 Well markets are closed today as the country bids its final farewell to the late president George Herbert Walker Bush Yet, there's still a lot of fallout after yesterday's dramatic 800 point decline in the Dow In fact, I think and I want everyone to understand there were several non fundamental reasons for that sell off They included Trump's Tara Tweet You know yield inversion of which we just talked about in a possibility of a possible recession The New York Fed president's comments on interest rates putting the Fed back in play a lot of confusion over brexit It's looking sloppy over there And then there's technical issues like machine and computer trading run a muck get this folks as soon as the S&P 500 crossed below the 200 day moving average look at that the bottom fell out There was billions of dollars of instant selling across the board here to help break it all down now cap on capital management President and Fox News contributor Gary Calpom heritage capital president Paul Schatz and stock swoosh Melissa Armo Paul, let me start with you a lot of reasons for yesterday's sell-off, you know pick your favorite one To me though so many of them had nothing to do with fundamentals and all of it Then you know the biggest items the headlines were all about speculation That's right. You think about it. First of all, Dow and up 1500 points from after Thanksgiving until Monday's close And we gave back 800 yesterday grand scheme of things not a huge deal. What's interesting about yesterday? I really felt especially in the professional market. There was some panic going on. You just mentioned it I saw five huge institutional sell programs Where it was get me out at any price get me out right now almost in panic form and you're right On the fundamental side how did people go to bed on Monday knowing the yield curve was flat wake up on Tuesday and say Oh my gosh, it's now that you know the threes and fives are slightly inverted and the twos and tens are really close I mean there was a whole confluence of non economic non corporate factors involved just for yesterday Not that the economy isn't slightly slowing, but just the fact that yesterday all the All the ducks got together in their row and it was a confluence of bad things in the clothes You know Gary, of course you listen to the markets You watch them and sometimes it doesn't necessarily matter what the answer is you pay attention to what the market is trying to tell us Well look with all due respect Before we rallied 1500 points. We dropped 2,000 points in nine and a half days So you got it. That's the bigger picture. Look Charles in front of me I have 600 new yearly lows in the market with no major indexes of breaking the lows and on this list is a slew of City groups or East West Bank Corp or Goldman Sachs, and I just think this is all telling us something at this juncture This is not just about what's happened the last month month and a half Foreign markets topped out months and months ago, and now we're hearing Germany and Japan are Contracting right now. I think something up and the main statement I want to make is we had better not break the lows that we've had over the last two three weeks because if we do We're gonna start talking in the weeks ahead of bear market for the major indices, and I have to tell you Last Monday, I thought we were gonna have a rally I just think it was compressed over a five-day period because of the Fed and because of the whatever trade agreement We had normally that usually lasts a month and bearish we go again So I think we got some trouble here Melissa. I'm bullish in the market. I'm I'm not bearish Okay, we are very far away from breaking the uptrend technically speaking the Dow would have to gap down overnight and break 23,000 although that could happen. It's unlikely that that will happen. I expected another big sell-off day It was a week ago. We talked about that rally in the Fed I said, I think we have another big red day and then after the gap up on Monday I was having another big red day. Is that sort of a test of the market? No, but I'm saying that I think it's a shake-up So for example usually you have you had that rally that came in with the Fed news And then you had a big gap up in the market from Friday night into Monday That really didn't happen for any reason at all because there was no agreement May with China on tariffs It was just the idea of putting off the hold of it for a little bit more period But the market really loved that that was the biggest gap up in the SMP going back as long as I can in my chart Since 1999 and that's not nothing that's something I know we sold up yesterday and there was a big sell-off day And that's true, but I'm saying the volatility is here to stay Okay, volatility is here to stay so what's a long-term investor? What are you looking at? Long-term investor if you long-term and you don't need your retirement money right now Or in the next six to twelve months. Are there specific stocks you should be looking at? I like you know what? Alta. Alta just made new highs not that long ago Alta fell obviously with everything else yesterday. Alta looks good as a buy and obviously likes to like the favorites Netflix, Apple All of these stocks and the market too are still holding the uptrend Alta, Amazon, Apple and even Walmart It looks really good even after the sell-off yesterday. I'm not saying buy tomorrow I'm saying watch those stocks for a turnaround before other things. All right guys. I wish we had more time Gary Melissa Paul Great stuff appreciate the expertise and a passion Charles Meanwhile General Motors CEO Mary Barra is heading to Capitol Hill He's gonna face some really tough questions from senators on the company shutting down their plants We're gonna tell you where GM made a lot of mistakes and it didn't just start this year