Money Life with Chuck Jaffe

Lawrence McMillan of McMillan Analysis says the market is oversold but it is falling so hard and fast that there is no solid level of support, and that it could fall further before it starts creating real buy signals. McMillan notes that people may be expecting buying opportunities, but they haven't arrived yet as just one obscure indicator from the many he looks at has created a buy signal, suggesting it's time to start buying again. Also on the show, Kathy Bostjancic, chief economist at Oxford Economics USA, says that the market is pricing in a recession which makes that unlikely that there is any way for the economy to avoid one amid the slowdown of economic activity created by the coronavirus. Also on the show, Kusara Barto of Squaremouth.com talks about how travel insurance is and isn't working for consumers who are thinking they might cancel planned trips, and Noland Langford of Left Brain Investment Research talks stocks in the Market Call.

Giles Coghlan, chief currency analyst at HYCM, says that while domestic investors see trouble based on the US market, the coronavirus is having a global impact on markets that is still in the early stages of being sorted out. Coghlan notes that investors who maintain a three- to five-year outlook might find themselves buying into troubled industries like oil, but that anyone with a short-term view can't call a bottom yet, which is why investors should lengthen their time horizons and consider bargain hunting. Also on the show, Tom Lydon of ETFTrends.com makes a long-term Treasury fund his ETF of the Week, Dave Du Val of TaxAudit.com discusses how Americans are struggling to know IRS rules changes, and Bruce Kaser of The Turnaround Letter discusses in the Market Call the impact of the current decline on the types of troubled companies he pursues.

Chun Wang, portfolio manager at the Leuthold Group, says that the Treasury market and credit market are sending two different messages, with the Treasuries actions signaling that the Federal Reserve must move and that recession risk is up, even as the credit market is suggesting that the environment remains healthy. Wang says that coronavirus is less of a market catalyst than an accelerator, bringing troublesome trends to the fore faster than anticipated, but he says that ithe virus economy could trigger a broad recessio in the next six to 12 months. Also on the show, Adam Thurgood of HighTower Advisors Las Vegas talks about implementing -- and sticking with -- a defensive strategy in your portfolio, Jill Gonzalez of WalletHub.com discusses the surprising number of Americans who anticipate missing a credit-card payment this year, and Brian Yacktman of the YCG Funds -- whose YCG Enhanced was the top-performing large-cap growth fund of 2019 -- talks 'enduring pricing power' in the Market Call.

David Wright, lead portfolio manager of the Sierra Mutual Funds, says that Monday's market action put the stock market into oversold territory, but he warned against jumping in now because he expects any snap-back rally to be offset by further declines before the market finds a bottom, and investors who race in could 'catch a falling javelin' if they fall for 'false rallies.' Wright, whose indicators have him out of the market now, believes the current decline is the start of a longer-term bear market. Meanwhile, George Milling-Stanley, chief gold strategist at State Street Global Advisors, believes the outlook for precious metals is promising in the face of so much global market turmoil and uncertainty, noting that he expects gold to resume its recent climb once the market steadies and he expects it to stay solid while the broader market struggles. Also on the show, Chuck talks about reacting properly -- rather than over-reacting -- to the market right now, and Adam Winslow of AIG Life Insurance discusses a study out today showing the strong emotions that can be tide to a lack of protection.

Jeff Weniger, director of asset allocation at WisdomTree Asset Management, said that the economy was slowing globally before recent troubles and the likely temporary economic effects of coronavirus, and he expects the market to see through the slowdown being caused by the epidemic to avoid long-term trouble, but only after there is more pain market pain. Meanwhile, gas prices are falling, mortgage rates are falling and there are more conditions that will help the market and economy rebound. Also on the show, Ken Tumin of DepositAccounts.com discusses a survey about consumers' financial mistakes, Kyle Guske of New Constructs puts two stocks into the Danger Zone, and Mark Travis, manager of the Intrepid Funds, talks stocks in the Market Call.

Brandon Thurber, director of the investment research group at Regions Asset Management says that current market events haven't changed his long-term market outlook, because the economic effects of coronavirus are likely to be transitory. He expects a rollercoaster market at least until election day. Likewise, Kristina Hooper, chief global market strategist for Invesco, believes the market's turbulence and the downward pressure exerted by current events, are short-term in nature, saying that patient investors will be rewarded for staying calm. Also on the show, Michael Gayed of The Lead-Lag Report -- which generated a sell signal late in January before the market started to falter -- says he is looking for the bond market to signal when it's an appropriate time to get back into the stock market, and Seth Brufsky of Ares Dynamic Credit Allocation Fund talks high-yield investing in The NAVigator.

Lawrence McDonald, creator of The Bear Traps Report, says that the global economy and business environment are poised to see trillions of dollars leave the United States in favor of international investments in the next two years, a trend that will mute the domestic stock market and make it hard to keep pushing forward. Still, McDonald sees the domestic market rebounding, so that any down action caused by the changing business climate will prove a buying opportunity long-term. Also on the show, Tom Lydon of ETFTrends.com makes an unusual real estate-oriented fund his ETF of the Week, Ted Rossman of Bankrate.com discusses the billions in unused gift cards and shopping credits that are going unspent, and Ryan Jacob of the Jacob Funds -- an aggressive-growth technology investor -- talks stocks in the Market Call.

Roger Shaffer of HighTower Advisors, says that individual investors planning their way through the current market turmoil need to focus on process and their ultimate goals rather than on the market's trends, reviewing their risk tolerance and their phase in the financial cycle to make decisions that focus on personal circumstances rather than the market. Also on the show, Dr. Ted Klontz of the Financial Psychology Institute discusses how he believes investors should change some of their savings habits to better reach their goals, Doug Roberts of Channel Capital Research weighs in on the Federal Reserve's big rate cut and what it portends for the future, and Roger Conrad of Conrad's Utility Investor talks about energy and utility stocks in the Market Call.

Jeffrey Hirsch of Stock Trader's Almanac said that while investors are focused on the coronavirus troubles and the election year, he believes the market showed its cards when it scored badly on the 'January Barometer' and other technical measures, signalling that it is likely to be flat and volatile for most of the year. Hirsch also discusses how and how long epidemics of the past have affected the market. Also on the show, author Mike Jaccarino discusses 'America's Last Newspaper War,' Nathan Grant of Credit Card Insider discusses tax refunds and credit-card debts, and Jeff Auxier of Auxier Focus Fund discusses value investing in stocks in the Market Call.

Dec Mullarkey, head of investment strategy at SLC Investments, said the market's action last week represented a 'fairly orderly repricing of risk' in the market, even though the headlines make it seem more dramatic than that. Mullarkey said he expects there to be at least a 'second leg' to the downturn and noted that he'd be patient waiting for more economic data and to see the spread of the coronavirus before he believes any rally represents a real change of direction. Also on the show, Greg McBride of Bankrate.com talks about Americans' imbalance between debt reduction and emergency savings, David Trainer of New Constructs puts a stock that is already on the decline into the Danger Zone saying it could go all the way to zero, and Dana D'Auria of Symmetry Partners talks funds and ETFs in the Market Call.