RUSH TRANSCRIPT Charles all ░░░░░░░░ folks we got that ░░░░░░░░ punch right The CPI ░░░░░░░░ The question now what ░░░░░░░░ next Joining my korean ░░░░░░░░ and Jim aryan What ░░░░░░░░ now It was not ░░░░░░░░ just the CPI report ░░░░░░░░ was James bullard s ░░░░░░░░ later in the day ░░░░░░░░ had to be calculated ░░░░░░░░ don t think someone ░░░░░░░░ top of his head ░░░░░░░░ on Twitter posted James ░░░░░░░░ woke up and chose ░░░░░░░░ today The market got ░░░░░░░░ Charles laughter They re ░░░░░░░░ us very clearly the ░░░░░░░░ people call it the ░░░░░░░░ price index underestimates inflation ░░░░░░░░ that says there is ░░░░░░░░ there must be a ░░░░░░░░ They say they re ░░░░░░░░ about it I wonder ░░░░░░░░ serious they are in ░░░░░░░░ face of declining stock ░░░░░░░░ There is nothing yet ░░░░░░░░ declining stock prices I ░░░░░░░░ they were willing to ░░░░░░░░ stand a 20 correction ░░░░░░░░ they blink But they ░░░░░░░░ definitely telling us they ░░░░░░░░ serious here It is ░░░░░░░░ interesting times Charles Ryan ░░░░░░░░ re serious and act ░░░░░░░░ right They will wait ░░░░░░░░ March I mean they ░░░░░░░░ t take any action ░░░░░░░░ Instead to be able ░░░░░░░░ jawbone the markets is ░░░░░░░░ of the arrows in ░░░░░░░░ quiver Certainly it is ░░░░░░░░ today but are you ░░░░░░░░ with the way the ░░░░░░░░ is handling all of ░░░░░░░░ Well you knew they ░░░░░░░░ going to be behind ░░░░░░░░ eight ball the well ░░░░░░░░ right Come on Last ░░░░░░░░ with the transitory inflation ░░░░░░░░ now here we are ░░░░░░░░ the highest level since ░░░░░░░░ So I expect you ░░░░░░░░ had a tepid fed ░░░░░░░░ expect more of the ░░░░░░░░ I think you have ░░░░░░░░ bank out there falling ░░░░░░░░ themselves to say oh ░░░░░░░░ will be seven rate ░░░░░░░░ this year eight rate ░░░░░░░░ this year I think ░░░░░░░░ fall short of expectations ░░░░░░░░ me the economy will ░░░░░░░░ hot and they will ░░░░░░░░ real it in which ░░░░░░░░ probably pretty bullish Charles ░░░░░░░░ of which I think ░░░░░░░░ re set up for ░░░░░░░░ short squeeze Tons of ░░░░░░░░ have been on Check ░░░░░░░░ the big hedge funds ░░░░░░░░ Getting to the point ░░░░░░░░ time we were at ░░░░░░░░ level we saw a ░░░░░░░░ squeeze Jim on Twitter ░░░░░░░░ bought March calls on ░░░░░░░░ you think Are you ░░░░░░░░ anticipating looks like we ░░░░░░░░ it almost earlier today ░░░░░░░░ bullard opening his mouth ░░░░░░░░ big spike to the ░░░░░░░░ even a trading spike ░░░░░░░░ am thinking it is ░░░░░░░░ I actually bout 4620 ░░░░░░░░ on S P I ░░░░░░░░ if we move through ░░░░░░░░ when you try to ░░░░░░░░ out where the short ░░░░░░░░ is going to happen ░░░░░░░░ me I love a ░░░░░░░░ short squeeze you have ░░░░░░░░ rely on technicals That ░░░░░░░░ been a couple highs ░░░░░░░░ the last few months ░░░░░░░░ believe if it gets ░░░░░░░░ that people may throw ░░░░░░░░ the towel on these ░░░░░░░░ When I put them ░░░░░░░░ has not been a ░░░░░░░░ trade so far But ░░░░░░░░ is in anticipation until ░░░░░░░░ I have until next ░░░░░░░░ If if goes above ░░░░░░░░ the squeeze could happen ░░░░░░░░ Ryan you see hedge ░░░░░░░░ flows picked up and ░░░░░░░░ ve been right on ░░░░░░░░ value growth thing You ░░░░░░░░ emerging markets Is this ░░░░░░░░ you should remain You ░░░░░░░░ speaking my language Value ░░░░░░░░ this year No pain ░░░░░░░░ gain no pun intended ░░░░░░░░ the fall at end ░░░░░░░░ the year it is ░░░░░░░░ to buy value It ░░░░░░░░ a good time to ░░░░░░░░ it Now you re ░░░░░░░░ that dispersion Look at ░░░░░░░░ starting to weaken Growth ░░░░░░░░ in emerging market they ░░░░░░░░ be just as good ░░░░░░░░ the U S they ░░░░░░░░ so much cheaper I ░░░░░░░░ year of value and ░░░░░░░░ of international Jim you ░░░░░░░░ a bold man with ░░░░░░░░ calls Give you props ░░░░░░░░ another story dovetails into ░░░░░░░░ and policy We re ░░░░░░░░ homebuilders That is the ░░░░░░░░ stuff Jim Dave chappell ░░░░░░░░ spoke out against a ░░░░░░░░ funding project in his ░░░░░░░░ Vowed to pull other ░░░░░░░░ This is in Ohio ░░░░░░░░ shut down the project ░░░░░░░░ is not about nimby ░░░░░░░░ se This is about ░░░░░░░░ to have all the ░░░░░░░░ make them densely populated ░░░░░░░░ people are saying Dave ░░░░░░░░ is a bad guy ░░░░░░░░ move out to the ░░░░░░░░ areas for a reason ░░░░░░░░ t they It is ░░░░░░░░ intellectually lazy look at ░░░░░░░░ video because he opposed ░░░░░░░░ development is a bad ░░░░░░░░ I opposed several developments ░░░░░░░░ my town Not because ░░░░░░░░ don t want low ░░░░░░░░ people living around you ░░░░░░░░ look at density of ░░░░░░░░ area how traffic patterns ░░░░░░░░ be how many units ░░░░░░░░ ve done this I ░░░░░░░░ through this before People ░░░░░░░░ it particularly he got ░░░░░░░░ press last comedy routine ░░░░░░░░ told you he is ░░░░░░░░ bad guy It is ░░░░░░░░ nonsense Charles Ryan don ░░░░░░░░ worry about it They ░░░░░░░░ never do it in ░░░░░░░░ hamptons You re cool ░░░░░░░░ Jim thank you very ░░░░░░░░ Thanks Charles Charles takeaway ░░░░░░░░ today s session also ░░░░░░░░ sifting through these ashes ░░░░░░░░ these oversold names Don ░░░░░░░░ go away.