The numbers, not talking about trump rallies, any repateuation yet, any of those tax reforms, the raw numbers that people have delivered. When you look at apples numbers, blew it out. People had no idea they would do as well as theyre doing. Services being the focus. Look at microsoft for instance. You look at the earnings this quarter so far, from the technology sector, it makes sense thats a leadership. Is this too much though, joe . Are these stocks getting out of control . I tell you, the nasdaq 100 up is 17 year to date. 6. 5 in a month. No, its deserving given you could check the boxes, growth, future earnings. So i think you dont get a complicated strategy here. Youre not looking to get in and out of these names. I think you want to look at opportunities. Theres names out there. Amd, with john and josh talked about. Earnings didnt look like they were so bad. Analysts say the stock recovered, i think thats a name and twirt is back up 19. I will buy twitter in the nekts day or so. Absolutely. Its making a recovery that looks really good. You can feel comfortable, josh, buying those names i mentioned as they hit new highs every day . Scott, do i ever look comfortab comfortable . This is the type of tape where something terrible happens out of the blue. Just trying to enjoy it while it lasts. Right now, not impressive when you look at the global opportunity set. But blue chips in the u. S. And around the world with just going bonkers, any company right now with a decent dividend, buy back program and some Earnings Growth is being paid for at a much higher multiple. The xux at a 52 week high. The breakout is global. Up 17 in less than five months. Eem up almost 20 , so its global. Is it just a tech rally here in the u. S. , no, look at the all time high list. The 52week high list right now as im talking. Mcdonalds, thermal fisher, unileaver. Total, santa fe. Its blue chips around world and ik what that speaking to is not complacency. People have more faith in zuckerberg, think, page, cook, bezos than in the white house and congress, the eu. Were defie iing the large corporations that have managed to make it through. Our question though weiss is whether an apple, up 35 year to date, facebook up 31 are too rich to buy here. Arguably, too rich to buy. Up 15 , up 20 , that that sount hasnt changed. What youre betting on is that the market continues and this this leadership continues. I dont think thats a bad bet to make. I do think there can be a black swan event out there. Not to be controversial, i dont know why this time i wouldnt be. But maybe its zwl. Somebody is asked me this question and i dont feel like i have a strong pin, but you might. If we get one of these events, does apple, amazon, does that complex of names, does it do worse or better in a reintroduction of volatility . Better. I dont know why. That those are also safety. So heres whats happened in the market. Is that Political Risk doesnt exist anymore because weve lived through so Many Political events. Since 2011. Starting europe and weve come through them and gone higher. Thats why people are imp pervious. So, if youre buying a strengthening global economy, which is what you are, whats going to work there . Tech. People are much more comfortable buy iing the names that resogna with them t names they know and pms are very much comfortable chasing performance to this point because theyre fighting for their lives in active management that these stocks will keep going. Good reason. Theyre delivering on fundamentals. Valuati valuation, thats been the story and you cant invest in black swan events. But these names that i mentioned, those five, whether theyre the fangs or other wise can just continue to keep climbing as a result not alone. Look at sales force, adobe. I named those. Just beyond if we were playing nifty fifty games like in the late 60s, if it were just five stocks, i would be very concerned. The fact its broadbased and every time you want to get bearish, i listen to wangs keynote address. Hes the ceo of nvidia. He gave a keynote address that every person in the Technology Industry was glued to. It happened last week while everyone else was obsessed over james comey. He was laying out a blueprint. The things this company is working on and its expansion of its total addressable market. Tens of billions of new opportunities for chips. Thats why youre seeing a stock like nvidia do what its doing, but not just nvidia, its comprised of dozens of stocks that continue to make new highs because the tam getting getter bigger, so people are willing to pay an increased multiple when theyre looking at a company that might have a whole new slate. I would keep your eye on what happened here over the next couple of days. In february, the market got above 23 o 00 and after a couple of day, people believed the story. Fek tek cal folk, came in and drove the market higher. It never looked back. Are we going through the same type of technical formation here at 2400 . That might just with the case because keep in mind, we couldnt get above this 24 00, now, were this. Just wondering what can stop the market. If hardly anything out of d. C. Rattles the stock market. Yeah, i mean, theres something out there and its something that right now, its probably right in front of us. Politico out with a piece today talking about the agenda of the president being delayed until 2018. Then what could that be in 0 2018 in until chen, once you get towards 18, maybe youve got incredible catalysts towards you. Maybe the market doesnt neepd the agenda as much. I agree with you. I think there are Better Things going on. When we go through these and start to hear some build rs and airlines and railroads and you start getting caterpillar and deere and look at these names that are performing and the tech space and financial, everybodys like, well, the financials arent really going anywhere. They went up 25 before that. Its okay to pause. When youre talking about tech name, what is it thats going to get them going higher . How about the fact people are going to have to revalue them because mike isnt the old microsoft. They are. Maybe the trump agenda instead of being the ice cream is just the cherry on top. The longer it gets pushed out, the better, he hasnt endeared himself to a lot of people and has these noises in the agenda with with comby and others that fray that delicate coalition to start 52. Heres the other point on technology. Youre in a slow growth u. S. Were fight iing to be at 2 , slightly above 2 . So, if you want to bet on growth are you going to guess whether some of the industrials like steel is going to go and reinvigorate itself . No. Then it goes how much of the tech gains do you think are due to repatriation . Expectations . Is. I think its all none. Its the removal of the protecti protectionism fears. When everyone was walking into trump tower after the election, what technology did, it sold off because we were worried that globalization was going to go to the wayside, protectionism was going to come in. Its negative for a technology sector. You talk about the trump policies not being enacted until 2018. Goldman sachs had that note out at the inning beginning of the. The risk is that this does occur. Thats the risk to the upside. Lets talk about another technology stock. If you want to call it that, that had a great year. Tesla. Check this out. Morgan stan dika pitchlating on the stock. Downgraded it to equal weight. Adam jonas is the one there, maybe the best known one that covers that company. It can become the next amazon or apple. We see such if you remember firm as competitors. Its a big deal because of the angel cyst. That was a story 200 points ago and 1 is 00 points ago. Now, its more realistic. This is another where it makes sense. Either youre there because youre a a true believer or youre not. This this a wake up call to tesla owners. I talked to some tesla balls and theyve been dead on the stock. Ive been os rated between wow, it would be great if this company does all they were going to do. But skepticism that look frankly, they look antishareholder when he first does them, then the shareholders cheer, so you dont know what to make of it. Its trumpian, actually, the tesla bulls are focused on solar rooftops. They want to talk about the fact that smooth and techtured ones, theyre talking about a new tam of homes and tesla is going to throw out that whole paradigm of selling door to door. Of something that goes on top of your roof and just selling you the roof and when you look at what they want the to offer it for, how they want to sell it, frankly, its appleesque. They want you to walk into a tesla showroom, and oh, whats the story with your roof and what if we could change that equation. Not saying this will come to pass, but there is truth to the possibility that this could far yoet grow just being a car company. Its a stock up 50 year to date. Its shocking because the fundamentals have not improved d by 50 this year. Is this, is this fund men falls for many have not mattered. If the fundamentals mattered, the stock wouldnt be at 318. If its going higher, this is also. Its just hyper charged because the short interested youve pointed out. People look at it as a tech stock quite honestly. People say is it an automaker . Its a tech stock. But heres the other problem. If adam is right, i was talking to him about this, he was talking about china. Hes concerned that they can get the progress in china that they need to get. Thats going to be one yeah. Why are you holding out on us . Like a week and a half ago. Good man. I think you were talking to nick jonas. Wooir going to take a break. Heres what else is coming up. Cyber attacks lead to cyber tunty. The sector is popping today. Next up, well go through the list. And the etf that holds the big names, hsck. Plus, the stocks to get ahead of before this weeks quarterly reports. Were talking walmart, home depot, tj maxx and deer and pete sees unusual activity from the Options Market in yet another big name. See if this leads the stock higher or lower . The heem are back in two minutes. 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. Our 18 year old wase army in an accident. 98. When i call usaa it was that voice asking me, is your daughter ok . Thats where i felt relief. Were the rivera family, and we will be with usaa for life. The shlike a bald penguin. How do i look . [ laughing ] show me the Billboard Music awards. Show me top artist. Show me the top hot 100 artist. They give awards for being hot and 100 years old . Well take 2 [ laughing ] xfinity x1 gives you exclusive access to the best of the Billboard Music awards just by using your voice. The Billboard Music awards. Sunday, may 21st eight seven central only on abc. Shares dropping as they announce a new short position. Andrew left joins us on the phone. Welcome back. Most important report in years you say. Thats not a little hiber bolick, so it . Absolutely not. This report goes beyond just the stock market over e the past two hour, my phone has been ringing off the hook with Hedge Fund Managers not talk iing about money. But rather about the importance of getting a colin os ko pi. I woke up this morning, i saw brad gray, hollywood legend, died of cancer. Its serious. If your insurance covers it, get one. No cute commercial, no a alternative science. Get it done. And thats it. Youre suggesting that the product from exact sciences doesnt work. Thats the charge youre making. What evidence do you have for that . I have their evidence. They did a study with fstand ford. It is inferior to the standard of care. Thats them saying it, not me. Its an b inferior test theyre trying to compensate by running commercials for people who are afraid to get a colonoscoy. Normally, im on your show, i talk about medical company, yes, but theyre making money. In this case, theyre losing money, selling an inferior product and trying to have people think there is an alternative, so whatever this ceo can say, listen to your doctor, not me, not him. Go to your doctor when youre 50. Hell pep everybody whos listening with steve or guy or anyone on the show, your cohosting, when 50, they are going to listen to their doctor and get one u. You say your shortterm target is 20 with a potential zero. What leads you to believe this could be a zero . Zero is easy. If you just go think of what the world is going to look like in five, six, seven years, blood based dna cancer testing is the future. No doubt if you look at the amount of money. We might look at pooping in a box sykes sixth years from now and laugh. Theyre not going get profit bable until 2020 and even by then, this might be a complete dinosaur. This is a product unlike anything ive written. Tomorrow, if valiant went away, there are people who are dependent on the medications owned by valiant on the assets. This company could go way wii tomorrow. And it wouldnt make a difference. Maybe would people start getting more colonoscopies or use the fit test. Were going to bring in on the phone, kevin con roy, chairman aceo of exact sciences. Are you there . I am. Whats your experience . Andrew is dead wrong when it comes to detecting stage one cancer from blood. It has been shown in study after study after study that bonlgically, that doesnt appear to be possible. And for that reason, blood based test is very unlikely to ever display any other test. You want to detect stage one cancers and you cant do that reliablely from blood. The most preimminent guidelines have said that colo guard is a parody with the other screening methods. And so, again, mr. Left is dead wrong. Are you saying that your product is im not dead wrong. Its his study. Go look it up. Google. St stanford, gast row journal, 2016. Mischaracterized. That study. What that study says is with greater compliance of colo guard versus the chemical test, its Cost Effective relative to the fit test and so, he again hasnt solely die jested that, but that is what that study says and it is without to not contest the fact that overlongterm, the study shows that 14 of people when encouraged will complete the fit test on a regular basis, so again, the most important thing is to get screened, the guidelines say that the tests are all good options. We think colo guard is great because it detected 94 of curable, curable stage colon cancers. With the specificity of 87 . That is makes it a rational front line Screening Test because remember, colonoscopies for the main group, and basic ones only detects 95 of o colon cancers, so we leave this up to physicians and their patients to choose which test is the right test for them and it should not from the results. As you can see good the results, the number hoang on, andrew, so, we thik mr. Left is were comfortable as we look out over the course. He said hes going to cause some people to lose money hes saying something dangerous, hes saying the patient should choose. No, the patient should listen to their doctor and doctor should choose fchl you look at the numbers from orders per physician and Everything Else it shows you from the doctors are not choosing. You can run commercials but a patient shobt do it. Thats it. Okay, now im going to jump in at this point, im going jump in because there is an article in barens from about a week ago which says why exact sciences is soaring. They did a study where they spoke to 50 primary care providers to understand what was happening. With this product. It was viewed the product was as having the highest rate out of all Cancer Screening options that were out there. They also note of those surveyed, they would expect to use this product 55 of their eligible patients if guidelines and reimbursement were sufficient. Theres another study that talked to 100 physicians. More doctors are prescribing this product. These studies are talking small percentages of doctors, look at the companys numbers. Its all right there. If physicians want to prescribe it, the orders per physician would be going higher. Thats the first thing. Second thing is this company is losing money as it is. Wait until a medicare funding goes lower next year and most importantly, look at united health. The leader in managed care said this is medically unnecessary compared to the comparisocompar. I still hope your viewer, you and kevin himself goes out and gets one when hes 50 years old. Do not listen to a commercial. I greatly appreciate your passion and that you want people to get screened, including me. The preimminent guidelines to many in america came out and said the most important thing is that doctors and patients have a conversation and have joint Decision Making in this. And they included colo guard and colonoscopy in that conversation. Remember that 50 , about 50 of americans are not adequately screened and so, this importance addresses a really important need. 45 of people who have gotten a test have never been screened. This is a wonderful andrew, andrew, you hold on. Andrew. Is way behind colo guard in developing it and we think that there lefts cent, we think, we think, superficial analysis is wrong and we think its going to continue to be proven wrong. Youre not suggesting, andrew. Im going speak. Just wait. Mr. Con roy, are you telling us and our viewers that your product can detect polyps for example, a precur cory sor to cancer . Our study shows it does, not at the same rate as colonsocopy, however, the guidelines are starting to indicate that the use of a test like colo guard more frequently than colonoscopy, but we think like a pap smear, which only detects 50 of cervical cancer, over time, would start to pick them up and they would be able to be re3450u6emoved. Those pop ips take ten to 15 years to turn into cancer. You have a long time to catch them. But over 90 Cancer Detection and colonoscopy by the best guest is about 95 . So theyre similar in terms of the overall sensitivity. Short, but youve just admitted though that your product does not detect precancerous polyps at the same hit rait that a colonoscopy does when the medical community considers it itself to be the gold standard, not a colo guard. Heres where youre wrong f. You look at the guideline, these guidelinens dont call anything a gold standard, they say you have a multiple options and the key thing is to get screened. Again, ill just point you to a simple fact. A significant, approximately 30 million americans in the screening population have never been screened. Innovation is absolutely critical. Then i have one final point before i have to leave here because im standing outside a plane to board, one critical thing, your analysis is wrong about the pama calculation of median price. Its not the average price. Look at that statute and the implementin