ARE JOINING US NOW WE'VE GOT
JEFF CENTENARY WHO IS THE HEAD
TRADING STRATEGIST AT JOY OF
THE
TRADE JEFF, GOOD TO HAVE YOU
HERE WITH US TODAY AT A TIME OF
YEAR WHERE PEOPLE ARE TRYING TO
SPREAD A LITTLE JOY IN
SHARE, HOWEVER, I'VE NEVER SEEN
A CAR TAP, THE BRAKES AND
ACCELERATE AT THE
SAME TIME HOWEVER, QUITE KNOWS
E 8 ING IS WHERE WE FIND
OURSELVES WHEN WE THINK ABOUT
THE
ECONOMY IN YOU STARK CONTRAST
PERHAPS TO THE STOCK MARKETS
THAT HAVE HIT SOME NEW
ALL TIME HIGHS AT THE CLOSE
HERE WITH THE DOW THE S AND P
500 AND THE NASDAQ ALL GETTING
READY. CLOSE IS THE BIGGEST
TAKE A WAYS FROM TODAY'S
SESSION.
>> WHAT'S UP BRAD THANKS FOR
HAVING ME.
THE GREAT LAST MONTH NOVEMBER
WAS ALL
ABOUT EVERYBODY BY VALUE STOCKS
BEAT DOWN STOCK ACT WAS GOING
TO GO AWAY. THE VACCINE WAS
GOING MAKE
EVERYTHING GOOD AND NOW WE'RE
JUST SEEING STRAIGHT UP GREEK
PEOPLE JUST WANT TO OWN STOCK
BUT YOU IF YOU LOOK AT THE JOBS
REPORT THIS MORNING. IT
WAS AFTER SALUTE LEE OF THEIR
SMALL, I MEAN WE'VE WE'LL HAVE
CLOSE TO 10 MILLION JOBS
THAT WE OF LAW SINCE LAST
FEBRUARY FROM THE PANDEMIC
FIRST STARTED AND AT THIS POINT
IN TIME I THINK A LOT OF PEOPLE
WERE HOPING THAT WE'D ALREADY
BE GETTING A LOT OF THOSE JOBS
BACK AND WE'RE
JUST NOT WE'RE JUST NOT SO
MARKETS JUST RUNNING ON PURE
MOMENTUM AND EUPHORIA AT THIS
POINT I THINK AT
SOME POINT YOU CAN GET A TEST
ON THE REOPENING STOCKS BECAUSE
YOU'RE GOING TO NEED A LITTLE
BIT MORE OF AN ACTUAL
ECONOMIC RECOVERY. SPECIFICALLY
WHEN IT COMES TO MAKE SURE US
THAT.
>> YOU KNOW DURING THE LAST
HOUR DURING THE 03:00PM HOUR
LISTENING IN TO A LIVE PRESS
CONFERENCE PRESIDENT ELECT
JOE BIDEN TALKING ABOUT TODAY'S
JOBS WHERE HE HAS COMMENTED ON
THIS AND SAID THAT THIS IS A
GRIM REPORT SIMILAR TO WHAT YOU
JUST MENTIONED A MOMENT AGO
SHOWS AN ECONOMY THAT'S
STALLING CONFIRMS WE REMAIN IN
THE MIDST OF ONE OF
THE WORST ECONOMIC AND JOBS
CRISES IN MODERN HISTORY AND SO
WITH THAT IN MIND WE CONTINUE
TO WATCH CERTAIN SECTORS TO SEE
WHERE JOBS MAY BE COMING BACK.
HOWEVER WITH THAT SLOWING WHAT
DOES THAT SET UP AS WE GO INTO
A PRESIDENTIAL
TRANSITION PERIOD AND GOING
INTO NEXT HERE WHERE YOU'RE
GOING TO SEE A LOT OF
BUSINESSES SMALL BUSINESSES
ESPECIALLY THAT ARE GOING TO
NEED DIE EARLY SOME FEDERAL
FUNDS TO HELP THEM STAVE OFF A
LOT OF THE PAIN THAT THEY'RE
GOING TO BE SEEN.
CONSIDERING A LOT OF YOUNG
EMPLOYMENT COMES FROM SMALL
BUSINESSES AND THEN
ADDITIONALLY YOU GO INTO SOME
OF THE MAJOR CITIES, THOSE
SMALL BUSINESSES IN THE
EMPLOYMENT SCENE THERE. THAT
THAT'S A CRITICAL PART OF THE
ECONOMY.
>> IF YOU KNOW BRAD,
IT'S REALLY I MEAN I'VE NEVER
SEEN THIS HAPPEN IN THIS
COUNTRY BEFORE WHERE YOU HAVE
PEOPLE WAITING ON LINE. FOR
HOURS THE WAY
THEY ARE TO GET FOOD TO FEED
THEIR FAMILY NOBODY WAITING IN
LINE FOR 4 HOURS 5 HOURS
TO GET YOU KNOW $50 WORTH OF
GROCERIES STUFFED IN THE TRUNK
IF THEY DON'T HAVE
TO AND IT'S SO HARD FOR US TO
RECONCILE THAT YOU HAVE ALL
TIME HIGHS AND YOU HAVE THIS
HAPPENING AND AT SOME POINT AT
SOME POINT
WE NEED A REAL RECOVERY IN THE
ECONOMY AND THE ECONOMY IS
GOING TO NEED A BIG
STIMULUS PACKAGE AND I THINK
RIGHT NOW TODAY WITH THE WEAK
JOB REPORT A LOT OF PEOPLE
TRANSITION A NARRATIVE TO
THERE'S GOING TO BE THIS HUGE
STIMULUS BUT I'M A LITTLE BIT
SUSPICIOUS. I SUSPECT JUST
BECAUSE THIS COURT HAS BEEN
WHAT YOU CAN EXPECT FROM
WASHINGTON. SO I'M A LITTLE BIT
CYNICAL ON THAT. SO I'M LOOKING
AT AREAS OF THE
STOCK MARKET. WE DON'T NEED YOU
DON'T NEED THINGS TO IMPROVE
PER SE ON MAIN
STREET USA. YOU JUST NEED YOU
JUST NEED THE MOMENTUM AND THE
TREND TO CONTINUE LIKE THE
SEMICONDUCTOR STOCKS. THOSE ARE
STOCKS THAT ARE GOING TO DO
WELL IN EITHER SCENARIO.
>> IS CONGRESS TAKING
CUES FROM IS IT THE MARKETS IS
IT FLETCHER HOW BECAUSE FED
CHAIR JEROME POWELL HAS CALLED
FOR STIMULUS AND IN A BIG WAY.
THE MARKETS HAVE CONTINUED TO
MOVE HIGHER WITHOUT STIMULUS
AND
SO CONGRESS SEEMINGLY
LOOKING SOMEWHERE ELSE FOR
THEIR DATA INSTEAD OF AT THE
GLARING RED LIGHTS FLASHING
LIGHTS THAT ARE IN FRONT
OF THEM ABOUT JUST HOW DEEP THE
IMPACT IS AS YOU HAVE BEEN
DESCRIBED.
>> I THINK IF WE THINK BACK TO
PRE COVID YOU REMEMBER THE
TIMES WHEN WE
REFER TO THE TAPER TANTRUM WHEN
THE MARKET WOULD COULD CORRECT
OR HAVE LIKE A 10%
DOWN MOVE BECAUSE THE FED WAS
ROLLING BACK THEIR AGGRESSIVE
MONETARY EASING POLICIES.
WELL WE ARE IN A STOCK MARKET
THAT'S MAKING ALL TIME HIGHS.
SO THESE GUYS ORANGE FEELING
THE SAME SENSE OF
URGENCY THAT EVERYDAY AMERICANS
ARE AND I THINK THEY'RE BEING
ROLLED INTO A PLACE OF
COMPLACENCY BECAUSE OF ACTUALLY
HOW YOU KNOW WELL THE STOCK
MARKET DOING.
>> SO A FEW THINGS TO ALSO HIT
ON HERE BECAUSE WE'VE GOT SOME
MAJOR MAJOR MOVEMENTS THAT ARE
GOING TO NEED TO TAKE PLACE,
ESPECIALLY ON THE POLICY WHEN
YOU LOOK FORWARD INTO
2021. AND YOU THINK ABOUT IN
PRICE IN THE WAYS THAT THE
MARKETS HAVE BEEN MOVING AS WE
CLOSE OUT THIS YEAR AND HOW WE
COULD
POTENTIALLY SEE ANOTHER
ROTATION ARE YOU EXPECTING MORE
ROTATIONS GIVEN THE HIGHS THAT
WE'VE
BEEN HITTING AND WHAT WOULD
THAT SET UP FOR GOING INTO
2021.
>> I
THAT THE STOCKS THAT HAVE BEEN
THE MOST EXPLOSIVE TO FINISH
THE YEAR IN A EUPHORIC
BLAH HIGH FACTION THAT THE
NASDAQ STOCK, THOSE OF THE STAY
AT
HOME STOCK. I THAT THE BIGGER
THE PATIENTS STORY START TO
PETER OUT THIS MONTH.
AND LOOKING INTO 2021. I THINK
THAT WE'RE IN DANGER OF THE OF
THE ECONOMY,
STAYING IN A PLACE OF NON
RECOVERY WE'RE IN DANGER OF
WASHINGTON DOING TOO LITTLE
AND I THINK A LOT OF THE PAIN
THAT IS BEING SUFFERED
ON THE LOWER LEVEL OF THE
ECONOMIC CHAIN MIGHT ACTUALLY
TRICKLE UP IN 2021 AND THAT'S
SOMETHING TO BE CONCERNED
ABOUT.
>> SOMETHING WE DON'T OFTEN
TALK ABOUT, BUT
WE KNOW IS IN THE BACKDROP OR
PERHAPS WE SHOULD SAY THE
FOREGROUND IT IS THE
SENATE RUNOFF THAT'S GOING TO
TAKE PLACE IN GEORGIA AND JUST
HOW MUCH THAT WOULD MEAN
INCOMING
BIDEN ADMINISTRATION TO MOVE
THEIR AGENDA FORWARD EVEN
MORE SO HOW CLOSELY ARE YOU
WATCHING THE GEORGIA SENATE
RUNOFF AND HOW MUCH MIGHT THE
MARKETS MOVE ON THE RESULTS OF
THAT IF YOU WERE TO SEE BOTH OF
THOSE SEATS
FLIPPED DEMOCRAT GIVEN THE WAY
THAT WE'VE SEEN SOME OF THE
REPUBLICAN PARTY. STATEMENTS
AND CAMPAIGNING GO TO THIS
POINT IN TIME.
>> SO I'M OF 2 MINDS ABOUT
THAT.
THE SEAT WITH I THINK A HUGE
PART OF THE OF THE RALLY THAT
OCCURRED.
SINCE THE PRESIDENTIAL ELECTION
HAS BEEN KIND OF LIKE
AN EXHALE THAT WE ACTUALLY HAVE
THIS GRIDLOCK IN WASHINGTON
THAT WE HAVE THE EXECUTIVE
BRANCH AND THE LEGISLATIVE
BRANCH
AT ON. AND SO IF YOU GET A
DEMOCRATIC CONGRESS BECAUSE OF
THE
GEORGIA RUNOFF I THINK THAT
ACTUALLY IN THE SHORT RUN.
SOME DISCORD IN THE
STOCK MARKET AND NOT FROM THE
STANDPOINT THAT YOU WON'T GET
BETTER STIMULUS BUT I THINK
PEOPLE ARE
GOING OR ON YOU THE THINGS THAT
THEY TOOK FOR GRANTED IN
NOVEMBER A