. >> jim paulson, brian, the wells capital management said two days ago this could be a multiyear spectacular buying opportunity for these oil mains getting walloped. positive mandy's point and her question to you, should people be buying oil stocks at 30%, 40%? 0 molecule driven society and will be for some time? >> looking at energy, definitely should be part of a portfolio and more importantly as well, looking at this, it's easy to get good on an economic growth perspective given the fact you still haven't sorted everything out in europe, still seeing fears of slowdown out of china as well. laying that all in together, yes, having energy is part of an al low vative portfolio, clearly the case. lawyers, recommending -- >> not really answering the question. at what point do you see a big green light brian saying, okay. we might not be at the bottom for energy stocks stocks. a lot of other ways to play this. like the discretionary names, look in industrials as well as other corollaries ways to play that. >> brian and steve, a pleasure. >>> mandy, before you -- a quick reminder. got to remembe

joining us now on the cnbc news line is jim paulson.a relatively smart guy which is why we call you. your take on the move not just today but yesterday. >> i have a couple of comments i would throw out. i think first comment is i think oil is kind of behind all of this. the continued weakness is throwing off the idea of the global economic slow down getting worse. and what i think is interesting about the commodity market is mainly energy. if i look at the s&p nonenergy commodity price index it is flat year to date. it's not down it is flat. if i look at goldman sachs industrial metals index it is flat year to date. nonenergy commodity is up by about 4% to 5%. i think this is a one off in energy that has more to do with the dollar than anything else. and what i noticed today which might be the start of the beginning trend is the dollar is peaking out for a little bit. the dxy is off. it is now basically flat for really since it reached about that 88 level in early november. and you see the euro rallying and the yen rallying. that might

jim paulson, yeah. >> we are now just two short weeks away from christmas.uys done gifts, everybody? >> there's a lot of online activity in my house. >> but you're not -- >> not part of it. >> you're looking at that credit card, right? >> yes, i am. >> christmas and online shopping retailers are trying to clean up this holiday season. analysts are thanking the mobile world for a lot of their profits because joe using apple pay to buy everything. here to take us inside all those numbers, the executive chairman and co-founder of comp. good morning to you. mobile, mobile, mobile is apparently where all the buying is happening. when people say they're buying on mobile, where are they buying? are they sitting at home using their mobile phone instead of using a -- a desktop or going to the store? i mean, when we keep saying mobile versus deck top, how are we thinking about that? >> yeah. so i think both are happening. certainly these devices are being used while the consumer is in the store. to check prices and even find the lowest price. and sometimes the purchas

on the markets, jim paulson, chief investment strategist at wells capital management. i don't know. i was not channelling you, jim, or just you, but you remember i was nodding when you were talking a week and a half ago about how almost everything positive of which there are many things, all the positives were pretty well nope known by the m, which is different than it's been for the last two or three years. the market likes to go up when the negatives are well known and takes a breather when it's down. we are down 4 or 5% since you were on. >> yeah, i think, you know, joe, it's significant. we had essentially three, you know, at least minor corrections now since june. this is the third one. and we're sitting here this morning about where we were at the end of june, and so it -- we are doing -- starting the process of refreshing this bull market, if you will, by basically going nowhere in the last six months and getting some minor gut checks along the way. that's the type of thing that refreshes some of the challengesment one is being too optimistic of sentiment. another one being, y