clearly, i have never met with or had conversations with russians or foreign officials concerning interference in a campaign or election he says i have no knowledge of anyone connected to the trump campaign he said i recuse myself into the campaigns for the president but did not recuse myself from defending my honor against suri lus and false -- scurrilous and false allegations t. former cia director james comey made last week all of this playing out over the last couple hours, while i mentioned the markets are closing at record highs. the dow jones closing up would have 31328 there record highs for the other averages as well here. about an hour-and-a-half of the markets being opened and that 92-point gain remained unchanged throughout the discussion of what was taking place there in washington let's bring in our kayla tau

tausche. >> reporter: he said he did not recall that third meeting that had previously been reported by the media at the mayflower hotel. he did not recall that and when asked by senator joe manchin he said he did not recall meetings with them earlier. he did say as you mentioned that he recused himself in the earlier days of the russian investigation because he identified himself as a principle adviser in the campaign and it was not appropriate for him to remain in that investigation on the firing of the fbi director and the rolethat he played, he said he gave the recommendation to the president that he was asked to give, so that he and the attorney general rod rosenstein shared concerns

about comey and whether he was the right person for the job before either of those attorneys were confirmed into their roles at the justice department. he did not say what he and the president discussed privately. he tried to invoke some form of executive privilege, where he said those conversations were private at which he was prodded perhaps to tell more in a closed session. he didn't comment on hypotheticals to whether he would be uncomfortable relding the firing of james -- recommending the firing of james comey. one thing he denied vehemently was the comments that james comey made under oath last week that there was information that james comey had that led him to believe that sessions would recuse himself and whether comey had no reason not to share information with the attorney general. here's how sessions responded. >> mr. comey said that there were matters with respect to the recusal that were problematic

and he couldn't talk about them. what are they? >> ah, that -- why don't you tell me? there are none, senator weiden there are none i can tell you that for absolute certainty. >> you tell -- >> this is a secret innuendo being leaked out there about me and i don't appreciate it. >> reporter: that is an angry jeff sessions responding to senator rod weiden lawmakers are starting to speak to reporters as they come out of the hearing t. chairman of the committee said he did not like doing these hearings in an open fashion. this one, kelly, the tenth open hearing the committee has had just this year >> all right that's a big number, thank you let's get some reaction from our panel now. joining us are former assistant watergrowth special prosecutor and general of the army. and former department of justice attorney and an economic policy analyst at the american

enterprise institute everybody, thank you for being here and being here throughout the duration of the testimony. miss weinbanks, what do you think? what does this do to quell the concerns that surrounds the attorney general in the administration >> [ inaudible -- comey's key testimony he said the president asked him to leave to be alone, he asked sessions and everyone else in the room to leave. sessions confirmed that. that's an important fact he also confirmed that comey came to him very concerned that he was being asked to be alone with the president and asking comey to never let that happen again. i think those are key points that can corroborate comey's testimony. >> okay. it would seem to reenforce the concerns about the whole russia issue or the firing of comey all right. let me turn to you, then, how would you characterize what we

we heard and the next steps we might see out here >> i think attorney general sessions did a good job himself in terms of establishing the record to me what was most remarkable what is something you had running across the screen. it was four key market indices actually hit their highest record, the record turn ever it shows the market really is not being impacted as far as where this goes, attorney general sessions indicated that he does have confidence in special prosecutor mueller and i think that carries a lot of weight and if i had to characterize in polite words, it would be extremelier, treatmently unwise for there to be adverse action about special prosecutor mueller the last point i want to add is there really are memoranda to which attorney general sessions referenced in existence. in fact, in the carter administration that attorney general griffin-bell established

protocols for speaking with the white house. the governance is one written in may of between by derek holder so i think right now the investigation goes forward. >> and donald trump, jr., seemed to share your thoughts on these record highs he shared a tweet moments ago. the president. landed in wisconsin he issued a tweet saying he was focused on jobs, jobs, jobs can he, though what do you think the tone will be as we emerge from the hearings >> listen, democrats will focus on jeff sessions not revealing those conversations or act as if he's stonewalling as senator harris suggested, that he was, you know, sort of cooking up the dog -- doj regulations, you have republicans saying this thing is a complete farce that's what tom cotton did with his elaborate jason bourne/james bond references. but democrats behind this thing,

they have more traction among the american people. i'm not sure that this hearing gave them much progress. i'm sure democrats will be super upset. this is going to consume time. it's going to consume band width among the white house and it is a distraction to the agenda. as one of the other guests said the dow gave its verdict and that's the shipment is sailing forward. >> scott wapner is over at the nasdaq we closed at record highs. we didn't see a lot of movement while these hearings were under way. to parce it finely, it's hard to say what exactly the take away here as far as the markets concerned in this particular hearing anyway. >> reporter: it started about 2:42 the level that the dow was up at that moment. it was up 87 points. so it added a little bit the anne anne added a point as well, kelly. pete this underscores the fact that one of the guests was just

making that the market is sort of tone deaf in d.c. >> more and more -- well the more it's out in front of them the less interest there seems to be, scott. >> there was that one day where the idea of the comey memos was fresh put out there. the dow goes down 400 points. >> right. >> other than that, it's ignored everything. >> then we have thissal algoric thing. you have a huge spike in the nasdaq and then suddenly we're back to business as usual again. it's 1350. the volatility index was mounted in 9s, now it's in the low 10. will you look at the markets, the risk part of the market has come back out. people are back from and buying and looking for different opportunities and now the catalysts keep on going. it was comey, earnings, everything else, now sessions. now it's the feds. >> you know what's so interesting, steve, is that if

leadership groups from the election, a week out of the election that started this whole trump rally in the first place are the exact same ones that have been leading the way in the week after comey as this trump rally if you want to calm it that gets a reboot. >> right. >> so to speak financials, energy materials, industrials, ie, value >> so if you look at financials, we had dodd-frank -- part 2 of the trump phase, maybe you see some money get put back to work infrastructure how is that going to play out? you have a proposed $2 trillion infrastructure the biggest thing, rotation. have you the things that have led, all the ones you mentioned. the things that led the tech rally and how do people make up their year people have been beaten up with performance.

the only way to get is, not to buy fang now it's to buy energy and to rotate. >> and iwm you are right. >> isn't that a much better bet that you need to make. to go after the intex, to go out to energy stocks at a time when university seemed almost resigned to the fact that oil from u.s. production is going to stay below $10 bucks >> i have been a bear in crude you can start to see the xle ramally off here when you look at the iwm, it's up the s&p is up 3% if you are going to make you're year, survive this year as a fund, you won't chase fang to survive. >> the way i look at this, yes, we can over simplify, people are going back into true over growth a lot of the stills have a decent growth profile. when you think of what is not happening right now. interest rates have not gone to the moon. >> we haven't gotten off the

grounds. >> i know, where did they go on a relative basis i would make arguments they went to the moon. by the end of november, early december, we were at 265 on the tenure, 135 on the yield curve what people are forgetting about the course of people saying the fed could push us into recession. think about the growth and cyclical sectors, i throw that out there, i don't think enough people are looking at that. >> a couple things, the things you continue to look at, steve mentioned iwm all time high today. we talked about russell 130 forever t. transports, the all time high we made a couple months ago we talked about xlf whether you are a believer or not, it almost doesn't matter, it held and bounced since. so all three give you an opportunity to trade against it for the long side t. s&p is intact based on that >> are we ready to say now the trump rally has been rebooted

that we were waiting for something to push stocks up another leg? remember, they were making very incremental moves for a few weeks. now we're jumping 100, 90. >> if you think the market, what i think is the market actually hasn't priced in any fiscal reform hasn't priced in tax policy. therefore, i think we put the market in an interesting place to only rally on the fact there is a new sheriff in town t. pendulum swung way too far in that direction now it has nothing to stand in its way. >> how about the fact that the fundamentals and the facts they put in front of us had nothing to do with the sheriff, it had everything to do with the companies, themselves and hong they are running. >> why did they say wait until not rally. >> it's an interesting thing, we had the big move then everybody was concerned obviously about the election every time you get in front of one of these things, you talk about a trump rally, where i was pushed back is how about the numbers they put up in the

fourth quarter and the second quarter, are they meaningless to you? >> no. >> those were what the companies do it's the facts and fundamentals of what j.p. morgan does and what cisco or apple, rather, would do in those earnings. >> sure. and they were compared to what they did last year the same quarter, which they looked great, but to the points of financials rallying, goldman sachss what up 38% of the election 30% move on the dow. >> that doesn't happen without somebody saying we will repeal dodd-frank. >> as we saw, that's the period so far >> the move, the economy doesn't do what it's supposed to do, all of that optimism only gets you so far. >> no, banks are within 2% of the all time high on xlf i think people get that wrong. i think the feds raising rates, you don't need to yield curves that's not what's going on >> well, our next guest is one

of wall street's most accurate forecasters. he says forget russia. forget sessions, what matters most right now is tax reform j.p. morgan's derivative and quantitative strategies. welcome back why don't you all pine on whether you think this trump rally gets a reboot here it feels like it >> they said, i like value i like the financial energies, i would wait a little bit more trump rally sort of started right after the election, so it started bringing back already in january, gave back pretty much everything you know, few look at it sort of april/may, we had sort of growth rally lower rally and value within the correction. and obviously yields played big role, declining yields, a curve. some questions about sort of how much the reforms will get. so the move was very big you prove may, it's towards the ends of that move, if you look

at the end of may and early june, basically, accelerated and snapped back when it snapped back, we saw fang's selling off pretty hard and we saw sort of the other side rally so i think what happened now is a bit more of a snap back of that big move sort of in april and may that happened rather than quote the kind of a start of the new trend i think for trade trump trade to sort of like a restart, itself, i think you will need to see a bit more animal spirits, ideally, it's a sort of indication of tax reform. >> right animal spirits, mna as our own and drew sorkin pointed out, it's sort of kind of dead. tax reform, yes, to get an expanding multiple on the mark, that's sort of the point you are making, few get tax reform, that's how you can get to that point, a point that league cooperman has made recently. >> correct bake amy the market will price in 2018 earnings, which will be

higher by 8 to $10. >> there was a the $10 number to use? >> correct so that will get you from 24.50. you don't need to expands the ballpark, you price in the 2018 earnings. >> what if the xi does what it's supposed to do in lew of policy pushed off further than people expect >> i don't know. i think we need to see some slow down and forward indicators. they're definitely different opinions, if the economy is going to pick up without actually going from infrastructure or be tax owe form i think tax reform is a lot more certain. >> you have a general piece that i think the market is elevating and correlations are breaking down based on flows. passive outflows vis-a-vis j.p. morgan does that mean it doesn't matter anymore? >> you look at how much assets are passive strategies, it's no different than about we think 60%. so ten years back, that was only

30% so now sort of few look at these quant flows, market stuff, central banks related is much more important i think a part of the move we saw in may and this fang little mini crash and bounced, a lot has to do with a kwaunt bounce. >> lastly, volatility. are we going to get a whiff of it any time soon in a major way? are we going to be talking about the vix under ten for the most part from here to eternity >> so i think it's a very interesting question i think we will get high if you look at the vix subsequent years closed below ten, 11 times, last 30 days so one would think by looking at vix, the most benign markets the lasted two zek canadian, i don't agree. i think we will see probably after the options. >> thank you for being here. it's great to get your insight you want to weigh in on that >> the only thing i'd say, first of all, i think the market will

be here whether president trump or president clinton the trajectory of the market is different. i'll say the one thing, it scares me when the president continues or him his son tweet about all-time record in stock market, using it as a benchmark or a report card for the administration it's great while the market goes umm. god more bid we do go down, my question is, who is he going to blame? that's a concern >> i hear you on that. we have raised the issue few want to own it on the upside, you got to even it on the down side it's a dangerous game to play. >> i agree with you guy, the market is there in spite of those. frankly, it tells you how important it was for the market to see change though the market needed to see change from that last administration. it was not market friendly, it was not having small businesses feel comfortable about hiring, i don't think you can give discredit to the white house.

>> moving past that, you have an s&p rebalance, a quad which coming up pete knows a heck of a lot about. that i wonder if these outperformers if this trend of rotation continues because you have all these things going on. >> all in a microcosm in a vacuum it will affect the next couple of weeks, not the next couple days. >> sort of to your point that cramer was making the other day is fun managers are only going to be able look at the sell-offs for high-tech names for so long before they jump right back in where else will you find that level of growth in the market? today's comeback was a sign of exactly what he was talking about with a little participation from elsewhere small caps >> i think we say it's a fang rally, even those those percentages, we know how much they can influence about the names going to all time highs let's point that out, somebody suggested to us at halftime, it should be fang mail.

you add microsoft and apple. nvidia it's a far broader when we look at this market. yet you look across, you find all kind of stuff. still ahead, when all eyes were on attorney general jeff sessions today, something is happening in washington that could be a major boost to the banks. we'll explain. i'm scott wapner, you are watching cnbc. >> apple is getting into self driving. >> you're in -- >> reporter: apple guru will tell us what exactly it means for the stock. plus, pete's bringing the heat up2%ing a stock already 3 he says it's about to go a lot higher the name when "fast money" returns. powered infrastructure optimized for advanced data analytics. [ horns honking ] now we have the answers we need to make informed decisions. moving more product then ever before. i forgot my keys. expedited insights by intel.

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and make cars appear out of thin air. find love anywhere. he's cute. and buy things from, well, everywhere. how? because our phones have evolved. so isn't it time our networks did too? introducing america's largest, most reliable 4g lte combined with the most wifi hotspots. it's a new kind of network. xfinity mobile. >> welcome back to "fast money". it looks like a major rollback in washington. kayla is joining us back in d.c. with the latest. >> reporter: hey, scott, treasury is putting out a 149-page report with recommendations to changes to the frame of regulations put in place after the financial kriefrls while it does require some heavy lifting from government agencies and lawmakers here on the hill, it does suggest some meaningful

changes, specifically for community banks and small banks. treasury recommends raising the threshold for certain regulations and small bank holding company filings to apply for the volcker rule secretary mnuchin testifying this morning on capitol hill said the aim of the report and treasury proposals overall is to spark growth in this group >> we want to make sure that the regulations are tailored, that small community banks don't have undue burs of regulation that they can afford to lend to small and medium size businesses. >> reporter: but the report suggests loonsing of rules for larger banks, too. treasury supports stress tests to return capital. it wants it to occur less frequently t. way banks calculate the cushion they have been building for the last decade, treasury wants that loosened as well that was something that

surprised industry observers as were two other items one treasury wants to expand and interagency regulator called fsoc and second after all that house financial reform bill that already passed last week, treasury didn't necessarily align its report with some of the provisions in that bill. a lot was on the cutting room floor. we will see if subsequent reports, there are at least three of those, to come from treasury will align more closely with the law already written. >> thank you so much, kayla, in the capital. all ahead of tomorrow's fed rate decision if you are betting on the banks, which matters more for your. regulatory reform or rate hikes? >> i think you were talking about the community banks, today is small business confidence number is coming out they are as confident as they have been in a long time citibanks, banc of america, it doesn't have to be necessarily

in the doctrine. citibank, think about it, the trump trade is back on they're 6% over the highs every other bank hit back in january so that's the name i think it's the most egregious offenders and the most dysfunctional balance sheets, those are the ones that do the best in this environment stay with those two names. >> speaking of bank stress tests. you start to look at the capital allocation, maybe they can pay a little more in dibs. maybe they will be on who we can whisper buy backs, who can talk about. that it's so nice of to you do that. >> i got the chills. a good one i think that xlf i think you buy them maybe to a month end i think people are going to try to recoup some type of performance. you are not going get it anywhere else. this one is under performing in the overall market you are hard pressed to find others on the overall market. >> is tomorrow going to result

in a binary outcome? we expect the feds to hike. >> no is the short answer. to tim's pointsh steve's point, i think you are looking for banks, citi is at 85% price, you goif eight goldman sachs multiple. >> these stocks have been trading below tangible book. >> not all of them j.p. morgan for example is close egg to 1.8 times the price of casual book. which is sort of interesting, i think that's where some of these top out. so does citi deserve that? do the math. you are talking about a 74, 75 >> i think all the names are key 2345i78s i think citibank and because of the fact tangible book you look at these things, if that's where you price it. >> it's a global bank, though. >> it doesn't mean gold man sax can't porl and go up to 250. i look at the xlf and the

options forms of late, they are telling you financials are going higher, regardless, financials are going higher last week 100,000 xlfs, just the other day, you and i were talking about citi every single day we see financials hitting that's not just something out there. that's for real. i think these banks are going higher coming up, apple ceo confirming the company's dive into you a town mus driving calling it quote the mother of all ai projects. so what does it mean for the stock? plus, pete's doubling down on oneship chip stock down over 100% over the year, what is the name you are tcngwahi "fast money" on cnbc first in business world wide hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades

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what i thought the stock was at 200. >> below 200. >> he asked many ewhat i thought the stock would do this year i thought with the introduction of model 3 wore 3 dri350 or 400 i think it will be a through in 2020 >> big words from ron baron. >> if you were playing this an auto delivery this car is this story this is why this is so inconsistent to me. >> i get why people are so excited about tesla. it's a trillion dollar new age, it's disruption. it's autonomous. it's transports going out to the whole sector with a trillion dollars as stake and questions it's not about the models. >> i think that's why it has rallied. you named five or six different things. >> i agree, it's an automobile company. i think people wait on automobiles on a refresh cycle it's like buying your laptop,

it's like buying your phone. >> yes, yes, eighth great name. >> how great is that >> it's like buying your phone, think about it tesla, are you sitting in your car. >> out of those. >> you can't buy ford. you can't buy a gm no one knows how to evaluate this company the short interest 25% you still get a park they do anything right this thing lifts off who knows? i thought they couldn't mass produce this many different cars at one time. i thought that was going to be -- >> you see, they've missed their targets all the way down the road. >> a part of the fund. >> all right, a narrow stock that can soon compete with tesla, apple's ceo tim cook officially confirming his self driving technology josh is in san francisco with that story. >> reporter: scott, investor versus long speculated about tim cook's ambitions within it comes to autonomous driving technology now apple's ceo is speaking out publicly for the first time about his company's intrs.

we're focusing on autonomous symptoms, cook said. certainly, one purpose is self driving cars there are others we see it as the mother of all ai projects. cook continued we're not really saying from a poukt point of view what we will do, but we are being straight forward, it's a core technology that review as very important. patrick moorehead of more insights and strategy doesn't think cook wants to build and sell a whole autonomous vehicle. instead, he thinks cook, at least initially is more focused on software and systems that can power such a car and license that to auto makers. there it would be competing against other tech companies, such as alphabet's waymo it's already completed more than 3 million miles of fully autonomous driving apple's interest is well known and documented recently, the california dmv gave apple a test permit for autonomous driving technology in three lexus vehicles, like the ones you see right there

cook talked about redefining ride sharing apps where apple made a $1 billion bit, and mentioned electric vehicles and noting driving is in his words a marvelous experience scott, back to you. >> josh, thank you, for more on apple's self driving technology, what it means for the stock, gene munster, welcome. >> hello >> what's your reaction to what people had to say today? >> just masterful in terms of the message. he's already thinking about the iphone 7 coming out and the hyper on that. he's starting to slowly change the conversation around the apple story. so credit him for doing that then there is the piece of what will happen and what they will do i think consensus as josh mentioned is what happened is driving towards us to be

essentially an operating system for a lot of car manufacturers i don't necessarily believe that's the case. i think all options are on the table for apple. i think the option of competing directly with tesla is a daunting task that is they will have a difficult time doing that i think tim cook's side, they're trying to physical this out and could go either way. >> does this make sense to you is this the right kind of move, if you are an apple shareholder? what are you saying tonight? >> you're happy because of market there is 80 million vehicles sold globally every year if they can get to 101st of that, this can have 40, 50, a greater percent for the overall apple story t. problem is within you have a $250 billion revenue company, it's hard to grow in this case, it's a big enough market that will get turned up side down the next decade. i think it makes a ton of sense for apple to be a player in that sflchlt the implication that you are saying is to distract from the message from the release,

does that mean you don't expect a lot? >> it's more of starting to lay the groundwork because when the next iphone comes out in the fall, he is going to want to talk about or investors will quickly say what's next? and so i think it's, my comment was more of the transferring of the message after that new product comes out. i think the product will do fine i think it will get back to an average of 10% growth and the previous cycle we're on right now will be about flat so all that's good they need something really big for investors to dream about this is exactly what they need. >> gene, thank you for coming to the phone. appreciate it. >> thank you. >> interesting story pete, you want to tell us what you make today >> sure. i think we all know apple is working on other things, like google, they're looking at areas to find one more revenue stream. you look at retention levels, absolutely incredible in the u.s., unbelievable

there is going to be growth. i think the super cycle is coming when you look at china, india, we had an investment yesterday. there are different levers, you look at the services and where they are getting large early, all these reasons, it's why i have been in this stock over a decade there is always something happening at apple tim cook is right. >> there is such a debate happening around this stock, too, about the relationship between services and product around innovation and what's going to be that driver to get them over that next bump >> yeah, pete will tell you, you need services i believe to the lower 20% of overall revenues for the company. can it get there probably can get there they grow to a valuation they deserve not being a hardware company. how do you trade the stock we talked about 134 a couple years ago it might trade down to you look at today's action, it traded about 150 million shares. now you say to yourself, was

that your opportunity? 23 discussed last night about a few other names, today's price action gives you something to trade on the down side. >> i said last week historically, the developer's conference has been a source of weakness and a buying opportunity. >> that in conjunction with the value growth really sparked it you have a test of a 100-day moving average i actually bought some today i think people waiting to get into apple, it's still a phone company. >> really quick. i think that people were not putting anything but services the stock is at 1 life in $150 -- $145 to $150. that is your bonus for the company. people said they weren't making it alone >> okay. still ahead, our melissa lee with alex rodriguez moments ago, in miami, they played a little would you rather with alphabet, amazon, tesla and more plus, pete is bringing the heat.

getting ready to pitch the one chip stock that he says could be a home run for investors already up more than 30% this year he's going to deliver s st pih ght after the break.

>> on "fast money" we like to play a game called would you rather are you willing to play ball >> sure, who am i playing. >> >> google or amazon. >> i like googal little bit more, i think it has a monopoly with the search engine. >> how about netflix or disney. >> i'm a disney employee now i would say disney and abc. >> tesla or general motors. >> oh this one is interesting. i think long term i really like tesla but i'm going with tesla. >> would you rather set the dollar is in the stockmarket or real estate right now? >> if we're investing in real estate performance. >> that was yankee's legend alex rodriguez sitting down with mellissa lee playing one of our "fast money" games would you rather he had a question for the traders. let's listen to that. >> it seems we're a very full market t. question i would have does it go closer to 22 faster or down to 18th faster

>> all right guys, what do you say? >> i'll play the lower of affection, we're 21,300. you will say it will get closer to 22,000. we haven't seen the dow going to the downside, unless a. rod knows something. >> those answers on the stockmarket tells us this is a man with some insight. he has friends in high places. >> once upon a time. >> i thought it was a little short-term trading, tesla versus gm i like the pull back >> you can find the full interview on cnbc.com. speaking of baseball it's time for fast time the pitch. one of our traders will pitch a stock they think is worth a buy. when they are done the traders on the desk will follow that up. >> we're looking at western zij

tal. here's why, it's a really interesting company. it's been on a tear recently, here's why i like it you start with management. when i look at management, bold and aggressive steve milligan went out and bought sand dysc now they're a potential toshiba unit that's an $18th billion deal if he can accomplish that. it's aggressive at a time when they were going up and down and everybody had questions about that so i think that part the management is very, very strong. they've got great goat now going forward because of the combination of the drive along with the flash memory. >> that will be huge in the future now you got to look at that time the strong fundamental also. when you look at that time pe, they traded at 7 this is at a single dandridge i digit pe it's a 3% yield.

it's a cash cow. when you look at what's going on in this company. i think the 120, 130 area is not that far out in the future take a look at what this stock has done over time unbelievable few look at an annualized return, 16%. that's a stock you want to own, i own it. >> who has a question? >> i have a quick question for pete, there are other bidders for this toshiba unit. if they lose to broad com, western digital, does that change your view on the stock? >> absolutely not. if they don't get it done, they push forward we will look at these earnings at a really impressive rate. if they get it, that will press the earnings faster. they don't have to rely on this particular bid. >> it's one of the things that's driving the stock. do you believe in balance, what happens if suddenly you see a sly response >> well the one thing we have seen, tim, recently. they just got going in the conference san francisco last week. they talk about the discipline

they are finally see in that space t. fact that they are keeping supplies low across all of these various chip suppliers and so forth i think that's huge. i think western digital. you look at the valuation, everybody talks about the bubbles and everything else. this stock is not a bubble >> all right so, big question, are we buying pete's pitch >> are you familiar with that? do you know who that is? >> it is cool but he said go west young man, morgan stanley said a 120 price target. giddy up. >> if you have to look at buy wheat if it's a trend not a trade so you give eight couple days it's a buy they're up 32% it's up 32%. >> it's up 32% it could be home year data. >> i breathe a bit. >> you tell me. >> i'm with you. >> i'm a buyer

>> wait. >> you said. >> interesting pete, there is high heat to a. rod. it would have been interesting >> i can bring it. >> all right the big question is did pete make you want to head to western tgital. goo cnbc's "fast money". we will reveal that after the break. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock.

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go long.

>> welcome back too fast moimpbl. america has spoken. >> time to reveal whether pete's pitch convinced to you buy western digital. drum rom, please, it is a very close call it looks like they did, in fact, side with you. [ applause ] >> they got the call >> hone with the pitch >> pitches, man. >> i was questioning whether this was rigged or not >> it's on the level it's the outside corner. jesse painted the corner >> thank you >> pete rigged the pitch game goes first. >> i'm going, we talked about financials, gold man sax will get you done i think this thing is going higher. >> tim. >> financials, stick with the winner