Brickandmortar names on the endangered species list. How can you invest in that comeback as well . Plus the need for law and order seems to help President Trump. The new numbers that have him in a deadheat with joe biden. Just how much keeping schools closed will hurt the economy . We have the data behind the 15 trilliondollar answers. All that and so much more on making money. Charles dave asman told you stocks are soaring after three days of step selloffs. You remember august and then the dazzling fall. We have mark tepper, phil blancato, and bull tick Capital Markets strategist, Katherine Rooney veer a i will ask everyone, but i start with you, phil. Is the worst over . No it is not. We have a lot of volatility to come. Election cycles will do that. High valuations will do that. Astrazeneca announcement put concern on the vaccine hunt. I think we blind higher and there will be fits and starts. Charles to we retest the low from yesterday or sort of volatility is here to stay. I think volatility is here to stay. I like 10 correction. A god brush fire in the market is healthy. Want to wipe out some of the charlatans and get it back in line. Retesting low. I think well go further than that, maybe five even more. As we bet lumpy news on the vaccine front. But grind higher. Data comes in and things get more euphoric towards the end of the year. Charles katheryne rooney vera, you say if we do go lower watch out for the fed to the rescue. Yes, charles you know me by now. Phils right but the message i would like to convey to your audience, there are a lot of guys that have a ton of cash on the sidelines. We saw the cash roaring into the markets today, that shouldnt be a surprise to many people. When there is a comfortable correction, three to 5 , you should expect to see the cash in breathless anticipation baiting for its chance to get in. As it continues to correct i think you see the heavy hand of the fed to come in. Guys with a ton of cash on the sidelines, stick with the plan. Structure of asset allocation. Dollarcostaverage, little by little, without emotion, without fear, without greed. We have to try to be methodical. I agree with phil, volatility will come and go but the general trajectory i think will be higher. Charles right. Mark, your theory is that pullbacks are buyable in uptrends. Weve certainly been in an uptrend. Yeah, yeah no doubt. We define an uptrend when you have the 50 and 200 Day Moving Average when theyre postively sloping youre in a strong uptrend so pullbacks are buyable. Phil mentioned 10 . Okay, that is important because whats typical after a huge rally off of a major low is a 10 pullback. So that would take the s p to somewhere in that 3200 to 3250 range. Were right at around 3400 now. Five away from alltime highs. I think you continue to see a little bit of consolidation. If you think about it the market was way overhe can extended. I think it needs to correct a little more and september is typically a very weak month. Charles talk about this rotation theme. It was big in august, although as much as we talked about it growth never really relinquished the leadership role you about now that these big growth names show they come down quickly. Kathryn, you talked about the barbell approach. I assume all along youve been talking value and growth. Now we see they can come down as fast as they go up is there a preference where we lean more, maybe towards value yet . I think that there broadening out is the right method of looking at it rather than a rotation of broadening out. I think thats right. What you want to be doing, if tech sells off 10 . That is great opportunity. Get some tech. Also have utilities position, have a golds position. Have a tips position. By married put option. Buy the s p when it drops 5 . You buy the put options either simultaneously or later in the future date but you want to have that protection, charles, i think because, you know, if things to up really fast they can come down really fast. Charles right. A lot of this charles, retail flows. Guys chasing value when it is already run amok. You have microsoft, apple, retail money flowing in. It can flow out just as quickly. Charles mark, i dont think youre in tech but you do have some names youre looking at here. We are in tech so were overweight tech. Charles i mean youre not buying tech on this dip, right . We are not buying tech right now. So actually i bought a few companies this morning. I added to positions. I bought Penn National gaming. I bought stamps. Com. Football is coming back. When it comes to Penn National it is a play on rapidly growing Sports Betting and Online Gaming market. Right now that is two billion dollars a year. We expect at that to 10x over next 10 years. Youre able to get in on the ground floor. States beginning to legalize Sports Betting. Charles right. The biggest betting right now the barstool sports book app is rolling out. Bar stool they have a bunch of regular users to come along with it. Charles certainly. The dave portnoy effect has not hurt them. I love stamps. I am getting waxed in it. I think it is most undervalued stock in the company. Phil youve been also advocating this barbell approach. What is interesting when the market comes down like it has in the last few days everything goes down so how do you tell someone, hey, this barbell approach is the right way to go when you might miss the big gains in tech on the upside and all of your stocks go down when they all go down . Because you have to have a belief were getting out of this. If we get out of this, out of recession, what will win, first off midcaps. Underloveed sector. Look at midcap space. Load up there, really win when we get out of recession. Value is still underperforming growth. For that reason i think were out of the recession with a vaccine sometime early next year. In that case you will win buying the names that are cheapest. Take profit in growth. Rotate grow growth tilt. Catch what youre talking about. Take profit. Be a good portfolio manager. Midcap, you love it on other side of the recession. Whirlpool is right in the middle of that. I really like. Say that again . I like name like a whirlpool. Think of brickandmortar companies to your point later on i can buy and own the next 12 months and be happy i did. Charles i love whirlpool. Been in it for a few years. Sherwinwilliams. Same story. Love it. Got upgrade today. Both stocks are soaring. Intriguing news, want to get your opinion. Found out Warren Buffett taking a gargantuan stake in a Cloud Company called snowflake. When this company ipos. There is something Warren Buffett hardly ever does. Mark, does this sort of add credibility . Obviously a hot industry. When you get Warren Buffett jumping in there, should everyone have exposure to the cloud space . It is about time berkshire is getting into the cloud. That is where the future is headed. Youve seen probably a decades worth of adoption get pulled into the course of six months. When you look at the crowd, when you look at data, thats what everything is abut right now. The most valuable asset any company has is its data but that data is absolutely worthless if you cant analyze it. Because if you cant analyze it, you cant take action. When you cant take action, you cant make Good Business decisions that drive profitability. Charles yeah. Accumulating that data, Artificial Intelligence and then disseminating it all in the cloud has been huge. Kathryn, i want to give you the last word. Warren buffett has done listen, obviously he is an amazing investor but more recently folks think these are the younger guys he is bringing into the operation more so than him but does it give spaces, Cloud Computing area just that little bit extra cachet . It does. Lets also remember Warren Buffett also dabbled in the energy space back in july with a purchase in alerion. That has underperformed since. These are important topics to discuss. But lets look outside the country. Emerging markets have a very high carry and a lot of return. If were looking for return in a low Interest Rate world, i guarranty the flows are going to be headed that way. So beyond u. S. , lets start to look at returns in the emerging space. Charles all right. Lets leave it there. Mark, phil, kathryn, fantastic stuff t was really helpful for the audience. Thats what we want. Folks, joe biden pitching a tax plan he says will help bring jobs back to america. An owed to President Trumps make America Great again pitch, biden says he can actually do it better. President trump keeps touting his law and Order Campaign as he tries to close the gap with joe biden. Guess what . There is new evidence that is indeed working. President trump instead of standing up to the far left rioters, biden condemns Law Enforcement and condemns america. Didnt even mention the words that we love and respect law and order. So you only pay for what you need . My chair. And my phone. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Riaccelerate your investments to be is or pull back . Een. Change the plan or stay the course . Thats why Northern Trust is here. With specialized expertise. A history of success through every economic climate. And proven strategies rooted in data and analytics. Giving you more control. Clarity. And confidence. For now and whatevers next Northern Trust wealth management. Charles joe biden laying out a tax plan that he says will help bring jobs back to america and keep them here. Jackie deangelis is live with the details. Jackie. Reporter good afternoon, charles. Well, thats right, joe biden speaking in michigan today. Remember it is the manufacturing heart of america. He is talking about Corporate Taxes within the context of jobs coming home. Listen to him. He promised that his administration would enforce every last buy in america provision on behalf of the american people. What makes his wild claims and hopes, he now hopes we dont notice what he said. Reporter okay, so biden wants to roll back the trump administrations Corporate Tax cuts to bring the rate back to 28 . But he also wants to impose a 10 offshoring penalty. This is where the jobs come in. Which means if a Company Takes jobs out of the country it pay as penalty. A corporation could pay as much as 38. 4 . He counters that with a tax credit if the Company Brings jobs home. There will be executive orders focusing the federal governments purchases power on American Products and americas supply chains. Michigan is significant because its a swing state. President trump won the state in 2016. All six regions became more red in 2016 and middle and thumb flipped to red. In 2018 dems swept statewide races. Shows the state is very much in play. What biden is trying to do is actually push a trumpstyle agenda. Trump focused on manufacturing, bringing jobs back through trade, through regulatory policies and by undoing obamabiden era environmentally driven policies that made it difficult and expensive for corporations to do business at home. The critics today however are saying how biden is going about it through this punitive tax push could actually depress growth and hurt businesses in the long run, charles. Charles it is always debate over the carrot and the stick especially if youre raising taxes anyway. Jackie, thank you very much. Always appreciate it. Joining us with reaction Republican Pennsylvania congressman guy reschenthaler letter. Congressman, its obvious the Biden Campaign sees how well President Trump did with the make America Great, bringing back manufacturing, taking china to task. All of those things obviously resonating particularly with bluecollar workers. He is jumping on the bandwagon here. Well, charles, thanks for having me on, i appreciate it. Please just call me guy. Imitation is the sincerest form of flattery and you see that from joe biden. If you just look at his tax plan, if you just peel it back, you can see it is really bad. It would be really bad not only short term but long term. Joe biden wants to increase taxes on 80 of the American Public. He wants to raise the Corporate Income tax. His administration would likely increase regulation which from an economic point of view is just another form of taxation. So what we need for this economy we need more of the President Trump style plans of reef us doing taxes, reef introducing regulation, and Holding China accountable. Charles it would seem to me also, just in the last 10 years this massive wave of that these state has say, listen you dont have to join a union would underscore the fact that historically joe biden and the Democratic Party have tried to force workers into these unions and saying that is the only way you can get a pay raise, when in fact manufacturing workers in places like alabama are gainfully employed making a lot of money. Heck, you want to own real estate in huntsville, alabama, more than any other place in this country. I see those two things being at odds with him, being so indebted if you will to unions. Biden is losing union support, at least trade union support. You saw it at the rally last week in pittsburgh when the boilermakers came out to endorse President Trump. The reason theyre voting for their livelihood. Theyre voting for their paychecks. They know if joe biden and Kamala Harris come in to ban fracking, that is their jobs. Trade unions are actually supportive of President Trump. They know President Trump will be very good for the economy, especially as he leans forward on natural gas and joe biden wants to ban fracking. Right. I mean, the union heads obviously in bed with the democrats but the rankandfile workers have certainly defected. I do want to ask you, i have only a minute yet. A poll in your state, finds President Trump and joe biden are now in a tie. What really made the difference this one issue where voters are saying restoring law and order. I think it is number three, but the distance between the first and third is really minimal. All of sudden this is a big issue. Something President Trump highlighted at a rally last night. I want to share it with you and the audience. Take a listen. We want law, we want order. Biden is fueling the violence with his relentless attacks on police and constant slander that america is racist. Charles quick response. How much do you think this will impact the general election throughout the country . It will greatly impact the general election, charles. People do not like this chaos, this lawlessness. They know President Trump stands with the police and for order and safety. Those violent protesters, those antifa members, those are joe biden supporters. Joe biden has yet to call out antifa by name. He has yet to call for a stop of this violent rioting and looting. Charles no. Weve seen some unnerving images, particularly of people eating at restaurants, stuff like that. When you do that, youve lost a whole lot of people, particularly in the suburbs. Congressman, thank you very much. Appreciate it. Thank you, charles. Charles coming up folks, Top White House trade advisor Peter Navarro will join me how the administration is Holding China accountable while helping the american worker. Kids across the country heading back to a virtual classroom. How much are School Closures costing the economy. I have a shocking number for you. You wouldnt believe it. It is next. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Charles breaking right now President Trump taking a tough stance on china and its unfair trade practices just a short time ago the u. S. Department of agriculture unveiled the seafood relief trade program. Its a program aid to help u. S. Commercial fisherman impacted by chinas retaliatory tariffs. For more on the program, im joined by white house trade advisor Peter Navarro. Peter, tell us about this one . You have the trump navy out in the seas off the state of maine, off new hampshire, where they get all the lobster as well, and off the coast of alaska. Here is the deal, charles. We know that back in 2001 joe biden let china into the World Trade Organization and they just ravaged this country. Donald trump comes in, 2016, says i will crack down on china. What did he do, put defensive tariffs on to protect our industries, bring china to the bargaining table. What did the bully do, Chinese Communist party do . They went after our farmers and fisherman with retaliatory tariffs. President was up in bangor back in june. We were with a round table in fisherman, they asked for three things, tariff relief from europe, tariff relief from china and made whole from all the bullying that china did. We did the first two things quickly. The europe thing was amazing, getting europe to go to zero fair riffs on lobster, that was the one of the greatest days in the state of maine. You can imagine. Sonny perdue announced a half a billion dollar program. It took a litt