Nothing the last couple of weeks . I think the last ten days, weve been talking about the distinction between having a longerterm portfolio and wanting and needing the exposure to technology and really not touching the technology in the longerterm portfolio. This is a shortterm trading event. I think today we are bouncing. I dont think its over for a lot of the volatility that were seeing in the fang names we could see more, if you want to selectively buy in your longerterm portfolio, im fine with that, and as far as getting out of amazon, longer term, i dont think thats the right thing to do. Okay, difficult to get inside the head of somebody whos not sitting here to answer the questions himself or herself but weiss, what does it say when a guy who runs a tech fund at a big place like t. Rowe price, whos beaten 99 of his peers over the last decade has said enoughs enough on amazon and says the following when sentiment lifts, that is when we usually take money off the table. That is hard to do it feels bad to sell when storks do well, says josh spencer and i think thats what separates the really good ones from the ones not so good, having this sell discipline. Its easy to buy something thats beaten up its always tougher to sell it when its doing so well. What it says to me somebody like him likely has to be fully invested or at least cant hold more than 10 cash at any point in time. It tells me hes found something thats cheaper theres still some value out there in technology. You can find a lot of things that are, quote unquote, cheaper than amazon. Thatll do better than amazon does he have stocks in his portfolio that can double . Amazon the not going to double from here. Its going to take a much longer time so i come back to tableau, frankly. The ceo of tableau was the individual who built a. W. West at amazon. Amazon controls 40 of the cloud. Thats the next place that you want to own so he says, look, i found three better places to be other than amazon and tesla, by the way, josh, which he unloaded for intuit, workday, and ultimate software but the statement this sale makes is what. Is it anything to be concerned about for the average investor whos holding some of these stocks that have done incredibly well, and saying maybe its time to heed the advice of a great fund manager and do the same so, he sold it to someone and we dont know who that is or many people, more likely and probably some indexes, too thats one number two, there were probably people saying the same thing the whole way up maybe 200 a share from now, someone else will make that statement. So i dont know that regular investors need to necessarily heed what any one fund manager is doing, even a super successful one but, to steves point, this is a stock thats made people a ton of money the bigger it gets, the harder its going to be to continue those gains on a percentage basis. It can still continue to go occupy, but this is now maybe the consensus long in all of growth stock investing maybe right alongside apple and google i dont think there are a ton of new bulls out there in the world that are all of a sudden going to discover amazon for the first time and take it substantially higher so its probably not a terrible idea for him to take a profit. But, you know, again, hes got a different agenda than any other investor in the market different time frame, different ideas about how long you want to hold the stock for different ideas about where they would rather redeploy the money. I think people need to think for themselves talk to the fund manager in front of us, erin brown. Is there a statement in this do you disagree with the move . I dont disagree with taking profit on the way up i think any type of trading discipline will tell you that you want to take profits and lock them in, as youre making money. That said, i wouldnt abandon the fang names now i think this is the place where youre actually seeing real growth youre also seeing real innovation and i think last weeks example of amazon buying whole foods tells you that there are areas of the economy that digital has not penetrated yet and thats where, i think, the growth communities lie. So i continue to like the tech sector i think you really want to overweight tech, but also overweight some of the value sectors in the economy but i think when you expect when you look at what parts of the economy are growing, tech is the place to be investing in right now. Okay, so, pete, erin has exactly what barrons says, right . The new barrons over the weekend says, will tech stocks keep rallying, and the answer emphatically they say is yes for the reasons that erin just laid out. After a tomb, the tech rally will resume. Its going to continue deliver strong Earnings Growth few concerns based on actual fundamentals and no, this is not 1999 those barrons guys listen to us a lot, right . We talk about the fundamentals, the fact, with the earnings. What have we seen the last couple of quarters, phenomenal facts and fundamentals when you look at whats been reported to us so far. So what has really changed i think when youre talking about this amazon and this move out of amazon into somewhere else, why not . I think every time i put on a trade, my goal is, all right, i have an up and a down. Where im going to get out of this and i use discipline to actually continue to do that. So amazon, maybe 1,000 was this mans number maybe in 1,000. You know what, this is where were going to take this off thats discipline in the market place and thats moving around it doesnt mean the fang names cant continue or the fang man as you and i have started to call some of these names add microsoft in there and nvidia in there and alibaba in there and suddenly youve got a very Interesting Group of names along there, scott but its about value and its about growth what has technology been giving us plenty of value, some with i e high pes, but also with lots of growth youve had a debate on whether its time to rebalance your portfolio and move out some of these overperforming or outperforming at the very least sectors like tech into those that have lagged go back into the financials. Keep that small cap thing working. The russell 2000 has done well. And those areas that have seemingly left behind for these sex area areas like fang and other parts of tech. Thats always the debate. And on the other side of the debate, what were not talking about is that active management has to outperform, right theyre down again their back is against the wall. Theyve lost so much assets to indexes and indexes keep going so theyve got to make bets about where the next double is going to be, not where the next amazon that every index have theyre going to outperform. This is almost like a 2 x 4 across the head, saying dont give up on these names just yet . And i dont think you should. If technology is growing, the economy is going to grow and this resembles the nifty fifty. Go back 50 years, before i was in the market, josh, if you go back 50 years, youll see you had a core group of stocks back them it was brand name consumer names its a great analogy. We are absolutely with all these acronyms and every day we have to change the acronym to add a new darling, we are 100 on our way to that, if price continues, by the way, to that nifty fifty kind of ethos, which is, it doesnt matter what you pay for a company, because this is going to be one of the company that leads in the future a very similar sentiment in the 60s and some other parallels, such as the onset of rate hikes and et cetera. But i think theres already a little bit of a rotation happening away from just owning tech and wanting to own medical tech and biotech and i want to talk about whats going on today, because we have a massive breakout happening president xbi, which is the equalweighted biotech index. As im speaking, this is occurring. We are now at the highest levels since december 2015. Its more than a year and a half ago. Now take a look at the ivb this is your largecap biotech 300 has been resistance for a long time. Looks like she wants to take that out here. If you can get above the 300 level, thats another massiv breakout even xlv taking out new highs. So people are looking for Growth Stocks that are not directly tied to the economy and that can grow regardless. Tech is obvious. But health care, also, fairly obvious. The aging population, around the world, china, japan, u. S. , europe, everyones going to want to spend more and more money to live longer and longer and have a happier, longer life and this is a sector thats got a secular story to it, just like the fangs or whatever were calling it this week lets stay on tech for a second well go to the other areas, as well microsoft, right a stock that you guys have mentioned, but not generally in the fang group Morgan Stanley raises the price target to 80 bucks they make a sizable case for why this stock can go higher strengthening secular positioning, a return to doubledigit epps maximum goeso 180. I recently have been aggressively going after microsoft. Anytime i think technology dips, i buy microsoft. I think microsoft for me right now in my hold sings is a Better Holding given the volatility im seeing in some of the fang names. Steven mentioned before managers having to go out and create some alpha. I think the alpha opportunity still right now when you look at tech is in moving out of some of these gogo growth names, going into some of the slower volatility tech names and financials lets not forget financials in this conversation, because the last two weeks, theyre performing well and candidly, i want to see the financials, right now in this moment, i want to be in a Morgan Stanley versus, i want to be in some of the gogo growth tech names. They need to do some catchup after out of the gates and the catchup started when they broke out of that 23 to 24range in the fxlf, and all of a sudden you see the leadership start to see Goldman Sachs jump back along with jpmorgan and citi and all of the names we talk about all the time you see that breakout. Since that time, its been moving up and up and up and towards those highs. Im glad you mentioned Goldman Sachs. You know why thank you, sir. Because Lloyd Blankfein, the ceo of Goldman Sachs, pete, will be on with jim cramer tonight. My favorite new account on twitter, by the way. Hes a heavy tweeter. Hes so good. A heavy tweeter so youve got to watch lloyd. If youre interested in investing anywhere in the banks, youve got to watch lloyd. Hes awesome. Speaking of ceos and speaking of microsoft, sachi nadella, one of those ceos, part of President Trumps American Technology council. Its a meeting at the white house today along with briothers eamon javers is live at the white house. This will happen late this afternoon . Were waiting for some of the ceos to arrive right now you were just talking about jeff bezos and showed that graphic of all the ceos that will be here jeff bezos, here in his capacity as the ceo of amazon and theyve been making some big moves lately, but he also owns the Washington Post which has been report ving very aggressively on President Trump and the Trump Administration so theres some subtext there. Also some of the biggest names in technology that will be here, including tim cook of apple, eric schmidt of google alphabet. And the challenge here for these two worlds that are colliding in this meeting today, theyre going to be talking about government i. T. , how to bring in ideas from the private sector, but youve got an administration that has been focusing on old economy jobs for lack of a better phrase. Theyre focusing on coal, oil, theyre talking about manufacturing plants and keeping those plants here in the United States and then youve got the tech sector, which is really focusing on automation, driverless cars, ways of pull iing technology out of the economy in many ways. Let me toss it here from the north lawn of the white house over to the Southwest Gate where Kayla Tausche has been on duty and shes monitoring arrivals over there kayla . Reporter well, eamon, its just about less than an hour before this meeting is officially slated to begin and we are seeing the ceos trickle in you mentioned eric schmidt of alphabet, the executive chairman we asked him what he and alphabet hope to get out of the meeting and what role he will play and he said, no interviews here we saw the ceo of qualcomm, a chip company that does the lions share of its operations in china and as you mentioned, eamon, there is going to be this dynamic where the ceosss and their companies will want to be talking about initiatives that are close to home to them. And the government wants to discuss how these companies can play a role in modernizes the governments system. Safra katz, the coceo of oracle arrived 10 00 a. M. , a couple of hours before this meeting is slated to begin, but well keep you posted a as they continue toy a arrive Kayla Tausche, thanks so much many morequiarquise names arifit the white house. Snap shares higher i love this story. Just because theres so many naysayers, they can continue do this, they dont do that, they cant compete with them. Okay i dont think anyone was a naysayer about snaps ability to get big brands to commit to the platform i think the naysaying is around the deceleration of user growth, and i dont think this does anything to change that. Its a great deal, a great headline im rooting for snap i dont want to see them not succeed. And time warner is a great partner. But can you tell me what the nfl did for twitter . Im at a loss. I dont know that this look, you have a lot of shorts in the name im not surprised to see a nice rip today on Something Like this i dont think that this changes anyones minds about how tenuous snaps position is right now but isnt it noteworthy in a conversation where youre talking about, you know, snap versus instagram this is a meaningful yes, this thing could end up like by the end of the day i dont know the details of the agreement. We dont know all the details. We dont know what its dependent upon there could be kickers in there that if they dont get the user grill to a certain level, that numbers not 100 maybe its zero or 50. Before the lockup, okay, when is that, august . Yes, coming up. Would you buy this stock ahead of the lockup . No, i wouldnt buy it after lockups over, unless you got really depressed for a trade somebodys buying it today. Good for them i think this as well as fridays announcements both show you that youre seeing more and more of these internet companies, these Startup Companies penetrate additional media forms, traditional, you know, every form of the economy is being really penetrated and disrupted. And i think you cant discount the ability for these companies to transform to be nimble, to be flexible, and to be able to take market share from Traditional Market players except when they disrupt each other. And you know, if you invest in this, de facto, youre saying we think theres going to be room for two or three of these types of platforms and instagrams not going to take the whole ball game and that would be ahistorical. When you look at the fang names we were just talking about earlier in the segment, what they have in common is their monopolists. And there isnt room for two there arent two ecommerce giants, theres one. There arent two search engines, theres one. And facebook has rapidly made itself the dominant social media platform and its tough to say theres going to be Instagram Stories and snap stories side by side. Snap may win, okay, but thats not that foregone conclusion and market value of over 10 billion is saying, they probably have it, its in the bag i dont think its that simple heres my equation, okay . The Department Store is to amazon as snap is to facebook. You mean your analogy you said equation its an equation. No, its actually an equation. Okay, sure. Lets find this sum so we can go to break. Hold on weve got a genius here. Okay, were going to break. Heres what else is coming up on the Halftime Report. Cleanup in aisle 3. Cleanup in the entire grocery aisle. Next up, wall street catches up to the mess in the sector left behind after the amazon whole foods deal plus, joshs surprise sell of a dow component see which stock he decided to dump and why before the break, dont miss mad money with jim cramer tonight at 6 00. The big guest, Goldman Sachs at tig om meynkfein thsonhtn adon at 6 00 eastern at fidelity, trades are now just 4. 95. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. And at 4. 95, you can trade with a clear advantage. Over hereno ver here dog barking whoever threw it has to go get it. Not me somebody will get it. Is making it a reality is the hard part. From the b2 to the upcoming b21, Northrop Grumman stealth bombers give america an advantage in a turbulent world. And were looking for a few dreamers to join us. Welcome to holiday inn whether for big meetings or little getaways, there are always smiles ahead at holiday inn. Become a villain again. Mmm. [ minion babble ] [ minions cheering ] [ minions sighing ] [ minions cheering ] [ minions booing ] okay minions, were going back to villainy. [ minions shouting ] so bad so good that im so bad. [ honking ] so, youre villains now . [ nervous laughter ] i mean, hello sweetie. Despicable me 3. Rated pg. For years, centurylink has been promising fast internet to small businesses. But for many businesses, its out of reach. Why promise something you cant deliver . Comcast business is different. We deliver superfast internet with speeds of 250 megabits per second across our entire network, to more companies, in more locations, than centurylink. We do business where you do business. Halftime report. The food fallout continuing today from the amazon whole foods megadeal our call of the day is two downgrades on Grocery Stores costco downgraded to hold and kroger downgraded to equal weight at Morgan Stanley super helpful, by the way well, i want to lets talk, pete lets take the costco one at deutsche they question whether its past its prime. Right disagree i actually like what it was in its prime yep now theyre out of it on wednesday. Now its past its prime when a 1 participant in the market place, whole foods, suddenly thats going to eat away at them i dont really believe that, scott. When you look at costco, you see, theyve got scale, clearly. Theyve got that annuity and the gas is always so much more inexpensive high do that i do that they do it to draw people in their traffic numbers the last couple of quarters continue to grow not shrink theyve been growing theres a lot of reasons when you look at this and just say, its an easy call by an analyst just to say, costcos all done if you are in costco and worried about amazon being an entrant into the food they were already in the food space amazon fresh is ten years old. They bought it for distribution or should it . I think much more disruptive to costco is a company like boxed, which is really trying to hit them square on with exactly what theyre doing there are internet startups that are trying to hit costco, but i dont think that the whole foods deal materially changes how people should a lot of people dont know this, but the whole idea for amazon prime came about as a result of a conversation between jeff bezos and jim sinagos of costco once people are a member, they dont price shop anywhere. And clearly jeff took that idea and ran with it. But i dont think this puts costco squarely in amazons sights, because shipping things in huge, bulk packages is still not logistically figured out and i think theres something about the experience in the store, in some cases in retail, that doesnt just automatically disappear because somebodys got great ui on a mobile phone screen soild so i would be a buyer of costco, maybe not the traditional supermarket. I bought costco in april after earnings, i stayed with it throughout i remained i was going to buy some more once it stabilizes its actually pulled back to the 2 hurk 200day moving average, which it has not violated below since december everyone here has highlighted fundamentally why you would be in costco. Thats already well known. My strategy honestly is wait for stabilization and ill go in and buy more how about this kroger call . Morgan stanley downgrades it to equal weight and they question whether all these food Retail Stocks go from here. It was in the basket that got bludgeoned after the announcement of that deal. Somebody owes a chain of supermarkets, large supermarkets of course naturally hes probably golfed with them friday. Hold on lets go back to the white house. Kayla tausche with another arrival there, Satya Nadella, microsoft. Reporter guys, that was Satya Nadella from microsoft, getting in line here at the executive office building. We tried to get some more commentary about todays meetings, but well keep trying with the other executives as they come in kayla, thanks so much we know you will steve, you were saying he didnt want to take my airtime, understandable. So im saying, this guy owns supermarkets, every time he takes distribution from his company, he buy s amazon stock i said, does amazon hurt you he said, absolutely it hurts me. Youll see some consolidation there and theyll have to spend to keep up with what amazon is spending in their technology this is not it for amazon. Theyre going to use this as distribution centers, theyre going to use it to grow and crush the pricing of the suppliers, because they said theyre going to get the prices down terms of costco, look, i think costco is not going to sit there in advance and say, lets wait and see what happens i think its a concept that can last, but theyll also have to pick up their capex, so profitability will come down, so just avoid the space if you get it dirt, dirt cheap i totally disagree with that and i actually bought krogers on friday because we had unusual activity in there at 21. 5. How about the reaction were seeing today this thing gets downgraded guy from 21 to 32 and the stocks higher Everybody Knows how tight margins are already, scott im not sure theyre going to get squeezed as everyone thinks. The margins already in the grocery world are what they are. Pete grows all his own produce i do, actually, have a pretty big with your bare hands. You have unusual activity is this something else. Where we doing it now right now now all right, were doing it in sprouts. Were right back into the same space, right thats why were doing it now. I thought we were going to the board or something december 25 call, somebody comes out there and buys 9,500 of these calls, pays 1. 50. The other side of that trade is, to help finance that, they sell 15,000 downside puts the 17 1 2 puts. What does that mean . It means someones willing to own this stock if they get crashed under 17. 5 theyre fine owning it and theyre getting a lot less equity out there in front of them right now in terms of how much money theyve got to put out for the trade. They also bought on friday giddyap big, dog, sprouts is going higher you did that well tonight fly. Knows his stuff up next, a trader tracker on josh brown the dow component he is selling after holding on for a year. Plus, in todays blitz, the trades own tripadvisor, the steel stocks Halftime Report is back in two minutes. Deartheres no other way to say this. Its over. Ive found a permanent escape from monotony. Together, we are perfectly balanced. Our senses awake. Our hearts racing as one. I know this is sudden, but they say. If you love something set it free. See you around, giulia upbeat dance music dance music abruptly stopping dance music starting then stopping welcome to holiday inn whether for big meetings or little getaways, there are always smiles ahead at holiday inn. Welcome back to halftime jeff immelt announcing hell step down as ceo after 16 years at the helm. Not everyone believes the transition will be positive, including our josh brown who was in that stock for more than a year, at least yeah. About a year. You sold it yeah, you know what really grinds my gears . What is it, josh . So tell us enlighten us so they get an ostensibly writeup in barrons they say it could return to 15 . But it was like, every compliment was a backhand eed compliment and i was thinking about getting out of it, anyway. And i thought, oh, cool, ill get a barrons bounce and you dont even get that. Because you know what it is . This is a company thats just so raked over by like 100 different sellside analysts, theyre now arguing about whether or not real earnings will be 1. 88 or 1. 89 for next year and one penny in one direction might make the difference of 3 in the share price. Thats the kind of thing i have no time for. Because were in a market thats breaking out to record highs, not just here, around the world. There are thousands of stocks trading above their 250 tenday. Theres opportunity everywhere i dont have time for this like, its too much already. So heres whats going to happen the new guy will come in in august i think weiss pointed this out next week. He has no incentive to keep Prior Guidance kitchen sink it maybe the market expects that im not the only person thats figured that out but even still, once that happens, everyones excited. Oh, hell sell off units, hell sell off financial okay, fine thats like a fivearea plan thats not a catalyst for this year so maybe ill revisit. I dont hate the company i think there are better places to be allocated and this is too much you have another Big Industrial that you would prefer over this one, if i said, it has to be in the same its tough the xli is making record highs. You can pick from 20 or 30 stocks that just look incredible right now. Maybe i like 3m better i dont know, but i definitely dont want to waste time here. I think this is a showme stock right now. Some of the parts are greater than the whole and people arent going to invest in it and fully get behind the stock before you start to see some divestitures and some of them really starting to streamline and decomplexify their business i dont know if that was a word, but make it less complex do you have a preference. I think the xli is a fantastic place to get Broader Market exposure and start to get invested in the pickup were starting to see. I bought ge tonight news. And the reason i did the jeff immelt news . Yes and do i think its going to happen today or tomorrow or in august or by the end of the year, i dont know do you think youre being paid enough in dividends to wait until the end of the year . I think aim its not going to be the 16year way its been. And youve got the peltz factor thats the beautiful thing about this is, is he just going to sit back on his investment probably not but, so, like this is a longer term thing. Not a big pushback to that, but just make the point. Like, everyones saying, if they spun off health care, it was a separate company, it would be worth, you know, much bigger, given relative valuations. The thing is, the guy running it now came from health care, directly, and the last interview he gave, thats like what hays most bullish about so, like dont hold your breath. Hold your thought speaking of holding. Kayla tausche back at the white house. Well, weve been helping with the prior administration, providing some leadership and thinking about things we can do both for companies, but more importantly for sme and for consumers. And i think im going to raise those topics again do you have a venue to raise those topics outside the formal sessions will you be meeting with the president today . I think hes going to be there later, but im not quite sure about the agenda. Whats your assessment of the Trump Administration so far, five months in oh, kayla that was the ceo of mastercard, one of the attendees of todays meeting since we have last seen you, we have saw akameye were certainly getting a variety of commentary of these ceos it looked like Bill Mcdermott of sap was walking behind you with the glasses yes, with the trademark glasses, yes that is right. Yeah, we see him going in just right now through the turn stiles here. So well keep an eye on the folks who are getting out ofnon similar black cars lets do our trader blitz perkinelmer announcing plans to acquire a german lab diagnostics. This gets them to sbee merging markets, into europe this is a quality name i bought more today. They clearly understand the global exposure as it relates to what josh was talking about before, health care and technology all right steel stocks are on the move today. Long bow upgrades. And they have some targets that are pretty up in the sky. And last week, we had huge paper. Has it bottomed . Im not so sure its bottomed. Weiss, what do you make of this biogen upgrade . Its to neutral bulb it was at sell and thats at ubs and the stock has been a massive underperformer i like it. I was looking at it last week. I like the whole group josh pointed out i think its the place to be trump doing an executive order on pricing and says its all clear. This is an interesting one, josh valeant. John paulisson joins the board. What do you think . No. No seriously no. Others i cant believe who bought this stock recently hes the largest shareholder, so why wouldnt he want to have a seat at the table as they try to figure out this im not bearish on it that means instant payoff or gratification. No, somebody thats been in the stock the whole ackman i would certainly want to sit at the table given that im a large shareholder and this thing its been a huge issue, still ongoing, not resolved. I would definitely want to stay. So i dont blame him for doing that i dont know that that should be a signal to other investors, hey, come on in this house thats on fire, see how you like it this is not for me if the house was as on fire as people assume, why would p l paulson go towards the top floors we see this stuff all the time come on. Because people, at a certain level, its not just what you think a stocks going to do, its reputation. Its hey, i got myself into this mess and my investors, im going to get out and maybe he will. Weve seen Great Investors double and triple down on Problematic Companies and sometimes they fix it, and sometimes they dont i wouldnt know which is going to be the case here. For him, its a great bet, right . If he goes on there and the company does turn around, its all him. Otherwise, hes still painted with the major mistake by the way, hes a debt guy, a credit guy this company zm they cou they could use a little bit of that expertise. Ahead, what could be the most important signal to follow fo buying or selling a stock that no ones talking about. Okay, well lets see you get up from the couch. Im sorry, what . Grandpa come. At cognizant, were uniting doctors, insurers and patients on a collaborative care platform, making it easier to do whats best for everyones health, every step of the way. You may need more physical therapy. Ugh. Am i covered for that . Yep. Look. Grandpa catch grandpa duck woah ha there you go grandpa. Keep doing that. Get ready, because were helping leading Companies Lead with digital. Im Contessa Brewer with your cnbc update right now the death count has risen to 79 at that zadevastati fire in london experts say the towers design may have helped spread those flames throughout the 24story Building Police in paris now say they believe a driver deliberately rammed his car into a policeman as it droeve down the champselysees a rifle and explosives were reportedly found inside the car. A special election will be held in georgia tomorrow its become the most expensive house race in history. 46 million and counting polling shows the candidates neck and neck. The vacancy was created, of course, when tom price left to become health and Human Services secretary. Former fox news host, bill oreilly, says hell start his own newscast it reportedly will be available on his website some time before september. Oriley left the network in april amid allegations of Sexual Harassment and thats your cnbc news update right now. Lets go over to michelle with whats coming up on power lunch. Thank you, contessa coming up on power lunch, all the big tech ceos are at the white house. Are they about to become the targets of the white house because they wield so much power . You just saw kayla cornering some of them as they arrive. Eamon jarvis will also join us from inside the white house. And Thompson Reuters has named the countrys very best stock picker and hell join us with his very best ideas. And the ceo of the one of the Worlds Largest maker of industrial robots on why he decided to manufacture in america and head of the drone racing league. Well get the lowdown on the drl when power lunch starts in less that be 20 mitenus. Dont move, because the Halftime Report is back right after this commercial break. When you booked this trip, you didnt know we had over 26,000 local activities listed on our app. Or that you could book them right from your phone. A few weeks ago, you still didnt know if you were gonna go. Now the only thing you dont know, is why it took you so long to come here. Expedia. Everything in one place, so you can travel the world better. Dynamic performance, so you can own the road. Tracktuned handling, so you can conquer corners. Aggressivestyling, so you can break away from everyone else. Experience the exhilaration of the bold lexus is. Experience amazing. Looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Were back on halftime we return now to what could be the most important signal for an informers after hitting the buyer sell button. Lets go to dom chu. Whats this . Its tons of investor factors people look at, but this is the 50day average price or the 50day moving average some people will call it. Its the measure of a shorter term trend line for a market overall. If you look at some of the names and why some of the stocks are indicative for certain investors. Take a look at this one, first of all a big financial out there. Bank of america. The magenta line youre seeing here the 50day moving average, average price over that 50day span and stocks bumping in or around it cant seem to find a direction right now. Some people say if it does break out one way or another, it could signal other ways ahead. Maybe that trend continues lets take a look at another one. Gilead its been a down trend over the course of last year. Every time we bump up against that magenta line, we start to move lower you want to keep that in mind. It bumps into up resistance. Maybe you sell some of those positions off a little bit or trim one more on the buy side of things, on the technology front, weve talked about the qs. S the qq etf that tracks the nasdaq 100 if you take a look at that trend line, its been pretty solid over the course of the past year every time the stock or etf hits around there, its been a bounce or a buy opportunity scott, again, this is not the only factor traders are watching, but still, when youre talking about systems, this is one of those inputs that goes into some of those models, guys. Good stuff, john, thanks. Its interesting, youre watching the qs, in fact its important to point out that, these trendlines dont exist and then the share price hovers around it the share price hovering is what creates the trend line and so in the case that dominick just showed us with the qs, thats an area thats been reliable support the buyers have come in exactly where theyre supposed to. People say, i dont pay any attention to technical thats fine, technical is paying attention to your portfolio. And you have more algorithmic strategies than ever and this is a pretty classic signal that theyll use, if their shorter term oriented. You will see these kinds of things matter. They may not matter to a longterm investor i didnt the sell impressions we saw would abate just yet. And a lot of it is because of what hes mentioning with the algorithmic models you have the nasdaq, the ndx that approached the 50day moving average it had not been below it longest stretch since 1995, i believe. There are funds out there right now that because of the world that we live in, a lowvolatility environment, theyre going to systemically trade these things based off of technical indicators you want to see these things get further away from the 50day, because youre still in the warning zone, and if you do break it, youre going to see it fall look, i do look at technicals they dont drive what i do, but i do look for point of entry and also point of exit but i like, because im somewhat of a contrarian, when you see that finally really . Yeah. Shocked by that well, im sitting next to tony robin, joel osteen here who loves i do not love everything. So i would like to see when its positively inflected when youre seeing it go back one of the few people to make pete look small. I want you to walk across the coals with me. Heres what really matters look at the fundamentals, look at growth, then you look at technicals technicals is a part of it, but to me, its the fifth part the thing with technicals, you have to make an assumption theres a baseline amount of knowledge about all the fundamentals of these Companies Already embedded in share price. So what technicals can do is you can say, okay, if everyones aware of this news, this is where expectations are being priced for whatever the next news might be. Doesnt mean it gives you automatic buys and sells i dont believe the fundamentals are priced in a lot of names thats going to help drive the technicals what i dont do with technicals is say, if it breaks 50, then im selling it ill probably look to buy it at some point i dont think thats what youre doing but i think you have to understand what everyone else is looking at the market leisu 40 of th market is they all trade off of technicals. You have to know whats going on straight ahead, tracking one popular feed trend in the country. See how the traders are playing it next. And tonight on mad money, a reminder with jim, an exclusive interview with Goldman Sachs ceo, Lloyd Blankfein 6 00 eastern, onlyn bc ocn welcome back to the halftime show Popular Meal Kit Delivery Service blue apron to go public expecting 15 to 17 for ipo price. Thats a valuation of about 3 billion. This brings us to our senior economics reporter Steve Liesman with his allamerica Economic Survey and theres a hook which is why we talked about blue apron first, steve we also want to talk about bezos and give you data when it comes to investing in food stocks to chew on. Show you eating out. Are you eating out more or less . 1 in 10 call it eating out more but 1 in 4 eating out less what part of the business is bezos going into the part aboutiting at home. 63 say its the same. We asked this 25 here, why are you eating out less . Heres the results 52 say because its healthier to eat at home what part . Healthy foods. 35 say the food quality is better there 31 say to save money. 10 for other reasons. Now we also asked about the kind of online food experience. Have you used an app or gone online to order foods from local restaurants using grubhub or seamless 12 of the public. Have you just ordered it to use it to get grocery delivery 7 and theres blue apron 5 of the public all combined, about 18 . Call it 1 in 5 have used the internet or an app to go online and order food i think if you look at these two areas here, blue apron and grocery deliveries, theres a lot of room for growth in both those areas. Forget about living in new york. The whole country has a lot of room for growth. Charlie evans tomorrow . Yes charlie evans, chicago fed president. Well be talking to him at 10 40 tomorrow morning steve, thanks lets talk about these stocks you need to worry about Restaurant Brands like you do supermarkets all of a sudden why are you glancing at me sideways i saw that couldnt get just thats fine let me quarterback this. Just purely on technicals, still, its amazing. The best setup in all of the publicly traded restaurants still is mcdonalds. And its global. Its not just about whats going on here. But it just looks that up trend is so pristine each time it gets oversold it backs off just the right amount. The buyers come in the worst, Buffalo Wild Wings continues to bang down on support which is about 125, 130. Thats going to break below and i really wouldnt want to be there. Change the ticker from bwild to bout at that point ill see you mcdonalds ill raise you a dominos i think dominos also technically perfect. One for lunch one for dinner and breakfast, too, for you. I think dominos is a place dunkin is a name that i own. What looks horrible to me is brinker. Thats chiles, magianos 18 to 34, they dont go there. Retail traffic stores near the malls. I wouldnt touch brinker dominos has the best technology in the business its just so expensive so i cant go near that i do like dunkin massive expansion possibilities across mississippi noodles, red robin, short those things they just dont have the Value Proposition because theyre declining. Have you seen coffee prices starbucks . Theyve got margin thats going to be incredible you look at coffee from november to now and if you want to stay away from something, cake. They just blamed weather any time somebody blames weather, forget about emth well do final trades on the other side the power of a proven 15year track record. The power of an etf. The power of qqq. The thinking we put in, clients get out. Power your clients portfolio at powershares. Com qqq. Before investing, consider the Funds Investment objectives, risks, charges and expenses. Call 8009830903 for the prospectus containing this information. Read it carefully. Distributed by invesco distributors inc. Co large boat honking ation. Read it carefully. Im living that yacht life life life life top speed fifty knots life on the caribbean seas its a champagne and models potpourri on my yacht made of cuban mahogany gany, gany, gany watch this pete, youre first we didnt talk a lot about Financials Bank of america, theyre buying. Huge up side this week expiring keep an eye on that. Youre still oz pipositive o space . Yes. Ill tell you about blankfein tonight with jim dont miss that. Im going with facebook this is just a juggernaut. Should be up there with google and amazon hate to repeat but i also like the banks buying kre here. The treasury report outlines significant changes are coming ahead and thats going to be a big earnings boost for the banks. You asked josh for an alternative to ge. Id give you noc josh . Jpmorgan. This is my favorite 100 stock that currently sells for 87 i dont know when, but i think thats ultimately where its headed good dividend support and buyback. Good presence in every area of the economy. This is such a good name here. I like it. Pretty good monday for stocks the Dow Jones Industrial average hitting another new alltime high ahead by 114 points. That does it for us. Power starts now im michelle carusocabrera. Heres whats on the power lunch menu who is on the menu cook, bezos, na della. Many of the biggest tech ceos are meet with trump at the white house. Is it going to be a friendly gathering or about as comfortable as a weekend with the inlaws. Mine are lovely, by the way. Is amazon just getting too powerful which retailers could be the biggest losers all that plus jobs and the rise of the robots. The ceo of one of the worlds biggest producers of industrial bots tells us what hes seeing and why hes manufacturing
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