Says a 10 correction remains the most likely outcome in the nearterm. Joe, tell me whether you agree with this call he said last weeks failure to break through technical resistance for the second time suggests the correction is not over he expects softness past the election before the next leg of the bull market. Do you agree with that last monday we got up to 3,459 on an intraday high. The previous high was 3,588. The reason we pulled back is the absence of a stimulus deal the conditions are fully in place now to exceed that 3,588 high when you look at retail sales in the u. S. , when you think about the strength of chinese economic numbers, think about the fact that yesterday we had the single largest travel day for the Airline Industry in the united states. Clearly the conditions are in place. If i look within the markets itself, its just not technology on friday reaching 52week highs. Air freight logistics, construction and engineering the conditions are there its the absent of sti
Market not able to meet that sort of pricing expectation. Well, your Investment Committee today, joe terranova, jim laichb thal, pete najarian, and rob sechan is there anything, joe, that we can take away from peloton even maybe uber and lyft we dont know the numbers. They havent had a public quarter. Im not asking you to analyze the stock. You want the good news first . Sure. Its not smile direct now if you look at the stock, you say to yourself, what is it . Is it technology what is it exactly that we just brought to the market . Fitness is very difficult. Pete and i were just talking about this before the show you go back to 2002. Think about may of 2002. Nautilus was 45 nautilus is basically 40 million market cap at this point. A dollar fitness is difficult to offer on a public exchange. Think about vitamin shop, gnc. Now, you get the occasional Planet Fitness which is falling back to earth right now. But at the end of the day, it is difficult to get a Portfolio Manager confident a
Tomorrow night and apple making a nice move today as well. So were going to get to all of that. I do want to begin with you, josh, because you have interesting new moves that you have made in this market, and the first one is you bought corning. Glw, trading right around a 52week high. I dont know, pennies away from that. On pace for its seventh straight day of gains. Amidst this momentum, why are you buying it now . So it might be a little bit short term overbought, but this is the type of tactical situation that viewers of the show know that im personally looking for. Im looking for really Good Companies that are at some sort of an Inflection Point where the buyers are overwhelming the sellers, and thats exactly whats happening here. This is one of the Oldest Companies in america, 170 years of innovation. Theyre in all sorts of verticals, life sciences, mobile phone and computer displays, specialty materials. But the real driver here, judge, is optical fiber. If people were around du
2017 bring in. Rob, if you just brought the s p 500, you got your 10 rate of return on stocks. What should the longterm investors go into next year reflect on . Dont panic. We started with a massive selloff, and mixed data at the end of the summer caused another selloff, albeit shorter. Brexit as well caused a selloff. I think the idea of focusing on fundamentals, looking beyond the immediate market noise and media noise, investors would have done well by doing that. The second thing i would say is dont confuse the base case with a done deal. Brexit markets priced in a stay. It surprised everybody. Then the trump election. In each case, again not focusing on the noise, focusing on fundamentals made sense. The final thing i would say is dont underestimate the Central Banks. There has been a lot of talk about policy reaching its limits and becoming less and less effective. What they have proven whether it be the fed other ecb or any central bank, the ability to engineer commentary and po
2017 bring in. Rob, if you just brought the s p 500, you got your 10 rate of return on stocks. What should the longterm investors go into next year reflect on . Dont panic. We started with a massive selloff, and mixed data at the end of the summer caused another selloff, albeit shorter. Brexit as well caused a selloff. I think the idea of focusing on fundamentals, looking beyond the immediate market noise and media noise, investors would have done well by doing that. The second thing i would say is dont confuse the base case with a done deal. Brexit markets priced in a stay. It surprised everybody. Then the trump election. In each case, again not focusing on the noise, focusing on fundamentals made sense. The final thing i would say is dont underestimate the Central Banks. There has been a lot of talk about policy reaching its limits and becoming less and less effective. What they have proven whether it be the fed other ecb or any central bank, the ability to engineer commentary and po