tv Fast Money Halftime Report CNBC August 3, 2017 12:00pm-1:00pm EDT
>> it's because i bought a fitbit this quarter for the first time. >> nice. >> i have it in pink and rose gold cute monitors your heart rate. >> on the call they were talking about a lot of repeat buyers. >> one new buyer. >> conversion. meanwhile, elon musk buying a tunnel boring machine for the potential to tunnel through. let's get to wapner and the half welcome to "the halftime report." i'm scott wapner the top trade, why the record breaking rally could be far from ahead. here's a hint. the reason lies outside of the united states. john and pete na jaaron is with us on set, tony dwyer the chief market strategist. another new high for the dow which continues to hold. there you see it, above 22,000 you might not realize it, but
the u.s. market while having a solid year obviously is one of the worst performing of all of the developed markets. does that mean a so-called catchup trade could take stocks to the next level? josh, you're focusing outside the united states for many months. >> yes. >> is this where the secret to the u.s. rally truly lies? >> look, i think so. so think about -- think about the catchup trade now being u.s. stocks versus international, year to date like over a seven year stretch you basically got 11% out of emerging markets and zero out of europe the big, big picture, there's a ton of money to be made purely on mean reversion. year to date international markets are doing better >> while you're on that point, let's go through some of them. s&p is having a great year, up 11%. mscixu.s. is up. spain 27, belgium almost 19, india 21, italy 26, hong kong
25, south korea, 29. here's what i love about the stock market the nationalism and the exci excitement around the election going into december, no disrespect to strategists, tony's here, but the rhetoric was you've got to be u.s it's not that trump has hurt the stock market, but that was absolutely the wrong way to be thinking it was first level thinking. second level thinking was souch of this is already being priced into the market and what's not being priced in. what wasn't, the falling dollar. we're lapping that with this quarter. look at a chart of mexico of how ludicrous it is to base your six month forward outlook on politi politics the rhetoric on mexico, the pes so he is going to get killed profit margins in countries that don't have favorable trading
positions in the u.s. are going to be squeezed mexico has been the world's fair none of the rhetoric matters i would keep that in mind. tuck that in your back pocket for a future date. >> we are sort of approaching our angle here as the catchup trade, right if people are looking where they're going to get the best bang for their buck at this point, i know everybody talks about this run to 22,000 and the s&p is up 11%, are we going to have a correction, are stocks expensive? you can make the argument if you look at certain parts of the market, no, it's not expensive if you look at the performance versus the rest of the world, there's a lot of catchup to do. >> italy up i believe you said -- >> 26. >> not only double digits but 26%. that's a huge move if you're in italy and we were doing this show in italian, in rome judge which we both love to do, we'd be saying, okay, nothing goes straight up we've got to have some sort
of -- and shouldn't we be pulling some off the table is what you would be saying to the panel here you'd be saying, guys, don't you take some off the table here that's the rotation josh is talking about. you get people pulling some of the money out of those markets, people perhaps even like josh and the rest of us around the table that invested over there, maybe you take some of that back home because of the under performance here relative to that out performance >> what about this notion, catch up trade keeps the rally going >> we've been on the same page on the show where it was the dm over the sin cloe niced recovery what would actually cause that kind of reversion that josh and john are talking about the dollar is the most over sold that it's been on a weekly list since 1978 that was the low in the dollar we've been in a weak dollar call i think you're going to goat a
stabilization for it to pull back. >> that's one of the reasons why the other markets have out performed. >> we're in the strongly collapsed dollar. >> end of '15 into early '16 we're in a global collapse ultimately credit is the driver of the markets >> not just a dollar i think there's an added dimension that has to be brought out. you have earnings recovery. >> you have earnings recovery. global economy the dollar is one metric when you're looking at the reason why. >> there's a way to be told about sentiment which is important. if you harp back to this time last year or just before heading into brexit, the idea was that europe was going to break apart as ultra left wing be or ultra right wing, political parties took over from italy to spain to the netherlands. it was going to be a major domino effect culminating in
angela merkel being kicked out the europeans looked at our election and looked at brexit and they said, you know, maybe it makes sense for us to be a little bit less ridiculous and draconian and so you saw the italian bank bailout take place, you saw voters reject far right party in france. so the other story is a sentiment change around the idea that europe is horrified by some of the things they saw happen politically. they're reacting by going the other way. at the ecb and the eu, their days of tormenting member countries might be over. >> couple that with a very important thing that nobody talked about enough which is the ecb made a decision to buy corporate debt which you had around extraordinary decline in corporate interest rates based in euros that stimulated economic
activity in a phenomenal way if you look at the global synchronized recovery within europe, it has been phenomenal over the course of the last 12 months you could have a little bit of a rated change decline because it's been good, but that is credit and politics in the u.s. and europe. >> what i don't get is you have a new note outdated august 2nd that says sign the correction has already begun. >> correct. >> you have the russell 2,000 broke its 50 day yesterday at the same time the dow made a new all-time high. when that's happened in the past 79% of the time you've had a decline in the next two weeks by a median of 1.5% i'm not talking about i'm going to change my call from neutral to bullish >> you've been maintaining, if there is one, you buy it. >> 100%. >> the signs of the correction has already begun? >> you've already had the smaller cap stocks pull back
the percentage of stocks above their ten-day moving average is within the s&p 500 has dropped into the 50s from over 90. you've had this internal pull back in some of the bigger cap stocks. >> russell is down. >> let's get the other people in here, too. pete >> i think the interesting thing is it depends whether you're a big picture guy. how about some of the individual names. something we talk about all the time how about the idea of how great tech has been trading all year long if you're going to point to europe, how about some individuals. i do far less in the etf take a look at pepsi absolutely exploding to the up side and absolutely beating europe and a lot of other different places >> we are not attempting to, you know, for lack of a better -- excuse me, throw shade on the u.s. markets >> but there are places in the u.s. -- >> that the u.s. has under
performed a lot of these other developed and emerging markets let's get a catch up trade and if you get it, you can keep this rally going. >> and you might see that in the financials. >> not on the u.s. >> we're kind of going, hey, this is great all over the rest of the world but we're pretty good here. >> let's say we can possibly be better as a result of the outperformance we see elsewhere. >> you don't get everything caught up. if you look at the s&p, you look at diaggo, nestle, they're not included in the s&p but they've done well. if you have multinationals, look at honeywell, asian, d.m. focused, you have the pop. some s&p, some not >> i understand. parts of the u.s. -- >> right we're saying, hey, look at how great all of these places are. fang, throw in microsoft. >> you're making a point if there's going to be a catchup
trade, it's going to benefit our market. >> right let's keep this in mind. if we get a catch up trade there will be rotation within that, right? part of the reason this rally has been so strong here is we started out the year, it was financials, technology, then consumer products. >> health care. >> industrials, health care. that's why it's been such a healthy move not just the fang names. >> the reason why this conversation is important, it's not throwing shade at the u.s., is that the u.s. equity market is a set of the global opportunity market it's only half vanguard says the average u.s. investor is 80% u.s. stocks. there's a huge gap in what the opportunity set is versus what our typical viewer that's watching this is invested in that's okay in a period of time where the s&p dominates and over seas stagnates because that paradigm has changed it's important for investors to understand that they could be missing
opportunities. it's not to say one is better than the other or the u.s., forget it, but people need to really understand there are different ways to make money, there are non-correlated markets where there is a diversification benefit. >> dock, i want to hear from you. >> well, i'd say that the likelihood that we see a significant correction just like tony said, whether it is the euro that came from almost par all the way up, you know, to over 110, 112 area, even though the pound pulled back a little bit today on some of the comments over there, it weakened a percent or whatever. i think overall those two currencies correcting a little bit will basically light a fire under the dollar for people who believe it's over sold like tony and i do. >> a lot of the reasons you lay out and think a correction is already done, nice headline. you look at so many other reasons. you cite seasonality, right? >> 5, 7 years, negative august. >> so what
>> exactly if you continue on in the note, the point is how do you determine if it's going to be a correction you should get ahead of and get negative about or one you look to take advantage of? and that's all about -- >> now you're getting all howard marks on me. >> i think, again, it comes down to credit where the fed is there's three indicators we use. the real fed fund rate is still negative you've never been near a recession where that's the case since the 1950s. the u curve is positive. you have a median gain of 45% where the yield curve goes from where it is to inverted to the bull market peak when people keep telling me that credit is peaking and you've got this situation where you're going to be trending towards a recession, it's a long way off. >> i get it. but why would i want to lighten up on stocks with ten year -- >> i department say that. >> you're saying -- >> you think there's going to be -- you say you'd rather be early. >> a correction i would suggest to the viewers, i love to be
crystal clear on here, i think there's a rotation coming to doc's point. you're coming out of the no growth trade to slow growth meaning tech, over seas, bond. >> why would you get out of stocks that are still cheap? >> and into the value trade which are pro growth, financials, industrials, industrial materials and energy. >> you look at some of the technology stocks that sort of get all of the headlines they're on the marquee amazon's got a high valuation. do most of these other fang stocks they don't. >> there's no way i would be -- there's no way i would be under weight them. here's what i've been saying on tech if you were extremely over weight fang and over weight tech, pare it back don't get hurt either way because you've had such an extreme move on the up side. history has said you get a correction when so much of
tech -- it's not just fang it's so much of tech when they make a new 52 week high you want to neutralize it. >> i don't disagree. i think the point you're trying to make, we've been talking about it on the show for a long time, move into areas undervalued such as the financials it's too early to get into there, that's the point. price to book, dividends, balance sheet, tells you that the cheap part of the market that can grow earnings are financials, whether they're regionals, large caps, credit cards, i think insurance companies, that's the area that we like. i think you need to be over weight if you're going to beat the market. >> new all time high for brooks and hathaway buffet has stockpiled a tremendous amount of cash right now. so it's silly to say that berkshire can be a hedge because if there is a real market down turn, he can put that to work. he has in the past. >> so has the large cap banks.
look at jpmorgan they haven't redeployed it yet they're waiting to buy back shares they're sitting there and you can see consolidation, a lot more movement in the financial's area. >> judge, when you look at josh's point, we both made this point recently, that you've got a european central bank that instead of being punitive, like when greece has to go back and get the next round of financing, not going to be the same as it was two years ago and three years before that. it's not going to be the same because they're trying to keep the union together now for all the points that josh made already. that means there's going to be significantly more drivers to our markets as well because if european banks, if the italian banks and the spanish banks are just -- well, what does that do? that doesn't mean that -- >> is that a technical term? >> doesn't mean that jpmorgan and all the others -- >> doctors, there's a senior
financial index in the top 30 banks in europe that i track and it tells you when there's problems emerging in the banking system last year in brexit it didn't budge. it's making a new low. bank cds, the derivatives that tell you there's a problem in the market that's pending and credit are historically benign the chicago fed national financial conditions index which measures stress, 105 indicators in banking, shadow banking and credit markings is making a new low. >> let me ask you this what aside from some sort of geopolitical concern, i.e.,, north korea, should keep any investor in the u.s. up at night? >> the one thing that caught our attention from our new asset class strategist, brian reynolds, he's noticed when the t bill auction went off it was a bad auction. it created a hump in the very short-term market. you're going to have the government run out of money. by october they are coming out
with the debt ceiling. when you had a hump in the market, which has only happened in the cycle three times, you've had a correction in the market because it gets scared that the government won't be able to get along and get the debt ceiling passed. >> what does a correction look like in that scenario? >> it's been between 4 and 14% okay, the differentiator between the 14 and the 4, in the 14 the two major corrections of this cycle, scott, have been associated with a global crisis that had the perception the u.s. was going into a crisis. you had the 2015-2016 chinese market. >> oil crash. >> the whole crisis of emerging markets. it didn't happen so it's going to be closer to 4%. >> we're going to have to raise the bar, by the way, in terms of what we think is a crisis given what's going on now. >> what has happened -- think about this. >> right >> what has happened this cycle outside of major geopolitical event that hasn't happened you've had brexit, trump, fiscal cliff.
you've had european debt crisis. you've had chinese real estate -- >> you know why none of them matter the economies are getting much better. >> great point why are they doing that? because corporate credit is on fire you've raised $18 billion in two days in august in summer you go into trouble in the market and the economy when you don't have access to money there is nothing but money around now this, too, is going to end so badly. >> oh, man. >> but we're a ways away from it that's really the point. >> we'll make that the last word thanks for being here. >> thank you. nothing but money. >> show me the money >> one area of the market seeing some pressure as we hover near highs is biotech one of the best performers now it's on pace for the worst week in the past five. what do you think about this josh, you've been talking about this the ibb down 2.3% week to date. >> yeah. >> is this one of the great trades has it run its course? >> i don't know.
we talk about certain sectors being the best in terms of appetite the russell is down six of the last seven days. the russell is down 3% even though it's been down for more than a week consecutive. i don't tend to look at these things as a functionof does that mean it's over just because something is down. it went up a lot takes time to digest gains what happens from here >> if not yesterday or the day before you suggested there could be a rotation underway. >> there is a rotation. >> i'm not talking about one day. >> you're right. that's the key point is that you can have sectors show strength for a couple of weeks and then take a pause or drop it doesn't mean, that's it, they're inished, they're popped it means money is finding opportunities elsewhere. it really has been something of
a carrousel. the only two areas the market have left out have been telecom and retail outside of that space you've seen a nice rotation bubbling beneath the surface of this event. it's notable, we're not talking about one sector moving the chains we're not talking about ostentatious moves we haven't had a plus 1 day for the spx in 70 days this is a slow grind characterized by that rotation. >> when you go back and look at the last month, some of the performance of the celgenes of the world, the gileads of the world, we have the facts and fund amountals they're doing better than everybody expected you look at the balance sheet and the p.e. levels. it isn't the old biotech world these are strong companies that do have pipe lines and that is
why it's pausing >> wrap it up. this is one i was in typical -- >> you had left. >> yeah. wife threatened me i thought i was out, you dragged me back in. >> can be good at that. >> i had to set myself up in this one though, judge for months, this is a very long-term trading here because we knew sometime in the summer they would get a report, hopefully a good report, which it was, about a drug that they had out there, but the stock was, you know, i want to say in the mid 20s maybe and then it had this huge pop that carried it into the high 30s or whatever you get setups like that where it's just going to grind for a long time and then all of a sudden it hockey sticks up that is different business than the one pete is talking about where you have a pipeline of a whole bunch of different drugs these are the one shot deals. >> you may have noticed leslie picker has made her way to the set. that must mean there is news of
significance in the hedge fund world. >> there is. andrew hall shutting down his fund that's according to a report by bloomberg that recently hit the wires. we put a call in to andrew hall but haven't heard back his astenbeck commodities fund has gone down. the bears were wrong and oil would soon rally hall became well known nine years ago when he was given a $100 million bonus as a star at citi his confrontation drew attention from the lawmakers citihad to sell their energy t occidental just the latestventure in wron way victims. those are all in the red this year. >> he's blaming algorithms he's saying that, look, oil is flat this year and he's down 30%
so it's not directional. >> it shakes you out of the tops and it shakes you out of the low. >> you have double digit percentage gains and losses inside of a $40 to $50 channel which is true and getting whip sawed over and over and over again doesn't help and the time to carry options -- like all of these things contribute to a 30% draw down. people are paying this guy hundreds of millions of dollars and then algorithms come along that drink his milk shake. >> take it away. >> if you think that's not happening in every asset class, every investment strategy, you're not paying attention. >> leslie picker here's what's coming up on "the halftime report." >> two big analyst retail calls in the retail space. in one case the analyst says, quote, the time is now to buy one of those stocks and john
najerian's victory lap after making a great call on tesla "the halftime report" with scott najarian is back in two minutes. the governor has declared a winter weather emergency... extreme risk of burst pipes and water damage... soon, insurance companies won't pay for damages. that is, not if they can help prevent damages from happening in the first place. at cognizant, we're turning the industry known for processing claims into one focused on prevention with predictive analytics, helping them proactively protect the things that matter most. get ready, because we're helping leading companies see it- and see it through-with digital.
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squirrel finds an ache corn, judge. here's what happened in tesla. we made it our final trade yesterday on this show we did it because of the buying of the 3.20 and 3.25 calls the stock was around 3.17. the stock ramped a little, got to 3.24, 3.25 and on those earnings traded through 3.50 tuesday the stock was trading -- the options, the 3.25 calls were trading right around $7.50 yesterday you were able to pick them up for under 10 bucks and they went to $24 i didn't buy that low, i didn't buy it down there but there's plenty of money in here to make some pretty good bucks luckily that's what we did not an easy one though because of all the hoopla around tesla and what elon musk does when he works his magic much like steve jobs with his reality distortion
field. this is a fabulous trade this is a trading stock, not an investment i don't own it long term todd called this at 190, hands down best trade on the board he's been right. tesla's been on fire. >> good stuff. let's move on to two calls of the day today couldn't make our decision because they were both good ones jeffrey says now's the time to buy under armour and bank of america has pvh with a buy let's do under armour. jeffrey says too much pain now is the time to jump in do you buy that? >> i don't here's the problem the capx is going to be there. direct to consumer, 20%, that's pan fantastic. the big issue, they have committed to being in the footwear world with nike, adidas that's where they struggled. you still look at valuation,
it's extremely high. even though the stock has been beaten down, you look at the pe levels, it's back into that show me time, i think as much as i like kevin plank and i think he will come out of this, they've been beat up for all the right reasons and they're going to have to prove it and show growth. >> if you really think this is necessary to catch this pointed knife, then have a little bit more -- >> the knife has fallen too far. >> fallen to the basement. >> through the kitchen floor, now it's on the lower level and going to the basement. >> north america is flat they're great internationally. they have a spate drawn here >> so let me put some meat on the bones here because this is all touchy feeley stuff. i think we have to say a lot of information is already in the stock, maybe it's over done. why don't you let price tell you that the stock is going to stop
making new all-time lows because it just started. it just broke a support level and now they've stopped coming in at that level if you want to say today is the bottom, evidence free. look at rsi. this is momentum this tells you about the strength or weakness of the way. if you get 25 or 26 in rsi, that's what the stock has bounced off of then look for a positive divergence what if rsi starts to strengthen while price continues to sell off. it tells you that the sellers are running out of ammunition. don't say new all time low, it's great here >> because we talk about capitulation all the time. you want to see people basically saying, no more, sell it both hands. >> let's go pf syed rizwan
farook >> reinstated by a bank of america merrill lynch. >> love it because they don't have the bricks and mortar, judge. in other words, this is just a brand company. they own brands and they're brands that we all know about whether it's calvin klein or whatever that people like and they buy wherever they're buying them, on amazon, whatever. >> you don't own it? >> it's intellectual property. >> serat, why am i not in this one. >> should have pointed this one out. >> are we going to look at vf? in the back whenever you can pop that up. >> similar, global brands and
they don't get amazon like some of the others do. >> north face. >> north face, timberland, you have a few others. >> that's not too shabby. >> tons of exposure in retail up 19% year to date you have to be happy with that. >> we are. what you have to watch for is where is the next leg of growth. let's go to sue herera with the latest headlines for us. >> i do indeed, scotty thank you so much. here's what's happening at this hour, everyone the washington post reporting that president trump told the mexican president to stop publicly saying mexico would not pay for a border wall and that funding would work out somehow the post also reported details of the heated phone call with heated pry minister turn baugh
a fire broke out at a fish market stanford university is paying up to $160,000 for students to get their mba if they work in the midwest after grad you do wags if scholarships do not complete the rescue. >> witnesses say the ride malfunctioned leaving two people high in the air in a bungee cage while a third man was stuck hanging upside down 30 feet in the air. luckily nobody was injured that is reason 101 why i won't try that. >> upside down. let's tell you what's coming up on "power lunch." no bun gee jim ps here jim cramer's rant heard around
the world. jim will look ahead and look back on how things changed he was one of the canaries in the coal mieptd. we will have game changer. there are ethical questions. then we will raise the cash to the new in thing in wine the rise of rose ""power lunch"" coming up. >> i don't remember that >> good thing. >> good stuff. >> jon knows it. >> in a clay container. >> almost like mad doing >> thanks for the window into your high school >> all right jon hit the ball out of the park with tesla options yesterday as he told you.
we're going to see where the unusual options activity is pointing to today. first, we'll give you a check of the dow 30 heat map. there it is. pfizer's at the top. we're back in two. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember.
all right. we've set the na garians over to the telustrator. doc, you're up first on the heels of this winner in tesla. what have you got now? >> yesterday i talked about marriott, judge, not only because i'm a lifetime platinum there, but huge up side out of this stock and one of the reasons for it is even with airbnb and all of these other acronyms that compete against these guys, they are killing it. today i'm talking about wyndham. beginning of the year, 75, 76 bucks. now it's 104 this morning at about -- an hour
and a half ago they came scrambling in buying september 105 calls. stock was trading at about $103.55 or thereabouts you can see here nearly 5,000 of those calls were bought very aggressively it's out there nearly two expirations or 60 days i'll probably hold it through the middle of august. >> pete, what have you got >> looking at yandex search engine from russia. it's started off the year here and it just came back down from. earnings on july 28th, they seem pretty strong for the company. we like what we're seeing here right now. somebody likes it enough, the november 34 calls. 3500 bought for 90 cents today by the way, they were selling down side puts as well on top of this to help finance the buy aggressive selling put selling to the down side helping to finance this trade. this is a november trade very interesting to get that
much time and not costing a whole heck of a lot. i'll be in it for a month. i think yandex is great to break out. great fundamental story. >> russia. >> russia. >> yeah, russia. >> that's right. >> kevin i'm hearing kevin. >> we just did wyndham oh, by the way, the ceo steve holmes will be on with jim cramer. >> nice. >> cnbc exclusive interview. >> wow. >> well done, square, teva, l brands back in two minutes. making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second.
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it is time for the blitz full year guidance as well company down 5%. >> yeah, but the stock looks very strong. i would not look at this and say you have a trend change on your hand i like the payment space this is not my favorite name but i don't dislike it if i were long, i would not give up on it. >> doc, teva is getting smoked.
>> yeah, well, the cfo came on and said that generic drug prices are going to continue to degrade as far as, you know, their profitability for the company. they missed on top line, missed on bottom line, lowered guidance that's the trifecta. that's why the stock's down 18%. i think you stay away for a little while here. >> five-year low for l brand a stock you own. >> still own, still buy it great management team. >> still buying it >> buying it cutting inventories. >> you will buy today? >> i will. >> today and tomorrow. >> and tomorrow. >> would you buy it with a mouse? would you buy it in your house >> i will buy it -- >> what will make you sell it? because this is pretty bad. >> i don't think it's very bad. >> price just going on price. >> that's okay things happen with price and over time, you know, the stock will reflect the true value in there. victoria's secrets, bed, bath
and beyond they're making money, still will make 40 cents. i think it's a turn around story and a great management team. >> all right he told you. >> he qualified it though. >> yeah, look. the stocks hit this level in april. had a nice bounce. it was a total fakeout now below the april level. to me it looks like anything can happen from here doesn't show any signs that there's anyone supporting this name hope i'm wrong i'm not sure >> what are you laughing at? >> i'm ready for you, man, let's go >> i know why you're laughing. >> it's all good. >> fitbit. >> fitbit. the demand for the new products has been great they're talking about the smart watch and how they're going to get involved in the health care world. that's gone up against apple, by the way, the watch, nobody talked about this in the earnings call, up 50% according to tim cook. things are happening they are dominating the space. this is very, very difficult waters forfeitbit. >> gold is on pace for the
fourth straight week we'll go to the futures to see the trades, the s&p. the s&p down 5%. dow still up 14. holding at 22,000. >> five points. >> let's not start a panic. >> 5%. >> i almost lost -- >>id d i really say that >> you did >> we were paying attention to you. >> wow >> the look on his face. >> my apologies. five points. excuse me, are you aware of what's happening right now? we're facing 20 billion security events every day. ddos campaigns, ransomware, malware attacks... actually, we just handled all the priority threats.
welcome back to the halftime report gold pliess are pacing scott is this a strict dollar play or something else impacting gold >> no, gold is no longer about a store of value or a safe haven, at least not in the short term you're absolutely right. it's all about the dollar right now. if the dollar falls and the dollar has gotten crushed since march, but if the dollar falls, gold rallies we've got a little bit of news out of europe this morning and that should help the dollar. the dollar index is way over sold with a relative strength index of about 25, it's way over sold i think we've probably seen a short term top in gold >> grant, we're watching gold at 12.75 an ounce do you think quickly we can get to 1300? >> i do, but i'm going to echo
scott. that's only if the dollar starts to sell off. once the dollar gets through the 92 handle, gold will start to rally. 1280 is the next bit of resistance we've touched there a couple of times late last week didn't get through kind of failed. through that to 1300. >> thanks, guys, today on the show joined by stephen parker and he's going to tell us exactly how the weaker dollar is impacting the moments, plus, barry james of james investment research will break down his gold call for equities as well that's all at the toofhep t hour don't miss it. the halftime report is back after this this is where i trade andrs. manage my portfolio. since i added futures, i have access to the oil markets and gold markets. okay. i'm plugged into equities- trade confirmed- and i have global access 24/7.
we're back, let's look ahead to other big earnings reports, kraft and heinz, go pro, shake shack. >> i'm long viacom like this one, judge look at the performance and entire space as far as the companies delivering this kind of content and so forth. got to like viacom and its performed well into the earnings. >> i'm looking they are announcing tonight, seeing what boeing did last week, what the demand is they are seeing they are more narrow body big exposure to emerging markets so we'll get -- >> act vision has one of the --
i don't know why i don't own this thing stock has been on a tear -- >> you own any of those? >> i should. i will the next time you ask me that question, i will be in the space because i don't think e sports will be a come and go fad like online poker. i think it's the future -- >> i agree. >> i think these companies are now being appreciated by the market but they could be so much bigger they could be multiples of themselves just purely based on the attention being divided away from things like broadcast tv and movies and theaters towards gaming yeah, it's not early but you know, it's certainly not late. >> and kraft, robert kraft, friend of the show, he's involved in this now too a lot of smart folks are getting involved -- >> the stock was $10 in 2013 it's -- >> it's ridiculous. >> and electronic arts, no slouch other. >> yelp, some huge put guying
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time for our final trades. >> seeing activity in t-mobile and we talk about sprint and softbank and different things in that space, keep an eye on this name. >> i'm mad at you. not coming to you next i may come back to you. >> not me, john. >> i mentioned berkshire hathaway earlier in the show and i agree about bafrpgz and insurance companies. these stocks are selling at cheap multiples relative to what they sold out in the past and have much better balance sheets and not enough bulls on the street like them yet. >> interactive, you look at the stock as it's about to break
out, match, tinder, you want to hold for a long time. >> you're coming to me >> sm energy, how about that one. sm energy, even with mr. hall getting out of the space and closing down one of his funds, i think this might be one that pops. >> that could be bullish, i don't know what positioning looks like on the oil futures curve but what if that were bullish? >> what do you feel the next catalyst is to get this market moving again >> a significant correction that gets started in those currencies where we talked about at the top. if you get euro -- already had the pound moving but moving because one person if the european central bank starts that moment, that might help. >> interest rate movement, if european banks starts moving, the differential could move the markets and people if they are not positioned properly could cause volatility.
>> curb your enthusiasm comes back -- >> larry david is the key to the market. >> the next thing that jolts the market one way or the other, is going to be politics i think mueller will not stop what he's doing and the market so far has been blasseflt. >> you see sullivan staring over your shoulder? >> did you see that? >> sully yesterday he was dancing. >> photo bomb. look at him. >> power starts now. it already started apparently. go ahead >> only place i have to go was that creepy, josh? here's what's on the menu, dow 22,000, you can't pick up a newspaper or turn on the tv without hearing about it the question now though is, if main street is getting bullish, should you head for the exits? we'll debate and president trump threatening to tighten trading screws on chin