tv Making Money With Charles Payne FOX Business October 20, 2021 2:00pm-3:00pm EDT
who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com david: we're off the highs. we're only about 22 points away from a record. i think charles payne can get us there. charles, all yours. charles: so you heard about the cp effect, huh? david: of course. a little bit. charles: all right. talk to you again soon, david. hey, good afternoon, everyone, i'm charles payne and this is "making money." the rally has gained steam the last six sections on strong earning but companies that can't pass along the high inflation costs are getting hit big time. in fact i have one chart formation that really suggests we'll move to big breakout territory. meanwhile china's president xi sounds more like a capitalist than american progressives, getting his people back into the idea of prosperity for all but only through hard work.
i should slain why we should stop young adult the from quote, lying flat. facebook wants to change their name rebranding ahead of the metaverse. facebook what is better name? tweet me your suggestion at @cvpayne. i want wait to share your suggestion. all that and more on "making money." ♪. charles: one of the oldest saying in the market is new highs beget new highs that is the notion now. the train leaving station. begun to supersede all these issues. the not too long ago the market was bogged down with sentiment bogged down a couple weeks ago but the market much more of the movement of the indices that you see on your screen doesn't always tell the full story. in fact today there are several narratives that i want you to be aware of. certainly the action has been mostly in the defensive nature, right? defensive sectors like utilities, there is a message behind that. restaurant stocks on the other
hand are getting slammed on high costs and staffing woes. technology has been steady but drifting here lately. in the last hour netflix of course not helping there is profit-taking. i'm seeing some of that in the energy sector. major equity indices are nearing record levels it is all about bitcoin. there is lot to side with all of this. i want to decide with two of the best, gary kaltbaum and phil blancato. i want to start with breaking news, the 90th birthday of papa k, gary k.'s dad. raised an amazing son and amazing family. got bless you, sir, for the service you have done to the nation and also with your family. gary, congratulations. 90 is -- >> thank you. charles: beautiful, beautiful. >> just, charles, just so you know three years in the coast guard and to show you what a man's man he was, from the age 11 to 17 held two jobs into the
night and gave every penny to his parents to make sure they can make ends meet. so great father. great husband. great-grandfather and i love the man. thank you for doing this. charles: absolutely. we all salute him. on this market, gary, how surprised are you? remember early last week we were in the midst of a four-day runt, every day the market swooned to the lows of the session. something only done a few times in history. here we are instead of falling through a trap door, we're knocking on the door of all-time highs. how surprised are you how quickly it turned around? >> four weeks ago i mentioned energy emerging. two weeks ago the financials. we're starting to see other things come on and that is how markets work, little by little, piece by piece, inch by inch they break down and start emerging towards the upside. another big help the chinese adrs just crashed they looked like they have turned the
corner. retail which was getting blasted looked like they turned corner and here we go. to be blunt, if the big indices can break out of range that will invite the big institutional crowd to start piling on top of that. we'll see the same thing each other sees, where you are saying correct, highs beget more highs. i think we got a good shot here. you never know. look there are so many extraneous event the out there. i think we have a good shot if we take out the highs here. we have pretty darn good end of year move. charles: phil, those extraneous events have been with us, right? maybe a day ago we were talking about this market breaking down big time. why has the bias shifted to the upside in your opinion? >> remember the santa claus rally moment is here. remember a lot of things happen the market. mutual funds rebalance portfolios setting them up for the year and cap gains.
retirement into the market sector. that is the exception at floes come in. data is strong. look at number of people going back to work. liftoff of consumer spending. all the reopening trade is happening now. it got delayed six weeks. we're past the hardest part of the year. we're set up for plus forward end of the year. very accommodative fed. be honest, the economic data is strong. 30% earnings growth. charles: i have major major breaking news, scuttlebutt. out of washington, d.c. senator joe manchin considering leaving the democratic party, turning independent, to turn the corner with all the negotiations. they have been trying to twist his arms, gary k. what would it mean for the economy, market, what would it mean for america? >> it could stop the extreme
spending, taxes, rules, regulations, fines mandates, the nerve of them to come after people with $600 in your bank account, to be able to stop that would be very good news. i would like to see sinema follow suit. and it will be a message to the left enough is enough. you know i've been saying on my radio show for months because i'm pretty much independent, is that joe biden had been marketed for decades as this moderate and soon as he becomes president you might as well say the word president sanders with some of these policies. they started at $6 trillion which is obscene. they take it down to 3.5 like that is a compromise? so good to see. we don't know if it will happen. at least no doubt this was leaked on purpose by manchin to scare the living wits out of them. hopefully it moves forward. charles: phil? >> this is gigantic. think of all the unintended consequences come of this. suddenly talking about a much
more targeted spending bill which is. more effective. when you look at spending bills like this they could be unicorns, may never happen. reduce it, target, you have a stimulus effective. i think incredible move. good for the economy. gives us balance. we need more balance because of the rhetoric to gary's point. this should be a massive move. this has a positive economic impact because the stimulus gets done. it is specifically targeted to things we need. very powerful move. very excited about it. charles: let me is about brinker. that is the loser of the session. parent company of chili's other restaurants. the company saying they can't do it. they're trying to raise prices to keep up with inflation. that will take some time. margins are under a huge amount of pressure. you know, when you see a stock get hit like this, you know they're going to be in this predictment a long time. we have viewers watching, they have a tough time in the market. do you feel eventually they raise prices, inflation pressures go away, the new
prices, higher prices are there, they become sticky. that seems like it would take a long time to unfold. would you sell something like this or hold on to the stock? >> the reason, are you kidding on something, we talked a lot of it, a lot is transitory. this i don't think is. go from $8 wages per hour to 22 you can't unwind. every house we look at costs to a restaurants will be 100% more by first quarter next year. only certain restaurants can pass that on. certain cannot. this is example they have a tough time of it. they are a lower margin business, lower cost, cut bait, to places where people will spend, things are not as expensive yet. electronics retailers, financials, retail restaurants is tough place to make money because the costs are so high. how much will people spend there. charles: the transition will take so long. phil, thank you very much. gary, again, happy 90th
birthday to papa k. bring in fair leaf strategies founder, katie stockton. katie, the indices approaching all-time highs. naturally my question, forming a double top that is bearish formation if it doesn't break through. give me scenarios, hit a new high, break through, what if we start to pull back? >> we do expect a breakout to new highs by the major indices. we've seen real improvement as you can imagine in short-term momentum gauges that bodes well for the seasonal year-end rally. our indicators suggest we come out of seasonal weakness we saw mostly in september. that the longer term uptrends are resuming. however i will say that there are some signs that exhaustion on the longer term charts, if you look something like the monthly bar chart of the s&p 500. there are issues we're keeping an eye on. we actually moved as of today,
to a neutral long-term bias because of them. they are very similar to what the set-up was in late 2017. if you recall 2018 was not a downtrending year but more difficult, highly volatile trading range type of environment. we're keeping an eye on that. charles: so when you are looking at these different charts and you just, you know, you brought up two or three there, which one would be like the most important, particularly for someone trying to learn how to use charts in their decision-making process? >> we like to look at multiple time frames. we encourage a monthly bar chart, a weekly bar chart, a daily bar chart on their radar with whatever combinations they need to help their process. charles: okay. >> for us we like to start with the monthly s&p 500 chart with long-term momentum gauges. things like the very popular mac indicator and simply moving averages of price. that can be incredibly
important. we also like to have on our radar gauges like things of market sentiment which we like to track the vix. i think we talked about it last time i was on and the vix stayed below the key threshold of 25. it is still range-bound very close to the lows of its range around 15. those levels and metrics can really help us manage risk and understand how investors are thinking about the market. charles: i've got a minute to go. your assessment on bitcoin, it's on fire. what's next for it on the charts? >> overall celebrating the new all-time highs for bitcoin prices today. they're clearing some resistance just shy of 65,000. if we do see that breakout confirmed, meaning it holds up there for a couple weeks, this week, next week, then we can arrive at a targeted level of just shy of 90,000 for bitcoin. that is simply assuming trajectory of the current trend will maintain itself and at this time there are really no new signs of upside exhaustion for
bitcoin on the chart. charles: fair leaf is covering cannabis on technical basis. we run out of time. when i come back that was the who thing for young investors two years ago, maybe usurped by the bitcoin and meme stocks. katie, we always learn something on the show. >> thank you. charles: your company is under fire what do you do? how about change the name? maybe that will work. that is certainly facebook's plan. we'll tell you what you think about it. i want to know what you think about it. tweet me, what is a better name for facebook, a more appropriate name. cv payne is the twitter handle. democrats try to solve the irs 600 bucks things. you can't wait to see how far they went up to go after the millionaires. brian wesbury is here to sound off on that next. ♪.
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total $10,000. this is more than the $600 levels, the levels suggest a whole amount of americans are potential tax cheats. i want to bring in brian wesbury. i think it is nuts. i want to share part of a statement for secretary yellen. this new proposal reflects the administration strong belief, should zero in on those top of the income scale didn't pay taxes they owe but setting bank threshold at $10,000. $10,000 and jeff bezos don't go in the same sentence. this is not jeff bezos, about anyone named jeff, anyone named brian, anyone named martha, anyone named keith. this is a net for all americans. they're unleashing the irs. it is completely nuts. >> i completely 100% agree with you. let me go where you start the whole argument.
they are claiming, that the white house is claiming that top 1% have $163 billion per year in what they call owed but unpaid taxes. and i'm, my challenge to them is, if that's true, then all the top 1% should be in jail. this, it can't be true. and so that is number one. number two, the reason they get that $163 billion, because they're changing the definition of income. they're including capital gains that have not been turned into real gains, unrealized capital gains. so this whole change of income definition and coming up with that figure, they're just trying to demonize people. and then second, just real quick, to add to this, you know, if you, if you only made $500 a month, let's say you mowed lawns, $500 a month and you deposited that in the bank.
that is $6,000 for the year. then you took the $500 out every month because that is why you work so you can spend it, to spend it you would have 6,000 in, 6,000 out. that is $12,000. that meets janet yellen's threshold. charles: yeah. >> this is not about catching rich people. it is about collecting data on every single american. we shouldn't have this discussion at all. charles: well unfortunately we are. do want to pick up on something. >> yeah. charles: teachers, firefighters, apparently some others obviously large union types will be exempt. in my mind that is defacto mission that is a punitive action. join a union you won't have to worry about getting a visit from guys in trench coats? >> right, exactly. i didn't mean it's a waste time for you and i at that talk about it. it is a waster of time for the country to talk about it. i know they want it. i know they want more control over financial transactions in
this country and individuals but you're absolutely right. it excluding certain groups just because they happen to work for the government or be in a union, they're favored by this particular political party doesn't make it any better. in fact you're right, it shows it is a defacto agreement that this is the wrong thing to do. charles: yeah. it is just, really amazing to me with the confidence that they roll it out. it is interesting that the statement from janet yellen was the same statement with 600 bucks. so you know whether 600, 10,000, it is not aimed at billionaires of this country and i think everyone should be worried about this, it will be $40 billion in extra tax money to fund this large army. brian, always appreciate it. talk to you again real soon. we're out of time, my man. >> all right, charles. charles: coming up why china's president xi could school american progressives about what share prosperity is. believe it or not.
facebook, they want to revamp their image. and start with a name change. tweet me your suggestions @cvpayne. i want wait to share some of them after the break. ♪. (sfx: video game vehicle noises, horns beeping,) (engines revving, cars hitting one another.) (sfx: continued vehicle calamity.) just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, including automatic emergency braking. find new peace of mind. find new roads. chevrolet.
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deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. charles: facebook reportedly planning to change its name in order to align its brand more toward the metaverse. we're hearing that change could come as soon as next week. kelly o'grady is live with those details. reporter: charles, big tech changing its name is not unheard of. google rebranded alphabet to more accurately reflect its portfolio services. facebook operates whatsapp and instagram but ceo mark zuckerberg is bullish on the
metaverse. we don't know quite what that metaverse is going to look like but zuckerberg says it is embodied internet, virtual and real world will have a full-fledged economy. they value the metaverse at $800 billion by 2024. no surprise facebook has been pouring money into the space to make that reality. earlier this week the company announced it plans to create 10,000 jobs in the eu focused on developing projects related to this. on top of that its acquisition of oculus vr back in 2014 remember, revealed how long this initiative has been a priority for them. to access the metaverse users will need some virtual reality headset and with oculus facebook owns the hardware as well. so that is an important point. the company has already been testing virtual reality spaces launching a work from home app for the okay cue less quest verizon work rooms. they have virtual spaces. after havetores holding meetings
collaborating if they're in office together. this name change comes as facebook is in the cross-hairs of bipartisan lawmakers most recently admitting it allows users to share information about how to enter a country i will healey. lots of potential reasons for the rebranding effort. but i saw your call for names and suggestions, charles, so i hope we get a winner here. charles: we have some that i can't even mention on air. reporter: i'm sure. charles: "the matrix." that is it what i'm saying. reporter: i like that. charles: thanks a lot. i want to bring in carol roth now. carol, listen, you're a business expert, a marketing expert, how much of a name change, whether the metaverse or anything else would help because i think there are some other things going on here. facebook has become stale in many ways. even offensive a product to many consumers. it is not just the metav is it? >> first, charles, nobody knows what the metaverse even means. you go on the street, saying
what is the metaverse, most likely response you will get i think i saw the metaverse open for pearl jam in 97. nobody knows what that is. second it is really hard to rebrand an iconic name. i live in chicago. the sears tower had a name change more than a decade ago. you know what we all call it? we call it the sears tower. how many times we referred to quote alphabet and google? this is a difficult thing to do. facebook will spend tens of millions of dollars. they will spend all kinds of time and energy. they will certainly not fool investors and i think from the consumer standpoint they will want to use the product or they're not. seems like a giant exercise in wasting time and money. charles: i love that perspective. i read an interview with china's president xi and it really struck me how much his comments and his plans for prosperity are so much vastly different than progressives here in america. i want to share a couple lines and get your thoughts.
one, quote, happy life is earned through hard work while common prosperity is created through wisdom and diligence. this is what we talked about all the time, sort of the dignity of work, and not being played out in this country these days, carol? >> it is very weird. we have the mirror situation going on with china where we exported capitalism to them and we imported central planning. obviously that worked out quite well for the chinese and has not worked out as well for us. we have tons of chinese billionaires. there are more billionaires in china today than are in currently in the u.s. but don't be entirely fooled because it is still rhetoric and it is still propaganda and at their core they are still communists and we've seen this in recent months as these companies and individuals get power, they get a little knock from the ccp, well maybe you should magically donate some for the common good. the messaging is right but i'm
not so sure they believe it. charles: here is another line i want to share with you because this also blew me away. we need to prevent ridge did i of the social class and get people more opportunity to get wealthy and environment where people can avoid evolution and lying flat. i looked it up. lying flat is the phenomena. it involves evolution, describes young adults, youngsters, growing anxiety, discontent about not being really able to progress in life no matter how much effort they put in. that sound the like a whole lot of millenials to me. i think the messaging here far too often is from elected leaders, you're right. you should feel this way. things are bad. let's pay off the student loan. let's do this for you. over there, at least what he is saying we want to avoid this because we don't want anyone lying flat. we don't want anyone, they said they don't want to be europe. that is what strikes me. they don't want to be socialist
europe where people are getting paid not to work. >> yeah. i mean they have a huge demographic problem, right? their birth rate is going from one of the highest in the world to the lowest. it is projected within 10 years they will have double the amount of pensioners than they have working individual in the tax base and part of that comes from the one-child policy and all of the central planning intervention. they literally cannot afford to have people lying flat and out of the workforce but it is the kind of messaging that we want to hear and certainly we're not hearing that here in the united states. we're seeing limits being put on economic freedom. so i'm always thrilled that our people like you, charles, who are standing up and helping people make money and talking about the dignity of work and making sure that we preserve that economic freedom because certainly people in politics are not doing that. charles: they certainly aren't. we are in a predictment here, no
doubt about it. thanks a lot, carol, for the compliment. thank you obviously for sharing your pearls of wisdom. we appreciate it. by the way i'm getting flooded, flooded of suggestions for new facebook. share a couple. spy book someone says. brian tweeted face plant. sure to tell you data, turn around to have your personal information stolen and sold. amc for good says, how about old people scrapbooking? right. by the way, even the bots are joining in on it. one bot said how about calling it disgrace book. from a twitter handle with one follower. avalanche of retail trades, starting to slow down a little bit. that does have me worried. i want to know how we keep this individual new investor revolution alive. who better to ask interactive group chairman thomas petifry. he is a pioneer in the industry and he is next.
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♪. charles: these are amazing times in the investing world where new investors not only want to participate but they want a greater voice and of course greater fairness. i want to bring in pioneer, investing pioneer thomas petfri with us now. thomas i want to get to your quarterly results, plan for the future. i want to ask if i can about the sec release, equity and market structure. it essentially covered the gamestop and robinhood drama from earlier this year. your over all thoughts from what is in the report? >> unfortunately i haven't had time to read the report but i have received some summaries of it and it basically touched on the right points except that there are certain dark corners
in these matters that they did not get into or at least did not get into publicly. so we'll see if any of that will emerge. charles: i did see one interview where you talked about all the action, pre-opening action and things like that. >> that is -- [inaudible]. exactly what i mean, yes. charles: do you think those were orchestrated moves, to sort of manipulate the stock higher? >> no. it is, it is the rules that call for the brokers to buy in failing shorts prior to the opening. charles: oh. >> which is a crazy rule because there is no liquidity there. so that why it happened that the stock, two days and the stock doubled, the price doubled between, in the morning before the open. charles: i gotcha. >> because no sales there. but the brokers must buy into the failing shorts by the rules. charles: well, to your point, i
hope we get something a lot more concrete and deeper. meantime i want to talk about the revolution itself. apparently robinhood the average customer is about 31 years old. median account is 240 bucks. apex clearing said six million new accounts it covered last year. one million investors average age of 19. i bring this up, how do we make sure the young folks getting into the stock market, they're not deterred, not discouraged? so many tell me once they ever get out of an amc or gamestop they will never do this again, because they think the system, the establishment is against them? >> charles, i don't believe that. i think it is good that more people get into the market the better off we are. young people involved in the economy as many as possible. not only as consumers but also as investors. we want them to go to their investment dollars for the companies and products.
an idea they like and others they do not like. it is important for people to understand in a socialist economy the state is in charge. they direct the economy and what happens. in a capitalist economy it is the consumer and the investors who determine what happens, what goods and services are going to produce and how they are distributed. and that is as incredibly important difference. and so i'm very, very happy that all of these young people are coming into the market and get a taste and they learn how the economy works, even if they lose money. first two times i, first two times i ventured into the markets i lost all my money but that didn't discourage me. charles: right, right. you know, i got to show you some made a lot of money. my first time i got in, i bought
mci, 1981. i doubled my money. so i was hooked. i was hooked before that. to your point i had some big losers after that. get to your company, interof course tiff, beat the street. customer account 1.45 million. what is next? i'm looking at a chart here recently, thomas. we see the big spike in activity particularly among individual investors maybe through january and february and we're drifting a little bit here. is this revolution going to keep going on? >> i think the revolution is going to moderate but some companies such as interactive brokers we are always doing well because we keep bringing in new products and services all the time whether it business is good or not. and so that is just fuels our growth and we basically forecasting 30% growth going into the indefinitely into the future. charles: i would say
congratulations, you're certainly an industry pioneer. i always appreciate our conversations whether political, the benefits of capitalism over socialism and your optism about individual investors going forward. hope to see you again, sir. >> thank you, charles. charles: thank you. while we are always looking out for the retail investor, listen that is the main reason i love doing this show. i love hearing from you as well and i want you to be a part of this new town hall we have. it is the investor revolution town hall, november 9, 2:00 p.m. eastern time. email questions firstname.lastname@example.org. this is important. i think we got a few slots left. hang out with me, guys. this will be a party. we'll start celebrating my birthday a week early. we'll have a lot of fun. if you're in new york, come to the studio. use the same email address. let us know if you want to come. meantime bitcoin futures etf, my goodness, what an amazing debut, shattering all kinds of records. crypto bulls making a ton of
money. one of my favorites is not a big fan of this thing. she will make her case next. tesla on deck will report after the close. simple question, buy, sell or hold. we have two of the best sharing their thoughts. all that is coming up. ♪. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner.
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♪ liberty. liberty. liberty. liberty. ♪ ♪. charles: bitcoin reaching an all-time high today, blowing right through the 66,000-dollar threshold riding of course this new futures etf. all of this happening despite the naysayers. wasn't too long ago jamie dimon reiterated he thought it was worthless. remember china flat-out banning it. here we are back at the top. the question where do we to from here? ask about it coin author, content creator lea halprin. this new etf helping to launch bitcoin into the stratosphere. i'm hearing you're not necessarily bullish on it. what are you worried about? >> thank you, for having me back on the show charles. always great to talk bitcoin with you. it is exciting no doubt, bah but not quite the etf we've been waiting for. there are two main reasons.
the money flowing into this will not necessarily correlate with bitcoin highs. it will not necessarily put the price up. the etf buys futures contracts rather than from the spot market. you will not necessarily see that correlation. the second point it can be quite expensive. these contracts actually expire. if you believe that bitcoin will hit astronomical levels you may buy the contract again. you have to sell the contract, buy another one that expires at a later date. that rolling fee, if you continue doing this it will get very expensive that can be very unattractive to the new investors. thirdly, the most important point not enough people are talking about this is a very niche product. this is product not for retail investors. future contracts can be very complicated, complex and overwhelming. i don't believe new retail investors will look at this as a opportunity to get into bitcoin. i do say we have to walk before we can run. this is certainly a milestone to get to the spot etf i will be
more excited about. charles: i want to pick up new investors. in fact a few moments ago i talked to thomas petty if i. young folks want to control their own destiny. they don't want the establishment to be able to change the rules of the game, particularly as they start to take charge. you and i talked a little bit about this last time. you're feeling more confident now that will be the case? >> oh, absolutely. that is exactly the case because look what happened with robinhood. retail investors felt totally ostracized. they really felt like the market was working against them. finally they were making some money because they started to take on wall street following, wall street was set to make billions because they all shorted stocks including amc and as retail investors had the opportunity to make money they were no longer able to pump the
price of these stocks. we don't don't necessarily know what happened. the ceo said it wasn't a liquidity problem. we don't know. we do know with bitcoin and decentralized market we know ceo's can't halt trading. stock market goes down, facebook goes down but bitcoin never goes down. a lot of people look to bitcoin as the level playing field for once everyone despite your gender, despite your ethnicity, despite your religion, everybody has a level playing field to finally make some money. charles: happy october to you, lea. we'll see you again real soon. >> thanks, charles. charles: folks, moments away from the final hour of trading. lots of earnings are coming in one name that stands out from them all, tesla. buy, sell or hold? we'll be right back.
snyder -- i want to make this real simple, tesla buy, sell or hold. >> hold if you're in if you can't clear 100 million after earnings, get out. charles: paul? even negative on tesla, if we get a good number, would you change your mind? >> the summer and the fall of next year my 13-year-old son kept hammering me too buy the stock so i waited, he bought the stock, i did not. i think fundamentals how to catch up with their stock price and also earnings have not been a catalyst for the stock, regardless what it does tomorrow if we did get a run tomorrow i certainly would not chase a higher, i think of a better buying point down the road, earnings should be superstrong and fabulous tomorrow and i would be interested to see how investors act. charles: michelle what you look
at in an earnings estimate. >> especially because the one on one, one that reported within into a call i asked rg had a dump in a pop if that could follow through i really like that and overstock which does not report quite yet but 283 and bitcoin related i think that looks great to. charles: i love overstock, the prior ceo i thought he took too much heat he had a great point but i'm going to get off on a tangent and i don't want to do that. paul what do you think of this earnings season? >> going into different direction i'm trying to play the theme that i have that began a couple of weeks ago, gdp growth and earnings growth is about to supercharge for q4 and q1 of next year, i don't think it's going to be a narrow rally i think the rising tide lifts all boats, i'm going back to the infrastructure and the economic sensitive stuff that's been
beaten down in the bhp with a 10% plus dividend yield part of it is the china problem that we have with steel that is super levered industry that makes railcars on the industrial side, again infrastructure, huge insider buying bhp could do 50% higher than the stock price, trinity goes from 30 - 40 and xilinx, i think they are shooting higher into q1, special situation with amd trading in a discount any pullback i am a buyer there. charles: speaking of pullbacks jack was cited in spain that triggered excitement about the chinese tech stocks in many people are taken as a positive if you don't know jack, he is very outspoken and one point the richest person in china, he got out of his lane but really here's the best part he's not on
house arrest since being with his family and some folks think it is a sign that the government will ease up look at k wb chart the chinese had stocks, a great-looking chart, are you buying any of those names? >> i would play it safer and not take too much praise in the fact that jack appeared, i'm looking more at the areas in line with what she is doing which is pushing from the gilded age to the progressive age, ev's would be a good place to look, tesla is the kingpin but you also have lee nio and boys that buffett is holding, i would stay away from big tech if you want some exposure. also look at pg jay, the golden dragon etf if that gets to 50 you will have exposure to jv.com. charles: recovered a whole lot and we learned it sounds like my
son when he was 13 years old he gave me a lot of winners. thank you very much we are holding a pretty good, the nasdaq was a pretty strong earlier, i'm going to watch that as we head into the final hour of trading. that could be the key yesterday it was up and that does not happen too often, liz claman this market has been remarkable the last six sessions. liz: bitcoin features just punched above 67000. we have all of this, records all around the dow and the s&p 500 in a wicker of all-time highs in the final minute of trades can they close there? bitcoin already pulled up a trick as a hikes above the record and rockets above the actual crypto 66650 right now will he or will he not appear, the guesng