in this country stabilizing the price of food these financial derivatives were based on the commodity markets but actually have had a tremendously destabilizing effect both causing bubbles market manipulation and tremendous volatility hurting both the industry and the consumer and actually anybody involved in the food business except the bankers and the traders you know the commodity markets correct me if i'm wrong were originally created because farmers were routinely going bust in the in the early one nine hundred seventy three and and and bakers people who used to farm products were going bust when they were cycles and in drought and things like this and so with the with the futures market a commodities market a farmer can say ok i'm a plant wheat and the day i plant it i'm going to sell half my crop at a fixed price and whether it grows or not so i nominate at least enough income that i'm not going to but we're broke this year and on the other side the bakery could say ok we're going to we're going to contract to buy a certain amount of wheat and you know we don't matter how the c

and then they promoted commodities as an "asset class," like you could invest in commodities just likeou could in stocks or bonds or anything else, like they were suitable for long-term investment. >> dan gilligan of the petroleum marketers association agreed. are you saying that companies like goldman sachs and morgan stanley and barclays have as much to do with the price of oil going up as exxon or shell? >> oh, absolutely, yes. i tease people sometimes that-- you know, people say, "well, who's the largest oil company in america?" and they'll always say, "well, exxon mobil or chevron or b.p." but i'll say, "no, morgan stanley." [ticking] >> coming up... >> is there price manipulation going on? >> i-i can't say, and the reason i can't say is because nobody knows. our federal regulators don't have access to the data. they don't know who holds what positions. >> why don't they know? >> why don't they know? >> yeah. >> because federal law doesn't give them the jurisdiction to find out. >> that story and more when 60 minutes on cnbc returns. [ticking] up. a short word that's a tall order.

because you are the commodities guru and you've been bullish about commodities for a while definitely well before two thousand and eight which commodities are you bullish on. most bullish on agriculture as we speak right now we have serious problems facing this scenario because you know we've been consuming more than we've been producing for a decade now which means inventories are very very low but we're running out of farmers i mean the average age of form is in america's fifty eight in japan it's sixty six in australia it's fifty had more people study public relations in america than study agriculture we're running out of form you should learn how to drive a tractor i should i really should it's not a bad plan if this whole media thing doesn't work out ok so you're bullish agriculture why should retail investors get in is there a good time or a bad time for just noninstitutional average investors i've told you before in the world's worst markets and the single worst trader in the world short term trader in the world if you don't own any culture buy some now and then try to figure o

so it's a commodity play, and canada is one of the world's commodity leaders. so look for that canadian currency to continue, and i'm looking at $1.08 as the target. > > time for the bonus round for you today. give me the ticker of molsoncoors. > > c o o r. > > b e r. [buzzer > > t a p. > > tap! > > i was close. > > thanks for being on the show. good to have you. still ahead, are jp morgan and wells fargo stocks ready to break out or break down? chart talk is next. tim biggam of tradingblock joins us now. good morning to you tim. > > good morning angie. > > we have some big financials reporting in today with earnings, j.p. morgan and wells fargo. j.p. morgan trading near a five-month high. is this a stock that you would buy? > > it's interesting to see it. we're back pushing toward those highs of march, that $45-level. it will be interesting if we do get some good news out of j.p. morgan. certainly they've recovered all that loss post the whale trade, so the stock, and banks generally, i think, kind of feeling the benefit of what the fed is doing as they're abl

if hi to buy commodity right now, i would buy agriculture commodities.hing because the world economy is going to be bad. short stocks, long commodities and curranencies. >> i just got back from japan. the whole talk is the issues between china and japan. do you worry south sea will be impacted, navigational export positive of that waterway? >> maria, i worry about everything, especially when politicians are concerned. these two little islands are so insignificant we shouldn't be talking about them, but it could lead to war. >> exactly. >> so we have to talk about them. of course i worry about that. i'm looking for places to invest. maybe china if we just pointed out, maybe japan. these are markets that are down. russia, i'd rather invest in russia if i could find a good way to do so. >> what do you want to invest in russia? a lot of people wonder if russia is a place with putin's policies. this is a big -- >> i went -- first went to russia in 1966. i've been totally negative ever since but mr. putin seems to be changing his tune. maybe because he's worri

we think commodities are a great way to play the growing consumer -- >> all commodities?e often about agriculture? >> more often about agriculture. but energy as well. so to the extent that there is an industrial boom in places like india or china, the whole energy complex will continue to appreciate. >> what we've been hearing from china -- >> china is a big question. china's a big question mark. people need to eat. they don't necessarily need to build new factories. >> and they don't necessarily need to consume as much copper. >> we like copper but we're nimble with our copper allocation. not having too much risk allocated to any part of the commodity complex. one these we aren't complicity with is gold. we trity and avoid just lookingt go gold. >> a number of cogent arguments that have been made in some of the presentations we've heard seem to argue for rates have to go up. they've got to go up. how are you positioned for that? or are you perhaps not a believer in terms of where the treasury's headed in the future? >> david, great question. we think that rates have a l

we find that the commodity prices rose during q e one and two the latest twist did nothing to raise commodity prices and in fact they fell and continue to fall and since kili three least a drop in oil and gold is more or less flat so i'm wondering if you think there's anything inherently different about stocks and commodities that would justify this difference. well operation twist up is completely different from the q.e. program so that it was balance sheet neutral right the federal reserve is just popping something on one end of its balance sheet for something on the other in short for a while and so technically that's neutral although that still have an impact on stocks because it has the effect of driving interest rates down pension funds and down into other yield needing vehicles have to go out have to take risks to go into the stock market when bond rates become very unattractive so twisted will drop so many entities institutions people into the stock market commodities different story they tend to operate on the global inflation trade they operate they respond very well to excess stimu

georgia gulf is going to be a stronger commodity player exposed to the player on the pvc side. we think it will be a good transaction and we think the prospects for both companies are good. longer term, this should be an excellent value creator for us. >> it is nice to have something to bust the gloom of the chemicals today. totally delivered. not everybody had a tough quarter. they had a good one. >> coming up, midas touch? the market plunges. uncertainty runs rampant. is now the time for investors to take cover in the shiny stuff? cramer sees if gold paves the way to profits on "off the charts." and later, drug problem? stock collapsed last week after the fda expressed safety concerns over its experimental treatment. can it recover or is it a prescription for pain? cramer's exclusive with the ceo is just ahead. ally bank. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's

the two commodity ones, materials and energy. cheryl: talking about materials and energy specifically, he said this is an opportunity at the moment or not necessarily right now? because for example oil right now $85 per barrel has a lot of strength. >> is. the market coming down, sometimes you see a decline with low volatility. when you see the volatility pickup: not a good signal. liz: okay. howard present, thank you so much. a year ago 50% in cash, now he is all invested. we are pretty much close to the session lows right now down 25 points for the dow jones industrials. one beaten down technology stocks making a decent comeback today. stay tuned. ♪ ♪ [ male announcer ] how do you engineer a true automotive brethrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. gr

only one commodity in the green and that was gold. was down yesterday. this is surely a sign that investors ought looking for a hedge against inflation or what could be a spike in inflation after the fed's latest stimulus measures of gold was not a huge gain will get a price bump but a lot of that also the sell-off we saw across the commodities complex is the result of a stronger u.s. dollar which we had at play as well so energy prices i tory as far as commodity prices and continued to be in the evening session. ashley: ge invested $22 million in a company last year that hopes to become the apple of the prefabricated building industry. how they plan to build their way to the top? joining us in a fox business exclusive, project fraud ceo, and in 2006, what exactly does project fraud stand for? >> stands for the new way of building. we provide components for commercial construction. the result is highly functional energy efficient buildings that the superfast. ashley: you were at bp for 20 years. what made you jump out of that and say i want to build cont

but if i'm a commodity, then i want to be the best commodity there is, so that buyers will pay the highestprice. >> we've already sent players directly to europe as soon as they turned 18. or we loan out players on a five-year contract. we have different types of agreements with big, medium- sized and small clubs. >> it's a soccer player factory. 90 teenagers jammed into rooms with bunk beds. seven practice fields. physiotherapy, and english lessons. here young players are prepped for life as professionals. and more important, for their first major deal. and the deals are made in sao paulo. the brazilian company traffic sports owns yan's club and is one of the leaders in the marketing of rights and player contracts in brazil. german jochen lÖsch runs the international business. he says yan could bring in 750,000 euros transfer money with his first contract alone. and in brazil, there are many just like yan. >> there's a lot of talent here, because boys don't want to be anything but professional players. soccer is the most important thing for them but playing conditions aren't always the be

with concerns about global gross growing, will this commodity wreak havoc on your portfolio or is it primed to heat up? kramer drills down on the technicals when he goes off the charts. all coming up on that money. >> don't miss a second of mad money. follow at jim cramer on twitter. have a question, tweet-tag mad tweets. senden e-mail sim at bunney @ cnbc.com or give us a call at 1-800-743-cnbc. miss something? had to mad money got cnbc.com. hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios are the real things. are the real things. kramcrame mad money >>> it's healthy week here at nbc universal and we talk about trying to stay healthy, there are few things more important than eating the right food. that's why i'm going to highlight a food company that may not be everybody's idea of food for you, although the stock has been good for your portfolio. i'm referring to conagra foods, which you might recognize as the company behind brands like banquet, chef boyardee, hu

been easing to offset tight liquidity conditions we'll talk to dr stephen leeb about the impact on commodity prices plus he'll weigh in on the big picture resource and energy issues you are not likely to hear about in the u.s. vice presidential debates tonight and christine lagarde head of the i.m.f. and waded into the eurozone bailout for a saying greece should be given an extra two years to meet its budget target. what's driving high level leaders elected or not to really make sure greece days in the euro zone and continues to service the debt no matter the pain domestically will discuss and will we see criminal charges for actions surrounding j.p. morgan's multibillion dollar trading losses will deal book reports federal authorities are using taped phone calls to build criminal cases here is what jamie diamond said of the london whale trading losses yesterday. which we are sure will be with the courts and also the money. really it doesn't cost us to subsidize a bank of your size running enormous risks and realizing huge losses whenever you feel like it we may have a little disagreement bu

with concerns about global gross growing, will this commodity wreak havoc on your portfolio or is it primed to heat up? kramer drills down on the technicals when he goes off the charts. all coming up on that money. >> don't miss a second of mad money. follow at jim cramer on twitter. have a question, tweet-tag mad tweets. send an e-mail sim at bunney @ cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to mad money got cnbc.com. [ male announcer ] this is rudy. his morning starts with arthritis pain. and two pills. afternoon's overhaul starts with more pain. more pills. triple checking hydraulics. the evening brings more pain. so, back to more pills. almost done, when... hang on. stan's doctor recommended aleve. it can keep pain away all day with fewer pills than tylenol. this is rudy. who switched to aleve. and two pills for a day free of pain. ♪ and get the all day pain relief of aleve in liquid gels. ♪ anything, yes, i'd do anything ♪ ♪ anything for you ♪ throughout our lives. one a day men's 50+ is a complete multi-vitamin designed for men's health concerns as we

we saw commodity and rim values deteriorate in a way that was unexpected. a flexible business model and a strong balance sheet, so we're very good in our feeling about our abilities to stay in our growth strategy and so forth. so we've got to work through this, but we had to come out and talk about it. liz: let's talk about why the agricultural picture matters. you turn trash into treasure, and your trash is basically waste, agriculture waste. everything from cooking oil to, i guess, soy oil, corn oil, the inedible parts of corn oil. >> yeah. liz: and you turn that into an outright fuel that runs trucks? >> we do. liz: and doesn't denigrate the engine itself? >> not at all. in fact, it's better for engines to use our products because it's a product that -- liz: is that an sat word, lieu bristy? be. >> right. [laughter] we take fats and oils z, preferably waste products, and convert them into biodiesel which is a drop-in, fengen, substitutable fuel for diesel. you can use it up to 100% level without modification. liz: is the military using this? >> the milit

>> i think it's in a pullback in the commodity space in general. with the economic slowdown, the demand side, if you will, you aryou'reseeing the pullback in y prices and we will see supply as mentioned before but always be in the middle east and issues surrounding prices that way. real demand side is for lower prices. liz: there is the question of risk in what is going on globally that might affect them, but the fiscal cliff, are you concerned about that at all? >> in the third debate tonight, politics are centerstage you talk about financials. a mitt romney would be better for the big banks. they have been strong but from a longer-term perspective, three years, five year chart, they certainly have a long ways to go given the financial sector in favor, better real estate prices will be the real engine for the broader market as well. liz: wells fargo 30% over the last year. that is pretty darn good. look at some of these names, bank of america included. liz: the s&p up 30% in that time frame. in the last six months and in the last year, in line wit

what does that mean for commodities? gary kaminsky is at the goldman sachs investment symposium with a special guest. over to you. >> i'm joined by hedge fund manager todd agram. you're a global macro manager. >> yes. >> you hear global macro is the only way to make money. lay out for us what it is like investing in this world today. >> well i think in terms of what's really changed in the last number of years is the degree of government intervention so previously you could see the match here and think about economics and have a good chance of making money, be a stock guy and talk about fundamentals of companies and what's happened now there's a third layer that's always been there not to this degree which is the government, so qe3 or european intervention, whether it's spr releases, et cetera, there's another variable there. there are certain times when all those variables can align and you have a great opportunity but unfortunately a lot of the times the variables are all over the place and that makes for choppy, diffi

rise in commodity prices and so they claim that the policy of a sterile should bring about the recovery but that it's been derailed by these unfortunate acts shocks but the policy of a sterile. is basically wrong when there is a lack of private sector demand when banks are lending when businesses don't want to borrow when people are cutting down their spending because they want to reduce their debt when the government then adds to that sort of downward pressure on spending then it's no surprise that the economy isn't growing is does that. comes from an inherent misunderstanding of how economies actually work on the government's part so i do think it comes from a misunderstanding of how economies work you see i think the coalition came into office with a belief which was often expressed by george osborne that as soon as a sterile was seen to be working as soon as the government committed its.

liz: when commodities are hitting all-time highs and the lot of commodities going to the food that youer you guys said in your guidance that you would only expect 1% or 2% hike in commodity prices and analysts were saying how does that work? is a lot less than they would have expected. >> part of it is in terms of containing it, we have protected ourselves with buying contracts for six to 12 months out. we look at the next fiscal year and most of those costs contained. another vein, when you think about our menu, it is broader and more diversified than the competition and 30% of sales from drinks and 10% from ice-crram, snacks that cetera so we have a wide variety of products that allows something unnatural edge with a breath of the menu we offer. liz: let me eddie stand by. we have breaking news if you would indulge us. back to robert gray on the foiled plot to blow up the federal reserve building in new york. what more do you have? robert: it was an undercover sting by the fbi. that much we have beee reporting. we have the fbi coming out who conducted the sting, selling this least tu

not much reaction on commodity today. brent pretty steady. spot gold barely weaker. >>> asian bourses helped by positive cues from the u.s. and europe. developers let the rally. september average home prices declined, but earnings from the bigger players are still promising. elsewhere shale gas in the mainland al mainla mainland also surged 37 hang seng followed in the mainland's foot steps to end in the glean helped by industrials and energy plays. elsewhere, the nikkei continued its strong rally ending higher by 2% at a three week high. exporters gained once again on the weaker yen. china plays also picked up the steam. south korea kospi eked out modest gains supported by ship builders and automakers. meanwhile a strong rally in australian miners lent support to the asx 200 rising to a 15 month high. sensex still on the move, higher by 0.6%. >>> smartphones are in focus. nokia will report earnings at 12 central european time. this as the number of smart phones oig around the world sold will top 1 billion units for the first time. iphones an

you say it should be treated as a simple commodity. >> it is more valuable than other commodities and more important than other commodities. once you start relying on something like they did in housing. people who always need housing it is a stable asset class. once everyone starts jumping to a certain asset class and everyone is doing it it no long. liz: anyone can stand where you are standing and make a wild prediction but we need to know if there are people who believe in what you are saying and make money off of that belief? what you're recommending in terms as in investable opportunity? >> most expect inflation as if we have another recession with a lot of gold bugs are willing to admit there will be a deflationary scenario which means prices of everything will fall like oil and copper. liz: can you short something? >> we are shorting goldminers and people don't want a lot of risk and we recommend putting options, i know some people don't want to take full risks with just one short place. we are doing a fair trade where we believe gold will fall but platinum, diamond and natural

global regulator the commodities futures trading commission remember recused himself from the investigation because he worked at goldman with corus on now fighting on behalf of m.f. global customers this entire time still fighting is james good to us who has a hedge fund is incidentally an attorney and he's also president and founder of the commodity customer coalition he joins us now to give us an update close to a year after m.f. global imploded and your world changed forever too yeah thanks for being on the show you're welcome thanks for having me yeah so james give us a little bit of an update in terms of how much money have u.s. customers received back from m.f. global how much have u.k. customers received while customers who invested with m.f. global to then trade on u.s. futures exchanges have received eighty percent which is great those who invested through the u.s. and in the book to trade on foreign futures exchanges have only received five percent back five per cent. and does that include people that had their funds read hypothecated. i mean there's no differentiation between tho

1ilometers very limited--tn,e ss so we have always looked outsi wiin 1ilometers for e salef our commoditiess we have needed sometimes processing and administration, and at processing s keace in cities.ctivity soom some physical pressuresands s evolve to a situationhere we ve a small number of large cities tted around the coasine. narrator: to a sithis situation ve a smallcontinues today. cities in the offices of mitsui, people handle the processing and export of iron ore, coal, metals, chemicals, food, natural gas and wood chips and they do it all without setting foot outside of australia's largest city, sydney. inll, three-quarters of the population live in cities, making australia o ofthe ms in the world. ken o'connor has elored the fus of tewarge cities that lie on the edge of the connent. in effec fromhe earliestimes of tewargthe cities wereie oncontrolling the country,. but the cities themselves depended upon the export markets d coact withies tthstf world.pended sohe cies on theustralian coast were the gatewayities. they provie connection and they provided linkages between those marke

a barrel that is just no way to run a business a country or anything else is trying to rely on a commodity where marginal costs are going up at double digit rates we need to turn around and look at ourselves and world up our sleeves and recognize we're in a war people don't have to die in this war but if we lose the war the consequences will be just as if we lost fighting war we will lose our century we will lose our way of life the stakes of that great yet it will end the way that the u.s. arguably has been fighting that war has cost a lot of lives so the way you're talking about is much more humane too to make my moral point we are going to go to break i want to keep you on i want to talk about the impact of the recent rate cuts that we're talking about on commodity prices because we know easy money sometimes flows into them so stephen leeb author and chairman of leave capital management will be back in just one moment and still ahead we have a mash up of jamie dimon comments from yesterday the global economic conference you will not want to miss them but first your closing market number

global's collapse so we're having a date with james good to list president and founder of the commodity customer coalition about why we haven't seen any body in handcuffs and why customers are still out cash so james i want to get back to what we're talking about as far as the evidence of fraud have we heard any regulators or authorities indicate that they believe there was fraud so back in december terry duffy who's the chairman of the c.m.e. and sorrow testified before congress that corps on knowingly submitted a falsified said report and that. c.m.e. had spoken to an employee who had direct knowledge of the course i knew about the improper transfers so i was sitting congress that day i met with duffy. ahead of that testimony and if he's said to me quote james i like what you do for the customers i'm going to stand up and do the right thing and he deviated from his plan remarks to go and do the right thing and call out of course i personally felt course i should have been arrested on the spot for misstating facts in front of congress but instead i believe it was the d.o.j. but it was

we will talk about oil and the reaction and commodities. there you have it. ♪ chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. connell: in fairfax, va. president obama is about to be introduced by the crowd. we will get his first reaction to the surprising jobs figures and a drop in the unemployment rate at 7.8%. the president will take the stage in moments and we will take part of that live just to see how he puts or how he reacts to this jobs report going forward in the campaign. mitt romney has a campaign event in a few minutes. dagen: reaction in the stock market has been measured. we have surprising drop in the unemployment rate but job creation came in almost on the nose in terms of expectation with 114,000 jobs. and zynga doing the face plant. nicole: that is a lead story on wall street. we are seeing it selling off dramatically. don't forget zynga got a lot of revenue losing paying customers and had to cut their outlook again. they're down 18% and facebook at 2133.

as you know, these commodity chemical businesses can be volatile and sick la kal. we have tried to be a more specialty chemical and we believe we have done that with the georgia gulf traps action. >> what is better about a proprietary chemical company? >> typically you have good points of value creation for your customers. these are proprietary innovations that you can add to your customers such as the arrow space companies where you are bringing corrosion protection, new desigdesigns, decoration, t are the types of things that let your customers appreciation the things that you do and they can add value for their customers and it gets a tight her relationship. you have more consistent sales and earnings and you are not as exposed to the ups and downs of the chick psyceconomic cycles tn get into. >> chuck, you also had excellent auto results. excellent, now there are companies in this country and in europe that are doing, very, very well in the auto business. >> yes, jim, the auto motive oem business is still quite healthy. here in north america, the business has b

rates of growth closely track commodity prices.rices in turn will increasingly track with china's growth. china imports these commodities. australia is another example. it used to be called the lucky country. this week it recorded the biggest straight deficit in four years. why? prices of iron ore and coal are down because of china slowing demand. china's unprecedented rise has brought with it a boon for resource-rich countries. as china's growth slows, the party is going to wind down. even the united states is not immune. i was struck by a report in "the wall street journal" this week that said u.s. exports to china of coal used in steel making grew six fold in 2009. they grew six fold again in 2010. 600% rises. but as china's steel industry faces a loss this year, demand for u.s. coal has slowed. that's contributed to layoffs for hundreds of coal miners in the state of west virginia. thousands of miners will have their penguision and benefits reduced. all of these ripple effects lead back to china. to give you a sense of its impo

those are the commodity businesses.ineered systems businesses, which are doubling, we make a lot of money because we add a lot of value. we have no ip. an x-86 box, the ip belongs to microsoft and intel. you know, we're just a redistributor of their technology. we don't care about that business. it can shrink to zero. we don't care. >> right. let me switch gears. i came across a lot of quotes when i was preparing for this interview. one of your quotes was, we write software, we do not write checks. >> that was an old quote. >> does that mean you're not considering raising the dividend? you got all this cash on the balance sheet. you're not going to do a big deal. what are you going to use that money for? >> we could do a big deal again down the road. i'm just saying over the next couple of years, senior management down to individual programmers and sales people are focused on one thing, selling applications in the cloud, selling our platform in the cloud, and selling our infrastructure in the cloud. so we're laser-like

>> i'm a believer in commodities. the world, the emerging markets are raising their standard of living and crops are -- crop performance is disappointing. you have a double whammy going on. greater demand and global warming is causing disappointing crop output. >> byron is spot-on. gold can going higher. he's right, it's a painful trade to be in days like yesterday. feels awful but if everything is happening in the world the way i think it is. the one that will be left standing is gold and will be at significant -- >> i'm not doing it as a commodity speculation but all you have to do is look at what's going on around the world. the ecb is expanding, the euro money supply, the fed is expanding, the dollar money supply, japan is doing it. every -- there are 250 examples of monetary expansion debasing currency, gold has to do well in that context. >> byron, tonight the debate/town hall potential to be a market mover tomorrow when we come in? >> yeah, i mean girls if obama doesn't do well, i mean obama is in trouble. he h

getting commodities and in effect kind of balancing the deflation that we're seeing in other areas of the economy so it's. it's not as dangerous as the critics predicted it would be so right from the outset i mean now we're on want to tate of easing. number three right and so with the first set of quantitative easing it was predicted that this would generate massive inflation and it did not not not that it's generating no inflation it's just not massive so it is not a fact in the eurozone i don't think so and i think i think if anything the european union is now moving in this direction it's saying that it needs to do something along these lines of course a very poor solution for dealing with economic crisis it's marginally better than doing nothing but there are better solutions and the better solutions are keynesian demand side solutions where the government actually spends heavily on infrastructure creates demand within the economy which then leads to increased investment in production and improvement of the overall economic environment i mean this is a classic case of what john ma

i think commodities stand out as a clear underperformer year to date.one of the few risky sectors. but i absolutely agree that the turning of the cycle and increasing evidence of that especially in china is crucial here and we're looking into this. the problem is that the market itself, if you look at came potty prices, it's still really not picking it up. and given the very poor performance year to date of that sector, we probably only will enter if we see somewhat more convincing evidence that prices are moving up about so that we're seeing the fundamentals getting in to play, but sort of the market dynamics not yet. we're waiting for that to really move in there. >> thanks for that. u.s. futures pointing to a positive start. just about the end of the show. "squawk box" up next. tomorrow we have something special for you. [ female announcer ] e-trade was founded on the simple belief that bringing you better technology helps make you a better investor. with our revolutionary e-trade 360 dashboard you see exactly where your money is and what it's doing

sharon epperson is at the nymex with that angle. >> the biggest gain eer commod y commoditied today was natural gas, almost up 5%, nearly at $3.50 right now. the big gains we're seeing in natural gas, a lot of traders early in the session attributing it to colder weather forecasts out there for the rest of october. but some traders saying it looks like at the start of the quarter, a lot of folks wanted it to be in natural gas instead of crude oil and made that allocation early in the day and continued the momentum buyers coming in. heavy volume in this. we're seeing five straight days of gain. phil. >> thank you very much. >>> gold today moved higher. it hit an intraday high earlier this month, though it's considered the worst month for the metal on average. fourth quarter has been the best three months for the s&p on average going back to 1980. which do you want to own for the rest of the year? i feel like i'm leading the witness here. gold or the broader stock market in let's start talking numbers on those two. technical side, carter worth. on the fundamental side, john stevenson, wit

speculate in commodities and gold and silver and that kind of thing. >> judge jeanine: now, i don't have to buy your book because you just read it for me. >> mostly try to be a genius and try to jut think the market is how you do it. >> judge jeanine: in this day and age the white house came out with the the numbers and said unemployment is 7.8 even though this has been over 8, can you make money in this environment? >> yeah, my gosh the stock market is doing fantastically unbelievably well. there has been astounding jim uptick in real estate inding certain parts of the country. amazing real estate rally in some parts of the nation's capital and in south, florida. the real estate market i think is recovering unless something comes along to knock it down. there throw the football is a recovery in real estate coming and it could be a doozy. i could be totally wrong but we have such a push from the federal reserve it could be a substantial rally. >> judge jeanine: what is scary is that it doesn't feel that way. some americans have lost their home and they are out of work and working two job