Transcripts For FBC Varney Company 20131129 : vimarsana.com

FBC Varney Company November 29, 2013

Hispanics. Charles and the version hispanic version. And why are we putting that up in they can have the engli english and the obviously ego from the white house, that supersedes everything. And said that october first, it doesnt have to be ready, but the president wanted it ready and circumvented the best ways to get there so we dont get cgi from canada. And isnt it crazy the selfimposed deadlines. The americans people arent saying give us time, give us the date. And i wonder what genius is saying december 1st its going to be ready and whats interesting the administration saying maybe, you dont want to get on december 1st. To be honest with you, with all the of the fun things that the president does with facebook and amazon, you think you would have called and said help me with the website. Charles that goes back to ego and ideology. I think all the obamacare website while its embarrassing it masks a bigger issue, the law itself and some of the things were learning from it are outright frightening. You look at it. And what exactly in the bill . And nancy pelosi said, we need to pass it to know whats in it. You cant read it unless you have a lot of time. Youre losing and making limited choices. Here is what else were talking about today. One, it could be the next pandemic, more and more superbugs becoming resistant to antibiotics. Are doctors to blame for this . Well ask one. Dr. Segal is next. Bill gates says if you donate to the arts, youre avoiding real charity, saying its immoral to give money to museums instead of medical causes. And one football coach said never punt, always go to are two and onside kicks and always works. Weve got this guy and well have that for you at 10 35. Right now though, markets are going to open today. Its a short trading session, but the sessions have been phenomenal in the past and the market keeps going up. Its been big, big, big. Weve got it coming for you. Opening bell is next. [ male announcer ] if we could see energy. What would we see . The billions of gallons of fuel that get us to work. Wed see all the electricity flowing through the devices that connect us and teach us. Ed see that almost 100 of medical plastics are made from oil and natural gas. And an industry tt supports almost 10 milln american jobs. Life kes energy. And no one applies more technology to produce American Energy and refine it more efficiently than exxonmobil. Bause using energy responsibly has never been more important. Energy lives here all right. Well, were just one minute away from the opening bell and lets bring in Scott Shellady from chicago. You know, weve got a short day, block friday and typically huge for the markets. What are you hearing . Well, you know what . This is an extra special day, its a short day, its a black friday and the month. So things are going to stay supportive, theres a one trader who told me, never sell a quiet market and theyre going to slowly, but surely grind higher and thats pretty much on the cards for this morning. Charles you know, scott, listen, every day that the market goes higher more and more skeptics come out of the woodwork and some of them are nonsense, but there are legitimate reasons to be worried and one thing that were seeing is that margin interest is exploding to the upside and more me its interesting. I dont see the volume there, but obviously, if theres a lot of borrowing and thats sort of worrisome, isnt it . That can be worrisome and those types of signals do tend to tell us that theres going to be a shortterm top to the market. List listen, weve got a Global Central Bank race, we are going to get help from europe and china, more in 2014 than this year and we see that it stalls and global will give us the next leg higher. At some point its going it end, but not yet. So with people watching the show, theyre torn and a lot of people are torn, they have missed the rally and how much is left, hearing the doom and gloom. If your opinion we sort of ride this wave . Trying to predict the top is silly. If you would have bought every top since 1929, you would have not bottom, every top . Every top since 1929 youd be very wealthy, the tops are very, very low from where we are right now. Keep in mind you want to stay invested, but slowly by surely over time dont want to put all your capital in at once and its been proven if you think youre going to try to time the market probably youre going to lose. Have a plan thats diversified, but on a monthly basis you, want to stay invested. On the floor, you guys are considered as a conduit, if you will. You know whats happening before anybody else, what does have you worried . You sound pretty sanguine right now. What were worried about, we think the feds have themselves in a corner and how are they going to get out of it. Theyre continuing to print. What if the numbers get worse before they get better . Is there going to be more printing . Is that 10year yield going to force the fed to do something earlier than later and something they dont want to do . And scott, youve helped us out a lot this morning and happy thanksgiving, right now, you hear it, thats the opening bell and lets check the big board, all indications are we should open higher. There it is, up 7 points at 7. 83, we probably will trend higher for most of the session. A short session, but it could be an exciting session. Speaking of exciting, black friday, we know that shoppers have been lining up at stores. How are the big retailers doing this morning . Well find out. Lets start with target. Target is looking higher 64. 79. Reported strong thanksgiving day sales and online sales, the highest theyve seen in a single day and booked twice as many as last year. Charles nothing on the brick and mortar side . I didnt read so much on that part, i told you that, online sales and traffic, oh, yeah, youre right. I didnt see about the inside of the stores and focused on walmart and cant wait to get to it. Charles lets talk about walmart. Yeah, lets talk about walmart. So, walmart is higher and when im looking at walmart, walmart launched, obviously, all the deals and such. Do you know they had more than 10 million registered transactions in the stores between 6 and 10 and then how many online . 400 million page views on the website. So, so far, looking good. Wow. Thats actually equivalent to a gazillion years on the obamacare website, couldnt help it. Walmart is at a new high. Charles people arent just headed to stores today. Its all about Online Retail and amazon not letting the brick and mortar steal the shows here, pushing out big sales all day long and weve got to check out the stock, up another 1. 61. 290 looking phenomenal and lets check the market and trading for about a minute or so and check the big board and this is where the dow is right now. Look at that, 16,116. Were tell over 16,000 and the momentum continues. Now, this story from the wall street journal. Something about the rally though doesnt seem right to a lot of people for a lot of reasons. One, the latest Investor Intelligence poll. Theyve put out the percentage at baird, the lowest of 1987. And the margin is the percentage of gdp is nearing a historic high. A frothy market. John, youve been at this a long time and its the cold thing when everyone gets giddy, its almost time to get out. Are they yellow or fred fla red flags. Theyre yellow and money goes where its rewarded and right now the market is where its rewarded. You have the oil prices coming down and real estate is sluggish, there are no yields out there except for a few stocks that have a decent dividend. So the only place to make money is in the market so you have a liquidity push in the market plus with what the fed is doing. It looks likes theyre going to continue this until almost 2017. I think youll see a fedfueled rally in the market for the forseeable future. Charles all right, you ride the wave as long as you can ride it and conscious of the fact, maybe its frothy and old joke, the shoe shine boy theory is there, the little guy is there and so if youre going to ride the wave, help out with a couple of stock picks. Tech had an incredible run, since marisa mayer took over yahoo . And microsoft is up 40 , what they do with mullaly is a very big deal and facebook doubled from its lows and i like certain acquisition targets and vodafone will probably be acquired, if not, the mere rumor of that acquisition will probably push these stocks higher. Charles its so interesting because wednesday a lot of rumors starting to pick up. If theres one area thats a rally that hasnt been big yet which is interesting. I tell you whats big, john, bitcoin. Theyve needled me, 1200. At one point bitcoin was worth more than gold. And whats your abouten . Its probably the future, you never know exactly whats going to happen. Whats the difference between this fiat currency and the u. S. Dollar. We say the u. S. Dollar is worth a dollar, what is bitcoin . Its a 500 billion dollar market and youll have Western Union could get hurt on this. Its going to take a long time for this to happen. This needs to be regulated as any other currency and people are talking about the hidden web, the deep web, up to 30 of the web, the bitcoin, this is just another currency out there and i think it probably survives. I dont know where the valuation goes, its a total guess eyou would say that the acceptance of bitcoin, the rapid acceptance at the same team is an indictment against not just the fiat currency in general, but the u. S. Dollar in particular . People are saying we think that the u. S. Dollar is flawed, and at some point its worthless. I think that people want to be involved in something that has no government ties and i think that has a lot to do with it. Theres no doubt about it, people are going to bitcoin probably as a safe haven and you say it deserves not you, but a lot of people do, i dont know what a premium is, i dont think anybody knows exactly what the stock is worth. People are able to trade this stock, this coin, this currency, pretty much the anonymously, which lends itself to this coin going up in value. I dont know where the true value is, i dont think anybody does. I think you need Widespread Adoption on this thing, which is what it looks like were getting worldwide before you start seeing the fluctuation subside. Ive got to tell you something, its an amazing story and to me, its an amazing cautionary tale for whats going on around the world. To your point, whether you believe it or not, its an indictment against fiat currency and more and more people rather do it this way than they have green backs and other currency. Im jealous when i see the back drop, a while since ive been that way. What did you do for thanksgiving . We had a thanksgiving meal and fortunately my cowboys somehow found a way to win so potentially, actually a pretty good day. Charles and i thought you had turkey and cod fish or Something Like that . Its a british island so theres a lot of strange food if youre an american. Charles take it easy, buddy, have a great weekend. You, too, charles. Charles the question for you, is there such a thing as bad giving . Bill gates thinks so, he questions why anyone would donate to museums when the diseases. And he says were going to donate to museums and blind them. I think its a bad comment for him to make. We need billion in anything, billions of dollars or just hundreds of dollars, you need balance and without educating people what is mainly what the arts and museums do, all youre doing is basically healing them, but not telling them what to do and how to make a better life for themselves. Charles i guess what hes saying though, its a van gogh, its a van gogh, so what . You could have taken that money and saved people, hes not saying its bad giving, hes saying so bad, youre an indirectly responsible for the deaths of people, people you never met, but in other parts of the world that you could have saved. I love it and now its compassionate charity, compassionate capitalism is what were looking at because people feel guilty for giving regardless where theyre giving to. The cliche, give a man a fish and feed him for a day. Teach a man to fish and hell eat for a lifetime. Where does the van gogh come into this. Its an inspiration and changing a mindset and theres something outside of their bubble they need to achieve and work for. Im all for giving to Health Issues and those types of charities, but i think we need a healthy balance and if we sit there one hand and say were going to raise taxes for division, as hes promoted, saying government should pay for education, why should a private business work as well . The idea is theres bad giving and good giving. Kind of nuts. I want to give back to nicole, priceline a juggernaut. Amazing as you continue to watch priceline which has been soaring, right now its up another 1 approaching that 1200 mark. This year its up over 90 . You may remember a couple of things that were monumental for priceline, you had the change of the ceo and Goldman Sachs adding it to the conviction buy list and raised their price target from 1260 up. And why they do that, european recovery, number one. Mobile traffic growth is Something Else that they expected and also gaining market share in the u. S. So, those are three reasons they continue to love priceline, a new high here. Looking phenomenal, but not as good as you. Nicole inks that, charles. Charles if the market had music it would be cool and the gang. Check it out. Theyre partying. Up 48 points and exploding to the upside. The party continues. Where were not partying, its u. S. And japan and china and oil. 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A market check here, you can see the dow up 50 points and its rocking. Its not unusual for a black friday session to be on the upside and we have big Time Momentum and now lets take a look at the morning gold report. Obviously its a different story which is interesting, if the fed is pumping the market, how come it hasnt pumped gold. Its up today 1251. And crowd oil maybe found the bottom north of 90, 92. 94. The mobs the pepper spray, the arrests, but with more people shopping online, does black friday matter anymore. And joining the company now, the black friday hype, listen, its fun and exciting and you know, the online stories seems to be the ones capturing the headlines this morning. I think that online is going to be superb this year. I dont know if we can call it black friday anymore it starts on thursday. Kmart around 6 00. I went to gamestop to try to get a playstation 4 on wednesday and told me theyre not there until friday and i said, that means theyre there right now. Charles did you grease any palms . I tried. Charles here is what i dont understand. Youve got the new George Clooney looking, whats up . Its National Beard month and even matt lauer. And im not going down that route. The dynamics of retail are changing, rights . They are, and we hear about the door buster, and the thing that gets you in the store, but corporations arent stupid. Theyre making money out of this and maybe thats a lost lead are for them, but people are spending money and sometimes its difficult to get the door busters and you know what . If youre in the store youre going to buy something. They lure you in. Yeah, and they do it in advance and sometimes weeks ahead theyre raising prices and the discounts are looking i want another topic. A much bigger story. Tensions are raising over disputed islands in the west china sea. And china claiming them because theres so much oil there. And they sent planes and us and japan sent planes of their own. And this is how the policies happen. Its called an air defense identification, and unfortunately, chineses and japans overlap each other and everyone is flying military aircraft and wants a foot hold because there are lots of oil. U. S. Estimates 28 billion, chinese estimates over 200 billion, bottom line, sounds like something worth fighting for. Scotty, ill bring you in. The administration, do you think that the administration has gotten so bold because we have an administration who has no taste for real confrontation . 100 and we have to realize, japan, if we were to cut off the Raw Materials out of japan, their sort of oil, its going to collapse the economy, theyre reliant on it, and the last time we did that they attacked pearl harbor in history and this is important to them. It is important to them and what concerns me, youve got a lot of military aircraft close together and this is where mistakes happen. And a lot of this could end up falling on the back of some lone pilot out there who unfortunately might be forced to make a mistake. Charles i think a lot of people dont realize after world war ii, whjapan and germany and abby was elected to bring back the samurai spirit and get rid of i think article 9 the passivist part and rebuilding the military and we could look at an arms race in asia that would make the one in middle east look like nothing. That could happen and japan is maintaining the a

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