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tv   Making Money With Charles Payne  FOX Business  October 18, 2021 2:00pm-3:00pm EDT

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s this innovative, aren't just made for traders - they're made by them. thinkorswim trading. from td ameritrade. neil: well the dow might be struggling a bit. 9 other averageses are not. bitcoin doing find ahead of an etf tomorrow. big news there. charles payne there. charles: neil, thank you very much. hope you had a good weekend. good afternoon, everyone, i'm charles payne and this is making money. we're looking at a strong year-end rally. the stocks do stumble, wall street already blaming the retail investor. buy the dip or find a foxhole. you know my thoughts. we have a big line up. amc cares h shares have been moving much higher.
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diamond hands are shaking ellemm pom-poms. superman, has been the truth, justice and the american way. dc comics think this no longer applies. when hope is kryptonite and this no longer applies. all that and more on "making money." the market is off to a guarded start for the week. the pieces are in place for serious excitement. we're looking at 72 s&p components. they will report their numbers. investors will be focused on netflix and tesla when they post their results. remember last week was very impressive. we had a series of big swoons into the closing bell. the market finally turned that around midweek and came on strong. the wall street still torn where the market goes near term. some already blaming individual
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investors and keep buying the dips and that is too much. the irony wall street itself are looking for a bogeyman in case the market does pull back they certainly are screaming bullishness in terms of their own actions. here is the question, folks, do you listen to wall street or follow the actions of wall street because they're two different things almost all the time? bring in gary k., gary kaltbaum, nicole webb. gary, a lot of chatter about the individual investor buying the dip. wall street is looking for a 15% move in aggregate over the next 12 months. sell ratings have dropped to a pre-pandemic low of 6.9%. on one hand saying brace for the worst and on out the other are loading up for something better. >> i have certain mottoes and mantras of market. don't worry about where people tell you where things will be a year from now. most of them don't know what they are eating dinner tonight.
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there are some darn variables we're dealing with as we go into an election year, with the left wanting to put 3 trillion bucks out there. i'm a big believer getting all the information you need on the markets right now and all i know, and we told you last week, charles the market looks like it hit a low. i told you about tesla last week, it looked like it was emerging and now we're broading out. i can tell you today retail which kind of has been dead is kicking. i'm seeing target breaking above resistance, macy's busting out, tractor supply moving back up. that's good news, and housing another comatose area that one looks like it is revving up and of course breath areas -- growth areas, wow, it is continuing. i'm sure we have seasonal strength on here. all i can tell you, big money, the institutions are in there buying right now. that is all i'm interested in. charles: i will get to you also on the intriguingness of this
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growth move. nicole, first of all, do you know what you're having for dinner tonight? >> i actually do. >> good one. charles: wall street is beware the individual investor shouldn't buy the dip. i know morgan stanley, the guy mike wilson says we'll go down 20% but their behavior is even more bullish than individual investors. >> absolutely. i love everything gary said. i have no idea if my face was on the screen but i was smiling the entire time. what gary really said there are a lot of areas for the market primed for a great q4. i think sustainability is showing us that it is there. earnings are coming from places that were not strongholds in 2020. so we're seeing a cycling through which is indicative of a more broad rally and the broadening of this again is showcasing that you know, the market has room for us through the end of the year. there was a lot of people left behind as asset prices inflated early in 2020. and i think we're seeing more of
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that then able to participate now in late 2021. so all very positive things going into the end of the year. charles: gary, let's talk abouth stocks, the reason why i like them so much is because if they keep growing better than the market, some of these names that we talk about all the time growing 50, 100%, they usually cut through all the headwinds eventually if that growth continues. now of course there will be blowups going forward as we head into earnings season. somebody misses numbers or big
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slowdown or competition, i see it in droves. makes me good you're seeing rates up today, not only growth stocks on the move today, but they're really going today. when i see a microsoft breaking out to all-time highs right now while the dow is down 50, i'm a happy camper and some of the things that v been really down and doing nothing, google is up 50 day. facebook which has been trashed recently. looks like it turned a corner. so far so good. we'll keep things crossed through earnings season. it continues. charles: the way, nicole, the way stocks reacted to earnings this week, even ahead of numbers this week, a lot of those names gary mentioned from tessa, tractor supply, they're all reporting, the one big worry is supply chains. we're known the mainstream story right now, seen photos of empty shelves at stores, flotilla of ships outside of our country, have you made adjustments in the portfolio based on that? >> a little bit. we've been prying them in along the way. the labor market and supply
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chain issues are not new. specifically this week the themes we're looking at are groups that provide services as goods have taken the lead. we've seen consumers delayed in some of those travel and lee sure. it might not be the individual consumer but business expenditure in that direction. we want to see strength in service and resilience there so we're focused on the airlines, american, alaska, united all reporting this week and certainly we're continuing to watch real estate and financials as they are such a large portion of seeing i momentum right now. charles: gary, nicole, thank you very much. i have no idea what i'm having for dinner tonight, i really don't. i would like to bring in market analyst, andrew thrasher, a technician, one of the best technicians out there. andrew, i was impressed with two things last week. the s&p 500 stopped the ugly side, tumbling into the close and rebounding above the 50-day
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and market breadth got better, and you sense the trepidation but will it start easing a little bit? >> i agree you were looking for i wanted to see, breadth improve and growth levels respected by buyers, the 50-day moving average one focal points. i wrote over the weekend, no matter what breadth data you looked at it was encouraging. 200 day highs. average draw down was getting concerning and we want to see that back in single digits. we got that back in last week. 10% average draw down for s&p fox. we're starting to see the internal data start to improve. does that mean it will be persistent the rest of this month? i hope so. doesn't guarranty but right now the data is looking better. >> to that point the market seems to be on track for the sort of seasonal turn. again this is not something that
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happens all the time but we do see the seasonality, september swoons a little bit, a bumpy road in october, then we're off to the races. we're sticking to the script. what do you think about that. >> that is exactly right. historically over the last 20 years, you see a rough short period of time between mid-september, through mid-october. and mid-october through year-end historically equities do well. november, december, up 70 to 80% of the time. one best novembers in history was last november 2020. we'll see if we get a repeat of that. equities traditionally have a tailwind of seasonal seasonality through the end of the year. charles: what is the most important if you had to share what the most important chart for eninvestors. >> over 80% of energy stocks are considered overbought looking at rsi over 70.
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we've only see that happen really two other times since 2014. both saw pullbacks in energy. another key market i'm watch something transportations. transportation is starting to look healthy. they were a laggard for a big part of the year. want to see if they start coming back. third major chart i'm watch something hospitality and tourism. looking at airlines. looking at some other key focal consumer stocks as covid numbers come down, we're still seeing consumer spending still ramping up especially with unemployment starting to improve. i want to watch airlines, i i wt to watch more consumer focused stocks to see if they start to improve. they have been laggards. want to see if investors focus on those. neil: you covered a lot of great things there the consumer i'm always looking at. i left etsy at 210. kicking myself ever since.
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my truckers, robinson, hunt up, i think you're right on the transpose as well. and andrew work. charles: "halloween kills" slays it at the box office. i will ask trey's trades, trey collins how high stocks will go. what is important about the movement? how do they keep it together with all the criticism. china is putting america on blast. the country reporting launching a hypersonic missile catching everyone off-guard. how worried should we be? we got to tell you next.
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for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. ♪. charles: america lost a trailblazing public servant giant this morning. 65th united states of secretary of state. 12 chairman of the joint chief of staff. 16th national security advisor, four-star army general, according to his family colin powell died of complications from covid-19. he was 84 years old. i want to bring in republican congressman mark green. congressman, you served, in the army from 1986 to 2006. i would love your thoughts on the passing of general powell? >> it was a real loss for the country, charles. this guy was a phenomenal leader
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of soldiers and people. i remember i was a young infantry lieutenant, the chairman of the joint chiefs came to inspect one of our new motor pools. our soldiers did a display. showing him at what time the infantry can do. he loved it of course. the leadership took him around for a lunch, china, nice meal, powell asked where are the troops that just did the display for me are eating? of course the brass said, well they're behind the motor pool eating field rations. colin powell said i will eat with them. he left the high brass, the leadership of that brace and that unit and went and ate with our soldiers. a great leader. a huge loss. charles: so many beautiful stories. he touched so many people in some way. >> he did. charles: i want to ask you what happened over this weekend in china. they tested a hypersonic missile. many are saying now this is really a major test of erasing any sort of nuclear advantage
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america had over them. we know they have already been emboldened. what is amazing to me we saw russia doing this for a few years, bragging about it. apparently we were caught off-guard. how could we have been caught off-guard and how serious is the threat? >> first it is very concerning obviously that they achieved hypersonics. that is something we have to take into consideration. we shocked the world when our capabilities are revealed in our assault in iraq. it woke the chinese up. it woke the russians up. i can assure you what you know about the american military there is a lot more under the surface. we have capability that we don't talk about. i think the chinese know that too. that is why they're advancing so quickly. but americans should understand that their military is the best in the world, the most capable and the most ready to fight. now is it concerning? yes. do we have to take this into
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consideration, absolutely. but we're not urn prepared. charles: i think it's a great argument for not cutting our defense budget. >> sure. biden wanted to do that this year. recall he would do a 4 billion real dollar cut. charles: it is nuts when they start talking about that kind of stuff. on the same line of thinking though, intel ceo, intel the company, pushing for fiscal help, talking about this national, this chip back where $50 billion would be used to help us shore our semiconductor manufacturing in this country and what really is interesting he is calling it a national security matter. i happen to agree with him. why is it being held up in the house? >> it shouldn't be held up. this needs to happen. you look at the chip shortage and what's very concerning about the ship shortage is 60 to 70% of chips are made in taiwan which is right in china's xi xinping's cross-hairs.
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so this is something that has to happen now. in fact it should have happened yesterday. this is how we take on the china of the future. these semiconductor chris are in military radios. they're in military phones. they're in military equipment. we have to have them and we need to make them inside of united states. charles: before i let you go, i have a less than a minute to go the white house intimated that they were leaked to press the deal was almost done. apparently senator manchin is again. he is drawing hard lines on child tax credits and payments to stop fossil fuels. where do you see this going now? >> i hope joe manchin keeps up the fight because it look, what the white house wants to do is in debt generations of americans what will really be a national security threat, our massive debt. so he is pushing back. some of these things that the senator is insisting on, working
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for government help, there is 1.5 jobs for everyone person on unemployment in america right now and insisting that people work for government assistance is a no-brainer and that's the kind of stuff that he is demanding t makes sense to me. charles: so to me. earned income tax credit, the operative word there is earned. that is what it was created for. congressman green, always appreciate our conversations. >> thank you, charles. charles: tomorrow is historic day for bitcoin, the thing that elites said would never happen. it's a bird, it's a plane, it is wokeness. the man of steel getting a makeover and it is anything but super. i will explain next.
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♪. charles: so i grew up in an era where comic superheroes were the perssonification of what we all strife to be. no character exemplified that more than superman. now the man of steel will be fighting for truth, justice and a better tomorrow which is a big change from truth, justice and the american way in many ways. nothing is safe in the media world in this woke avalanche. i want to bring in media reporter sara fisher. sara, you're bun of the best media reporters out there. you cover the woke movement better than anyone else. what did about the idea that american, americanism is not word admiration anymore? >> i think it is less than admiration, more than just interesting, charles. if you think about it, all the hollywood studios are super
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reliant for ticket revenue right now. super reliant on all the franchises abroad. think about a comic like superman. one day they want to option that out for tv streaming, film, having a globalized brand will help them sell it. charles: at one point the globalized brand was america, right? in other words, everyone wanted to strife to be like america, to have our richness, have the things we had. is it the sense that, that we're no longer like sort of looked up to anymore? is this what the media is thinking, that okay, the world doesn't look up to america anymore, so let's take out the american way with respect to superman? >> i honestly think it is just a technology thing. with the advent of streaming, not just film and tv by the way but also with music with, tiktok and social media we're now able to actually democratize, globalize some of the content we can consume. used to be we exported a lot of our content because there wasn't
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the same level of production quality abroad. now if you look at what the studios are able to do, they can cater streaming services, music services to people all over the world. so i think it is less that people admire the american way, that they see a strong business case for being globalized. that is my personal take. charles: let me ask you, you brought uptick tock. they have sparked at least in this country, waive of nostalgia in the united states. give us some examples of that. >> so funny, scrolling through tiktok, i'm a millenial, wild to watch all the trends coming back. hoodies, abercrombie & fitch jeans, even things like wired headphones, things that were cool playing our cd players back in the late 90s, early 2000s, they're all making a comeback and if it weren't for tiktok viral algorithm i don't know these brands would get the second life they're experiencing right now. charles: certainly getting it. less than a minute to go. not a comeback per se but facebook under serious pressure.
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on one hand the company had, they will built out the metaverse. they're hiring thousands of people around the world but on the other side it feels like there has been some permanent damage to the brand. to what degree i'm not sure. what are your thoughts? >> i totally agree with you. i do think this has been a huge brand reputation problem. the stock continues to be down from the all-time high in september. as long as whistle-blower leaks come out. they adjusted a few minutes ago on twitter they're expecting more. this headache is far from over for facebook. charles: sarah, thank you so much. we'll talk real soon. bring in the founding partner, macro trend advisors, mitch roschelle. pick up on facebook, obviously very compelling. up right now, right? but this stock took a pretty big hit. it has been sort of teflonnish in the past. it looks attractive as hell for
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an investor but on the other hand looks like permanent damage. would you be a buyer? >> i don't own it. my story with facebook, bought the ipo. we remember what a mess the ipo was. maybe a year later i talked to my kids bit. when they told me that facebook was for old people i dumped stock and i haven't looked back. my kids told me they were into instagram. i kind of missed that train but, you know, this is a business, charles, that has regulation in its future. i talked on this network many times about the fact that when regulations do come their way i wouldn't rule out facebook actually writing the regs but i remember mark zuckerberg's fame must time before congress, pretty clear, republicans, democrats congressman and congresswoman pretty clear they could not understand what facebook did. i think there is regulation coming. i don't have businesses that have regulatory headwinds. that is why i stay away from facebook. charles: talk about the supply chain crisis.
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rising inflation. on one side we keep hearing about that but also consumers, buyers keep stepping up. not just the nostalgic stuff either, right? we saw the retail sales report. what will give? will consumers buy us all the way through the inflation problem or at some point will they stumble? >> i think consumers, i don't know that they will stumble but the elasticity of the consumer gets stretched so far and thin the rubber bond snaps. there is $1.6 trillion of excess savings that propelled the economy with all the stimulus. the white house is pretty rich for jen psaki to say the reason why we have the supply chain premise it a demand problem. no, it is clearly a supply problem. i don't think consumers will put up with it forever. they will start pushing back and stop buying things when prices get too high because that is what history has proven. at some point inflation will be a economy killer. charles: it is interesting that
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pete buttigieg said something similar, that americans are making more money. no. they got more money. got the stimmie checks, almost a trillion dollars directly into the bank accounts, 2 trillions in savings that is different than in the past where organically things are getting better. those are two distinctly different things, aren't they? >> a handout is not making money but being given money. he is well-educated. he should know the difference between verbs. cpi, americans are losing money every day because the dollar goes less far. i wouldn't rule out seeing inflation hitting 6, 7%, because we don't have the real cost of housing embedded into inflation because that lags six months. i think there is more inflation ahead. charles: to your point, in the last three months real income year-over-year, wage income down .8, down 1.1%, down .9.
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that is what happens with inflation. mitch, thanks a lot. talk to you again soon. >> see you soon, charles. charles: on that note so much for brick-and-mortar being dead. i talk about it a lot. look at macy's today, a major breakout. i will ask my market watchers later if they're buying this stock. a lot of folks like to buy the breakouts. after years of being ridiculed, bitcoin over 60,000 after the new etf. who is laughing now and should you be buying now? we have those details next. ♪. ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture.
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ashley webster with the details. i'm not sure if they're laughing anymore, are they? ashley: no, they are not, charles. another landmark moment if you like. analysts say this could indeed be a watershed moment for the crypto industry as we know has been fighting for acceptance and endorsement from financial regulators for years. as you say the very first bitcoin linked etf would make the most widely traded cryptocurrency to most investors who just need a brokerage account. the etf from proshares will track the bitcoin futures market debuting tomorrow on the nyse under the ticker, bito, whatever you want to call it, bito. the etf seen as another major step for a crypto industry trying to get a foothold in the very hyper regulated world of finance. four more etf providers are reportedly hoping to move forward with trading this month. invesco may begin trading in
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another etf this week as well. it is gaining steam but some crypto fans complain that futures based crypto efts won't track bitcoin and investors could be saddled with substandard performance if crypto keeps risings. the new etfs don't invest directly into cryptocurrencies. that is important to note. in the past they tried to launch spot bitcoin etfs, sec rejected proposals what they call manipulation concerns among other concerns. this is seen as a beginning and proponents say that the crypto world is matured that the sec should allow funds that direct in cryptocurrencies. gary gensler not a fan, consistently doesn't see much long-term viability for cryptocurrencies, and maybe he
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will be proven wrong, charles? charles: yeah. a long list of folks in that line. ashley, great. thank you very much, my friend. appreciate it. i want to bring in strategic wealth partners wealth advisor luke lloyd. and, luke, you have been steadfast, told folks to buy and hold bitcoin during particularly the dicey periods. there is lot of excitement built up over the proshares news. what does it mean to you? what are the implications? >> this etf definitely adds more legitimacy to bitcoin and all of crypto and makes it easier to access in retirement accounts which is very bullish. before you had to use grayscale gpc, etfs have lower fees and trade closer to the real price movements compared to something like gbtc. the question which asset class will perform better over the next decade? will it be the s&p 500 or bitcoin, at what level of risk for that? bitcoin is definitely more risky but i think bitcoin has the potential to outperform 10 times over the s&p 500 over the next
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decade. bitcoin is probably 10 times as risky or even more, but if you're young, you can take on the risk f you're retiree or don't have the risk tolerance, allocating 1% or 2% of your portfolio makes a lot of sense that could become 10% or 20% which is lot of money down the road. >> 10 times more than the s&p is extremely enticing. great point you bring up risk and reward. put something on it maybe but here's the thing, you heard ashley mention gary gensler. global regulators will not go gently into that good night. an official from bank of england, $1.2 trillion, subprime mortgage security thing, you remember that, alone triggered 2008 financial crisis. crypto at 2.3 million would be a bigger threat. what is it, regulators, a lot of hedging, rooting for collapse of cryptocurrency? >> these regulators will not
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definitely not be gentle. they will come out guns ablazing. bitcoin is already the world's third largest currency. crypto is the size of apple. it become so big it has to be regulated and at the same time it is also too big to fail. the thing, charles, crypto bitcoin regulation is complicated. no government can regulate bitcoin directly. the only way to shut down the internet completely. we all know that is not happening. governments can regulate access to bit kin. they can regulate transactions of bitcoin. infrastructure buildout of bitcoin. they can create their own infrastructure and take out demand for bitcoin. bitcoin is the ultimate hedge against inflation and failing system, including printing trillions of dollars in the high inflation environment. the reason i don't think it will be the ultimate hedge yet. they have to get you there regulatory headwinds, if it gets through it could be million dollars a coin. charles: interesting this guy was equating bitcoin to the subprime problem. just sort of you know, it is
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ridiculous in my mind. >> comparing apples to oranges really. charles: the suggestion they're make something that somehow bitcoin is the ultimate sword of dam damocles is unprofessional. >> direct opposite. charles: mike morgan saying buy the dip is worst thing you can be doing right now, pointing his finger at investors for doing it. every time we're on the show you remind me hashtag buy the dip. are we still there? >> sounds like he is a player hater. big advocate of buying the dip and big advocate for underdogs. i'm used to being the underdog most of my life. what i do know, charles, underdogs know how to compete. if you're bearish long enough, right once every 10 years that sounds depressing f you're bullish, right, buying the dip, you're right 99% of the time. look who is right, traders. even dave portnoy coined the phrase stocks only go up.
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>> hashtag, buy the dip. speaking of which amc is killing it. making nice move in part because of some box office receipts. doing pretty good. look at that move, 5% today. trades is coming up next. we're talking to the investing apes and what is in their future right after the break. ♪.
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♪. charles: in 1896 american humorist, novelist, social critic mark twain was in london, part of a world tour when rumors sprang up that he was dead when a newspaper published his obituary, twain reported that the report of my death was an exaggeration. that seems to be the case with a so-called meme stocks an investors are a favorite of target of financial media criticism. joining me trades, from youtube, trey collins. trey, hollywood kills $50 million over the at box office even though streaming at the same time. is this more proof that movie
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theaters can coexist with streaming? >> charles, always a blast to talk with you. a great analogy with you, i watch vikings games at homes, having a couple drinks, i bought some vikings, lions tickets. fun to experience the game in person and be ultimately entertained. that is what movie theatres compared to streaming. they will never die. same thing restaurant. people eat a burger at home, burger in town. charles: plus the vikings beat the lions. any gam this year will be against the lions. i don't want to digress too much. >> everyone feels like a loss. i don't know what it is. charles: amc, a lot of folks rooting against the whole thing. some mentioned short interest is going down that the stock is doing down at the same time. it is making a pretty nice move right now. what is the proposition
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vis-a-vis short interest? is that the main thing anymore? >> you know the short interest definitely is important, charles, but that is one piece of a very massive complex puzzle. i think the most interesting thing about amc is the derivatives market. the calls and the puts for this specific security are so heavily traded that you can actually hide a massive amount of short interest in the puts. i think that is what you're watching happen. charles: right. >> this stock is constantly being hedged to the downside anytime there is any push because of the massive amount of derivatives that there are. i'm more paying attention to that. i want to see puts getting absolutely burned. i want to see premiums getting smoked. that to me is going to really ignite the fire that will drive the short interest down and then the stock price up. charles: speaking of which the financial media, they always talk about amc as a loser because off the highs of the year. the stock is up 1823% this year! imagine that.
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the psychology making someone feel like a loser for owning a stock up 1800%! >> man, that is the guys like chanos that want people to think that. at the end of the day so-called smart money they can keep calling them smart money because that sounds pretty stupid to me. i don't know. charles: chanos is short tesla too. a lot of folks short tesla, lost 50 billion last year like to pick on amc as well. have to go in a minute. i'm rooting for the meme stock buyer in part because i also want them in this market forever. i want them to broaden their portfolios ultimately. are you starting to see signs of that? >> i think before you take the stairway to the cracken kingdom you have to start on the first step. to me that is what happened in january. people are eager to learn. they're far more eager to figure out to answer why the buy button was taken away. how do we take care of paying for order flow? take care of two day
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settlements? that is the thing retail is focused on for a fair market. they will buy stocks to diversify the way everybody else does. first things first, a fair market. charles: still a matter of trust? and fairness. >> absolutely. charles: all right. >> absolutely, charles. i don't think the regular person believes the market is not rigged. there is statistic somewhere. charles: i always said it is rigged. i written two books on the market. said as much on the market. i'm glad people are fighting back, folks like trey. he will join me in the new investor revolution town hall, november 9th, 2:00 p.m. eastern time. email your questions. i want as many as possible. we'll try to power through them as much as possible. invested in youinvested in youi. i'm a vikings fan but we'll talk a little football too.
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we'll be right back. ♪ ♪ ...
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... as your broker, i've solved it. ow. that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that. schwab. a modern approach to wealth management. charles: all right, folks the market edging a little bit higher, being led right now by consumer discretionary names also this computer chip stocks look fantastic and one name standing out macy's breaking out to a new 52 week high in part to being generated apparently sachs will go public in the first half of next year, $6 billion deal but all of this is just a stock picker's market but i will say the
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pickings look good i want to bring in chief strategist victoria fernandez along with tj m institutional service director jim ario. victoria, i'm digging this action right now, i'm really impressed i love these sessions, where there's a lot of subtle things going on beneath the surface consumer names look fantastic even though a lot of the folks obviously won't have all of the products people are looking for , what are your thoughts overall? >> charles for a long time we thought the consumer is the person driving the market and they are dictating what we're seeing as well. you look at retail sales last week and it tells us that demand is still there even with these inventory and supply chain issues. that these companies are having, so, we're heading into a holiday season, which is going to give these consumer names some pricing power, and you combine that with higher wages, savings continually going higher, and more job openings, than there are unemployed people, and i think you've got a tailwind for these consumer names to continue to do well through the end of the year.
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charles: jim another tailwind maybe this seasonal pattern, right? historically, you look at what's happening it's looks like that turn might have begun last month , last week, rather what are your thoughts? >> no, fourth quarter is always best for consumer discretionary, and i think that that's an important part. this is different, of course too , because now we have the fight of all this loose money that's been thrown into the system, so the upper end consumer is still relatively healthy, but then we're talking about supply chain as well, so to me, it seemed like that was a push-pull but i look at the market and it seems to tell me the loose money out weighs the supply chain issues and that things are going better. it's not just macy's for the headline today. also the xly, which is consumer discretionary etf broke through some important levels on the upside too and it's pointed higher. charles: and xrt which doesn't have amazon is up like 40% this year so the consumer has really been driving a lot of this so the action let's talk about trading ideas. victoria what do you like at this point right now? >> so sticking with that
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consumer theme, we've been adding to some of those names, so you look at a name like target, lululemon, cvs, those are all names we've added to our portfolio for the exact reasons we're talking about. the consumer is strong, demand is there, these companies have pricing power, and these larger companies that have been working on their supply chain and their online issues for the past year and a half are sitting in a really good position to take advantage of the situation that the economy is in right now. charles: jim? >> you've asked me this question a couple times and i've stayed consistent the whole year. i still like oil and banks the most. one interesting thing about banks today is that they're doing okay even if the yield curve is flattening. to me, i think they are saying that higher rates on the shortened are good enough to push banks higher. the oil demand, if oil demand is rising, going through technical levels to me it looks like oil goes to l 88 for starters and possibly 100 in the next couple months and drags the oil names with it. charles: i got out of some of my
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oil names i feel like i might have been premature so if i get a chance jim i'll be back with you for sure and to your point, there's nothing stopping from going a lot higher from here, we've shot ourselves in the foot we should be drilling for more but we're not. love having you both on particularly for that segment we have a lot of great ideas victoria, jim, we'll see you both very soon as i hand it over to my colleague liz claman, we're getting a little momentum into this last hour of trading. liz: as he said he liked his play action so do i. wall street is kind of looking at a split decision to open a very busy week the third quarter earnings reports, but these numbers were way worse, earlier the dow was down 258 points now it's lower by just 63. s&p up 11, the nasdaq, yes, gaining 109 after having been down about well down 64 up 104, so we've got nearly 200 points of a swing. breaking this afternoon, apple unleashing its next generation air pods, the battery life wait until you hear, in a stunning


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