Najarian and steve weiss and bob lebenthal. And so what are you seeing here with the end of sports a authority, and what about this pain . Well, the Sports Authority is the gift that keeps on giving, and i saw the big bankruptcy sign, and judge, did you see the same thing . 10 off . Who does a liquidation at 10 off . Nobody. You know what i did when i saw that . I marched out. Exactly. They better have a lot of money, because nobody is buying money at a place that has a 10 off going out of business sale. Just getting started. But is it going to hurt under armour, and all of these are a death by a thousand cuts, and yes, it is going to affect under armour, and nike, and also, to a smaller extent, but those aret not the big things, and the fact that the olympics are not something that is going to be nearly the driver that they have been in the past, and that is my feeling, because of zika and a whole bunch of other distractions, i think that people wont be as geared up for it. So i think
The perfect trade. Pete, what do you say . Weve been talking about how technically its been holding on to the 50 and 200day average. The xle is the big cap names. The names have absolutely been performing. Look at the way the xle traded today. There are some of the dash for trash names. Ill give you a good example. Today i bought options out in chesapeake. If energys going to do what its been doing, higher highs, lower lowers, that were going to see some of the most beaten down names. To maybe start to have participation as well. I think, look, the fundamentals have clearly not been in focus here, right . This is a trade this is totally a sentiment trade. This is a momentum trade. Dont jump in headfirst thinking equities are at par where the commodities are trading. Bottom line is, what were seeing, fundamental guys actually pulling back and making sales at these levels. Maybe getting a little Long Exposure for momentum trade higher. The equities probably go a little bit higher. They a
Impact she thinks brexit will have, and will there be more theyre talking about a 150 billion euro bailout fund over there. Potentially. The man known for playing walter white, yes, its true. Bride yo Bryan Cranston will join us to talk about the infiltrator. A lot of excitement having him around here today. We have full team coverage. Bob pisani is watching todays historic moves. Bertha coombs is at the nasdaq, where the index has been flirting with 5,000 today, and Mike Santelli looks at whether the earnings may be coming to an end. Bob, start us off. We have picked report highs without the help from some of the biggest players right now. Whats really maried is the Consumer Staples stock. But thats whats really moved things forward. Consumer discretionary has also helped a bit. Theyve all lagged notably here, without some of the support, for example, financials, energy is a much Smaller Group than it was just a year and a half ago. A lot has to go right in the second half of the year
And what happens when the facts change . Tonight im going to show you in real terms what can go right and what can go wrong. Because i want to teach you from both my wins and my mistakes so you can replicate the wins at home hallelujah but avoid the losses. Thats are all taken from reallife investments from my Charitable Trust, where we document everything in real time so we know contemporaneously, what we would do before we pull any trigger. So often were restricted. Because if i mentioned one of the trusts on air, the trust is frozen and the trust cant take action. But we can tell what the trust would have done. The trust cant do as well as you might be able to do from the bullet groups from action alerts. Com. But these encompass all the moves that we could have made and did make. Ill spare you the actual gritty details. I wanted to fill you in on the misjudgments that lead to losses and the correct thinking that leads to gains. [cheers and applause] first let he descrime describe p
Nasdaq declined 3. 4 . Its very rare that we can sustain this endlessly bullish move. Rallies end or take a break either by matador or by pamplona style exhaustion. Its the way the hot streak comes to an end is what matters. A big ugly decline is the matador. Second way out is a whim per. I like the smart. But i want you to know what the former might look like so you can be prepared in case that happened. Every once in a while i talk about the Fabulous Service i paid for from standard poors. Its anathema to many. After days and days of rally, the oscillator hit the level of 10, it is a level of danger, which means the market is severely overbought. Buy, buy, buy, buy, buy when stocks get severely overbought, theyre exposed to a level of quick shortterm vulnerability which would make it nuts for you not to do a little trimming from your portfolio. Sure, the market can say overbought for a while. When we see the number 10, its the natural thing to do. Just like to cover your short positi