you before you go, such a to have you, so rare, jason what do you make of businesses across the nation see them boarding up their businesses. Everyone is preparing for some sort of unrest, maybe view lens in the aftermath of the election . Well, you see big liberal, democratrun cities boarding up their businesses not because theyre scared of Trump Supporters. Because theyre worried about that radical left, the antifas of the world, the people that use any excuse to go out and loot and to riot and to do harm to america. So theyre not afraid of Trump Supporters. I think those businesses actually would like a few Trump Supporters there to cover their back but i got to tell you, i hope it is a calm, cool, collective. I think donald trump will win decisively. Hopefully a big decisive victory will calm those radical left. And you know, send out the national guard, prepare for it and repel those people who want chaos and destruction to America Charles congressman, it has been too long. I appreciate it. Thank you very much. Thanks, charles. Charles right now folks, stocks mostly higher as we head into election day but what would the Economic Impact be of a biden presidency . Well dig into that with peter morici. Later in the hour Fox News Contributor liz peek, why she believes liberal media is helping trump to win four more years. Well be right back t, not whats easy. So when a hailstorm hit, usaa reached out before he could even inspect the damage. Thats how you do it right. Usaa insurance is made just the way martins family needs it with hasslefree claims, he got paid before his neighbor even got started. Because doing right by our members, thats whats right. Usaa. What youre made of, were made for. Usaa charles all right. So i want to take a look at the potential impact of a biden presidency on corporate profits and investments. According to rifinitive would derail Capital Expenditures which many economists make the difference between years of okay growth and those years with great growth. It has an impact on Household Incomes and standards of living. They also she a sharp decline of earnings with 10 of 11 s p sectors taking a hit. The largest would be energy, income down 44 . Only communication services, google, facebook, twitter, would they earn more. On that note i want to bring in university of maryland economist peter morici. Peter, your thoughts on this . I dont think any sector will earn more money if we have a biden presidency. Whether youre google or exxon, if youre paying higher corporate taxes and Capital Gains are taxed at a doctor i dont doctor conian rate. The currency of. If we have high Capital Gains taxes. That is how we finance hightech and finance innovation. Charles right. So, this notion that, narrative some in Financial Media are saying that biden will come in and start writing these checks for trillions of dollars and that is going to be great and well all live happily ever after, it sounds so simplistic you wonder how every president didnt do it . Well have a sugar high. When he comes into office there will be more stimulus spending. The pandemic will extend into the spring before a vaccine really starts to grip. However his tax increases they will start to bite in 2022. And if you recall, it was the third year of the Trump Presidency when the economy really took off in a big way. Well have the reverse in a biden presidency. Well get a sugar high from the spending but then all the big tax increases and impact on Capital Gains and startups will bite in the third year. By the time he comes up for reelection the economy is going to be a lot poorer for his presidency. It is that simple. Charles right. This is the obama economy on steroids. Charles it is. You know, it is interesting because my big investment thesis for next year is all the money sloshing around there. 18 trillion of money supply already. Household cash levels at bigtime highs. This is before more stimulus, the vaccine probably sparks all of this. I think youre right on that. Well get the economy going. The stock market will look great. I do worry about President Biden making his taxes retroactive. I think that is why we get some selling now. But i do want to ask about Something Else here, the velocity of money this is of course how often money exchanges hands. The book seller buys something from the local florists. He buys something from the local farmers market. He buys something from the deli. Its gone. Look at the chart, peter. It is abysmal. It was abysmal before covid19. How do we get that turned around . How do we get money circulating in local communities so we all get richer . Banks have to loan money out to go into circulation. When the fed buys bonds to create money it goes on the books of banks. Businesses are not going to invest. Angel capitalists will not finance new ventures and so forth if theyre facing very high taxes and in a very uncertain environment. Lets face it, this year is a very uncertain year because of, trumps reelection problems and because of the virus, people dont want to invest and unless it is to make more paper towels, hand sanitizers and so forth. What they need is confidence they will be in a businessfriendly environment. So they are willing to go out to borrow money to basically create new jobs. Because you need credit to do that. Charles right. Until businesses are willing to borrow, you said at the very