Later the analyst is here to make a bold case on why they will go as high as 500 a share. Will you not want to miss. That first we start off with breaking news. This hour to repeal obamacare. Hi, elon. Reporter hi, mellissa. The president says the vote in the house for obamacare was a sign of unity and show they can get things done and tax reform is coming up next. Were going to get this finished. Then we are going. As you know, we put our tax plan in. Its a massive tax cut. The biggest tax cut in the history of our country. I used to say the biggest since ronald reagan. Now, its bigger than that. Also, pure tax reform. So we will get that done next. This really helps him. Before we can get to all that, there are still a lot of pieces that need to fall in place t. Senate needs 51 votes to pass through the Upper Chamber using a process known as reconciliation. The bill thats expected to undergo major changes along the way. Majority leader Mitch Mcconnell said the status quo is unacceptable, but an aid said he wont bring this bill up for consideration until we get a cbo score that offers a little more clarity on exactly how much this bill is going to cost. Meanwhile, another republican senator, Lindsey Graham of South Carolina put out this tweet saying he was worried the house process was rushed and he urged caution on this bill Going Forward. So, melissa, republicans today are taking a victory lap, but there is still a lot of work to be done. Sure s. Ylan, thank you. Now the first steps have been taken to repeal obamacare and the vote is headed to the senate, does this mean the tax reform could be closer than we think . Why did stocks react practically at all today, guy . Amazingly, we have been here a couple weeks. The vix is still below 11. There doesnt seem to be a lot of fear out there. To answer your original question, yeah, i think we are a little closer. I do think when this gets to the senate, it will be dead on arrival. We have a lot of work to be done. It gets people excited. Gets you the financials, which pete has talked about and tim did a segment a couple weeks ago, where they actually talked about 23 the xl being support. I encourage you to go back and look where its stopped. I encourage you to go where j. P. Morgan stopped. We said collectively. It stopped dead at 84 t. Financials are saying, i think, that maybe something does. They definitely look at the yield curve, too. You had yields which got down to 2 ferrari, 223, broke t levels. Can you make an argument that the Global Growth dynamic, which at least should put strength in the bond market is happening. Also, we went from way oversold to way overbought, also in terms of the concept of what these guys can get done. Your question, mem, is why isnt the market responding . Are you kidding me, why wouldnt we respond . I think the hyperbole we get from these deals, there is no faundation saying it is going through. I think its a crazy question to ask, why didnt the markets respond, every single time an administration guy says the words tax reform, we have responded in the past. Which then leads me to think maybe by now the Market Participants are inured. Nothing happens until it happens. No, because they dont believe its going to happen. Lets see the o score is going to be a disaster. You think this is dead, dead, dead on tax reform . Again, positioning is important. Look at the way the stocks reacted. If people believe this was going to get pushed through the stocks would have been destroyed. There is no chance this gets to it. It actually does push out tax reform to 2018. It is a problem. That is my Biggest Issue here. I said it clearly, i have been bullish in general. We said take your foot off the gas, be careful, people may see donald trump in the newspaper with his hands in the air, we got this through. Eighth point on the board, its not a full point. You sound like it gets mired in reworking this bill. It doesnt pass and it gets even more, or its dead, dead, dead on arrival. Until money comes . Its dead, dead, dead on arrival and tax reform comes forward. Its an issue. We need a better scenario. Id love to see that happen. Io enthis is dead, dead, dead, i think this stands out there. I tell you what impressed me today is the care providers, did you see humana . 52week highs. This is a name i argued about on the pitch, not too many weeks ago, talking about what these guys are doing. How their earnings are shaping umm. The plans as they move away from obama kir. I tell you what, when you look at the markets, you say the markets hasnt done a whole lot. How about the pressure from energy, pulling, pulling, pulling. Yet, here we are virtually on highs, because of the financials, because of many of the industrials and technologies, how well they are performing. Its a fun flow. Its important to keep that in mind. They have been indicated by the retail investor. They have been driving the market up. In general, about optimism for the trump inflation trade. People will wake up tomorrow and see donald trump checking the box. Think its positive when, in fact, we are discussing on the show right now a delay in tax refo reform. All the sharp pencils are looking at this tape and say we know what is going to occur. What is pushed out. Isnt that a positive . I dont expect anything to get done here. Im impressed by the price action that tells me passive flows are possibly supporting it. Pete brings up oil, one of the reasons why oil is not taking the market down, first of all, people are not implicateing the banks or imputeing this as a credit move. They are calling it an oilrelated move and energy is a small percentage of the indices. Thats why its not moving stuff around. Its seemingly, the French Elections are over. They do happen this sunday. Now it seems to be a foregone conclusion that le pen is going to lose. Yeah. Im not so certain anymore where we live today. They had a very interesting debate by the way. Its another pile of uncertainty on top of i think that election hangs, not that im some French Election expert, it seemingly hangs in the balance. Although, you do speak french fluidly in the green room. Bon jour. The one pushback id have for you dave is how about a fundamental story of what we we heard so far . The banks. Those are almost spectacular all the way across the board. Many industrials, pretty phenomenal. Now we got technology, these numbers have been very, very strong. A lot of beats. So i think that there are fundamental facts out there that we can lean on to say why the market is where it is. My only plan, i dont see the markt market crashing. I dont see the impetuser it to go higher. I think you will find other better levels to find stocks. Lets look at the introduction of wall street. Oyou are next guest back in february. The s p 500 is hitting 400. You would have made a lot of. The s p 500 gained 5 . He now says 2500 could very well be in the card. Why and what will take us there . Marco joins us with his predictions. What is it going to be for 2500 . Well, i think you need a tax reform for 2500. So basically, we are saying the risk or balance here actually. On the Positive Side. Have you this promise of tax reform that could add certain amount of dollars to dps. We think about 10. That happens the market will reprice higher. On the other hand, you have negatives as well. Have you this weak season in front of us to sort of may go forward typical at times, could be a season marred by equity outposts. For 25 humpblths we do want to see some stories. We saw the vix was very low, in fact, it went below ten, ten years s. That a positive that allows you to stay in the market or is that a nelgstive in that it draw negative in that it draws in equities for outside response if there is some sort of selloff . So historically, it was actually positive. A low volatility means a low volatility. It tends to be more sort of smooth sailing. Right now, im not 100 sure because its really low. We do see quite a bit of an increase in to these strategies. I think if you do have a cataly catalyst, something unexpected. You could prompt people to go short or high. If its positive, i wouldnt look at it as positive. In terms of the low level. Correct. We are in uncharted territory. We still have a strong support to from central banks. Large inflows. On the other side, sort of a volatility is extremely low. It seems to be a bit of a disconnect sort of in the market, in the geopolitics. The catalyst, seasonalities. So we are a little bit kind of taking a pulse here, not taking low volatility. It could be a negative. You said 2700 if we get tax. What if we dont . So if we dont get tax t. Good news is earnings are relatively strong. So we are looking at 128, 129. So if we dont have a tax market could say here. What im a little bit more worried, you know, if we have a weak season and lets look at the pair of number tomorrow. If the markets, they have keep on sort of weakening, the fed still pushes forward with hikes. I think that could spook the market. You could have a selloff. That could trigger de levering. The normalization for the feds . Exactly, right in europe and japan we have Balance Sheet expansion, in u. S. , basically the tightening comes through hikes. So both of those effectively remove the stimulus. I say they have a similar impact. Two historic indicators, commodities, copper and crude oil both trading miserably. We can argue why, when do they matter in your ewhatition . So coverlation between oil and equities is positive so i myself am a little surprised why the market is not reacting is clearly sort of not looking at those as indicators of Global Growth but rather commodities situation. There is some increase in china. Its sort of just starting to happen. We will monitor that in addition to the others i mentioned. Marco, thanks, for coming by. Always 22ed to see you. How do we state . I think the reality, not oil, volatility, even where it is right now as low as it is, it is relatively high to the movement in the marketplace, believe it or not. It trades at such a narrow band right now to the last couple of weeks. If you look at where we are trading. We should be tiradoing at 7 or 8. I dont care about that. I think there is enough Political Risk out there and so forth that i think youd want to own volatility right now, to have that protection, so you could stay in the market in case we hit that 2500 number he was just discussing. Yeah, i think that said the greatest fear right now on investors minds is the risk for an upsides market inflating higher. Thats the biggest concern right now. So look, it has to be a catalyst. The catalyst on the Positive Side needs to be tax reform. Until that occurs, i dont see it hang. I dont see a lot of downside risks. I see upside risks. It sounds like the only fear is fear, itself, someone said. Look at europe look at the dax the euro stocks are up 150 basis points the dow is rallying against everything other than the euro. You should say no to that. Do you think equities should follow the commodities . I hate to use the term de couple. To marcos point, i think equities are headed one point, for fleetly different reasons. Tim mentioned the dax, i think it closed at an all time high, that level was critical. We get close above it today, worth watching. Coming up, Energy Stocks the worst performing sector of the day and the year. A top technician has three screaming names that say buy. Shake shack, shareholders getting burned, down about 10 t. Ceo pointed to one of the lamest excuses in the book. We will tell you what that was. Later, shares of teslas thinking, adam jonas says the stock was going to 300 bucks says it could get 500 bucks. Hell be here shortly. Fast money is back right after this. You always pay your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. And if you do have an accident, our claims centers are available to assist you 24 7. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance hey youve gotta see this. Cno. N. Alright, see you down there. Mmm, fine. Okay, what do we got . Okay, watch this. Do the thing we talked about. What do we say . Its going to be great. Watch. Remember what we were just saying . Go irish see that . Yes im gonna just go back to doing what i was doing. Find your awesome with the xfinity x1 voice remote. Welcome back to fast money. We have an earnings reward on shake shack. Its down more than 10 . We were down 13 in after hours. A big shock following sales at shake shack. So you wonder, is this still a cult brand . Well as a result of a negative forecasting flat sales for the rest of this year. Shake shack says they are clearly dissatisfied with the First Quarter sales decline, blaming the bad weather, the holiday shift in march, also a tough compare to last year when they successfully launched the chicken shack, they called this still ongoing at this point. They said all theyve unravelled in the back half of march going into march. They said same sale stores were you are 2 , believe it or not and you have to throw in higher labor costs because a lot move states raised the minimum wage, hence, at the start of year they had to do the same and raise shackplace prices believe it or not. On average, 6 , mobile is a bright spot, launching their mobile order and pay gearing umm for 2017 with promotions, including give aways of 90,000 burgers and shacks in february. They said 500,000 of burger revenue was unrecognized on earnings that impacted First Quarter numbers. Shake shack says the app has been downloaded 200 times since the launch. They hope to go more nationwide First Quarter, as you say, with the stuff priced to perfection at 60 sometimes earnings, you have to show the numbers for the First Quarter, it looks like things are disappointing. Back to you. Thank you, shake shack feeling the pain, despite having a product that people really love, similar to the gopro story, great product, bad stock. It probably is, the one difference id say, how about when she mentioned the one important thing of that segment. Its multiple. Trading at 60 times, when have you negative food traffic. You have a multiple like that you talk about target compression raising minimum wage, all the varies effects facing them, shake shack is the cult here. When i say here, i mean in new york where it started. Right . When you bring that to the midtweft west, theyre looking at a 5 and 6 hamburger. There is a lot more competition. There is a brand out there. All kind of competition out there. Nice. Because of that, its very, very difficult competition and they bring up mobile. Their mobile is far behind mcdonalds and some of the rest of them that have been pushing in that regard. I think this was a classic hump and dump. We talk about this when he was 70. The way they valued. Who is they, though . It sound like something bad is going on. When they were talking about comps and Going Forward in growth, they were talking about investments and store option, they started off at Madison Square park and new york city and moved to chicago. The management is buying the multiwel, right . Its a very high traffic, high area in new york city. Chicago, las vegas. Its what everybody knows. Iowa street traffic is not man hat tan. Your consumers will have growth. You are investing with a declining marketable. Its not going to be there. There is no reason this stock should be. This is mentioned 60 times the multiple. Cng. Whats the multiple . 140 something . Would you rather . What would i rather . Cng all day. And twice on sunday. You have a place here, too, its not fine kind of the specialty burger space. Are you at a place where there is five guys, whatever guys are eating burgers. When is the taste test . The multiple is unsustainable. Look at whats outperforming . Mcdonalds. Across the board, nobody likes the shake shack. As a burger. Love the product. By the way, quickly, its been either side of january 16. Its headed toward low to mid20s. All right. Still ahead, cvs, volatile in after hour session. We will hear from the ceo later this hour. You are watching fast money. In the meantime, heres what sells coming up on fast. This is proof. This is what they did today. But there are three oil stocks that may have just touched the bottom. Well give you the names. Plus the man that says e said tesla would hit 300 is back with a bolder call on the stock. He will reveal what that is when fast money returns. And markets continue to rise and fall. Predictable is one thing you need in retirement to help protect what youve earned and ensure it lasts. Introducing brighthouse financial. A new company established by metlife to specialize in annuities life insurance. Talk to your advisor about a brighter financial future. [ music playing ]. Welcome back to fast moisture. We are live at the nasdaq markets. Cbs out with earnings in the postmarket. That stock slightly higher. We will hear from the ceo and later tesla shares sank 5 . Fear not. The analyst called for the stock to hit 300 is back. He says the run is far from over. First, oil having its worst day since november 30th of last yoomplt get a break down on the move, a man whose spirit never gets crushed. Dom chu. Hi, dom. It will take more than a crude crush to get me down. Just like when traders realized supply and demand dynamics arent favorable for higher prices. This week we saw u. S. Government numbers that showed a smaller than expected draw in u. S. Oil inventories and got softer demand for gasoline numbers. No surprise the bearish action oil prices filtered into the oil stocks as well t. S p oil sector was the worst performer in the large index by a wide margin and the vast majority of the days biggers laggers were oil and gas related overall by exploration and production stocks, like chesapeake energy, marathon oil, murphy oil, amongst others. Around half of all members of the Energy Sector can be characterized as being in bear market territory or at least 20 the recent 52week highs. Even then, Energy Stocks still pretty expensive on a valuation bafgs the sector as a whole traded 28 times forward earnings and 33 times last 12month earnings and still its also the worst performing sector so far this year. Today didn