Page 2 - Programs Selling News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Kevin, to that point and what happened, i notice midday a lot of money found its home in bonds and treasury notes, particularly the ten year because that had gotten its high around 2.79%. so obviously a flight to quality there. what's going on? >> yeah, a market that has gone very strongly up for a long time now and then got really super charged as we came into the year. we've had a really big improvement in the level of values for the u.s. stock market. we got up to something like $33 trillion give or take a couple trillion. that's to the big valuations relative to an economy that is closer t...

Be in the market. as interest rates go up, maybe you consider buying inflation protected securities or buying something else that is basically safe. part of the problem today and why we had the biggest sell off ever is when markets go straight up like they have the past 14 or so months, people get over confident and there's a saying, everybody is a genius in a bull market. when they get over confident, they buy on margins. that works until it doesn't. so you've had people -- i think i saw something there were a record number of retail accounts set up recently, a lot of money coming in from inv...

You hear about a couple of buys a couple days later that come in and say this is where market valuations are appropriate. i will tell you, if you look in january, a great january, we wiped out those gains, the market valuation if i was to rate it on a 1 to 10, it's ant even. it's not that much over valued. it's not undervalued. so it's about where the market should be. you guys talked about in the previous panel, the great commit data, the health of the banks, the strength of the balance sheets, the tax cut in place for 2018 and beyond. there's a lot of reasons that there's winds at our backs ...

Greed turns to fear quickly. i don't think you get this type of move down and everything is a-ok. i think we are going to see lower. how much is anybody's guess. speak. >> neil: a lot of people want to see a 10% correction, as though there is something magical about it. normally goes beyond that. what do you think? >> i'm going to guess we are going to give half back what we got out of the election, may be another couple thousand points. last monday i said i thought we're going to see a 2500. drop. i didn't think it would happen in five days. it tells me january looks like some sort of climact...

Run up that made me look like a genius. is that still a white strategy here? really depends on your perspective. i repeat the of course. the younger you are, the less urgent you need the money right away. the better you are sticking with markets. if you're really young, 20 years. all kidding aside, i want to raise this with charles payne who picked apart what's going on here. what are you telling your investors right now, charles? >> i rallied the troops. i had everyone come in early. with tried to get in touch with as many people as possible. >> neil: you knew about the futures. you were prep...