many hacks we're talking about, which banks or how much money has been stolen. but this is obviously a significant development in this ongoing global investigation. >> but it's also -- i know we have to go. it's bank of new york lost the ability to use the system earlier. it's going to affect settlement times. a lot at stake. michael, thank you for joining us on "closing bell," as well. "fast money" starts now. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square, i'm melissa lee. tim seymour, brian kelly, steven seymour and guy adami. it rallies on. the dow s&p hitting all-time highs. bess flight the new highs, an undercover way to beat the market. and as the dow is closer to 20,000, what will take us to the next leg of the rally? a top technician is here with the details. and bonds falling 10% since the election.

what should you do with your portfolio? we'll tell you. but first, we start with trump tweeting and the market listening. after calling out boeing last week, trump took on lockheed marin this morning, saying the costs are out of control. billions of dollars can and will be saved on military and other purchases after january 20th. the stocks paid attention. lockheed pulling nearly 3%. northrop grummond, general dynamics. who could trump's next target be? first of all, on defense. guy, investable or not? >> yeah, i think it's ininvestable. when he went after carrier, obviously the united technologies, one of the things we said was, they were in the cross-hairs now, he'll move on to the next target. united technologies, by the way, made a 52-week high and closing on levels we slaft saw a year-and-a-half, two years ago. following in the after market, what is an all-time high.

and i think the same thing is going to happen with lockheed martin. in the case of lockheed, it might take longer. this is a big program. with that said, defense stocks will feel the pressure. but i think it will be short-lived and he will move on to other targets. >> to me, take it in the context of a move a stock. 23% of their revenues this year. typically about 20%. and about 15% of their bottom line eps. think of the move in lockheed. this stock has effectively tripled. and a stock that ran 10% up on this -- i think probably more unexplainable presidential move. and i mean -- i don't mean the president -- i mean of all the stocks that moved, i think the fact that defense stocks, which have been defensive because they were high-yield stocks and very solid balance sheets, actually they should not have been rallying. so the pull back -- take it in the context of that. law of diminishing impact, as guy says, look how the market responds and where these stocks closed at the end of the day where they started the day.

and it tells you that the market is starting to -- we have had this discussion on this show, weigh the impact and say let's wait and see. >> the push/pull also. because the incoming administration increases defense spending overall but turned the screws. margins will be impacted and that's another thing for investors. >> look where they're trading. peak operating margins and multiples. this is an easy target for him to tweet about and bring attention to his platform. i agree, probably a little overdone here. scrutiny on them for some time. i would prefer to buy general dynamics over any of these names. i think -- >> why? >> because they've got the offset. if you have a private jet, you know, sort of like, you know, massive buy-in, if you will, they've got that jet business. >> 50% since the election. >> it hasn't. not pulled back. but a very strong play. i look at the headline risk for the bigger players like a lockheed, not for a general -- >> i would say, let's just say theoretically that he does tweet about general dynamics. i bet it barely goes down.

if you look at the other guys, how they traded, the knee-jerk reaction, and everybody says, wait a second, they're not taking their business away. all he's doing is working for the american people to say let's get the right price on

yeah, yeah, yeah. now on some more interesting part of the conversation, i think. who is next? what company should be bracing for that donald trump tweet? >> i don't know if they're going to be bracing for it. but i do think apple can be in the cross-hairs for a number of reasons. i can see a tweet where mr. trump says, hey, apple, do you want to get back some of that

$150 billion or so you have domiciled overseas? bring the jobs back to the united states. could be something as simple as that. i don't think it's stock-moving but apple could be in his cross-hairs. >> yeah. seaburg? >> walmart is a name i think could be in the cross-hairs, not to say necessarily it will take the stock down. but i do believe it's in the cross-hairs from the standpoint they look at the hourly earnings and say, walmart, you're not necessarily doing a great job by compressing people's hourly earnings to avoid paying health care. >> you also say walmart for another reason. >> exactly. the other reason for walmart is, you know, i could see a tweet that says buy american. walmart is a major importer of goods, particularly from china. so would not surprise me to see something that says, hey, you know, you should -- walmart, you should be buying your goods here in the u.s. that actually could hurt walmart. because their margins are thin and rising wage costs. i would say walmart and also the restaurant industry if you said a secondary. those minimum wages could be

going up, as well. >> tim? >> to me, the auto sector. although these are workers we want to protect, gm is global motors because they put in factories around the world, much more efficient to run than the ones here. so the narrative so far has been don't rip off the government and don't produce your goods outside the country at the expense of american workers. clearly, the auto sector and the auto unions are probably the most dominant, if not the most powerful still in this country. he's going to at least throw them a bone. >> what got us here and what will take us to 30 k? let's go off the charts with evercore isa as he shows us what he thinks takes us to the next bill milestone. >> let's take a walk down memory lane. we use the path to predict the future, as we often do here. let's start back in the early '90s, sort of the road from 4,000 to 10,000 starts in the early '90s around '95 coming out of the recession, let's call it '92 to '94.

this beautiful bull market. we finally get through 10,000 around march of 1999. now what lifts us there? microsoft. we think about that '90s as a tech bubble. the tech bull run. this is your big winner here, the stocks up over 1,000%. it holds that level for six years. just shows you how strong it was. now we flash forward a little bit to the most recent bull market that starts with the financial crisis back in 2009. why is this the most hated bull market? because it's been very defensive. it's being led by stocks like unh. this is the best-performing stock up just like microsoft, 1,000% from the 2009 low. it's a defensive take. so how do we get from where we are today to 30,000? what's the next leg here? without further ado, jpmorgan chase, financial, from rising rates, rising reflation, less regulation, and lower taxes. you can see the base breakout here. you're up 24% from the election

alone. so maybe you think you missed it here. but you haven't. and here's why. look at this long-term chart here. this is 17 years, a double bottom base breakout to a 17-year high with interest rates going higher. the curve getting steeper. taxes coming down and regulations in an industry which has been under a cloud of scrutiny for the better part of the last decade are eroding, all of which suggest that financials like jpmorgan chase, like goldman sachs, can move higher here. and can carry us to that next leg of another bull market. >> i'm not even going to ask. i'm going to invite him over. >> yep, bang! >> yeah. come on, ashley, bring over the chair, please. he's going to come over and join us here at the desk. >> thank you. >> de come plea. >> so do jpmorgan and goldman sachs look better than other financial stocks or are gnls going to be the winner? >> in the early phase of this advance, we know it's been sort of the rising tide that lifts

all boats. i think as we get into the new year, we're going to become more discretionary, and not paint all financials with the same brush. they all don't -- they haven't earned the right to benefit commensurately, so, yes, some will continue to move higher, like goldman and jpmorgan. others will be left behind. so that next phase, once again, will be more discriminatory within the financials. >> what stock are you most worried about in terms of being a barrier to 30,000? >> you know, i think health care for me, even though the valuations have become more compelling, we talk about that cloud of regulation sort of lifting over the financials. it's still there when we talk about health care. phrma in particular, when we see the double tops, lower highs, kind of has that look of more of a structural top. that's a big part of the s&p. so a little bit of a concern going into the new year, eroding technicals with political headwinds. that's an issue for me going forward. >> so, rich, when i look at these charts, particularly the financials, i see things going straight up like a hockey stick,

very similar to how the tech stocks did, in the late '90s. very similar to all these ending kind of patterns. why does this not look like an end pattern as opposed to a breakout beginning pattern to you? >> i think it's a great point. what i would say to you is that we have been moving sideways for some time now. the last three years, we haven't done much. yes, on an absolute basis some stocks have performed. relative to the s&p, we have been flat to underperforming for so long. we also know the positioning. this still an underowned group because interest rates have been going down in a straight line, essentially. so now you have a reversal of that narrative. rates higher, the curve steeper. you're going from under-owned even if you go to market weight, you can still have a bid. i agree. the initial stages of this move has been vertical. and that's not sustainable. we can consolidate in sideways fashion, ease over bought positions, driven by positioning, driven by higher weights and steeper curve. >> rich, thank you for coming by. speaking my language, rich.

>> i thought you said on friday you wanted to take -- >> take profits. >> yeah. >> hold on. a little bit overbought. take profits for the short term. wait for the consolidation and pullback and get back in at lower levels. i believe the financials are the place to be. look at goldman sachs, look at jpmorgan. those are names you want to own for the long-term, given the fierce rotation. long-term, these are stocks you want to own in a rising rate environment. >> the dow is trading at 93, nine-day rsi. for you folks at home, that means ultimate low this thing is as overbought as it's been in 20 years. why doesn't that concern you? i know we talked about this, rich, on the side. we're doing it on the show. which is don't play around with a move like this. >> well, that's just it. overbought does not mean over, and it's pretty lame we talk about these sort of things on the side. rsis, very exciting stuff behind the scenes here. >> so here we are. >> keep in mind, we still are

strong in seasonality. as we enter the new year, we need to work off positions, no question about it. you have an expansion of breadth, very aggressive sector, in fact a rotation and "star trek" actuarial breakouts across the board. what's not to like. >> bye again, rich. >> see that? -- >> coming up -- >> fantastic. >> i said goodbye once and then -- okay. coming up, news of a shakeup, holding a conference call right now. we'll hear from the new solo ceo. and the russian connection, why one of trump's cabinet members has good news. greg davis of vanguard says do not panic. what to do with your portfolio later this hour. much more "fast money" straight ahead.

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welcome back to "fast money." a major media deal off the table after red stone whose family owns a controlling stake of via com and cbs. shares of via come took a dive, when the acting president as ceo of the company. tim. >> yeah, i think if i look at this, clearly as the market has shown today, via com was the one who had more to gain, but makes

it more interesting than cbs on some level. i don't think the value in vio com, if you view some of the parts and look at the properties should be pushed down 10% by this deal. cbs is a two-year highs here and ultimately does it lead them into a bidding war? yes. i still think content in the media sector is reigning supreme and those guys who control their destiny and cbs -- >> cbs doing a deal itself, you mean. >> yes. i think that's the more viable opportunity. >> reco had an article saying espn could be a target of cbs. >> we talked about espn being a spinoff. i think that's entirely possible with this particular -- with via m com in general. i like via com because they're trying to make some progress. it was stagnant, didn't do anything for years. now you're starting to see somebody trying to make a change. >> via com, to timz point,

relative to its historical value, it's cheap. i mean with that said, i thought it was cheap for the last four or five dollars and obviously cheaper today. but i do think they'll figure it out and maybe the best thing that's happened nobody comes in and takes these guys out at what would probably be a pretty steep discount. with that said, and something we mentioned on the called today, we have been talking about this. rates have been going higher. one would think the name like at&t would go down. at&t is very quietly going from $35.5 to $41, and in a time when interest rates have done nothing but go higher which leads me to believe something is going positive at at&t. >> i'm surprised no one mentioned a conspiracy theory. just in september, pushing for this merger. a couple months later, now they're saying, oh, you know what, things are turning around on their own, we're going to give this guy a chance. maybe they know that things are much better than meets the eye.

i'm wearing the conspiracy theory hat that you guys made and knit and usually sport yourselves. >> i left mine at home, i guess. >> i don't, i crochet. >> big difference. >> again, i think you get down to a sum of the parts valuation. via com, the comps are incredibly easy. whereas for cbs, by the way, actually kind of difficult in the next year and you get the valuations. and, again, cbs is cheaper than its peer group. next, retail getting crushed. down 2%. the department stores, macy's, nordstrom, jcpenney, moving lower. and walmart, the next stock -- >> yeah, walmart. walmart is doing well. and i said that. it may not derail the stock, necessarily, if trump tweets about it. but i do think, walmart is a stock you want to own into the end of the year. i do think it's going to outperform. i do think, you know -- i talk about burlington on this show. i've talked about dick's on this

show. these are names with very easy comps. i look at the reform from the standpoint of tax reform and say individual taxes benefit the most and walmart. >> so to you -- >> 2% pullback. i'm a buyer. 46 bucks is line in the sand. >> walmart has -- cost of goods sold are going up. whether you like it or not, inflation is coming from china. wages are rising in china. that's going up. their wages in the u.s. are going up. and they're not going to be able to rise rate prices. >> we talk about a cold weather trade -- we talked on friday. cold weather trade, walmart is the ultimate cold weather trade. when it's cold, walmart performs very well. you can say online or whatever. ultimately, walmart is a stock you want to own. >> why is walmart going to outperform in the fourth quarter. when the top line has been shrinking. they got back to basics, all about we're going to be cheaper than the next guy.

meanwhile, forget inflation. if anything, there's deflation in terms of the competitive industry and these guys -- you know, there's no way they're taking market share from amazon. proven they're overpaying for online apps. >> tax cuts for the individual are going to be massive. tax cuts in general, walmart will benefit drastically. and i'll tell you what -- comps. comps are going to be easier. so in general, you can look and say this platform, this stock in general, is going to perform better in a vacuum if you're comparing to fourth quarter last year. >> nordstroms. we talked about this two weeks ago. stocks that have one too far. one of those things we do from time to time. stocks do a fade or -- >> oh, yeah. >> we mentioned -- >> on this show, by the way. >> unwonky. >> nordstroms went from 35 to 60 much too far, way too fast. that coupled with the fact valuation doesn't make any sense. i think names like that have more room to the down side. >> by the way, i didn't think it

was that cold this weekend, guy. >> right? >> do you think i overreacted on friday's show putting on a hat and scarf? >> you were a little off. that's all. >> nice hat, though. >> thank you. my hat. by the way. coming up, shares of chipotle jumping after announcing one of its two coceos will step down. is that enough to turn the fast food chain around? i'm melissa lee, you're watching "fast money." >> that's what they have done since the election. how can you protect yourself from the wreckage? the manager of the bond fund will be here with three simple steps. plus, it's the one country that's getting an even bigger trump bump to the u.s. but has the stock market come too far, too fast? we'll explain when "fast money" returns.

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and so lucky to hear. how about austin matthews up in toronto? >> okay. >> more of them opening night.

what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley

welcome back to "fast money." another record day on wall street with the dow closing at an all-time high, its 15th record close since the election. crude oil hitting its highest level since july 2015. here's what's coming up. russia stock market surging nearly 20% since the election, but is it too late to get in on the rally? we'll explain. and chipotle shares higher today on news of a shakeup. is it enough to change the company around? we'll hear from the ceo later this hour. let's start off with the ten-year yield hitting its highest level in two years ahead of the expected rate hike this week. rick santelli joins us now with demands on u.s. debt. rick, you said i think mediocre,

moderate, something like that? >> yeah. no. the three-year note auction i gave a c-minus and the ten-year auction a reopening, a c-minus. the first didn't surprise me. yields have moved up, but that concession, as they call it, really didn't make a big difference because the fed is going to raise rates and the three-year will be dramatically affected by that. down the curve, the ten-year a different animal and most likely most effective by yield curve movements regarding the fed and things like inflation down the road, picking up a little bit. the growth initiative, what's going on. rates are going up with the blessing of the stock market. and, of course, the fed's balance sheet. the fed's reach isn't going to reach all the way down to the ten-year. quickly, today's high yield was 2 252. that's very key. if you comp. last time we were here, june of 2015, if we want to go all the a back to september, what we need to pay in '14, all we need to do is

closer higher than 248.5, and the comps extend. this is a critical area. >> and it's staggering, rick, to think in july we were 1% -- one full percentage point lower on the yield. i wanted to get your take on what jason trenette told us on power lunch today. we were at the top of the first inning notice r in the bond rotation. what's your take on the floor? >> totally agree. how long the game will last. i think the nine innings may cover a three or four-year span before you really start to see the full move. but i do think it's possible in 2017. >> rick, thank you. good to see you. rick santelli. >> as the bond bloodbath rages on, we have rick, from the largest fund. >> great to be with you. >> a lot of people saying the

rise, all be it steep, has been orderly, and yet i'm sure there are a lot of investors who had a big bond position in their portfolio. they are just freaking out. doesn't feel too orderly to them. what would you tell them? >> first thing i would tell them, don't panic. don't let a 60 basis point rise we see post election really drive the long-term asset allocation. when we look at the broader bond market, returns in our franchise are still positive on the year. and so, again, don't let a short period of time really drive your allocation and make you do anything, you know, an extreme move in your portfolio allocation. >> what's the cap in your view on the rise in the ten-year yield? >> we think ten years at 2.5% are around fair value. clearly, the market is going to overshoot in any one direction in the short-term. but when you look at some of the head winds the market will continue to face, regarding, you know, an aging demographic, when you start looking at the lack of productivity growth, it's about half of what we saw prefinancial crisis. and then you also have

technology that still continues to put in a deflationary force in terms of the economic activity. i think those headwinds will continue to win out, you know, in the intermediate term. >> it's brian kelly. so let's talk longer-term. if somebody does want to in the longer run adjust their bond exposure, where should they look? what -- over the next five years or so, what maturity range should they be looking at? >> you know, again, if you're an investor and have a five-year time horizon, you probably want to have a fund that's intermediate-based. when you start making longer-term allocations to the long end of the curve, you need to have a long-term time horizon, because if rates were the rise, you're not going to have the opportunity to have that principle and those income payments reinvested at higher yields. so you should try to match up what your time horizon is with the duration of the fund you're invested in. >> why are we not concerned about high yields and moving out the credit curve at this point and, in fact, high yield has been pretty defensive. i'm curious of your view. if this was six months ago,

people would tell you higher rates are going to destroy the credit curve that allowed these companies are borrowing at. >> i think there has been optimism in terms of potential regulatory reform, tax reform, infrastructure spending. we have seen the pop in the equity markets and that's carried over to high yelled, as well. if you look at some of the broad-based high yield indexes, they're up year-to-date on a total return basis. there has been optimism in that market because of the strength in the u.s. economy. >> what do you expect on fed guidance on wednesday, greg? >> we think we're going to see a hike by the fed of 25 basis international falls. from a guidance perspective, no significant change over the last several months. i think we're going to be in a wait and see mode, where we're waiting to see, you know, additional data come out. but then also get a sense for how some of these policy actions at, you know, the new administration is trying to impact will ultimately get implemented. >> all right, greg. good to see you. thank you so much for your time. greg davis.

you bought tlt today? >> i did. the contrarian trade. everyone and their brother thinks yields are going higher. maybe in the long run, they are. but right now a 96% probability that the fed is going to raise rates. you have the highest amount positioning wise. people are short of euro dollars, shorter-term treasuries on record. so everybody is on one side of the boat. now i've got a trigger coming up on wednesday, the federal reserve. all they have to do is just be slightly more dovish than the market thinks and bonds will -- >> what is slightly more dovish? what greg said? we're that independent and will wait and see? >> wait and see what comes up with the election. anything that says, hey, we're not going to have this massive -- >> i don't know how you can say everyone is on one side of the boat. we're out of place where rates have moved. first of all have talked about -- keep calm. the bond market has been anything but calm. if you listen to what rick said, positioning right now i think is still well to the point where people do not and have not been positioned for a move. that's effectively doubled. we went from 131 on the ten year

and danced above 250. that's extraordinary in terms of the impact. so to say that people are in the bond market that haven't been as invested have been largely taken out to the woodshed. i think that's going to lead to less strong hands in the next -- in the next move as we start to see things go higher. >> i agree. tlt trade -- very short-lived trade. you have to be very careful if you're buying this for a trade. i actually would probably take it off before the fed decision. i think expectations are they'll come out ask -- >> you would own it tomorrow? >> yeah, for a day-and-a-half into wednesday. wednesday afternoon. take that trade off. i'm a short-term trader. come on. my point is, i do believe there is a short-term move that will be had. a contrarian trade. i think the risk is that the fed comes out and is more hawkish than we expect. and i think that it could actually -- knock the tlts down after that. so i would be careful. >> >> what's hawkish -- what's good for stocks, bad for stocks? >> i thought i knew the answer to that question. i really don't know the answer

to that question. i would think good for stocks is, my opinion, if they raise and say -- well, they're not going to say anything to the fact we're going to see this, this is the beginning of something measured over the next year. but i think if the market interprets it potentially for rate hikes this year, i actually think that would be bullish for stocks. >> for hikes -- >> finally clarity -- >> i think you're totally underestimating the fed. >> i'm with you. >> they are going to be the biggest factor, and i think we're going to be actually well past the politics of the last -- >> are you saying so short tlt at this point? after this move, you would be short tlt. >> i'm long tbt. how about that? >> all right. coming up, looking for a way to beat the market? of course, you are. and it could be as simple as watching one key index. we'll tell you what it is and how you can play it. and president-elect donald trump expected to tap exxonmobil rex tillerson as secretary of state. we'll explain when "fast money" returns.

welcome back to "fast money." speculation that exxonmobil ceo rex tillerson could be donald trump's secretary of state nominee have some worried about

russian relations. eamon javers has more on the story. >> hi, melissa. some people less than thrilled are republicans in the united states senate. that could be something to watch for as a potential problem for rex tillerson's confirmation if he indeed is donald trump's pick for secretary of state. start with what donald trump said yesterday on fox news about rex tillerson. he didn't come out and explicitly endorse him for the position, but he did have some praise for tillerson. here's what he said. >> in his case, he's much more than a business executive. i mean, he's a world-class player. he's in charge of i guess the largest company in the world. it's been -- a company that's been unbelievably managed. and to me, a great advantage is he knows many of the players. and he knows them well. he does massive deals in russia. he does massive deals for the company. not for himself. >> but it's his connections in russia and specifically his relationship with putin that has some senators on the republican side concerned. take a look at this tweet from

marco rubio, who said being a friend of vladimir is not an attribute i am hoping for from a secretary of state and john mccain expressed some skepticism, saying tillerson's relationship with putin is a matter of concern for mccain. there are not a whole lot of votes to spare if democrats don't support tillerson. most will not. the republicans don't have a lot of votes to spare in the senate. ultimately need a lot of republican support in order to get his confirmation through. before you look at what tillerson's appointment as secretary of state to mean for u.s./russia ties, you have to look to see whether he can become secretary of state. >> eamon, thank you. tillerson's russia dealings isn't the only thing turning heads. take a look at russia's stocks, up 17% since the election while the emerging markets have dropped. crude prices to thank along with possibilities that trump could cozy up to the kremlin. on the other, chinese stocks haven't been so lucky, falling since the election as trump continues to churn on china.

the shanghai dropped the most in six months. is it time for investors to buy -- to save chinese stocks? >> russia is 5.4%, and china is over 25%. so you can see what's pulling down what. remember in emerging markets when you're investing, your sx component following more than 50% of your trade. if you think about what's going on right now positioning, a lot of global macro guides and the relationship between oil and the ruble. if you want to be linear, $57 brent is a 55 ruble. and a very strong argument the ruble still could get significantly stronger. there's a discussion whether it's rex tillerson or somebody else that sanctions against russia both here and in europe could be -- there could be a bit of a reset in relations and $65 oil. the russian central bank is probably cutting rates. i'm not going to tell you the russia economy has suddenly gone gang busters, but russia will continue to outperform in this

environment anywhere north of $55 oil. and rex tillerson knows a lot about the dynamics in russia. so, again, exxon has huge investment near the arctic circle and without getting too deep into that, i would tell you the tolerance and the understanding for how to do business with these guys is something that he understands intimately. >> right. part of the concern about china, trump over the weekend was also out on the sunday show saying the one china policy could be revisited. maybe that's out the window and we're talking last week about limits on atm withdrawals. >> so on the 2, russia could keep going, probably i wouldn't be buying it here. when it comes to china, you had a couple things happen last night. you had rates in china go up, the stock market fall. you now have housing prices that are potentially in trouble. china is on some shaky ground here. so i would not be going in trying to buy the dip in china, because there's a lot more to come on that. >> i mean, the rsx has been really correlated with crude.

if you look at the way -- if you assume crude will go to 58, 60 bucks, you make an assumption there is a term in the rsx. i question you and say what are some of the international -- u.s. companies that maybe benefit from this sort of like better relationships with russia? 60% of their business in international -- schlumberger, to do they benefit? >> absolutely they do. so do the big industrial companies. names in the dow jones. and pepsi, and some of the global snacks and beverages companies do phenomenally well. anheuser busch, but ford and gm have major businesses in russia. and on china, the data macro continues to get better. retail sales and industrial production. i'm not going to tell you they don't have significant problems. but i also say that i think this economy is actually getting stronger and i do think this is something that ultimately em is slow to come around but the one china policy will not take it down. >> understand, exxonmobil here, my opinion, close to 22 times forward earnings is expensive. but with that said, even if

crude were to go slightly lower from here, a couple names that work. and look at what apc has done north of 70 bucks. i know i saw a downgrade last week. i think that continues to rally in the earnings. >> so jeff, how much higher could russian stocks go? one trader doesn't think it will stop any time soon. mike co, what did you see? >> we saw some unusual activity in rsx, the russian etf you were referring to earlier. we saw more than four times as many calls trading as puts and two times the average daily call volume and the may 23 call, buying those for about 73 cents, including a block of 5,000 that traded at that level. and that is a bullish bet that rsx could be at least 10% higher by may entiration, five months from now. so continuing to see bullish activity. >> thanks, mike coe in austin for us. check out the full slow at 5:30

eastern time on fridays. chipotle shares surging. what's next for the struggling fast food chain? we'll hear from the company ceo and how he plans to turn things around. and a hot new index in the market since the election. we'll give you the name and how you should play it. you're watching "fast money" on cnbc, first in business worldwide. hey nicole. hey! i just wanted to thank your support team for walking me through my first options trade. we only do it for everyone gary. well, i feel pretty smart. well, we're all about educating people on options strategies. well, don't worry, i won't let this accomplishment go to my head. i'm still the same old gary. wait, you forgot your french dictionary. oh, mucho gracias. get help on options trading with thinkorswim, only at td ameritrade.

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welcome back to "fast money." a news alert on chipotle. susanan leasan monitoring. >> the company to abandon its co ceo. steppi from the board with the immediate effect. chipotle shares as you have seen have gains and hampered over the past 12 months. they're still struggling to bring back customers after a recent string of food safety incident. steve els acknowledged on the conference call. >> you can guess i'm not entirely pleased with the way things have been going. it's been an incredibly tough year for our company and our wonderful teams have been working tirelessly to drive the

recovery of our business. nevertheless, not satisfied with the pace of recovery. and i'm especially not satisfied with the guest experience in many of our restaurants.

i think they get a lot of wood to chop. i would be a seller here. >> the problem you have with any of these hot concepts, things like chipotle -- they have -- they have a chorizo which is actually quite spicy for an irish guy like me. but i'm talking about these new things -- the crazy chicken, pollo loco, whatever it is. they have a growth curve and they're probably up and over at this point in time. i'm not sure no matter how good steve els will be, they're going to be able to grow at what the street expects. the other i would be concerned about is panera, seems to be on the same trajectory. >> really, but is supposed to be benefitting? >> still on the growth curve so they might get this sugar high, if you will. but can't grow as fast as they are expected to in the past.

>> all right. let's shift gears here. looking for a way to beat the market? 100 index power by research firm m cam out performing year-to-date and since the election. what are key trends to watch? david marr tin is founder and chairman. good to see you again. >> great to be back. particularly now. >> yeah, exactly. what are the structural advantages to the cnbc index versus the s&p 500 that allowed it to outperform since the election? >> a couple things. i think that everybody thought that i q1 hundred would be tech overweight. we were thank flee not exposed, so we actually got the benefit of being where innovation toughing sits, which is across the industry, rather than being overweight tech. i think that was a big help. i think the other thing is, we actually got a lot of benefit from the noise about potential tpp fall-apart. i think if you look at the companies that might benefit from actually moving from multilateral to unilateral relationships and corporate agreements, a lot of the index is actually out there in the marketplace getting exposure to

markets that are not going to necessarily favor multilateral agreements and will be good at one-on-one negotiations. i think that's a lot of what was driving it two ways. and that's why we got the beat. >> in the past couple weeks or so, the president-elect has targeted united technologies, boeing and then lockheed martin. and here you say any company with direct relationships around globalization, built-ins and buy america though, are the ones you want exposure to. do you take that back? >> not at all. and i'll tell you why. people overrate what the president can do. congress actually gets elected. and congress gets elected more frequently than the president gets elected. and it turns out that those jobs, aerospace and defense, infrastructure, a lot of those structural jobs, are actually very important in electoral districts that the president and congress can't afford to -- off oh. it's a great tweet, but the companies have a huge global interdependence on their revenue

source, sourcing from around the world. and this is a tweet drop but a secular bull for a very long time. you've got countries around the world that are actually taking delivers of f-35. you see the supply chain diversifying around f-35. so, yes, is that 35 overpriced? yes. air force one overpriced? absolutely. but guess what, secular movement is going to be airborne, unmanned, a whole bunch of things where you've got large mass events coming up. you've got the uav market heating up again. so a lot of the stuff that will drive long duration value is going to be there. >> david, good to see you. thanks for stopping by. david martin of m-cam and the i q1 hundred index. >> amd, i've got to tell you something. dan nathan was here a couple weeks ago and saw huge call-buying. we talked about it a couple times the last two weeks. and eight or nine-year high today. i think j & j is the number one weighted holding and that's done well the last couple weeks.

so kudos to the folks over there. >> what are your favorites? >> amazon, i absolutely love. amd, of course, up 55 or whatever. you guys have picked some great stocks. amazon is my favorite. >> okay. coming up, ken is looking at one stock that is in russia. more "fast money" straight ahead.

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♪ time for the "final trade." tim seymour. >> a bunch of russian adas trade in new york. yndx is the search engine that dominates russia and a stock you should own whether russia is booming or not. >> brian kelly. >> over the next 48 hours, multiple inflation index coming around the, i think hotter than expected. you buy gold, abx, underlove. >> seaburg. >> very short. i think until right before the fed, i would take it off and i think you make some money on the long side. tlt, be a buyer. >> christmas shows like "rudolph" might be on. >> let's go watch "rudolph" and "frosty," what's your reply to

me? >> i would watch "rudolph" and "frosty," but maybe not with you. >> would you rather? >> remember last week we played "would you rather" pepsi or coca-cola? upgrade today, going up. >> i'm melissa my mission is simple -- to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm trying to make you a little money. my job isn't just to entertain but to teach you. call me at 1-800-743-cnbc. or tweet me @jim cramer. could this be the week when it all becomes too much? we've been so bullish about all the changes that president-elect trump is bri