valero doesn't have that.o that allows phillips to benefit from other parts of the business and not just from producing gasoline i realize would it be fair to say that u.s. refiners still do have a competitive advantage over non-u.s. refiners for the simple fact you have cheap and natural gas, greater volumes of cheaper crude that's onshore, things are starting to look for them here as opposed to elsewhere? >> that's true true, mandy. they do have access to cheaper crude, but they have the ability to export. u.s. gas demand has come down a bit, but they're sending gasoline youth side the u.s. that's helped them and what protected them. philip weiss, thank you for your thoughts. >>> thank you, our earns squad digging into big up names and after the bell, we have their keys to the call and earnings numbers coming up. >>> plus street talk, that's also coming up. ♪ ♪ here we are, me and you ♪ on the road ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making m

it happened at the valero gas station on seminary and macdonald about ten o=clock last night. kron four's jeff bush spoke with neighbors of the man who was killed. lionel fluker was known by everyone in his neighborhood. they say he was kind and warm hearted. lionel was getting gas at the valero on his way home from the gym and was killed by a bullet intended for someone else. santos peinado next door neighbor a kind guy like that. he was just trying to go home. he was minding his own business and was going home but, he didn't make it. this is the second killing over there and now, it's affected us because this man was a part of our community and it's a great loss for all of us. lionell's neighbors are heartbroken over his death and so is his dog, pepper. we are just watching her until that situation gets settled. more details will arrive on that. meanwhile, it's still shocking that this guy we see every daywe're not going to see anymore. sonya gellington you couldn't ask for a better person. he minded his own business. everybody knew him for walking with his dog pepper. he wa

look at a name like delich, like tesoro or valero. i think there is opportunity coming in the next week or so. i believe with the premise that margins will widen. >> if you talk with the drilling companies, they will say if oil stays above 70, 75, they will play. that's something worth paying attention to. >> so, doctor, it appears that the panel sees in these broken commodities some real opportunity. some buying opportunity. >> absolutely, judge. and this is textbook as far as getting that washout that you're looking for. now, is that the bottom, just as mark fisher said, i can't throw that and say, yes, this is the bottom. but when i see the gvx, that's the volatility of gold, when that's up 40% friday and up 70% today, exploding to the highest levels basically that we've seen in years, i've got to think that that fear level will not be sustainable and that it'll come back in rather dramatically. it doesn't mean that we see a v-shaped bottom. just means we put in that bottom pretty soon here. >> all right. citi shares are on the mov

valero down the most in this group of stocks, more than 5.5%. marathon, phillips, and tesoro also down 3 to 4%. >>> and as the arkansas attorney general launches an investigation into an exxonmobil pipeline rupture, oppenheimer analysts downgrade the world's largest company on cash flow concerns. thousands of barrels of crude oil spilled on friday near a subdivision in the town of mayflower, arkansas, forcing the evacuation of 22 homes. exon says it will cooperate with the investigation, and is working on a plan to fix the rupture. meanwhile, exon shares off just a fraction today, closing at more than $90 a share. >>> coming up, stockton, california, gets the okay to declare bankruptcy, pushed to the red in part because of its pension obligations. we'll talk to one guest about why he thinks that is happening in stockton, and why he thinks it could soon become a national crisis. >>> but first, here is a look at how international markets fared today. >>> investors will soon be able to get important company and stock information from twitter and fa

the day begins quietly at the valero convenience store. customer who goes by the name cowboy makes his routine stop. >> in the morning i came in the store to get cigarettes like i normally do. i was standing up with my money in my hand. >> as cowboy makes his purchase, the peaceful morning turns to chaos. >> and all of a sudden i hear somebody come in and says, get on the floor. they had masks and i see the gun and that was it. went behind the beer cooler and laid down. >> the gunman reaches over the counter and shoots at both men, hitting one clerk in his leg. >> when i hear the shots, that's when i really got scared. i thought, well, you know, this is it. >> as the other clerk shields himself with the counter, a second man jumps through the glass partition and starts digging for cash. a surveillance camera shows the gunman forcing cowboy to stay on the floor. he's scared for his life. >> what was going through my mind, hope they don't come around and shoot me. nothing i could do, they had me on the floor. so -- >> while one of the men is

valero energy dropping hard near the lows of the session right now. valero telling cnbc at the cost of complying with new pollution studs for gasoline will cost hundreds of millions. the epa, remember, wants to reduce the amount of sulfur in gasoline. valero telling us it will cost them between $300 and $400 million. equipment upgrades. other refiners also falling. tyler, over to you. >>> the south korean foreign minister is in washington where he will meet with john kerry this afternoon, as both countries decide how to responsibility to the increasing bellicose rhetoric from north korea. senator, welcome. how worried should we about about north korea and its ability to disrupt commerce or obviously something worse than? >> we should be very concerned. at the moment there's a wide gap between their rhetoric and their actions. while they're declaring a state of war, they're not taking any obvious or overt actions to prepare for it, but i do think you have clearly a totalitarian regime dominated to an extraordinary degree by the military, and a young le

valero in the red this afternoon. >>> thanks so much. pete, want to take a stab at valero? long times. psx is another one, but these names, as josh just pointed out, huge runs recently. after this big run, you needed something as a pull back. this is definitely a story line. i don't think it's a one-day event. i think you can jump back in, the stock near the 200-day moving average. >> we deliver on trades. four stock that is have lit up my twitter feed. first up, priceline what's the trade leer? >> 60% of their bookings are europe. though it's growing faster than the u.s. in terms of travel, it's only 5% to 6 pushes. the stock is not expensive, but one -- i would hold it and on weakness i would buy. >>> caterpillar? fridays 2013 lows? >> talk about unloved. this whole sector right now. obviously a lot of people play china off of caterpillar. i think it's not quite time yet. i know that stephanie has some opinions. i will be more bullish, but would like to see the stock closer to 80ivities you were talking cat versus deere, which one you would prefer. >> right now for me it

fluker was getting gas at the valero on his way home from the gym. his house is just around the corner from where he was killed. his neighbors are still in shock. >> he would give you the shirt off of his back if you needed help. he watched out for everyone in this neighborhood as will all do. >> a kind of guys like that. just trying to go home and minding his own business. his companion is his dog in the call tonight. >> this is the second killing over there and to now it is impacted us because this man was part of our community. >> reporter: fluker was a staff photographer for the tribune for years but had gone freelance recently and was working on several different projects. everyone here on this block says the neighborhood will never be the same without lionel. they say they are going to band together and make sure that pepper is taken care of. i'm jeff bush in oakland, kron four news. >> families of the people killed in a shooting rampage at a small oakland university last year are remembering their lost loved ones days after the one-year annive

. >>> new gasoline rules from thepa will cost valero energy dearly.o says it will spend $400 million on upgrades and equipment construction alone. shares of the oil refiner tumbled more than 6% today on that news. >>> all right. it is the biggest legal battle yet over michael jackson's death. his family is suing one of the world's largest concert promoters for $40 billion dollars! wow! how strong is their case? we'll talk about the details next. >>> cutting the cord on robocalls for good. the winner of robocall they joined us with their robocall killing solution. that is coming up. "piles of money", straight ahead. ♪ . [ male announcer ] how can power conmption in china, impact wool exports from new zealand, textile producon in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. twe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks

. >> third round of the valero texas open, the tuneup before the masters, rory mcilroy decides to play here. last weekend deciding heed needd one more tuneup. he is 6-under, for off the lead. the lead held by billy horschel. women's fir major of the area, the kraft nabisco championship in rancho mirage. she has a three-shot lead at 12-under and is on the 18th 18th hole. >> ama: thank you so much. if did you happen to see a big red ball in sans france today? it there is! the sign of something big coming >> coming up at 6:00, help for home owners struggling to make ends meet. the group that can help cut your mortgage down by as much as a thousand dollars a month. >> a multibill dollar industry that can't operate like a normal business. why banks don't want this group's money. >>> speaking of my. this week's powerball is coming to california. today the lottery game's signature redball made a stop in san francisco. it's on a state tour to promote powerball. you can purchase a ticket on monday. the current jackpot is $40 million. good luck. >>> this is "world news." tonight, breaking news,

. >> third round of the valero texas open. rory mcill royal decide -- mcilroy decided he needed a workout before the masters. he is at 6-under, four off the lead. billy horschel chipping in for birdie. >> women lazy first major of the year the kraft nabisco crampship. park, birdies the fifth right here. at 12-under, park, a 3-shot lead heading into the final round tomorrow. >> look at this video. dedication to your job in an 18 and-under hockey championship, lithuanian player tosses his stick, nails the referee. the ref -- he doesn't come back to him. he goes to the other player on the opposing team, pushes the two aside and says, let's get back to the game. that's amazing. this sports report brought to you by orchard supply and hardware, talk about sticking to your job and not getting caught in the moment. >> where can i find that bobblehead? the sports office? >> you'll probably find it with all the others in the sports office. >> ama: a big return for a baseball card that is more than 100 years old. we'll >> ama: join mary

. >>> new gasoline rules from the epa will cost valero energy dearly.ero says it will spend $400 million on upgrades and equipment construction alone. shares of the oil refiner tumbled more than 6% today on that news. >>> all right. it is the biggest legal battle yet over michael jackson's death. his family is suing one of the world's largest concert promoters for $40 billion dollars! wow! how strong is their case? we'll talk about the details next. >>> cutting the cord on robocalls for good. the winner of robocall they joined us with their robocall killing solution. that is coming up. "piles of money", straight ahead. ♪ . did you know that if you wear a partial, you are almost twice as likely to lose the supporting tth? even subtle movement of your partial can put stress on supporting teeth. this could lead to further tooth loss. try new poligrip® seal and protect denture adhesive. it stabilizes your partial to help reduce movement against gums and supporting tee. care for your partial. help protect your natural teeth with new poligrip® for partials. a

valero still up, but in the red today. >> thanks very much, josh. much more ahead on this tuesday edition of the "closing bell." a lot of money still flooding into dividend-paying companies. is that where the so-called smart money is investing? we'll take a look, next. also, still ahead, tesla ceo elan musk revs up for a key investment less than an hour from now. he may have the car of the future, but is it the stock of the future? we'll debate that. and also ahead, did you know that hollywood studios are changzing content to appease the chinese government? it's happening more than you may know. how far should u.s. business go to make sure they penetrate the chinese market? you're watching cnbc, first in business worldwide. using technis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity i

charles payne likes valero energy. do not adjust your tv sets.ng you a republican in favor of the taxes. i am not trying to be facetious or sarcastic here. make your case, sir. >> well, stuart, thank you for having me on the show. i respectfully disagree that i am pro- tax. this law and forces the collection of taxes that are already do. i am a businessman. i am an advocate for the small business owner. a local entrepreneur, i just spoke with carlo this morning. she owns just cupcakes, spaletto retailer. you pay sales tax. you buy from them, you do not pay the sales tax. it is not right. it hurts our traditional retailers. stuart: it is a new tax. it will raise revenues. it is a tax. it will be levered and an area where it was not before. that means money will be taken out of the system and given to the state. >> if they are paying their taxes right, they are paying the tax now. i am not trying to be argumentative with you. it is a collection of a tax that is currently due. it has widespread report. bob mcdonald supports it. this is really, i thi

i was long valero. i dropped out. >> drop for yum brands. tim?theme for this week, multinationals that are running into problems in china. they are under attack. yum is no different and the stakes have probably gotten right with at least fears of the asian bird flu coming back for this company. i think you take an opportunity to buy the weakness, but not here. >> pop for best buy, up 15% on the week. karen? >> totally without me. i don't get it. i think you asked me about this stock at 21 or 22 -- >> yeah, probably. >> so, here, certainly not. i don't -- >> that was a street fight i won, by the way. >> was it? >> you won it, tim tim. that was your first one ever, tim tim. >> easy to remember when you won one. >> oh. >> just letting you know. >> those were the biggest moves of the week. let's look back at the best moments this week on "fast." >> what's the corn cob? you got to say it. you threw it out there. >> you threw it out there. now we're all wondering. >> we might have to do a whole show. >> one of my prized position is a new zealand five s

funny moments during first round of the valero open. hiz he's going purpose pump the ball out of frustration here, or try to. he missed. he had the punt blocked. then, just gets this thing, yeah. i don't want that. and this abc 7 sports report brought to you by orchard supply and hardware. >> it doesn't look as cool. >> in the really. no. >> masters is going to be exciting next week. >> yes. >> and thank you, larry. >> join me tonight on cable channel 13. coming up then, exercising and your health ch. is better for health? running or walk something. >> then, on abc 7 news at 11:00 the bay area city that never sleeps. the new rule that will allow businesses to stay open all night long. >> here is the prime time line up. it starts with wife swap at 8:00 followed by gray's at nine then scandal at 10:00. ama and i will be back with late news at 11:00. >> we will be. >> that is it for this edition of abc 7 news. >> from all of us here thanks for watching. we appreciate your time. hope to see you at 9:00 and 11:00. ♪ ♪ if loving you is wrong

lionel fluker stopped at the valero gas station on seminary and macdonald on friday night. he was on his way home from the gym, when he was hit by gunfire intended for another man. police say the intended target was also hit. that 38 year old unidentified victim is in critical condition. meanwhile, fluker's neighbors are heartbroken. this is the second killing >> this is the second killing over there and now, it's affected us because this man you could not ask for a better person everybody knew about have wanting his sweet dog. was a part of our community and it's a great loss for all of us. you couldn't ask for a better person. he minded his own business. everybody knew him for walking with his dog pepper. she was a sweet little dog. everyone on fluker's block says the neighborhood will never be the same without him. they say they are going to band together and make sure that his dog pepper is taken care of. the case. a traffic note to pass along to you this morning. beale street between mission and howard in san francisco is closed this weekend. crews are working on the t

final round of the valero texas open. the game is coming into shape. masters starts on thursday. a final round to finish at 12 under. not quite good enough for the win. it is a niend under 63 and a birdie on 18. the driving tip of the day. the tire must be firmly affixed for optimum performance. kurt bush, 78 car thrapples. car flames. he takes the checkered flag. this abc7 sports report is brought to you by river rock casino. got it all in. >> good job. thank you, colin. >> and thank you for joining us. that's it for this >>> this morning on "world news now" -- >> we were so proud of anne, she did so many great things. >> the young diplomat killed serving her country in afghanistan. her family's grief as her body is returned to the u.s. today. >>> and on edge, major developments from north korea with threats of another nuclear test. find out why foreign diplomats may not be safe in the north korean capital. >>> doctors warning, why doctors are concerned about an ingredient that could pose a serious health threat. it's monday, april 8th. >> announcer: from abc news, this is "worl

final round of the valero texas open. the game is coming into shape. masters starts on thursday.ound to finish at 12 under. not quite good enough for the win. it is a niend under 63 and a birdie on 18. the driving tip of the day. the tire must be firmly affixed for optimum performance. kurt bush, 78 car thrapples. car flames. he takes the checkered flag. this abc7 sports report is brought to you by river rock casino. got it all in. >> good job. thank you, colin. >> and thank you for joining us. us. that's it for thispreviously on. ask me why i'm here. you know, i ask myself that question every day. that was paula, my agent, with big news about my book, "heat wave." are they really making a nikki heat movie? dude, did i call it or what? and you are about to be immortalized on the silver screen. (man) yeah, i'd like to report a murder. i did it. he called to report his crime. it's like he did this for fun. (camera shutter clicks) nikki heat. he dedicated this murder to me. nikki heat i presume. it's beckett. special agent jordan shaw. tell me everything you know about jordan shaw.

a gunman opened fire at a valero gas station near mills college. 54-year-old lionel ray fluker was driving home from the gym when he was hit by a stray bullet. police say the intended target was critically wounded. fluker worked as a freelance photographer for the tribune for more than a decade covering some of the biggest stories. yesterday in a symbolic effort to honor him, someone tied film to a pole right near the crime scene. >> the most important thing about him was his life for life, oakland and his family, and i hope that the rest of us can live our lives the same way. >> fluker's 20-year-old daughter attends college in atlanta. so far police have not made any arrests. >>> we have new information this morning about a fuel leak that forced caltrain to temporarily suspend service between san bruno and south san francisco overnight. officials say service has been fully restored and the first train scheduled to leave san jose on schedule in about 25 minutes. service temporarily halted last night when a train hit a piece of metal debris causing more than 700 gallons of fuel to spill. >>

. >> remember yesterday, valero told cnbc that the cost will cost between 300 and 400 million.telling me that we are seeing selling from that news. making it more expensive to come ply. add in potential profit taking. refiners down again today. sue, back to you. >> thank you very much. |to chicago and the trading pits where we see the yield on the ten year. what are they watching? >> they're watching that index you're going to think about on the bond side down for the year. might not be for long. look at the 24 hour. 180. year to date, please. for all of data 2013, this is the lowest yield should it close here. there is movement in that. eight month commodity lows. add corn to that. a boat load of corn potentially being planted. >> stocks slipping today. so can the bull continue to run with the dow jones already up 10% for the year? back for richard mattigan. >> i guess i would like to talk first about u.s. stocks and whether you think given the underlying fundamentals of the economy and the marketplace that those fundamentals justify today's price? >> we do. the biggest debate

i think valero is more valuable he be that ladies and gentlemen is the conclusion of the "lightning roundof. >> the "lightning round" is sponsored by td ameritrade. [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ welcnew york state,de. where cutting taxes for families and businesses is our business. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com oh, he's a fighter alright. since aflac is helping with his expenses while he can't work, he can focus on his recovery. he doesn't have to worry so much about his mortgage, groceries, or even gas bills. kick! kick

valero? >> take the money and run. i do not like the refiner trade. refiner utilization is 86%.t's well above the five-year high right now. refiners understand, take advantage of the price. go make as much gasoline as you can. inventory is going to be swimming. >> best buy? >> it's interesting because it does show samsung's agreement to put in the store best buy is a confirmation there is still value to the company. having said that it's more than doubled over the last four months. take profits here. >> murph? >> this one looks like it's breaking down. it's going below the recent support level. i would stay away. there's other places to make money in the market here. i wouldn't want to jump? >> doc, josb. >> positive confidence coming out of the corporate call. still trading up at the highs of the day right now. >> >>> comine g uing up we knowg is on the rebound but is a new part of the real estate market ready to boon? and later, top rated analyst with a very provocative note question what's the show "house of cards" really means for netfl netflix. >>> welcome back to the "half

the gunman opened fire at a valero gas station near mills college. 54-year-old lionel fluker was drivingom the gym when he was hit by a stray bullet. police say the intended target was critically wounded. fluker worked as a freelance photographer for the oakland tribune for more than a decade covering some of the biggest stories. yesterday in a symbolic effort to honor him, someone tied film to a pole near the crime scene. >> the most important thing about him was his love for life, oakland and his family. and i hope that the rest of us can live our lives the same way. >> fluker's 20-year-old daughter attends spelman college in atlanta. so far police have not made any arrests. >>> in overnight news, someone has broken into at least 10 cars in an overflow parking lot near oracle arena in oakland. last night the arena hosted pop 2013 a popular rave concert and this morning as rave goers were returning to their vehicles, around a dozen parking spots were covered with glass. all of the damaged cars were parked in an overflow parking lot near bart on 73rd avenue. >>> this morning caltrain ser

the gunman opened fire at a valero gas station at seminary avenue and macarthur boulevard near mills ray fluker was driving home from the gym when he was hit by a stray bullet. police say the intended target was critically wounded. fluker worked as a freelance photographer for the oakland tribune for more than a decade covering some of the biggest stories. yesterday in a symbolic effort to honor him, someone tied film to a pole. >> the most important thing about him was his love for life, oakland and his family. and i hope that the rest of us can live our lives the same way. >> fluker's 20-year-old daughter attends college in atlanta. so far police have not made any arrests. >>> one man in police custody this morning after a fatal shooting in concord. police say around 8:30 last night two men got into a fight on mccasa court off monument boulevard. that fight quickly escalated into a shooting. 25-year-old brentwood resident eesh resident -- he is being charged with first-degree murder. >>> new this morning, secretary of state john kerry is mourning the death of a u.s. diplomate kille

. >> pop here for valero, up 2%. grasso? >> panda. just kidding. a bunch of headwinds.dits, sulfur parts per million, the wti brent spread has been coming in. i sold the name. i think it's out of gas right now. >> netflix the move 2%, a drop. mike khouw? >> they're debuting arrested development. the stock has also been arrested here. miking pachter is reaffirming his sale. obviously substantially lower. news that carl icahn hadn't been pairing his position yesterday which we had already covered. obviously not enough to support it. i would absolutely stay away from this. >> and a drop here for mexican beer, a fiesta was brewing in mexico earlier this week when a truck filled with beer tipped over on a highway. within minutes, the scene was buzzing with beer drinkers, brandishing backpacks, bags, shopping carts to haul away the spilled cerveza. luckily no injuries reported in the crash. >> look at that. it's crazy. lights like a flash mob. how did they find out about it so fast? >> twitter! i have no idea. all right. coming up next on "fast," stockton, chasm, already on i

valero, energy they're going to spin off the retail business, down.t buy's price target raised at steeple nicholas and that's down 40 cents. reuters reporting that disney is going to start laying off people at its studios and consumer products divisions, everybody is down. row s rosetta stone, down. and chairman of hewlett-packard chairman stepped down and that stock $21, down. and to the big board, we're coming back just a little and we're down 129 points, we were down 150. more consequences, unintended, of obamacare, tens of thousands of people, including community activists will be hired as navigators to help you choose the best health coverage under the law. believe me, it's going to cost you a lot of money. the foremost critic of obamacare is next. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to o someone who knos how i t

a gunman opened fire at a valero gas station near mills college. 54-year-old lionel ray fluker was drivingom the gym when he was hit by a stray bullet. police say the intended target was critically wounded. fluker worked as a freelance photographer for the tribune for more than a decade covering some of the biggest stories. yesterday in a symbolic effort to honor him, someone tied film to a pole right near the crime scene. >> the most important thing about him was his life for life, oakland and his family, and i hope that the rest of us can live our lives the same way. >> fluker's 20-year-old daughter attends college in atlanta. so far police have not made any arrests. >>> we have new information this morning about a fuel leak that forced caltrain to temporarily suspend service between san bruno and south san francisco overnight. officials say service has been fully restored and the first train scheduled to leave san jose on schedule in about 25 minutes. service temporarily halted last night when a train hit a piece of metal debris causing more than 700 gallons of fuel to spill. >> the loc

. >> this is the kind of day when valero does a spin-off. >> carl icahn blows up and there are thingsh in this market that are not actually that positive. but it just doesn't seem to damage it. there are things -- i marvel at the entertainment of this market. >> how is it possible that both downy and iron man are on the same balcony at the same time? >> the double vision that oscar robertson once had 40 points. >> that costume must weigh a ton. >> definitely. >> i'm just guessing here. >> i think it's just plastic. >> and disney, let's understand the greatness of that acquisition of marvel and the star wars acquisition would prove to be brilliant. >> another area where disney will be incredibly aggressive doing a film a year they say for the next few years as they complete that set of three different trilogies. you had buffalo wild wing, by the way, earnings. >> yeah. all over that. >> a lot of street discussion about it, too. >> yeah. first it was down and then sall smith talked about how april was good and going at 5% and wings cost down and a bunch of analysts said wait a second, t

. >> finally merrill says time to buy valero.d let that percolate for a couple of days. >> what's coming up tonight on mad? >> there was a guy kimco realty. david henry, he once heard me say i'm worried about kimco and amazon and that kind of thing and brian and i were going back and forth at 2:00 and he called me and he said we have a good story to tell. he is a jigigantic, gigantic operator of stores. every mall you see, it could be a kimco, and i've got to find out from the american consumer because that is the conundrum. sequester will be an issue, but housing good, auto good, how about shopping? i need to know how good shopping is. >> interesting. i wonder, the sequester if we'll look back in a few months and say if delta was going to be the beginning of a new shelter. >> people are bomb barred and you leak the airlines, cramer and you're all washed out. i'm focused on u.s. air, but remember, consolidation means prices will be able to stabilize and it's only a matter of time before people realize, holy cow, to fly in the cou

i can't come up with negative other than for valero. >> what is the tell here? a broader indictment of economic growth worldwide or is it something that's related to more training mechanics than hedge funds? >> i think it's trading mechanics and they hit certain stocks. let's understand that there's a precious metal commodity that was precious metal being used as a currency and i still think that makes sense and it's a freefalling night. then there are these raw materials that have just been pounded and you really feel like let's take oil. we feel that if we looked away from china, we have a glut in this country, and the brent not only sent europe really set by the chinese with the saudis pumping and if oil comes down, i am not going to suddenly read this is negative. i can't. if we close below 1407 that is the first 10% plus decline over two days in 33 years. >> we've been up for 12 straight years for gold and gold has been the place where everyone says if the central bank has been a place to hide. if you take a look at how gold has done relative to the u.s. ec