joining me today is mark newton, the chief technical analyst, and erin davis, erin, what do you think the market overreacting? what is the outlook for ups right now. >> thank you, bill, do i think the loss is a big embarrassment for ubs. while ubs is right to point out that it's due to nasdaq's operational failures, we didn't see this loss from any other major investment bank. i think that ubs's explanation that it didn't get confirmations on time, that it kept pushing the buy button, it makes them look amateurish. >> a lot of people looking amateurish that day. what is the silloff due to the chart, what do you you think of the stock right now. >> the stock started to strend down in march. . since then, the stock has been lower with a trend of lower highing and lower lows. although it's gotten down, technically it's tough to argue that a real low is in. if you go to a longer term perspective, the stock is down 80% from it's lows, it's important to point out that today will mark a new monthly closing low, really since 2009, although the stock seems oversold, it's tough to pick a low. a

we have mark newton with me here, on the fundamentals side walter pisic, good to have you on the program. let's look at the chart of apple, what does it tell you? >> it's still bullish. i think it can get back to april highs. they had a correction similar to the market, but in the last couple months you have seen a pattern of rising lows and rising highs. they're trading better overall. >> so you're telling me to buy it right here, you think it goes up after the numbers? >> yes, anything above 614. it's been really parabolic since last year. it has not shown the deterioration. that's the key take away. if you want to see a real correction, you need new two or three month lows. it's still very good in my opinion. >> walter, let's talk about what we heard this morning, did the results out of at&t tell us anything about apple? >> i think it gave evidence about what people have been concerned about since the last quarterly report which is the upgrade rate. it's a all-time low for at&t. it underperformed the market for awhile. the recent rally has been with the market, and a lot of analyst ha

on the technical side of things, mark newton, chief analyst with gray wolf execution partners and codyliams financial group and good to have you both with us. thank you so much for joining us. >> thank you. >> let's talk about intel. earnings reports in a little while. what does it look like? >> it's getting to the point where it makes sense to buy, like a good risk reward opportunity over the next couple of months. weekly charts and stock has fallen 13% from the may highs, we have broken up trend lines and that is a short term negative as we're getting down to the former lows. however, the monthly chart is what is attractive, if you look how the stock looks on a monthly basis, the stock over the last nine months has broken a longer term down trend line and kept the stock dormant since 2002. we've seen a long term down trend basing area that's being exceeded. so the stock is starting to pull back to levels where it's looking attractive. although the near term is dicey and the southern conductor group has been one of the worst within technology, the stock is looking increasingly more at

friedman said he stood on the shoulders of giants as the six newton said and i feel the same way for all of the economist who come before me to seven mark skousen where are you teaching? >> at mercy college and also of the penitentiary and was teaching at colombia teaching at maximum-smaximum-s ecurity prison they have the incredible thirst for knowledge. it is unbelievable these men who have committed crimes in their youth tried to turn their lives around. i have students who read the entire book before coming to class. my wife teaches literature. of four year college degree program all privately funded nobel grants or federal or state money. my son tim native bill o% that will be on nationwide tv that describes the sing sing education program. >>host: what is that experience like? >> this emotionally a thrilling and rewarding experience for my wife and i. to teach these people who have committed heinous crimes, murder, see the error of their ways. the education unprocessed and the ministry program. they bring in of major name for the graduation ceremony like warren buffett because his sister is a major supporter. it is incredible. the

newton. here's it's unprecedented with mark emmert because there was no committee on intractions process. there was no due process here to penn state but we are in uncharred waters because the circumstances of penn state, not just the crimes but the cover-up, how it was concealed by joe paterno and the leadership of penn state, that's what the ncaa is scrambling to get in front of, if they can. >> michael, i want to talk about the removal of the statue, the symbolic move. i want to read part of the statement from president rodney erickson because it seemed to be the first time you heard somebody representing penn state sort of understand the gravity of the situation publicly at least. i believe that were it to remain the statue will be a recurring wound to the multitude of individuals across the nation and beyond who have been victims of child abuse. well, i'm going to stop you there, michael. we're going to the announcement. >> highest levels of the university in reckless and callus disregard for the children. there is incredible interest in what will happen to penn state football. but t

newton said. i feel the same way, but i benefited so much for all these great economists who have come before me. >> mark skousen, you said that you teach. where are you teaching? >> i teach at mercy college and also one at sing sing penitentiary. i was teaching at columbia university. teaching the best and the brightest. i will tell you what, i teach in a maximum security prison. they are all male. i teach economics and business, they have an incredible thirst for knowledge. it is unbelievable how these men have been in prison and committed crimes in their youth, not trying to turn their lives around, i have had students at sing sing who had read the entire textbook before coming to class, and i could not say that about others. my wife teaches english literature at sing sing. it is a four year college degree program. all privately funded except for the prison itself. no pell grants or federal or state money, we have a nonprofit called hudson link that deals with that. it actually describes the whole sing sing education program. >> what is that like in education. >> well, i will tell you that it is such