david tepper among them. the market is the feds see the economy stronger in the future. their forecast shows they will wait until a lower unemployment rate closer to 6% than 6.5% to raise interest rates. so they are a bit easier on that front t. bond market is concerned of the strength of a ten-year bond or at 3% if it's because of strength is ultimately healthy. if that's a good reason. we have a lot of people that said this. i of course thought they should start to taper. bottom line, one place to be is in stocks. we have had some different people coming around the table. a lot of people saying think think stocks are a great value and he sees a lot of opportunities. doug deshields is here this morning. he has been talking about the bond market. when you look at the long term, you think it's fair. short of that. >> you are still, look, when you buy, when you make an investment, the purpose is to earn a rate of return in excess of inflation, why sab money? i might as well consume everything. why save to have

well, tepper is rigorous, and grandville was not. i am saying that now that the market is down, do we to tepper? when we hadley yon cooper coming on, the judge's show, and saying that the stocks are not the time to go all in, and i'm saying that tepper is not saying that it is time to go all in, but when the dust settles. i don't want to have my hand held and be in the situation to say, i'm worried about the -- and tepper says all clear, because he didn't say that. he didn't say that. >> right. and let's continue to talk about the individual stocks that are going the rule the day, and oracle down sharply in premarket, and the company reporting a fourth quarter revenue miss with the software and revenues come ing ing in lo. and meanwhile, they are reporting they will double the quarter dividend to 12 cents a share, and will switch listing from the nasdaq to right here at the nyse. so they miss on the software sales on the last two quarters and yet larry ellison is promising something startling in the cloud this week. >> well, there wa

as to tepper's comments, he thinks that it flops around here, it's no different, and then -- >> he's not saying buy them now. >> no. >> dust settles. the question is -- >> and i agree with that. >> how much dust has been kicked up by ben bernanke. >> here is what's different than what we were saying in the past was that their projections, their economic projections, are much different. they've aggressively moved up. and they threw out the 7% target as long as we see the economy getting better rather than just saying when it hits 6.5%. >> scott, it's worth noting for the second day in a row that the regionals are outperforming the money center banks and they're more asset sensitive to the steeper yield curve and they aren't going to be under as much regulation as some of the big money center banks and they're still very cheap. in the bank area, that's the area i would focus on. >> with the big sell-off of the past few days, are stocks oversold? were they overbought before? let's bring in mike santoli with yahoo! finance. welcome back. >> good to see you. >> if they were oversold, this

. >> there's even a guy named at the presenter tepper who talked about the taper.all been waiting for. sweet clarity. >> we will continue to reduce the pace of purchases in measured steps through the first half of next year ending purchases around mid year. >> kids, get on that dance floor and do the taper while you still can. as the dj said, if it numbers add up, this dance craze may be over by this time next year. something tells me that taper talk. >> taper talk -- >> taper -- >> won't be tapering off any time soon. >> so true on so many levels. >> do the dance, melissa. >> no why don't you do it and show me. >> i will. >> do it. >> it's the forbidden dance. >> anyway, getting back to the point. you said five words were different in the fed statement. 40 dow points each word. >> they were i guess fairly important points. the vix didn't spike. citigroup down today. >> what are you talking about? look what the ten year did? . josh, are you basically saying that we are going to decouple from what's going around the whole world? you're saying that one day the vix di

the stock market has rallied huge in the last couple of years and folks like david tepper saw somewhat that. >> come on, kate, we've gone beyond that. >> the question is when will it fall apart? >> when did he make a mistake, try town do the stock market when he basically let the genie out of the bottle? >> the whole debate whether this is a market fueled by a stronger economy or the fed. we were proven. the entire market was in convulsions over a blog post, not an article, a blog post, which he clarified today which was very important. we're in this mine the gap period. the fed has started to ease but the economy is not strong enough. >> how are they going to ease? >> to another point, there are these micro moves that central banks are making that are widely watched and do indicate reactions. so, for example, last night i talked to somebody who is long the nikkei who said i'm not taking my positions off despite the fact that we're in bear market territory. i'm waiting for 10/50 announcements. >> it's more about the yen. >> my question is when does this become kremlin watching? during

. >>> the tepper rally in a few moments. >> do you consider yourself a monopolist?ere are some businesses bigger than others. >> is the fed out of ammo gear? >> i don't believe they have an exit strategy ever. >> people lost fortunes they could not unravel and you guys are fools, idiots. >> ♪ ♪ caught up in the middle ♪ i cry a little >>> a lot of news on housing today. lenar to outperform the market as they say that more sellers present an attractive entry point. and mortgage ap xlagss up for the first time in one month. that despite the 30-year fixed at 4.15 which is the highest level since march of 2012. this upgrade is not that great, but this story you talked about is the number of underwater borrowers is below 10 million. >> that is significant, because frank blake said that when your house goes from being underwater to above water, you will spend three times at home depot than what you would. $1,000 on under water, and $3,000 above water. mortgage numbers are the first time today people said, i have to go buy before they get away. >> and the refinancing boom

. >> well, that is the david tepper's thesis which captivated america for a couple of days. >> 20 minuteshe chartists, and jim, we are at the dave t teper resistance level, and i didn't know we were hitting the t tepper level. and christine day resigning, and lulu lemon is a stock going on all cylinders and maybe a pool of good management overriding the futures, and i'm watching a couple of stocks, disney and other so stocks that are up on the day, because if they can turn around on the day, it means that people are caring about the individual fundamentals, but right now they obviously don't care at all, because everything is down, good and bad. >> except for sprint which is up a little bit which with we might have anticipated, but not a large amount. june 25th is the new shareholder meeting, and it does look like at least at this point, unless we get a real significant change in the posture from dish, this is going to carry the day for softbank. i have gotten a lot of questions on clear wire as we do, and this is the situation that softbank has given the indication to go ahead. and charl

you -- >> well, i wish dave tepper could come on to help us out. >> maybe that is not a contrarian plans two minutes away. it is in your portfolio? that is up next. i turned 65 last week. the math of retirement is different today. money has to last longer. i don't want to pour over pie charts all day. i want to travel, and i want the income to do it. ishares incomes etfs. low cost and diversified. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. i work for 47 different companies. well, technically i work for one. that company, the united states postal service® works for thousands of home businesses. because at usps.com® you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, technically i wear one. the u.s. postal service®, no business too small. tdd# 1-800-345-2550 hou

. >> david tepper tried to convince people of that. >> we're on the fixed derivative right now. >> noectations about future qe, right? >> right. >> in the marketplace is the expectation when you add in all qe-3, it's going to be $1 trillion. you get that number, there's no change. >> may 22nd, when -- >> the fomc. >> what you have is you have the market -- >> that's when the market -- >> is going to price it in the fed is desperate to convince people it's not the flow, it's the stock that we own. >> they're going to roll a brick over our head, but i want to show gm very quickly. what we were trying to correct before, it was 33 for the ipo, cramer pointed that out that facebook was 38. jim cramer. >> not cosmo. >> no, jim cramer. >> all i do is thank you. >> you don't have to thank me. it's my job. i'm not asking to be thanked. >> thank you. >> thank you. >> let me know on that other thing. >> i will. i'll think about it. >> there's a lot of side effects. >> yeah. that's what i heard. >> thanks. "squawk" will be right back. atu the most free research reports, customizable charts, power

come in as bad as some people fear and you have just had the pullback and you had a guy like david tepperawk box" saying don't fear the taper why not look at the market over the last two days as a buying opportunity? and will people eventually today do that in the context of the sell-off that we had yesterday and today? >> and also, look around the rest of the world, where do you put your money right now? because it is the emerging markets that are taking the tightening on the chin, and china, and what is happening with china and europe and japan and why not bring the capital back here that is interestingly enough only going to make the dollar rally and make the less inflationary pressure here in the u.s. >> good point. let's go to our man bob pisani on the floor. >> a fairly rough start today and the real issues in the commodity, because the rising dollar is hurting things. the dollar had the biggest two-day rally in the last two days since july 2012 and thank you, robert, for that statistic which is putting pressure on the commodities, and gold is down and silver down, and the aluminum