Chris Harvey Wells, Apple, Pain discussed on CNBC's Fast Money
But if you if you attribute any of the run-up due to pro growth policies, less regulation, if that is going to be gridlock. You're not gonna get any of that. So how do you make the case with whether or not rates are coming in now or not to guys question? They're still going to be higher than they once were we're going to have less pro-growth policies. How do you make the case for twenty nine forty in the SNP again or above twenty nine? Oh, four so. Yeah. Exactly for this year. Or even when you're talking about the landscape has changed. So we've had a lot of. Pain so going and talk to we telling clients that de risk when you're twenty one hundred d risks. We saw a lot of good news priced in that derailed has occurred. I haven't seen this kind of de risking in years. There's going to be a massive culling of the herd at this point in time that is going to less sellers at this juncture now when we look forward there's a lot we've dealt with a lot of negative news as we look forward. We're going to have positive news around the holidays, we're going to have positive news as companies look forward apple worn Amazon warned whether it's whether whether or not those are the two names so that dictate where the consumer is going to be so apple worn Amazon one. And now it's in the price. So now, we can work higher from here. And if the consumer is better, and what we know from the credit card companies consumers better we haven't factored in lower oil prices. And as we look forward, the employment picture is still very strong, all these other issues. I'm not saying things are great. What I'm saying is things are difficult, but there's now opportunity here and that opportunities because you've uncovered. And as we go forward you can start to unlock that in the short term portrait. Thanks, chris. Get to see Chris Harvey Wells Fargo Tim Seymour. Well, by what Christmas selling a rally into year? I always listened intently to Chris. And I think he brings some good points. I think what's what's debatable? Okay. He's gone. The line is look I think what Chris has to say in terms of the rally being exhausted in where people are positioned differently than they were say a month ago. Yes, they are is my sense that people actually still believe that we have this year end rally. Yes. And that's a bit of a concern. But forget reading tea leaves market sentiment. I'll say it really simply bond yields are they going lower because oil prices are going lower. No, the price is going lower because bond yields are going lower possibly, but the bottom line is the bigger issue is a gross scare is much more important than an inflation scare for markets. And that's what we're experiencing right now. It doesn't mean that we think we're going into recession. What it means is if you said seven percent earnings growth on the SNP next year. I don't think we're going to get there. And I don't think stocks have that in. All right. The great oil plunge rolls on as cruising so its lowest level in the year as takes down the energy sector. We're asking how much worse can get the traders will weigh in nets plus small caps could be signaling a big problem for the market atop technician breaks down the dreaded deck cross. And what that could mean for stocks and later checkout shares of till right that pods. Taking a hit. After starting support. We will tell you at the CEO said that has Gerald or so nervous. We're live.