 All right, so without a doubt the stock of the day was Boeing also known as the poster child of President Trump's misguided notion of forcing smart a free trade with China Well, of course, it wasn't known as that today because the stock soared significantly higher now coming into the session Commissional wisdom was to sell on these opening pops as good news Because well, let's face it. They said it couldn't get any better than this now I don't believe this is or well in group think or a Pavlone in reaction instead I just think the herd is being manipulated lots of investors today selling pushing the doubt Down to 200 points lower then buyers emerge Triggering sharp reversals to the upside the doubt turned up 200 points Netflix for 14 points Amazon 45 points And then of course after the close of parade of earnings stocks that are rocketing higher Facebook beating on revenues posting earnings dollar 69 beating the street by large percentage And by the way revenue per user surging visa also had a great number beating on both the top and bottom lines Allowing management to raise their full year financial outlook and then it's your probably Mexican grill Maybe the turnaround has begun that company saw revenues in line But earnings of two dollars and 13 cents 36 36 percent better than consensus that stock is taking off So are we at the so-called high water mark of the market? Or are we just now learning to deal with the new realities in the market joining me now to discuss Melissa Armo the stocks Of stocks who's back with me also Carol Roth and Shaw Galani. All right, Melissa Yes, they this you know the caterpillar exploded up 4% didn't crash after the CFO said this was the high water mark I don't know. Obviously didn't you know take any media training, but is this the high water mark for this rally? I don't think it's the high water mark for the rally But I think in the next few months we're going to see continued selling because I don't think we're going to see New highs this summer so we can't not move We've been in this range already for two months and everything just looks so heavy All the banks are gapping up on earnings and selling off even caterpillar Like you said that is a massive sell-off bar that had happened yesterday ebay's down tonight I know visas up like you were talking about on facebook too, but they're not up enough Tomorrow night is a big night for the for the market amazon amazon reports on microsoft 2 They both really have to do in a big way to move this market up Carol uh, I'm pretty sure they'll beat. I'm pretty sure they'll guide higher But there's something else gnawing at this market right? I think there is I think that the market is trying to get a handle on you know Not just the good news, but where the forecasts are coming from and which companies are going to continue to deliver And I just think that there's some indigestion that is going to be in the market for a little while If you think about where we were at the beginning of the year Not a lot has changed so if you were bullish at the beginning of the year Not a lot has changed other than sort of these, uh, you know Many temper tantrums that we're having in the market So I think by the end of the year it sorts itself out if you're a long-term investor I think that's what you need to think about that's a long time for our sideways, right? Yeah, but but it is but you have to be patient as an investor That's the whole point of being a long term that you can't try and time every top and every bottom for the market That's where you get burned You need to be patient and when you find good entry points get in at those good entry points and have that Long-term vision. Well Shaw are we seeing good entry points? And when a caterpillar is up 4% then it goes down 11 bucks or or or bowing gets hammered because of you know The saber rattling between president trump and china are those Are those the buy signals that we're looking for the market doesn't think so I think some of them could be excellent buying in points But the market doesn't think so so that makes me cautious because if the market on good news isn't really reacting Well, and we're getting some very stellar earnings reports and the market's not reacting well I think the the larger narrative is that interest rates seem to be rising. We got the 10 year rising at 303 We got the two year at 250. We got oil at wti at 67 68 dollars So we got this inflationary feel we got this feel feeling that yields are rising and then maybe we have seen the best of it But I don't think we have I think my any stretch of the imagination What's going to break it's going to break us out of this tight range that you're talking about I mean you say in the towards the summer in the middle What's the catalyst to get us out of this where would I say you could buy again comfortably Why what would be the catalyst that breaks the the market out of this trading green some significant buying where we have some follow-through I mean we haven't had any follow-through at all. I mean a little bit of a rally a one-day rally We gap down in a rally. That's not what I call strong. I want to see strength I want to see I want to see amazon gap up and rally and go all day That's what you want to see like facebook now is up tonight that sucker better go all day tomorrow That's what you want to see and you're not seeing it. Carol you agree and by the way Do we need leadership beyond just technology stocks? We do need leadership beyond technology and I think that we need to get away from the narrative of Crossing the the the ten-year yield hitting going past three percent. I think that that's really Has been a big issue for the market But there are a lot of counterbalances which doesn't mean that that is going to continue to go higher and higher And higher So I think that a lot of the news that's in the market is not going to be Long-term focus for the market and when it does get it's footing underneath it That is when everything is gonna head back up again. All right. Well the quote of the night that sucker better keep Thank you all very much report surfacing now that Rudy Giuliani is taking over talks with mother about a possible trump interview We're gonna have the details on this breaking news right after this