FED, Rodney Dangerfield, Tony Dwyer Canaccord Genuity discussed on CNBC's Fast Money
Rodney Dangerfield move to lousy actually they're very few good Roddy filled movies. If you want to their spending this much time on Rodney Dangerfield me. No respect central Bank seizing around the world has been a catalyst for markets to go higher without question, by the way, not to get off track. But I think that's one of the reasons we should still be doing what we're doing. We should still be moving forward. Because as everybody weakens their currency. We have an opportunity to strengthen our foundation and to strengthen our currency. I digress for second. I think at a certain point the the hit a point of minimum marginal returns in terms of central Bank actively I think we're pretty close. Now, you can only go to that. Well, so many times before the market starts to call you. And I think we're just about this. So let's go back to mega cap tech. The ones that do have international pressure. This is this has been brought up tweeted maga- cat strict sitting dollar a strengthened in dollar versus also globe global growth. That's weakening is actually going to be very bad mega cap tech. It's dollars going. And I mean, how does the dollar? Well, how is it for a while? I I think the dollar also has basically gone a one and a half percent in the last five sessions after also doing nothing, but for the last. I just don't know wrenching. You look at all the negatives. All with heads on hold for saying, you think the dollar's gonna rally into this. There's no way could row could rally just just immigration shift to the. Understandable. And by the way, but it's a big mistake. Discount the fed out for two thousand nineteen I think that the market has overestimated, the dovish nece and the fed they're still performing Cutie, and there's still a chance the hike. So then how growth so bad if we're underestimating the Fed's resolve to actually chase. What could be inflationary dynamics in the economy, which seems to be growing others. You can't have it both ways if the fed is in play. The economy's is if anything overheating performance UT though, so they're still removing liquidity from the market by the tune of four hundred billion per year. I don't I still this still at it. I don't know that people are thinking it's going to do that. And if anything part of the last rally for the market, probably the last two hundred s and p points was of you that Powell also no longer robotic on fifty billion coming off the balance sheet. I I think fed in neutral in this goes back to Jay z misters idle and what Melissa brought up about global central banks. I think taking tightening out of central banks arsenal right now in the show. Run means markets Atta very good backstop. But I know I think the Sheffer while welcome back for civil at all. Airplane? Subjects. You're not watching anything across the United States. Yes. Well, you're gonna ask me a question. What do I think about like you had a comment, and you go my comment is when we come to an impasse at this point of the show. Usually it's good to bring somebody in the consort of bridge that divide can sort of cut through all the nonsense guy. Like, Tony Dwyer would be perfect tonight might be able to really bridge both sides by the entry by the introduction that you gave me interesting also have a who is calling for new highs in two twenty nineteen because we're a little bit skeptical off. It's refreshing the host of the show be able to do shells so pay now exact ran Tony Dwyer Canaccord Genuity. He does say that new highs are head for the year. But don't buy just yet. Why? You get a reflects rally of a non recession crash, we got that Szekely thirteen percent. This was fifteen percents taking a little bit longer to get up to that fifteen percent. I'm really torn. I was just talking to Todd off air. I mean there there's a good case to be made for a bigger drop. And there's a great case to be made on the breadth thrust indicators for know rita's, so I'm kind of in this no man's land. Where I don't if anybody comes on set and tells you all this is going to happen. I think they're making it up. There's good data on both sides..