Strong week for the markets, and strong broadbased tech, and financials down the list, and it is big against a big backdrop of the oil hitting 50 this week, and the fed chair speaking in an hours time, and josh brown, i go to you first, new highs in the offing . We are not that far away . We are not that far away, and what is really, really great about the positioning that we are seeing here is that the advance of the climb line, and it is absolutely cooperating and breaking out in and of itself, and you have a lot of the small and the midcap issues getting the job done, and it is a marked contrast to last time we challenged the levels, and way different from what felt like the end off a bull market a year ago, so it is a Long Time Coming if we punch through, and one very clear positive is that it is a lot of stocks hanging out here, and not just, you know, the nifty nine or fang or Something Like that. And you know, serrat, you have apple back to 1,100, 100, that is a closely watched
There have been unexpected positives that are forcing big Institutional Investors off the sidelines even if the average didnt do much today, dow gaining 47 points, s p inch up, nasdaq advancing. People didnt see what im about to talk about coming. And its really changing the landscape. First, i dont know many who look back at the last week and august and thought we saw a surge in activity in the use. But if you look, youll see something uncanny among all the charts of the industrials and all tech stocks. Youll see a bottom. Thats right. Those stocks, which have been pretty much in free fall for most of the summer if not the spring, started their pivot right then, at the end of august. Ive been over and over that period, trying to figure what the heck changed the economy to turned those stocks around. The answer not much at all. If anything, we caught another leg of delegal raciieseceleratd. The dollar . No. The earnings . Nothing. They were almost uniformly bad. No, there was only one
People never learn. Given that were on trook have the best october in four years, dow gaining another 74, s p limes 6. 4 and nasdaq advancing 3. 4 , maybe investors will think twice before they put their brains in portfolios on month by month autopilot. Selling in september, and sell in may and go away for its by rote ridiculously, imfatuous, lacking of intellect. Next week is the busiest of the busy. One of four weeks in the year way too Many Companies report. I stress, this is a terrible time to make snap judgments you have to wait to hear the Conference Calls, and you want a perfect example . Look what happened to those poor fools ooh who sold Goldman Sachs down after reporting only watching zoom up 8 from the bottom. A morning Conference Call people didnt listen to, sold too quickly. The sim pliclistic headlines, r 50 of the time . Thats a coin toss. We dont invest in coin toss situations. [ buzzer ] house of pain. Thats where youre going. The game plan for next week . Pick and cho
Profits for the next couple of years. You know what, it was a take your breath away market. And an incredible announcement. Caused the stock to cascade. Down 10 , losing 21 billion in value. One day. And it woes in turn spilled to the rest on the market. With the dows decline, the s p falling nearly half a percent. What is done and is done though if you own any stocks, involving these stocks you got clobbered. Although the initial and ridiculous over reaction down from netflix, one of my favorite stocks was rectified after. I want to step back and determine whether the reaction to wall hmart and the stock mar was justified. Something we will do when we sit down with the ceo of walmart later in the show. First, should the earnings news have been a surprise . Obviously shocked in wall street, you dont get a stock that much. I know doug will make a case that he telegraphed the earnings, after he talked about paying more and more, and over investing in the stores to restore growth to the F
The rest on the market. With the dows decline, the s p falling nearly half a percent. What is done and is done though if you own any stocks, involving these stocks you got clobbered. Although the initial and ridiculous over reaction down from netflix, one of my favorite stocks was rectified after. I want to step back and determine whether the reaction to walmart and the stock market was justified. Something we will do when we sit down with the ceo of walmart later in the show. First, should the earnings news have been a surprise . Obviously shocked in wall street, you dont get a stock that much. I know doug will make a case that he telegraphed the earnings, after he talked about investing in the stores to restore growth to the Fastest Growing store chain in the land. Before he took the chains in the can, the china was trying to lower merchandise pricing for customers. And ended up cutting the bone of good store management. Wall street fell in love with mcmillan, with the stock going to