liz: let me throw it to scott shellady in chicago. ing why isn't that a signal to you that there is a real opportunity for a big rally with silver? >> well i think there's a bigger picture here. we saw silver off 36% this year. to sit in the chair not to get long it after recent bumps we've seen in august you might think that is a little bit after mugs game. the reason silver goes up, number one, store of wealth with inflationary period. you seen cpi, ppi. one thing qe has proven it is not inflationary. we're not seeing inflation that all experts have forecast. number two, it could be something we store wealth in times of like armageddon, store of wealth in really bad times f we really have armageddon i put money in led for bullets, not silver or gold. i don't think the end of the world is near and that's why i'm not getting long silver and i don't think we'll see inflation anytime soon. big picture tells me this. we're headed for deflationary times. $20 silver and 1250 gold. i think those are very expensive for precious metals. i don'

scott shellady joining from us the cme. let's start with scott. the price action was tentative and a little weak. what do you hink? >> i think actually, funny enough, i think tomorrow will be the big story. after we see earnings today. we have the ecb. they will need to be ones that really help us out of this problem. if draghi doesn't do anything and market action was they think he is going to, but if he doesn't, i think they punish the equities. i think that makes non-farm on friday a non-event. david: joe keating, i was mentioning some big names that pulled back more than 10%. boeing company, 16% off recent highs, intel, 11%, cisco, 13% off, amazon 14%. they go on. ibm, 19% off their recent high. looks like bargains in the market. do you see it that way? >> i do, david. the problem was that the market was clearly overvalued at year-end but the backdrop is still very constructive. the economy continues to grow. the fed remains very accommodative. corporate america continues to return a lot of capital to investors in share repurchase and dividend

joining us from the floor of cme group-- alan knuckman and scott shellady are here for traders unplugged. good morning guys. round number 1i spy. the government is warning some banks to watch out for high risk employees. what banks are you eyeing? alan: what's weird about this is who's watching the watchers? the article was mentioning bank of america and wells fargo. when i first started to do the analysis i was looking and thinking that wells fargo would be a better buy because now with interest rates coming down that's gonna help their area where they were successful as far as mortgages. but looking at the analysis here, wells fargo i see going up 12%. i see bank of america going up 8% after having a big leg up. so if there's no gun to my head, i'm not gonna pick either. i'm gonna pick xlfthe whole financial sector. it's gone from 18 to 22 up to 26another 25%. i'm sticking with it. stick with the banks. scott: the ticker that i'd like to keep a watch out over this whole thing is the ticker i-r-s. which means that i think that the government should be looking to themselves before they l

ready to kick this show into high gear-- alan knuckman and scott shellady join us from the floor of cme group for traders unplugged. good morning guys and here's topic number 1... bonkers banker? - bac analyst reaffirms tesla target at $65 as the stock drives toward 300. is he going in the right direction? alan: that is an example of not being able to take a loss.he was wrong, they asked him again over the last couple of days if he still believed in $65. the stock's at $260all time forever highs. they've revolutionized not only cars but a number of other things. i think tesla is not where i'm looking to make the money. bank of americawhere that guy should not work anymorelooking for that stock to go up another 15%. scott: alan prefers the bank of the ukraine. revolutionary is the word alan usedi'll say it's a pioneer stock alan: that car goes faster than the bmw m5. scott: i'm about to agree with him. my definition of pioneer is a guy with a coonskin cap, facedown in a puddle of water with an arrow in his back. so, i'm not gonna say 65 but i'm agreeing with him that it's gonna go lower.

scott shellady of trean joins us now for the lowdown on the market. good morning to you. >>good morning. >>with the jobs number coming out on friday stocks seem to just want to sell off. what do you think scott? >>yesterday we basically settled kind of flat. i think what is really important is today and whether the ecb comes to our rescue. the hope pushed bonds lower and those yields higher thinking that something might be done but if we don't get some help todaywe need some help from our partnersboth europe and asia. i think they punish stocks and it could make tomorrow's non farm number a non-event. so keep an eye on the ecb today. >>we will. what about your protection plan in case that does happen? >>we're bracketing that 10 year rate between 250 and 290. we've breached that 260 level. we got to 258 a couple days ago. so when we get up to these levels we're looking for puts to be purchased and also calls. so we're lookingto bracket our position around that 250-290 rate yield in the 10 year and that something that we're gonna play for the short term. >>the march contrac

joining us from the floor of cme group, alan knuckman and scott shellady here for fresh round of tradersed... at the sound of the bell let's roll with topic number 1...party like 1929? the stock market is behaving similar to what was happening right before the great stock market crash in 1929. should investors run for cover? alan: it is very eerie but past performance is not indicative of future results. i'm not afraid until the customers get back in and no one's afraid of the market. it's nowhere near like it was in 2007. people are still outside this marketplace. scott: it's disengenuious to lay a chart from post qe to pre qe. but you're overlaying a chart with a 33% return versus a chart that went up 150%. that's not fair and it's technically incorrect. alan: lincoln had a secretary named kennedy and kennedy had a secretary named lincoln. angie: topic number --2 nfl commissioner roger goodell earned 44 million a year....fair or foul? scott: alan sneaks these questions in all the time because he's a wannabe athlete. and my answer would be if you don't like it, don't watch. if you don't

alan knuckman and scott shellady here for traders unplugged...good morning guys. topic number one--down january. january was the first down month since may of 2013. what does this say for the rest of the year? alan: looking at the dow stocks--the dow has been hit harder. it was down 5% or so. it was up last year obviously but didn't participate as much as the nasdaq. there are a lot of dow stocks that are at some key levels of support--coke, home depot, boeing. there's a lot of these stocks that you can look at from a risk-reward level. i think they have more upside here in the future. scott: i agree. i think by the end of the year it might be bruised and bloodied but i think you're gonna see some positive returns. i do think though that the economy is not doing as well as alan and his cohorts think it's doing. we will see some other stimulus other than qe. qe will be unwound from the taper because it's a bad economic policy but not because the economy can handle it. alan: 10,700 is the level to keep an eye on in the dow. angie: topic number 2--"pop" corn. we've h

alan knuckman and scott shellady. they love this segment, but hate to be wrong... to have you on the show this morning guys. let's get you going with topic number one: guru gains-- warren buffet made a $1 million dollar bet against hedge funds. is it better to follow buffett, hedge fund money, or just jump into the s&p 500 and hope for the best? alan: well his bet was that the hedge fund couldn't continue to over perform the s&p and he was just gonna go into the spiders etf. it depends on your time frame. if you have unlimited money and an unlimited time frame you can do what warren buffett does and just be in the position for the long term and wait for the market to eventually climb higher. otherwise there's a timing factor involved for the rest of us mortals. scott: it's called a modern portfolio theory and money management. generally it's a 20 year time horizon-- this is a little bit different because it's 10. but given 20 years it's been mathematically proven that you just can't pick them-- it's better to be in the s&p if you have that time. if you only... alan

let's check in with scott shellady on the floor of the cme.articular caught my attention. she said the economic data, particularly consumer spending had

let's check in with scott shellady on the floor of the cme. one thing in particular caught my attention. she said the economic data, particularly consumer spending had softened since she testified before the house committee. that was just two weeks ago! things gotten worse in the past two weeks, does that make you nervous, scott? >> you know what? it is not making me nervous because i think i felt this way for two or three months now ever since retailers came in weak over christmas. here is where we sit. we have a fed that will be trying to taper. they're tapering not because the economy can handle it. we're in a soft patch. they will taper because it is failed economic policy. if they stop the taper that send another bad signal and market could tumble pro there, that reads into the fact that the fed sees something worse than we actually think. so we're in a very precarious spot right now. melissa: so what do you think she should do? >> well, this is what i think is pogue to happen. i think we try to put qe out of there to inflate our way out

here now on how high it is going to go both from the cme and senior vice president scott shellady andrice futures group, phil flynn and also a fox news contributor of course. let me start with you. call pers list is half as long, fruits, nuts, vegetable, dairy, you name it. it comes from al fornash. this is huge deal. >> this it is a huge deal for couple reasons. with very a family farm and get dry and space out seeds and demand for water is less. california is unique. they get everything on trees or vines. the damage is geometric. half a drought things are cut in half. even if you get rain then, the year after that it is down by 90%. so we need a long legs to get back where we started when we have a drought this severe. melissa: that is really scary. it just means prices to everyone going up higher. i think what happened to corn in 2012. didn't we see a 60% jump in price there, phil. >> we did. tell you what, melissa, the best way to worry about what is this impacting. think of your salad. everything is in the salad is being impacted because this is what they produce. i don't know if

all right, scott shellady. up 200 points. i say it had a lot to do with that debt deal. no strings. for the president. do you agree with me? >> i agree that's about 35% of it, stuart, i think that would have been the icing on the cake and also janet yellen's q & a, not just the text released when we talked earlier, but her q & a gave traders comfort, it's full steam ahead. no changes, she didn't deviate from the plan and now we know we have a got in front of us, i think as the market told you on friday, we had oversold conditions where people are now catching up and yesterday's volume tells me that traders short to investors had to get back in and the sellers had to hold their hands back. stuart: thank you, we're about to hit 16,000, i think. the dow is about to open and closed at 15,990 and small change yesterday and now we're up to 50-- there you go, 6,000 on the button. we crossed it yesterday, but now we're opening from 16,000 and away we go. the farm equipment maker, deere, they make my tractor. strong-- what is it, strong sales or profits, what was it? >> profit. i'm going wit

let's bring in scott shellady, shall we? he's in chicago and he's going to answer this question. ant you to answer this for investors -- for traders like you guys. i want you to answer the question for investors. is it time to buy now, get in now for the bargains or do you think there's worse still to come? go. >> i think there's worse still to come and as these traders behind me tell you, be careful about trying to catch a falling knife. a taper would be negative stock and now, we're also starting to have some folks start to talk about this, we're tapering because we're getting rid of a bad economic policy that just hasn't helped the economy. and either one of those scenarios, it's probably not good for equities. we're going to need to see better news and friday would be a great start, but it's the start looking better as far as economic indicators go before you want to pile into this market. stuart: so don't catch, don't try to catch a falling knife. that's the bit of the answer i caught there. the bell has rung and they're starring to trade. up 10. and i'm going to pose the que

scott shellady is with us. what do you make about janet yellen? she will do, do her best to say absolutely nothing. do you agree? >> you're a mind reader, stuart. safest thing would be not to show up. that would be the safest thing to do. she can taper the taper. number two, continue down the same point. number three, stop it. or number four, "the nuclear option", add back more stimulus. none of those will do well. it will be interesting to see how she answers questions. the opening bell ringing] stuart: you're right, scott, the big deal comes in the q&a. she will go with continuity with ben bernanke's policy. but will not do a timetable about cutting money printing. you're right, scott, it is the q&a that is the big deal. we're off. we're running. the opening bell has rung. trading has begun. it is tuesday morning. the dow is opening ever so slightly higher. a very modest uptrend in the very early going. let's get to individual stocks. google signed a big ad deal with comscore. that is a company that measures the digital world. it will let google

scott shellady will be coming to us shortly. the news background to the opening of the market today. we've got reports from china of something of a slowdown there. we've got reports from japan, in the exporting as much. and we're looking at the american economy, which shows signs of weakening in part because of the weather in the current quarter. so, a worldwide slight weakening, that's the back drop for what's going on today and plus, virtually zero price consumer inflation, we've got 1.6% over the past 12 months. where is the inflation? the opening bell is ringing and we're off and running to the upside, just, not much, but just eight points higher from the dow jones industrial average. let' get to the stocks that are moving this market. tesla, that stock rallying to new highs as of right now. it's going to boost production this year, elon musk, charles' favorite innovator says deliveries of the model s will surge more than 55%. charles, it's at 213 right now. would you buy it at that price? >> you know, i wouldn't talk anyone

joining us now is scott shellady.00 jobs created in the past two months and your i know you're not happy about this. >> i'm not happy about this. there's two people i wouldn't want to be number one is edward snowden and number two, janet yellen. what is she going to do with what she's got before her, you can't taper the taper. and we've proven that free money is not going to make these guys hire people. they buy their stock back. i think that american business is telling us they're not quite sure of a recovery. they're worried about us slipping back and they don't know when, if there is going to be a recovery if it would happen. so we're in trouble here and i think it's going to be a precarious, two or three months coming forward. charles: we're' going to talk about yellen a lot in the show today, but is this a bit of stress. you remember how much ben bernanke complained about fiscal policy. if money printing alone is not going to do it the administration has to come on board at some point. >> we've got a deep underly

here comes that opening bell and come right in from chicago, scott shellady.ain this market just wants to go up, what do you say? >> right now that's the path of least resistance. we had a friday before a long weekend and it was a snowy weekend so we didn't have a lot of folks in normally so the quiet markets levitate and the weak shorts push the market higher. it's going to continue today and help from central japan and they're going to take the market, but we're not going to see a ton of volume. stuart: we've got it, thank you, scott. i'm looking for it and right now i see the dow opening with an uptrend. a 7 point gain that isn't much, but the dow is up at 16,162. and we have forest lab with cash and stock, and both are up big time. huge gains, actually. charles, you're starting early this morning. charles: yeah, yeah. stuart: welcome very much indeed. hold on a second, i want to know two things. what does forest labs do, what do they make and what does actavis do? >> they're both big time pharmaceuticals. the more interesting things, two things, the consol

shot shellady from treen joins us now. scott, always a pleasure. good to see you.rmally a good day for equities. we're only up 40% of the time. >> no, it's not going to be a good day today. if anything, we'll probably see very light volumes. we have a three-dee weekend and the east coast got slammed by some weather. we'll take a step back, digest what yellen had to say. and i don't think we're going to see any inflation. i think that's been the case generally. i think you saw yellen abandon that 6.5% unemployment rate. so it's all about inflation and i don't think the u.s. is going to see any. so we're going to get rid of this quantitative easing through taper, but not because the u.s. economy is strong. we're going to do it because the u.s. economy is -- it's a bad economic policy and the u.s. economy is weak. >> what does that mean for asset prices? >> well, i think we go back to that situation where we're going to taper and we're going the taper not because we can handle i it, but because we don't like the idea of qe any more. the u.s. economy is not responding.