I WANT OUR TRADERS STILL HERE
AS MUCH AS THEY CAN BE.
ART, OUR YOU BUYING AND SENIOR
CLIENTS CALL AND SAY THIS
LOOKS LIKE A BUYING
OPPORTUNITY.
WE ARE SEEING A LOT OF THAT.
WHAT HAS BEEN THROWN OUT HERE
IS WITH THE BATHWATER.
THE ONE THING WE GET CALLED.
PICK ME SOMETHING THAT'S A
WINNER IN THIS WRECKAGE HERE.
THIS MARKET IS VERY CORRELATED
ON THE WAY DOWN.
WITH YOUR TRAINED EYE.
WHAT ARE YOU SAME.
ON A MULTIPLE BASIS APPLE WAS
VERY ATTRACTIVE.
WITH ALL OF THE TECHNOLOGY
BEING IN THAT VIDEO STORAGE.
AND THEN THE INTEL STORY TODAY.
NO RELATIONSHIP TO WHAT EITHER
ONE OF THOSE FOLKS DO.
IF A GREAT VALUE THERE.
I THING WE HAVE A GREAT NEW
MANAGER TEAM.
AS WE RACED TOWARDS THAT
CLOSE.
IT IS CHANGING AS I AM LOOKING
AT THE SCREEN HERE.
WE HAVE TOOK A LOOK AT SOME
DATA.
IT HAS TRADED BELOW TEN ONLY
TWICE PER YEAR ON AVERAGE.
IN 2000 AND THAT INCLUDES A 17
TIMES IN 2017.
ON THE GIFT OF PUSH AND PULL.
WE LOOK AT SOME OF THESE
COMPANIES LIKE 3M.
JUST TO NAME IT THROUGH.
WE HAVE INDUSTRIALS LIKE
THAT.
NOBODY IS EVEN AS YOU SAID
LOOKING AT TREASURIES AND
SAYED LET'S SPIKE THE SEALED.
THAT FIND A INTERESTING.
WHEN YOU HAVE A DAY LIKE THIS
ANY HAPPIER IN THE MARKETPLACE
YOU SEE A BIG JUMP.
YOU SEE THEM BIND THEM UP LIKE
CRAZY.
THEY'RE NOT DOING THAT RIGHT
NOW.
AND THAT'S MAINLY BECAUSE I
THINK A LOT OF THE PLAYERS ARE
PLAYING THE STOCK SIDE.
I DON'T SEE THE FEAR OF
TRANSFER INTO THE OTHER
MARKETS.
AND THEN I LOOK AT ONE OF THEM
WITH SKEPTICISM.
THIS OVERDONE SELLING ON THE
HEADLINES AFTER THE WEEKEND.
IT SEEMS TO BE JUST BASED ON
FEAR AND NOT REALITY.
WHEN THE FOREIGN TRADERS COME
BACK OVER NIGHT.
IF YOU START TO SEE EUROPE
COMING BACK INTO THE MARKET.
I THINK IF THE WAIT AT LEAST A
24 HOURS TO GET A REAL FEEL
FOR IT.
>> THE BRITISH MARKETS.
THEY'VE JUST ANNOUNCED IT'S
HAVE ITS WORST A QUARTER
QUARTER SINCE 2011 IS IT
SPREADING.
WHO KNOWS.
CAN WE GO BACK TO ASHLEY
WEBSTER.
THE GENERAL CONSENSUS HERE IS
ALL OF THIS HAS BEEN OVER DONE
TODAY.
THERE IS A BIT OF A DATA GAP
RIGHT NOW.
A TRADE WAR WITH CHINA.
THAT IS REALLY KIND OF ON THE
BACK BURNER.
THEY COME BACK WITH $3 BILLION
WORTH.
THAT DATA GAP, WE GET A BIG JOBS
REPORT ON FRIDAY.
EARNINGS SEASON IS JUST AROUND
THE CORNER, THOSE COULD ACTUALLY
BE BRIGHT SPOTS FOR THESE
MARKETS TO SHOW THE ECONOMY IS
GOING WELL AND WE'RE ON SOLID
GROUND.
LIZ: ART, WE HAVE TWO MEN'S
BEFORE THE CLOSING BELL.
EARNINGS SEASON IS COMING.
NOT SUPPOSED TO BE THAT BAD, 17%
FOR THE S&P OVER ALL FOR THE
YEAR.
WE NEED TO BROADEN THE PICTURE
AND SAY EARNINGS ARE STRONG,
RIGHT?
>> THAT'S A GOOD POINT.
WHEN WE SEE A MOMENTUM SELLOFF,
WE GET WORRIED ABOUT
PROTECTIONISM IN CHINA AND
NAFTA, WE FORGET ABOUT THE SOLID
FUNDAMENTAL BACKDROP.
EARNINGS WE START HEARING THAT
IN TWO WEEKS.
ECONOMIC DATA CONTINUE TO
IMPROVE.
ISM COMES IN, VERY SOLID REPORT.
THE FUNDAMENTAL BACKDROP AND
MULTIPLES OF THE S&P FIVE
CONTRACTED TO, TRADING LESS THAN
16 1/2 TIMES EARNINGS, COMPARED
TO WHAT WE WERE 18 1/2 TIMES IN
DECEMBER, WE ARE AT BETTER PLACE
WITH STRONGER ECONOMY AND
EARNINGS GROWTH.
LIZ: OLIVER?
>> LOOK, 17.3% EARNINGS GROWTH
IS LOFTY EXPECTATION.
THE HIGHER THE EXPECTATION THE
GREAT HE HAVE RISK FOR
DISAPPOINTMENT.
INVESTORS DO WANT TO BE
CAUTIOUS.
YOU DON'T JUMP INTO THE SELLOFF.
THIS IS NOT BUY ON THE DIP.
PAY ATTENTION TO THE
FUNDAMENTALS.
MAKE SURE THE INVESTMENT THESIS