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tv   Making Money With Charles Payne  FOX Business  January 27, 2023 2:00pm-3:00pm EST

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jackie: one time i passed out on the summoned boy -- on the subway. when people are kind to each other, we need more of that. thanks for joining us for "the big money show". we did it, our first week. it is friday. i think my badge will work on monday may be. brian: i bet it will. jackie: remember, bigmoneyshow@foxbusiness.com and a big shout out at "the big money show"@"the big money show". our twitter followers, a lot of good feedback. i'm into it. charles: you just ran me thank you all my emotions. ikea anger and friday joy and delta was so beautiful brought a tear to my eye. have a great weekend. good afternoon, folks i'm charles payne. this is "making money."
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breaking right now, talking about a fantastic week. its been amazing. we dealt with corporate earnings , economic data, wild gyrations and really tested the 2023 rally and so far passing with flying colors so there are two questions. will the fed wreck this party and will the naysayers stay on the sidelines? both probably will have to put away their ego. i'll ask doug ramsey, victoria fernandez is back and later i'll ask nancy tengler how some companies can report ugly earnings and the stocks go through the roof. what is this secret there? meanwhile, president biden ratchets up the war on business. guess whose going to be the biggest victim so if he can pull off everything he likes. steve moore here to break that down for you at 2:30 and the retail investor revolution is at the sec's door right now. i'll be talking to the organizer , the event you're looking at on the screen plus my takeaway on an elected leader that lost $300,000 on a single options trade. it's a luxury most americans
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don't have, so how can our elected leaders have the time to do that. all that and so much more on " making money." all right, so we know coming into the week, here was the narrative from the bears and the naysayers because they were really angry. the first they wanted that this 2023 start will be put to legitimate test. fair enough. we had a whole lot more earnings , right? and an avalanche of economic data of which many investors had to dig deep because what we saw on the surface wasn't the true message and the headlines were very misleading. in fact, take the gdp report, right? it was reported across the financial and mainstream media as a strong report, which gives some political capital to the white house, but the real-world, we're talking about a trillion dollars less in spending power. we saw the numbers, and real numbers 1% from a year earlier. in fact its gone down quarter after quarter.
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now here is the question. how does the federal reserve see the data? remember, they're not only looking at the hard numbers but also, the reaction to the data. on that score, they cannot really be happy that the market is rallying because that's one of the things they didn't want, but here is the rub. the stock market's on a rally in large part because they think maybe the fed is going to see the light and slowdown. maybe pause, and maybe take a break on their effort to annihilate the economy, so, it's a conundrum without a doubt, so there's no denying the market has momentum, improving breadth, we see that, it looks absolutely phenomenonal. remember the line moving higher leads to stock market higher. so i would now say that the pendulum has swung back and it hangs over that cautious camp over that bear camp. a big move so far and the overall market. this is moves in individual stocks, so, here is the thing by the way. a lot of these stocks these
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folks own anyway somewhere down the road. soon the panic of 2022 could become the panic of 2023 the buying panic of 2023. i want to bring in doug ramsey and doug, you know, its already been a good year for the stock market particularly after 2022 and traders have done extraordinarily well. investors, i don't know if they made their move. is this one of the markets that morphs where you could trade a lot of the names off the bottom to where you want to be a buy and hold? >> you know, our signals look out or at least the signals that have triggered look out more like three-to-six months and it looks to me like you can probably push higher into the may-june timeframe, and you mentioned the breadth numbers. we got a very powerful stampede in breadth over 10 days starting the last couple days in the year , and we got a very
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strong push higher and it be very unusual for the market not to follow through until about mid-year. after that, some of the power of that signal wears off but there are other technical things that have improved a lot too and i think it boils down to what investors are anticipating, which i think is a fed pause after the next 25 basis point hike next week. charles: and that brings us to the conundrum of sorts, right? because a market that's rallying too far too fast will upset jay powell. we saw that on the eve of the jackson hole speech. the market had a little bit of a run-up into maybe a benign powell. he was anything, but. he came at it really hard and said there be a whole lot of pain. meanwhile, we do see where households are sort of moving to a more cautious posture, so the american public is sort of hunkering down for things to get slower. the fed has got to see this , right? they got to see the numbers. what's going to win out? the data the fed promised they would use as a guide, or the notion that jay powell has
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promised to be volcker 2.0? >> you know, in truth at this point, i don't know. i mean, since that speech you eluded to, the inflation numbers have gotten a lot better and i've got to say it's mysterious the way the growth numbers are holding up with quite frankly, a lot of very good recession indicators triggering like beginning in the third quarter last year. clearly, this is a different cycle and i think some of it has to do just with that really sugar-induced, i don't know if i'd call it artificial but clearly there was a boom in 202t saw asset prices spike. i think those asset prices fed into the inflation, a different type of inflationary spiral than we had seen before, and now, of course we're anniversarying so to speak against those very difficult numbers from 2021 so i think it's natural that we would see some coming off from those
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but clearly, we're not in a recession right now, so i think things are going pretty well right now for the soft landing camp. charles: so, doug, with that in mind i've got less than a minute to go but i'd be interested in the sort of soft landing scenario. what sectors are the best to hold on to for now? >> you know, i think some of last year's leadership which has not done real well year-to-date is going to continue to do well and by that, i mean energy. we like a lot of the industrial groups. we've been in construction and farm machinery. they've done extremely well. tech obviously has been leading this bounce, but it be pretty rare. remember, tech led during a 12- year cyclical bull market. it be pretty unusual for tech to be the big leader in the next bull market. i mean, anything could happen, but i still don't really view those as great values compared to some of the more value-
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oriented sectors like again, energy, industrials and some of the financials we're invested in right now. charles: yeah, financials really to me seem to be the big winner in this earnings season. doug, thank you very much, appreciate it. >> thanks so much. charles: folks let's bring in cross mark global investment chief strategist victoria fernandez. all right, victoria. so i read your note and it looks like and doug just talked about this , you're warming up to the notion of a soft landing? what are the odds. >> well, car el, i'm going to say we're probably around 30-35% odds on a soft landing. our base case is still that we have a mild recession and here is why. i get the argument for the soft landing. we had a solid gdp report. you have a consumer that yes, demand is coming down a little bit but they are still strength with the consumer so i can see the idea of a soft landing but these are still the same concepts that the fed is looking at and saying well wait a minute if this is still going on, we
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have to continue to raise rates. financial conditions are easing right now, so i think the same things that support a soft landing are going to push us into a recession, but because the consumer is strong, it'll be a mild one. charles: but push us into a recession or have the federal reserve push us into a recession >> [laughter] yeah, well that's the key, right i mean, look. powell has told us he is willing to take a recession if it means getting inflation under control, and that there was this analogy i heard the other day. if there's a fire, the markets willing to put one bucket of water on it to calm it down. the fed is like no not enough, we need five, 10 buckets of water so the fed is going to err on the side of higher rates pushing us further and that will lead us into a recession and we have to take them at their word they are willing to do that. charles: what do you make of this earnings season? it's actually, i think, a little worse than advertised. it was advertised to be a disaster and yet the markets holding up. >> yeah, look.
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when it cops to earnings, we know that it's the guidance that really drives what we're going to get in the marketplace. here is a broad divergence going on right now. you've got the general macro uncertainty everyone is giving in their guidance but let's look , charles, at the underlying stuff we're hearing. credit cards obviously really strong, american express highest quarterly spending on record. you look at things like input costs coming down. danaher way saying their input costs come down that helps margins going forward and the demand is still there. i heard the csx ceo talking about demand for railcars went up in december and is up again in january so i think this is what the fed has to try to figure out. the general macro uncertainty story versus the idiosyncratic items that say the economy is still pretty good. charles: i love when you use those kind of words don't know what it means but i love it. so you've been more or less in the safe haven kind of names
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right? you have not been one to say get out of this market but your exposure is more on the safe haven side. given what you're saying though would you be willing at some point to broaden that out to more growthy areas? >> so you're right. we had some exposure to the safe havens but also had exposure to some cyclical and to some growth names. here is the thing. our play book right now is not to take big bets because there's still uncertainty. you've got to be opportunistic and so look, you have a name like discover financial services up 20% over the last month. trend that name. take some profits. look at some of the other names that you think will do better. a csx, general mills. i think you need to be opportunistic here. don't make big bets. have some exposure to staples, exposure to cyclicals and play that story out a little bit more as we go through the middle of the year. charles: thank you so much always appreciate how you give us the same guidance victoria. have a great weekend thanks. >> you too. charles: folks i want to bring in wood shaw financial group
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principle d. r. barton. and the market has shown a lot of moxy this week. you've had to climb off wednesday and that session i want to get your thoughts on this because it felt like or looked like a bullish reversal, as a technician, does it qualify >> i think it very much does from this perspective, charles. when we got banged down so hard in the morning you'll remember tuesday afternoon, microsoft reported. everybody was happy. microsoft was exploding. the nasdaq was exploding. then everybody woke up and said well, microsoft guided a little bit, a lot softer than everybody wanted to hear and the nasdaq was down about 1.9% pre-market. i wrote then that hey, if we get anywhere close to unchanged on the nasdaq today, that's going to be very bullish and i think moxy is just another way for us to think about i love your word there. it's another way for us to think about when the sentiment of
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everyone is leaning one way and saying here we go again, and the money comes in and pushes us the other way. that is quite a bullish turn around. charles: so at the top of the show had doug ramsey and we're talking about the bullish thrust. where the internals look phenomenonal. we saw last year, we saw that last year. we saw a lot of times in the rally got right up to trend lines, right up to key moving averages and failed, and so i'm wondering, because right now, we're on the cusp, a lot of these indices are on the cusp of breaking the trend line or key moving average. what does your checklist look like right now before we get the all clear and it looks like you must be in this market? >> yeah, i think that you are getting to a really key point charles. when do we take our exposure up, of our whole portfolio chunk, if it's not already in there, and you're not just big investor for the long term and never take your money out. when are you going to put the
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rest of that to work and i think we've got the russel which is outperforming again like it does almost every december and january, small caps are out performing. it's just pushed above a very key nine-month resistance level. the s&p is right up against its fall checklist. it's hitting up against the resistance level that its hit several times. we're about two or three points below right before i came on. if we can pop through that and have the nasdaq, the qqq's stay above its 200-day moving average , i've got to get more invested, charles. there's just no way around it. charles: what would you be buying? >> you know, i think that this market is going to be as tricky as we saw the second half of last year, which was ugly for a lot of it but there were some big rallies. i think that what's going to happen is that if you're not going to be watching and trading like you and i sometimes do, if you're going to put some money
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in and just watch it for six months, 12 months, you've got to really look to be diversified. you've got to buy, find a couple of things you really like and then find those stocks that are going to be uncorrelated or very low correlation to that. so if you do like a tech rally to continue, then you've got to find something that's on the other side of that. maybe some defense stocks like general dynamics that's going to sell a lot of those m-1 abrams this year it looks like and they just had a nice 10% pullback so you'd look at that kind of diversification to put more money to work. i think that'll help you fight the volatility. charles: all right, d. r. good stuff appreciate it my man. have a great weekend see you soon. all right, folks. coming up, last time this guest was on, he gaves a stock called farfetched. it's up about 45% so the pressures are on. rob luna is back and he's got new picks he says that are going to be big winners he joins me at
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2:50 but first a strong january suggests it could be an amazing year for the rest of the year. wait until you hear what ryan dietrich has to tell us about what history says, you'll want to hear this , next. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones after advil. let's dive in. but, what about your back? it's fine. before advil.
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charles:, so climbing off the canvass. it's the stuff a great boxes matches, movies, but when you have skin in the game, it's an even greater achievement so with just a few days to go this month, the stock market trying to pull off a rocky balbo a, and just like that movie it's sparking major enthusiasm, so queue the music folks and let's introduce chief market strategist ryan dietrich. ryan, you know last time we spoke you said this was possible , right? so let's talk about this. the viewers first, the combination of a down year like last year, and then a january rebound that's more than 5%. what does it typically mean for the rest of the year? >> charles, we're going to be smiling if this plays out you're right but there's only been five times in history where we had a negative year and then a big bounce of 5% or more on the s&p we're up 6% as of the time you and i are talking a couple days ago. the full year was higher every single time of almost 30% on
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average. charles i'm not saying we'll be up 30% but i've been coming on with you for several months to say the bear market ended in october. we're going higher. this is another bullet point that says listen, path of least resistance is up which is a good thing. charles: you've been saying it and taking a lot of criticism for it as well. you never waiver because you do history, and this is one thing i love about you, ryan. another thing you pointed out is that the sort of bullish trifecta. tell us about that. >> yeah. keep it real simple. so we know about the santa claus rally the last five days of the year, first two days of the next year, we were up during santa claus this year. the first five days of this year , we were up. probably going to be up in january. i'm calling that a bullish trifecta. all three of those things happen it's rare. only nine times, this will be the tenth probably. the full year up 27% on average this time higher every single time. these are all just little bullet points. when you start putting them together similar to some of your other guests that are bulls it
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looks good like we'll keep going higher. charles: and one more thing maybe in our favor an that's the pre-election year. the history of pre-election years. >> you're right. up about 17% on average in a pre -election year. here is what really matters. mid-term years we talked about this with you. they tend to see a big pullback with a 25% bear market yes but one year off the mid-term year lows since world war ii, this is crazy. the s&p is up 32% on average, all right? october 12 was the low. we're going to be up 32% this next october 12, i don't know. history would say we are. if we do we be 1% from an all-time high. charles: so you tweet a lot and i like to cover your tweets and all your work, but you tweet a lot about putting facts over feelings, and this is something that you try to drive home. what is it that you're trying to express to folks out there? >> exactly. i've got a podcast we call " facts vs. feelings" because listen we all feel certain ways and sometimes your feelings matter. we aren't saying ignore your feelings but using facts the
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stuff i hopefully laid out and with you for a long time. look at the numbers. look at the data. that'll help us form our investment decisions not so much our feelings because our brains are wonderful things but sometimes they make us do the worst possible thing when it comes to investments like october 12 of last year. everybody wanted to sell but there were a lot of reasons to think it's going to get better. charles: before i let you go and i have less than a minute to go, under these circumstances stocks and sectors that are standing out for you right now. >> yeah, we still like the cyclical value names, we still like small caps, for a while small caps didn't violate their lows in october. from the june lows last year, there's relative strength going on there so we would stick with those areas that led since october. we still like them. charles: my man, you've been right for a long time, ryan. i appreciate it thanks a lot and i always learn something from you. >> thank you. appreciate it. charles: folks coming up, what if i told you the biggest winner in the market today missed on revenue, missed on earnings, got a couple downgrade s. how does that happen? you must know, i know you want to know because i want to know.
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nancy tengler is here at 2:35 to help us understand but first, president biden attacking chevron $75 billion buyback and dividend plan, but could the war over corporate profits wreck this economy? i'll ask economist steve moore, right after this. ♪ young lady who was, you know, mid 30s, couple of kids, recently went through a divorce. she had a lot of questions when she came in. i watched my mother go through being a single mom. at the end of the day, my mom raised three children, including myself. and so once the client knew that she was heard. we were able to help her move forward. your client won't care how much you know until they know how much you care.
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charles: so, lots of economic data out this week and it really , the conclusions got to be that consumers are just about tapped out, but being americans, we're not maxed out. credit cards, really, they're not, we're starting to go up but a lot of room for folks to keep that lifestyle going particularly the sort of lifestyle that many got accustomed to when those stimulus checks started to flow. i want to bring in freedom works senior economic contributor steve moore and so retail sales
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missed by a mile. consumption in the fourth quarter was far less than wall street thought. we saw this morning was spending decline more than expected yet we had visa, mastercard and american express singing the praises of how resilient consumer spending is so what's going on here? >> [laughter] well it is resilient, because americans are going more and more into debt, charles, as you are just saying so credit card debt in 2022 rose by about 15% and the problem is exactly what you just mentioned. what happens when the government s checks stop flowing in? how are americans going to pay off that credit card debt? can they continue to keep pace with that spending that happened in 2022? i have some doubts but government loves to just spend money and send people free money so it could last for several months but look if you look at the 10-year forecast for economic growth going
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forward, charles, 1.5 or 1.6% growth. we're in a kind of new era of secular stagnation which is basically just slow and stagnant growth when we could be doing so much better. charles: yeah, you know, and last year, i gave about 15 speeches and the theme was the hangover and we're entering it right now and one other thing though one talks about, steve. interest rates just on the average hit an all-time high of 19%. store cards at 29%. i think people are going to be shocked when these cards, when they start to adjust not only are they going to hold record levels of debt but the interest rates are going to be to the point where i don't know how people are able to pay it off. >> yeah, there's no question about it. the worst way to incur debt rather than going guido the loan shark becau se the credit card debt you're right. sometimes that credit card debt can be charged interest rates of over 25%, charles so you are
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really under water when you go way into debt and i already say the january and february months are brutal when you have to payback all that credit card debt from the christmas spending season. charles: yup and it felt great walking out of the store with all those bags especially when they just gave you a store card. it does, right? let me ask you about what's happening this week and really started earlier a couple weeks ago. these lay off announcements are getting tougher and tougher and bigger every single day. in fact we know the top discussion about labor shortages , we don't hear that any more chondroitin conference calls. it's all about job cuts. how much worse do you think it's going to get? >> well most of those job cuts you're talking about, not all of them but most of them have been in big tech with google and amazon and cisco and those companies that have announced almost 100,000 person layoffs but i still believe that it's a fairly strong job market out there. i mean, you still have about 8 million job openings right now and you still have employers
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that i talked to, i'm in florida right now and i've got to tell you that the people here are talking about how good business is. i mean, florida is not the rest of the country, right? it's a special place, but i do think that the economy does show a lot of signs of slowing down. i'm not seeing recession but we're in that kind of slow growth, and i did want to make one other quick point charles you brought up the chevron profits a few minutes ago, and you know, the reason, the outperforming stocks over the last year, conoco phillips, exxon, chevron, the oil companies, and that's because what biden has done with his energy policies is should down all the competition of the big guys because he's not allowing new drilling, and so those companies have done great. not only the worst performing stocks in 2022 were the green energy stocks. charles: they were disasters, absolute disasters and they pour like a trillion dollars into esg
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i've got less than a minute to go. i want to pick-up quick on that chevron thing because right now on your twitter feed warned about president biden's war on business, and i don't think people realize when president biden wants to launch a war on business he's launching a war on the entire economy isn't he? >> yeah, and by the way, shareholders and stockholders who especially watch your show about making money. if you think profits are a bad thing you know what's even worse than profits? losses. charles: [laughter] good line. i'm going to steal that one. steve we've got to let you go. have a great weekend my friend. >> you too charles. charles: coming up retail investors really, they haven't given up, right, against all odd s and they are fighting back. right now one organization in washington d.c., we're going to join them at 2:45 but first, okay, i gave you a scenario, american express missed on the top line, missed on the bottom line. got a couple downgrades. the stock was down and now it's
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a juggernaut. how do they do that? were they able to sweet talk the analysts? we'll ask nancy tengler because we want to be in a stock like that, next. good luck. td ameritrade, this is anna. hi anna, this position is all over the place, help! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting? how'd you know that? the company profile tool, in thinkorswim®. yes, i love you!! please ignore that. td ameritrade. award-winning customer service that has your back.
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you'll always remember buying your first car. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. charles: all right, so have you ever been in a stock? i know you have been, if you're on in the market for more than five days so they report earnings, the numbers are phenomenonal. they beat on revenues, they beat on earnings. the guidance is pretty good. what happens? the stock gets clobbered. listen i had a couple of those this week, although a few did the exact opposite and i always wondered why that happens so joining me now, laugher tengler ceo and chief investment officer nancy tengler, so american express big miss on revenue, big miss on earnings.
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the stock initially took a big hit, downgraded, i know steve downgraded it. right at this very moment it's the number one percentage gainer in the entire s&p. is it just how the ceo sweet talks the analyst on the call? >> [laughter] oh, i wish it were that easy. i think, charles, it's all about the guidance in this case. management raised the earnings guidance to a range of 11-$11.40 a share which is factset which is at $10.50. they also, though they missed in the fourth quarter on revenues and earnings, they beat for the full year, and then they gave optimistic guidance about new card members, they added 3 million in the quarter, 12.5 million for the year, but it was driven by not you and me, not the old fogey crowd. the millennials and gen z and big spenders. add to that they announced a dividend increase of 15% and i think that's what cheered the stock after the initial reaction. charles: yeah, you know,
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sometimes it just, this is an amazing business, isn't it? i had stocks this week that i felt like we took profits before they reported because i was a little nervous. they reported a loss and the stocks only went higher and sometimes vice versa. let's talk about the names you've shared with us because a lot of yours reported as well. microsoft another one of the names initially popped and then came down, and i'm not sure where it is now but ironic it came down because instead of making 52 billion for the quarter they said they only do 51 billion in revenue. are you still holding? >> yeah, we are. it actually on that day, it actually ended only down a fraction, so that swing was remarkable and then if you look at it since then it's up about 3 %. i think the secret to microsoft is that they're in every space so if you're looking for a job, you're using linkedin, if you have a job you're using teams and if you don't you're using game pass, so they have a broad ecosystem and they are working to expand that and engagement on their platforms has gone up
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materially. add to that the cloud slowed but it was up 22% for the quarter in a constant currency basis up 29% so if you look at this multiple, compared to a multiple like for proctor and gamble, i'm going to take microsoft all day long and i think satia nadella gave cautious guidance on the heels of laying off about 10,000 people, i'm pretty convinced they will beat that going forward. charles: folks, constant currency, if the dollar wasn't so strong the number would have been 29% and since the dollar came down since then that'd as to nancy's point. tesla has been a beast. what do you think about it here? >> i think i got really lucky on that. charles: i'd rather be lucky than good. [laughter] >> i think the report was pretty good. i mean, they are seeing demand, the orders in january were their highest level ever for a month- to-date period. padding prices can have an advantage. it does drive demand and the margins came down but
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there's still four or five times better than ford, so i think you've got a company that a management who continues to be underestimated. that's a good thing if you're a shareholder. i would not chase it. i'd let it settle down. if he finds a ceo for twitter though i think we're off to the races again. charles: all right, so services now i think they had a so-so number. you still like it, looked like you pinned a love letter to it but i've only got a minute to go and one other one i wanted to ask you about, steel dynamics. full disclosure. i had subscribers in this one. we sent out alert before they opened to take profits, opened up a buckets down two bucks but you're still holding it though, right? >> we are, that as a beast of an earnings report and they raised the dividend last year 31 %. we don't think we'll see that again but backlogs thanks to auto are really strong, carry them through most of this year. on service now it's actually up 4% since the announcement. they are being very deliberate.
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it's probably one of the best ceo's in the country and they are growing their greater than 1 million clients. they added 126 of those during the quarter. they now have 1,637, so we like this , and the expanded margins, charles, in this environment, not just operating margins but free cash flow margins, so this is one i think you just keep adding to when you get the opportunity and you hold on because they are expanding their ecosystem with a secular tailwind at their backs. charles: great stuff. nancy thank you very very much. moreso than normal because that was educational as well. thanks a lot nancy. >> thank you. charles: folks, i've got rob luna coming up and let me tell you he's riding a hot hand right now. it wasn't just farfetched up 45% but he had a bunch of winners he's given us in the last month or so. let's find out what he likes now but first if you feel like the market is rigged you are certainly not alone. people have been protesting online, on social media, how about in real life?
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charles: all right, well, they are as mad as hell and not going
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to take it anymore, of course i'm talking about retail investors who continue to fight against all the odds, against the billions of dollars of power and influence of hedge funds. their goal is simply to make the system fair. occupy sec 2023 has a bunch of those folks who gathered from all over the country in washington d.c. today and tomorrow and joining us live from the protest, occupy sec 2023 the organizer mike minor. mike, listen. i know you don't represent all the apes and individual investors. you're just a marine trying to do the right thing and i applaud you for it. tell us what the main issues are >> well, charles, there's a lot of things happening in this market. we've been here, i've been here for a couple years. we just see what these hedge funds and banks and institutions are doing to us. it's not a fair market. it hasn't been a fair market for any of us retail investors. frankly we're just fed up and tired of it and want to see change happen, so that was part of me getting together and gathering up and start talking
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about five or six months ago and we need to get out here and we need to get boots on the ground and that's exactly what we're doing. we've got 75-80 people here charles. charles: i love the idea of boots on the ground. here is the thing you talk about the hedge funds. so yesterday south korean posed a $10 million fine on citadel saying they disrupted their market with high frequency algorithms. citadel made 16 billion last year and i just wonder do you leave the securities and exchange commission will ever do more than maybe levy an occasional fine when it comes to the folks and make excuses like they have been. >> well that's exactly what they are doing and our hope is we want, what i want to call lobby, we, all of us here want to lobby against congress and the sec because there is things they can do. there's things they have the access and power to do and that's why we're here because one of the things is we want to see congress put together a team of people that will investigate this. maybe put in some rules and regulations back into place that can stop this stuff you just talked about charles and it's only going to start with us demanding that.
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charles: boots on the ground are phenomenonal. it works a lot. call your congress-person. when you show up to someone's doorstep they pay attention. what are the other things you're trying to do in terms of organizationallize because i feel like when i look through social media as a hodgepodge here and there every now and then they start arguing with each other and i'm sitting back saying ken griffin is smoking a big cuban cigar laughing at everyone because you're not organized enough. >> you're exactly right. one of the things put into the community since i've been around, i've been in the community with you i saw you from the beginning i want to say first off thank you for supporting us but the biggest thing was the unity. they weren't put together like we weren't united and there was a lot of separation we were told we couldn't unite together and i think that's the biggest thing the hedge funds the banks the politicians is done has kept us divided. one of the biggest reasons i wanted to -- charles: i'm sorry. >> one of the biggest reasons, yeah, can you hear me? charles: yup. >> okay one of the biggest
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reasons i wanted to do occupy sec 2023 was to bring people together, from all different communities of different stocks out there and let them know we can unite. that's the whole purpose of this charles: keep it going get a little bit more organized. stop all of the in-fighting, write some letters and keep doing this. they will hear your voice sooner or later, thank you, mike. good luck with that. >> yes, sir, thank you so much, charles and thank you for taking the time out of your day. charles: you've got it. let me bring in now our capital ceo rob luna. rob you work with individual investors all the time and i'm sure the first thing they tell you is that the system is rigged and they have seen it firsthand or heard about it. what do you tell folks like those at this rally? they are in the market and may not own a lot of stocks in part because they don't trust the system. >> you know a couple things. first off, good for you because you're the only one that's really giving a platform to the average investor to allow them to talk about the crap they've been dealing with as little investors for a long time because no one is looking out for them but you know at the end
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of the day what i tell them charles is do what you're doing out there right now, write those letters and do those things but get over this idea that wall street is rigged and you can't make any money, because that's just simply not true. you have to have discipline. you have to educate yourself. you have to have a game plan, but if you go into thinking you're going to lose more than likely you'll lose and as you and i know you can definitely make money in this market so i don't want now investors getting scared away by stuff like this. charles: i tell people i think the system is rigged to a degree and it's unlevel playing field but also the greatest money making machine in history so if these folks can get things fixed , great. but don't miss out on it and to that point i want to give you props because you've been killing it. so you came on the show late last year. came on the show earlier this year. i know farfetched, you're up 45% on it. my question to you, are you going to hold that or let it ride and take profits? >> yeah, well i'm glad because folks on twitter remember the buys, so i want to talk to them about that. i don't buy and hold growth
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stocks forever so we enter that position in december. i am still long on my shares about 480. i had a double though charles i'll take half on the table and let it ride. i think that stocks going to 15 or 16 so you heard it from me. same thing with coinbase we got in about 60%, people look on that one both stocks up in the teens today. charles: yeah, i think you're up as much as 87% on coinbase. airbnb you told it? >> yeah that ones a little bit longer term play, charles. i'm holding on to that longer term. charles: did you make any new trades this week? >> yeah, this week i bought amazon actually that stock is going to 120-125 obviously a lot more conservative trade than some of the names i'm talking about. i also added in some positions i pick pick-up in fiber and also upward, both are outsourced, the new gig economy, those are stocks that have a lot further to run. charles: before i let you go real quick, rob, next week you think jay powell will pull the plug on this , think maybe he might feel that it's getting
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a little overheated? >> yeah, i mean look. i think they chop this market down. it's still pricing in two more rate hikes but there's layoffs coming everyday. we've definitely hit peak inflation. that narrative will change sometime later this year but isn't it good to see a different psychology after a year where you could start buying dips and making money. charles: it's a wonderful thing and i love the fact that still most of the experts are still bearish or cautious. i don't know strangely, it's strangely kind of actually makes me excited. rob thanks a lot congratulations , my man. all right folks coming up my takeaway on getting super-duper wealthy as a public servant. ♪
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now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. charles: all right, folks. take a look at that statement. see what you're looking at? that's a filing showing former speaker of the house nancy pelosi taking a bath on roblox options. it's not the only major financial hit by the way that she's taking. the numbers in fact are absolutely staggering. they add up to millions of dollars in losses and it really makes me sick seeing elected officials who get rich in public office and it makes me angry knowing just how much time it
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takes to actively trade like that. you just don't willy-nilly buy $300,000 of roblox calls do you? listen, you can not get much done for citizens if you're sitting at your desk and treating it like a slot machine, all day long watching the market here is the interesting thing though. nancy pelosi used to have a remarkable track record. in fact, mind boggling track record, so is this just bad luck you know, there is a camp that thinks it's by design, to sort of derail efforts to prohibit active trading among elected officials. now if representative pelosi and others say that they have no advantage because look at all of the losses i took recently. we don't need a ban. that might be a counter argument and i think people who think that, the conspiracy theorists if you will who say that could be what's happening i think they have a point. still though, the ban, i say, has to happen. what's been going on there is completely unfair and it is crazy. too many folks go to d.c. and come back millionaires and if they do it trading calls,
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$300,000 worth of calls that expire are worthless. who can do that? who could afford to do that? someone that made a lot of money in the market on the other side of those trades. meanwhile you have a good chance next week to make a lot of money because next week is going to be fire. we have apple reporting. we've got meta reporting, we've got amazon reporting. we've got google reporting. these stocks have been on fire and they are going to be poised either make the next big leg higher or get hit. i know, liz, i know, i sound like i'm coming out but it's big moves up or down. liz: wait you forgot the fed. big meeting wednesday. charles: oh, my goodness. liz: you and me, that's our two hours. this is a crucial, crucial wednesday coming up and we'll see if there's that kind of movement or if people just kind of hang out on the sidelines we shall see. happy friday, charles. charles: thanks a lot. liz: fox market alert can we punch up bed

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