workers come into the work force, it does give the fed more leeway to say maybe we're not a full employment. maybe we don't have to rush so much. the interpretation is more labor slack than we thought, if it does go up, if workers do come back. >> we look forward to that report. we will learn what is happening then. >> that does it for "closing bell." "fast money" begins right now. >> "fast money" starts right now! we start with two major stories out of the trump administration as global tensions are on the rise, secretary of state rex tillerson and president trump are both getting tough on syria and this as the president has arrived in florida, getting ready to meet with chinese president xi. the tough talks, the stocks say that was up at 100 points, the highs on the day, ending up high higher, about 15 points. eamon javers and kay kayla is in

florida. >> reporter: hi, melissa, for the second day in a row the president underscored his horror of the pictures of the chemical attack in syria. this time the president did it by poking his head in to talk to reporters on air force one and in palm beach, florida t. president signals head horrified by what he had seen. there are some political impacts to that. here's what he said. >> what president assad did is terrible. i think what happened in syria is one of the truly egregious crimes that shouldn't have happened and it shouldn't be left. >> sometimes a little hard to hear there over the jet noise t. president said what happened shouldn't have happened. it shouldn't be allowed to happen. what he didn't say is what specifically he plans to do about that. secretary of state rex tillerson already in palm beach had something to say today. he hinted at the formation of a broader international coalition here against the assad regime, here's the secretary of state. >> well the process by which assad would leave is something

that i think requires an international community effort, both to first defeat isis within syria, to stabilize the syrian country, to avoid further civil war and then to work collectively with our partners around the world for a political process that would lead to assad leaving. >> mellissa, this is a big departure for the trump administration. you know the president has spent a year or more saying that the united states should not get involved in syria, that the united states made a mistake by trying to conduct regime change in iraq and criticizing the adventures in libya of the u.s. military, here, though the president does seem to be considering at least some form of regime change with international partners. >> that would be a big departure for this administration. it goes back to that moment yesterday in the rose garden when the president said, i have changed. i'm flexible. he underscored just the impact emotionally that those pictures of the dead syrian children had

on him personally. we'll see what that means in terms of his presence. >> we thought the comments yesterday were hawkish. it seems like it's been taken up a notch so to speak. we got headlines before that, that there were a number of options that the pittsburgh was considering. we now know the secretary of defense will be on the ground shortly, don't we? >> the president considering all option, presumably, military action of one kind or another, not clear what the united states would do here, not entirely clear what the u.s. capabilities are, the united states does have assets in that region. it does have a lot of things it could consider. the question is here, where the president wants to go. we have been very wary of foreign interventionalism. he is wary of boots on the ground. he seems to think the iraq war was a mistake. he is skeptical of regime change. what does all that add up to here? not clear yet. we might know the answer at some point. >> thank you. as we mentioned, it's not just syria, the threat of north korea expected to be a big topic

for president trump and chinese committee xi. here's kayla. >> reporter: melissa, that same period of questioning he showed you above air force one, the president was asked specifically how he would like carolina to respond to the increasing nuclear threat by north korea. the president, i'll paraphrase for you, because it was inaudible on the tape. he started talking about u.s.-china trade deals, how bad they were. he said, somehow they were mixed. they were mixed. so we're going to be talking both trade, north korea and many other things. secretary of state rex tillerson in public commentary on the tarmac did mention north korea and specifically in more detail what he is hoping china will do. >> we're hopeful that china will find ways to exercise influence over north korea's actions to dismantle their nuclear weapons and their missile technology programs. whether it's using their authority on the u.n. city

council or utilizing new leaders of power, china can be part of a new strategy to end north korea's reckless behavior. >> reporter: but it's unclear how willing china is to do that or to what extent china feels it has done that. north korea repeatedly violated u.n. sanctions that have been in place for over a year at this point. china preemptively in february said it would halt all coal impormt ports. it will be interesting that tough discussion takes place. the president of china has yet to make his way to mar-a lago, the press secretary tweeting the final preparations are under way for that arrival. we know at least the first couples of each country will be dining tonight, melissa, as we get any pictures, we'll bring this to you. >> thank you so much. with all that risk that is looming overseas, you think, you would think we would see more fear and panic on the streets. even with all of this going on, the end of the day went

relatively flat. here's the question, where are we selling? it will be the same that derails this rally. >> can we put the last day in conflict. you had a market rallying yesterday. fed minutes coming out, feather talking about markets being overvalued. i'm paraphrasing. letting securities roll off their balance sheet. then have you it down significantly overnight. i think it's a four-month low now. correct. today you have rising clearly rising tensions in syria, tough talks to the russians, north korea is a whole different entity. i get it. market reversal yesterday. what happens today? the russell up a percent and the vix is down 4%. >> completely counter intuitive. where is the selling coming from? i'm not sure it is selling. if you had any opportunity to solve the market over the last 24 hours, it didn't happen, leads many eto'o believe counter headlines come back the markets continue to go higher. i am no raging. but i am trying to put it in

context. >> yesterday the fed news comes out. we will see guys press their shorts into the ends of the day the market ruled over. today we we heard droggy contents that were droggy. we saw more of a risk on appetite. what happened? they went and covered their shorts. at the end of the day the markets are being jumped around around pushed around by positioning, by short--term gamege. at the end of the day, people have positions on, they are hoping for, again, hoping for this trump initiatives to come through. we den knon't know when that's to happen. we need more headline news on that. >> tax reform trumps the possibility of military action on two fronts. ? here's the thing. >> it was an interesting world. >> it's interesting, the other add into it. what do we know about president trump? we know his opening salvo is always something relatively outrageous. he's our new york real estate developer. that's how he negotiates. he comes at you with something that's hard, that you don't want. you start to come to the middle.

i think that's why the market bore a late deaction today. the markets went nowhere. many people said, all right, let's wait and see, nothing's happened yet. all the bluster that happened during the campaign, there hasn't been much that has changed. when you haven't had lines like this, the first thing i said, let's wait a few days. >> the bluster on north korea may not have changed. what is changed is a more hawkish tone when it comes to syria. >> that seems theoretically on paper should be a more feasible market. >> so far, it's the biggest uncertainty, why? if we see, this is the first strong man that president trump is speaking out against, when you think about all of this stuff the president of egypt is shaking his hands, he won't shake our allie murkel's hand last week. here's the thing, we may find out soon what the rugs have on president trump. very soon, if he goes down this course, a break with his commentary about the situation in syria, it clearly would be an

ad verse situation i situation. we will find out what's going on. >> are you not worried? >> no, every single day. >> let me rephrase the question, not because a human being or united states citizen, as a market participant, are you worried given the action we've seen. i see this i read the tea leaves. this is sort of a rorschack test. it looks like on oil blot. >> to answer your original question, am i worried? absolutely. i have learned the hard way that every time something rears its head that should sell this mark off in a significant way, it's met with buying that manifests itself seemingly out of nowhere. so, yes, all these developments, absolutely have me worried. the reversal in the market yesterday was significant. with that said, when the vix is down 4% given the headlines we just talked about, what is that telling you? i might be worried, seemingly nobody else is. >> the s&p is very constructive when you think about it. it had that long consolidation,

it broke out in february. it's consolidated here. there's good support. down to 2400. that was that day after that one-hour that i read off the teleprompter and everyone was euphoric. we are probably going 2400. now that we have to set and reset, we will fought get news on health care, we know tax reform is pushed out here. it goes on earnings, to me, i think q1 gdp and q1 earnings are baked in the cake here t. most important things are what is competent management, how are they going to talk about about their resources. >> big time. >> more so than geopolitical. >> if they're not cautiously optimistic over the next month, i think we will probably sell off the low 2,300 s&p. >> we are joined by chris rudd di, which broadcasts a news network remember he joins us from boynton beach, florida. nice to see you.

>> thank you for inviting me on. >> you certainly know president trump more than all of us on this desk combined. so when you hear how the tone has changed in terms of the president's attitude towards syria, when you hear what he said regarding north korea, how concerned should we get or do we take this with a grain of salt and say the president is full of bluster sometimes, maybe this is par for the course. >> when you say how concerned should we be -- >> that there will actually be military action of some sort? . >> i think it might appropriate to do military avenlths i supported president obama using military force. i thought he should have done it without congressional authorization. he should have stood by his red line, obvious, president trump is looking back at that now and seeing that that was a mistake and i think based on his demeanor that he's very serious in taking some action. i don't think he's ever going to put boots on the ground.

i don't think he's very clearly made it very clear he doesn't want another war in the middle east, but i do think he's inherited awful situations from the obama administration in syria and he may do military strikes. i said that this morning. and it seems like more time is passing and that could happen. >> how does this at all, if at all change the calculus within it gets to the domestic agenda, will he be more eager for quote/unquote wins when it comes to tax reform, maybe a less strong package could pass? >> well, i think he doesn't connect what happens militarily or with foreign policy issues other than some of the trade deals and things he's working on abroad. i think that right now, he needs to get a consensus if congress for legislation on tax reform and the infrastructure, even a health care bill. i think he told me recently that he really wants to re-visit

that. that's not something he's going to let go. he is perhaps the most determined guy i have ever met in my life. we started in this recent election. we've seen it throughout his career. and i think he's a fighter, he's going to try to get legislation passed. >> yeah, chris, it's david ze eiber. good to see you. i wonder if you mentioned this to donald, we spoke the last time about managing expectations. when he came out we talked about big, big, big tax cuts coming. wait for a couple weeks, we will be showing the big tax cuts. we don't get that. the expectations the market has put on that language is enormous. i think really tempering that and making sure that that's controlled more going forward is super important, especially when it comes to how people are setting up based on tone and, you know, and language. >> i think if i was a political adviser to the president, and i'm not, i'm a journalist. i run news max, but i would say it's better to start on the

administration with low approval numbers and he's at that now. and a low stockmarket and build into it. and you're right, david, i think the president's inheriting a situation with a very high market. it's gone up ever since he was elected. it's going to be very difficult and if you look at the landscape in congress, i think it's going to be very hard to pass legislation that he likes and he's, it looks like he's buying into the idea that any tax cut should be revenue neutral. >> that they have to be offset with other cuts in the federal budget. i think that's a strategic error that's going to haunt him for the next three years. it's that, if he embraces that notion. >> does he agree with that? i'm curious, you talked to the president, what have you gleaned from him being his greatest regret? how does that educate you in terms of interpreting what is the most important thing next on his agenda? >> so, we talk a lot since he

was elected. i used to talk to him quite a bit through the years, i've known him for over a decade. but we don't always go into every spec policy issue, i don't ask questions about this policy issue. he wants to deliver big tax cuts. he promised that in the campaign. he was advised by members of capitol hill, paul ryan and others to do the health care bill first. that's clearly a strategic error, they should have done the tax reform bill first. you know, i speak to people that were in the reagan administration if you talk to larry kudlow on your network, he will tell you they passed the reagan tax cuts, first order of business. it was not until the spring of 1984 that those tax cuts were really seriously impacted and felt upon the economy. so there is a lot of time that's passed already. we've already had a fiasco with the health bill. it seems to me the president needs to move quickly and seize the higher ground t. tax cut i

think could be very popular. he might even bring in democrats with it. >> all right. chris. hope to see you soon. chris rudd di, the ceo of news max. >> i think he said it. he didn't sound too optimistic about getting this agenda through. so at the end of the day, any tax cuts we get, they may 'offset. i think really keep the economy or expected growth at bay. so we may never ever really get above two, 2.5% gdp growth in the next years. in there is no legislative action on infrastructure and tax reform. >> still ahead, energy the worst performing sector this year. the chart master says things are about to make it worse. maybe it's not the apocalypse quite yet. we have the details. we all know president trump loves twitter. he's about to have a major showdown with a social media company. we got more on this developing story right after the break.

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call for a free quote today. liberty stands with you™ liberty mutual insurance . >> welcome back to "fast money". we have a developing story on twitter with the trump administration. julia. >> that's right, twitter is

suing the u.s. government for demand for records that would reveal who is behind an anonymous antitrump attempt. they filed in a federal court, writing, quote, the rights of free speech afforded twitter's users and twitter itself under the first maemd of the u.s. constitution include a right to disseminate speech. they say u.s. customs and border protection demanded records that would lead to the unmasking of atalt underscore cis account. they say it's unlawful to show it's trying to investigate a specific crime. we have been tweeting critically about u.s. customs and border protection and the government immigration policies was created in january had about 15,000 followers since the story was first reported about an hour ago, now it has 48 total followers. the account recently tweeted the first amendment and retweeted

the aclu, it said it would go to court to defend the user's right through an anonymous feat on twitter, it will protect the user's privacy. they will protect wall street protestor. they have guidelines for law enforcement explaining how to request information about twitter accounts via a legal process. mellissa. >> thank you very much. how important is this to twitter's reputation of being a place where you can freely express your views? >> it's important. this campaign on social media people don't know how to use it. even the president, himself, during the campaign, he used it, he weaponized it for all intents and purposes. i think both sides came out. i want to make one point about this article, twitter got him into the white house, but may be able to get him out. it's causing a lot of problems for me, if you think about that, when it was easy, good afternooning carter, it was easy using twitter. okay. but now it really has been a real problem.

>> has it been a minefield? >> can i tell you his great point, don't pick fights with people that buy the ink by the barrel. every character draws out the post the "new york times," the negativity. >> reams and reams against it. >> all of that said, nothing helps. >> we talked about that, for only $10. the stock's not worth a lot here the value of it is they can figure out the user base. they haven't fixed that out t. value is monetization. they can't figure out the game. at the end of the day, this, however, i would say, i would commend them for standing up for the privacy side of it. we saw apple. i think it's amazing to do that. part of their culture, i believe in that. >> it hasn't helped the stock one bit. the problem that twitter had is that they have now the president of the united states, probably the most prolific twitter tweeter of all times, we talk about twitter every single day.

we talk about this company that uses it every single day. they can't monetize it. the one thing they did i thought was interesting, now they have a new api, where developers can come in and start using the twitter platform to build something on it. >> that might work. >> that will take six months to a year before anybody picks up on it. there is not much here. >> talk about a beer run. they make an epic comeback since the election stock is pouring. we'll hear what the ceo told jeff later this hour. in the meantime, here's what else is coming up on "fast." >> earnings have come back to light, they're growing at their fastest pace in years, before you jump into the market, there is something about that growth you need to know. we'll explain. what happens when professional triggers bet against the mark, while retail traders rush into it. maybe not.

something has changed with the retail investor. he will tell us when that is when "fast money" returns. the . the thinking we put in, clients get out. power your client's portfolio at powershares.com/qqq. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc. containing this information. read it carefully. with e*trade you see things your way. you have access to the right information at the right moment. and when you filter out the noise, it's easy to turn your vision into action. it's your trade. e*trade. over hereno!ver here! (dog barking)

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>> welcome back to fast money. here's what's coming up in the second half of the show. the ceo, the parent company of beers, krona, talking the border adjustment tax, jim cramer will bring you those comments, plus the retail trader is back in full force with the ceo interactive broker says that is creating a quote volume for stocks. he'll be here to tell us what

that means. first the s&p sitting near record highs, with the earning season rapidly approaching. what will investors expect? dom chu is in the room with more. >> reporter: this earnings season will be the markets since the last season. it's a gem sense of optimism. here is your early round-up of what you expect. according to thompson reuters if all earnings come in according to analysts estimates, s&p growth will be 10.1%. sales growth will come in at 7%. as for what's driving a good portion of that anticipated growth, well, remember how over the last couple of years, you were talking about the track in energy stocks, well, things have really flipped around, now because how bad things have been and the sense that you've hit a trough in earnings results, growth in this sector will be a huge thing year over year, energy earnings are expected to

grow by get this 603%. revenues are expected to grow 35% by next 84. >> that being said the energy sector is the seventh biggest out of the 11th in the s&p with an approximately 6.6% in waiting. if you are in the camp that likes looking at exenergy, s&p earnings are expected to still grow by 6.2% and revenues by 4.8%. it all gets into full swing, okay, next thursday, with big bank earnings, j.p. morgan chase, wells fargo and citigroup, a lot of eyes will be on the gas tax as things progress this season. back over to you guys. >> thanks a lot, dom chu in the newsroom. on the conference calm, they tend to give guidance about the economy. a lot have been out talking about loan growth, loan demand, improving animal spirits. >> pete has been on this, everybody here has been on the

bank trade. >> i haven't been. >> that's not true. >> go ahead. >> he's been off. >> i have been off. i went to -- >> the thing with the banks, even if the economy is slowing. i do think there is room for the banks hired. karen mentioned this last night. on the fact there will be reform, regulation rolled back. that's extraordinarily bullish. i'll say this to me, it's not multiple for the banks, it's about price per tangible book. at the height, they were trading anywhere from two-and-a-half to three times, now they're closer to 1.4. >> the regulation -- hasn't been able to get anything done yet. what gives you the confidence? >> that they will be able roll back regulation? >> i can speak with no confidence about that. i think out of all the things that president trump is trying to push through, i do believe that's one where i think he has a chance, at least a viable chance. >> what about comments about glass yield, that's big, that's very important to the large

banks, so who wins in that scenario? goldman sachs wins. >> even that, like that is a meaningful piece of like information. >> of all the most important people in the white house who happened to work at goldman sachs. >> that is a major beneficiary for firm line goldman sachs. >> it's probably not going to happen. >> let's put it this way, there is a chance it could happen. >> it falls off. a momentous moment. >> banks at this point in time, if you want to be short, i'd rather be long bonds than short banks. because momentum is on my side. >> how can a bank give good t. earnings guidance is important. guidance is super important. how can you be super constructive on guidance without having trump. >> trump gives a discount. look at the way the banks act this year, they're not acting well. they're not telling you there will be deregulation, they're not telling you the yield chuv

curve is what they need to do. i don't really see a really compelling case to the banks after the massive run. let me tell you this, when you look at the s&p 500, you say you got all the bankers into the next weeks t. after the money straddle, basically pricing how much movement between now and say april 21st, which is april expiration, it's pricing like 1.5% movement. so nobody is worried about anything right now. i'm not telling you, you should be. maybe that's the right trade right now. we have massive complacency, i think the idea of granting losers this year, doesn't make a lot of sense until you get something fundamental. if they guide up and they tell you, we will get there and have that, you go buy it. they will go back up to your point about tangible book. >> banks haven't done that, energy is the worst performer. of course, the comparisons year on year are very easy. >> it counts for energy now, it's a completely different world. i we heard something ridiculous how growth will be, it lab

astronomical in terms of what we saw last year. listen if you think oil will go sideways to slightly higher from here, like ana darko petroleum. if you think crude oil can go sideways, i think you want to be in a leverages energy place. >> analysts are expecting strong growth for energy. but it's the worst performs energy this year. there could be more pain ahead. carter, what do you see? >> sure, nothing like a 10% move in an energy sector to get people sort of bullish again, it was the same crowd bullish in october, november, crude hasn't moved in a year. let's do a little exercise. so what i got here is four scenarios. and we're going to talk about the energy sector over the last five, six years, keep these in mind. basically, energy made no progress. these are other scenarios that one could have achieved. if you look at the next chart, what we will find is, this

period, where energy is essentially flat, this is the s&p 500 energy sector. let's just say all you did was when it was an uptrend, you were long. and then as soon as it broke like a monkey without any insight, you decided to get out. the next chart, what we have is, now we have the down trend. you will see here, it's the same thing. so now like a monkey, we're going to get long, having gotten short on the break. let's try it again, next chart. no insight. no judgment. here's the new trend and what we've done now, of course, is we've broken trend again. so if we look at the next chart and put it altogether. let's just say you simply follow the bake rules of trends, which is to say, we went long when it was and up trend, when it broke, we were shorter under way and when we went long again when it was an uptrend, now it's broken again, we got out.

now, if you did this, you have no results by and hold. if you simply did buying buy, you are up 40%. if you are able to do long and short each time, you are up 80. you could say, well, no one could have done that. if you actually, something that no one could use, you got the absolute low, absolute high, you have 280. i'm not proposing that. i'm only proposing being up 80 which is in line with the s&p. take a look at the next chart. now, here's the same time frame, and what we know is that energy's relative performance is not improving. even as it's gone up, it continues to trap people, believing that somehow it boughtled. i do not believe it's bottomed. finally, one more chart to put it into perspective, oil moves to all time highs. this is not oil. this is the energy sector, itself, $110 per barrel. what we know, even as this was happening, energy's relative performance, the s&p has been straight down. it's the trap that keeps on trapping.

and people are doing it again, in my opinion, getting long just because it went up a few days. >> carter. >> yeah. >> come on over here. >> c'mon. >> that's a fancy toy. >> that's maestro. >> so, you're references to monkey. >> i played. >> everyone is playing that. >> i said, look, let a monkey like me can see it's breaking out. let's say you have no insight. you have a dollar neutral you knew all about supply. you were just following trend. you win, just by trying to say, hey, it's bad, i get out, it's great. >> so this chart more driven than any other chart? >> no. >> the monkey can see? >> how about a big uptrend in dot-com? trend is a word. it's what the outliers know.

>> that would give you almost a 300% gain, miss until it breaks and so forth. very practical. >> yes, so. >> so we're trying to draw people. >> what's the down side to this intrend trend in your interview? >> we few it can be stuck at 50 for how long, a year or more? what will drive it? except, you can see force dejour, north korea, syria, oh that's the force majeur. >> what does it say about crude oil? >> generally i look at it first and say i want to buy or sell the energy sector. can you do it backwards? the energy sector is falling, crude will fall? >> it's interesting, if you look at gold shares versus the metal or versus the commodity t. shares market is not really keeping up with the balance. the balance is 10% in crude and

5% in energy stocks. i think it's a trap. >> what's your trade? >> it's really interesting, i was talking about the buy. it has not been volatile. we haven't had this movement in the last year or. so to me, we have every other risk asset, crude have been bottle. at some point this year, s&p will pick up. >> look, i think the e & p with energy, look, i think you will get better data points. >> you get better driving. we have the driving season coming up, the refiners bring in draws. >> the electric autonomous driving season. >> but look, e & ps, i think it will be based on positioning, you can make money following the positioning on this market. >> while the retail investor has gone all in, the so-called smart money is fleeing. could it be a sign of the top? we'll explain. >> comcast has the wireless mobile service. how will the move impact

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hi, bob. >> reporter: hello, mellissa. everyone tries to get a leg up by watching the competition. by this way, traders look at options and futures contracts for the s&p 500. according to commitment of traders report, commercial traders, this is so cool, smart money, are betting the markets will drop. they have more short positions than at any time in history. non-commercial traders, these are usually speculators, smaller traders are all in. they hold significantly net long positions. so there's two theories operating here. first is the commercial traders who hold the majority of contracts, both financial contracts, they're the smart money. they usually buy the contract to take deliveries of it. they supposedly know the most about the market t. other theory the second theory is the non-commercial trade herbs the small guys, who generally are not interested in taking delivery. they don't know as much. they're smaller, therefore, they're called the dumb money. >> that itself the theory.

under this theory, follow the smart money, bet against the dumb money. who's right? the small speculators get in at the top and not the bottom. not always, for example, they went along with the trump rally right after the election. they were right t. commercial traders were generally short, a lot missed out. most of that rally right after the election. remember, so many investor sentiment polls, i don't particularly like these labels, dumb and smart money. i tell you something the dumb money went along with that rally. they were absolutely right. you got up with of the great traders out there. he is here with the you asked tom if he went along with the momentum traders right after. i think i know the answer there. find out if you can, melissa. >> i agree with you. smart money is right money in terms of the trade, right, it's the bottom line. bob. thank you. bob pisani. for more on what retail investors are saying about the market. let's bring in the founder of interactive brokers, many call

him the father, i should say godfather t. father of high speed trading. tom, welcome to the show. i will kick it off what problem pisani was asking, did you get long the trump rally? >> well, i must see the dumb money, it's election night. i went very long. >> you went very long. are you still long? i'm curious how that compares with the quote/unquote, you know, professional money in the markets today and what you're seeing at interactive brokers? >> well, first, i'm still long, but i'm lightning up. and as our interactive brokers, our customers are concerned, they have very optimistic. in the last three months, we have more than ever before and our customers actually see the reason by first cents and margin loans relative to a year ago.

butsh sorry. >> tom, i was going to mention margins,ly bring it up. margin debt is at historic highs, does that concern you at all or one of the things you don't worry about until it's a story? >> so, of course, it's of some concern, but as has been happening, it's that investor, it's been a successful strategy to buy eps and high capitalization stocks and margins and the right coal options. and so who buys these coal options, it's professional investors who buy the coal options, they hedge it by selling the underlying security and, thereby, getting into a new position. now, as underlying stock takes off, then it becomes a loan, they sell into the market as it drops, they buy into the market. so they sell up, they buy down,

and as a result, they bring the volatility down. therefore, volatility has been of a historical low in spite of the fact that in many investor's mind, they hold all kind of uncertainty. so this is a great contradiction and how it's going to be resolved. i have some ideas. >> what's your number one thought we're short on time, in terms of how this will be resolved, what do you think? because it does seem that people want to be in that market. they don't necessarily want to sell, i mean, just look at the price action, we saw, for instance, today. so how do you think this gets resolved? >> so as you see, the market usually closes where it closed the day before. it doesn't really move much. right? so what is happening is as we say, they're selling to up mark, buying to down markets. they basically bring the markets

to a halt. however, it's due to some fundamental move t. market moves two to 3%. all of a sudden, in other words, the exchanging they do not know and they will be able to play against the mark and at that time you will be going into a vacuum and the market could easily be within the next several minutes move five and at that time when a smart investor will have to go in and create against the margin. >> tom, we will leave it there. thank you so much for joining us. you notice i hear gamma, i have to go to dan. >> oa. real quickly, you know, it's kind of my belief here, we had this consolidation and volatility. mart mon smart money, dumb money, to quote that guy, warren buffet, nobody knows where the market is going. here's the thing the way people

are positioned a bit. it's a one up, down two scenario. i'm not sure the market can have a meaningful next leg higher before we get a scary sell-off. so to me, i think it's one up, down two. i think you will get a better opportunity. >> has anybody seen the performance of the so-called smart money over the past two years? it's devastating. they are underperforming benchmarks across the board. so i don't feel anything in the hot water or credence on these, smart money, dumb money, i follow my trade is there they wanted to be short bonds. >> right. >> equities that hasn't worked. >> the one nut i would take away from what tom said. he said he'd lighten up. you don't know where the market is going to go. the guy that bought the trump bottom is lightning up. listen for that. >> the beer and spirits make, soaring on post-election losses, we will hear from the ceo on the turn around after the break. plus the wireless wars are

heating up as comcast, one trader is betting one of the stocks right there is about to surge. we'll give you the name. you are watching "fast money" on cnbc, first in business world wide. [ engine revs ]

[ screams ] [ shouting ] brace yourself! this is crazy! [ tires screeching ] whoo! boom baby! rated pg-13. [ screams ]

welcome back to "fast money". shares slightly lower on the comcast news, up 134%. in the past, they will be offering an unlimited data plan. one trader is betting there is more room to run, dan, what did you see? >> it's up 300% over a year-and-a-half or so. this one is interested. call data was two times that of put. it caught my eyes. stock was trading 830. the ten call. the vat is bought to open. i don't know, it's interesting activity. >> that break it up on june expiration. that's pretty significant. let's go to the cart right here. this is from the lows just above $2 bucks. when you think of this. this thing has really good support down to here. that was the breakout level. that's about $7 or so. that would be the level, if you are long this stock, you may want to think about getting out below that. let's just go a little bit to the longer-term one.

$10 is kind of interesting. when you think about it. there was a the high from 2014. there could be some resistance there. you got to remember, there's been a lot of talk about some consolidation, t-mobile, maybe sprint, maybe a big cable player. that sort of thing. that's why you would be buying up calls. i don't love it here. i wait for a pull back seven. >> i don't like it from a trade perspective. sprint right now is valued on, you need to take t-mobile. >> that i need to take them out. and they're doing some things that would be a little creative on their end. it's like leveraging, you know, using their spectrum to leverage in finance. right. so i looked at it and say, near term, i wouldn't touch this stock. we have more time in the quiet period until the spectrum options. after that, it could be a buy ground. >> check out more option os action tomorrow. coming up next, a shiny rally for one precious metal. we will tell you what that is when we come back.

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decisioning on, you know the probability of this occurring, you know, fundamentally, we got strategies in place, if it does occur, you know, if it doesn't occur, that will be great too. >> constellation brands bob sands talking about the border adjustment tax. much more, number interview, tonight half of the our hour on "mad money". final trade time, dan. >> that's really interesting on the back end, also, i'm carter xle, sold. >> all right. >> for me, i'm going to gold sector, gdx, the gold miners, i like those. >> i think the a & p needs to ramally. >> you like the monkey talk. >> you know what i did during the day, what's the first thing i do when i wake up? >> i don't want to know. >> shower. >> no, everybody is a jerk. >> i did in the say anything. >> thank you, bk.

from that world wide exchange rate, today they had a great interview on the squawk son the street, you should go back and listen to what he said. >> that will get you done. >> i'm mellissa lee, thank you so much for watching. see you back here .. 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. >> it's the anti-amazon rally! yep.