Wake of tragedy. Charles joe biden is there right now as we look at 2001 and why we came together back then and just why now we seem to be tearing ourselves apart, all that and so much more on making money. Charles its been a rough couple of weeks for the market which is obviously more vulnerable now than its been in months, on this solemn day for the nation, the stock market itself has to pass a big test, but, you know, the situation is the s p 500 has to hold above the 50 day moving average. I will say Technical Analysis is not an exact science, so a slight slip below is forgivable, but when it does hold, you know, historically it revives the sagging rallies and we get a big move to the upside. The question is of course what will the upside look like . Will investors seek out the same names that obviously before got too close to the sun or is it time to find new opportunities . Lets ask rob luna, ceo of a Financial Company and on the phone with us Capital Wealth Planning chief jeff [inaudible]. Rob, let me go with you first. Listen, we started pulling back last week. You had a couple of rally attempts this week, all sort of halfhearted, and it feels like the market is sort of grappling here. We know the sectors that are winning even today, they are not big enough to carry the entire load, right, so materials are up. Industrials are up. Thats fine. But they dont have to but they dont add the weight to these major indices that demand is coming down. They dont have the weights but also dont have the top line growth to get investors excited enough to continue to bid those names up. I think Going Forward it is going to be a replay of what we have been seeing, charles. It is going to be the stay at home names. It is going to the names that we have been talking about the bifurcated economy, the haves and havenots. Look what continues to do well, restoration hardware, peloton blowing the numbers out the door today, i think youve got to stick with those names that are really gravitated towards the consumer thats doing well and also are able to provide the top line growth. Use this opportunity to look at names like zoom, docu sign that you might have missed the boat on because a year, two three years from now those names will lead this market. Charles at this moment they are having a lot of trouble sustaining upside moves. Peloton was up 11, 12 bucks, now it is down 2 or 3. Lets bring in jeff as well. We know you believe theres a longterm secular bull market going on, but you always remind us there will be pullbacks from time to time. If this is one of those times, how much down side should we expect . Well, our shortterm proprietary model flashed to sell signal 3 1 2, 4 weeks ago, we wrote about it, told people to raise a little cash, weed out. So of their weaker holdings. How low it goes, charles is unknowable. I hope were able to identify it. When you get markets like we have seen the past three or four days where they go up big, come back down big, up down, up down, they are trying to form a bottom, whether thats the case here or not, you know, well see in another week or two. Charles all right, well, rob just talked about some of these winners, these stay at home winners. We also call them momentum darlings. They have done exthe record frh extraordinarily well. It feels like many of them reconstituting their buy thesis. Tesla, were being told take a look at this, on september 22nd, they have the battery data that will be phenomenal. Their share price target today was doubled. Is this one of those where those names that have been big winners need to give us another reason to stay long i dont think so. I think the players will go back to the same girls they danced with in the first leg of the secular bull market. We went from 666 on the s p 500 to roughly 3300 i think that was the first leg. Secular bull markets usually have three legs. The second leg is usually stronger and longer than the first leg. If we started the second leg in march at around 2300 on the s p, on a measured move, you could go to 5,000 in the second leg before you get another decent pullback and then you start the third leg or speculative leg. Charles you had me at [laughter] charles rob, on the s p i will take that for now, especially today. You take a company like tesla, also theres a report out that probably will start to export those model 3 cars that they make in shanghai over to asia and europe, now you start to have a fundamental story that surrounds the sort of momentum story. I mean, you know, you already talked about these stay at home names, extraordinarily volatile, having trouble to hold on to rallies right now. They have to be augmented by credibility, right, the extra news stories . Yeah, in the longterm, charles, fundamentals always win out. We have talked about this secular change in this economy. I mean stay at home just being part of it. I think the longer and longer this goes, consumers psyche starts to change. My girlfriend just talked me into doing a cooking class online on zoom yesterday. Very hesitated. Did it. I walked away a believer, charles. It was greatest thing ever. I think that will be changing things quite extensively and so i think those companies are really changing the way we do business. We talked about corporations increasing their bottom line by reducing travel, all these other things. These are new companies that you have to stick with regardless of the volatility. Charles jeff and i wont hold that against you. Gentlemen, we have to leave it short today, unfortunately. We have some news coming up soon. Thank you both very much. Your wisdom no matter how short it is always helps the audience. I appreciate it. And on cue, by the way, folks, the Financial Media already playing task with this stock market rally. If you havent been paying attention, you would think the market is already at the lows of the year. When the market gets wobbly, the media and the bears seem to take these premature victory laps because in their world, you know, they always say it wont end well. The end is only when the market is down. Of course the market can go up for decades, and thats never the end. We know investors are becoming more worried with all this volatility and so i want to bring in a guy who has made a lot of people a lot of money through several of these periods, bmo Capital Markets chief strategist brian belski. Here we go, brian. Markets under pressure. The chatter is up. The longawaited crash, the beginning of it, youve heard it many times before, so have i, are they right this time . No, i dont think so. I mean, if you think about Momentum Works in both directions, and weve seen a bit of a correction here, and remember too, weve said on your program that the bears lack imagination. Theyre all picking on these socalled lofty valuations in technology, but from a funn perspective fundamental perspective the Technology Sector is different now than it was 20 years ago. It is not that its different now it just means that from a fundamental perspective the cash flow level, the earnings levels, the valuation levels are actually much different, so to make a composite type of feeling in terms of in commenting on the Technology World to be overvalued is not right. Listen, i think that bull markets dont die of old age. Bull markets die for fundamental reasons. The fundamentals of the United States stock market we think are still very strong. I still think it is the best place to be in the world. As investors in the media alike continue to be consumed with negativity, im telling you, man, when people are positive and everyones bullish, thats when were going to start to turn out to be a little bit more negative. And i dont see that coming, charles, quite frankly, for several more months. Charles no, no, ive got some theories on why that may not happen either for the next six months or years. To your point, though, right, we know the nasdaq the stocks were on autopilot on the way up, and now theyre having trouble. You talked about something really important. The fundamentals have improved, right . They keep improving. Thats one of the reasons i have been very bullish, but you do admit that you get to a point i guess when even a good stock or even a great stock can be overbought. I would say peloton, for instance. Peloton hit 98 yesterday, came all the way back to the 80s, hit 99 this morning and all the way back. It seems the market is telling us that these guys are killing it, they will probably keep killing it for a long time, but the stock itself is over its [inaudible]. I think thats a great analogy. We play lulu instead of peloton. We tend to run concentrated portfolios. We think lulu is the same type of theme as peloton in terms of the stay at home theme. With respect to the consumer in general, we think the lifestyle theme will continue as well as the mobile society. Lulu is acting exactly the same. Lulu is a stock thats had a tougher week this week and that would be a name we would be adding to positions and peloton will follow suit as well. For those investors wanting to be in peloton, we would play the same type of strategy. Charles full disclosure, i actually had my subscribers take profits on nautilus at the open, and that was one of the ways we were playing this whole trend as well. Brian, youre the best. Thank you, my friend. We have to go. All right, folks, Indoor Dining set to open at the end of month in nations biggest city. But is it too little too late to save the big apple . Next President Trump praising jpmorgan for going back to work. We have a live report from d. C. , right after the break. Sure. Okay. Okay safe drivers save 40 guys guys check it out. Safe drivers save 40 safe drivers save 40 safe drivers save 40 thats safe drivers save 40 . It is, thats safe drivers save 40 . Hes right there. Its him hes here. Hes right here. Hi hi. Hey thats totally him. Its him thats totally the guy. Safe drivers do save 40 . Click or call for a quote today. i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old im burning away you can go your own way go your own way your wireless. Your rules. 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Jpmorgan chase becoming one of the first of the major banks to start bringing people back into their new york city offices. This is going to affect the senior managers in the sales and trading divisions for them. They will start to go back to work in london and also in new york city. Now, it will happen a week from monday, on september 21st. Were not talking about a lot of employees here. Still Jpmorgan Chase declined comment on the move, but President Donald Trump chiming in on twitter, saying, congratulations to jp chase for ordering everyone back to the office on september 21st. Will always be better than working from home. In march, the company saw a dozen more than a dozen employees get covid19 inside their new york offices. That sort of sparked hey lets work from home situation. This could be, though, a sign of an economic recovery. Listen. Recovery, you know, its moving much faster than people thought. Youve got estimates now of 30 plus, atlanta fed and wall street, the v shaped recovery, the jobs reports, all thats terrific. Other Financial Institutions also moving in the direction of bringing people back. Goldman sachs told employees it will start allowing workers to return in shifts over the next coming weeks. Citi bank also sent out a survey asking employees when they would like to return here, thinking about returning in october, according to citi, Deutsche Bank also reportedly saying they would allow part of the work staff in and out, part at home, part at work, in the coming weeks once the pandemic is over. Back to you, charles. Charles edward, thank you very much. Jpmorgan, the man actually helped to save the entire u. S. Economy, not once but twice. In 1893, 1907, by gathering the financial community, even using his own money so can the company do the same for new york city . Joining me on that is our next guest. It is interesting, heather, jpmorgan is trying to get folks to come back in. We have seen these campaigns so sort of try to for lack of a better word embarrass these large new york city employers to bring people back into the city, but you think its going to work . Well, i hope it works. Look, you have 160 i believe ceos writing a letter to mayor de blasio expressing concerns about safety issues, quality of life in new york city, and urging for something to be done. They want to reopen the economy. This is a great sign that jpmorgan is asking for their traders and some of their bankers to come back to work. It is a step in the right direction, if it can be done safely. So i think the mayor needs to exhibit more leadership. Charles to your point, while jpmorgan is trying to get folks back, Goldman Sachs was one of those 150 names on that letter you just talked about. Heres the question, what exactly will de blasio do . I think we all know what he could do, like with the homelessness, dont defund the police, dont diss the police, you know, theres certain things he can do, but what do you think he will do with respect to trying to turn things around . Well, maybe b that the ceos and threats of a mass exodus and millionaires and billionaires fleeing which causes tax revenues to decline will cause him to change his behavior. If i were on the mayor, i would be getting on a subway every day with mask and social distancing and showing new yorkers that if you take safe measures you can go back to work. I think on today on 9 11 it is very relevant because we have another crisis on our hands, but very different times. That was a time when americans all came together and there was leadership in new york, and people went back to work eventually, and it was a vibrant city. Youre not seeing that today, and thats why these ceos are very concerned, and so the net result is he is going to raise taxes, and that will cause even more businesses and residents to leave. Charles yeah, you know, so interesting you brought that up. I took the train i guess they allowed us to take the train three or four days later after 9 11. Yeah. Charles when the doors opened at the wall street stop, where the World Trade Center was, the smell of death came in and almost knocked me to my knees. It was that powerful. We all got back. We all went back to work then. The stumbling block is one man, bill de blasio. Heather, have a great weekend. You too. Charles coming up mike pence and joe biden crossing paths at the 9 11 ceremony this morning. They shook hands 2020 style. It reminded us just how we did come together after those 9 11 attacks. So why cant we do that now . Lawmakers predicting no more stimulus before the november election. I say its bold and reckless, and so many people will suffer as a consequence. I will a congressman his thoughts next. An idea for a tr. Oh yeah, you going to place it . Not until im sure. Why dont you call Td Ameritrade for a strategy gut check . Whats that . You run it by an expert, you talk about the risk and potential profit and loss. Couldve used that before i hired my interior decorator. Voila maybe a couple throw pillows would help. Get a strategy gut check from our trade desk. Come on in, were open. All we do is hand you the bag. Simple. Done. We adapt and we change. You know, you just figure it out. Weve just been finding a way to keep on pushing. Charles Vice President joe biden in shanksville, pennsylvania, where 19 years ago today flight 93 crashed. The horrific events of 9 11 brought us together as a nation as we sought to defeat our common enemy, terrorism. 19 years later, our country is facing another crisis, the coronavirus, but unlike 9 11, we have moved so far apart during this crisis, and yet, you can think there is some hope. I believe we can actually put our differences aside. Take a look at this, a great photo of Vice President mike pence and joe biden sharing a moment of unity this morning in lower manhattan, and i of course think we all need more moments like this. Joining me now radio host rick unger and a fox news contributor. Rick, the two big events in our lifetime, you know, particularly in more recent years, it galvanized us as a nation, and the other, we seem to be going our separate ways more and more every single day. It is a great question to ask today. It truly is. I dont know that you and danine will like my answer. Lets look at what happened after 9 11. I have always i may be a progressive, but i always gave george bush an enormous amount of credit for the job that he did in pulling us together, the moves that he made, he really did a good job and boy did it show. He brought the people together because we knew we were all americans at that point in time. Look at us today. We are actually politically fighting over who does and who doesnt wear a mask. How did that happen . As i said, youre not going to like my answer, but the big difference to me is who was the president then and who is the president today. Charles danine, your thoughts . Yeah, charles, i put it this way, the divisiveness is coming from the radical left. Rational americans do not want our country fundamentally transformed by radical democrats and their radical policies. They want to defund the police, disband the police. They want open boarders. They want to give Health Insurance to illegals. They s