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tv   Making Money With Charles Payne  FOX Business  December 1, 2021 2:00pm-3:00pm EST

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vaccine requirement for domestic flights? the president was asked about this earlier this week. that had not been recommended to him. you're a chief medical advisor. do you think that is something the country should adopt? >> i'm not so sure we should say that would be a requirement. i will say what you've been saying all along, that we have 60 million people in this country who are not vaccinated who are eligible to be vaccinated. let's get them vaccinated. let the people that are vaccinated boosted. charles: you're watching dr. anthony fauci. i'll charles payne. as you may know, the first person i think in the united states with omicron variant has been identified. the traveler who returned from south africa november 22nd. fully vaccinated. dr. fauci not aware whether or not the person has a booster shot. mild symptoms, self-quarantine.
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the news initially sending the market tumbling big time. we sort of found our footage little bit moments ago. this is a real test. we knew this was going to happen. so the shock to the system is happening right now. a lot of questions about travel restrictions and travel bans and you know, if the african travel ban made sense. we will keep monitoring that. we want to get to the markets which have been all over the place. this is amazing test for the market and biggest test of the year. this kind of reminds me, 25 years ago this december 5th, then head of the federal reserve, alan greenspan uttered the famous phrase, folks, irrational exuberance, how do we know when asset classes are unduly escalated? he admitted the fed should not escalate or become complacent about the inequities of financial markets and economy. the s&p was 745 on that day.
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it had a short swoon and went to 720 by december 16th. that wore off. the market believe it or not became more irrational for next several years. jay powell admitted miscalculating inflation will the market sober up. i want to bring in quill intelligence ceo, former fed advisor danielle dimartino booth. powell mea culpa. in the books. tapering happens a few months sooner after that. >> we'll have to wait and see, aren't we? we are sees signs, believe it or not gluts of inventory in certain pockets of the manufacturing sector. these are surprising data. saw it come out of the chicago fed yesterday, chicago fed manufacturing survey. we know also on the other hand inflation in housing and in rent, 40% of your typical u.s. household's budget is fried and continues to go up.
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a lot of moving pieces here. you could see industrial cooling going into 2022 yet housing stay hot, food prices stay too high, energy prices stay too high which would mean that the powell is going to deliver on what he has promised. owe will hurry up with the taper to start raising interest rates. neil: one firm sees three rate hikes next year. four year after that. i don't see how they come to that. i want to get the audience to understand fed speak, what these words mean. there was scuttlebutt once powell was renominated he would turn more hawkish. if that is the case, that is what he did yesterday, why do you think the street reacted the way it did, certainly with the panic yesterday? >> well look, nobody wants to have, no baby wants their pacifier taken away, no baby in the world. markets, they live and breathe liquidity. if you're telling them that the liquidity will be removed quicker and that interest rates will start to rise when there is so much debt in the u.s. and global economy, and the damage
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that it could percolate through emerging markets investors won't like it. again, nobody wants their passy taken away. neil: if you look at the wealth effect, housing boom is amazing, stock market rally is unprecedented, when you look at these things, i don't see how the fed can ever be aggressive with respect to rate hikes. you know, seven in two years. i don't see how they can pull this off? look, it is going to be threading a needle. he said it would be like watching paint dry before. now he is saying that the economy will be able to take a faster taper in stride. so we're hearing echos of the original jay powell from 2018 in congressional testimony. we forget his very first congressional testimony right after he took office in 2018 he said it was not the fed's job to backstop the stock market. well the jay powell we heard from last two days sounds a lot like the original as one he
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replaced himself with in january of 2019 after raising, hiking, excuse me, after hiking rates in december, continuing with quantitative tightening that led into the bloodbath we all remember in december 2018 on christmas eve. we don't know what this out come is going to be, charles, we certainly hear the tone of his voice changed quite a bit. charles: tone of his voice changed no doubt about it and i remember when janet yellen hiked rates after a few years, the market had a fit. didn't elect them until election of president. we have midterm elections coming next year. he sounds aggressive i'm not sure he will be when economy slowing into a midterm election. he looked uncomfortable ends aing political questions. he is expected by president biden and others to help the administration. things like child care, suggesting that, if we can get more of that, maybe people will go to work.
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saw him answer that yesterday. how far do you think he can be pushed to be a cheerleader for administration policies and plans? >> it really is going to be depend because there are a lot of moderate democrats and a lot of republicans, forget it, across the spectrum, lower income americans are being eaten alive by inflation, that is countereffect. last time he was dealing with this inflation was nowhere to be seen. neil: right. >> that is a critical distinction where we are today and where we were back then in terms of how determined he may be forced to be by other political powers outside of the white house. neil: all right, danielle, thank you very much. meanwhile get to gary kaltbaum and phil blancato. before we start with the last 24 hours, the news we knew would happen sooner or later, we have our first case of the omicron variant in california. markets fell apart. rebounded a little bit, have
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equalibrium here. fully vaccinated. not a booster shot. mild symptoms, self-quarantine. dr. fauci saying what he has been saying the last few days, we'll have to wait a couple more weeks to see the, how transmissible it is, but more importantly, just how. of a danger it is. gary, is this news changing anything that you might have been thinking about when you came to work today? >> no. it remains what i call a no biggie. we have much bigger things to deal with and may i state for the record and i fire jay powell and hire danielle dimartino booth to run the fed because of everything she just said. the problem going forward is simplistic. this man along with the lemmings around the globe have printed $30 trillion into the system. i've been saying all along i don't know what distortions it will create but it has to be distortions. it looks like the inflation.
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he never saw it coming. he was ground zero for it. now he saying whoop sy, the only with to remedy it, what he is now doing, that is my biggest worry, forced into tapering quicker and raising rates, by the way should be 2, 3% based on inflation. we'll see how it plays out. today was a nonstarter. you had major news come out, what drove the market back. i have to add one more thing, charles, high beta growth areas which got the most backing by easy money are getting crushed right now because of the potential for losing that easy money. phil has been on that big time last two or three months. well-done big. charles: also powell talked about covid-19 being the wild card and i think maybe what was somewhat surprising yesterday he wasn't dovish with respect to
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this omicron variant. taper was happening of the scuttlebutt on the street it would happen sooner but many thought when he released statement the night before maybe they would bide more time. it is in america right now. to gary's point, we're still going to have to wait. we are hearing anecdotally around the world, particularly in south africa, it is not necessarily as dangerous to us. they're asking him about travel bans, domestically and internationally. does this change your calculus at all. does it change powell's calculus? >> in my opinion, gary we needed stimulus to get to this point but exactly what he needed. gives him an excuse if he needs it because the economy slows too much to not do anything. i was surprised at, why did he muddy the two together? why did he with the announcement of comey cron, and taper later. to danielle's point you didn't need to do it at the same time
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which spooked market. in my opinion you should buy the dip here we have seen the movie before. this is the 15th letter in the greek al alphabet. it has eight different mutations maybe more serious. with this much liquidity pumped in by the fed. take advantage of buying the dip, money comes in to rescue us. powell set up for either side to win here. i think he will do fine, i really do. charles: then stock picking time. phil with that in mind doesn't you have to be very selective? today i'm looking at the action this is a sort of phil blancato kind of day. you had some of the reopening names are looking pretty intriguing last couple days in fact. do you stick with what you've been doing or have you changed? >> no, you got to stick with it. in fact i doubled down. think about gm in an environment like this, a company actively moving into the electric car industry, had a record run but
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still cheaper than historical averages. where will people spend money when interest rates grind modestly higher and inflation, pockets of high inflation, pockets of normal in that environment where do you consumer spend? think of amazon, think of gm that is where the bulk ever the money is spent by the consumer here. here is the chance. buy the dip. get things cheaper. rotate from large growth names that will get hit hard, idea of higher rates coming whether we like it or not will push down the earnings, a chance for you to pivot, take advantage of what the market is giving you right now. omicron is not as serious as it supposed to be. charles: gary, you mentioned about semiconductors. they look absolutely phenomenal. apple in a world of its own. do you stick with large cap megagrowth names that make a lot of money? you always talk about big time growth bring it to the bottom line and they are comfort food for investors every time they
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get nervous recently? >> semiconductors are en fuego. earnings and sales growth are gargantuan. with apple, microsoft, some biggies, that is parking money for the big institutions because they're selling off. i can go through 500 high growth names that have new yearly highs in february down 30 to 50% if not more. start with paypal, square, peloton and could go through a bazillion. that will be a place to be right now but i'm not so sure how long. charles: gary, phil, thank you both very much. great conversation. coming up, folks from capitol hill. we'll go there. janet yellen is really trying to explain that fuzzy math when it comes to build back better and that agenda. also as inflation becomes a political football, we'll break down the real cost with one of my favorite economists joe lavorgna, along with political commentator deneen borelli. we'll be right back.
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the prices paid that actually lowered. it went to 82.4. that was far less than consensus of 85. also the number peaked in june at 92. so i'm wondering, and moping maybe that was a top. i want to bring in former white house chief economist joe lavorgna. it begins with the prices paid by consumers. is there a chance prices could be peaking? >> possibly, charles. not to get too intoed weeds how the series are put together, the fusion index which is the prices paid series is, measured, everyone say prices going up. half the people say prices are flat. prices are high, after a while, people stop saying prices are going up. you kind of run out it of people going into the plus column. you might be seeing moderation in price. i'm optimistic we'll get lower prices next year. a lot will depend, charles, what
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the fed does and don't forget the budget reconciliation bill which could be upward in 4 trillion in size that stimulates demand, puts more money in the economy next year. the good news on inflation might quickly dissipate. charles: of course there is the debate over flexible versus sticky. that is intense all year long in part because the former has been such a large part of the inflation picture. that so-called sticky inflation, people might be surprised to know it is the highest since september of 2008. translate that. what does it mean for the average household and the average business? >> some prices are sticky, take for example, rents. rents don't typically change very much. up to the crisis they were running 2 1/2, 3% rate. now we're starting to see rents pick up quite dramatically, charles. you have had this housing boom. based on what home prices are doing, rents which tend to be sticky are going up. what you might get lower commodity prices which would be
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flexible prices, the rents which are sticky prices go higher as the name would suggest, if they're sticky, they don't tend to move a whole lot. i'm concerned we're baking in higher housing costs for the for seeable future. housing is biggest expense at a third of consumer budget. sticky prices are heading higher. even if inflation goes down next year, charles. it will not go down a whole heck of a lot, at least relative where people thought inflation would be a year or so ago looking out to 2022. charles: this has become a huge political issue. >> the number one issue. charles: we saw it play out with the hearings yesterday. today in the house. yesterday with the senate. a lot of these senators were taking aim at business, right? they're shifting blame. businesses are using inflation as an excuse to raise prices to gouge folks. here is the thing. the last earnings season, almost half the companies cited inflation during the cale. said yeah, inflation.
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at the same time we saw all-time record profits. net profit margins among highest ever. does this lend any credibility to claims there is profiteering going on? >> no, not at all, charles. 40% of all businesses are small businesses so those are people that less than 50 employees. they're sort of the backbone, they're the dynamic nature of the u.s. inflation market. look at the survey which goes back to the early '80s, the biggest problem companies are facing workers, qualified workers. these are not public companies where they are use the efficiency gains and clout to squeeze the suppliers. these are mom-and-pop operations. they are really hurt by higher commodity prices but also cost of labor. there is no profiteering. these companies are under tremendous stress. gives me cause next year you will see a big slow down because the companies can't hire people for variety of reasons, which is government imposed regulations of course. charles: joe, we're seeing that in the adp data.
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adp data came out today. the time the small business cohort was a big driver of new jobs. they have been struggling big time to your point. appreciate it, joe. we learn so much. even when it is bad news i always feel better a. >> thank you, charles. we'll talk soon. charles: folks, inflation is no joke. the way it impacts regular folks is astronomical. deneen borelli will weigh in on that part. my next guest grilled janet yellen and jay powell today. congressman lance gooden is up right after the break. ♪
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charles: so when jay powell moved the market it was comments by yellen over last couple days that piqued my interest the
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most. the treasury secretary made a report of comments that don't jive with research. the biggest bombshell, white house looking to bypass the senate, ignore the senate, place a new tax treaty integral part of the tax program. hearing the testimony from janet yellen and jay powell was congressman lance gooden from texas. i watched you. appreciate your questions particularly with build back better. just a lot your thoughts. there were a lot of evasive answers there. does anybody believe that that the build back better doesn't add to the deficit and wasn't paid for? >> i wasn't convinced. if he decides to replace the press secretary he should replace with the treasury secretary. she has done an excellent job repeating the line no one in the administration is responsible for the mess we're in. she hinted 2 trillion-dollar
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plan the democrats passed in february was one of the reasons for the inflationary reasons for inflation today but she couldn't bring herself to say that democratic policies have gotten us into this mess. everything was blame the pandemic, blame the pandemic. we're to the point now they're running out of excuses and spending even more money in this the upcoming milt at this -- multitrillion dollar plan to make things worse. charles: what bothers me, people compare emergency spending last year, compared to once in a century pandemic. shut down the economy, never done before. that was a bonafide emergency. i don't know why they're shaming republicans by bringing that up? >> i don't know that either. the fact that we spent the two trillion in february, this year, not talking about last year's emergency, this year, even if we all agreed, which we don't but if we did the trillions we spent in february was a emergency at least we can move forward.
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they don't want to do anything to fix inflationary re pressures. she admitted the huge bill we passed in february did not include dealing with bottleneck at reports and supply chains. they're repeating their mistakes. charles: it made it worse. on friday when we get a good jobs report, talk about threading a needle, there will be no emergency, i guess they will build one up. the interesting part to me about this whole thing the last two days yellen banking on getting getting big money from international corporations, u.s. corporations that do business around the world. it means massive changes to the tax code. a tax treaty needs 2/3 senate approval. they keep assuming they will get that. it is obvious they won't get 2/3 of the senate, does that mean automatically we'll see much higher taxes? >> i think that is possible. another thing i will mention they like to say all of these fundings, increase fundings to the irs to target rich people
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but they are wanting to hire 87,000 irs employees. you don't need 8thousand employees to target just the rich. they're coming after everyday americans. you will see audit rates come up, middle-class families will spend money and time dealing with difficult audits once they get the bill passed if think do. charles: 87,000 irs agents, did bring up the fact it would take a while to get them skilled up. it will be unmitigated disaster. unmitigated disaster. we have the officers detected case of omicron here in america. what do you think? it is early obviously. markets pulled back on the news. we're who hovering above the pls line. we're not collapsing. how much of that will be used to push through more quote, unquote emergency measures? >> i'm sure they will use it if they can. speaker of the house nancy pelosi was unmasked at a party in washington, d.c. sheave doesn't seem too
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concerned. maintains restrictions in the capital while the liberal mayor bowser lifted mask restrictions. we don't have to wear masks except when we walk into the capitol building which is crazy. i wouldn't put anything past them, if this is severe democrats will use it to push further tram plink of our constitution. charles: even strawn much advocates, americans reject any idea of another lockdown. congressman, good work. good watching you. bring in deneen borelli. jay powell admitted the fed misjudged inflation big time. unlike the biden administration. they never admit anything. they want to pour more money into the economy. that is sparking inflationary crisis crushing people. your thoughts on that? >> well look, powell violated the fundamental principles of
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economics and the role of the fed which is to control inflation. and look, charles, americans aren't stupid. the less supplies that are out there the more expensive things are going to be. powell's comments are inexcusable. wait, president biden tapped powell for a second term as fed chair. so in my opinion powell is only thinking of himself and not the country and not americans. charles: of course when you start talking supply and demand die nam i cans, part of the demand pouring extra two trillion dollars. inflation wasn't even a part of conversation until we got the extra 2 trillion earlier this year. the semis went flying. people went shopping, prices went through the roof and they won't turn back? >> no. prices are really astro momally high. those who are being harmed the most are the poor households, the low incomes.
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if you look at energy, for example, charles, this administration is doing everything they can to crush the fossil fuel industry. president trump had it right. you cut taxes, you cut regulations but biden is doing the opposite. they even want to tax methane. methane from natural gas. natural gas is many houses across the country, charles. we are expecting higher energy prices with this winter coming. charles: natural gas is really already through the roof. people will face many nights without going through any heat. i want to ask you about something happening last 72 hours, 48 hours. on monday you had a bunch of retail ceos. they went to the white house ostensibly to talk about the supply chain issues. they had suggestions comments. that same day president biden was scheduled to share thoughts with the public. that was supposed to be 3:45 things. that happened today. ftc ordered several retailers
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including some at meeting to turn over records. one of things they are looking for is anticompetitive practices. looks like the white house is trying to blame business again, blame corporate profits again and that really worries me this is part of the division. we were promised we would be united. ripped apart at the scene, gender, race, business, not business, it never stops. >> no, you're right, it doesn't stop. look americans are not stupid. there is a morning consult poll says 56% of adults blame government for the supply chain crisis. we've seen the visuals of the backlogs at the ports and the rail yards and the trucking industry. americans are not dumb but here we have an administration wants to point the finger at anyone except themselves and their failed policies. charles: i do have a good news bad news scenario for you with those ports. they passed something about a few days ago. so now the ships will move further out. so when you look from the coastline you won't see them.
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you will feel better. the bad news they will still be out there. deneen, thanks so much. we'll talk to you real soon. want to get back to the markets folks which have seen wild couple days. we'll go to charts for answers with one of the best in the streets. also how small investors are sniffing out opportunities. by the way i have a diamond hands story of my only want to share with you. we'll be right back. ♪.
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♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. ♪. charles: so it has been a rough few days, folks. so it is time to talk about the new investor revolution. i want to use my own investing tale if you will as encouragement. this morning i'm watching the tape, amberella crosses, up 22%.
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i was thinking i think i own that stock. i emailed that my broker, i have 1000 shares i bought in september, 2015. if you watch the network, kept telling people over and over again, play the drones, forget about gopro, go with amberella, the stock did nothing for years. this year it is absolutely on fire. i think it will go higher. pay attention the next few days. you will see two or three up grades from wall street on this stock. i'm sharing this, there is let of talk about people being diamond hands. easier said than done. for me the best way to know the value proposition. if it only gets better, no reason to sell a stock, don't sell a stock. i take profits from time to time in certain positions but something like this i simply put on the shelf. i want to get more into this with genevieve roter.
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what does it take for you to become a diamond hands holder after stock? >> i have a my diamond hands here, charles. this is something i will own for the rest of my life. you're right, november was tough. the vix was up 70%. volatility was whipsawing investors all over the place. only finished 1% down on the s&p. here is the thing. if you zoom out over american stock markets, they return 7% a year, 20% if you include dividends. asking me about specific stocks i have diamond hands that i am comfortable at night sleeping. i bought in reasonable valuation, 20 times pe, not 500 times pe like high flying defense stocks. they have a defensible moat from it perspective and infrastructure perspective. these companies like microsoft, apple, i'm comfortable owning
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for years to come because they have earnings growth. i say earnings. they actually make money. charles: a novel thing, huh? here is the thing, of all the new investors came into the market last year 40% were 32 to 44. 20% 18 to 29. i bring that up because do you think they should approach the market differently? >> the landscape has changed right. in our parents days, should we cold cash, stocks or bonds? these days kids don't want cash or bonds. they talk about the crypto market, private equity, private deals, nfts. the landscape is more complicated with a lot more opportunities. what holds true is being patient having a core portfolio where 80% of your capital is things you feel comfortable sleeping at night owning. >> wall street keeps guessing, maybe hoping small investor will fade away from the scene. there is a recent online search, if you look at the search information you will see these
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folks are looking for more opportunities. i want to get your thoughts what they're looking at because some of it is, you know, some of it is more risky than others. obviously call options, that has been a big thing. people made a fortune. options are not asset. it's a contract, they expire. thoughts and calls? >> call options don't make investors money. you hear about the million dollar wins. what about the million other people who lost money on call options? we put out a report talking about high volatility meme stocks, buying call options t could be very dangerous if you don't understand the volatility on these stocks where you're buying them in on. back in june if you bought amc call options in july for $50, the stock went up, the volatility went down, you lost money. a lot of investors don't understand it. they are new to the came. i would stay away from call options. charles: i'm running out of time. crypto, your thoughts on it right now? >> i think it is the best risk
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asshed on planet. if you don't own any i don't want to be friends with you. you got to be there, look at this asset class is growing. record numbers of bitcoin wallets. transaction wall lefts on the bitcoin network surpass paypal. they surpass most tech stocks. banking institutions are hiring on record pace for people in the crypto industry. blockchain investing in startups. it is five times than last year. it is absolutely exploding. i don't think there will be many chances to buy bitcoin under 100,000. not a straight line. get some exposure i say. charles: genevieve, i put you down as maybe. i think we can be friends. i opened bitcoin account with 100 grand sitting there. i will have to dm. you later on. special guest we have to tell you about tomorrow. she is known as miss teen crypto.
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started investing in bitcoin at 16. she is helping gen-zers bring it to the mainstream. i will talk to randy hooper on "making money." i cannot work. now it is more important than ever to use charts to be successful. i have one of the best in the business on deck. you will learn something. we'll be right back. ♪. ♪ ♪ ♪ ♪ ♪ ♪ with chase security features, guidance and convenience, banking feels good. chase. make more of what's yours.
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charles: all right, folks. you know watching the news says the market was up or down, that is so misleading. i spot to tell you lately it has been really off the mark considering the rolling damage coexisting with these record-setting sessions. today liz ann sonders at schwab put out a night. 735% of the members of s&p 500 are up for the year but get this, 93% of them experienced a drawdown of 10% at some point. by the way the carnage is far worse on the nasdaq and russell 2000. here is the thing, would this be a buy signal or a sell signal? joining me one of the best in the street, andrew thrasher, from thrasher analytics. how do we interpret market
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information about that? >> at end of the day the market is a market of stocks. majority of them are going up not a great sign. we have been balancing on the head of a needle on fin names. 50% of stocks are down 10%. 20% of stocks in large cap are down 20%. 15% of nasdaq 100 off 15%. we can go on and on. a lot of individual stocks are not having a great back half of 2021. charles: when you see that, do you say there is opportunity beneath the surface in this market maybe? where perhaps will the market go overall then? >> i think what it is telling us traditionally when you look at prior market peaks, prior times before we start seeing the market break down, most recently think of 2018 in the fourth quarter, it is often led by the narrowing of breadth, you have a lot less of individual
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stocks participating in the uptrend ever the index. we're starting to see a repeat of that now, the breadth is starting to narrow. the participation is starting to decline and that is not a good sign. what which want to see a lot of stocks participating in the uptrend. we're coming out of 2020 where 90% of stocks were above their 50-day moving average that is the signs we want to see. we're not seeing that today. charles: i think of it as one of the jenga puzzles, getting pretty tall but beneath the surface they're putting the little wooden pegs out. the vix, i'm not great at it. people make big money trading it. it hit 29 for third straight time. each time it pulled back down to 21. what has to happen next. >> i won the charles dow for a paper i wrote on plea checking volatility tsunamis. the system we use is looking for a spike in volatility the last two weeks. we got it last friday, the fourth largest increase in
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volatility in single day in its history. rose 10 points, 50%. i think there is nothing that requires the vix to do anything. we're in a higher regime for volatility ever since we came out of the covid crash. the low for volatility used to be in the teens or single digits. now we're in higher teens and 20s, that is the range of volatility. i think we could stick around there. if breadth continues to weaken, we have a lot of built in catalysts that could cause more volatility whether from fauci or powell i think the market is still a little skittish. that is why we're seeing volatility stay elevated around no-go back to single digits in prior uptrends. charles: we're out of time. one sector you're looking at is the biotechs. this might be the best time. hopefully when you come on next time come on with greater detail. andrew, always appreciate it. >> thank you. charles: we're seeing a rebound in certain stocks. we kind of talked about that. there are certain sectors standing out in the crowd. even when all the indices are up you want to pinpoint them.
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we want to tell you how you make take advantage of those names. we'll share them with you right after the break. ♪.
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leadership. ford has been at the top, lots of semiconductor, oil cavities bouncing back. homebuilders and casino stocks were looking good until 1:50 p.m. the market is going to look past the covid-19 variant. that's what the message has been after the big news. where are the opportunities. i'm gonna bring you michelle snyder and can force. let's start with today's session. i like the results i'm seeing right now. even though were way off the highs. >> again we had a divided market. you can see the small caps are floundering in the transportation is floundering. those are the areas that tell you we can go to a stagnated economy. the other hand we are seeing energy prices and electric cars doing well. some of the tech stocks doing well. a lot has to do the low interest rates.
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right now it's going to be a contest of whether or not we can find support particular in the small caps around 215 and hold up and will have more opportunity or whether or not that's going to break and drag down some of the leaders. eventually that's what happened. it's really tough here. i would be very patient. liz: we have this discussion you and i in the past with the markets when they had the bumps in the road. what do you think about the current rally? >> i am thinking not everything is up-to-date. but a lot was and that does make investors feel really, really good. it didn't seem to dip into the red even though we heard the news that covid, new strain is in the u.s. i think that's really good. i think people should always be ready to buy the stock that
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they've had their eye on if it reaches the right price or take a little off the table on the days whenever it's going up, up. charles: one stock that's going up and up is apple it's an absolute beast were hearing reports of iphones lighting off the shelf. as is apple, does it reflect indiana consumer. i'm not sure if this consumer is passed out. they have been digging into this data. some data suggest there fostering trillions of dollars. >> i think people are buying indirectly. in one of my favorite sectors is the telecoms or helping them. there is a telecom war out there. a surprising war and other companies like at&t and verizon and t-mobile are playing this. they are giving away iphones. they don't give anything away. it just pays for it over time. i think a lot of those are using
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the price wars to upgrade their apple products or more interesting idea, android users are shifting over into the iphone universe. charles: if that is the case, that could be huge. apple looking phenomenal. he brought up the electric vehicles. that is another one doing very well. some of these chinese names have been on fire. that's why ford was leading today. would you be a buyer? are you buying any of them? >> were still in the mountain pass. every battery needs a rare-earth metal walls. that's how we've been playing it. we are close to getting a new bicycle and tesla. that's very interesting. i have my eyes on some of those like neo. i haven't got the signal yet but if it consolidates further and starts to move up that could be a low risk trade. charles: thank you both very much. i wish we had more time.
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that was very helpful and that's with the audience needs and wants. we were up a lot more than this earlier in the day. we started drifting and we got the bombshell news. there's a good chance that we probably could slide lower into the last hour of trading. it could be more critical than ever. liz market has been volatile when you need the help most. liz: absolutely. that's why were here. we kick off the final hour of trade with the breaking news. investors have turned pale on the omicron variant case is now on u.s. shores. doctor anthony fauci making the announcement at the white house moments ago. on the first trading day of december the dow has been up 520 points at the high right now. it's up 18 toggling back and forth in the red. even the detection here of the highly contagious

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