this is a merger that would happen because of strength right now. >> let's get to jon najarian. how do you see this at the prop desk, jon? >> got to agree with gary on this one because you put these two together, you just took competition out of the market. that's another reason your thesis holds up and the airlines go higher, quite frankly. >> you've taken two awful airlines and are going to make an even worse airline out of them. >> that much is true. but you're taking all the competition out of the space, dennis, which is what i'm looking at. >> sure. >> although we've not seen the justice department step up and stop any of this kind of stuff. so i'm not surprised. >> they're still making a loss -- i know now you've got what was it, spirit airlines saying they're going to charge people $45 to take their handbag, jon. but this industry net net is -- >> no pocketbooks, jon. >> i missed that. >> well, the airline industry is still making a loss overall as the head of amr told me last week. >> look at the seats, the capacity. that's what gary's been talking about all week. these g

the a-team tonight, joe terranova, gary kaminsky, karen finerman, and jon najarian. this time it is different. >> personal. >> tonight we're going to debunk some myths, or wife tales, if you'd like, that might otherwise mislead you and prevent you from fully profiting from markets that continue to gain in confidence. the rules of the game are changing, and you need to know what the new rules are in order to make fast money. gary, let me kick off with you. >> great, simon. no, look, as we've pointed out here many times, as this notion that when interest rates are going up it's bad for equities. and that is something that the general media likes to make people think. and in fact, i think we've pointed out a number of times, stocks actually do quite well when interest rates are going up, assuming you're in the right space. >> let me introduce the chart of the day, if i may. courtesy of briani associates. this chart plots the six months before the rate rise and the six months after a rate rise on 11 tightening cycles. the yellow line is the average point. and you can see

you know jon najarian from option monster.com, and a cnbc contributor, and jon, anything that had to do with cdos is to the downside. the rating agencies for example, and mew oodies to the downside,d do you think it is necessarily fair and i know you are not into the policy side of things to paint a broad tar brush against the rating agencies at this point. >> well, i do, bob, because of this, when you look at what happened here, and of course, the firms that put together the cdos pretty much knew what the game was and they knew they needed high value mortgages up on top to basically offset the very high default rate mortgages that were down below, and they gamed the system, if you will, by doing that. and then the ratings agencies looked at this and blessed wit a aaa rating, so that is what michael lewis talks about in his book, and certainly how a lot of the guys made a lot of money, so that hit the rating agencies in 2008 and 2009, and they were recovering from it, but today's action says that if goldman sachs went to, for instance, moody's s&p and this is alleged the complaint th

let's get a "fast money" trader's perspective, jon najarian, monsttrader for monst trader.com. this trade will tell you the optimism behind amazon.com going into the earnings. >> well, that is the thing since the apple earnings quite frankly, and that is just that there is a unbelievable surge of buying in the things on the ipad, so in particular, take a look at netflix on the move that stock has made, and full disclosure, i have a position in netflix and not trying to talk it up, but it blew to the upside. it was soft, and the more people read into the proekjection of t ipad, it is on the highs of the day. same thing could happen with amazon.com. does this kill the kendal? yes, it does. i have said it over and over that the ipad is a kendal killer. >> well, that is a concern clearly. >> well, they don't make money selling the kendal, but the books and the rest of it on amazon.com. so this and the fact that there is another device out there causing people to be aggressive consumer of visual media on these devices, that is huge for amazon. >> and they continue, jon, to take the

and at the prop desk jon najarian. and only one of them is wearing flip-flops. every reason in the world to sell off and all the bears could muster today was less than a 1% drop. at its height single stock stories continue to quietly dominate the tape. have you noticed? we're going to bring those to you tonight. let's kick off with the word on the street. we kick off with special guest dennis gartman. a violently mixed day on commodities, dennis. >> a violently mixed day on commodities. you had to look at which ones were moving. crude, for example, got beaten up. the contango came in, very interesting phenomenon. crude oil down about a dollar at one time. on the other hand gold up, what, 15, 16, $17. the grain market rallying very dramatically. copper then gets crushed. so you look to the commodities, if you looked at each individual one, something strange was happening out there, but it was violently mixed and that's not something that you say very often. >> well, what wasn't strange was that the greek market led the dollar higher and that's something i think w

jon najarian. and he pointed out properly that you are seeing the activity in palm. and that's why jon got on board. but with palm here trading six bucks for me i don't care if palm goes to 20 bucks. i want no part of this trade right now. the reason i want no part of this trade is you're basical basically -- you're not investing in something. you're placing a bet that possibly someone's coming in and they're going to pay way beyond six bucks. to me you've got a better chance basically at caesars palace. i want no part of it. >> it would be interesting to see what whitney tilson has to say. my sense is shorts were adding to positions today. palm might get bought, but it might get bought for $3 a share. you've heard of takeovers. well, this is going to be a takeunder. who knows? but i think this was an opportunity for shorts to layer in some more positions. >> we've seen this 234 palm before and we had no bid in the market so you've got to wonder if someone's going to step up at this time now that the stock has actually run and whether palm will run out of options at s

the ambassador, jon najarian, and -- it is fantastic to see you. >> welcome back. >> thank you. it is great to be back. let's get straight to work. we got a lot of calls, namely from citi, a lot of the coal -- also talking freeport mc -- stocks you've got to be careful trading because of valuations. what do you make of this call? >> i think it's a little late to the party. having said all that, one of the things you're seeing, you've seen it in ore names. analysts now have to price in significantly higher underlying prices. you're getting follow-through in coal prices. you can start to price this in. that has a lot to do with what we saw in the -- peabody selling some coals in india. i think you're seeing also m & a activity drive this space. be very careful being short here. in fact, i think valuations will probably go higher. i think citi is a little late to this party. >> mel, in clf specifically, a name na jarj and i have been talking about, if i ron contracts fall the way they plan, we're looking at par or par 105 price ing. the stock is up 75, 76 currently. as tim was sayi