netflix and amazon and huh will you have a huge library of content. if there is a new content on tv, we'll people could say, why am i watching on cable? >> the library wins. i love. that julia, thank you so much. our julia boorstin. >> that does it for "closing bell. kwats "fast money" begins right now. >> "fast money" starts right now, live from the nasdaq market site overlooking new york city's time's square. i'm melissa lee. tonight on "fast," a top strategist says the market has just entered a new phase he is calling trump trade 2.o. what does that mean and who will be the winners? he'll be here to explain. the united ceo says the words everyone has been waiting to hear, "i'm sorry." both social media here and in china in an uproar. we'll tell you why it may be too late for apologies and the stocks. later on, oil slid on reports of

more production cuts from opec. the commodities confidence got the boom. but first, we start off with trump's push for infrastructure and tax reform. we met with a number of ceos at the white house, fortunately, those meetings took a back seat to a brewing conversation that took place a couple hours later, hi, kayla. >> reporter: hey, mellissa, the white house held yet another ceo today with business executives and investors alongside cabinet members to discuss tax reform, infrastructure, education, the budget and a whole host of other issues, but theed a palestiniad overshadowed mid-day as it was asked again to defend its singular strooic in syria last week. press secretary sean spicer repeatedly saying this. >> the minute you use chemical weapons, in world war ii, you know you had someone who is

despicable as hitler who didn't even sink to using chemical weapons. >> reporter: the unforced error, of course, it quickly made waves and drew criticism from a number of groups, namely jewish community groups t. white house was later forced to clarify, spicer saying in no way was i trying to lessen the horrendous nature of the holocaust. i was talking about dropping chemical weapons on population centers. any attack on innocent people is prep pre hencible and inexcusable. perhaps this exhibits the foreign policy around the trump administration has become complicated. have you secretary of state rex tillerson arriving in russia. the president is meeting with the secretary of nato tomorrow, an organization he has criticized and days after a cordial meeting with the president of china down in florida. the president took to twitter yet again, talking about north korea and trade saying on twitter, i explained to the

president of china that a trade deal with the u.s. will be far better for them if they solve the north korean problem. he later went on to say, that if they don't get china's help, they will solve the north korean problem by themselves, without china. so a lot of moving parts here at the white house right now, mellissa. clearly the ceo conversations are very familiar territory for the president, for the white house. he wants to remain committed and eyes on the prize as the financial agenda, but there are a lot of other moving parts that he is having to deal with in the near term with very high stakes, themselves. >> kayla, thank you. the reason why this is all relevant to the market, with distraction after zax coming out of the white house, there is less focus being spent on trump's tax agenda. the markets starting to get impatient. check this out the volatility index, the highest level since the election. ten year yields are falling, touching their lowest levels since november and gold today surged and retraced all of its post-election losses, it is now

up 10 thursday this year. the market move is on, the clock is ticking for the trump agenda and the trump trade. how much more times are they going to give the president, guys? >> i think you got to give them until earnings season. >> well, no, in terms of the market. because i think to your question, if earnings are tepid or lousy, i think that will -- it will have a negative effect on the market going forward, in other words, six weeks ago, they would have given it a pass, now we're at a point where the president iagenda seems to be flawed or will take a lot longer than he thought. which is why i think this earnings season is critical for the market. >> right at the end of april we have this budget fight. one of the most interesting things to me today was that first half an hour of trading. we had that tweet before opening. it was geopolitical in nature. we saw stocks sell off. we saw people move towards treasury the big spike, the vix spike the gold spike, that combination is what we could

find ourselves in, if the data, the economic data continues to be, you know what i mean? we have a situation where corporate managements are not guiding a real confident manner. then i think you have a sell-off in may. >> what do you think? >> i think it evolved over the trump rally. at first i thought it was only due to policy, tax policy, things like. that then i really started to think this was something to an animal spirits. i believe the environment has changed. people are more, ceos are more optimistic about less regulation. however, the likelihood of the tax part of the agenda, getting done is lower now. >> lowered be i the day. we talked about two months ago, he said we have a phenomenal tax plan in three weeks. that's ridiculous. now with health care having failed, the administration kind of stumbling. >> right. >> so it seems less likely, which makes me less optimistic about the rally continuing.

>> right. >> do you think we will see volatility even higher. >> it's great t. optimism numbers. to guy's point, though we have to see the time pass at some point from optimism and animal spirits to actual results and what we are already seeing in lending is there is a massive slowdown in commercial lending. it's less than 3% year on year compared to what 8%? 9%? >> i get. that i think the portfolio landing was better. you get seasonal facts. the facts are bearing the burden of that. the three things on the market, we are talking about the vex t. market has done almost nothing. you also have a case where more people are in passive investments than they've ever been. have you this plot of money into ets and you name it. i think we stocks get ugly, it will get even worse t. market depending on what guy says, is ets. bottom line, are we in a late stage or early acceleration

stage of a market finally starting to pick up? i think it's more towards the latter, frankly. >> there are reasons, there is positioning going on and they were seeing, people were short, a european vix would spike. they were hedged with long u.s. vix. >> that may be causing positioning trade going on. in other news, gold, the yen, exactly. in these safe haven trades, that's kind of undeniable. >> the moving of the vix in my opinion, the vix should have been here the last month-and-a-half, two months, it's here now t. move in bonds i think is somewhat interesting. at a certain point, you have to ask yourself, is the bond market sort of trying to tell you something about the economy moving forward? again the yield curve continues to flatten. was it a problem six or nine months ago? maybe it will be a problem now. >> look at tips, this was a hot security, inflation expectation were 13-year highs. these things have been

liquidated in the last few weeks, actually, for me, it's setting up as a buy. >> the media, the white house today, have you ceos, they go to the white house. they've done this on numerous occasions and come out with nothing. they called him the zhaolander president. he says this, understands little and they don't do a whole heck of a lot. i'm not so certain you will be able to get these ceos down at the white house if they don't get some sort of -- they got to get something. right? like you said, karen, in february, we have this glorious tax reform planned. here we are almost in mid-april. they got nothing. if we get into late spring, early summer, they have nothing. >> what can they come away with right now? i kind of agree with karen the confidence with the the sea suite is very high because there is sharing time. he doesn't sister to do anything. >> stockmarket is at an all time high. there is so much uncertainty, are you going to guide in on optimistic fashion here? what are you going to gain if are you a cfo?

>> why do the bank dee fees with jamie dunn saying things are fantastic, we are seeing an uptick. something has changed their animal spirits. there is nothing doing that. >> social lending. the net interest. the yield curve. >> it will be like. >> we'll talk about banks later on in the show. i think you have a place here, depending on our sector, nice cam reform, even without fiscal reform, think of the people in charge of the environment, think of the people now in charge on a regional level. think of people in charge of regulation, across major sectors of the economy. it's a totally different game. >> that has, if are you a ceo in that sector, you have to, even without any change, you are better today. >> geopolitical risks, they have been the same all along, it seemed tired today than any time in the administration. >> yeah, weeks ago, syria wasn't necessarily on the radar, north korea wasn't necessarily on the radar, potential hot spots. >> do we ever think that trump was going to flawlessly handle foreign policy?

i tell you if there is one part. >> he was going to be america's centric and not wade into except forced to. >> you are not saying this, but it would be absurd to think our president could not wade into foreign policy. >> i agree, but he ran on that platform. >> this yes or no is with russia, when do we get the pks the dossiers? we are not that cozy army. >> as trump continues to unrav em, our next guest says trump 2.o is over. the chief market strategist who made this call. nick, welcome to the call. trump trade 1.o is what? >> it is dead as a door nail. >> that's the rally on banks? >> the rally on banks t. refreshment is free t. deregulation is free. the trade's first higher growth. it's everything we saw from election night through the end of the first quarter. it came with a lot of money flow

noose equities. it came with seriously declining correlations. it came with a widespread of performance. what we seen in the end of the second quarter, money flows are coming out of equities into bonds, a billion dollars in the last five days, and you are seeing correlations tighten up, which is why that vix is rallying. volatility offsets itself, when they gin to rise, as you are seeing right now, vix rises with it. >> what is trump.2.o. >> it's the pick up the wreckage of 1 in.o. a keep group, less than 14 times earnings this year the best komps of earnings of any sector in the q1 right now. will you get a nice catalyst starting next week. health care is the other one. still long, ignored and has a pretty good year going, they had a lousy year last year. that's the other area i like a lot. >> is trump trade 3.o a reset? you are buying the same group as

trump 1.o. those groups sold off, gave up their gains. what's the catalyst this time? do you think that people haven't seen the deregulation, they haven't seen these things? they would have brought those segments higher and kept them higher? >> yeah. trump 2.o is basically for getting trump 1.o, going back to basics. what the cheap group with solid catalysts. >> fundamentals, not politics? >> politics right now are not great sense of catalysts. they're a negative catalysts. not positive. >> this wasn't working before the election t. market was moving fine before the election. >> great. >> exception for no one was convinced there was nothing underlying, the eps of corporate. we're really lagging. why is it different where nothing less than 1.o? >> look at the last few years, stable earnings s&p earnings what moved the market is lower rates, not better earning itself. we are getting better earning, 9% comps in the first quarter for the market overall.

we are getting that earnings score. >> that itself catalyst. >> is there a chance if he being the president gets nothing done, he'll take the low hanging fruit and go after pharmaceutical to garner his words not mine a win? >> yes, it's definitely a possibility. it's a risk. i think these valuations you are getting compensated. it's better in financials, it's okay in health care. >> why isn't technology a part of trump trade 2.o? >> it's worked so well the valuations are north of 18 times earnings. that's why that good news is baked in. name by name could be great. as a whole group, it feels wholly valued. >> nick, thank you for stopping by. >> thank you. what do you think of 2.o? >> well, i'm long technology, long banks as well. so i do think that that job trend might be easier than the other stuff to get down. so i'm hanging on to those optimistic. even if technology is 18 times,

the growth rate is higher by the market for a lot. i'm happy. >> they can't get some of that other stuff done. i'm not sure they go after dodd-frank. that's the populist campaign, that's back to that pharma companies, that's an easy one. it can speak to the people, talking about lower drug price, it's fought pro business or business friendly, but it is speaking to the people. to me xlv, i probably sound like a broken record, it's been pinned at 74 for two weeks now. i think you see 70 in the next few weeks. this is one despite the valuations they will come back to. >> i think you are right. the things i would go back to are global markets and nick was talking about, what's refreshing of nick's view, it's almost devoid, basically saying, let's get back to where we were. look at the confidence numbers out of germany, basically, zew index near the highs. the stories out of there. i added germany, some spain.

i'm doing that to names like telephonetica, big players cheap in this economy. >> watch you on tv, you are on all day long. what was interesting to me the fact that on a benign tape at the end of the day, russ emwas up almost .8 of the day. that's the good news, bad news and financials, gold man sax has not been able to get out of its way for the last month, manth-and-a-half. >> not too long ago. >> i think it was. >> goldman was against me on goldman, too. c'mon. >> you want to go down that route? >> he's like a seaburden right now. >> i'm calling a seymour. >> sea bird pulse -- i was on the debate team. >> that's what i did. i was both lincoln and douglas. >> can we talk about stocks here? we did three big once on a

wednesday morning. my producer ted told me earlier in the block. here's the thing, when you think of the risk-reward the stocks have pulled back. what do they have to say to get bell e them to pull back for the highs. they talk about risk trading revenues and adding deal flow, backwards looking, okay from they talk about the pipeline. >> maybe think about the money centers. with that interest margins. where they are. >> are they explaining away the slow growth. >> >> you have a two up, one down stock scenario. >> if you don't agree. >> anyway. coming up, it's all twitter talking about united airlines losing a quarter billion dollars in market cap and now the ceo is saying "i'm sorry." we'll tell you why that might be a little too little too late for the stocks a. one-month high the commodity thing, dennis gartman has oil plays to get in the game. is apple ditching its top chip suppliers? what has them running scared?

cooling offer? much more "fast money" right after this. look closely. hidden in every swing, every chip, and every putt, is data that can make the difference between winning and losing. the microsoft cloud helps the pga tour turn countless points of data into insights that transform their business and will enhance the game for players and fans. the microsoft cloud turns

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welcome back to "fast money". check out shares of apple

supplier, dialogue semi conductors may sink after 16 years after it may lose its single biggest customers. fears have been brewing that apple may revert manufacturing its own ship technology, prior to this a group of stocks were on quite a run-up. shares of apple meantime down more than 1% today. >> that dialogue semi apparently got 70% of its revenue from apple in 2016. so this is not just a big slip. this is the biggest source. >> it's haven't volatile with a lot of the stocks with apple in general. what is interesting about apple. we no they have much less market share than samsung. >> that i have instantly more profitability when you vertically integrate your company. you get away from squeezing your supply chain and that sort of thing. they must think they got it figured out they are going to be infinitely more profit annual or more so than they are with their supply chain that way. so to me, it's kind of interesting. i think the biggest news at apple is when that phone comes

out, i know there were rumors, when it was pushed out. if it gets pushed out in november, you may see numbers come down for this year. i mean it's that simple. >> does it matter, though? >> the stock is 143. it was at 90 a year ago. >> i don't know how much. china will say it's a huge faculty. they had a note saying loyalty among apple users sunk to a new low. >> really? >> tier one and two cities, they called them in china. i don't know what it means. but if it is true, you have to then start to question how much of a driver china can be going forward. >> i think what we are seeing in china in terms of the competitive landscape is people are going to the cheap legacy carriers. there is very little they can do about it. they carved it out impressively. i think no matter what, we continue to under estimate apple's ability to refresh and work off it, it continues to grow. if this is an apple trade, you

don't need to chase this i don't think you want to see them totally, i think clearly they can push people around they shea should. >> we almost wrote apple off ahead of the iphone . here we are ahead of the iphone 8. what do you think? >> i don't know anymore. it still didn't, i don't know, 110 maybe. i think that there is going to be some sort of this for a while. you talk about this, it's delayed. who cares? still, i think we'll be at will. still ahead, another battle brewing on the face of the financials. you saw a little grims earlier in the show. they will battle it out later on this hour. i'm melissa lee. in the meantime, here's what else is coming up on "fast." >> united ceo has a simple message for its customers ♪ i'm sorry ♪ so sorry >> we'll tell you why it doesn't

matter for the stock as the controversy heats up. did you miss the move in oil? relax, modern day king dennis gutman has three under the radar names he says you can still buy. he'll tell us what they are when "fast money" returns.

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>> welcome back to "fast money" the senate commerce company asking for more about the passenger. elon. >> reporter: mellissa, you are right the senate commerce committee is sending that letter to united airlines ceo oscar muness, they are asking why that passenger was forcibly removed.

in this letter the lawmakers call for the airlines explanation so far unsatisfactory. they said the explanation appears to underestimate the public's anger about this incident. some of the questions they're asking include when did the airlines realize they need to bump someone from the flight and how that person was disturbing, they want to know how often are security officers called upon to remove someone, signing the letters the committee's chair and the subcommittee. we will bring you more as we have it, guys. >> thank you very much. the latest in a tough day for the airline, shares of united fem as much as 4% before bouncing back as millions in china take to social media to scorch the campaign for its brutal removal of that passenger you just saw t. ceo after initially defending the action, finally said the two words everyone wanted to hear from the start "i'm sorry." it might be a little too little too late. phil lebeau joins us here at the nasdaq in the flesh.

with the story. >> a lot of developments. let's run down most recent. which is when we're talking about the passenger involved here, his name is dr. david dao, a doctor in the louisville area. he is somebody everybody is hoping to talk to. but we have not we heard from him. we did hear from a representative of dr. dao, a representative. late this afternoon. they say he is still in the hospital. it will be interesting to see at what point we hear from dr. dao. he has a media representative and a couple of lawyers. so we will see what happens next. but everybody is talking about it, including sean spicer at the white house. here's what he had to say. >> for the president to weigh in pro or con with prejudice will

have potential outcomes, i think clearly watching another human being dragged down the aisle, watching blood come from their face after hitting an armrest and whatever, i don't think there is a circumstance that you can sit back and say this probably could have been handled a little bit better. >> as you mentioned, oscar munoz did a lot of things he should have done from the beginning. he issued a profuse apology. like you, i continue to be disturbed about what happened on this flight and i deeply apologize to the customer forcibly removed and to all customers aboard. no one should ever be mistreated this way. i want you to know that we take full responsibility and we will work to make it right. he also planned to have some type of review done on all of their procedures and report back on changes by april 30th. let's talk about why this is important in china. china has long been perhaps one of the most important markets for united airlines.

they have been flying there since 1986. how important? they lead all of the non-chinese carriers in terms of flights into that country, $4.2 billion in passenger revenue to the pacific in 2016, about 2 billion is the estimate to china, 92 weekly flights to china, more than delta, more than american. united's bumping story number one on social media network over there, a lot of people over there had put up things saying, boycott united. >> that type of stuff, cutting up their mileage plus cards the kind of things you see on social media here in the united states as well. >> i think it takes a little more gravitas from carolina, a lot of the state needs the communications the newspapers, cc-tv have been featuring this heavily and question the motive why they singled auto this passenger, was it, in fact, because he was chinese? you also have the founder

calling for boycott of united and jd, right, tim? it's a huge e-commerce platform. >> this ties in with what their presence is, clearly the impact is still pointed out, it's massive from a cultural, also the commercial perspective of international sales for united. having said all that, my view is ultimately you will get to a place this will be above or below a percent. it doesn't surprise me you can jump on united here. what i will say is i will be buying weakness in airlines. >> so i'd love to say i'm going to boycott united. i'd rather put on a wing suit to fly to my destination. >> i seen you do that. >> it doesn't work that well. >> it never works that way t. four airlines control 80% of all what? right. >> that being said, if mr. munoz is watching. i'm sure he's watching something. you lost then, you blew it t. instinct was to tense up and

protect your people. anything you say in the after math to me it falls on deaf ears. so again, can you tell me right now united will go to $150 a share and i wouldn't buy the stock. >> i disagree with you. it's a massive run over the last six months. what i'm saying it's not far off two-week highs. >> it actually is. i read it on this network all the time, it's sentiment is 4.8, and 7.8 three months ago. >> nobody said there was going to be math, tim. i will tell you this, the only thing that's interesting, just looking for a price actions standpoint. they got hit with the storms. they came off that high month consolidation off 52-week highs. to me, united was coming back. that being said, when you agree with how the police execute it or not. here's a company that has a policy shareholders not for consumers, right? it's that simple.

jetblue does not have this policy. >> in their charge agreement? >> i read it on the internet, so it must be true. jetblue is one of the few that do that. in that context, i would be surprised by april 30th when munoz said they will have a report, they will do away with a policy. >> look, if this is set up by the federal government to allow the airlines to have full capacity to sell all of the seats on their planes, when you look at the numbers, i know people will hear this, they'll say, you are siding with the airlines, 3700 people were forcibly not for theably, they were denied boardings, in other words, they didn't say i'll take $1,000 to get off this flight. 3700 out of 86 million passengers. think about. that that is an extremely low number. now for those 3700, i'm sure they're not happy. we have all been on flights, people have been cussing, why me? i understand that. nobody is disputing that. but i think that that policy, i would be surprised if it has

changed. because it would impact all of the airlines, then will you run into the airlines saying, okay, well, if that's how it's going to be, maybe we need to change it in terms of you buy a ticket at 5:00 tuesday night, that's your seat. don't plan on going at 10:00, don't plan on going at noon. >> this is a trip. check in really early. >> he was checked in. >> he didn't check in 24 hours at a time. are you the first one to check in, get some status on those people. some gold status. >> i think it's 24 hours later, he has started to reverse course. i think the public will be somewhat forgiving. you know, his initial reaction i think was -- >> remember when the video came out of them throwing the guy tar the luggage on the tarmac? it was about five years ago. and the guy had thrown it down, it was you a nighted baggage handler, it was all over social media. everyone going oh my god, is this how they treat their

customers? it was terrible for a week or two. >> what if they asked for that particular bag an handler, this is a policy of the airlines. >> it's a policy of the government. >> so it's worse. >> are you talking about the policy dragging people off or the policy asking him to leave? >> that forcibly -- >> that codifys -- >> this is not an airline -- >> i think are you right. >> it was about how they then communicate. it was very unfortunate. there could have been more restraint shown at that time. the bottom line, that itself the law. >> here's the question, most of you, some of you weren't here said this is going to blow over. it shows that airlines are applying the full capacity. so, therefore, it's not of import to the stocks. >> i have a little different story. a 1% different story? >> a 1% price. >> my point is that it arced. it got way worse and better once he said "i'm sorry."

does your view change? does your view change? >> no, i'm long with stocks, but i think that this will blow over. i think they're headed in the right path of saying what they need to say. they're going to give this guy a big settlement. which they're probably insured for, by the way. >> they will make a lot of dough. these types of incidents have been incidents to buy airlines out. it includes other case, whether a travel ban or a disease, you name it, you buy them on fundamental also, that's where they do their business. >> i think there is a bigger issue here, we live in a world knew where this stuff has been weaponized. you think of what's going on in china, that is an organized thing. i doubt its viral. maybe it's china southern or something like that. you are all watching homeland, sock puppet. >> love the "homeland." >> look at how this thing has taken over. is there any american who has an iphone or a tv or a computer that hasn't seen this video? that's amazing.

>> but again. >> go back. >> but weal we've all seen it. we all have a view. your point about social media is an important one. but it doesn't clang the outcome of what happened. >> true, tim. >> the advantage could be deeper than you think at this point. >> i'd say so. >> sure, mem. >> it's the bottom line. you can get a little longer. phil, thank you. phil lebeau. still ahead, crews hosting the longest winning streak since december. if you missed the move, relax. gartman has three unusual way foss get in on the rally. plus, financials down more than 5% in the last month, as citigroup and wells fargo get ready to kick off earnings this week? we will have a very special report when "fast money" returns.

y

you. welcome back to "fast money". we have a market watch on biosciences surging in the after hours sessions. >> neurocrine gets fda approval for certain psychiatric drugs. it's a disorder for thousands in the united states. it's up about 14% on this news. some investors had been worried there might be a delay at the fda. that i are getting that approval

on the date it was expected . the call is ongoing. they have to wait until may to learn the price. so that could be further stock moving information in a couple weeks from now. now up 14% on this news. >> meg, thank you. i can't speak to the addressable market. td is better than i can. this is not a company that will make money any time soon. so in my world if you get a move on this magnitude. you are long the stock, you smile. >> now to financials, citi, j.p. morgan and wells fargo, has fallen, what can we expect from we have our bank earnings preview with bob pisani. >> reporter: hi, melissa, the fate of the stockmarket may rest in the hands of commentary from a few dozen bank ceos. here's why. optimism on the economy is running high.

banks are supposed to be able to demonstrate that. financials are expected to see a 15% gain if earnings in the first quarter. that's a lot. but this concern. investors are trying to reconcile a more optimistic outlook on the economy with troubling trends in bond yields and loan growths. interest rates are up from a year ago. rates have been trending downward recently. how can investors reconcile rate hikes with rates trending lower? that's a big problem. second long growth has been anemic. it's up po.4% in the first quarter compared to the same period a year ago. there has been no growth in commercial and industrial loans, what happened? the optimism has not found its way into corporate behavior, that's why there is so much hingeing on what the bank ceos will be telling us in the coming weeks. for the moment, optimists are in charge. they are 10% off the multi-year high in march. still 20% above where they were

on the eve of the election t. good news is bank ceos have acknowledged weak loan trends in the first quarter. but they've reiterated the full year growth expectations. at least they have for the moment t. bottom line is a lot is riding on the commentary of a couple dozen bank ceos in the next few weeks. back to you, melissa. >> thank you, bob pisani from the nyse. guy what do you think? >> a long day tore bob pisani. j.p. morlgen is probably right. goldn maxon april 17th reported a ridiculous quarter on january 16th or 17th. stock has been basically wound tripped ever since. goldman has to hold 220 in my opinion. >> that i have to come up with a another blockbusters earnings release. >> i'm a bit more skeptical. i started to say earlier in the show, i don't think they will be able to guide in a way that kind of supports where they are. not supporting valuations, valuations are fine. i they lot of things have to go from here, including

deregulation and tax reform. they need to you snap something with that yield curve. >> they don't need to do it right overnight. look at that time chart, that tells you you pulled back massively. banks have done nothing this year. >> whoa, the chart w. le talk about the chart the fundamental also? the chart? >> yeah, you know what guys, but, but, why don't you both go chart yourself? >> what? >> you go chart yourself. >> yep. >> you both go chart yourself. >> let's go look at it. >> time for a new segment. two traders go head-to-head over one stock purchase. they make their way over to the plasma. each stock is 45 seconds to explain why they are right on the financials. we'll get the chance to ask questions. you at home will vote on the winner on twitter. you go first. five seconds on the clock. >> thank you. look at this chart on the xls. this is a trend that started in banks all the way back last year. if i draw this trend line, bake amy, you pull back down here to $22 bucks, that's exactly where

i think the financials can rest. that's 5, low, that's ultimately a case with we all know what happened here this is the elections, we know banks traded up, we have taken that off the top. valuations and banks to me, very attractive. balance sheets have never been this good. the fed governor tells you what's going on in sector. it tells you there is a new sheriff in town. that was real change, regulation is a thing of the past as we knew it. >> that with valuations and an s&p where people are scared. people want to buy banks. this is the time. >> they want to buy them and they do buy them. you think about off the lows from the election. the xlf, in particular, was up 26% at its highs in early march. to me, obviously, that reflected a good bit of enthusiasm. right now we have a six, the xlf is up about 18% versus the s&p up 10%. it's still 5% from the recent highs. to america's this is an interesting thing. you droo you this line right here. okay. that's that trend line.

this is actually where i'm going, dude. i honestly think that you will have a check back as my boy talks about to that uptrend. then you may have an opportunity to buy it. when i think about this consolidation that we had, then when i see this move up here, it's almost felt like a proceed off the top. i think -- it's my time. >> thank you. >> i feel like you're going to get this move back to 22 and then have a -- you have some good stuff happen. >> 22 is 5% low. people have been dieing to get to the banks. >> buzzer, buzzer, buzzer. hey, that means back off. you. all right. any questions on the desk to discuss? >> can i ask a question? >> i have a question, gentleman. did the fundament also matter when you are just looking at the charts? >> well, i think you have to look at them wholistically. i use them as an input. to me i'm looking for the opportunity if there were some

fundamental am reasons down the road, deregulation, tax reform that sort of thing, i want to buy it back at that. >> technic also are a guide post, hopefully you have a place you want to get in there. we are probably talking the same area. why be so cute that people want to have a pullback. >> it's a bounce in earnings. >> we are talking about the charts. >> people are going to speak over each other. who won the battle over the big banks? we will let you be the judge. head to twitter and vote in our poll. the winner will be revealed later on in the show. gold retained its losses, the precious metal will continue to surge. we'll tell you how high they see it going. you are watching "fast money" on cnbc, the first in business world wide. this is the new new york. we are building new airports all across the state. new roads and bridges. new mass transit. new business friendly environment.

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welcome back to fast money. crude hit a one-month high following a report that they want to expect cuts for opec another six months. let's get to the commodities king, dennis gartman in virginia beach. you got some plays for us, right? >> well, i got three, one of them the announcement was i had under cover one, actually, there's two that might not be well known.

let me have a chance to buy exxonmobile down about $91 to the middle '80. at these prices, i think i'd be a buyer. i like the dividend t. under cover ones are trans-canada pipeline, with i is not crude on oil. it's natural gas, it's related. give me a chance, it, too, is very sizable pleasant yield 6.8% dividend, reasonably well covered. i want to own it. then at the same time, the most important input into fracking everywhere around the world is sand. sand is incumbent in the trafficking pos says. the sand that suppliers in the united states, there are several of them t. one i like is high crushed partners. it used to have a wonderful dividend. they had to cut it several years ago or a year-and-a-half ago when crude oil prices collapsed and fracking seemed to collapse upon itself, now the fracking capabilities and production are increasing. the demand for sand is up.

let the high cost partners fall back 5 or 10%, it's had a sharp rally from its lows. give me a chance to buy 5 or 7% lower. i think it will be a long time before they return to their dividend policies of the past. >> that one is under the radar. trans-canada pipeline, let's call it right at the radar, obviously, exxonmobile is well above the radar, of the three, the only i'd buy right now when pressed is exxonmobile. >> dennis, got i. thank you very much, good to see you. the gartman letter. guy, you said in the past you don't like exxon oil. >> no, with that is gone now in the vacuum of television. exxon was a $94 stock traded down to 82 on what's been a decent safe until recently, it's been a market sideways to slightly higher. you have to ask yourself, what's the problem? valuation is probably reasonable.

the stocks can't get out of its way for its own reason, if you were to see it turned down to a florida mark, it makes you want to see other. >> gold is coming down to another high. dan back over to the platform. >> sure. let's look at the gld, the tax, the price of gold. like mel said, it was trading at the highest level since november th. closing above its 200 die moving average for the first time all year. so to me put activity was half of that of call. so we see this price increase as the etf is up about 1.5%. you have that call activity. it was interesting. i saw a roll where the stock was trading 171. 7500 o. april 120 calls at $1.83, buying 7500 of the may 120 calls for $2.86. those break even. what's interesting about that

activity if you think back to last january 2016 where this thing went up like a rocket. you saw a lot of this activity, peep were buying calls in the out month. they were rolling out of prior calls. >> that kind of activity at this support level is pretty interesting to me. it looks like it's ready for a breakout. >> the "options action"s game will be off this friday. sorry, guys. we get back to you next friday for "options action." up next the winner tonight, go cart yourself and your final trade. stay tuned. [pony neighing] what? hey gary. oh. what's with the dog-sized horse? i'm crazy stressed trying to figure out this complex trade so i brought in my comfort pony, warren, to help me deal. isn't that right warren? well, you could get support from thinkorswim's in-app chat. it lets you chat and share your screen directly with a live person right from the app, so you don't need a comfort pony. oh, so what about my motivational meerkat?

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get ready. because we're helping leading companies lead with digital. welcome back to "fast money". the moment you are waiting for. america has spoken, it's time to find out who has the most compelling argument in our go chart yourself segment. dan the whenner is tim seymour. >> there you go. >> time for the final trade, winner take it off. >> my set of banks are lean and mean, i will see it back here, net profits are going higher, cidi bank. >> yesterday foley foods traded down today. it would have cost more at the end of the day. >> oh. >> the opec stocks and you want

some protection, xlf short dated put. >> please stop the music. >> still, fade to black. please. >> i'm mellissa lee, see you back here tomorrow, my mission is simple. to make you money. i'm here to level the playing field for all investors. there's all 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, but to educate and teach you. let's be honest about washington. it's gone from a fabulous tail nd