steve grasso stepping up to the t ate to pitch his stock tha did just that. find out what it is when he delivers his fast pitch. >>> welcome back to "fast money." time for an instant replay. back in november, steve grasso stepped up to the plate to pitch avis budget group. >> this stock has a lot of room still to the upside. i remain long, if you're looking to have this type of a gain going forward, the car is the place to be. >> and since that great car avis shares are up 40%. so what do you do now with the stock? >> when i part started talking about this stock, it was probably around the mid-twenties range and we sat at the desk at 35 and i said it was a double. looking at it now, it's trading 47 and change. i still do believe it gets to $70. still hold it. i'm still long on it. >> you still think it's going to get the number -- >> sure. >> we're going to go to 70. >> for a rental car company in the age of uber? >> forget about the multiple. if you look at this. the many people believe it would go from 18 to 47 >> not me. >> i know. the point is they right

. >> getting to the closing bell exchange today, steve grasso, and rick santelli from the cme in chicago rick, starting with you because just a couple weeks ago, we were discussing how we felt yields peaked for the year already. you've been off for a week they surged. what happened in your absence? >> go back in time that's an important point. they did act spongy, fell out of the range we spent a lot of time in, but, to me, one key whether we lock in the high yield of the year, in february of 2.95 that we took out friday and today, and that was the 2017 high, which was 2.63 fact of the matter is we got down as low as 2.73, 2.74 close, so within nine basis points. if we would have traded or intersected under that 2.63, i would have signed a contract saying my fellows locked it in for the year, but that did not occur. there's little doubt at some point we're going to go through 3% i think mr. dunlap had a good point with regard to how much risk you take to short the long end and long the short end looking for steepening or you want to go the other way looking for flootenning, but i frame i

keep watching it every day thanks, guys >> thank you >> steve grasso and steve anderson >>> 49 minutes to go until the close, all major indexes weak to date we have fractional gains now for the dow and the s&p. the nasdaq is lower. also note, holding on to slight gains of the week, big selling 1.5% >>> don't move, the "closing bell" is just getting started. >>> next up, the big move for oil, jpmorgan's man on the commodities is with us next as president trump takes aim at opec plus, much more on the markets as we look at profits and protection as rates rise and where do stocks go now as many top market watchers say, we've come to a oscrs roads. this is the "closing bell. you know what's awesome? gig-speed internet. you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, these houses! yes, yes and yes. and don't forget about them. uh huh, sure. still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party. >>> welcome b

. >> steve grasso says correctly, when the market goes down 70% of the under lining stocks go down with it. so i am not certain there are safe people will point to dividend paying stock we have seen on a number of pays where if you have a 3.5% dividend yielding stock, and the do you is down 4%, you have given that up. dividend is a cherry on top and not a reason to buy the stock necessarily. >> tesla shares dropping is musk a liability for tesla. if you are worried about this crazy market, relax, guy adami will tell you what you should and should not do right after this you know what they say about the early bird... he gets the best deal on the perfect hotel by using tripadvisor! that's because tripadvisor lets you start your trip on the right foot... by comparing prices from over 200 booking sites to find the right hotel for you at the lowest price. saving you up to 30%! you'll be bathing in savings! tripadvisor. check the latest reviews and lowest prices. >>> welcome back to cnbc special coverage tesla now down 35% elon musk has shown strange behavior on twitter. >> wild day for tesla

joining us by phone with more on today's action is steve grasso from stuart frankel, because he's on a beach somewhere. i told you you would end up trading on the beach what did you just sell >> i actually did last week so i could relax on the beach but i sold square, ali alibaba and -- obviously, bitcoin, blockchain has been under pressure. let's think about what's in the bull's eye in the target zone for this marketplace it's financials, it's tech, it's china-related. look at square then alibaba, which is anything china related and anything large cap tech is in focus so, that's the reason why these things are trading lower i wanted to clear the deck, so to speak, clear the deck and see where it is when i come back the bears only have a week or so to really dig into this market once earnings start, those taxes will flow through eps and you'll find out wall street analysts have underestimated what tailwind the corporate tax wind is going to be for the u.s. global - >> we're chuckling here. i was giving the crew a hard time how excited they were for earnings i want to bring them in. s

. >> steve grasso. >> big day for general electric tomorrow i am long. got long today i think you'll have more to the upside. the worst is out of the way. >> karen >> if it's good enough for tony braxton, it's good enough for me, all right. buying lowe's right here. >> is that get a duck or a target >> tim >> speaking of, altria. margins are better. they're involved it's a nice dip. >> thanks for watching meantime money. meanwhile, "mad money" with jim cramer starts right now. >>> my mission is simple -- to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to teach you call me at 1-800-743-cnbc. or tweet me @jimcramer has the bull finally met its match? will this market be laid low by a toxic mix of inflation and higher interest rates?

eastern time >>> let's get to the closing bell exchange today with the dow up 245 points, joined by steve grasso here at post nine, and rick santelli at the cme in chicago. steve, watching caterpillar closely, that's you, and hy? >> look at the correlation between cat and s&p, it's just a sector within the s&p. it's nothing to pay attention to correlation is close if you know where cat's going, you know where the s&p is going. >> because of the trade issues on the floor >> no. it's been for quite some time, so i would suggest you chart it and the investors watching now, chart it, see how closely they are together >> for one year? >> a couple years. look at the ups and downs, they are plugged in because of the world economy. throw in there now facebook and technology, you get the whole picture, the whole macro picture why the mark's doing what it's doing, and we have a u.s. envoy going to china we know rhetoric versus reality. softer on reality. that's why the market is what it is now >> earnings for most of the first third of earnings season, a lot of efts beat, but share prices are not performi

shaken off the positive results whether solid earnings joining us today tom liden, stewart frankel, steve grassorick santelli. gents, good afternoon to you all. steve, i guess the key thing is earnings yesterday beauing is a great example. dragged down by somebody else's earnings today able to prop itself up with its own ones. >> when you see the key thing is earnings, when you read that headline where it said 80% of the companies that have reported have beat, and the market really doesn't care about it. the market cares about what caterpillar reported yesterday that scare about peak earnings or margins being compressed. i think the market is trying to evaluate what multiple they're giving on this marketplace where they have so much unknown. whether it be trade. whether it be the real impact of taxes. this is all positive stuff and i think that the sellers are shooting first, asking questions later. earnings have been on as a whole on the positive. but the market's trying to price in have we seen, quote unquote, peak earnings. >> tom, i'll just mention a moment ago there's now 650 million to sel

joining us cnbc's michael santolli and steve grasso. netflix, it's not a tech move, but consumer discretionary >> that's right. more of a media company than anything else. >> that's right. it's not going in the new staples? >> no, in the new communications services sector. >> is it >> in a few months, netflix, facebook, and google will go into a communications services sector with the cable companies and leave technology to the microchip guys and the rest of it look, i think the muscle memory is strong in terms of the market getting back into the big tech names when they feel like anxiety is drained out of the tape overall, it's a very low key 1% rally today. i will say, it's also quiet. the vix is down. it's methodical. that could be both good and bad, but the s&p 500 keeps passing these little tests, and we're halfway between where the intra-day low wasin february 9th, and the all-time highs, so i think it's sort of earning back the benefit of the doubt even if it doesn't have it all >> steve, overall, considering the call from netfli

and more is jack and the chief economist and co-founder of the universal compute exchange, and steve grassoere at post nine, and jeff, chief investment strategist at raymond james. we watch the transports and industrials for dow theory and signs of bullishness you're not sure about the market retesting the lows, but do signals like that today make you think it's an all-clear? >> i don't know about all clear, but i do believe it's going to be very difficult for markets to selloff in earnings season it's an overwhelming tail wind to everything that's going to report, every sector, every space is going to pretty much have a tail wind whether it has a higher effective tax rate or lower effective tax rate a 21% effective tax rate moves the needle on a lot, and nobody's going to really get in the way of the bull while we are in earnings season now, you can say what you will -- >> bank earnings have not knocked socks off. >> the bank earnings are -- if you look at those through the prism of jamie dimon's comments sayi ining it was an extremely competitive environment and loan growth was not great,

this week even though we also have teches kind of come back to consider and we were talking with steve grassose of the markets moving through this phase >> i think that's the big question the markets building up a little bit of resistance to the headline shocks. because coming into today, i would have said that traders were almost tuned into the noise opposed to trying to tune out the noise. and today was a day when, by the way, the average stock way outperformed the indexes you mentioned the small cap index was up i think that's part of the theme of the market in this fitful way attempting to be resilient despite all those kind of policy swirling kus ining currents >> neil hennessey is also with us welcome to you, neil ian, let me just go to you this morning there was a lot of concern, of course, about what kind of strikes we might see in syria from this administration that said, are we now pricing for the possible outcomes there? given today's decline? or, you know, if we start to see missiles flying and some kind of international response, should we expect further selloff? >> yeah, i mean,