Howard: We're in such a great bull market, but it's likely overdue for a pullback

Now you believe that the markets overbought. In your mind, does that mean that we are set for a pullback as the historic trends tell us? And if so, what do you do then? Are there opportunities in either stocks or sectors? What would how would you play it? It's really tricky at this point, Frank, because you're in such a great bull market. The trends clearly up, buybacks are pullable. But yeah, the markets kind of run ahead of itself on a technical standpoint. It's probably overdue for a modest little pullback. I don't see anything dramatic here, but I think it'll be a Bible pullback. And we've had a great first half of the year. We got two more trading sessions before this quarter's over. We move into Q3. There's a lot of great things going on. I think we're we're staying bullish. You know, I saw the other day that Goldman Sachs raised their estimate on the S&P what's a 6100? That's a a pretty bullish call. And I couldn't I, I can't disagree with that. I think that's where we're where we're headed. All right, so funds rest Tom Leone last call last night, making the case for the S&P 500 to essentially triple by 20-30. I want you to listen, get your reaction when you get to your prime years, 30 to 50 year, you know, Urban Institute shows you start to borrow more money, you're making big life decisions. This is what powers the economy. On top of that, we have a really a big opportunity for US technology companies because of AI, which is supplying the global digital labor because there's a global labor shortage. So these two forces are combining two, I think power almost a decade of extraordinarily good stock returns. And just in context, I think we all know Tom Lee is a big bulb. Vance, I want to get your take on his take. I think I couldn't agree with him more. And another thing that is not being talked about too is you look at the Russell 5000, there's not 5000 stocks in the Russell anymore. There's about 3400. So there's less and less stocks that are being bought by individuals, less and less opportunity. So there's more concentration in the market, which is going to push it higher and higher and higher. Because a lot of people don't want to own real estate or they don't want to own their own business. So their only other alternative with their retirement funds is the stock market. So I think it's going to organically go by higher. You got $6 trillion of cash sitting on the sideline and we monitor cash build up religiously. And I tell you that six trillion hasn't come down hardly at all. So that means all that money can be plowed back into these wonderful companies that are making wonderful profits and they are profitable right now. So I think the markets going much, much higher, but I think on a short term basis, to answer your question, maybe we get a little bit of a pullback here, but that's not unreasonable for the run that we've had. That's very reasonable. Vance, we got to get going. But you gave us some pics. They were mostly focused on healthcare, pharma and biotech in particular. Why are you bullish on that right now? Well, right now, I just think that markets starting to broaden out. We own all the Magnificent 7 just like everybody else. We're way overweight that too. But you got to start looking for other opportunities like, you know, even Salesforce, you know, it got beaten up pretty bad. But I think that's a raging vibe. But Merck, Regeneron, but Moderna, I think the biotech is on the verge here setting up technically if you look at the charts. For a decent breakout, and I think that's a good place that investors need to explore and look for opportunities other than just tech, tech, tech.