institutions out there and net sellers later in the day will also say once that kind of becomes the rule book and everyone thinks they got the pattern figured out it sometimes doesn't persist after that >> melissa, we took five seconds off you yesterday, here's five back, here's "fast money" starts right now. >> we're even now. thanks i'm melissa lee this is "fast money. tonight's trader lineup guy adami, tim seymour, jeff mills -- following kb home and rh both on the move after earnings, what it says about the health after hours and gamestop to the moon, why one analyst is raising the target on the stock by 1,067%. later, the real money in fake buildings. the virtual real estate market is on fire, cash in on the craze. the nasdaq falling more than 2%.

tesla, facebook, netflix apple all dropping shortly check out etf down 6.5% this week. as yields fell today what do you make of all this, guy? >> you know, mel, you just -- it's like your in my head because i was going to start with the russell, it's down 9% since the all-time high we made on that monday march 15th. i'll tell you, we do a call every day at 12:30 and tim seymour came on and said the market was at the high and said it's something i don't like. he turned out to be a soothe sayer. it's like a moby dick page where you book mark a certain page, well book mark this one, a lot of interesting things happened vix rallied late russell down big tech getting whacked with sister

r -- with siinterest rates going lower. a lot has be with a weird feeling to manifest late with the sell off. >> the depressed vix at 12:30 this afternoon is one of the soothes you're talking about so to speak >> appreciate the old man in the sea giving me some props here. i think you've got a case where you've got vix too low for the risks in the market. i'm looking at head and shoulders is a shampoo and is also a technical term where a lot of charts look broke on the right shoulder and will either rest after a big pull back or a lot more to go again dollar strength worries me industrials are hiding a lot of pain in other part of the market. >> if we look at the vix, the spike, the iwm falling, if we look at weak technology, jeff, these are all tea leaves how would you read them? >> it's one of these days where it's hard to find a anywhere -

nate narrative that fits, i think technology and growth will lag on the upside and that's what you saw today, it comes down to this will be a earnings driven market. you have high pmi to lead to higher earnings revision i think you have more room for that in value. exactly what we saw today. everyone in financials, energies and materials and industrials and saw the part of the market where p's can compress and look at the back trade, arc, zoom, all of the other names, that's what got hit the most today. i still think where you see better earnings revision, energy, financials, tell, small caps, they've been hit but still small caps, value, i still think that's the trade. >> i think of small caps and i think about inflation. when was the last time we actually mentioned general mills, the company, the cereal maker in our a-block of "fast

money. i can't remember the last time we did general mills talled about inflation being widespread about it being global. brian kelly is that a concern of yours? and if the iwm move shows inflation could be here, and small caps don't have as much pricing power and we'll have to absorb those shocks. >> yeah i think that's exactly what the market told you today look at what seconders were sectors were strong and what were weak. it was small caps that can't pass on price increases. the tech high-multiple names that are going to get hit because you have to readjust earnings expectation and reduce multiple on higher inflation and cyclicals, industrials did pretty well. we had pretty weak economic news in the last couple days, pmi notwithstanding. is there going to be another stimulus yeah maybe it's going to be in green

and infrastructure that is all for the cyclicals. so the market is telling you this, you're going to have to earn a lot more money next year to beat inflation. the place market thinks earnings will accelerate is cyclicals and industrials, does not think small cap and tech the general mills, not the jeff mills, they're not going to pass on higher prices to their consumers. >> guy, would you agree with thain the -- interpretation of the market >> 100%. spot on. good thing general mills don't make things people eat oh, wait, they do. i bring it up not to be a jerk although it sounds that way we had a conversation about it week and half ago, inflation is here, acknowledge it don't be jerome powell and the federal reserve, they'll say it is transitory because they have to but i done the -- don't think it's going away soon now everybody's talking about

it that's my concern all along. when a company like general mills brings it up you have to take notice. it's here in spades, whether or not the federal recognize it doesn't matter it will manifest in what we eat and energy prices, health care, education, all those things. oh, by the way, asset prices as well only not seeing it in wage growth, the place where they want it. you have a conondrum for the federal reserve i don't think they can paint their way out of. >> tim, the notion the fed doesn't have a good read on inflation, would you agree. >> i love lucky charms, i eat a lot of lucky charms. yeah, they're good and i think when you -- look, inflation, i'm less concerned about food and energy inflation. in fact the fed strips that out. kworn flags doesn't have that, we're in a place where the

markets are concerned about covid head wind that's are resuscitated themselves. and of course covid-base docks like peloton and zoom continue to get whacked we are paying the piper where we should be on pe's, markets don't know what to do, tech should be bouncing tech today triple q's at the 100 day. >> yeah market doesn't know where to go. so what do you do, brian, in times like this? where it just seems like a churn, every day it's just a churn. >> that's exactly right. i would say that the easy money has probably been made in the stock market if you have been fortunate enough to buy at the lows any time over the last year, you've made the easy money. now it's more difficult because is inflation going to continue will we get stag flags airy environment.

you look at the clogs in the supply chain doesn't look like we'll have any reprieve. we had the sueaz canal, say you have to go around the horn of africa that's ten days on a trip for oiler blocker that will change the price of things, now the canal will likely be unblocked soon but the fed thinks we'll raise rates and slow down the economy. it doesn't matter, the supply chain is where the problem is. this is not demand pull. this is cost push situation. that's where the fed is wrong. but what do i know. >> another first mention of "fast money" suaz kanell in the a- - canal, in the a-block of "fast money. i say this as a follow up, we've made bold calls like this, if you seen the run you'd put money into cash right now or just hedge what you got

>> i think, listen, if you're in the high-flyer tax, high pe, names for the reopening zooms, i think you take those and put them into cash and then wait to see what happens to the economy over the next quarter or two so harvest some of your gains, maybe roll a little bit into the cyclicals because that will be a bit of a hedge portfolio but don't think you need to be 100% long this market or borrowing money to be long this market there are signs there that things are getting tired and signs that things are concerned. easy money has been made take a little off the table, maybe take a nice summer vacation and come back in the fall see what happens. >> as technical continues to tumble we speak with deputy chief investment officer at bernhardt steen advisors great to have yo great to have you with us. your message is do yourself a

favor and get out of technology. so do you that and still think there's a pretty long runway into the cyclical trade? >> yeah that's right good to see you again, melissa i think it's a little bit boring maybe for your viewers but i basically have the same message i had back in december on the show we're sitting on the precipe of the biggest profits in a decade and way to maximize gain is increase exposure and leverage those parts of the market, again, the deep cyclicals, small-cap value, emerging markets, all of the stuff generally working although has sold off a bit in the last few days you also want to minimize risk, the way is to avoid frothy pars of the market, also the most cro crowded. and if you're worried about interest rates it's the same area of the market at risk so you can maximize gains and

minimize your risk at the same time it's not often you can do that in the marquekets >> dan, it's jeff mills, thanks for being on one of the questions on cyclicals theme, one area f forgotten is real estate and reach. this area got thrown out last year because of the exposure to office buildings and strip malls, how do you feel about that area of the market when thinking of cyclical trade because it's been a stealth under performer this year. >> it's a great point, jeff. i think, you know, if you think about it, a lot of things, normal sick cyclicality was defensive last year, as was tech and ream e real estate was very cyclical last year speaking to the nature of the pandemic i do think in general investors will look to the area of the market with most runway for recovery which means they would have had

to got hit last year real estate included in that i think if there's areas to take long for that profit to come through, real estate is one of those, but if you have long-term it does make sense. >> dan, bk, so i'm kind of curious, one conondrum in the market here is we're starting to see some weakness over the couple months, whether it's related or not, pmi's are decent, in your mind does the cyclical recovery in the reopening trade, does it depend on a strong economy or if we get infrastructure spending a $3 trillion bill is that enough to keep this cyclical trade growing or do we actually have to have real economic growth underneath? >> i think we absolutely have to see real economic groaning a-- growth and i think we are going to see big economic growth. to be fair there's a lot more

visibility than normal and some of that recovery is absolutely priced in here. if you look at the history of the markets we're still early in this, there's plenty of room for recovery, the fact i'm sitting in my bedroom talking to on a camera, speaks to how much room there is for the recovery of the economy and i think it will be a long term story and economic growth will benefit the cyclical. >> that's a lot of information just to get to the runway you said would be 12 to 18 months, the market of course is a forward-looking instrument at what point do you say it's time to pull the rip cord on even the cyclical trade. what are you looking for >> historically, you know, again, we probably priced in a bit more than normal for this point in the recovery. but historically you still want to own cyclicals while the

acceleration sis still happening. coming off last year's crazy lows will you see ups and downs in the trend but the underlying trend you will continue to see further acceleration for a while it's not until late in the year when you get things like growth potentially starting to peak out and then looking stimulus starting to peak out and people starting to talk about taxes at some point there may be difficult discussion how much the market can absorb without more volume at but i think we're a ways off and i think we have a good amount of recovery and so i don't think you want to jump off the cyclical trade and it's cheaper than the rest of the market >> dan suzuki, from the bedroom, thank you. tim, final word. >> well, you can't have it both ways, i think alt oil and energy is going higher and

ultimately cyclical ity is going higher i'm concerned with emerging market china when looking at xxi. >> coming up should you cut the cord on these names. first a big id are shal wel t 'lgeyou all the headlines wel t 'lgeyou all the headlines after this we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. quick break ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. ♪ ♪ ♪ is one of the largest spectator events in north america. it's also a zero waste event,

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welcome back to "fast money. we've got a double earnings alert, kb home and restoration hardware on the move calls are now under way. let's kick it off with more on kb's quarter leslie >> hey, mel. kb home's call is now under way, it started about 15 minutes ago their ceo noting that they utilized price levels to manage costs which have been rising recently, existing home inventory down 30% year-o year-over-year shares lower by 5% right now first quarter revenue trailing

analytics estimates all measures of profitability coming in stronger than expected and bottom line beating 10 cents per share and housing gross profit margins rising 320 basis points, two more than 21% in the first quarter. the home builder said the average selling price increased 2% to $397,000 during the quarter. a big reason for what some may see as a more mod everyone the mix -- modest mix for first-time homebuyers, he said in the release -- ,n"ading ] q■

now worth noting, kb home had been up more than 30% so far this year. perhaps profit taking in the after hours. >> leslie, thanks. jeff mills, do you like kb >> i do. i like all of the home builders actually might be a little profit taking but i think the set up is really good i said it on the call this afternoon there's more real estate agents than homes for sell the supply is really thin. with interest rates rising i don't think it will matter because the demand is there. i was really interested in hearing the outlook, which i think is generally very good you can go down the line, look at dhi, len are, these are all companies trading at eight or nine times forward earnings, breaking out to new highs. kbh broke above 40 retested it and has moved higher i think there's some upside across the board in the home builders. >> here's a puzzle guy i have

going in my mind. >> oh, no -- i don't like puzzles. >> bear with me. >> go ahead. >> if the pandemic created conditions in which there's a huge increase in demand for home buying and the pandemic is over and the economy reopens and people could go wherever they want and spend money on everything in the world and not necessarily have to be at home, if the demand lessens what will that do to prices? does it make these toings still attract -- these stocks still attractive? >> it's interesting. that is the question, right, if the world does reopen is going to by definition bring a short-term cab osh on the names short-term valuation that's fair you look at rocket ships like rh and di breaking out i think it's time to take profits, i am in the camp let le n and dhi run.

quickly kbh, jeff makes a good point. 41ish was the previous all-time high in october and it sold off from there we're trading 41 now what was resistance becomes support. tomorrow will be critical to hold 41. >> up next restoration hardware stock is up after reporting results. we have the numbers. >> it looks like a lot of people are still redecorating rh reporting fourth quarter earnings and revenue topping expectation seeing high-demand for high-end products. their ceo saying that trend is poised to continue forecast revenue growth 15 to 20% in tw2021 despite continuing difficulties ramping up vendor production and challenges with ocean freight and port injection and call said

-- -- the company's also opening a new one million square foot distribution center in southern california this spring to decrease delivery times for certain products including outdoor furniture and upholstery and that the company is pushing to hotel and homes and receiving multiple offers to buy some homes sight unseen, the stock hitting a new high just this week the ceo will be on "mad money" to break it all down back to you. >> sight unseen. what a sign of the times kate thanks. tim, you still like rh >> i do. the multiple i'm scratching my head on, on a trailing year 65 times forward it's a bit better.

i do agree with all of those trends and i think the trends around the pandemic with people nesting more, i don't think that changes. as part of the conversation on housing with job markets location-independent i think it will continue. year-over-year up 520% off rh lows insane. >> we got a lot more ahead on "fast money. here's what's coming up next. >> from real estate to virtual realty there's a building boom breaking out in the fake world how you can invest in it plus a bold call on gamestop just wait until you hear how high one analyst says this stock isoi all the that and a lot more when "fast money" returns.j■

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welcome back to "fast money. there is a building boom breaking out but it's not happening in your backyard, it is happening in a fake world called the meta verse. the virtual real estimate market is on fire right now and our next guest says there's real money to be made in this fake land grab. public real estate launching a fund to let select group of investors buy virtual real estate thanks for being with us. >> so nice to be here. thank you for having me. >> i read your site and sounds like you were resistant for quite some time and finally came to the notion this is an asset worth investing in. >> let me clarify i hadn't been resistant in fact my colleague

and i had been talking about this a while as a brain child to create a fund around the concept of virtual real estate but you have to understand what virtual real estate really is. if you played -- opportunities to have in game adamis is a multi billion industry what's unique about the meta verse is virtual worlds are designed for adults where they can live in these virtual worlds and carry out their life and what's unique is they are being built on top of the ethereum block chain and transactions are happening with crypto so you have people who have been forced inside their home and living life entirely online for nearly a year now you also have a generation of

people who grew up playing video games, sims, or second life or sfornt fortnite or mind craft, and now they're spending more and more time in virtual world and companies are starting to advertise to them where they are. virtual real estate is a way for those companies to buy the lan, the pixels, the parcells in those games, put a..eds up, put ad ads up and and communities to advertise to those customer. >> sounds like there's couple ways this asset can make you money, that is, the increase of the value of that property itself also you can generate revenue by selling advertising, is that correct? >> you can do lots of things with it. let me give you some examples. there's many meta verses, there isn't just one but the oldest crypto based one is central land was selling

about $500 a parcel in 2019. today those same parcels are trading for $7800. from capital appreciation standpoint seeing 10x return in under two years. in the sand bo-- box four months ago $40 today trade for $880 a piece there's a tremendous opportunity to speculate on the land itself but for those with imagination capable of building, a casino or score on -- store on your parcel, you can build a museum and charge admission no end it to what you can do 3d developers are treating them like a blank canvas bringing thousands of users inside them at a time people need human connection more than ever. >> so have there been secondary

sales. is just the market bidding up these parcells of land and you're buying them from the -- i don't know who you're buying it from let's use centralland as an example. >> there are both primary and secondary sales and marketplaces build around these properties. so they are nft just like beeple sale was nft that happened two weeks ago. another form of nonfungal token to trade between people. sometimes you buy from a game developer or sometimes from a reseller who bought the property and now want to sell it. and there's markets specifically for this secondary market. >> how do we know there's scarity in these meta verses who is to say the operator of the meta verse could create more land and aed it to the meta verse. >> that's one of the beautiful things about the blockchain, and why people like it, it keeps people honest. the developers of the virtual world when they initiate they

publish a white paper and state exactly how many parcells they will create, hold them, sell them, who can buy them, what can be done on them, and the blockchain through the decentralized ledger keeps a record of who buys and sells them it is a way to keep developer honest at the time land prices my be exploding greedy developer can hold parcells but all can have transparency into these virtual worlds to keep them honest. >> janine this is fascinating hope you come back >> would love to >> this skbloegs this explosion and interest in cryptocurrency. >> it is absolutely fascinating, it's the proof of concept, how you go from your regular world to your digital world. i spoke about the idea of a digital twin before. if you think of what an nft

could be let's say nike decides to sell a pair of air jordans for your digital twins, your avatar that they only make 100 of them you wear that around your digital neighborhood that's how the young generation is living right no it's difficult for old folks like me to wrap your head around it but look how young people are interacting with the internet and you will see there's some value here, determining that value for me is difficult, i think the easy way is to buy the smart contract platforms, ethereum, polka dot, adams all of which i'm long. >> we talked about this on the call, jeff mills saw this as a real possible asset class immediately, that's because you have a young daughter who plays in these worlds. >> yeah. it's exactly right you first hear it and think this is insane, it's not real, it makes no sense

it's easy to laugh at in the beginning. but when you think of the ability to actually generate revenue whether you're a company or individual and i watch my seven-year-old playing road blocks and whenever they release a new flying golden unicorn she has to have it or if she trades away a digital pet and is upset, forget it, day over, day's ruined so she really cares about these things and applies a lot of value to it. >> by the way there's a whole generation living in this virtual world so this is here to stay, i think. coming up did elon musk just prove j powell all wrong, what tesla did that has one of our traders saying absolutely. we'll complain and why one analyst is bliulsh and why one analyst is bliulsh on cme when "fast money"s that . this is my granddaughter...she's cute like her grandpa.

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it's happened yet again in america. 18 dead. 2 cities 2 gunmen 1 week is this shocking to you. 41 mass shootings in public places over the last five years. each time we hear kids cry, parents pray and politicians promise and then it happens

again in america something's gotta change the news with shepard smith weeknights 7:00 eastern cnbc welcome back to "fast money" check out chairs of cme rallying as bank of america upgrades the stock to call of date. guy, what's your take here >> i like it they were neutral for a while, and upgraded to a buy. the all-time high 225 september 12019 i think we take it out naysayers would say 28 times next year's numbers probably too expensive for a change probably true. you know terry guffy has been on the show dozens of times, one of the best operators in the country, we're in an environment their products will explode. rising rate environment is part of the note. like the call. they might be tad late but stock's going higher regardless. >> terry's probably watching right now. tim what do you think? >> i think the multiple makes a

lot of sense and etf growth makes a lot of sense, and these market makers are the acts as you get into commodities and fx what not, that's the story here, i think clearly at a time you've seen year-over-year the comps look fantastic, i think that's part of the story too. >> coming up media mode -- plus game on or game over for gamestop one analysts raising her by more than $1,000% detail when split-finger detail when split-finger fastball keeping our diners informed on google was so important. details when "fast money" returns. details when "fast mone

returns.

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when you post your first job at indeed.com/bike. welcome back we've got a buzz kill in the media space. viacom falling 23% today as the example plans to spend $23 million on stock offering, joining us is cofounder rich greenfield this is down 23% after yesterday's down 9% so what two you think? >> look i think a lot of media stocks have moved far too fast too quickly. people have been very excited about everybody's going to become netflix, everyone will

transform to direct to consumer streaming companies and it's really hard and i applaud sherri and bob for taking advantage, we got to a point it was meaningful over valued versus the peers and they took advantage and raised capital which is what these companies need to do because the streaming wars will be so expensive and so challenging, having a lot of capital will be very important for anyone who is trying to battle with netflix, disney plus, amazon, et cetera. i think it's a smart move. i know the market doesn't like it today but i think it's the right long-term more for companies to raise capital when stock prices have gone vertical the way some have gone in recent weeks. >> rich, it's tip. of -- tim. i agree. they should be out there i will make an argument that viacom no one wanted until

streaming came along so i understand the dynamics. help me understand the story around this was disproportionate portionate amount of move in the stock. >> look, i think -- look, i don't think viacom was moving up purely because of reddit i think we seen it with amc. when you look at viacom, people were excited with the momentum, the machine took over and you see it with a number of stocks dramatically up. in our mind disney has incredible content streak. look at falcon, and -- more incredible content. and since disney plus you see viacom and discovery outperform where you scratch your head, like, how is that possible when you look at the relative content prowess. so i think this is sort of the market resetting something that shouldn't have happened and sort of resetting the relative stock moves of these companies

>> rich, news out of disney maybe two days ago, i lose track of time, didn't go well for amc. are you surprised how fast your call on amc is coming to fruition here, i think amc closed at $9 today. >> look, you all seen, your parent company, if you look at 23 nbc universal pioneered cutting window down to as little at 17 days paramount going 30 to 45 days before going to paramount plus warner 40 to 45 days on movies next year. disney is condensing windows the movie world is changing. you're still going to go to movie theaters for years to come but won't look anything like the past it will be much smaller

businesser, reserved for huge blockbusters that come out, maybe 15 a year, but i don't think going to the movies is going to be the same activity. the underlying cash dploe is what the retail reddit traders don't understand amc will essentially never cover its get if debt if they don't have the cash flow to get back to where they used to be even if the movie business comes back to where it was in 2019 as you point out all signs are we will have a very different movie business in the future than in the past. >> rich always great to speak with you thanks. >> thank for having me on short notice. >> rich greenfield of light shed where do you go. >> i agree with rich, i think a lot of things got way ahead of themselves discovery went from 21 to $70 saul jus --

all just because they had discovery plus they probably priced in several other products s of as i think about it where is the money going to go it's going to go to producers of content. maybe disney is a play, maybe. i have always said and will say it again, i think you buy l.a. real estate. >> or virtual real estate. coming up. gamestop to the moon one analyst uped the target by more than 1,000% and later, crypto cars, you won't believe what you can now buy with your bitcoin, much more "fast money" in two.t#

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welcome back to "fast money. jefferies out with a very figure call on gamestop, upping the price from $175 from $15 a share. so overnight she went up 1 -- $160after earnings release which was underwhelming. i read through her note she switched from price to sell

multiple and took her basket of stocks in her coverage universe took out outliers in terms of multiple like a zillow, et cetera rkts found an average of 4.2 and applied a 20% discount and came up with $175. her basket included names like chewy and e-bay. do you think gamestop business is only a 20% discount to a business like a chewy or e-bay >> yeah, listen, i don't think so this is a stock that i actually liked at around $20. i thought the worse was behind them they were moving to digital. they have e-commerce at 30% of sales. so things are moving in the right direction. the way they're getting to the multiple and comps using for the valuation, i think there's a lot of risk between here and that point for a stock that typically trades at less than one time sales. this is not for me at this price. >> yeah, tim >> yeah, and stretches into

affiliated platform revenue, you know, like add platforms, marketplace -- >> ntf and virtual worlds. full circle. >> right so, i find it a huge stretch and, you know, look, going from $15 to $175 or whatever this move was, is really tough to explain. i'm not sure why anyone would do it it's a big risk as an analytst to put it at 20% discount to companies in a totally different line of business just because they have online business. saying 50% of sales that were close ready going to automatically go to digital, no problem, we can close stores and now this will be just online again, in-store scales that were physical, that were not digital,

it's frustrating to hear this, honestly. >> right let's bring in mike who spotted good options on gamestop what did you see, mike >> i mean the unusual options activity on gamestop has been nonstop really right now we're seeing the options market implying a move of $65 higher or lower, that's 54% of today's closing stock price by april expieration, three weeks away, and moved today so maybe that move is conservative but the actions expiring in april were believe it or not 800 calls so people seem to suspend disbelief and are willing to bet this stock could move even more sharply to the upside than it has already this year, which is pretty remarkable. >> mike, thanks for that by the way gamestop is doing a secondary, jeffries is on the deal there's a wall between

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news alert on possible bitcoin etf. bob has the details, hey bob. >> hello, melissa. good news is fidelity announced they're getting into the bitcoin etf business, bad news, so is everyone else. there's a very long line of companies that announce they want a bitcoin etf soon. they don't have one. nobody does yet. we had recently scarmucci announced getting into it, morgan stanley wants to do one, wisdom team wants to do one.

van ek has filed for bitcoin etf. s.e.c. acknowledged the receipt of the application a week ago. that means they now have a legal obligation to give a ruling on the bitcoin etf to van ek they have 45 days to accept, reject or extend the application. likely they will extend it, everybody's getting into this race >> bob, thanks for the latest news in bitcoin. i thought he'd say you got to watch grayscale bitcoin trust. i imagine there's no reason to be in a fund you are paying actual fees when you can be in a etf if there is one that will minimize the fees to be investing on just bitcoin the asset. >> and a lot of that gray scale bitcoin trust is trading at preium i expect will collapse, we've seen that, etf, you're

right, lower cost, no premium to nav is likely to happen. what you're seeing here is big players making a bet on a changing of the guard at the s.e.c. and they're making a bet that sometime in 2021 that we're going to get an etf in the u.s there's one in canada that's been going gang busters, you can get it overseas. i think very, very soon, probably q3 or q4 this year you'll get a bitcoin etf. >> final for the final trade, tim seymour. >> fedex, big numbers, great valuation at 6% discount to s&p and tnt integration behind you, love the mangumins >> brian kelly. >> for me. buy mp take advantage of the weakness of rare earth play. china/u.s. negotiations didn't go well. >> weakness on the back of the secondary. jeff mills. >> talked a lot about leaning

into cyclicality, 3m is the way to do it >> lamarcusguy adami, the real t the virtual one. >> good thing show