steve, what would you do with a stock like schlumberger? when you look at the one-year performance on schlumberger, it's up over 50% one month, kelly, it's up 34%. that seems like a lot of front loading based on inflation, based on where we're at on the political front, based on where we're at with chairman powell raising rates. for me i would sell the stock. and i'll give you a little more expansion on that. think about this is there going to be -- first of all, you know this better than anyone energy did nothing for five years. >> right >> now we're starting to catch a bid, and everybody wants to jump on the energy bandwagon. but, remember, this administration, right, wrong, or indifferent, wants to push green energy there's not a whole lot of places for an slb in their portfolio. they, by happenstance, created a heck of a rally because the supply/demand equilibrium was upset. but i think that needs to back off a little bit crc, that's a company that's focused on carbon recapture carbon sequestration, he said. so, if that's one that check

i don't hospital this show very much, but i do know that you've been talking about schlumberger for a while. it's been your final trade for a long time. so big shoutout to you, mr. adami. that trade is red-hot this year. >> tim has been on this as well, without question we both have been back and forth -- steadfast, but sort of take turns on the oih. by the way, i loved harrison ford in "e.t." one of his best roles. [ laughter ] >> literally since the spring of last year, so in my opinion oih needs to prove itself. i think it will. both on the verge of breaking out. morgan stanley recently upgraded halliburton. i think halliburton on the 24th, schlumberger i think on the 21st i think you have to stay with these trades here. >> yeah, tim, we'll go to you on that before we go to karen, because i know that was part of her zombie trade all four of you have been on energy and oil and gas before it was sexy and cool, all four of you deserve a shoutout foul up on that. the oih is primarily a bunch of others the reason energy is now an investment, not just a trade is that energy companies are

you bought boeing and you bought schlumberger i would note these are more cyclical value-ish-type playsather than going headlong into technology plays and this would suggest that you're taking advantage of the rotation out of technology and into other areas of the market that still look attractive >> i still own tech and i'm not being constructive right now my old friend, cash flow i love cash flow in times of volatility and every time they bought there, these are cash flow honey bunnies fantastic balance sheets and good places to hide in the weeds with 7% inflation. let's call that ticker 5.5 to 7% inflation. that means your cash is being taxed at 5% to 7% this year if you do nothing with it so where do you go you go with the cash flow and those are the names. i'm listening. safety safety fixed income is not an alternative. you don't want to put mono there. you'll get killed and that is the hallmark of this year. it's a good, strong balance sheet and another theme we'll talk about is europe i'm really licking my chops at some of the names over there >> you know, you're not the only one

>> schlumberger. i've been adding to it a billion three in the fourth quarter alone in free cash flow. i think it goes much higher. >> farmer jim? >> cgoldman sachs 1.2 times tangible book value. >> countdown to the fed is on. t "the exchange" begins right now. >> yes it is thank you. hi, everybody. an hour to go before the fed makes the decision is it still the rumor by the fact markets having the best day of the year, or could we be surprised to the downside in we'll get you the state of play as we await this afternoon's big event. tesla reports after the bell the stock down 10% this year musk might be back on the call we have a full preview >>> buy or bail. our trader has three stocks to buy and one to bail on it might surprise you. >>> we begin with the rally into the fed decision dom is right here. >> we're back in our normal spot i'm going to love this whole buy or bail or love it or list it. i know you like that one as well the dow industrials now off the session highs. up about 35 4 points tha

selective because there is vol within vol but owning is critical and then e is energy again not schlumberger but the entire energy space, if you look at brent, i think a function of supply and demand having really reached a place where both makes sense but that these companies are run for investors not necessarily for company management and growth at all costs. i think energy will be a trade for investors in 2022. not just traders so it outperforms significantly in '21 but i think you'll see significant flows here in '22. >> so live is tims now in 2021 karen's was wtf. which i thought was very funny walmart and tjx, so what is your acronym for 2022. >> my am ron imfor 21 is wtf and that is really disappointing and tim i'm glad yours is live, not evil, which is the same. so my is zombie. and that is zillow, which is we've talked about a lot i love that they got out of the eye buying business and i love the assets that they have left and i love the stock got crushed. so that is the first one the second one is the oih. i too want to have exposure to energy for all of the reasons that tim just s

crude, the commodity has provided a big 2022 so far for some very big energy names stocks like schlumberger, apa and phillips 66. i didn't mention those names rapidly, they are some of the top seven performing stocks on the s&p 500 along with discovery networks so far the worst performer of the six is up just under 19% six of the top seven this year are soaring in the s&p and they are oil and gas names. there you go >>> let's get to some of the other top stories. dish and directv are reportedly holding talks again of a potential deal according to the "new york post," talks are being pushed by tpg capital, which bought 30% of directv from at&t in a deal last february the post says the dish dealer seems to be dragging out a final deal as he demands significant voting rights and a say in key decisions. the company's attempted a merger nearly 20 years ago but were stopped over antitrust concerns and then were quietly warned about the deal by the justice department a judge is allowing a lawsuit against met ta to move forward. the agency says meta bought competitors in order to maintain illegal m

marathon oil, schlumberger, all moving up. the growth trade, technology, still struggling at this point even megacap names xilinx, nvidia, 30% off the highs for nvidia microsoft reporting tonight. apple's off the highs, but still to the downside. you can see this pro-value, pro-innovation and anti-growth trade. the s&p value ive has seen some very big block trades going off. somebody's making some bets in value today and the agricultural fund this actually consists of agricultural products then a lot of people are shorting the nasdaq 100. the pro shares ultra qqq and of course betting they'll be going up that's ultra on the other side of that. so the important thing here is a will the of bets one way or another in some of the growth versus value how about the problem with what we're seeing right now modest earnings growth and the fed withdrawing liquidity. usually the pe ratio comes down when you start getting tighter liquidity. modest earnings growth, tighter liquidity. implies subpar returns for the potential for 2022 >> tha

capital discipline and they're providing more buybacks and dividends and that sort of thing and schlumbergeruch levered to the oil price and activity and they're a miniature technology company as they continue to acquire technology and margins have upside so i like , the sector and the call and i like to diversify within the energy sector >> hey, pete how about the health care call you like jason's call? >> yeah. absolutely i do, and he makes a lot of good points that going forward it's not just when we've been going through the last couple of years and all of the surgeries and electives that are out there, so yeah, healthcare make as i lot of sense i have a lot of exposure there and energy was my sector pick, as well and i like what he's talking about with chevron i don't know how many years i've owned that one and to steph's point i like the beta names because with you have three times beta in something like a marathon or devon or oxy along with chevrons that gives you a lot more play in the emergency space, and i still think oil is going to 100 >> wow okay u veill follow that. yoha unusua

. >> schlumberger.ree in the fourth quarter alone in free cash flow. i think it goes much higher. >> farmer jim? >> cgoldman sachs 1.2 times tangible book value. >> countdown to the fed is on. t "the exchange" begins right now. >> yes it is thank you. hi, everybody. an hour to go before the fed makes the decision is it still the rumor by the fact markets having the best day of the year, or could we be surprised to the downside in we'll get you the state of play as we await this afternoon's big event. tesla reports after the bell the stock down 10% this year musk might be back on the call we have a full preview >>> buy or bail. our trader has three stocks to

now in terms of energy, it is uninvestable okay when you take a look at slob, slb, schlumberger, it's back to where it was in 1997 it's tradable and not investable and never has been investable and it won't be. no way can you compare that to the high-valued companies -- i don't mean value in terms of appreciative, i mean 100 times revenue and 50 times revenue it's not the same. so i'm staying away from those and in fact, the stocks i've picked i'm i've done a terrible job and i find it a very, very difficult market to navigate guess what it's down today. facebook's up and i bought more last week at, what 300? okay so i'm making a little money i fwraut interest more cleveland clips down here. well, i bought more phenomenal company. i've met with almost the entire margs market, stocks are down today and i'm finding it difficult, until people realize they've not seen this cycle before when dwru have a $price increase and it is not unlimited, but more than we've seen in the last ten, 15 years and a lot of people in the market don't know how to deal with it and i'm having problems dealing

i like auto and contactless payments also they're buying back top schlu schlumberger, just listen toabout a super price increase in a tight market mcdonald's, i love this. this is the defensive name in my portfolio i'm making a big bet on >> steph, i appreciate it. we'll get ge next time there's stuff to talk about for certain there. i've got to run. >> there is. >> i appreciate you popping on with us. >>> i promised you tom lee yesterday. i'm going to bring him in now. we had technical issues yesterday. he's with us now on the phone. tom, can you hear me all right >> yeah, scott, how are you? >> good, thanks. did we bottom yesterday? what are we supposed to do as investors now? >> well, as you know, when selloffs start, you never know when they're going to finish but we've already seen such a big reset, that i -- you know, i think unless someone thinks the economy has turned, and the bull market is peeking, and that's not our view right? these are great entry points for people because you've got so many stocks down and yesterday had the feel of bet me out of everything, which has be

devan has a -- i find it hard to do the service stocks, because they're doing much more less shall schlumbergerll count is not as important, david as, say -- that's fine, go ahead, play that game for a day. what you really want to do is buy the companies that have decided to have discipline, return capital, and the best cases, devin, a $30 breakeven. that's also the case, to a certain extend, to the majors as well as they now look towards a carbon neutral future. that's a lodge ways out. citigroup, with this 80-page climate report, but the key takeaways is it is going to aim for emissions from the company from the loan portfolio to drop 29% by 2030 from 2020. jane phraser saying our intention is to work with all our clirchts, including or fossil fuel clients, to develop credibility plans and transition to net zero together we'll also encourage the responsible retirement of carbon-intense assets rather than the divestment as part of these transition plans we will city to assess our client relatesships before turns to clients' exits as a last resort >> now you can read it. >> gary gensler is goin

companies out there like kimberly clark, schlumberger recently, corning. it is a tough spot right now. you come out with good earnings to report for q4, but my goodness going forward the projections are really tough you don't want to to predict and overpromise and fall flat on your face. stocks we still like and we're adding to here, with this pullback you have a chance to see we're uncertain about things going forward. gives you a chance to deliver better results on the subsequent quarters once they comb. the visibility is really tough. as shana says, despends what policy out of d.c., how that affects inflation. the supply chain issues we have to get these things worked because i think it leaves a things murky in q2, q3, by the way, really quick, have tough comps versus 2021 coming up. jackie: that is a really good point. guys, we'll have to leave it there. my thanks to both of you. i want to switch gears, we're getting reports that supreme court justice stephen buyer will wry year will end after the current team. he is one of the three liberal justices.

so energy over software is a pair that we love here names like chevron, schl schlumberger, these areconsolidated over the last couple of months as oil came in. one other point on some of the speculative parts of this market, whether it's solar, ipos, bitcoin, all of these are in bear markets. so the speculative phase of this cycle is probably behind us at this point all of these peaked in february, march, april of last year. i think it's unlikely they come back with the same vigor that they had 18 months ago >> emily hill, thank you very much for joining us. chris vrer rer verrone always go see you. >> thank you. >>> we're just getting started on the second hour of "closing bell." up next, more on energy when helima croft joins us to talk about today's opec meeting and later, the ceo of redfin we're back in two minutes. your dedicated advisort f, will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. every day in business brings something new. so you can

new high list, all energy stocks you have got chevron, you've got schlumberger, halliburton, marathont's something you want to keep an eye on here. in terms of where we are, i call this the hope rally today. we have a fragile stalemate with the market right now the market's pricing aggressive rate hikes, but bulls want evidence that inflation is peaking and we don't have that yet. we don't have the data to support that kind of idea. so it's very murky you can see this looking at the earnings situation supply chain inflation story all over the place in the earnings commentary pricing was up 39% that's an amazing number the profit doubled they are a winner here whirlpool had higher prices but it was off set by $500 million in inflation costs mccormick, same thing. partially offset by pricing. then component delays. lam research, revenues missing, guidance below consensus you see the commentary is all over the place there is no real bottom yet in inflation and supply chain problems that's right right now the earnings situation is a little murky. take a look at the trends here we have had

oil fuel services companies have been the top performers with halliburton and schlumberger up 30% forry. upstream players also getting a boost from higher oil and gas prices occidental, eog, and hess up more than 20%. majors exxon and chevron seeing gains as well. exxon hilt a 2 1/2-year high ahead of tomorrow's earnings report chevron hit a record high last week but has pulled back since after the profit missed estimates last quarter and despite this outperformance, goldman saying investors should boost exposure, noting energy stocks are an inflation hedge. guys >> pippa stevens, thank you. >>> and oil prices are higher again. $88.32 wti. do you still want to be in this group after the strong performance last year and to start this year? >> yeah, so i think i have gotten the performance that i would have liked out of the sector and i think that there is some short term run to room part of that is demand picking up post covid. people getting out there, driving, flying, potential geopolitical issues impacting the price as well. i'm more interested in the longer term alternative energy