>> THANK YOU. CHERYL: ALL RIGHT, WELL WE ARE
HEADING INTO THE FINAL HOUR OF
TRADING.
TRADING. IT IS ABOUT AN HOUR AND TEN
MINUTES AWAY.
MINUTES AWAY. THIS IS UNCERTAIN TIME FOR
INVESTORS.
INVESTORS. EVERY DAY WE GET SOMETHING NEW
OR WE DON’T.
THIS STIMULUS PACKAGE, THERE ARE
HOPES THAT WASHINGTON, MAYBE
THIS COULD GET PASSED AT SOME
POINT BUT IF IT DOES GET PASSED
WOULD THAT HELP INVESTORS, WOULD
IT EASE CONCERNS FOR THE MARKET
TO SPRING BACK?
I WANT TOE BRING IN EVERY PLUS
CAPITAL JASON ROTMAN AND
HERITAGE CAPITAL’S PAUL SCHATZ
GREAT TO HAVE YOU HERE.
>> THANK YOU.
CHERYL: JASON, I READ YOUR NOTES
A LOT BY THE WAY.
>> GOOD.
>> GOOD. CHERYL: YOU DRILL DOWN THE BIG
ISSUE OF THE MARKETS, KIND OF A
SIMPLE, IN ITS SIMPLEST FORM.
WHAT IS THE MARKET’S PROBLEM
TODAY IN YOUR OPINION?
>> THAT WE HAVE NOT REACHED PEAK
CORONAVIRUS.
CORONAVIRUS. LITERALLY THE ESSENCE OF IT TO
YOUR POINT.
YOUR POINT. I DRILL DOWN SO THE SIMPLICITY
OF IT BECAUSE MAYBE I’M A SIMPLE
PERSON.
PERSON. I LOOK DOWN TO EVERYTHING, LOOK
WHAT IS HAPPENING WITHOUT ANY
FLUFF.
FLUFF. THE BOTTOM LINE, AS SOON AS WE
SEE SOME TYPE OF EVIDENCE THAT
CORONAVIRUS HAS PEAKED, THAT
CASES ARE SLOWING VERSUS
ESCALATING, I MEAN THOUSANDS OF
CASES OVERNIGHT ARE APPEARING IN
NEW YORK CITY, THAT IS NOT PEAK
CORONAVIRUS HAS ARRIVED.
IT IS NOT ARRIVED YET.
CHERYL: YOU ABOUT EVEN THE
AVERAGE VIEWER KNOWS THAT IS
BECAUSE WE’RE JUST NOW GETTING
TESTS OUT.
TESTS OUT. WE WERE WAY BEHIND THE CURVE,
LET’S BE HONEST AS COUNTRY
GETTING TESTS OUT.
PAUL, LET YOU ANSWER THAT.
MAYBE WE EXPECT NUMBERS WILL GO
UP.
UP. LOOK ANOTHER WEEK OR TWO I
UNDERSTAND BUT WE EXPECT THE
PEAK AT SOME POINT?
>> OF COURSE.
ONCE THE TESTS GET OUT OF COURSE
YOU EXPECT A SURGE IN PEOPLE
GETTING IT.
GETTING IT. KEY STATS, ONE HOW MANY PEOPLE
ARE GETTING TESTED, WHAT PERCENT
HAVE IT WHICH IS CERTAINLY A
VERY SMALL NUMBER BUT TO EXPAND
ON WHAT JASON IS TALKING ABOUT,
DON’T THINK, MARKETS DON’T
BOTTOM ON GOOD NEWS.
PEOPLE FORGET, MARKETS BOTTOM
WHEN IT IS PITCH BLACK OUTSIDE.
IF YOU WAIT TO TAKE ANY CASH OUT
OF YOUR POCKET TO INVEST UNTIL
THE CORONAVIRUS PASSES OR UNTIL
THE CURVE IS REALLY COMING DOWN,
MARKETS WILL LIKELY BE AT LEAST
10 TO 20% HIGHER.
MARKETS ARE, THEY’RE NOT GOING
TO BOTTOM ON SENATE PASSING
STIMULUS ALTHOUGH THAT IS
IMPORTANT.
IMPORTANT. ALL THE FED WORK IS SUPER
IMPORTANT.
IMPORTANT. MARKETS ARE GOING TO BOTTOM WHEN
YOU HAVE EXHAUSTION OF SELLERS,
NOT A RUSH OF BUYERS.
I WOULD ARGUE WE ARE IN THAT
ZONE TODAY.
ZONE TODAY. MONDAY, TUESDAY, WEDNESDAY, I
THINK WE’RE IN THIS ZONE FOR THE
INITIAL LOW.
INITIAL LOW. A LOW AT THAT WILL BE MANY MORE
LOWS PERHAPS, POKING AND
PRODDING THIS AREA BUT I THINK
YOU’RE IN THAT POSITION.
THERE IS A TINIEST OF GREEN
SHOOTS AS I WROTE ABOUT THIS
MORNING IN MY BLOG.
THERE IS A BUNCH OF TINY LITTLE
GREEN SHOOTS SPROUTING UP.
FOLKS WAITING FOR THE ALL-CLEAR
SIGN TO RING, IT WILL NOT COME
FOR A WHILE.
PEOPLE WILL BE BUYING AND NEWS
WILL BE STILL BAD.
CHERYL: PAUL, WE SAID THIS
BEFORE, WE GONE THROUGH THIS
BEFORE, FINANCIAL CRISIS AND
1987, WE CAME BACK.
JASON THESE RECOVERIES NEVER GO
STRAIGHT UP.
STRAIGHT UP. NOT ALL OF SUDDEN EVERYBODY SAYS
GREAT, BUY STOCKS, TO PAUL’S
POINT, JASON TO YOU, THERE ARE
STOCKS WINNING.
STOCKS WINNING. YOU KNOW WHERE I SEE STRENGTH,
THE TECHNOLOGY SECTOR.
GOLDMAN UPGRADED BY
GOLDMAN SACHS.
GOLDMAN SACHS. GROCERY STORES, BLUE APRON.
THERE ARE NAMES OUT THERE.
NOT EVERYBODY SELLING
EVERYTHING.
EVERYTHING. >> NO, OF COURSE NOT.
I COULD SHARE A FEW.
LOOK AT AMAZON WHICH IS ONLY
DOWN 15% FROM ITS ALL-TIME HIGH
WHERE OTHER HUGE NAMES ARE DOWN
25, 30, 35%.
SO EVEN FROM A VERY CONSERVATIVE
VIEW YOU COULD SAY ALMOST
OBVIOUS SELECTION, AMAZON COULD
BE A PHENOMENAL PICK RIGHT NOW,
THE BEST OF A BAD BUNCH RIGHT
NOW.
NOW. ARE THERE -- THERE WILL ALWAYS
BE NICHE NAMES THAT PERFORM WELL
IN HORRIBLE BEAR MARKETS LIKE
BLUE APRON, HAIN CELESTIAL IS A
CONGLOMERATE.
CONGLOMERATE. HAIN IS DOING WELL.
ZOOM IS DOING WELL.
EVERYBODY DOING BUSINESS ON
LINE.
LINE. ZOOM IS ZOOMING HIGHER.
CHERYL: BY THE WAY I WILL ADD
PRODUCE SECTION AT GROCERY
STORES OVER THE WEEKEND WERE
FULL.
FULL. MAYBE THIS IS THE MOMENT TO EAT
HEALTHY.
HEALTHY. JASON, PAUL, THANK YOU GUYS
BOTH.
BOTH. REALLY GOOD POINTS FROM EACH OF