. >> targeting the 65 to 62 that's your support level naerm. it makes a lot of sense. the largest hold cigarette ge. massive underperformer. down 4.5% on the year. i think there are some other things going. ml is pretty codsy with the new white house. your point about cat is a good one. you may want to look at specific names like that. cat is expected to have its fifth annual sales decline this year. fifth. as it goes higher and higher. to me that one is expensive. if we don't get the infrastructure plan in place that thing goes down. >> they got 17% of their revenue from domestic construction equipment sales. that's really not just the way you want to play the infrastructure bet. >> think about how bad it was and despite the headlines there is no trump trade. if a trump trade was three session that's not a trump trade. it never happened. and now they are starting to carry it again, transports are acting heavy. not a good area to be in. >> fake trade. >> options trade is no fake trade. the beauty in this why i'm looking at xli, vix is low. indices are low. 70 cents is

we don't think they are likely to make a big content acquisition in the naerm.ve shown some interest in content. we think they will pursue some organic original doesn't as opposed to do something very large. >>> steve, why is that? apple has never bean buyer. >> very focused company. they know what they are good at, what they aren't good at. they buy technology that fits in with them. they are a contents distributor in the past and not at that creator. not saying they won't do it but they will move cautiously. >> when saying the service is under valued you say it deserves more of a premium like paypal. >> paypal because it's similar to apple pay. the company has got a fairly similar margin and growth rate relevant to apple. we argue you shouldn't look at services privately, very much tied to the hardaway. you don't cell phone you don't get the service. the company believes service is not fully appreciated by analyst. if you put a paypal on what we think the earnings of services are the stock is at least 10% undervalued. >> in terms of paypal could that possibly