stanley numbers and goldman sachs, maybe they can outperform and goldman finished flat today whereas the index is down 6%. >> one thing i just want to say is that costco just raised its dividend this is important because it follows procter & gamble yesterday and j & j yesterday at a time when many investors are looking for dependable dividend in the absence of yield. they're finding them in some of these staples. >> and a sign of strength for those companies. we are out of time on "closing bell." brian sullivan has you covered next. welcome, everybody to cnbc's "fast money" and our continued coverage of markets in turmoil i am brian sullivan, thank you very much for joining us another big night and we gave back in the market everything we gained yesterday up one day, don the next the dow jones average falling 400 points and the nasdaq losing 1.5% today we have karen, guy, tim and dan.

i also have a great guest for you, michael kolanovic, j.p. morgan, he thinks the bottom is in and he'll be here to explain why and we'll talk about what he's seeing and why he's studying coronavirus trends around the world to try to understand the stock market, netflix made a new high. bed, bath and beyond, that stock is up a little bit after hours and it's down about 80% over the past year. we got a triple whammy we have to start with the market bad data on retail and oil falling to 20-year lows and the banks continue to drop on their earnings concern guy adami, of those three because i would argue and i didn't think data mattered at all, of those three which one matters the most to you? >> i think the fact that oil can't get out of its own way out of those three the way that banks have traded, we can talk about that, but the

way the data we knew would be miserable and maybe it's worse than a lot of people thought and the bloviating and the noise, it can't get out of its own way and the rally lasted a couple of days it's somehow concerning and given all those three things and given the run the broader market has had, i don't think today was all that bad you know that i think the market will pause here and head back lower and given all of the things you just mentioned it could have been worse, so you have to take, there's some silver lining on the back of that, i would think. >> yeah. i don't know who was surprised by oil the tanks are nearly full and citibank putting out notes saying we could be out of storage and we could have much lower prices at leasting for the current month contract, but with all due respect to the show and the production i don't know if those three things are nufr. germany is going to kind of start to slowly re-open its

economy on monday. are we not paying enough attention to some of the coronavirus-related information? >> think we are, brian i think the market is now trying to sort through the macro and the coronavirus. look, on other day, and today's data, first of all, retail sales would have been -- how about the days we shrugged off 6.5 million jobless claims or unemployment numbers that were catastrophic or some of the other data so retail sales shouldn't matter and neither should the index which was a joke and that's worse than the coaster so if you think about today. germany announces that they're going to start opening their economy on monday. if we did this two weeks ago this would be the headline and it would have been up 3% or 4% so i think the market is a little exhausted here. i don't think you have to read so much into some of today's price action it opened a lot worse and if you

look at names that have been outperforming and names that people want to own, there's a lot of names across the s&p and certainly across the nasdaq 100 that are up on the year. so i think today's macro was horrendous, in line with macro that people said didn't matter on other days so why should it matter today >> and it didn't seem to, dan nathan and you guys have been concerned. one day does not a trend make, but at the same time the markets internally and some of these indexes we talked about they looked very weak again today >> yeah. one of them would be the russell 2000 small caps and i've said it a few times over the last few weeks. that, to me, is probably a far better indication of just the immediate impact to u.s. businesses when you think about their leverage, you think about what makes up the russell 2000 and the heavily exposed to financials and much weaker financial institutions than the ones that are reporting earnings this week which have been disappointing.

we've seen what the xlf has done this week alone and that's made the major money center banks so when you think of the russell 2000 down 30% from the recent highs i think that might be telling you a bit more of the story. i don't love to hear the term that data doesn't matter what's really important is as much visibility as you can get every piece of data matters. every piece of data relative to other data and the historical data so keep consuming it. keep coming up with adjectives about it it will help you figure out what's going and it will be helpful with the sentiment in the market so while the 5% to 10% moves have abated in the major indices, moving around 2% to 3% is still a whole heck of a lot. we need to find the next trend and it will only come with the

data >> okay, fair enough dan might disagree with my tweet then, karen, but as a fund manager yourself are you spending more of your time right now looking at market-related data or are you spending more of your time related to coronavirus -- i know most of my day seems to be spent looking at johns hopkins websites trying to understand trends of where we may be in a couple of weeks. how about you? >> i mean, i agree with that that's data that i really want to of course, coronavirus, but i'm sort of in the last few days of okay. we accept that we're getting to the top of the mountain and going down the other side now and so we turn our attention to can we open up the economy and how is that going to look, and i think that we don't know what that's going to look like. i am very skeptical about this v-shaped recovery, and i feel like the market has really fully

priced in a strong v shape and i'm skeptical that that will come to pass so for me what i look at is balance sheets first who can make it to the other side who can survive and what kind of businesses won't be forever changed? so that's the kind of stuff i'm looking at i agree with guy and tim they didn't think the market was so bad today at all given the run that we've had, i thought it was -- and i actually think the bank earnings have not been bad. they've been okay. they just don't know what this quarter's going to be like and that's the data, when dan talks about data and the data we want to see is what does main street and what does the economy look like in this quarter that we're in because that's when we really start to feel the effects of what's happened. >> yeah. because so many stores shut down in march or will beshut down and bed, bath & beyond and the stores are shut and i'm not sure what numbers those will tell us

and let's bring in another voice and that is marko kolanovic and we're glad to have you back on the program, the macro strategy global head. looking at your notes and mentioning the coronavirus data, johns hopkins data is the new jobs number in a certain way for me, anyway, looking at this data what are you looking at most closely to try to figure out what is possibly an impossible situation to figure out. >> as you mentioned the virus data is now key. when it comes to -- normal times are very important, but right now it is basically closed so we know that this data will be abysmal so the question is can they jumpstart when the virus subsides and when we open the economy and for that you need to know when will you be able to do that and for that you look at the virus data or retail

sales. we know there are zero if people are locked in their homes by the order of government. so virus data, we started looking at the sort of big data, actually smart thermometers about four weeks ago, was there a provider of smart thermometers and establishing daily which is pretty much in real time, influenza-like symptoms across the u.s. so we looked at the data first, and we saw early on that disease is spreading and as soon as the measures for social distancing are announced, this typical influenza increase -- we could not recovery of people and the cases of two weeks serious cases and three to five weeks, and we saw that it's better and obviously, you want to market yourself with new york state press conferences in the morning, late morning and you

want to basically see net hospitalization. you want to see a few other data point, obviously fatalities which do lag and also intubation so our model is contracting to new york state data and we were already two weeks to go and we thought apex would happen a week ago and we are getting actually now and that's the net hospitalization growth inflexion. i know it sounds convoluted, but that's basically when you start accelerating the pressure in hospital and what happened -- >> tom i'm fascinated and i'm sorry to jump in, and i need to tie it back to where i am, the stock market, and the equities and the economy. and if it's possible to re-open sooner and we think within a week from now and it's like what we're seeing today in germany

and we think we're not too far behind and it will be limited and i'm not talking about -- i'm talking baby steps and that tells us that sort of by the summertime we may substantially recover and some time next year, maybe the second half of next year the economy reaches a high watermark which means the market could reach the high watermark next year and that's the time line that we expect. >> so, marko, thanks for being on it's guy a lot of this assumes -- i would think, that once people feel that we're somewhat out of the woods things go back to normal, absolute -- where we were three or four months ago i'm hard pressed to come up with a situation or scenario where that takes place >> we're not talking about normal normal. think of something that will change forever i think some restriction measures and some control measures and for instance, checking the fever i think that will become the new

normal you remember september 11th traveling in air before and after we all get used to basically being checked and get name tags in the buildings and our luggage gets searched and we're used to some of these things for instance like a temperature check and fever check and i think it makes a lot of sense and once we get used to it there will be economic value and it will save tens and hundreds of thousands of lives from flu if we can be more aware when it comes to contagious diseases >> marko, it's dan just to piggyback on what guy said you made your bones in this business being somewhat contrarian here and it seems like the call has been consensus and we've been covering the show this week over just the way strategists have moved the way i see this right now is

just we've been hit with a 100-year storm and the worst health crisis the world has faced in a hundred years and possibly the worst economic crisis the world has faced in a hundred years and look at what's going on with federal debt to gdp all over the world here. you say to yourself, my goodness, there's a lot of headwinds going forward and the stock market is the wrong lens to be viewing any success with this crisis. so why stick your neck out with new highs, 3600 by next year when we just don't know what's going to happen here if there are other waves and another lockdowns. if there's another lockdown in 2020 it's lights out for the u.s. economy. >> 3400, not 36. look, i think when it comes to the economic crisis, i agree that it's the worst it's ever happened and it's something that was ordered and something that

was done and it's undone when the conditions are met when it comes to the world health crisis in a hundred years and -- we had many instances, and over the past hundred years and right now, if we are at 133,000 beds globally and keeping in mind it was a multiple and so it's a health crisis because we don't know much about this virus and we're only learning as we go and that's why i feel much worse than it probably is. when it comes to the economic crisis, once we shot to the economy, and the economy goes to zero and that's why i don't think the sort of this is going to be something that we can sit on a historical data like 2008 i think this is very different and it's very dependent on re-opening it quickly which i think will be possible so i'm a little out of consensus

on that one, more optimistic and, look, let's also mention that we do have unprecedented demand to fiscal and monetary measures around the globe so we shouldn't neglect that as something that can help bridge this, call it the arrest of this. >> hey, marko, it's tim so around the horn here i'll go back to the data that you and your j.p. morgan team crunched down and it's your data or at least it's market data and i applaud the deep breath that you guys took as a team three weeks ago and you looked at equity ownership and looked at the marketing position and you were constructive based upon those numbers. so where are we in the market? because three weeks ago we were at one and a half to two standard deviations below equity ownership on a historical basis, and how big has it been in gi give us the market data because that's what you guys do so well.

>> we are xlbs, which we call quarter-end month end rebalances the rally going into march 31st were pension funds that we estimate are $170 billion of equities so that was an inflow, no doubt, but the hedge fund, if you look at the hedge fund data did not move all that much so hedgefunds are very, very underinvested and the systematic strategies that we are basically tracking with the risk parity and ctas and they close a bit short especially now, but they're still short s&p. so positioning is still light and those are people who basically invest based on inverse volatility and they're very loosely speaking and they are still very much underweight and the positioning is still light and that's also one of the reasons why we are positive here so the only concern will be if

the crisis lasts long, retail investors and citizens will need to dip into their 401(k) so that's the risk if this lasts too long you start depleting 401(k)s which can produce some selling, but as to that, if we can get better data, better sentiment and if we can hold the levels here, eventually in the next few weeks you will see -- you will see inflows from systematic folks which can actually give us the next leg higher so that's also one of the arguments why we think it's -- why we are still positive despite the pretty strong rally in the last few weeks. >> marko, it's karen let me ask you something can you give us a little more detail on how quickly you think the economy will open and what kind of companies and how far away is it when we have pack said stadiums or people going to concerts again >> that's a very good question, so i think we'll start with the baby steps in a week's time, and

the baby step, i mean, you can look at germany and italy and they're opening limited clothing stores and landscaping and some construction businesses and very small mom and top stores and it's not big, but it also may help the sentiment packed stadiums and it's tough to say it's very thoughtful on that one i would be more cautious of cramming people with the same density as before so that one, maybe we were talking late summer or maybe we were tying it to some of the identification programs or treatments, if not -- and keep in mind the whole world is working on treatment and the whole world is trying to figure out the next steps on vaccine, and they need to comment on something new. so on that side they'll get better and they're not going to get worse on that side and cramming people in the tight

spaces -- of course, that's going on to be slower and that's when i hope that that sort of stimulus and fiscal and monetary can plug that hole that will last longer than the initial reopening >> let's not forget, germany is slowly reopening small stores with the physical distancing act and no large gatherings until basically august 31st although there are baby steps, marco kolanovic, we do appreciate that coming up after the break on "fast money," we have bed bath & beyond and some numbers there and target, as well. we'll talk about retail, the consumer and where this market goes and later on in the show, craig johnson is very bullish stocks and we'll get his views as well. stick around

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♪ >> all right welcome back to cnbc's "fast money. we showed you bed, bath & beyond before the break and the stock up after hours and the majority of the fiscal quarter ended before the full shutdown and the majority of their stores are closed so i'm not sure what date at machines are looking at there, but there's bed bath & beyond and let's talk target, they were going to make sure that we can shop the stock bmo upgrading that stock to an outperform at bmo capital markets and karen, i imagine that you've got to love that upgrade, and there are analysts out that are saying things will get better

>> yeah. i agree with it and i'm long the stock and things have gotten better for the costcos and the targets and the walmarts of the world and they've pulled future sales in the past cup ifl months and i think that target will survive and prove themselves to be a great operator, buy online, pick up in store they have that capability and so i think that even if the world goes back to somewhat quasi normal that they'll have picked up additional business that they're likely to keep and the stock is not crazy expensive, so i like it here >> i like that, as well. >> tim, you had costco raise their dividend and jim cramer says if you cut your dividend i'm selling you and costco up. do you like costco or do you like someone else out there in the retail world >> you know, i mean -- i love jim's calls. i will say, i will say cutting

dividends for a lot of companies here is prudent. guy adami, same question to you. costco, target, somebody else out there that you think will not only be a survivor, but is investable and profitable over the next few quarters, months and years? >> i think target is the call. we talk about this, and i'm sure karen will agree if you like walmart close to 25 times next year's numbers with similar eps growth you've got to like target at 16 and a half and 17 and not to suggest that target will have the same multiple and distance has to be somewhat narrowed and maybe it's a funk of target increasing and walmart coming down and i don't think a $125 price target is the answer given the choices you gave me, i think target is the play here. >> dan >> yeah, i would just say that if you're bullish here on the

market and it's predicated on the fact that you think the economy will re-open sooner than most think then you can't be bullish on grocery stores going forward. i think it was david rosenberg who tweeted out earlier today that in the month of march americans added more food and drink to their pantries than they've added in march just alone than the last nine years combined when you think about pent-up demand for the sorts of things that people want to do once we re-open and that's go out and eat in restaurants and that sort of thing that's not great for consumption in my opinion because you'll have to work off a lot of that inventory and they'll be in households that they've been hoarding and there are a lot of fits and starts here and it goes back to your tweet that i didn't retweet about data i think you have to consume as much as possible here and there are things in the cracks that make a lot of sense and we may find ourselves in july and august saying the stock market

at 2800 is a great buy here because of it. >> if we agreed on everything then i might start to worry about my own viewpoint and i kid with love and jest i want to ask you very quickly before we move on about macy's and i'm not trying to pile on here with macy's a lot of good people work there. it's got a $1.6 billion market cap, dan there was a time when maybe it's still true the herald square building, one building was valued at $2 billion -- one billion, now the company's market cap is $1.6 billion what happens here to macy's ultimately >> well, listen, unfortunately, this is a trend that's been going on for years is that we've been overstored in america and department stores just don't make a lot of sense. they didn't make a lot of sense pre-coronavirus. they probably don't make a lot of sense going forward i suspect macy's has assets that are not reflected in their market cap and the sum of the parts is worth more.

the brand is certainly worth more i suspect you will see it as part of the on the channel strategy, that i don't know, maybe it's amazon that used the real estate for logistics and storage and they used the brand as an online store and a lot of these department stores are not going to be around in five to ten years. >> karen, what are your thoughts again, i'm not trying to pile on macy's they are probably the biggest and most well known. >> right i mean, the debt's been telling you, things are in trouble and not going well and they did hire lazard to help them thing about restructuring which doesn't necessarily mean bankruptcy, but the department store space is clearly so troubled and one worth noting, j.c. penney even though it's so small announced that they would make a debt payment and these are bonds that are due june 1st of this year and they were already trading terribly and if you look at that absolute fell off a cliff today

and you thought they would have more time and they would probably get a june payment and now it's just trading like, wow, they're going to file for bankruptcy and as debt holders, what value will you have >> that was in very slow motion and that was the death knell for j.c. penney. >> we often forget, there are a lot of people behind those numbers and i put that in context before we go to break. macy's market cap of 1.6 billion, not only it was kicked out of the s&p 500 into the small caps it would make it one of the smallest mid-cap stocks in the world. truly, a remarkable and sad story for macy's >> hopefully good news in the pharmaceutical biotech world we'll get that on abbott labs, as well. we have meg tirrell on that and coming up and oil, wow can't get out of its own way a lot of worry that all of the world's inventory will soon be

filled oil's current contract, below 20 bucks earlier today and we're back after this.

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>> all right welcome back every day we're hoping for good news from the hardworking men and women scientists trying to find a treatment, an antibody or a straight-up vaccine which would change everything. abbott also doing its part and let's find out from meg tirrell where they may stand on this crucial fight. meg? >> hey, brian. it's the next wave in testing. abbott is announcing that tomorrow it will launch an antibody test for the novel coronavirus. so this is a test that will actually detect whether you've had the infection.

it's a blood test so that's different from the pcr test that tells you if you're currently infected they plan to supply 4 million tests in april to the u.s. and ramp up to be able to supply 20 million of these tests by june this is the third test that abbott has launched and the previous two are the pcr tests to detect current infection and the first one is the point of care rapid test in three minutes and the others are lab, guys a lot of people will take the tests to tell us who will have immunity to get back to work that immunity question is still open, brian. we don't know how long people are immune if they're immune if that's an open question. back over to you >> i think that is the question, once you've had it and will you get better like ylan and her family are you super human and you are

immune let's hope we are, meg meg tirrell always bringing us the news coming up. citigroup calling the home builder stocks a lost year this year we can agree on that it's been a heck of a year so far, but are any of these names investable we think that they are we'll talk about that, oil and get a bullish view on the stock market stick around our retirement plan with voya gives us confidence. yeah, they help us with achievable steps along the way... ...so we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. oooh, well... i'm good at my condo. oh. i love her condo. nana throws the best parties. well planned, well invested, well protected. voya. be confident to and through retirement.

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>> all right welcome back here. let's do a little fast money-type segment, shall we because citigroup's analysts are getting bullish on the homebuilders quote, we view current home builder share prices as providing historically

attractive entry point and initiate on phm, and lennar. 2020 is a lost year, but there are attractive entry points didn't help the stocks today they got walloped, actually. >> yeah. listen, again, this goes back to what i was saying at the top of the show we're two months into this economic crisis and no visibility on what the consumer looks like we have no visibility on what the consumer's balance sheet looks like i suspect on the back end of this crisis whenever it happens we'll see massive consumer deleveraging that does not speak well for large asset purchases like homes. it doesn't speak well for the sorts of credit, need to be extended to consumers to buy those. so i just don't, listen, this is not a pound the table call i read it. it was initiation and they initiated some with buys based on valuation and looking past 2020 and it was not a compelling call into what is likely to be a recession here in q2 to me, nothing to do here.

>> yeah. okay guy adami, do you feel differently? when they noted is these companies are trading on average at 1.1 times tangible book value so even if you think it will be miserable and the spring selling season is shot anywhere in america they're just getting too cheap to ignore. >> it's interesting, though. it goes back to something karen said a couple of shows ago >> you can talk what book value is and i'm not saying anybody is disingenuous here. and to dan's point, how do you actually know? there was an argument out there, 25%, to buy these homebuilders on valuation and here they are now. >> they each had a decent balance off the low we had a few weeks ago and all three of them, and pulte and dhi traded about the same price to earnings multiple i just don't see any compelling reason to go out and buy these

things for a play that you're looking at a year when there's so much uncertainty over the next week and definitely the next few months or so. i see what they're saying and i just don't agree at this time. >> that's two out of three dentists don't approve this analyst call karen finerman, do you agree or are you going to make it three out of three because you were a name dropped a few seconds ago >> i don't disagree really, but it's not compelling enough for me unlike 2008 where those stocks just got absolutely obliterated, this, you know, this bounceback that they've had has been enormous there are a couple of great things that are still there. going into this downturn the mark was undersupplied so that's good and also rates are low and one of the compelling things was that employment was so high and obviously that has been completely blown up like nothing we've seen in the last 70 or 80

years. the other thing that is positive, they had trouble finding workers -- >> all right we'll hear from karen in just a bit here, obviously. physical distancing doesn't involve wire, cables and wi-fi and it isn't always perfect. you know what else isn't perfect? the oil markets. a lot of new concern that storage everywhere will be filled everywhere. soon oil today below 20, at least in the current contract. we'll talk more about oil, netflix hitting a new high and we have a new competitor coming from us tonight and by the way, we have a special tonight at 7:00asrn ete time. markets in turmoil stick around that's why i take osteo bi-flex, to keep me moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex. because i'm made to move.

>> a 10-plus billion barrel a day plus, and think again. crude oil below 20 at one point. the ford contracts are a little bit more expensive and higher as we expect to come out of this, but right now the current contract and i'll get to options action and i want to bring in mike khouw known as the options guy and a former oil trader, as well and all of the storage offshore, onshore and your mom's bathtub is pretty much going to be filled up soon. how much worse do you think this oil story could get? >> well, you're hitting right on the important point which is that demand has been hit very, very heavily and you know, there's a limit to how much storage we have available to store crude oil. so i think right now we probably have something in the neighborhood of 460 million

barrels plus the strategic petroleum reserve has 700 million in it, but these are big numbers that you're dealing with, when you start having supply surpluses in the neighborhood of 10 million barrels a day or more it becomes a logistical problem and the futures market is in steep contangle and the oil and the near-term future are around 20 bucks as you pointed out and the long-term futures are higher and we saw bearish bets today. the july futures options, for example, we saw a bet that that could drop below 20, as well and that was a 10 million barrel bet. that also and the integrated names we're seeing a lot of bearish bets and exxon and chevron among them >> good analysis and i want to turn to an equity and schlumberger and they and halliburton are the biggest oil companies and is there any

reason to be optimistic. is there anyone making any kind of a bet on slb? >> slb will be reporting this week and that's considerably larger than what it is average historically and not surprising given how the stock has been hit and this with the stock trading 1480 and you might think that's bullish, but what i think was going on there is people who own the stock are having the money calls and it pays them a dollar in premium that might not sound like much per share and if you're dealing with 15 bucks that's a nice yield and they're trying to sell the move and not expectation whole lot of upside out of it. >> mike khouw, thank you very much mike, i do appreciate that and you've been nibbling around or nibbling around schlumberger

all right. well, according to my notes, tim seymour has been nibbling on or around slb guy adami, you get my point. if you believe most of these oil company stocks are down 70% to 80%. you believe many will go bankrupt, many will and there will be survivors and if there will be oil marks, some of these have to be investable at some point, no? >> yeah. they're definitely going to be survivors and there will be bankruptcies quite frankly there should be. it doesn't give me any joy to say that, and again, i'll say this and when i say we, the united states, we're dancing a dangerous dance when it is too higher

one has to wonder what's happening behind the scenes with those conversations. that, coupled with the fact that for all of the bloviating, crude is now $20 it's sort of scary if you sort of look out there, and i do think with all my heart that the russians and the saudis who people will say were fighting with each other were not fighting with each other at all. i think it's a concerted effort to undermine our energy industry and quite frankly and unfortunately they're being very successful at it >> okay. fair enough, by the way. i interviewed the saudi energy minister i think it was two days ago and the days are blending into each other and that is on cnbc and check it out if you're so inclined. dan nathan, any report on you with the oil complex in general? >> you know, sully, guy made a really good point about the price of oil and what are we giving up politically for what

we've had over the last couple of months and 45% or so is up from exxon or chevron and it's up versus crude. so to your point, it seems to be the major, integrated names and people peel better about it than the price of crude and look at tesla and how that acts and that is contrary to what's going on with oil >> yeah. it certainly is. maybe there's room for everybody out there. coming up, netflix, that stock making investors happy today we're all kind of forced to netflix and chill. the stock up 3% today, but they have a new competitor from a guy that we know and we'll talk about that >> craig johnson called this rally two weeks o.ag what does he see happening out in we're back on "fast money" right

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comcast family julia boorstin because today is the launch of a new streaming service. i guess maybe in some weird way it's timely because we need this probably more than ever now. people are streaming a lot of content at home, but that's right, brian nbc universal, the parent company of this network kicking off the launch of peacalk and this is a streaming service that will be rolling out starting today to comcast x1 and its flex customers before a nationwide launch will be available to anyone on july 15th. in some ways the new service could not come at a better time and streaming has been at an all-time high and there's been an on-demand consumption while voice remote searches for free content are up 250%. peacock should benefit from the captive audience eager for premium streaming video, but they don't have to pay more for it and they've been able to

secure ten brands, promising the fact of five-minute ads per hour the down side of launching now is peacock is streaming options with hbo and also nbc universal can't produce any new shows right now which will delay the launch of peacocks originals and it will not have the olympics to promote the broader launch matt strauss says the company is evaluating whether it can mauve the broad launch earlier as they spend more time stretching the one advantage that comcast has is it hopes to reach its target of 20 million subscribers to 2024 and the broader service is considered more invaluable and it's promoting and bundling pea cook peacock, and guys over to you. >> netflix hitting a new

all-time high today. is it still aed about bet for our viewers' money. >> if you think about the company and 50% in the last trading days on this sentiment and the sense that people are -- [ no audio ] >> i think we lost tim's phone, as well. we will continue "fast money," tim will send us a letter and we'll read it on the air about his stock views. it will take three weeks to get here guy adami, and do you also have a phone and/or internet connection that you can send to tim? >> i'll shoot him a quick letter, but in terms of netflix, i mean, i still say it's the netflix camp i understand the contrarian views about netflix, but the stock's going higher and now

it's closed above, i believe, the all-time high and 13 million shares tip beingly trades ate and i have to tell you the tiger king or the tiger man, or whatever show, that's one of the most ridiculous shows i've ever seen and i say the word ridiculous in the best sense of the word i still think netflix that goes higher. >> i'm probably the only person in america that hasn't seen it, geary haji on netflix, check it out. i'll try to get tim there. break out your feather quill and send us a notice we'll see you tomorrow after the break, we're not done. craig sandler of piper called this rally or move about a week and a half ago so what does he see now? we'll find out next.

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all right. welcome back here. let's now get a guest in here. craig johnson of piper jaffray i think it was march 23rd which may or may not have been our last day at the nasdaq if i remember correctly, you were bullish on the market since that time, since that interview right here on this fine program, stocks were up i think around on average 20%. congrats, my friend. you nailed it. if people listened to you, they made money, but what have you done for us lately where are things going now >> i just got a text from a friend just a moment ago, what have you done for us lately in

the bulls hit the gas like they saw a green light on march 23rd and we're not done going up and there are a lot of investors asking when are we going to get a retest and a pullback? the answer simply is we're not going to get a pullback and when i look at the stocks in the nasdaq and all of the stocks in the s&p 500, i haven't seen any of these stocks come back and start breaking back below the march 23rd lows at this point in time we will see a move that will continue higher and probably rally up toward 3,000 in the near-term as you continue to see a lot of stocks making higher highs and higher lows and ultimately, brian, i think they'll go sideways for a quarter and digest the negative news around corona and see what's going to happen with earnings and you see a santa claus rally to get to the 3600 number which is a number that we still stand behind and i updated our models on that today and it

hasn't changed since 2% since we made the 2600 call back in the november timeframe >> a lot of people are very vague and you are not. we will probably be flat and you don't have volatility for a quarter, quarter and a half or two and then get an end of year rally. is that what i'm hearing >> that's exactly what you're hearing, brian from a sector perspective, how should you play in i think we should be in tech and we should be overweight consumer cyclicals and we should be overweight health care and biotech is starting to break out in the technical work right now. >> very quickly, netflix, we talked about it and the technical setup looks good based on your latest research i saw. >> the technical setup on netflix looks great and for me looking at the charts, 525 to 550 is my measured objective in the next 12 to 18 months >> okay.

very quickly also, t-mobile? >> t-mobile to me is not quite as interesting i'd rather own some of the semiconductor stocks in t-mobile right now. >> craig johnson of piper stanley, 20% greg johnson of pir stanley, thank you very much appreciate everybody watching. "mad" with jim starts now. my mission is simple -- to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to educate and teach you so call me at 1-800-743-cnbc. or tweet me @jimcramer.