that's an interesting move and there's so much competition in the space. >> and it seems like a measure based on the fact that there is this logjam. >> and we're testing that this spring that's the news on zillow. shares are down. mike, thank you. as always, "fast money" starts right now "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square i'm melissa lee tra tonight on fast, check out this chart. bitcoin is surging, heading back to $8,000. what is behind this major move top bitcoin investor spencer bogart of blockchain capital will be here and tell us why today was the start of something big. and the ceo of general electric speaking out last night to cnbc. we'll tell you what he said that has all of wall street on edge first, we start off with the market rally the dow surging more than 350 points at the high as the

markets shrug off the uncertainties around syria in a trade war but tomorrow is the moment of truth for the markets because it's judgment day for the rally as earnings season gets into overdrive. j.p. morgan, wells fargo on deck to report in the morning there are two major questions here number one, will earnings results crush wall street's expectations and number two will earnings drown out the chaos the trump tweets, the trade war, geopolitical threats surrounding syria. guy, it's hard but you have two questions you need to answer. >> can you repeat the questions, please i'm kidding. it's a joke. the first question is will earnings crush expectations and i think yes but i think everybody has said that for the last couple months. >> which means expectations are this high. >> without question. >> the question is will it drown out the chaos. but the most important question -- >> which has not been asked. >> dan nathan last night said what will guidance be.

guidance will be key in my opinion, markets held the 2580 level, a level that steve flagged a couple weeks ago and it's bounced you have a nicely so you have something to trade against. yes, earnings will be good it's about guidance in my opinion. >> i'll say this i think when you think about the sea level suite and what they'll be able to articulate going forward is suddenly they had excitement, enthusiasm about potential for cap x and maybe mna but when you think about the geopolitical stuff, you think about the potential for a trade war. that's been tamped down a bit. there's going to be a bit of uncertainty. and i want to say, tomorrow's important. we're fully expecting good bank earnings, if they can't continue to rally, that will be important but you have to look at the week after next when you'll get amazon, microsoft, those put together if we can't rally into that, i think we are going to be range bound for a while. >> i'm not sure what you're

saying. >> if they can't rally tomorrow, good earnings we expect, i think the market will stay below 2700 in the s&p and if we can't rally, if faang can't rally us in two weeks, i think the market's done for a little bit. >> it sounds like you think we can go sideways until then by the way, you guys are like peas and carrots over there. >> what does that even mean? i'm not sure. >> playing off of each other >> either you're made to be together or you make no sense. and what i think makes no sense is that ultimately people think earnings are suddenly going to squelch down the noise of everything from syria to fed to rates to white house to you name it when, in fact, those things are trumping everything. and if you tell me -- >> they didn't trump everything this week, though. >> they weren't coming out and ultimately the markets were probably way oversold. having said that, i think this is probably the first quarter since pre-crisis in over ten years where equity differentials are at askew -- >> meaning what? >> fundamentals, what equity

markets did in the first quarter versus what fundamentals are and what credit is. >> steve >> i'll start off the way you asked the question yes and yes. i do think they'll blow it out of the water i think it's enough to drown out other noise. i think eps revenue growth and net income margins are going to explode. i think all across the board so to dan's point, i agree i think the financials will be -- i think that financials had a head start i also think large cap tech, though, to dan's point, has to prove something and i think they will i think money will come back into there that's the biggest spot of the s&p and why the market will continue. >> i think it's important to remember that facebook and amazon, they're damaged now. they really are damaged. amazon is down 10% from its all-time highs >> amazon more so i think that facebook got ahead of it i think you're better off if you were putting new money to work, you should buy facebook. >> and i want to add apple to that don't forget apple stock sold off 4.5%. >> what's left

>> i'm saying if the banks can't rally us, right, and we're going to need something to get us back to the highs and i don't think it's going to be q-2 guidance that does it. >> almost the unfortunate part of earnings season is that the big banks skew to thefront of earnings season. we have weeks to go where we have industrials that will report and will it behoove ceos at this point in time with rising interest rates with a looming trade war, et cetera, to come out and say i'm super bullish second quarter i'm going to raise guidance unless they're sure. >> that was dan's point. it's all about guidance going forward. to your point, why would they give great guidance if you have air cover not to i agree with that. and i don't think necessarily that earnings can override all the noise we're hearing. that's what tim is saying. the good news is if you're a technician, the market held those levels. >> the only push back right now is that we're looking at a corporate tax rate that j.p.

morgan was above 30. it's down to sub20 or right around 20. we don't know what those knock on effects are going to be there is know way to analyze that. >> but we have assessed and tried to analyze that for the last three months. >> can't the last time we had corporate tax rate -- i don't mean to be confrontational. >> the bottom line is. >> so analysts are always right. >> so why are we saying -- >> the market is blind to the facts that we got a tax cut. >> you guys are talking at the same time. >> if analysts do this for a living we should say expectations are reality. >> there's no way we could figure in a corporate tax rate -- i agree we don't know the full impacts but i don't think we'll know. >> my point is that the market

took us through a blowoff top on january 26 which was the built on the fact that we have high expectations for it. these guys will tell us over the next two to three weeks so to tell me it won't happen is -- >> i think it's important to remember that this churning down the s&p, down 7%, 8%, 9%, i don't think it's particularly bullish. one of them is obviously something having to do with serious. if we are doing anything other than drones and russia were to shoot down one of our planes, we have a really big problem. that's one the other is if you see rod rosenstein fired, mueller fired you're down 4% like that >> i thought we were going to see it this week i thought we were going to see it because i thought the syria thing was the tail wagging the dog event. if we do check those levels again, if we break that, then it's light's out for the market but to guy's point, you have something to shoot against and i think you look at 2553, which

was last week's low. >> we saw intraday how the s&p reacted when we got the headline that u.s. had eight potential targets in syria we're skittish ahead of earnings season. >> we're absolutely skittish if you think about the backdrop here which is over the last two days the market has been largely repaired, folks, we're only 400 basis points off of lows where people would be running for the hills. we're basically an ad hoc comment on twitter about the fact that, yeah, you know, syria we might, we might not. >> but high or lows. >> i think kudlow is a good different of this network and a lot of people in the market but i'm not sure larry is the one calling the shots. >> on a technical basis, we've done technical damage, we won't do it doing earnings season but we have made a series of higher lows which in the face of all these tweets, that's healthy. >> let's go to a technician. great idea. >> our next guests say two of the banks are a buy. chris, all these guys citing

levels and technical analysis. yo i don't know what you think of them. >> we have a big couple days in front of us as thesebacks start to report. what i want to focus on is probably the most important stock in the market, certainly the bank sector, j.p. morgan looking back over the last couple years every time it checked the 200-day moving average it responds we saw it in 2017. we think ultimately we see it here in 2018 and what strikes us, when you look at the pullback last year in the spring of 2017, it was worse than what we've seen so far this year so if we take a step back and say, well, what does j.p. morgan look like relative to the s&p 500, when j.p. corrected late last year it underperformed as it correct this is year the stock actually outperformed what may be most curious, when we overlay j.p. mortar tan ten-year yields, this is the

same exact chart what's been resilient over the last few weeks ten-year yield at 285. we think that's bullish for the banks. when we look at analyst recommendations the street is very bearish on j.p. morgan at the 2018 lows. less than 50% of people who cover the stock have a buy on it one more name, wells fargo we had a big climactic low in volume the recent low, we think that's a positive sign that the stock is fine. and when we look at the big picture, this is pushing up right against the 2675 level we think ultimately you break out here, it's hard not to like this picture three weeks of basing, we think it goes higher

>> chris comes over, right >> i don't think there's a question -- >> come on over, chris. >> bring him in. >> thank you, ryan, for the chair. so when you're looking at these charts you also look at the ten-year yield chart because i feel like on a day-to-day basis it's subject to the whims of the ten-year yield, the direction of financials. >> let's keep yields in perspective. september 1 of 2017 ten-year yields were 201. they hit 295 a month ago they're only off 12, 13 basis points the yield market has been very, very resilient two-year yield still at 230. five year yield back at the highs so if you're looking to the bond market for a signal on these bank stocks i think you have to be impressed with what we've seen over the last several weeks. we've thrown every piece of news at bonds and yields can't seem to keep them lower. >> when you look at isthe slf,

j.p. morgan is basically got 11.5% of the xlf so it does swing it around a little bit but do you look at it through that prism occasionally? >> sure, we always do. and what's been most telling the last month two is the broader market has come in this is the first correction for the s&p 500 where bank stocks have outperformed in two decades. in two decades you have to go back to the mid-'90s to find the last time that happened. that's a sign of strength. we should embrace that. >> so, chris, over the last few weeks we've been talking about the churn in the s&p 500 steve says it's a series of higher highs to me it looks like a churn. you may get your breakout but let me ask you this. if we had a tape bond that brought us down 100 s&p points back to the support level, does that make it like lights out for a bit or what? >> i don't think so. there's been a couple interesting developments the last few weeks most importantly, we finally have seen a spike in put calls so people are nervous here

you have to put call ratio in the 98th percentile, all observations it's hard to see big crash risk when that's the case also, the lows here recently have been on far less volume than the lows in early february. that's common at or near a market low the sellers get less interested. we've seen that the last few days. >> are we at or near have we seen the lows for the year on the s&p 500? >> we're in the ballpark i want to be mindful that midterm election years, the bulk of the gain is found the last couple months of the year but in terms of have we seen the lows -- >> you mean after the election then >> post-september markets will respond fourth quarter but in terms of have we seen the bulk of this correction, are we through the worst? i would say yes. >> all right chris, thank you. >> thank you. >> chris veronne. >> j.p. morgan, people can't even filed the yield curve and are talking about how flat the yield turcurve is libor has been cranking up j.p. morgan was up 45% in 2006

when the yield curve was flat to slightly invert sod that whole thing is garbage the other dynamic, if you look at the technicals of the market, i think we are in a difficult place until we get through the next earnings season some of the damage, you look at the 50 crossing over the 100, we've gone to this minimum term place where i think equities look challenged. >> you haven't been on the desk for a while. the last time here you were going on vacation and you sold. >> two weeks ago i sold my major positions. i bought them back i didn't buy them back in full i brought them back, two-thirds of my positions. bought all of my alibaba back, two-thirds of my square back, two-thirds of my avis budget back. >> what made you do that >> i felt that we're going into -- i sat here on this desk and said the market had to thread the needle for the selloff before earnings and i thought it was difficult for the market to sell off while we here in the middle of earnings because of the tail wind. >> you think we're going to be strong or decent for the next

two weeks. i think we'll have tail winds, be strong and the market will move higher. >> casinos had a great day we've talked about them but getting back to j.p. morgan, this has been my point all along. i think banks deserve a multiple of about 1.8 price-to-book if you look at j.p. morgan last quarter was $67 book value. this quarter will be north of 67 bucks. that will come in and this is $122 stock so to me j.p. morgan works because of that metric. >> we talked about faang i think you want to steer away from that right now. there are a couple old tech names acting really well, intel and microsoft and you can see both companies report good earnings and decent guidance given where they are i think valuations are reasonable and you're probably going to see these ones make new highs before you see the faang make new highs. coming up, disney taking its first major steps pushing espn into the streaming wars with the launch of espn plus. but is it too little too late? we have the details. plus, bitcoin surging back after weeks of being stuck in

crypto purgatory can you trust this rally we separate fact from fiction. and later tim seymour stepping up to the plate with the one stock that has been grounded but he says is about to soar and, yeah, that's a hint you're watching "fast money. we're live from mesqre itis uan new york city. much more "fast money" right after this

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not the other way around. welcome back to "fast money. shares of disney down more than 14% from its recent highs but one of its biggest networks launched something that could give them a boost. julia is breaking it down. >> that's right, melissa espn plus is launching today in the u.s. for $5 a month. it's part of a redesigned espn app which includes free news, scores, and highlights and for tv subscribers access to streaming espn the plus subscription includes 10,000 live sporting events in the first year plus original documentaries and exclusive shows, including a new one from kobe bryant. espn plus subscribers won't get sports center or any games of espn or espn 2 from tv but they will get 180 mlb and nhl games and thousands of college sporting events.

the espn chief tells us this is a starting point. >> this will be a pflew wid process we'll make changes on the product side an content side, look and see what's working and not. >> kevin mayer who overseas disney's direct-to-consumer business says it may general it are losses for a number of years but it will be profitable in the not too distance future and espn chief pitaro says he doesn't expect the new service to cannibalize espn's core tv business but rather help it compete. >> >> we're looking at it as giving optionality involving media landscape in a world where things are changing not just monthly but weekly, in fact daily, we like the fact that espn plus will give us that optionality. >> doug krutz says he expects the impact to be modest but it

could bring all of espn's tv content direct to consumers. >> you're a shareholder. what do you think? >> people get too lost on espn and cable when they look at disney studio is crushing it, parks are crushing it and "black panther," how many times -- >> three times. >> at least, right >> three times "black panther" for guy. so at the end of the day disney is a story that's a much more diversified media story. by the way, why isn't espn in the dtc business be able to compete with the best of them. the assumption that everybody is moving in this direction espn can't compete. right now it's complementary to their linear tv. at the bottom of the range, disney at this valuation looks as good as any stock. >> you can't get everything on an app or on your phone and it's cheap. >> i don't know what this is it's not a substitution. it's complimentary i don't think anyone needs this. i don't think you need to buy this product. >> i think you would say do you

need hulu on top of netflix? >> these are games -- cricket. is there a huge market for cricket that people have to spend $5 a month to buy. >> i think the key point is original content and the other key point is optionality think of this as a beta test they'll add stuff to this so if you're a shareholder and you think this will be an espn turnaround, this excites you if they continue to innovate they will migrate tons of support center content think about where we are. >> i think it will cannibalize if they did that i would get excited about the product. >> i think this is a new mobile world. this is an app not for you or me. >> what is in the price for stock? people have been beating on espn for so long. the reality heaeality is i don'h

expectation are that high. >> this could just be a big grand test to see what things work and resonate. >> i'm with tim. espn was a big deal two years ago and unless they launch the ocho sometime soon. >> the ocho? >> that's lost on you. >> chad ocho -- >> no, the ocho. in "dodgeball. >> no idea. >> i think valuation -- they traded 13 times forward earnings, the rest of the space trades about half of that. does disney deserve that kind of multiple premium to the rest of the space? i submit no. i don't think it's going down to 85 bucks but i think it's dead money at 100. >> it's underneath all of its moving averages. the stock is troubled so it might be espn started it, i don't know what the sickness is. i believe king of content. i believe parks are knocking it out but down 6% for a reason year to date. >> the bottom end of the two-year range. >> it could be value trap with studio, consumer product, theme

parks. are you kidding me all these businesses are on fire. >> here's a question -- would you rather. >> you're not allowed to do that. >> disney or netflix it's obvious the way these guys feel y . >> you know the answer. >> you're going to say netflix. >> i'm talking and reed hastings because reed hastings to me is the ceo bob iger used to be and wants to be again. >> amen. >> i'd rather be with reed hastings and netflix into earnings with the growth internationally than disney with their shot at hulu to try to compete. >> and pricing power. >> i'll just -- i think a lot of what you're saying is correct. there's no doubt about it. disney was a stock that people bought for their kids. when you think about what they're doing on the franchise, i think bob iger will get it right. he'll be viewed as a genius ceo

of this generation so -- >> so you go to disney >> netflix for a long time traded with a takeover premium if anything netflix will be using their overpriced currency to take over something that doesn't make sense it's way above it's the antithesis of everything i said about disney. >> are you shorting it >> i don't know, but you said -- >> are you shorting it it doesn't mean i have to have a plan so if you ask me and i buying netflix i'm asking you if you're shorting it. >> it's a fair question. >> it's up 61% year to date. i'd rather buy netflix. >> that's why we call it, would you rather. >> i said right off the bad. >> i like that, thank you. >> he gave a soliloquy -- >> good job, guys. four stars for everybody. coming up, general electric rallying 2%. what the ceo said last night to cnbc that's got all of wall street excited i'm melissa lee.

you're watching "fast money" on cnbc in the meantime, here's what else is coming up. >> announcer: tim says one airline stock that's been dead money for the past year is about to take off and he'll pitch you the name plus -- ♪ love, exciting and new >> announcer: yup, bitcoin is surging and a top hedge fund manager says it's about to move and he'll tell us what has him so bullish when "fast money" returns. with hundreds of pros and volunteers. and truckloads of technology. businesses need that same kind of scalability. cdw can orchestrate a scalable enterprise cloud solution using nutanix technology that will grow with your business, helping you do more, faster. cloud scalability by nutanix. it orchestration by cdw.

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[fbi agent] you're a brave man, your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances. welcome back to "fast money. bitcoin getting a bid as the cryptocurrency posts its highest price in two weeks what is behind this boom we're at the crypto desk with the details. hey, leslie. >> is this the bitcoin breakout? bitcoin posting one of its best days of the year, hitting a high of $11,008 on coin base before losing ground. the move pushing all the cryptos

higher, ethereum, bitcoin cash, lit coin and ripple were up sharply. brian kelly pointing to a short squeeze. take a listen to what was said earlier today on cnbc's future's now. >> it's overdue. point is oversold and when you look at the mining cost for our bitcoin misery index, it's pretty much what you saw at the end of the 2014 bear market, not the start and we do think that tax, capital gains really, really accelerated in the past couple weeks because tax day is coming up. we still feel good that bitcoin

could reach $25,000. >> you can find the full interview with tom lee at futuresnow.com, that's cnbc.com. so tax selling and short selling aside, the top question on every crypto investor's mind right now is this bitcoin rally for real back over to you. >> leslie, thank you leslie picker. spencer bogart -- variety of crypto assets thanks for being on the show. >> thank you for having me. >> do you believe in this bounce >> yeah, listen, i'm not ready to call the end of a bear market i think there could be more regulatory shoes to drop but i think the tax selling has been a real thing but it has accelerated over the past few weeks so i'm not surprised as we get closer to tax day that that selling pressure is easing. >> we like to play games so we thought we would have fun with you if you're willing. >> i love games. >> we wanted to play a game called crypto fact or fiction. here are the rules

i'll read you a statement. you tell me if it's fact or fiction. got it >> all right. >> first up, fact or fiction -- tax selling is behind the recent bitcoin decline. >> fact. absolutely i think people realized way more taxable gains in 2017 than they expected to and now with crypto prices down 50% from their highs people have to sell twice as much crypto to cover the taxes. >> next up, fact or fiction -- bitcoin will not get back to december highs this year >> i'm going to have to go with fiction here i'm not sure it will, but it will be very easy for bitcoin to get over 19k or 20k, the highs we saw in december it's not hard for a large amount of capital to move into this space and push prices up significantly. >> lastly, fact or fiction, bitcoin will be the best performing cryptocurrency this year >> i'm going go with fact here i think there's a lot of a regulatory overhang and i think bitcoin is the -- in the safest

place out of all of the other cryptocurrencies a lot of them have icos and that has attracted as to was it or was it not security tokens bitcoin is the only one that clearly falls on the safe side of the s.e.c >> let me push back a little bit on the tax narrative when you think about it, if you had big gains in 2017 and you have this huge selloff in 2018, the whole crowd might not sell the asset that's down 60%. they may sell amazon or something else they've owned for a long sometime is that a possibility? we may look back and say that was a convenient narrative around april 17. >> that very well could be but i think it's surprising how much taxable gains people have had in 2017 if we think about the performance of this is a set class and we've seen coins in

2017 rally if not a couple thousand percent, even if people were hold ethereum, if they traded that for an ico, that was a taxable transaction which some people might have not realized again, maybe at the start of the year they would have had to have sold 10% of their portfolio to cover those taxes. now in a situation where markets are down, they have to sell twice as much. >> so the whole discussion about institutional investors coming on board is one of regulators, et cetera. what is your best guess? yeah, the institutions are coming but there may not be a lot of room for these guys i'm curious on your timetable. >> trying to guess on regulatory timelines is equivalent to reading tea leaves if i had to guess i would say we we'd be pressed to get strict regulatory clarity before the

end of the year. i guess that's more likely either very back half of this year if not more kind of a first half of next year. but let's think overall about the situation here if you're a macro asset manager, you're looking at a situation where central banks are unwinding the biggest experiment in money we've ever seen at the same time all asset classes are at all time highs. meanwhile, you look out of the side of your eye and see this crypto asset class which is down 50% to 70% and remains relatively uncorrelated to its assets if you're a global macro hedge fund manager, i have to think this is a set class is looking increasingly appealing especially everyday that goes by when developers are developing on these networks. >> spencer bogart of blockchain capital. what we didn't get a chance to talk to spencer about was a ripple investment, $25 million of xrp blockchain capital. these kinds of funds are getting

more and more attention. >> we've talked about this a lot. there's a wall of institutional money coming into the space. the money may not have been flowing into bitcoin itself as other crypto asset bus it's going into funds like his. >> but i think there is a danger that these naunds are flush with cash have to jump into this market a lot of capital was eradicated at the top which i think will be as important to other people i'll bullish on crypto and the whole space but -- >> a lot of investors who invested early on in whatever fund they lost out and they're disenhasn'ted? >> i'm saying after the euphoria of december, a lot of money came in in january. >> that was retail and we've seen that time and time again. other risk assets. when you think about where are institutions investing. >> i'm not sure you disagree, dan but i disagree with spencer.

if markets have a pullback, you won't be running into bitcoin. it's not a safety asset class. it's exactly the opposite. >> but had a gold discussion last night would you buy gold in gld for the reasons or would you buy bitcoin? gold is traded -- >> i think he's saying that's not the choice that's not the would you rather. >> you know how i feel about gold gold has underperformed massively in the last two years with the dollar weaker but i don't think investors and institutions want to run to the safety of bitcoin. >> i think they'd rather run to gold i believe crypto is going to be the future and that blockchain will be the future but i believe the volatility we've seen in boyne has pushed more people back in. >> see how well spencer played fact or fiction? i gave him the rules, he executed. >> we learned something. >> i learned a lot, brilliant. >> brilliant. >> nice job.

>> still ahead, did you miss out on today's bitcoin bounce? guy adami has three simple steps to buying in on the way up he will bring it down. plus tim is stepping up to the plate getting ready to pitch one airline stock he says is about to fly to new heights. will the other traders get on board? find out when he delivers his fast pitch much more straight ahead re dive. as investment management professionals, let's measure up. cfa institute. hey, what are you guys doing here? we're voya. we stay with you to and through retirement. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that tie. voya. helping you to and through retirement.

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>> we had a great first quarter in terms of demand record revenues for delta up 8% top line driven not just on the domestic system but for the first time internationally our international revenues outpaced our domestic revenues in terms of growth and the transatlantic, which was most encouraging, is really encouraging and gives us good momentum. >> that was edward bastian speaking about delta's better-than-expected first quarter. the airline stocks have been trouble getting off the ground and tim here pitched american airlines back in july. it wasn't his best call. the stock is down 10%. what's your next move? >> here's my call. they've been phenomenal trading stocks and to me with american, you heard this from delta, the numbers in the sectors are

phenomenal i stay there. >> so time to redeem yourself. you have another pitch. >> let's do this if i failed on one airline maybe i run the risk of failing again but i'm going to go with united. if we bring up these three bullet points. right now sentiment is way too low in the sector. if you think about what is going on after united set the bar extremely low. they told you capacity could go too quickly bottom line is earnings always guide. remember we got guidance on the first quarter. i think the revenue for available seat miles is something that will surprise and get on the upside. and this put nepal is too low for this economy we're talking about an economy that's probably going to have its best growth in four or five years.

stock is trading relative to ten times an economy that's probably growing. this company trades between 10 and 14 if they earn eight bucks a share, this stock is very cheap at 80 bucks which is where i think it can go so if you look at this chart, the move we've had, the pullback, this is a level where i think we get to on a reorganization of sentiment around the stock so this is a great multiple story, sector two low. don't you want to own transports united is a company i think the news on this has been not equal with sentiment. >> how much goes into the calculus on the price and direction of oil to your bullishness on the airlines? does it hinge on that? >> it's a very important point and if you think about earnings plus or minus energy prices, it's probably a 15% hit to earnings so no question these guys will be sensitive and airlines are sympathetic to the down side on a move in oil

i think when higher oil prices come around airlines can charge more and that's a good thing. >> time to vote. are you buying or selling tim's pitch on united. grasso >> i'm going to say buy. i like the pitch i think airlines as a whole are going higher. >> let me guess what dan is going to say. >> sell this thing tim makes a good point there were good triangles but -- >> i don't need the trophy. >> >> i would rather fly delta doesn't mean i'd buy or sell i can't get my arms around united losing people's dogs, clubbing that poor man as he leaves the airplane. >> they dragged him off, that i didn't club him. >> very good contrarian indicator. >> just point of fact. >> are you out there buying tim's pitch for united you can vote on our twitter poll @cnbcfastmoney. tim, not looking good.

plus general electric ceo john flannery speaking at a cnbc event speaking about jeff melt we will bring you those comments when "fast money" returns. tomorrow, it's a day filled with promise and new beginnings, challenges and opportunities. at ameriprise financial, we can't predict what tomorrow will bring. but our comprehensive approach to financial planning can help make sure you're prepared for what's expected and even what's not. and that kind of financial confidence can help you sleep better at night. with the right financial advisor, life can be brilliant. ♪ directv now gives you more for your thing. your letting go thing.

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money," general electric ceo john flannery speaking out about investors and the future of the company at an exclusive cnbc event last night let's get back to morgan brennan with the details. >> john flannery sharing his vision for the struggling company a year from now. >> the reality is in up with year we have to have proven and we have our first report card coming out on april 20, we have to prove that we can run the company better and improve the results and get the essence of the company to shane. >> that first report cart coming out next friday with first quarter earnings but investors are waiting on more details for the longer term turnaround plan. now flannery, who's been at the helm for almost nine months also comments on jeff immelt. >> i worked for jeff for -- directly for the last ten, 12

years so the alumni, if you will, have unique perspectives and i still remember calling jeff shortly after starting the job. he used to say every job looks easy until you have to do it and i remember saying yeah, now i understand that well now so their perspective is invaluable. >> now this interview coming as investors await rotated 2016/2017 earnings thanks to new accounting rules that's a filing expected to come tomorrow meantime, given the uncertainty around the company, the stock is down 25% it's down more than 50% over the past 12 months melissa? >> thank you very much, morgan brennan. should investors brace for more pain according to earnings next week there will be a shareholders meeting and then an industrial conference

>> john flannery promised about $20 million in divestitures by october. i think they're a quarter of a way there. that's not good. why is that? i don't know, maybe people don't want to buy what ge has to sell. i get that it looks kpet competitive on evaluation. >> i came close to buying this today off of his comments because i look at a chart and it makes me nauseous to look at this chart but when you hear flannery say his first report card is coming up next week, there's not a lot of time for investors to think about that. >> isn't that something about blood in the street, that's when you buy. >> he's feeling good about what will happen. i'll look at it tomorrow and i might buy tomorrow because for him to give himself a short leerve i think he feels confident.

>> >> this could be that chance everyone wanted him to sink this thing and he hasn't done it yet. the other side of this baker hughes is up 25% off the bottom here's something else. if this company earns zero is it worth zero everybody that's doing the multiple thing, they're going to earn a buck so it's a $11 stock, that doesn't count the intrinsic assets i think the sentiment is too low. i know it will be a tough turnaround. >> is that the calculus you would use? even if they earn zero would they be worth zero >> of course not. >> >> but is that a fair question to ask? >> it is because people are saying they'll only earn a buck so i'll put an 11 multiple on them. >> what's the right multiple if you have no earnings growth. >> how many companies are like that >> there are other companies in the same space that have managed to do the same thing honeywell has crushed it -- it's

effectively the same company honeywell has done everything right. >> then you have to go sum of the parts. if there's no earnings you have to go some of the parts and this has to be worth something. the problem is the market will dictate and for now the chart looks terrible. >> >> as we mentioned, ge set to report next friday the options market implying big moves for the stock. >> if you look at the options market and price it to next week's close, it's about an 85 cent move in either direction. this thing has not moved a heck of a lot partially because we've seen didentd cuts. that's where the big gaps have come but when you think about what's been going on this year stock down 25% that's not capitulation what traders like steve and long-term investors are waiting for capitulation so if you're trying to be contrarian, that makes sense. >> for more options action, check out the full show tomorrow at 5:30 p.m. eastern time.

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welcome back to "fast money. bitcoin is back. the cryptocurrency soaring more than 10% for one of its best days of the year but it's not just bitcoin check out other high flyers. tesla is up more than 20%.

netflix, caterpillar, nvidia, boeing if you're feeling a little fear missing out, relax guy has a plan to buy stocks that are going higher in a hurry. it's a segment we like to call "the more you know." >> remember, the essence of a show is a trading show, so i have my trader cap not my investor cap here are my rules. have an exit strategy. what does that mean? tesla, i said if it breaks 280, pull the rip cord, a close above 280, get back in nowhere you'll get out if you're wrong and where you'll get back in if you're right don't average down i've heard all about dollar/cost averaging. that's an investing thing. this is a trading thing. i'd rather you buy more up than down don't average down when you're trading. third point.

feed off other people. if tesla starts ramping to the upside, use that to your advantage. buy more on the way up know you'll take profits in the top and you'll be fine so don't average down, feed off other people's fomo and have an exit strategy. >> by the way, i don't ever want to feed off of someone's fomo but you're talking about stocks that just bounced off a big tailoff. why aren't you grabbing momentum just in time to hit the skids one more time? >> you know it could happen. tesla for example, could go through 280 and i'm wrong but for my rules a close above 280 gets along the stock again, you traded against that 280 level and look for a move back to 350. we've called that 280 level. you had the brief move below, i say you get along the stock, buy

more on the way up. >> thanks for that, gye. coming up next, we will reveal whether you are buying tim's pitch for united stay tuned polk county is one of the counties that you don't think about very much. it's really not very important. i was in the stone ages as much as technology wise. and i would say i had nothing. you become a school teacher for one reason, you love kids. and so you don't have the same tools, you don't always believe you have the same...

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[fbi agent] you're a brave man, your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances. you know what tim does when he goes on long flights, he listens to marathon sessions of toni braxton's "unbreak my heart" because america not buying his pitch big time, actually big loss, by the way. >> you know what toni's been good to me and the stock market we love toni so you know what i'm going to do, united airlines, go buy it.

>> avis budget. >> dan >> microsoft. >> guy >> big oa tomorrow. >> huge, always big. >> tivo that thing. >> don't even. >> i'm melissa lee, thanks so muchor f watching. see you back her meantime, "mad money" starts right now. my mission is simple -- to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. 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 save you money. my job isn't just to entertain but to teach you call me at 1-800-743-cnbc. or tweet me @jimkramer surprise this market can still guff us a sustained rally that doesn't peter out at the end of the