Of play for stocks as we build into our discussion. Youve got dr. Birx on the task force. The covid surge, quote, the worst event the country will face coming this winter. Stocks have run a lot coming into november. The vaccine is getting closer day by day values been outperforming lately the value etf coming off its fifth positive week in a row thats the First Time Since its fiveweek stretch ending the end of december of 2019. So my question to you to start things off, where do we go from here it seems like the market wants to go higher i think its been incredible all year it seems to definitely be picking up steam in november and pt fir the first part of december, investors are leap frogging, the political discord in washington, the lack of fiscal stimulus and leap frogging that and buying stocks in general and buying growth stocks, buying momentum stocks, buying value stocks, airline, energy, all of the above. It a really good time to reflect as investors, you got to be in it to win it i feel that by the time the vaccine is actually here, disseminated and we get behind this, who knows where the s p will be but it seems like its going to be quite a bit higher than where it is today okay. Weiss, you take that on. Bryn says the market wants to go higher does it want to go higher or does it want to pause . Mike wilson says, quote, recoveries create rotations but with those rotations now fully in gear, it may be time for a nearterm pause. Any time market has to move, you wouldnt be surprised at a pause. However, the catalysts will keep coming the way i look at it is, yes, the market has taken some of whats in front of us in terms of the recovery and put it and embedded in where the performance has been however, if you look at where the market was before covid, the beginning of the year, were not that much higher but whats changed . Whats changed is massive economic stimulus around the world thats going to drive an economic recovery that synchronize globally so under that score as well as the potential for great are stimulus here, for an infrastructure plan and for massive capex, which i keep harping on will see the biggest capex cycle this country has ever seen will say the markets got a lot of runway ahead of it and i think thats going to dictate the direction. I think its an interesting debate to have and youre starting to get some notes on the street now as to whats already baked in the market went up a lot in november, like steve was saying. Lori of rbc says their analysis suggests the recovery has room to run from a fundamental perspective. I think everybody would agree with that. But she says it also suggests a key risk for u. S. Equities in 2021 is already baked in already. Do you agree with that i think can you say that about certain sectors. Large Cap Technology didnt keep up with the Broader Market as a group in november or for the quartertodate period, even though its had a positive return i think what we could see and what we have absolutely seen is a catching up of other groups and small cap is a great example. Just for this Current Quarter to date period since october 1st, small cap is up 21 , which is phenomenal but if you look over three years, the cumulative returns in small cap are only about half of large cap. There are other areas where i think there does continue to be an opportunity weve been adding to more value oriented groups and sectors. Just as part of our thesis when we look at these more beaten up cyclical groups, theyre going to be able to grow earnings exponenti exponentially and 2021 and then 2022 that has led historically toth outperformance of those groups i think it paying to be mindful of what has worked thus far and what might work as we look out over a longer period of time i think one of the most obvious questions that any investor would have, were all wondering this ourselves, are you going to have a melt up before the end of the year do you get the santa claus rally . Traditionally it is into the first week or so into a new year or because youve maybe pulled some forward from the november record run in stocks do you miss out on this years melt up . Great question. I think the answer can be found in where the tenyear treasury is going to be priced. To stevens point, a lot of the gains have been pulled forward on the expectation youre going to get a 908 billion stimulus package, on the expectation that not only do you have the introduction of three vaccines but potentially on thursday the fda approves the Pfizer Vaccine for emergency usage. A lot of that is priced into the market where we go from here is predicated on capital coming out of where its been hiding, which has been the fixed income market being delivered into the equity market that propels it higher lets cite that today once again the nasdaq is higher, nine consecutive davis. Thats the best performance since last year. So i understand i understand the fascination with value i get it but overall were not losing exposure to that defensive Technology Growth oriented holding in the portfolio let me ask you this, joe. Whats not priced into the market optimism about a vaccine, maybe thats priced into the market. Whats not priced in yet i would suspect that favorably whats not priced into the market has a lot to do with the tariffs and theres been commentary that the tariffs in 2021 will remain in place. Im suspicious of that i, for one, believe that we will see tariffs roll back. I think eventually youll see tariffs vacated. That is going to have a very powerful, positive impact on corporate margins and Consumer Spending lets understood the detrimental impact that tariffs but the president elect is already out saying hes not going to get rid of them right away theyre going to have to sort of take stock in where we are and decide what kind of relationship he wants his administration to have with china. That may take some time to unfold understand that, respect that, but as you said, some time to unfold. That time might be quicker than the market expects it to be and that might be a near term reality that we begin to price in sooner in 2021 than we currently anticipate thats the surprise. I also think i hear more these days of people saving i like some areas outside of the u. S. , maybe for some of the same reasons that were having the conversation, steve, that we are right now. How much has been pulled forward. How much is already in the market and maybe theres more in the market here than there is elsewhere. I see you buying into south korea through the ewy, which has good exposure of different sectors. Is that trying to play other parts of the world that may be further ahead of us . You know, thats exactly right, scott so i dont typically like to buy things at the highs and if you look at the south korean index, which is classified interestingly by msci as emerging market but ftse classifies russell as a developed market but what i like about it is that they handled covid appropriately. So they quashed it as did china and you see the growth in those economies is really hitting crescendo. South korea is an industrial company. By buying that, i get exposure to samsung, which had a terrible year last year, better this year exposure to lg chemical, i get exposure essentially to 20 basic industry and cyclicals so while i key keep my technoloy exposure, thats why i like it the idea came out from a certain Pro Football Team owner in one of our conversations but thats why i like that so i was looking for the emerging markets chinas not working as well because of what were seeing going on with the administration and, to joes point, i agree at some pouint, relations an this is the other catalyst, but with china and germany, theyll normalize what weve seen under the current administration, which would be good for trade. So, yes, i think there are opportunities outside the u. S. To make money. So, bryn, are we going to be having this conversation eight to ten months from now saying that we should have gone more into areas outside the u. S. Or do we think the u. S. Is going to be the outperformer next year, just out of hand because theres going to be so much pentup demand here that thats going to drive this market higher yeah, i mean, you may be having the conversation. I dont think were going to be investing there. I do think, you know, to steves point, south korea is interesting for all the points that steve laid out. You also have samsung i believe is 22 of that index, which could definitely give it a tail wind i think the one thing you have to separate emerging markets versus developed economies i think that europe, japan, which make up the lions share are structurally flawed economies. But if you do have the economy improving globally, you could get more commodity, more materialdriven economies do well, which lend itself to emerging markets but at the same time, those emerging markets arent going to get the vaccine as quick as we are. So i think that the u. S. Is still where you want to be heavily overweight because technology is the epicenter of where growth is and that is in the usa. So i think if you want to buy secular growth names, youll have to stay in the u. S. I dont know, brenda. Why wouldnt parts of asia outperform the us, whether its korea or china for all of reasons that steven and joe just said. If you have countries that dealt better with the virus. They just did. Theyre back on the road to recovery faster than we are. They just are. And if you have a president elect biden who becomes president and says i dont want any more tariffs on china, isnt that going to be beneficial to the chinese economy . Isnt that market going to do potentially better than the United States . I think it certainly could and if nothing else, it will certainly improve sentiment about investing in china if we look at where we can invest dollars in the world and where there is innovation happening . There is a ton of innovation in asia and in china and so i think thats an area in the market that shouldnt be ignored. We currently have an overweight to emerging market, which is level dominated by china we continue to think thats an interesting part of the world to invest in and have been allocating dollars there everybodys looking for value, wherever they can find it our headline guest is a big believer in value trade. His portfolio was up 17. 5 in vote through a highly con sen ce strategy its the first time weve seen in in at least a year it feels like i hope youve been well. Good to see you again, too, scott. This strategy of yours. I say concentrated thats an unity statement, okay . If i look at how you do things, youve made seven trades this year, you normally do five in a year in 12 years youve literally made a total of 60 trades. Well, youre not going to beat the market by looking by the market so we take a best ideas approach and we still have 30 stocks in the portfolio. If you look at the Academic Research on diversification, if you own 30 different stocks in a portfolio, youre getting almost all the benefits you would get from a much larger portfolio of 100 or more stocks youre a Value Investor obviously. This rotation weve seen, is value getting its moment in the sun or is it going to be fleeting yeah, i guess thats the big question and a lot of it depends on what youre calling value and with our clients weve been making this important distinction between value stocks and value indices. The value indices have been absolutely terrible. Theyve been underperforming for 14 years but value stocks have done far better than that the big difference is when we talk about value stocks, were talking about the cheapest 20 of the market. And you think the s p 500 value index would be Something Like that say the hundred cheapest stocks in the s p 500 those hundred cheapest stocks are in the s p 500 value, but so are about 300 more stocks. Theres almost 400 stocks in the s p 500 value index. So you dont really get value stock returns from the value stock index. If you look at how value stocks have done, they did great coming out of the financial crisis. They had significant outperformance for nine years from 09 through 17 they beat the s p by 175 percentage points. Now 18 and 19 and for three weeks this year, they were definitely out of favor, but value stocks have been working since mid march and its only recently that the value index has started to work. So i want to stay on this theme before we get into some stock picks and what you like. One of the members of my Investment Committee just bought the u. S. Value etf recently. I want brenda to tell you why she did that and if that plays in your same sort of stay away from those strategies and if not, why brenda, the floor is yours sure. This etf is an s p 900 value, which has a lot more exposure to a broader range of market caps within the traditional val aal defined by indices we structure our portfolio with asset components so often we do see a big shift in leadership like we expect we could see and have started to see more recently, its a lot of stocks the Asset Managers dont necessarily want to own that end up participating in that rally so we pair active and passive together we would agree with the s p 500 value. Its a little too concentrated for us especially in nation like Berkshire Hathaway but we chose the 900 value. Professor wellington, what do you think of this purchase i like it in theory in practice some of what youre hoping to achieve im afraid may not happen the s p 900 value while i think better than the 500 value, its still a capweighted benchmark so its almost the exact same as the s p 500 value. I think if you were to run a chart of one versus the other, youre not going to see a lot of gap between the two performance lines. The cap weighting still is going to put almost all that index in the s p 500 names and very little in those incremental 400 names. And then again,if we just look at the history, and i dont mean to pick on s p, all the Large Cap Value indices have this issue. It just how theyre constructed. But you could have made the perfect call and said, you know what, on march 18 lt of 2020, this has gone on too far low pe stocks have sold off and im going to go all in to value. If you bought the value index like the s p, youve underperformed since then by 12 percentage point but if you just bought, say, the cheapest 200 stocks out of the largest thousand, youve actually outperformed by 27 percentage points. So you could have made the right call, but if you did it with the wrong instrument like these Large Cap Value indices, you didnt get the results you hope to achieve thats interesting. So, again, because you run such a concentrated portfolio and you are way more selective, i think its fair to say than perhaps the average investors, what sort of screens do you use to find the stocks you like the best so we look at Something Like the lowest pe stocks we have a slightly more sophisticated approach, which is not to just look at next years earnings or the year after that. We look at fiveyear forward earnings so we can incorporate epments of growth as well and when we do that and we look at the cheapest stocks, our first reaction to looking at that list is, my god, what a pile of junk you never want to look at the components of any value index. Youre not going to like what you see. Most stocks are cheap for a reason if you sift through them carefully, what you find is buried in this big pile of junk are a bunch of gems. Thats our approach. We try to sift through all the junk and find the gems theres cheap companies that not only downsee their earnings killed by the pandemic, earnings came out better in the pandemic. Theres enough gems out there. We couldnt build a 50 stock portfolio or hundred stock portfolio but we can build a 30something stock portfolio out of some of thievese gems lets talk about exactly what weve found. I want to get through ameriprise financials please tell me why that fits into this category scott, we dont love banks but we do own a bunch of other Financial Services companies ameriprise is an asset and wealth management. Its not a credit risk company theyve grown their earnings over the last Economic Cycle at Something Like 13 the s p 500 hasnt even grown at 5 during that time. You have almost three times the growth and yet it trades at half the price. Its around 10, 10 1 2 times earnings today i believe and the markets up around 24. So heres a great example of a gem. This is a good company youre not giving up growth. Its got good growth its a nice capital light, high return on capital business, lots of cash flow and you can get it at a really discounted price this is not the kind of crappy company youd expect to get at less than half the market multiple so tell me about whirlpool, which is number two. Whirlpool business took a big hit after the housing crisis but even with all that, if you look over the last Economic Cycle going back before the housing crisis, theyve still grown their earnings at 7 a year, which is again a bit better than the s p 500s, 4. 8. So its had good growth. And this is a stock that actually ameriprise, too, they both sold off more than 40 whirlpool al whirlpools earnings are coming out ahead. This is a company that keeps getting better, expanding their margins and people, spending money on their homes, which includes upgrading their appliances im also wondering about a new administration and tariffs and things like that tariffs did not have a great effect on or i say a positive effect on whirlpool. We saw prices go up in terms of their products tell me about Dell Technologies as we continue to move this is stock number three yeah. For old time sake, i think i talked about dell the first time i was on your show eight years ago. Since then it went private and came public again. Dell is another example of a stock that sold off more than 40 at the lows. Their earnings are again coming in higher than expected because people are spending on pcs, theyre buying more laptops this year, as well as they have an 80 ownership stake in a Company Called gmwear, the leader in virtualization if you track utility the value of vmware, its about 1. 5 times earnings we think that business is better than hp but hp is up more than 7 or 8 times so thats more than a trimming of what that business should be worth. All these companies are all up over 100 since the bottom and they all trade between 10, 11 times earnings, less than half the market multiple and two of them, whirlpool and dell, have had earnings come through this year in spite of the pandemic hyper than where estimates were on january 1st these are good companies, not overly exposed to the economy, executing very well. Again, you can buy them at discounts of less than half the market multiple. Let me ask you lastly its not that we discussed it or i know if you own any of these things what does someone like you make of where energy is now as some very well respected technicians on wall street such as jonathan krinski, who we have on the show quite often, i dont know if you follow him it or not but many people do. He says energy has turned the corner are you looking for stocks from in a sector that fit in your screening . Energy is tough for us to invest in. The volatility of the commodity is a challenge there that said we own two stocks in the energy sector. Both i believe are best in class in what they do. One is eog, which i think is the best in class operator in us shale and the other is sun corps, which we think is the best in class operator in the Canadian Oil Sands i think current oil surprises are still well below what they need to be we can see evidence in the complete collapse in drilling activity this year as oil prices have been too low to justify drilling the thing about drilling is we use it up. The more we consume, the more reneed to r we need right now. Supply isnt growing as supply and demand come back together, we think oil prices will continue to go up and that we need to be somewhere in the 60s probably to be high enough for companies to spend again and have supply meet demand. Interesting so we like these two companies, they have low costs of operation eog is profitable this year and they also have very healthy Balance Sheets to endure these difficult times that are going on in the oil sector i appreciate the time its good to see you again up stay we you stay well well talk to you again soon andrew el wiwellington of ly. This year has proven to be work can be done from anywhere, any time, fanyplace corre correctivity has been critical coming up, register at cnbc events. Com work spotlight. Were back in two minutes. Im dominic chu. New York Governor Andrew Cuomo said he may shut Indoor Dining at new York City Restaurants if the hospitalization rate does not stabilize within the next five days. The u. S. Putting sanctions on 14 more chinese officials for their alleged role in moves against prodemocracy legislators in hong kong. And mike pompeo says venezuela was, quote, a political farce and t and the 012 jets have reportedly fired their defensive coordinator, following this lastminute play against the raiders. The allout blitz cost them and the team the first win of the season the jets are the only winless team left in the nfl this season scott, i know youre aware of this but jets fans are saying maybe secretly this gets us trevor lawrence. Secret . No need to be secret i was trying to be nice no need bryn, you bought taiwan semi last week. Tell me why. I think pete owns that why are you in there now i bought it around 103 last week i think its got a nice tail wind the reason i bought it is it had been basing it out for the last few months, had a good november like all other stocks. I think with apples enough m1 chip, which is a game changer. Semiconductor makes the chips for apple. I think going into christmas and early next year as apples pc sales increase, i think it will be a good tail wind for taiwan it may be a shorter term trade but has good tail winds going into Christmas Joe terranova, you sold home depot. Why . I did ive owned hope depot since the early part of may around 220nd clearly posteaearnings for home depot and lowes, i think theres fatigue beginning to set in stephanie should be congratulated. She was earlier to get out of home depot than i was. Its represented in poor price performance. For both these stocks its in need of a pullback i got out of that on last thursday do you think the best of housings behind us . Its a great question i think certainly in terms of price itself we are at the ceiling. Inventories remain incredibly low, very challenged, so lower price point houses, yes, theres going to be Strong Demand and turnover for that, but i think above a million dollars, that pricing has clearly hit the ceiling and i do think that will Impact Housing and the secondary type of investment you would make based on that we mentioned our call of the day, it is boeing, upgraded to a buy, price target doubled to 300 from 150 they cite travel restriction, relaxation, max getting back in the air as one of the other cat li catalysts as well. Brenda, you own it and youve been looking to some of these catalysts. Here we are and we just bought the stock three weeks ago. Theyve had this phenomenal move at this point we do need to see some real more progress towards a recovery in order to compel the stock much further ill say the analyst price target is at 300. Its still facing a lot of problems, the 737 max, it wasnt at issue when it was able to achieved a 300 price point. Can you help our viewers maybe understand both fundamentally as a Portfolio Manager and emotionally a stock u up 40 in three weeks. How do you deal with that . Its enormous but this was a stock that was really down and out for a long time. One of the reasons it gave us confidence and baelts steats stn and also we have not owned boeing in the last ten years, but we have not participated in a long time. We figured this is a due opoly, that business would eventually come back. Thats what gave us the confidence to step in. I think it was underpriced at that point but now here we are 40 higher and i do think that now is where the rubber starts to meet the road and we need to see some fundamental progress in terms of Free Cash Flow really being the major determinant at that so we need to see that Free Cash Flow is improving and we need to see, you know, more visibility into what next year and the following year are going to bring in terms of restocking the backlog. Interesting great timing on your part for certain. Lets stay on the airline theet. Rahel solomon has some more calls. Southwest, 59 a year with the vaccines on the way, the firm sees travel Piper Sandler lifts lyft to 46. American express initiated with a 125 price targ petarget the firm seems plenty of growth in u. S. Consumers and Small Businesses and seaport initiating with square, visa and mastercard it most bu its most bullish on square. And visa and mastercard are seen as beneficiaries ended up in cash im glad you ended there because i wanted to say to you, weiss, you like visa over amex to begin with but then this. Yeah, so, American Express is more levered to the Business Cycle and particularly small Business Cycle i just dont see that coming back as quickly. I see it continuing to be under siege. I also like visa and mastercard because i dont own them square is too expensive. Jumia is growing at 100 a year. So i got that covered. I just see no reason to step back and go to American Express when visa is such a core position for me at this point and worry about the Business Cycle. Does anybody own axp . No one does. Joe, you used to, bryn, you like it but nobody owns it. Why, bryn . It came up the other day when kevin oleary was talking about it i think its a really interesting play on the recovery but a couple things have to happen you have to get back on the airline. Im on a plane every other week, on southwest airline you have to have Big Companies start allowing their employees to start traveling and use those amex cards again i believe with steve this is a Business Recovery play i think you have to have the Airlines Start moving higher because youre getting real traction but i havent heard of any of my friends that work at companies that their companies are going to let them travel any time soon. If i start hearing that, i would be interested in American Express. I think thats a great entry point. You need to see these companies letting people get on airplanes and they think its too much of a liability at this point. It will take a while for business to get back a big weekend, airbnb and the half is back after this. No one likes to choose between safe or sporty. Modern or reliable. We want both we want a hybrid. So do banks. Thats why theyre going hybrid with ibm. A hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. From banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. Find a stock basedtech. On your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. And welcome to the etf edge portion of halftime report. A week for ipos, big we go with airbnb and door dash going public special purchase acquisition vehicles or spacs as they are known. Kathleen smith runs the Renaissance Capital ipo etf. Paul is etfs head kathleen, its a stellar year, 194 ipos raised 64 billion why have they done so well well, it may have been one of the worst years regarding covid but it has been one of the best years for ipos certainly its helped by low Interest Rates and the ipo market works on returns and returns are the fuel that drive the issue intense, the returns have been very good, as you mentioned, our etf example, the returns for investors and the market have been quite good. So weve just seen a rush of ipos, an avalanche, more balancbillio dollar ipos than weve seen any other year in history. And were going to see the biggest of airbnb and door dash come out this week and others still set to price before the year is open paul, spacs raised the same amount of money as ipos, 200 raised about 64 billion why did spacs take off this year what are the prospects for 2021 . Its a great question its really about the quality of the companies that are actually choosing to go via spac. If you look at Something Like draft king last year, these are clearly Companies Investors have interest its about the quality of teams that are sponsoring spac bill ackman is 4 billion guerrilgril gorilla that people are talking about. Its showing a sharp commitment for 2021 future growth what are the hot ipos coming that may happen in the next few months we think some of the biggest clue stripe, mobile payments company. Thats is a 36 billion private valuation but targeting 70plus billion. Waymo, instacart grocery and delivery got 17 billion and we think elon musk spacex privately has valuation of 46 million. Kathleen and paul will go deeper into the market on etf edge cnbc. Com joining us next, a member of cnbcs wlneless counsel. Looking forward to that. Back within just 30 seconds. Joe, you bought docusign earnings were released. We had a very thoughtful conversation last week and jim cramer was included in that as well but the earnings for docusign came out. They were clearly very strong but you have to Pay Attention to price and price is not working consistent with those earnings so risk management, scott, becomes your focus you need to place a stop and thats exactly what i will do. I will place a stop below thursday low at 215 to exit the position to tell me where my point of reference is to identify fonpotentially this stk is experiencing fatigue but i think it important from a risk manage men perspective to have that in place. To clarify, youve owned it for some eight months. Cnbc is part end in with acorn on a Financial Wellness initiative called invest you in, ready, set, grow acorns and Junior Achievement are partnering to bring teens from around the country together with a panel of experts for a live Virtual Forum to discuss economic disparity in america. One of those experts, Akbar Gbajabiamila joins us. Its good to see you again i hope youve been doing well. Ive been doing good. Big event tomorrow. What do you hope to get out of it i just hope to get a conversation going i think thats probably the biggest move in this whole partnership is being able to get to the youth, especially at a young age. I think especially when you think about americans and finances, you think this is probably the age group as were opening this discussion up to 13 to 17yearolds. These are going to be our teenagers that were going to be having these conversations but were trying to end this cycle of misinformation as it comes to finances. So were trying to make sure that we, you know, narrow that gap when it comes to the racial, ethnic and gender barriers that a lot of these americans are facing, especially in certain communities. Were proud to be a part of it and its so important and you dont realize that at that age that you just talked about, those folks are talking a lot about it themselves. These numbers dont lie. 61 in a survey believe people in our society are paid less based on race, ethnicity or gender, 69 believe people have a harder time getting Financial Support to start a business based on race, ethnicity or gender, and 45 , akbar, of respondents felt that education is the top way to address a lack of economic opportunity, followed by chajinging the laws business reforms and reparations. What do you have make of that . I think thats great. I think what we do with that data is promote the conversation and then have the education because i think once you have the education around financials, thats when real change starts to happen because you start to understand how some of the systemic laws i go back to i think a lot of people are familiar with the red lining and just thinking if you know back then, you go back rewind back to that time period and if you knew about red lining and how it was systematically built into the laws and into the contracts, then you would be able to undo o get to these teenagers is we have a full panel and we have, i mean, experts from all over who are going to be diving in so these kids can ask whatever questions they want. They are free to have the floor and really to be able to explore how they can make a change because ultimately were investing in their future. We talk a lot about income inequality but what we dont talk enough about is opportunity inequality which if you can help solve that you help solve the greater issue is testify. Yeah, and i think, you know, i think about my upbringing and i think about, you know, some of the opportunities that werent afforded to me i think some of the opportunities that werent afforded for example, i think about the education disparity, and i think growing up in my neighborhood i wasnt able to take my books home thats just a small portion. Well, my counterparts down the road, down the street, they were able to have that access they had the access to, you know, the best tutors, and they had s. T. E. M. Education and all these Different Things that werent available to me in my neighborhood now were starting to talk about opportunities, and those types of opportunities even being within close proximity, close proximity to people who have influence and close proximity to those with those opportunities i think just being in that same space allows you to be able to capitalize on it, and i think thats ultimately what were trying to do is erase that divide so we have more opportunities and more equality. Glad youre a part never ours in this important effort thank you so much. Good to see you again. You be well. Thanks, cars akb coming up next, how features are playing next on the half. The usual gifts are just not going to cut it. We have to find something else. Good luck what does that mean . We are doomed. [laughter] thats it. I figured it out were going to give togetherness. That sounds dumb. Were going to take all those Family Moments and package them. Hmm. [laughing] that works. Father lets do our futures outlook. Natural gas getting crashed. Lowest levels since october. Jeff kilburg of Kkm Financial joins us now with the trade. Where do you think its going from here . Down 6 from today weve seen panicked selling absolutely 32 lower in the beginning of november 20 lower in the last three trading sessions but you are see a shift in forecasts the old weather man was wrong. Were seeing warmer trends, warmer than usual so when you see open interest above average. Thats when you see panic selling. Panic selling creates opportunity. I want to be a buyer i want to be a pier at 237 with a target up 40 to 2. 77. Just ten cents lower at 227 so im risk 1,000 to make 4,000. Md and bama, is that how its going to end up . In go, irish i think its our year. Hri teanghat a lot from the notre dame folks take care you bet. Coming up, well do final trades. For skin that never holds you back dont settle for silver 1 for diabetic dry skin 1 for psoriasis symptom relief and 1 for eczema symptom relief gold bond champion your skin heart monitors that let your doctor watch over you, just like you watch over your best friend. Another lifechanging technology from abbott, so you dont wait for life. You live it. Gang lets do final trades. Brenda, youre up first today. Cvs health, a company often overlooked really evolving with the rollout of health hubs which should help Lower Health Care costs and on top of that they will be participating in the overall roll youth vaccine as we like it here. Probably some vaccine play somehow. Bryn, what do you have for us . Arkk which is ark invests big fans of the team and if youre looking for a big portfolio concentrated around 35 names, the team is doing heavy lifting of finding Disruptive Companies across sector and we think its a good longterm investment. So you think tesla is going to 8 million a share or whatever they do over there, too . Maybe 8,000 i dont know about 8 million. You dont own tes larks do you . I own a big position in ark which is the number one holding of tesla they own around 15 . Like a proxy for extesla. Thank you for that joe, what have you got stephen weisss is going to like this, a little buy high and sell high, todayine, a name performing very well. Steve weiss, first of all, thank you, joe moderna. The stock is having a good day today and will have a great week i think 200 is the past of least resistance right now when you get their approval for the eua thanks, everybody the exchange is now. Thank you, scott hi, everybody. Welcome to the exchange. Im kelly evans, and heres whats ahead on monday the rush to the exits. Airbnb and dore dash are leading the ipo frenzy as year end fast approaches, but which have been the better bet this year, ipos or the new kids back . Dont seld your gold one wildly followed Economist Says dont be worried about their weakness and intel cant catch a break. A wall street lift and million
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