earnings. thursday will be a huge day. google, microsoft and intel. >> and they were up. tomorrow with any luck is an earnings cent ric day. you have five dow stocks including dupont, verizon. >> thanks. time for "fast money." "fast money" from hollywood, hollywood, florida, that is, begins right now. we are at the beach resort where it is beautiful. it is one of the biggest gatherings for one of the fastest growing financial tools in the world. exchanged-related funds. we've got a big show planned tonight, of course. right? >> i didn't realize that was the cue. >> don't look now but bonds are making a major comeback beating

the return of stocks and the head of the largest income fund says there's more room to run. as president trump's administration gets underway. he'll be here the explain how and how to profit. plus, wondering how to invest in a trump world? mr. wonderful himself known as kevin o'leary will tell us. the precious metal is shining. what gives is this we start with a very busy day in washington as president trump hit the first day in office. headlines coming out of white house. let's get the latest. >> reporter: a very big day near washington. so big i'm going to cover both what is going on on capitol hill and at the white house, simultaneously. we've got the senate finance committee taking senate foreign relations committee taking a vote on rex tillerson. his nomination for secretary of

state. that is expected to pass through. the hiccup there was marco rubio and whether rubio would come on board for rex tillerson. he signaled earlier today that he would in fact do that. we expected vote should sail through. here at the white house the president began the meeting with the ceo with ford, tesla, and the ceo of lockheed martin. and others here, this afternoon he's been meeting with union leaders. we saw this meeting go into extra innings, so to speak. it was in the roosevelt room and then president trump brought them into the oval office. that went so well that they brought the press in unexpectedly for a photo op there. after the meeting some of the union leaders came out and talked to members of the press here and give as you sense of what happened and what the discussion was all about today. here's what they had to say. >> we will work with him and his administration to help him implement his plans on

infrastructure, trade and energy policy so that we really do put america back to work in the middle class jobs that our members and all americans are demanding. >> and melissa, things are happening so fast and furious here. while we were in that sound bite on tape, the tillerson passed on the foreign relations committee. so there you go. donald trump will likely get another one of his nominees through. there was some concern here at the white house earlier today that they are not getting to enough nominees confirmed on capitol hill at the pace they would like them to be confirmed. that there's some slowdown capitol hill. particularly among democrats, of course, but rex artilleryson seems to be well on his way to being confirmed by the united states senate. all of that happening today. back to you. >> all right. eamon, thank you so much. we did see many market movement around trump's first business day in office. on top of all the meetings that eamon was talking, about he wants to renegotiate nafta.

we did see yields move accordingly. >> some parts of the trump trade have been coming back. we've seen the autos pull back, the dollar pull back. going right for nafta, going forward on tpp which i think are not necessarily bad news. the irony is that emerging markets ask other places around the world rallied. emerging markets up 1.5 on the day. >> objectly the sean spicer press conference on saturday, that i think had a lot of market participant. a little concern with how would it present itself. the market got its footing back when he started to speak and it appears as though that one day was a bit of an aberration. he seemed to have a better handle on what his job was. i'm not convinced president trump is business friendly. i'm not convinced he is market friendly. i think the market is giving him a pass and they're saying, everything he tries to put

forward is somewhat market friendly and it looks like it will work. quite frankly, the resilience of this market is still something to behold. >> not only is it showing resilience, but it is about positioning. i get back to the dollar and back to oil. you see our back ground. live tv from miami, by the way, people. it is very difficult to judge as it was two months ago exactly how the markets will change. >> people are questioning whether or not this is still trump rally. we've been basically flat lined since december 13. we've been going sideways. what is it? is it higher? is it stalled? do we still call it a trump rally? is it getting undone here? >> i don't think it is getting undone. i look at i as the night of the election. we were down s&p. here we are, the s&p the ten handles, 12 handles from an all time high. although it might not be that

robust over the last couple weeks, you're talking about a market within a whisper of an all time high. we have one good day and we get graphics going down. >> we're in a conference, there's always a discussion about whether it is active or passive. look at the auto sector. and the banking sector. you're seeing stock picking within the ranks. gm over ford are starting to perform. we're in a world where we're not that far behind. you have to get back to where people are positioned. if this is cliche -- >> we're at a point where the gold is at a two-month high. in the midst of what you say an intact move higher, we're seeing a move toward safety with the vix going a little higher. >> i think he was then president trump. he was president-elect trump when he made these comments. one of the comments was the stronger u.s. dollar, and i'm paraphrasing but i'm close, is

killing us. meaning the u.s. corporations. and that really derailed that dollar bull move for a period of time. so you're going to have, i believe, tape bombs like this, it will be very hard to predict and very hard to trade around. i think that's one of the reasons why gold has its footing back. >> despite the pro growth agenda, 2017 has been a very good year for bonds. 84 the date, it has outpaced the spy. why is this happening? the largest bond manager is with us to discuss the big comeback. vanguard's global head of vix income. great to have you with us. we're discussing the move higher if bonds, a stunning one. i don't know if that's one you would have predicted five or six weeks ago. where do we go from here? >> i think the big drivers going forward will be fed policy. right? and what happens in terms of washington, d.c. and the administration. there's been a number of things

mentioned in terms of tax reform, from 42 spending, regulatory reform. these are all key drivers. the devil will be in the details. >> where do you see yields going? >> we think yields are still fair value. this 240, 242. you look at six months out. we think the fair value in the neighborhood of 2.5 to 2.75%. we don't see a big move one way or the other. >> there may have been a bigger reaction. what was most oversold? i look at the bond market. different than high yield. is that the opportunity? if you looked at the tail end of last year, they really took it on the chin. we saw significant outflows in november and december. the reality is a lot of that was short term, portfolio re. some tax loss selling. and investors are concerned but a lot of that is back in right now. >> so choose tens, yield curve.

we're nowhere near the extreme levels we were a year or so ago. the yield curve seems to be flattening. is there a level, or is there a place i should be concerned as a market participant? >> i think whenever you look at i. one of the things should you look at it, is it flattened out or inverted. we're far, far away from that at this point. >> a big topic of conversation and the investing world in general, active versus passive in 2017. is that also applicable in the bond world? is there a big discussion about whether active funds are better than tlt in. >> we've been hearing this debate for a while here. this whole active versus passive. it is really about low cost versus high cost. the low costs are winning. half of what we saw last year went into index funds. the rest went into money markets as well as active products.

we see a good look at active as well as passive but the key thing is low cost. >> thank you very much. good to see knew person. so you asked that question with the bank trade in mind? >> with the bank trade in mind. the banks have stalled. goldman sachs has been disappointing since what i thought it was a pretty outstanding quarter. you will hear about the potential, can 2007, the stock traded up to 250. recently we traded pretty close to that level. if goldman were to breach 225 on the down side, i think all the banks, i'm grudgingly one of. i think we might have to re-evaluate. >> i think muni is the largest bond. the other part where i think positioning was off was too much gathering at the short end of the yield curve. if you look at bond yields, i think you can take little shot. the etfs, they have the biggest

outflows ever around the time of the elections and i think that's overdone. what were you looking at? >> i thought qualcomm was fascinating. apple made some comments. i think the continued strength in tesla is something people will start to talk about as this year gets underway. very quietly. the weakness in qualcomm on wednesday. >> especially when you got such a strong percentage gain. it is really highlighting the haves and the have-nots. >> besides tracking down your lost suitcase -- >> don't leave your suitcase in the back of the taxi when you're going to the conference. but you will get it back. people made their lists and their check lists. the airlines are one of those places where there's tremendous fundamentals. delta down another 3.5% today. these are stocks worth picking

back up. >> gold is shining this year but investors are yanking it back. could we see more selling ahead? plus, looking for a way to trump up your portfolio in of course you are. kevin o'leary, mr. wonderful, will be here with three things he says should thrive in the trump world. and later, amazon is dipping its toes in the auto parts industry. that sent some stocks tumbling. a special "fast money" from hollywood, florida, returns

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comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built for business. . welcome back. we're live in sunny hollywood, flori florida. a tough assignment, short straw, huh? the online retailer sets its sights on a new target. the auto parts industry. auto zone, advance auto parts, o'riley. making the move into the $50,000

business. is this the next big thing for amazon? is this the nail in the coffin for these other guys? >> i don't think so. today it was obviously shoot first, ask questions later in terms of the stocks which have all had huge runs. auto zone has had a monster run. today they were down 3.5 to 4%. if you think about the auto parts industry, when you need these parts, you need them quickly. you don't need them overnight. you need them within a few hours. so unless amazon can deliver these within an hour to garage that's need turn over very quickly. >> well, they have a delivery service in place. >> it is a very difficult business. you'll hear analysts come out and say, it is not as easy to get into auto parts as it is paper towels. >> exempt when i go to my mechanic, and i know my way under the hood a little bit too. >> we've heard. >> bottom line, you have an opportunity to disrupt this industry.

we're talking about a $50 billion business. this isn't a massive business. when the stocks have had a massive run and valuations are not particularly cheap. i can buy ball bearings or wigits. >> i'm not sure amazon can do the turn around. maybe it is all things to all people but i think they're getting a little over the tips of their skis here. with that said, everything they do seems to work so this might as well. and the auto parts stocks are expensive. >> they are. so you wouldn't buy this pull back. >> not yet. but you'll hear analysts say, it is not as easy as they think. >> how many times have we said that about other industries? >> i don't know why this is any different. when my mechanic says it is a couple days it is and usually

five. >> where do you go? >> this is another topic for another show. moving to big pharma, battered drug giant bristol myers could be an attractive takeout target. johnson and johnson, possible suitors. the stock is down 14% and they're saying it is a worst-case scenario. things go worse with the lung cancer treatment. >> you have to ask yourself, how many of this is already in the stock price? it is down roughly 20% coming into this action. they did get a little surprise gift over the weekend and getting access to royalties that merck owes on a treatment. i look at this and say it is not the right time to be making a speculative play. all those warts that are in this company, other people know as well. >> without question. the stock has been very difficult, obviously at home since july. this, you're talking bristol

myers deal from one of these skoims probably north of or right around $100 billion. so to your point, pfizer, j and j. in the pharma environment. not $100 billion. so i think there might be a floor in the short term just because these dead appliances we're talking about. but they're still struggling and it is still somewhat challenging in the environment we find ourselves in on top of everything else. >> in this environment on which pharma is really under pressure and they are coming under scrutiny by the new administration. will we see deals? or down sides to these stocks and therefore waiting on the side lines for better deals ahead. >> i think you need to understand who has a target on their back and whether the new administration may be more predatory, to be more defensive. you go to a name like johnson and johnson. it is coming from volume growth and not necessaryfully volume growth and i think you get back

to an environment, i think it makes sense. >> we have to talk about the elephant. we have to. you have to talk about it. there was a crash. we've been doing this a long time. i've never heard a sound like that. apparently it was a tool chest that went flying down the stairs. and now they're picking it up. we can't control it. just so you know what's going. on it is not the market crashing around youful it is a tool box. >> 275. a level on ibp. it is below that now and i think it will catch people by surprise on the upside. it is challenging to stay least. >> it is traded like clock work. 285, 290. >> all right. still ahead. qualcomm more than 12% today following last week's lawsuit from apple and some are vetting on even more pain ahead. we'll tell you how much. you're watching cnbc "fast money." >> we're going to be cutting taxes massively for both the

middle class and for companies. and that is massively. >> and that's music to mr. wonderful's ears. who says there are three etfs that are a must-own for trump world. plus, gold is going wild. and it just did something has the commodities game getting very bullish. we'll tell you what that is when "fast money" from hollywood continues.

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welcome back to "fast money." we are live if hollywood beach, florida. here's what's coming up for the

second half of the show. qualcomm shares taking more than 11%. they are betting the stock could see even bigger news with reports earnings later this week. we'll tell you how big. plus, wall street is losing its lust for goals so what gives? what is the best way to bolster your portfolio with ets in a trump world. luckily for us, mr. wonderful is taking a break from making canada great again to give us some advice here. shark tank judge mr. o'leary is here and joins us now. great to have you with us. >> great to be here. >> so in a trump world, there are a lot of themes. dollar rising, yields rising, where do you go first? >> the first thing i looked at was domestic portfolio u.s.a. what i saw was protectionism all over the place. particularly there are some officers flying tonight from

calgary from the trump regime. i just found this out. to start talking about the canadian caucus regarding energy. and then there's the mexico than situation. so what i want to do is knowing the s&p is 47% international, there's risk in that now. i'm going to up to 20% and i'm going to use the index that culls the herd. there's a lot of risk. it gives me 329 sfoks have higher quality balance sheets. that's a lot of allocation. almost 99% of small caps revenue, domestic. it is trump proof. if we get a bolstered economy and we have the animal spirits, these company are selling domestically. there won't be a tax issue. there's no value add tax no, anything tax. just more earnings. that's what i'm hoping for. number two, i bought some gld. with crazy stuff. and all this talk of moving

rates up and a better economy, inflation. and one way to play that theme is take 10 million in the morning and take it up in the afternoon. and finally, because i'm nervous watching thought volatility. i put a little insurance on the portfolio. i bought the march quarterly. i'm buying some insurance. i'm up a little bit already. the junky stuff is starting to sell off. the energy banks rolling over. i want a little insurance. >> so that's why i pushed back. that's anment on mix trade. that's make america great again. let's hope that happens and there are a lot of good things in the hopper. to say that small caps haven't moved, we've talked. you think markets are complacent. there is too much optimism out there. small caps reflect that. >> that's why i want to derisk the index. i can't read 2,000 balance

sheets. i need someone to use an index to group. i want less vol. small cap companies book a lot of revenues. anyone whose asset turnover is slowing, i don't want to own it. there are only 339 names i like in the index. on the other hand, i like the message trump is bringing for domestic revenue. like i feel those animals' spirits, baby. i just want to have a little less risk in the portfolio. i'm not selling any positions. i want protection. >> i want toably the bob dasani. following all the trends here closely, and you mention that had trump and how to invest in a trump world is top on everybody's minds here. >> did i the lead conference, the lead panel today. every single question was about what's going on with trump and how is he influencing the

market? you can't just buy the stocks that might been it from a trump presidency. at least not yet. there's plemt of discussion around constructive portfolios. so here's one. aerospace, defense, go low on that. and the pkb. building and construction which would benefit from more infrastructure spending. if you believe a trump presidentially see higher inflation, more debt. i'm with kevin. go long gld. a lot here about whether trump will be bullish or bearish for the dollar. he's been very high volume. dollar up and recent down side, a lot. so a lot of disputes there. a lot of discussion about new investment classes. bit coin and pot discussions here. on application for a bit coin. is it going to be approved? at love discussion here. my personal bet is that the s.e.c. will pass on this.

think about it. would you want to sell the schneck how do you sell them on giving mom and pop investors access to a currency, and chinese trade here's are intent on getting their money out of the country. i don't know what's going organize serve asking me about a pot etf. forget about it. they're all, oh company or in private market. they don't really qualify to be in an etf. not going to happen. back to you. >> three years ago, you were one of the first on flag this new generation of etfs called smart date rules based or multifactor. today i went to the conference like you did. that's all everybody is talking about. give us a refresher course on what this is ball. well, active investing may be making a comeback here. some people are saying, this may be the year where would it

really matter. we can to go cash and be a lot more nimble. so as for the smart beta, there has been a lot of good research done in the last few years about alternative ways to invest. besides capitalization. you can do like kevin does. you can do it by earnings growth, for example. and the information, the literature is getting a little bit better. we have a database now to indicate some of these really do outperform. the question is whether they outperform in a long term basis. i'm not sure i'm convinced of that yet but we're at least getting enough date to xat it is intriguing and i think more people should spend more time looking at alternative ways to invest like smart beta. >> all right. thank you very much. bob is one flight up here at the etf conference. let's talk about you. you mentioned the opportunity to kick stocks at this point. that goes right to that active

versus passive argument for 2017. is this the year where things change? where maybe there is still hope for the active funds out there that have been really under fire? >> i think at the top of the show. tim mentioned ford and gm. and i think the haves and the have-nots. you can go to the banks. without question. so do i think this is the year for it? absolutely. and i think kevin brought up a great point. he is buying protection. so that means by definition that he is surprised that the vix is as low. let me ask you a question. why is it an environment where we have tape bombs every other minute. why is it so low? >> i think the market is coming to the realization that we'll get trump tweeting every day. he will hold these wild crazy press conferences and it is willing to when i have that until it sees the outcome of three things. how fast will a regulatory environment change sf and i'm

getting the sense, he just wiped out nafta and tpp in about 45 seconds. i was impressed. that's a big move. so he is going on move the agenda. if that's true, you have to start getting optimistic about domestic earnings. i thought process of deregulating would take a couple years. maybe it will only be six months. >> if you take into the context, think about what's going on and know that sometimes these move exaggerate the moves. i think you can look at the flavor of the month etfs, either active or smart beta and to look see where the stocks you own have been pushed around. and i think this is a possibility. that a part of knees are glaet plays and at times when it is a little bit rough. know what they are doing. that i think helps you with your own portfolio. >> i want to say one thing about today's discussions. i come to this every year. what this industry is saying to investors now, they have the

same story. give me a great manage here has been performing great for 20 years. i can crystallize that person's thought process. that person's way of investing and crystallize it with a very complex set of rules. this is a whole new ball game. they're creating etfs that have have the balance sheets that have been used. >> doesn't that leave you in a place where you're passive and come place end and remove central banks and suddenly people think, yes. i'm along for the ride when maybe there's a lot more volatility. >> here's the only thing that happens. assets under management flows. no asset class on earth growing faster than these new multifactor etfs. they are the el supremo of where the cash is going. >> what does that mean for the

active management firms? like a franklin? a lot of these stocks have been sort of -- >> i think it is a difficult environment. if volatility comes back in some capacity, then i think active guys and gals win again. to tim's point. i think it is very difficult to say, this is tried and true. in perpetuity. but things work in perspetuity - >> i don't mind paying a guy if he can beat it in perpetuity. if these products start to do the same thing at 48 basis points, hey, guys, this will be a really big smackdown. >> there's no question. that's good news for everybody. i have you've gotten to a point where it is clear. that makes sense.

>> do you want to six around for the show? >> i love being here. this hurricane. >> mr. wonderful will stick around. meantime, qualcomm shares on the heels of the apple licensing lawsuit cox there be more pain for the company this week? plus, gold has been on a shining rally. wait, where is he? there he is. down at the pool. hey, dennis, you'd better hurry up up here and get ready. we'll talk gold and hopefully see dennis when he returns. microst cl

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welcome back to "fast money." time for a little buzz. qualcomm's, apple's move could threaten qualcomm's licensing

business. how bad could this be for qualcomm? and they're saying that bits a quarter of qualcomm's total licensing revenue. >> you don't want apple coming down out ever. number one. and it is a big part of their revenue. but qualcomm pushed back. they pushed back last week and they pushed back with apple. they clearly disagree and we'll find out on wednesday. i happen to think, if ever there was a quarter for qualcomm to knock it out of the park. it is this quarter. if you look at the others, they've had pretty stellar earnings. first, i didn't think it would go below 60 so i was wrong there. >> the whole point is this come after europe, after china challenges. more importantly, they've had wins to their business. to race the bottom on fees. so to say they'll knock it out of the park. they have to guide a business where i think at least in the short run. i think royalties are capped.

even before this announcement, i think the business had problems. >> the timing is not suspect but a little concerning. what do you think about the semi conductors in general? >> i've been there for years. i've never seen the 11% market cap. something else is in play. you don't lose this much market cap unless there's a large amount of pooh pooh hitting the fan. >> there must be something in that relationship that apple wants to change forever. because for them to make it public and drag them into this mess, this is a core element of what they do. you don't piss off your partner that badly just by putting on a press release. something else. we have to see the earnings. i'm amazed. otherwise down 11? i would be buying. who has the guts to pull the trigger on this now?

>> where would you put money to work now if not in qualcomm? >> you look at where they're supposed to be some reciprocal. this gives me the most diversification. it gives never benefits. it gives may dividend when we're in a somewhat sideways yield market. >> who is your favorite apple supplier? >> sky works had a pretty tremendous move. they talk about it all the time. is it still my favorite one? yes. in terms of, is there an opportunity in the stock? probably late in the game for that one. >> qualcomm reporting earnings this week. let's to go chicago for more on how much qualcomm could lose. brian? >> you're looking at earnings coming up here and options are implying a 5.5% move. that i think skews more to the down side. options trading six times normal

weekly volume here and the strike and in play. if you're loog at earnings, it is probably about 10% to the down side. where 2% to the upside. that's where you get the 5 1/2 too to have 6%. you look at the charts. $50 is where support is. and certainly we can see that plunge post earnings if we can't get some really good news out of there. >> thank you. for more options action, that of course is fridays, 5:30 eastern time. still ahead, gold's shining rally is sure to be a big topic but retail investors may have missed the move. we've got more after this break.

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say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's over 6 times faster than slow internet from the phone company. say hello to internet speeds up to 250 mbps. and add phone and tv for only $34.90 more a month. call today. comcast business. built for business. welcome back to "fast money." we're live in hollywood, florida. gold has been a big winner so far this year but strangely enough, investors aren't digging it. hey, bob.

>> so the biggest gold, it seems like a lot. the gld has 31 billion. so it is maybe 2 or 3%. what is interesting is gold has been rising here. there's a lot of talk about the use of gold as part of a trump etf. not an anti-trump. if you believe in higher volatility, if you believe in more inflation, in more debt coming down through trump's policies, gold might not be a bad idea. so gold went through $1,200 for the first time in two months recently. it had a nice little rally. part of it, most people here believe the dollar has weakened recently. gold is dollar denominated. a weaker dollar would definitely help gold out over all. also remember, gold tends to rally at the end of january as we start going into the chinese new year overall. so the big question is why are we getting outflow at a time when gold has been doing

relatively well? i think outflows are largely because there's a long term perception that the dollar is in fact going to strengthen and not weaken. i think that's probably the initial issue with most of the gold investments. back to you. >> it is interesting. you mentioned, the most recent data shows for the past two weeks there's been two consecutive weeks of inflows so many people are more interested in being long gold for the past two weeks. >> yeah. i think this is because the dollar has weakened significantly. over a month, at least the data i have. $681 million in outflows over the last month. and i do think that's a perception that dollar long term will be stronger rather than weaker. >> what do you think about gold being a safe haven in a trump portfolio? >> i just put it on because, and i haven't been in the glds for quite a while. my thesis being, if we're going

to be talking about inflate environment in materials of growth. and i for the first time ever heard some talk down analysis talking north of 3% of gdp growth. that's very optimistic but if so, gold will be the winner in that situation. if we can get tenure past 3%, i want to be in gold there, too. what i like about gld. do i own the fiscal gold? it has been a good proxy for a long time now. and incredibly liquid. you want to really in this hard and get out the same day, there is no other way to do that. i would like to hear dennis on this. he likes to say i can drop it on my foot and all that stuff. >> thank you, bob. and we want to bring in the commodities king. >> he's having a great time down there. >> i had my sunglasses on. i should have left them on. >> you've liked gold for a while.

you still like it. >> i do. i think it has a great deal more to do now with mr. trump in position of authority. if we're going to spend money on infrastructure, if we're going to spend money generally which we love to do. it will be inflationary. cotton has begun to turn higher. the grains have begun to turn higher. commodities in general are turning higher. it will be a better circumstance for gold than a number of years. theon problem shall be when the dollar gets stronger. i'm not sure that one has to be too reticent about gold even if the dollar gets strong. i think you can have a circumstance where gold gets stronger. >> that would be if the euro continues to weaken which i think it shall. if the yen continues to weaken, which i think it shall. >> it is because of whatever their central banks are doing. >> you've heard me say this, i would rather own gold in nonu.s. dollar terms than dollar terms.

when i can use a wasting asset, euros and yen to do the same thing. >> if you like gold, do you like gold mining even more in. >> it is outside of my ability to understand who the good gold miners are. others can do that job but that's not my bailey wick. i don't want to wake up and find that a gold miner whose sherrie owned has been watered in. i would rather make a clean bet. >> would you rather? why not? >> quick, quick. >> would you rather? miner or gold? >> gdx. if you believe gold is going higher, the miners environment where the market stays flat to slightly higher, they'll do better. >> miners will do better in a bull market. >> cost controls on miners.

if you like gold, you have to like that. my issue with gold is people who love the dollar are people that love gold. you're saying this too. gold edwits good inflation. that trade, gold's move is a dollar trade. the same people that like both. you can't reconcile that. >> you want something more stable, is that gold or bonds? >> no. not bonds. in this environment, you don't want to own anything beyond five years. that's an absolute given. this is 32 or 35-year bull market the bonds that declined in yields. that's over. is it too early to get bearish? probably. >> what are your feelings about tech with it markets? especially, you've actually witnessed president trump's first full business day in office. >> i think the equity market, on

balance. what has been the trend. it will probably continue. >> until december 13. then it has been flat. >> it has been unbelievably flat. the market has gone completely quiet. the only thing i want to own, give me steel. give me rail roads. give me ships. i want to own those and i'll use the hedge market. >> you drop a hammer on your foot. >> did you see that thing at the pool? you mattered cart crash. let's say this. tim has been all over this inflationary trade. kudos to him. you have to wonder, is the next one higher? or have we topped out? >> it is four, the equivalent. >> ahead of earnings, these guys

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the new season of american greed begins tonight. 10:00 p.m. eastern and pacific time with the wild ride of million-dollar life insurance policy love and murder. again, tonight, 10:00 p.m. b.a.l. buy cotton. >> kevin? mr. wonderful. >> oeuh. she talk about freeing the rich economy even though she's leaving the euro zone. >> tim seymour? >> delta airlines. i think we're at a place where the airlines have all the fundamentals going for them. i think the pullback at 48 is one to buy. >> dramatic shot here. take look. >> the weather has changed dramatically. >> now we're supposed to fly tonight back to the new york metropolitan area. i'm just letting you folks at home know. which means, what's the stock? boeing into earnings on

wednesday. the number much higher than expected. 246. >> quite segue. >> it's been fun being here. kevin, dennis. we'll see you back here tomorrow at 5:00 for more "fast money." " meantime, "mad money" with jim cramer starts right now. 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, and 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 just trying to make you some money. my job is not just to entertain you but to educate and teach you. so call me at 1-800-743-cnbc or tweet me @jimcramer. holy cow. the president actually means what he's been saying. what do we do now? i think that's the attitude of so many big