believe will be impacted with the ten-year going up 50 basis points >> well, that brings me to jim lebenthal, farmer jim, because he told you coming into this year he was going to make some cuts in certain parts of his portfolio, at least trimming positions. he did it with apple and told us that already as that stock hits $3 trillion in market cap earlier in the week and lebenthal takes it off the table and he's doing it in alphabet. yes, he still owns it and it's a smaller rating than what it was because he continues to raise cash positions and he's in that little box in the bottom of my screen why don't you explain the move >> you got it, scott i really listened to what rich just said. he's my kind of guy and he's an old school fixed income guy. i love rich. here's where i score the circle. i am trimming and i'm raising 10% cash and i'm at 9% ratight now. i'm not trying to be anybody's hero it will increase as the fed stops njecting cash into the market by volatility and i don't want to trigger pete on this, by volatility i mean the depth and size of a drawdown can occur i think we'll get

do you agree with jim lebenthal that we have bottomed and we did that yesterday >> you know, actually, part of the reason i took it off is i spoke to jim after the show yesterday and i bought some facebook after the show so i expect some pop. i didn't want to get biggish the shorts worked out extremely well i'm still only 55% invested i'd say at this point and rather than shorts i have a lot of cash because i've shaved a lot of positions. i don't know that we bottomed. i tend to think that we haven't, and the reason i say that is that the market's got to get accustomed to us being in an extended tightening cycle and yes, stocks go up in that cycle, but this is an unusual time and it's not a fed cycle where the fed tightening will have an immediate impact on inflation. at least that's my view because inflation is caused by the supply chain and not only demand, and i think at this point, part of the wealth effect has driven inflation as well so the fed doesn't care about a fed put. no such thing exists in this market going forward and we have to think about how we got to where we are an

down 243 the dow down about 500, bit 1/ 1/3%, and rates are on the rise jim lebenthal, i'll turn to you first, you told our producers you think this could be the week, the week that it breaks down >> and it is the s&p 500 it has broken down it you have even a modicum of attention that you've paid to valuation you're not getting your rear end handed to you. it's really the s&p 500 that if you're a diversified investor you're paying attention to so here's the deal it's been 15 months since you've seen more than a 5% decline in the s&p 500. every dip during those 15 months has been bought and i believe that that's the cash that the fed has been injecting into the financial markets. so with the fed pulling back, this is it if we get down to 4530 on the s&p 500 which is 6% down, then i think we are getting that 10% correction which i've been calling for this quarter and, frankly, i believe it's going to happen i also believe it's healthy. trees don't grow to the sky and it's about time that investors realize that valuations matter and volatility does show up in the form of a correction at le

joining me for the hour, degas wright, bryn talkington, jim lebenthal, steve weiss, and john najarian co-founder of marketrebellion.com. the dow is up 470, real interesting market activity since the fed chair made the decision, made his speech yesterday and certainly answered questions at the press conference there's the s&p, good for nearly 50 that's better than 1%. the ten-year note yield is at 180. so we've had a tick-up in yields since the meeting. rob sechin, i don't have you for all that long today, so i want your thoughts on what we should be doing in the market now that the fed has spoken >> i think any time you have a volatile day and when i mean volatile i mean to the down side you have to take advantage of that and it's something that we recommended to our clients on monday that said, i think you have to be mindful of the fact that his job is not complete and there's likely more volatility to come he's naturally going to be data dependent. that's what he talked about. my sense is that this -- that this is a man who is behind the curve and he needs to make sure that markets

here for the hour today, sarat, jim lebenthal and joe teranova and pete najarian, co-founder of market rebellion.com s&p 500 up 1.5%. the nasdaq with a nice gain into the fed meeting up 300 points. the ten-year note yield at 178 jim lebenthal, you know i'm starting with you as i have been lately because you're the one who called the farmer jim bottom and that's what i'm calling it until it gets breached and it has not. last night you tweeted you're still comfortable making that call >> i feel good about it, scott first off, thank you for having me on the last three days. it's obviously been an important period of time on monday when the s&p 500 was down 4% that felt like the washout capitulation and that's why i made that call obviously, we're higher than that now i don't think we go up in a straight line, but i don't think we go back to those lows and the reason is simple the economy is very strong and what i point to on that is capital expenditures it's intel last week announcing the building of a $20 billion plant in ohio. it's general motors saying 7 billion plant for electric vehi

steve weiss is trimming a jim lebenthal stock.on't think it's just to make farmer j m, imadbut it might be. we'll talk about that as well next ♪ ♪ ♪ digital transformation has failed to take off. because it hasn't removed the endless mundane work we all hate. ♪ ♪ ♪ automation can solve that by taking on repetitive tasks for us. unleash your potential. uipath. reboot work. want more from your vitamins? at nature's bounty, we give you more. more immune support. with the only vitamin c that lasts 24 hours. more restful sleep. with the first-ever triple action sleep supplement. we put more of our brains into helping your heart. we give you more wellness solutions backed by rigorous science than we ever have before. nature's bounty gives you more, so you can live bountifully. >>> welcome to the etf portion of the halftime report i'm bob pisani inflation-fighting etfs are all the rage and let's talk about that with kevin o'leary chairman of oshares kevin, with inflation such an issue and how are you positioned and what should investors

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making key moves in the portfolio and you don't want to miss those kerry firestone along with jim lebenthalys and pete najarian, co-founder of marketrebellion.com. >> the nasdaq under pressure and almost a triple-digit decline and 96 points to the down side and the s&p is basically flat, down a few and farmer jim, i start with you i'm wondering whether we could trust the bounce in tech over the last couple of days. we are going for four up days in the nasdaq and we have work to do in this moment. you've gone now to mr. all in to mr. sitting on my hands. you do still think we'll have a correction >> i do. i'm sticking with that call. obviously i look at last few days and i wonder if i'm right, but the last few days feels like a pause in what will be a steady rise in interest rates and i don't think it's a cataclysmic rise in interest rates and if the ten-year gets to two or above that it will not kill the economy or kill the markets and what it will do is knock down higher priced hypergrowth stocks. so i think that this respite we've had particularly in technology for the last couple of days

down 243 the dow down about 500, bit 1/ 1/3%, and rates are on the rise jim lebenthal, i'll turn to yoube the

johning me, stephanie link, bryn talkington, jim lebenthal and anastasia omarosa, chief strategist at. capital the s&p going for its first close above 4800 and got off to a good start and it is now below that level and you see the dow is the big winner at this moment up 240 the nasdaq is where the big selling is taking place at this very moment and a lot of it has to do with all of the way on the right-hand side of your screen 168 is where the ten-year note yield is now pushing xlf, xle, they have a great start to this year and they're continuing their rise and some of the cyclical stocks are having a good run of it g g guys, good to see everybody. i see moves from josh brown they want to highlight. josh, tell us why you sold store capital. s-t-o-r, a name you spoke about numerous times why is it not in your portfolio? >> store in and of itself is not that big of a deal and there seems to be management stuff going on there the cfo stepped down in the middle of the year and then in the last week of the year, the chairman and former ceo who we had had on the show over the years and is s

jim lebenthal, i will begin with you because it was a pivotal call

joining me for the hour, degas wright, bryn talkington, jim lebenthal, steve weiss, and john najarianfoundeof

johning me, stephanie link, bryn talkington, jim lebenthal and anastasia omarosa, chief strategist ats&p going for its first close above 4800 and got off to a good start and it is now below that level and you see the dow is the big winner at this moment up 240 the nasdaq is

what do you make of that do you agree with jim lebenthal who agreed that monday we did put in the bottom well, this is a very important day, technically, scott, because we have not yet broken the lows of monday, and if we hold up and we all know that it's the last ten minutes of the day as we've seen this week that really matters if we can hold here and not start falling through the afternoon off a cliff, that would mean we've gone through the week not breaking those lows and coming in on a friday afternoon with a decent day and technically, and i know steve weiss would say, oh, well, who cares? but i think it matters that if we can hold today and be up that would be a very good sign going into the weekend there are 235 stocks now with over 4 billion in market cap that are down 35% or more from their 12-month high. that means that over 120 of them are down 50% or more if you can't find some bargains to buy on that list, then i think professional investors really are kissing it good-bye because this is a market that offers you opportunities they might not be the perfect low, but there are

making key moves in the portfolio and you don't want to miss those kerry firestone along with jim lebenthalrketrebellion.com. >> the nasdaq under pressure and almost a triple-digit decline and

here for the hour today, sarat, jim lebenthal and joe teranova and pete najarian, co-founder of market