dan fitzpatrick, given all the uncertainties on the international realm, given the selloff in the market this week, some sloppy numbers, where would you put your money right now? opening day on monday. september has been a hell of a great month. where would you put your money right now, dan? >> well, happily i have a lot of it to put because i've been lightening up for the past week or so. i'm short the dollar right now. and i would continue to be short the dollar. wait for the financials to pull back a little bit to get better entry points. it's not what you own. it's where you own it. >> i'm going to give you the last 25 seconds. where would you put your money? >> i'm fine on the stock market. i think a key document is china said treat us with respect or we might sell our ast sets. they traded them with respect, moved to the g-20. they're going to raise their vote in the imf, and i think china is going to start talking not quite so hostile to the dollar. >> is the u.s. rally over or is it just staaling right now? >> we can very well have a correction or even a small price correction. w

thanks to my buddy, pal friend dan fitzpatrick, my chartist colleague at thestreet.com. fitzpatrick -- look what he looks at. he thinks the s&p 500 is going to 12,000 -- 1200. what am i talking about? which is a big move off of 1025.39, where we are now. you know what this is? you guys know what this is? take a look. you know what this is called? this is an inverse head and shoulders pattern. that's authentic jargon signifying something beautiful awaiting us. fitz tells us that this so-called neckline connects two peaks on either side of the head. this comes to 950. the difference between the low and the neckline is 285 points and that means we can run another 284 points from 950 to the s&p 500 to 1,234. maybe you don't like the head and shoulders pictures. maybe you think it's some kind of bogus hocus-pocus. no more thorough than this head and shoulders demo. here's an inverse head and -- you get the point. right? how about? based on the furthest distance from its 200-day moving average, another technical tip, fitz thinks the s&p could go up to 1,272. that's a 24% move.

we want to ask tommy williams and dan fitzpatrick. guys, great to see you. dan, i'll pick it up with you. what are you anticipating as we head into what has traditionally been a pretty rocky month? >> i think earnings obviously are going to be the big tell, but i'm not seeing from a technical standpoint. i'm not seeing the weakness a lot of people seem to be finding. volume's been increasing for the last few months as the market's gone higher. i know hooim probably supposed to be bearish here, but for equities, i think we're going higher. >> you can be whatever you want, dan. >> i love that. i really do. >> at least not today, right? >> i think we go higher. there's a big dislocation between economic numbers and the economic outlook versus the market. the market knows everything i'm saying and really doesn't care. it's kind of flipping us off. >> some people are saying the data are coming in disappointing. how big a factor is that? >> i think what you're guest is trying to say is interesting. i think we're in an era of happyness. we want some kind of model th

first, unh, which my colleague dan fitzpatrick at real money, the paid site thestreet.com, which i'mman, said this is the worst chart in the book. that is like saying that's the worst book in the library. it's like the worst fantasy team in my league, which happens to be me. anyway. this is a stock that's been trending higher until it utterly broke down. will you look at this train wreck? look at this thing! okay. every time unh rallied up to $30, sellers had come in to take the stock back down. as it went higher, each low is generally higher than the last. see this pattern? that's a good-looking pattern. that to a chartist indicates there is more aggressive demand for the stock. buyers would pass on unh whenever it pulled back to its 52-day moving average. that's called support. last end, slowly it fell below its 50-day moving average. boom. see that? it fell below it on heavy volume. and it kept selling off. remember the technician's volume is like a polygraph. it's not an extended waterboarding session. it lets you know whether or not a move is telling the truth. i believe dick ch

let's bring in dan fitzpatrick and mike williams. good to see both of you. i was looking through some of the notes that you had sent. and it looks like both of you are expecting a big scolding from the president. mike, what do you think? is his tone going to be rather scolding and offensive, you think, to some traders out there? >> well, i think politically he's going to have to show the public that he's standing up to the issues that caused some of these collapses. but i have to agree with something larry said just before you went to break. this really is more about getting back to what capitalism is all about. and i hope that the president suggests that we will allow banks to fail. we will allow this too big to fail to leave the situation. because without it, we're really not learning lessons. and, therefore, we won't do the things that are required to really fix this for the future. >> dan, you know, one of the concerns, too, is that there might be some inconsistencies here. one the one hand the government's talking about having an exit strategy to eventu

let me give you the critique of dan fitzpatrick who's a regular on cnbc and writes a column with me on real money, the paid side of thestreet.com where i'm chairman of the board. dutch master. remember that scene, that dutch master thing? like the rembrandt? cigars? ever since last october att has been building a base. okay? technician speak for treading water, actually. the stock old off to 21 in the absolutely horrendous market that was last year. this was really one of the ugliest breaks i've ever seen. people were panicking. that was the low. and for eight months every time att would pull back this year, the level bargain hunters would come in -- see, they keep coming in. every time it pulls back, bargain hunters come in. okay? but it was still under pressure as every rally to the mid 20s was sold. with its 200-day moving average marking the effective top. see, every time it got to that level, boom. sold off. boom, sold off. boom, sold off. boom, sold off. that's what chartists are looking at. it stayed below that level to the breakout. now, the breakout just started in late july.

sure enough, all four chartists, dan fitzpatrick, eisner, rick bensignor, alan farley, are in agreementthose are the guys we've been using on the show. and you know what that chart is? it's the chart