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ca people my friends we're just trying to make a little money here because to teach you especially about days like today so call me 1800 743 CBC tweet me at Jim Kramer it's official people when we buy stocks we're no longer fighting the FED based on what we heard today the FED is now a little more worried about a Slowdown than it is about inflation and the averagers reacted appropriately that change with the Dow gaining 512 points to a new all-time high S&P jumping 1.37% NASDAQ climbing 1.38% a little more taid than the others yes when fed Chief J pal says the economy is slow consider that's good news not bad I it means that the fed's now on the side of those who own stocks not the ones who don't own any not only is the Fed no longer our enemy it's much more likely to become our pal assuming the economy stays on its current slower course this is the about face that the Bulls were waiting for it's the come upins for the Myriad Bears who never embraced the possibility that pal could engineer a soft Landing a ter terrific soft landing and this one's so soft it barely c as a landing at all those bears are now trapped there's nothing they can do except try to rip their legs out of the jaws of those bear traps oh good luck I'm told those things really hurt especially when you're short when you get your first sign that the fed's finally done with its tightening cycle like we did today there are two ways to look at it you can say we're now ready for rate Cuts perhaps as many as three of them next year and three rate Cuts would mean smooth sailing for stocks bonds will lose their rrac this versus stocks real fast it's a Cil lack situation not too hot not too cold just what the Bulls want that's certainly what we saw in today's action best performing stocks they were the housing stocks and the bank stocks not Tech the home builders were already roaring hey toe Brothers just announced this brand new 20 million share buyback after the close they get the Zeitgeist but the banks are new to the party and the bank stocks that were most shunned made the biggest moves higher these stocks were all saying that happy days are here uh because well mortgage rates auto loan rates and credit card rates are all about to come down so defaults will shrink but I said there were two ways to look at the FED stance uh what I just laid out is the glass half full version what about that glass half empty alternative this view says the fed's done tightening you might have to cut rates a bunch of times in 2024 but that's because it raised rates too aggressively where the rates going into their highest levels in 22 years so we can only hope nothing's going to go horribly wrong just wrong J palal takes questions from the press and most of the reporters seem fixated on this issue after today's initial Jubilation which will probably extend to tomorrow I expect the glass half empty crowd to take over the microphone but we didn't hear that pessimism from pal he actually did seem as jubilant as he ever gets which admittedly isn't saying very much in fact in his typically understated way he actually took a shot at all those recession EAS gone wrong they'll probably continue to be wrong because well we got a strong tight labor market but more people coming back to the workforce that means wages are not going to sore he didn't say we got a soft Landing n no of course that's what I would do but we did indeed get the soft land so let's declare with today's news interest rates have peaked and we now have the wind at our backs for some not all stocks uh and the wind is no longer in our faces because inflation is getting T obviously the market got ahead of the news the average has been roaring for seven weeks now so there no surprises here other that the FED now seems to think out loud and in unison that crushing inflation is now less important than avoiding it slow down that price stability has been restored again we're no longer fighting the fat the first rule of one you can buy stocks without worrying about monetary policy Pal doesn't want to declare Victory I'll declare victory for him what about the second view though the one that says the fed's only getting ready to cut rates because they're worried something about go horribly with the economy lots of money managers actually came on television and said that immediately said the FED overshot with its raid hikes that the economy's in trouble that recession will happen real soon I actually heard these people say this some even said we're in a deflationary moment where the economy is just going to stall out pancake don't they realize that in this movie The Bulls Gore the out of doors and hook them on two horns ain't these people ever heard of Xanax I don't know how people make this ill-advised argument when we just got strong employment numbers last Friday business is all right it's just not red hot but the more realistic pessimistic Camp says you already missed the rally now it's time to accept that the bull Market's long in the tooth I heard that too headed to the slaughterous heard that too as the true slowdowns yet to begin this Camp had its way with with lots of people buying the slow down stocks think Proctor and G consolation brands people still drink beer in recession the good news here is of course that everyone was buying something that's how you get a market with great breath does it mean the run of the Magnificent 7 is now over as people go byy key Corp and Wells Fargo or use car companies like CarMax and recy Boston properties well you know what yes when it comes to percentage gains when it comes to percentage gains I take any of those over the seven by the way I never knew which of the seven was youu which was Steve McQueen anyway at least not with her hats on should you strap yourself to the bullish mass and not listen to the Sirens of those who are doubling down on negativity the ones who say that were headed for a hard Landing despite all the evidence to the contrary yes for now you need to ignore them it's true that the Market's been up for seven weeks but not everything not the financials they sell at such incredibly low levels that I think you can buy almost all of them especially the regional Banks never came back after the midi banking crisis in March deep CS they haven't run that much either they're incredibly cheap because their stocks will reflect the recession that I'm now telling you we're not going to get told you caterpillar was a winner and Stanley Black and& Decker why the travel trust is such big positions them they're made for this moment when the FED is no long your enemy hey same goes for anything order related they're way too cheap now oh my Ford NGM fine with me so far there's been a ton of money made in all sorts of tech software Hardware cybercity artifical intelligence all the things that tend to hold up in a Slowdown but now it's time for Bank of America JP Morgan to shine for the Autos to be bought for the cist rebound like crazy yes the big money's already been made in Tech although I think that there's still some small money coming but if push comes to shove I got to tell you I prefer JP Morgan Morgan Stanley and Wells Fargo always like that stage Coast to Microsoft alphabet at least when it comes to percentage games by the way that's why every member of the seven gave up big gains after the feds news with the exception of Tesla bottom line sure the easy Money's been made in a couple of sectors mostly Tech but now it's time for a bunch of other sectors to Shine the economically sensitive ones that were supposed to be crushed by an inevitable recession they've been down there being stomped on by the Bears and Bulls that's over uh these stocks aren't liked may I suggest you cuton up to them because the plane has landed our seat belts are unbuckled we're in the overhead taking down our bags we're going down the gang way calling an Uber and getting the heck out of an airport yes House of pleasure Wade in North Carolina Wade hello I was wondering if you think Lulu Lemon has hit the top or is there still room to grow past 500 well how about the fact that all the Bears said it was a bad quarter and then it went to an all-time high I mean you know what I in the old days I used to just call them stupid but you know what they are stupid it's a good stop Andy in California Andy Andrew speak to me come on Andy Andy come on hi this is from the home of uh of the new AI Revolution here in Silicon Valley thank you for taking my call no problem what's up and thank you so much for you and your staff for all you do I've learned so much from you and you are very kind Andy and we're all fired up here and I love this I Andy is the man how can I help uh hey I have a question about honeyvale so when Dave Cody ran honeyvale I made a lot of money in Honey with you you haven't opined on it in a in a bit and it seems like it's been stuck for about 2 or 3 years now uh do I just swap it out for another industrial and would that be a better better take Andy listen to me honey well is made for this moment it's the kind of stock that is it is down 5% for the year it's been hated by Bulls Bears everybody all sorts of animals and next thing you know the FED does this switches Direction I might one of those fed members should have just said you know what what I meant to say was was by honey well could I be more clear the easy money might have been made in some sectors especially te AI you get it but now it's time for the economically sensitive areas to shine so pick up some banks some home builders if you want to they've moved a little but I don't care you know why CU J pal got us to land softly it's a nice ride oh man Mone tonight we're always going to look out for best of breed stocks and the struggling Rec cohort could prist be the one investor should be looking for I'm digging into the story with company press then with infrastructure spending set to continue into the new year I have spotted under the radar player that I think could benefit and be really interesting these levels all reveal an name and Adobe report at the Bell I'm running through everything you need to know with the
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