there people who are afraid to be short because of the ideas that the german, what you are talking about, the economy is slowing. they are worried about their own economy. >> it's not as easy as blindly buying anything. >> too much headline risk. one headline blurb e the stock can be down 5%. >> you have headline risk, but the stock should be down. i'm not saying the risks are not there. >> some stocks are too troubling

to even touch. >> what's your opinion of facebook? >> we don't talk much about other companies. i will reserve the right not to. >> you will not give me anything on that? >> probably not. >> queer agree on one thing. >> i want to thank you for having president clinton on. >> let's get trading. fresh from the trading floor, it's time for fast money. >> live in times square, i'm melissa lee. stocks, s&p and dow posting the best day of the year. the big winners. is this a short covering rally or perhaps something bigger. are you a believer? >> i am not a believer. that doesn't mean you couldn't have a 5 or 7% rally, but what happened today is you have in the morning looked like spain might be limping towards a

bloud. there might be conditions on that. you have the i don't want to be short ahead of bernanke's speech and you have the market down 10% off the high. a lot of stuff and you will need another shop to get it to a lower price. you might have a couple of weeks maybe into the greek elections and into the meeting like next week that there is hope out there. i would not be putting on the full positions and saying this is a brand-new market. >> you are not a believer either. are we perhaps enough above the 200 day moving average. are you rethinking your position? >> clearly not a believer. the world goes pear-shaped at some point, but we say it all the time. above 1290 which is a level we have talked about. you can stay long. i'm of the belief we have seven points or so in the s&p and what was support previously in the form of 1322 or so will be

resistant as we move higher. i think if you are bearish, this is what you wanted as counter intuitive as that might sound. at some point, we will see 12 '5. if we can get above 1312, dha easily handle that. >> what are were you trading today? >> taking a lot of money off the table. i will agree with the guys over here. five, seven, ten points. this market rally from what i saw was based on rumors out of spain. just as easy as the ruchlors pushed things higher today, rumor on the other side will push it back lower. get ready to reload. >> not a lot and i agree with them. they were back to where we were

i think. it's early june. i think this is a bounce and i do not think the all clear is theirs. it has been fixed or addressed since three days ago. >> you are a contrarian tonight. does that mean you are a believer? >> i'm not a believer in the rally. nothing really came out. rumor otherwise was justification in terms of spain being close to a bailout. spain has to accept the program. until they do and until money is put into the government, it won't go into the banks to prop up and the market will not have a rally and i don't think technicals matter. close to the greek election and that's when the worries start. greece is say side show. >> let's talk about the crazy rally. i say crazy because it's not often that you see bank of america up 7% on a single day or

citigroup up 5%. morgan stanley up 8% on a single day. financials recorded the best day of 2012. we have an interesting chart here. take a look at the correlation between the 10-year yield and financials. to quote the data person, pretty strong correlation. 68%. not bad. giovanni? >> giovanni is a good-looking man, thin in good shape. i still think you thought this tremendous headline risk and catastrophic risk in the financials and to me, one is interesting and we talked about it the other day and took black stone out. if you want to be in it, you

have a nice dividend. it sort of leads towards what black stone is good at. maybe today you see another move to the upside. >> what did you think of the fancy chart showing the correlation between the 10-year yield and the financials. >> i love correlation. >> do you? >> we talked about it today. >> really? >> he did a very nice job. i was -- there was nice rallies. look at what happened on the three-months before the rally. i don't read a lot into the rally. this discount to tangible book value is attractive, but won't be stepping in to buy stock in the near future. bank of america trading at 60 some ought percent. it was nice, but not a meaningful move. >> let's talk about something that did not participate and

facebook hitting an interday low in the session once again. 2552 is the level. the fallout continues and trying to make amends today. the exchange proves a voluntary fund to compensate and 13.7 million would be made in cash. they would be credited to a lower trading cost. here's what they had to say about why the fund is lower than many hoped. >> we're had to see the orders that many were coming into and had to make compensation for the orders that were not properly executed in the cross. we could not take responsibility for trading decisions other firms made. >> you have been short and are you glad? >> still short the nasdaq. he is in a tough position, but

that's one of the main reasons we are short the name. now it's up to $40 million. he was asked if it could go up to the figure. if this was a deal they should have slowed it up and a few months ago that was pull and everybody said how horrible it was. maybe it doesn't look as bad. we will stay short until you get some clarity on how this whole thing will play out. >> let's get more on the clients bring in sec chairman harvey pitt with his take on the situation. great to speak with you. do you believe that the nasdaq customer should be compensated pretty much dollar for dollar? they don't cover nearly all the expenses in the cost. >> i think the customer should

be compensated for more than the proposal is. the extent of losses is quite significant and people who wanted to sell were deprived of the opportunity. the difficulty is that there was no knowledge base on which we are sort of asked to evaluate what nasdaq has done. what they have done is very positive in terms of acknowledging their obligation. unless you have an independent review of how they came up with the number and why they are not compensating for more and why of all things they are going to give discounts for future trades. at least they hoped would be a positive and it's hard to get too excited about what they have done. >> i wanted to pick up on the point. that's what the new york stock exchange points out about the

nasdaq's proposal. such a tactic would strongly incent customers to overflow to receive comp stigz which they are entitled. how can they approve such a plan to benefit the nasdaq by rewarding them with order flow? >> it's going to be very, very difficult and what nasdaq has effectively done is delayed any payment because in the absence of some independent group having looked at this before they reached their final conclusion, the ball will fall in the sec's court and they will have to do the analysis for nasdaq. >> it's a regulatory standpoint and is there a difference between nasdaq and a brokerage firm compensating clients. is it separated or the same thing? >> no, it's definitely

different. here the exchange is taking responsibility and is effectively saying that people who put in orders and that wanted to trade and should have been able to trade were precluded from doing so. that's not a brokerage problem, it is an exchange problem. nasdaq has done the right thing by acknowledging it has exposure. i don't think it's gone far enough. is there anything close to a precedent and anything like this? >> i think you have seen companies step up to the plate in the past. it's hard for me to think of any precise analogy to another exchange at this point, but the problem is, there is a lot riding on the failure of this facebook offering.

what's at stake here is the ability of u.s. ipos to be done in the u.s. we finally get one of the biggest and best ipos and it's wrecked by incompetence. that's a very unfortunate thing for america. former spc chairman harvey pitt. strong language. i'm curious, are you confident? a lot of lawsuits are not from the direct confidence and they don't have much standing in court and from investors as opposed to the brokers they service. they are shielded from liability and that's a legal question. whether or not they have the money and the insurance and help them guard against this. >> that's one of the main points on why they are short.

anybody can come out and say they are shield and may well be. if lawsuits pile up, they don't want to be in the cross hairs with that. it's not whether or not they win or lose, but if they start to pile up f it turns out when the entire day is rewound and everyone sees how the ipo took place. they could be found to have more fault than this. i think again they have too much negative headlines and should crack 20 in the near term. >> 1.5% and facebook, that's the other big part of the story and i'm sure it doesn't help with the ire as well as the brokerage firms and facebook shares after new lows since the ipo more than two weeks ago. it's too early for technical analysis and all the stock does is fall. >> i thought we addressed this and did a good job.

general motors said they pulled the advertisement and all they need to know in terms of buying the stock. they said this has been discussed many times and having a lost trouble monetizing their base and their mobile applications. i think facebook should trade down to 20. nothing to stop it from trading down to $20. kwleen the right price is, but no reason to go buying it right now. >> 3.5% pop right now and it did trade to a new low. >> meantime, cnbc continues to follow this nasdaq fallout story. we will be on a halftime report tomorrow and on friday, you are talking to wapner in the first interview since the ipo. there will be first interviews there. >> falling on hard times and the sea of mattress firms, the

silver lining. he is make the case for the company and the strategies after this. mcallen, texas. in here, heavy rental equipment in the middle of nowhere, is always headed somewhere. to give it a sense of direction, at&t created a mobile asset solution to protect and track everything. so every piece of equipment knows where it is, how it's doing or where it goes next. ♪ this is the bell on the cat. [ male announcer ] it's a network of possibilities -- helping you do what you do... even better. ♪ [ male announcer ] we began with the rx. ♪ then we turned the page, creating the rx hybrid.

♪ now we've turned the page again with the all-new rx f sport. ♪ this is the next chapter for the rx. this is the next chapter for lexus. this is the pursuit of perfection. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea.

if you are not buying back here, what is the best way to trade? let's hit the playbook and you are not a buyer of this rally. what can you do? you will be back to even or want to protect the options, but volatility is so high, to buy a put is very expensive and it won't be cost-effective and if they fall, the chances of going up even more are probably slim to none. usually what i prefer to do is look at the sectors that they are exposed to and look at etfs. they have a lower volatility and the spy has the lowest. if you look at xlk and xle and some of the bigger etfs.

29% and the spy is down to 22%. i would buy a put spread to protect the portfolio. 130 or 126 put spread. you are taking advantage of the high volatility and manage the put of the protection that you want to have. mike cohen and the options desk. >> we certainly have and people don't just use these in etfs or pointing out the single stocks as well. this can be an effective way to put on protection. we see elevated skews and the further out are more expensive and buying put spends take advantage of that as well. >> they called you brian? that caught me off guard. who is that? anyway. obviously. the next trade here, ben bernanke testified before the

committee tomorrow. will he deliver on the height for qe 3? let's bring in the strategist. always good to see you. >> we don't think there will be anything about the testimony tomorrow. it's nothing at the meeting in june. as you guys were talking about, there was definitely a get ahead of the headline here rally. we don't think this is not the environment that you would announce. he would have to acknowledge that the spring is worse than he thought. at the same time he will acknowledge that the winter was stronger. they are going to probably need to wait more. >> the facebook bullet points were out and they were not great, but not dire. there were somewhat encouragine. a less quantitative easing and make the market go higher. there is nothing in the bullet

points that suggest that. >> that's not where you look for indications, but admittedly there was nothing in the book that would support it. when constructing the portfolio or trading, you shouldn't be at this point in time banking on them coming in in that fashion. they wanted a low risk strategy, that will have virtually no effect other than to shut people up who want more. >> do you have any hard numbers where you think that would be enough of a trigger that they would need to respond to unemployment numbers or payroll numbers or is it sort of than that? >> in a concrete fashion, you have one more number. if you get one more payroll number between 75 to 125,000, people will be flowing over themselves to scream at him for not doing more. we had two months in a row and three months in a row of fairly

lack luster growth. they howl about inflation and the unemployment rate up where it is while not fully in control, that's something they can influence or believe they can influence. i would put it on one more jobs number. >> in the last conference, they mentioned the fiscal cliff and how they are powerless to that. speaking to congress, you would think that would come up. how do you think he will handle that with congress? >> i am pleased to say i was one of the first out there screaming. the reason why is this idea that somehow investors would look past this. meetings would say they are going to extend this. that's the most likely scenario. i don't believe that's going to happen. i don't believe it has a negative effect. it's in the forecast with respect to the economy. but from ben bernanke's standpoint, policy makers are looking at ways into fiscal policy debates for the id lots

in capitol hill. certainly they both happen, but he has to be careful. investors need to remember that the economy and by economy, stock market will be kicked in the face and nothing anybody can do about it. >> kicked in the face and nothing to be done about it. >> btig. what do you make of dan's preaddition? >> i think the economic malaise is more of a problem for europe and china. i don't see us doing anything in the beige book. it wasn't bland. it was okay encouraging. moderate case continuing. wages going up slightly. if you look at the qe 3, look elsewhere. >> let's go to the next trade. it was a nice marish day for mattress stocks.

temperatu tempur pedic and the mattress firm ceo joins us from houston. thanks for joining us here. >> thanks for having me. >> your firm is a mattress retailer and you sell many brands. is there evidence that there is this sort of a slow down that temperature pedic was talking about and specifically talked to the previous month, the month of may and there is no kbe whether or not they slowed in just the past month. >> great question. the fact of the matter is we are coming off of 11 consecutive quarters. the most recent quarter was up 16% in growth on top of 20% the prior year. we saw a continued strength

through the month of may. we are not seeing the slow down temperature pedic is seeing. we are doing well with them as well. we are enjoying the success. >> i looked at the quarter and your comps were at 16.1% better than expected. gross margin is better than expected. if you want to knock holes and revenues and guidance good enough. nothing to suggest they are down 20%. do you have the balance sheet you could put money to work and buy back the stock? >> our focus is we do have a strong balance sheet and that is on the long-term growth plan. what we are doing is we can generate a lot of free cash flows. the new stores on cash pay back of less than one year. we are opening 100 stores a

year. in our new and existing markets and 180 stores. this will drive up value overtime. that's our focus. >> a question. i read where temp ur pedic's interest is a lot of competition from privately held smaller names where people are going elsewhere to buy mattresses. can you speak to that that this is just a temp ur pedic specific problem? >> our focus is we sell a brought range of product firms. $278 to over $7,000 and we have a product approach. we are seeing broad growth across the spectrum. as temp ur pedic's success is

not predicated, we enjoy them doing well on the floor. for us it's about the fact that they are all up and selling more units that are up and the margins are up. >> there is an assumption out there that your industry is correlated to the housing industry. is there truth to that and a connection to new or existing sales or mattresses? >> we studied that over the years? >> if you recall in 2005 and 2006, the home sales started to fall from the peak. we comped up respectively. we did not see a direct correlation in that last precipitous decline and over the past 35 years, there is not a

direct correlation. >> thanks for joining us. we appreciate it. from mattress firm. you are not in. >> if you look at it and it has 3% and you are not really getting that home though. if you want to get the exposure, look at itv, home construction. that has all the names that benefit from that or new builds. >> the stock has been a pretty monster performance. >> a 20% move is astronomical. 36% shortage in the name. you have to assume a lot of those and maybe get it questioned lower. i think the stock is interesting for a trade now. >> you can spring higher.

>> gold star for you. coming up next, a canary in the coal mine for technology. if a prepaid iphone will be a game changer. what lies behind this red velvet curtain. the best idea you will hear for the trade of the day and has all the right elements for success. stay tuned to find out what it is. more fast straight ahead. [ male announcer ] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history.

so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪

tdd# 1-800-345-2550 checking the charts. tdd# 1-800-345-2550 looking for support, tdd# 1-800-345-2550 resistance, breakouts, tdd# 1-800-345-2550 a few other tricks that i'll keep to myself. tdd# 1-800-345-2550 that's how i trade. tdd# 1-800-345-2550 and i do it all with charles schwab, tdd# 1-800-345-2550 because their streetsmart edge platform tdd# 1-800-345-2550 helps me trade quickly, intuitively. tdd# 1-800-345-2550 staying on top of the market is key! tdd# 1-800-345-2550 and the momentum tool, tdd# 1-800-345-2550 it lets me do it at a glance, tdd# 1-800-345-2550 so when things shift, i'm ready. tdd# 1-800-345-2550 then to track the stocks i have my eye on, tdd# 1-800-345-2550 i turn to schwab's high/low ticker. tdd# 1-800-345-2550 so i can spot a potential breakout tdd# 1-800-345-2550 before it breaks out. tdd# 1-800-345-2550 and get this...i can even trade, tdd# 1-800-345-2550 change my orders or check out my positions tdd# 1-800-345-2550 right on my chart. tdd# 1-800-345-2550 my system works for me. tdd# 1-800-345-2550 does yours work for you? tdd# 1-800-345-2550 get streetsmart edge tdd# 1-800-345-2550 from charles schwab for $8.95 a trade. tdd# 1-800-345-2550 open an account and trade up tdd# 1-800-345-2550 to 6 months commission-free. tdd# 1-800-345-2550 call 1-800-790-3806 tdd# 1-800-345-2550 and get started today.

to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! >> i don't have any problem with extending all of it now, including the current spending levels. they are still pretty low, the government spending level. i think they look high because there is a recession. >> i want to thank you for having president clinton on. he's the gift that keeps on giving. i hope you will have him on more often to talk about bain capital

and the necessity to extend the bush tax cuts. >> representative of the challenges facing the president. the supreme court's decision on health care reform. the action trade on this. what is it? >> it's interesting when you look at the potential winners and losers. let's tall the hospital e hospitalers the winners and the net losers. they are trading at a discount and ahead of catalysts like earnings. the options market is suggesting that we are probably going to see a decision sometime before july expiration and our analyst think sometime before this current session adjourns which is schedule to be june 25th. we are expecting to see the accelerated decay and the call spread. the unitedhealth and the insurers.

it's slightly higher than the stock price that reflects the bullish view. you pay to do this and you benefit when the dated options begin to decay more. >> they said we will go ahead with the buy back that is 10% of the stock out standing and increasing to the cheap sector. regardless of what happens with the obama care. they are moving to insure more people and the stocks look good. >> catch more "options action" every friday at 5:00. follow at cnbc options. coming up next, what worries are gripping countries across the globe wrchlt can you hide out? we will tell you where to look and his picks might surprise you. stay tuned.

>> per welcome become to fast money. live at the market site in times square. that was the trade of the day a

couple weeks back. a week ago. a huge pop in the share in the after hours. >> there is a story on bloomberg tonight that said they have rejected a bid from a competitor that for north of $20 a share, there was that reuters story last week which is why i highlighted it. if management is listening, there is a lot of smoke and you need to clarify what is happening. if you are for sale, you need to say you are for sale. we need direction here from the company. >> at the same time, what do you do with the trade? >> i will hang on to it. >> you are? an actual offer will come through? >> it sounds like a competitive situation. i think we will see more. >> let's move on to the next trade. a mobile phone carrier getting to the iphone game. according to reports, print will be announcing that the virgin mobile brand will be the second carrier to raufr the service. this will change the telecom

game. the senior analyst, craig, good to see you. what does this do to profitability and margins should this happen? >> obviously the low end customers, the virgin mobile customers are not as profitable for print as post paid, but the bigger problem is a large contract with apple and this helps them meet the contract and this is good news. >> it's good news and it runs the risk of going bankrupt. >> i was on when we published the note saying print is essentially a story of two tail risks. they are pricing in about a 50% probability. if it doesn't, you can play the direction of the risk. as i say, this development helped, the problem is it will

be lte iphone and the network is the advantage. they don't have one yet. >> you are saying that that helped in the commitment to apple. they are not selling enough iphones with the way they are doing it now. it seems to me that sprint has a real problem. >> no question. their contract with apple said they have to move about 7.5 million units a year. they are on the run rate right now. there is a meaningful gap there and the risk is that they have to discount the product in order to meet their commitments. >> mike murphy. i'm long sprint on the stock yesterday. it's an option down and looking at it as an option and a big upside and the downside is there and the potential for bankruptcy. you can speak to the fact that right now, sprint gets away from

there and can that lead competitors and they help the company. >> that's right. sprint is out there and will appeal to the segment of the market. those are the heavy users and the cutting edge users. it will be tough to convince them that the new feature of the iphone is lte, you want to go with the network. there is a lot of complexity to sprint. on the other hand, huh both verizon and at&t saying lately they think consolidation is inevitable. they could play a part in that and that could be good news. it's an option and it is a tale of two tail risks. >> we will leave it there. time now for fast money portfolio and sluggish economies. searching for safer bets and are the u.s. marks winning in the global economy?

jim mcdonald is the chief economists and leaves at $716 billion asset management team and joins us from chicago. great to speak with you. >> in terms of the u.s. stock market, did what happened today in the market change? does it make you more bullish of stocks? >> i think it's an example of why you don't want to make a big bet in today's markets. we have been pressured by concerned of global growth and worries of how europe would tackle the problems. it took a set of rumors to turn the market on a time. stocks are cheap relative to bonds and you don't know what might dprm a policy standpoint to turn it around. we think the u.s. looks better than europe and favor higher yielding assets like real estate and higher bonds. >> the stocks are cheap relative to bonds. it's interesting except bonds go lower as well.

you can have weeks or months with the dividend yield with the comparison to the 15 or 20% you can lose in the stock. are you suggest you can see a washout or an equilibrium in the current levels? >> valuation is never a support over the short-term. they have to fund the long-term retirement and you have to do it with a real return. i wouldn't look at its downside protection, but on an intermediate basis, that will put mora under the market and you have to look at it with long-term return. >> a lot of people are looking for high yield plays and this is one suggestion that you made

earlier. is it commercial real estate or how do you look at the space? >> we like to do one of two approaches. broadly diversified or use a manager that is able to find good opportunities. we like real estate for two reasons. the modest overweight tactically and the income generation that moderates volatility and the overindebtedness for the global economies means there is a chance that it will be one of the solutions and you want assets that includes real estate and inflation and protected securities and commodities. >> he joins us from chicago and we are on our way to the windy city after the show. you want to tune in to fast money to hear from more heavy hitters and chicago mayor and

the trading town hall and the harpo studios in windy city. are give me a break. >> we continue to hit the big movers. how some of the smartest managers are winning in the volatile times. stay tuned. [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can help you take charge of your future. ♪

♪ i hear you... ♪ rocky mountain high ♪ rocky, rocky mountain high ♪ ♪ all my exes live in texas ♪ ♪ born on the bayou [ female announcer ] the perfect song for everywhere can be downloaded almost anywhere. ♪ i'm back, back in the new york groove ♪ [ male announcer ] the nation's largest 4g network. covering 2,000 more 4g cities and towns than verizon. rethink possible. who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ.

women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, or may become pregnant or are breast feeding should not use androgel. serious side effects include worsening of an enlarged prostate, possible increased risk of prostate cancer, lower sperm count, swelling of ankles, feet, or body, enlarged or painful breasts, problems breathing during sleep, and blood clots in the legs. tell your doctor about your medical conditions and medications, especially insulin, corticosteroids, or medicines to decrease blood clotting. talk to your doctor today about androgel 1.62% so you can use less gel. log on now to androgeloffer.com and you could pay as little as ten dollars a month for androgel 1.62%. what are you waiting for? this is big news.

a massive rally on the street as you know. could there be trouble? this came out from jpmorgan lowering estimates on google, amazon and ebay setting a slow down across china. they got the ip estimates. the growth estimates. 2.2% from 3.8%. >> i think so. that has been the bright spot on the market. we talk about tech spending and oracle and emc.

you see a meaningful slow down and what companies are willing to spend. the reason is people are concerned about whether or not there is going to be an economy or recession next year. this is when you start to see the decisions in washington coming into the market and the real economy and it's happening right now. >> let's move on here. it was a nice rally today and a terrible month of may as you know from most investors like hedge funds. what does it take to run a hedge fund in these market times? the popular boy band and the biggest players tend to move in one direction. in the latest book, the little book of hedge funds, it is compelling to allocate assets towards them and they are applying skill and methodology in the market place that gives them an advantage. let's bring in anthony from sky

bridge capital and managing partners. always good to see you. what does that all mean? >> the question i had, who will be the heartthrob? my vote is lee cooperman. the bottom line is that that talent and others deal with the world the way it is. there marked a nominees and inefficiencies and one mortgage that people are taking advantage of. the stressed companies emerging from bankruptcy we clean balance sheets. if you talked to paul singer, very concerned about sovereign debt. you can play that on the short side. each of those guys mentioned the one direction hit or others have a specific edge for the skill set and they stay inside that circle of confidence.

>> that's very troubling. i think john paulson is there though. >> john looks good too, butly is my number one pick. >> perhaps he veered out of his skill set and made his name and fortune and now he is a stock picker and his friends hadn't been doing so well year to date compared to the broader marks. is that an example? >> we are take picking on him because he bet on the trade and got there early. if people give him time, the macro theme and the stocks that he got in the portfolio will work well. that say problem for us in the hedge fund community measured month to month. i think over the long-term we will be vindicated. >> good to see you as always.

>> thank you, melissa. the cubs are in baseball. you should have told them that. >> you didn't think i knew that? >> i know you knew that. i'm trying to team up with you against him. >> okay. anthony. see you later. the moment we have been waiting for is three minutes away. let the countdown commence. we will lift the curtain and unveil the trade of the day. the elements for success. stick around and find out what it is. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying...

[ all ] i'm with scottrade.

>> it's that time. the time we have been waiting for all show long. time to unveil the trade of the day. mike murphy, take it away. >> today's trade of the day is x. u.s. steel. if you look at this level prior to today was trading at levels that had had touched before in 2009 and once before in 2003. other than that it has not seen the levels this. feels being because today they had an investor day.

they expected to take guidance down and they did it. they put through a change over to natural gas in their plan and 13 driver's license per ton and looking at the iron ore prices. >> it wasn't until that moment and had no idea. do you like that? >> the reports are interesting. if you think the world is on the verge of collapsing, then the u.s. can go up $20. >> we have the first tomorrow when we come back.

mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve.

i'm an expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there.

>> these stocks are elevate and consider selling strangles around the core position. >> buy three yields at a preechl yum. >> brian kelly. >> stick with the thing that is