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Market sell-off: Why investors shouldn’t panic

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    Detected Closed Captioning: CHARLES: THE MARKET RALLIED INTO THE CLOSE. BUT AFTER WHAT WAS SHAPING UP TO BE THE WORST WEEK IN A DECADE, IT WAS REMARKABLE WHAT HAPPENED TODAY. I WANTED THE DOW TO CLOSE ABOVE ACCOMPLISHED. THERE WILL BE A MOMENT WHEN MOMENTUM SHIFTS. I’M TALKING ABOUT BEHAVIORAL ANALYSIS WHICH COULD BE THE FIRST LIVING AN EVENTUAL SCHAEFFER. YOU ARE MY FAVORITE BEAR. >> I THINK I’M THE ONLY ONE. CHARLES: THIS YOUR GLORY. YOU HAVE BEEN CALLING FOR THIS STUFF. >> IT HAPPENED A LITTLE MORE SEVERE THAN I THOUGHT. THIS IS SHORTS COMING INTO THE MARKET IS GOING TO OPEN UP AND BE MONDAY. TRADER. YOU CAN REASSESS AND COME BACK MONDAY. THE PSYCHOLOGY. MAYBE AROUND CHART GUY. I’M STARTING TO SEE LEVELS ON THE OUTSIDE. IF THE BEHAVIOR STARTS TO CHANGE, MORE PEOPLE TELL ME THEY WANT TO BUY THE MARKET AND SELL IT. >> RIGHT NOW I THINK PEOPLE ARE NEVER SEEN BEFORE. THIS IS WORSE THAN ’09 WHEN YOU DRIED UP. >> I TOTALLY DISAGREE. THE MARKETS HAVE BEEN ON AN ABSOLUTE TEAR THE LAST 9 YEARS. IT’S TIME FOR THE MARKETS TO BREATH. LOW UNEMPLOYMENT. AND WE HAVE SEEN NO VOLATILITY. WE HAD 404 DAYS OF NO PULLBACK. THIS IS GOOD FOR THE MARKET. CHARLES: I’M ON THE SAME PAGE EXCEPT WHEN WE SAY THE PULLBACK >> THE ANSWER IS QUESTION. THE LAST TIME WE SAW THAT WAS 1959. VOLATILITY EVER. WHEN YOU GET A MARKET LIKE THIS PEOPLE FALL ASLEEP AT THE WHEEL. WHAT WE HAVE HERE IS A WAKE-UP CALL. MOST OF PEOPLE FORGET THAT THIS MARKET WILL END HIGHER AT THE END OF THE YEAR. CHARLES: HOW DOES IT TURN AROUND? >> WE’LL SEE EXTENDED VOLATILITY. CHARLES: ALL THAT TRANQUILITY IS OUT THE WINDOW. >> THAT’S HEALTHY FOR US. THE CYCLE IS NOT THAT. IF YOU LOOK AT YEARS THAT END WITH AN 8, SECOND PRESIDENTIAL YEAR, YOU WILL SEE A PATTERN OF A RALLY IN JANUARY, A SELL-OFF IN FEBRUARY, EARLY MARCH, THEN ANOTHER RALLY IN APRIL AND MAY, BUT BY JUNE IT WILL FAIL. CHARLES: WHAT WOULD TRIGGER UP A FALL. >> I THINK WE ARE GETTING THE TRIGGERS NOW. CONTROL THE 10 AND 30 YEAR. I THINK WE ARE GOING TO GO INTO A DEFLATIONARY ENVIRONMENT. CHARLES: DAVID, WAYS YOUR TOP CONCERN? IS IT THE FED OVERREACTING? >> FOR OUR CLIENTS WHO ARE RETIRING THE BIGGEST CONCERN IS PULL BACK. IF YOUR GOALS HAVEN’T CHANGED, PASS WARREN BUFFET SAID, GO OUT AND PET YOUR DOG. CHARLES: THANK YOU BOTH HAVE MUCH. BE SURE TO WATCH MARIA BARTIROMO’S “WALL STREET” TONIGHT. WE HAVE THE CHAIRMAN AND CEO OF CANTOR FITZGERALD. >> SHOULD THERE BE MORE VOLATILITY IN THE MARKET? THERE SHOULD BE BECAUSE THERE ARE LOTS OF MOVING PARTS. THAT’S A LOT OF MOVING PARTS. BUT YES INFLATION WILL GO UP BUT

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