what else does fitzpatrick get from the chart? evy time it got to the range, it bouncednd came back down. sobefore june it was range bound and the resistance is the 200 day. the stock could go no higher. llers starting to unload the shares. you see th over andver again. ery time it moved up to near the 200 day, the sellers came out and on june 22nhe stock fillbrokeut above that key moving averagen high volume. now remember, volume like polygraph for technician highume means the move is probably telling the truth. traders love these breakouts. as evidef much better things to come. i thinthey should come with miranda warnings. there's more, june 25th, mccormick reported the second quarter whichven though it beat on earningsy a penny was nevertheless a crumby and disappointing three-montreport card. what hapned in the stock? well, you can see. there was a quicll-off, and then the stock briefly trad below the 200 da okay? and th, boom. rit ck above. right back. it closed above the 200 day. it's been moving higher ev since. fitzpatrick

i will throw this to dan fitzpatrick.on't know if you ever read the "new york post," this guy running ut, george david is his name, is embroiled in the most incredible. everyday in the "new york post," he gets a full page or two, the ex-wife a swedish model, girlfriends around, flying here and flying there, how the hell can this guy run a company? i want to rant a little about george david, i've been waiting for people to pull the plug on him. they report ut like this was a normal ceo. it's not. >> i wouldn't want him running my company but i'd like to be invited to his christmas parties. >> yeah, they're fabulous. >> i'm getting a dennis kozlowski moment here. i can't speak to his ability to run the company. way out of my league. a publicly trade company, why do you need a problem like that? there has to be a ton of people just as qualified to run my company. i wouldn't want my ceo on the front page of the paper everyday. >> i'm surprised. this is a society story butles a business story. let's not get hung up on this. ne

. >> all right, dan fitzpatrick, come to you on this. you heard david sourby on this, first of all, give me a quick response -- i want to move on -- but give me a quick response. david thinks the alcoa story is a rather constructive beginning to an earning season that could be more constructive than the pessimists think. where do you come out? >> i err on the pessimist side simply because you can't keep containing costs and expect the market to buy it as growth. as you know, that's a different deal. but i do find it a little bit ironic that the markets reacting positive -- positively to alcoa because it's cutting costs, yet at the same time what are we doing as a nation? we're spending just as if we had the money that we're spending. >> fiscal nympho mania, no cost cutting from washington, that's for sure. >> really that's one of the reasons why i'm pretty pessimistic about the market in general right now, not to take you off your game where we're going right here. but the bottom line is, i think the market and the individual investor is

fitzpatrick thinks lvs is a buy based on the technicals. he sees a huge break out here.e breakout. this is a very important move for him, okay? he doesn't think it's finished. las vegas sands originally broke above its 200-day moving average. that's what we're looking at. that's the long-term measure of a stock's trajectory and what money managers love to see and a lot of these guys have charts in the desk drawer, believe me. fitzpatrick loves the fact that the stock has closed in on the $10 level without breaking down because $10 is where a lot of lichlt sell orders live. -- limit sell orders live. the fact that the stock hasn't gotten crushed after hitting the $10 level, that indicates to fitzpatrick that there's plenty of demand available to soak up all of the new supply that's unleashed every time the stock has hit 10 bucks. see? each time it failed, now, break out. and that's even if the stock's overbought. he makes a point that las vegas sands buyers don't quit despite the overbought situation. that shows incredible and highly unusual strength. as soon as mo green

now, according to dan fitzpatrick as you know is our go to chartist.he paid side of the street.com where i'm chairman and the frequent guest but not frequent enough on "fast money," technicians love to see this pattern because it confirms, that's the keyword, this confirms a bullish trend. now let's back out to the longer view. technically a golden cross happens whenever a shorter term moving average crosses a longer term, one from below to above, i know, i know, i know it's like get out the golden trail, this could be a 10-day moving average cross, there's no magic to the numbers, it's just the cross. the point for technicians is it shows the shorter term trajectory is aligned with the longer term and then voila what you should have been doing three months ago you're doing now. and you can see right on the chart. if you waited for the golden cross before you decided to trust the rally, well, you'd be four months late and a fist full of dollars short if not, indeed, a few dollars more. that's why fitzpatrick himself doesn't think much of golden crosser

hateoing against luther vandross and fitzpatrick, but a chaiair just a air and a chart is jujust chcht.tif you like mccocormrrmrmicon t technicaling, bubu hererve o or kraft on apullback. want to speak toto ranandy in arizona right now. >> caller: y,y, ccmemer, a hot phoenixx boo-yah.h. hehe c crarr weapappriate what you dooror u >> thank yo >> caller: i h he e a question ouou krerer. itit looks like e eyey'rdown 50 from aeaear ago. with the fiasco i i grain price the mess acreage a couple weeks back, i'm ndnding, do yoyou inink that's a good play? is thahaththeame agencyy that dodoesobs number? >>>> ion't know about the tter. i knowroger hada g gdd ararr. i was gogointoto recommend the ock, because i really feel ke it has t best fundamentatalsofof any supermar. it did nototreactellto that last quarter, which w wores me.. i dodon' likeke to tatakey y e m one e quteter,ut i don't'thihin canmomove up. mememes sugar a and spice is not always rhter than right, whichch is why i'm aelelr ofof mcmccoicic now a buyer stay with amam. ♪ look k athihis n ♪ s so esesd with inspiratioion ♪ i don't kn

for a little technicaca analalysisfofoa little prococate thinking, i asked dan fitzpatrick, our g go-to technician, ouour lllleae at real money, to t telmeme h opion of this chart, thehehahart of the obama a accouababity chart, just to havave meme f fun, to o e e ifhe anti-business etetic continues. his conclusion -- - isis ithe 0-day momovingvevege -- i didn't memeano obscure that. short-term technical meaeasure it could be hehead a as w as 84. wowo that's a nasty tumumbl that's the technical c cas wewenow that in this markeket at we can glean from the e char often anticicipas s thfact. we'r'rfufundentalists. as for the funundantntalthe problem isn't the presesenent' agenen o or iorities seem anti-job. if the econonomy we e althy i uld be supporting moststf f thesese pocici. i i kn m mospersons americans do. but that's notot t b bacdrop. right now w thisatatn's central probobm m hanothing to do with ergy or verizon or heaealt rereit's about jobs. i know president obaba i is smart guy. he hasas a tdedey -- and i hate to make thisisomompason -- to ke his eye off the balall keke jimmy. ji

. >> dan fitzpatrick, you don't see it that way. i'm calling it a new bull market, i know you want to sort of take my head off. go ahead, dan, what do you do here? >> from a traders standpoint, i think you want to buy. 2010, not so good. i've been telling everybody you got to buy stock. i like tech resources. bank of america, also still got some legs. you got to go financial, technology. it looks a little heavy to me. but ultimately, i hate to say it, i have to be bullish. >> find a bank you hate and invest in it. bill smead, what's your take. >> large cap technology, stay with it 5 to 7 years. >> oh! >> it's incredibly underowned. we have a huge slug of ipos you're probably right won't happen until next spring. notice the chinese, they're dumbing massive ipos on to their market. nobody talks about the bear market rally. that this is bear market rally, in our opinion. >> thank you, gentlemen. >>> coming up straight ahead. obama-care is a big red flag for stocks and jobs. i think the worst of it comes next year. we have steve moore,

bill smead here and dan fi fitzpatrick and others as well. i want to ask you about this, mr. smead, when it comes to apple and the google voice ap and reship wilationship with at concerns about this but active white house, et cetera. >> i find it amazinamazing, sta with a cell phone in 1990 and paid 5 or 600 dollars a month and all i got was a chance to make phone calls to people and receive a few. now, i get all my home and work e-mail, all my stock quotes, all my calendar. >> it's much cheaper. >> it costs me $97 a month. i have three or four companies constantly begging for my business. i do not see any concept whatsoever of a lack of competition. am i being hurt? it's about the best value i get in my life right now. >> that's a good discussion. >> to kevin and the price of oil, it's creeping up. what is going on with oil? we're worried about it because it could short circuit the rally because it could hurt the consumer. >> maybe we should blame the speculators for apple. >> i've been talking about this all week with the whole talk of let's turn it all on speculators, all

let's bring in rich peterson, director of markets, credit and risk strategies and our great pal dan fitzpatrickresident of stock market mentor. dan, start with you. what do you make of the m&a? it my favorite m&a player so far is the u.s. treasury department. but will there be anything going on in the private sector? >> i've got to tell you, larry. i love the amazon-zappos deal. if you look up customer service, you'll see a picture of them there. what i'm looking for is big company mergers, acquisitions. the smaller stuff seems to be a little bit of that in the pipeline where credit is a little bit easier to get, just because the deals are smaller. but to me, at this point, it seems like you've got to look at the m&a market as more informative than predictive, because it just tells you that these companies with big war chests are opening up those war chests and putting cash to work. >> rich, dan hit on the point that is a concern in m&a market, which is you may want to do a deal, but do you have to have the cash in place, or is there any credit out there? >> i thinkhat we have seen from capital