or maybe even go short jeffries because of these trend lines? >> i won't go short jeffries, but look to take 30% profit here. i do that across the board in stocks like apple, goldman sachs. there is nothing wrong with taking a profit. what's tough is having to reload if the market comes back, but the risk of taking partial profits is much less than if you don't do anything here defensively. again, traders, we have some of the best option analyst on the fm desk. they always give you good advice where volatility is and how to hedge your positions if you don't want to do it straight in your stock. >> i didn't see pete hand you money. >> it was earlier. >> all under the table. >> let's move on to currencies euro. >> right. i'm going with the theme that if the equity market's going to sell off here, i'm going to see dollar strength. i took a short position. we went up to roughly around 148.50 last week. my objective was around 150. we moved from 124 around january up to 150. it's been a heck of a move. the fact we came up near 150, i'm willing to tak

terry jeffries had a piece saying that has been no net increase in the building of a fence across thehe last year. they stopped doing it. that's a terrible breach of security when you think about what's going on in mexico now. that's not al qaeda of course, >> what has the media done wrong in your view since 9/11? >> i think it has really dropped the ball on continuing to investigate some of the agencies, some of what we are

jeffry picower is worth at least $1 billion after investing with bernard madoff, and cashing out right before the ponzi scheme collapsed. a lawsuit may knock him off of next year's list, but either way, the 2008 red ink bloodbath makes this list one to forget. even for those who can afford to lose $1 million an hour. bill weir, abc news, new york. >> $950 million and you're on the list. >>> that is "world news" for this wednesday. i'm charlie gibson, and i hope you had a good day. for all of us at abc news, have you had a good day. for all of us at abc news, have a good night. captions by vitac ypypypypypypypypypypypypypypypyp

jeffries: millie gibbs. you grew up together. i couldn't bear for her heart to be broken.he wasn't mine. i told darcy the facts. left the decision up to her. load of crap. you didn't trust her to make the right decision so you dragged her to the engine room and made it for her. far worse, detective. i found her shoes on the deck that morning and i didn't report it. hold on. captain's report said the master-at-arms found the shoes at 4:46 a.m. he wasn't the first person to find them. these the shoes you saw? that's right. about 3:30, give or take a few minutes. so, at 4:04 am, darcy was already dead. remember waking up the ship's telegram operator at 4:00 in the morning, grace? i would have been asleep at that hour. well, he remembers you clear as day. woke him up in the middle of the night and then forgot to tip him. valens: one lousy buck could have saved you a whole lot of trouble, grace. you want to ask him about it? he's right here. don't, stop! look, i know what you're doing. i would never hurt darcy. she was like family. would have been, if she'd married chester's co

jeffries: millie gibbs. you grew up together. i couldn't bear for her heart to be broken.he wasn't mine. i told darcy the facts. left the decision up to her. load of crap. you didn't trust her to make the right decision so you dragged her to the engine room and made it for her. far worse, detective. i found her shoes on the deck that morning and i didn't report it. hold on. captain's report said the master-at-arms found the shoes at 4:46 a.m. he wasn't the first person to find them. these the shoes you saw? that's right. about 3:30, give or take a few minutes. so, at 4:04 am, darcy was already dead. remember waking up the ship's telegram operator at 4:00 in the morning, grace? i would have been asleep at that hour. well, he remembers you clear as day. woke him up in the middle of the night and then forgot to tip him. valens: one lousy buck could have saved you a whole lot of trouble, grace. you want to ask him about it? he's right here. don't, stop! look, i know what you're doing. i would never hurt darcy. she was like family. would have been, if she'd married chester's co

jeffries has no comment in all of this.cording to sources inside ubs is being corpsed for the ubs americas job which is a pretty big title if he should get it. not just wealth management, the whole kit and caboodle. good luck to bob. >> got it. thank you, charlie. >>> american bankers say they are two of the most powerful women in banking. >>> despite the tough times in the financial industry, there have been a number of banking executives who have managed to weather the crisis remarkably well. the 5 most powerful women in banking is american banker, the annual tribute to the professional achievements of these women executives. numb er 3 and 14, good to see you. i'm going to be very frank with you. i never like this topic and i never like segments like this. we would never do something about the 25 most powerful men in banking, it would just be the 25 most powerful people in banking. we still do 25 the most powerful women. how long before you think this kind of ranking because irrelevant because we don't have to talk about

>> i was talking to craig jeffries. he said he will probably stay atline backers. hes tough. he's strong. very quick. he's got a lot of strength. i think he'll do well in college at that position. they could. they could change him to defensive end. >> a lot of talent there. hakem dermish, thank you very much. >> good for him. >> bright future. li thank you, dan. 'rweoue. omlc up, fal tributes, how local communities and people all across the country pause to remember that moment. >>> we leave you with sounds and images from today's 9/11 services. >> just a moment to reflect services held here at home and across the nation. ♪ >> robert j. fairwalter. >> while there is pain in remembering the loss, tres sweetness in remembering their lives. [ bells tolling ] >> we remember with reverence the lives we lost. we read their names, we press their photos to our hearts. [ playing amazing grace ] >> lorraine t. bay. >>> coming up, the coast guard drill controversy. >> jim vance and doreen gentzler are next with news4 at 6:00. >>> a d.c. detective apparently committed suicide after being

jeffries. that secondary group is all picking up. it's going to be a light volume day, melissa, because we've got yom kippur. when we had a two-day selloff like last week as strong as it was, especially for research in motion, you're going to get a lot of turnover. that's good for the high turnover brokers as well as the one mike mentioned. >>> where do you stand in terms of this is a pause in the bull run or start of a downturn we saw on fed day last week? >> i guess in honor of yom kippur, if you can't eat food, you might as well eat other companies. true, there is a lot of cash out there. it's going to be deployed. it's cash without leverage, which means it has a certain business rationale rather than this funny money, pay less, do a deal. the asset manager one, by the way, is quite interesting. at the risk of a profoundly statement of the obvious, as stock prices go up, asset managers' assets go up and they make more money. it's a high margin business. that's a kind of obvious one that hasn't gotten the kind of attention. the m a

we want to ask our bull, portfolio funds president, and our bear, managing director at jeffries.hen will we see down 10,000? >> i think we're going to see it before the end of the year, trish. i think we're going to continue to see momentum in earnings growth in q 3 and q 4. i think that's going to propel stocks further. it could be a bull to ride, yes, because we've come a long way so fast this year. i do think the economic trends are going to be one -- or are ones of growth. i think that's going to propel the stock market further. >> craig, i know you've been a bear for most of september. part of august, or rather august and september. are you still on that side of the equation, and what makes you most nervous right now? >> well, i tell you, i think one of the things that's absolutely been really supporting this market is really an overused term. that's liquidity. we've seen ample liquidity provided for central banks. liquidity in the form of underinvested portfolios, especially on a retail basis. number three, incredible liquidity building up on corporate balance sheets findin

i like jeffries. that's our street survivor. i'll say this because if i don't mention it i'll get a lot of e-mail. how can we not play lynyrd skynyrd music. i know where i was in 1978. i bet you don't. >> i have no idea. carey, what do you think about goldman sachs? do you think it's had its run so far? lloyd can be the smartest man in the room no matter what room he's in, but that doesn't make the stock go higher. >> i don't have a lot of money in this room, but i would not bet against it. would not short it, i mean. >> it is all about fixed incom , commodities. >>> final trade after this. could someone toss me an eleven sixteenths wrench over here? here you go. eleven sixteenths... (announcer) from designing some of the world's cleanest and most fuel-efficient jet engines... to building more wind turbines than anyone in the country... the people of ge are working together... creating innovation today for america's tomorrow. thanks! no problem! >>> help us set up our street survivors week. we ask you one year later, what is the

saying they "knew or should have known" of the fraud, like billionaire investor and philanthropist jeffry. >> sheehan: he got a statement that said his return was 950%. now, this isn't some unsophisticated rube buying these stocks and dealing in this. this is a very, very sophisticated guy. he gets a statement like that; that's off the charts. he doesn't know anything about that? >> safer: so is he a prime suspect? >> sheehan: sure. i think, not only in terms of the monies that he took out, but the records with regard to the relationship, the manipulation and backdating of trades. he had to know, or someone knew it was false. >> safer: the suit claims picower took out more than $5 billion in profits since 1995. picard is also suing another billionaire investor, stanley chais, who withdrew over a billion dollars in profits. both chais and picower maintain their innocence and would not comment, but in court papers, picower characterizes the suit as "unsupported by facts or logic." sheehan says he thinks they knew all along and simply couldn't resist the easy money. >> sheehan: i think as ev

jeffries raised the price target from from 28 to 24. let's go down to bertha at the nymex. >> thanks very much, brian. as erin mentioned at the top, we are seeing a rebound in oil and commodity prices this morning. this day the story is as the dollar goes so go commodities. with the dollar peek peaking and the euro spiking, that's also positive as far as the upside for oil. we have the expiration today of the october contract. so that could add a bit of volatilit volatility. the saudi minister does not see a need for opec to raise production or cut production. one of the other things folks watch is whether they are adhering to their quote to. looking at gold it is bouncing back. closed again yesterday by 1,000. this marx the third session trading above the 1 k mark. rick santelli onto you. >> it isn't a lucky seven. ing-the-unless you're long on sevens. i'm talking about the major currencies and futures. the yen, aussie, pound, you'eurd swis franc. if you look at some mores stow take, the asian, you'll see more. after the dollar index i

jeffries has nasdaq down. broadcom got a boost from cisco yesterday and a boost on their own today. a report out of the dow jones that dell executive says they will exceed their predictions for q4. baidu is testing a wireless service in japan. keep an eye on that stock. sequenom had a treatment for down syndrome, they fired their ceo, the head of r&d and the cfo steppeded down over that data. that's down 40%. >> democrats are set to introduce their climate change bill this week, set to carbon emissions and towards a greener sources. meantime china is is making a huge play to corner the financial global market it's getting set to make a $1 billion stake in nigerian oil. 23 different blocks that may be up for discussion. 16 are up for renewal. this would put them in direct co competition with many western powers like shell oil, like chevron and a number of others. we're talking about 6 billion barrels of, fwhun six barrels of oil in nigeria. that's of course africa's largest oil producer and one of the major suppliers to the u.s. meantime energy prices here at the nymex are weaker acr

thompson reuters and jeffries with the first commodity equity benchmark. this is come m.d.ities future trading commission. the futures trade ppg this is a way to playoff these futures market. they are here in person. all right. let's start with the big question right when they're about to say investing in commodities futures can be seen as speculation and a bad thing and they're going to have to start to curb it. you're coming out with a play to play the futures market. any concern of, oh, gosh, we timed this one wrong or does it work within the new system? >> it's right. look at this way. these are equities. the problem with investing in futures is three fold. the government doesn't do it if they want excess speculation in the net marketplace. there's not much liquidity. it's only $150 billion. it's less than the market cap at google. and the third thing is, you know, clearly, when you invest in futures, you have to roll that investment for regard every month. it expires every 30%. that's 10% a year to roll forward to the next futures contract. >> so is t