Mar 15, 2011|
Tony Ogorek; Ogorek Wealth Mgmnt
Automatically Generated Transcript (may not be 100% accurate)
Wall Street bracing for a meltdown of its own today because of worries in Japan. Let's open up the WB Ian lifeline to Tony of gore from Al -- wealth management in Williams -- morning Tony. Everyone's saying there's going to be a big selloff on Wall Street opens what about you. Well the futures are off about two. 200 point -- so ultimately indicator. You know an open that would be our probably. You know about 2% herself. It totally. If you finish line of our listeners that there is a big sell off this morning why well as a reason for why not hold out of the stocks. Well you know these the market and banking -- -- no question creations and don't forget. -- it's -- up. I think probably innocents. Since August. Maybe yeah. You know 20/20 4% so we can't fairly significant move that much of pulled it. I think a lot of times people try to ascribe. You know normal market action which would be in achieving it'll move like that you expecting -- of that -- And you know describe any any other type thing but is there are some issues. People have concerns about for example. The Federal Reserve is spending a lot of money and in order to -- -- it's happening. And there program. Buying treasuries and crying about 7% of the new tragedies that are being patient and government. That's -- so again in June. So the question is what is going to happen at that point. In other words our interest rates on July -- in order to attract more buyers because they're -- they're buying great. I'm so in the event that happens on the market for -- and what it could be concerned about their. Second thing with -- and situation. It could be anticipating it there's going to be some degree of economic fallout from it. I think is probably more than and interest rates concern. If there's an engine issues out there -- it's really hard to say. But licenses. I don't think it directly tied to you know Japan. You know at this point. Is jurors' sense telling you that this is a short term thing or what what is your advice for investors. The very much so I think short term thing what happens you know over the past month officials that we -- increasingly violent moves in the market. And -- you know for reasons which we really don't know it's actually up 201 days count 200 another day. So I think look at indicates that the patient. Uncertainty out there. In terms of color policy in terms of a chicken with the deficit. We can't swap what numbers -- great. And the concern was that maybe the academy isn't as strong as people hoping it's going to be. And and then it is so in the international news and again when -- experience certainly out there on the market just -- -- to the tension. They're moving as violently so my advice to people with me. You know other than the market may go to -- You know total a thousand points perhaps comics from which we compete at some point -- you know the next. 345000. Points. I'm going to be -- upside -- the -- so my advice would be really. I'm you know just try it out we can't tremendous move -- since march of 2000. And you must be very practical people and beer. And I basically just to you know continue to hang in there. Tony if there is a big sell off this morning and the prices of stocks goes down. Is that very likely that the same people selling off this morning could be buying back this afternoon or later this week. That's you know if -- one here for 2% declined. I don't think it would be. -- -- very significant licenses. You know in the that we can't. You know a 1015100. Point pullback. You know they're pointed at me you know generate some. Innocent selling to people and perhaps an opportunistic and I think at this point. You know we get -- You know. Let's -- significant movement. Nor is triggering like him. Tony thanks for joining us is why we appreciate the insight. Okay gases. Cryptic YouTube Tony Al Gore from Al Gore wealth management.