wild. >> he gets it right sometimes. >> cnbc interview with price line ceo jeff boyd. the company is drawing profits in a tough travel environment, the stock doubled in price this year. keep it here on "the call," we'll do it all. i'm racing cross country in this small sidecar, but i've still got room for the internet. with my new netbook from at&t. with its built-in 3g network, it's fast and small, so it goes places other laptops can't. i'm bill kurtis, and wherever i go, i've got plenty of room for the internet. and the nation's fastest 3g network. gun it, mick. (announcer) sign up today and get a netbook for $199.99 after mail-in rebate. with built-in access to the nation's fastest 3g network. only from at&t. >>> you know the price of gas is up 10 cents last week alone attachment a look at crude oil up $0.37. >> thanks, trish. the government's role in the economic crisis. a piece in the "new york times" saying big government saved the u.s. economy and the budget deficits are, in fact, good. in an interview he's calling for a second stimulus. take a listen. >> we should be willing

playing with the house's money. that's our goal always. jeff in new york? >> caller: boo-ya, jim cramer. >> boo-ya, jeff. >> caller: i want to know how about advance micro devices? >> everyone has written it off. everyone has decided that the split's not working. i think it's premature. i think the stock had a really big move, it's cooled off, but i like the new business plan. i believe in amd. i don't think it's too much to expect that stock to rally to six bucks by year end. all right. we're trying to make some sense of the market and making sense by looking at individual companies and staying on the home work there rather than the top down gdp retail sales which don't mean anything in cramerica. "mad money" will be right back. >>> coming up, can a new name in health care write you a prescription for profits? cramer is giving one stock's debut a complete examination on "know your ideal." >>> plus, could the turn-around in one takeout stock mean extra value for your portfolio? jim is serving you up a fast food jin that could come with a side of mad money. >>> i think we're right

am joined now by jeff klein, top chief market strategist at lpl financial. we also have bill webb, deputy cio at gluskin schef. and cnbc's rick santelli with us as well. jeff, let me start with you. why do you think we gave back at the close here does it mean anything or just i little profit-taking over the weekend? >> i think the muted response to much better than expected data is important. this is the best non-sfarm payroll we've seen since back in august, prelehman brothers failure. but look what's priced in, high yield bond spreads, corporate bond spreads are also back to prelehman levels. today's data just confirms what we already know. and once the market's fully priced in a recovery there's no more wall of worry for the market to climb. we're not there yet but we're getting close. >> i don't know, bill, if i buy it was a muted response. look where we've come from from march. >> it's been a very impressive, very impressive bounce in the markets. our concern here is looking at the data today was certainly impressive on the surface but if you scratch below the surface it look

, equity strategist with miller tabak. thanks to both of you for joining us. jeff, what do you think? you think we're due for a pullback here? >> yeah. as you know, we were on the show march 2nd saying every indicator that my dad and i have says the market bottoms that week. since then we have been steadfastly bullish often commenting we think it's a mistake to get too bullish. that said it looks to me like things are pretty stretched in the near term. but i don't think it will be a serious pullback and i think you'll get a rally too before the end of the year. >> so you think we're going to pull back here within the next week, two weeks, something like that? give me some timing. >> within the next two weeks. 96% of the financial stocks are above their 50-day moving average. that's typically pretty overbought. >> okay. but then you think we're going to rebound. so sounds like that might be a buying opportunity for your favorite stock. >> that's what i think. i think the upcoming third and fourth quarter earnings comparisons are going to look pretty good. >> peter, what do you think?

morningstar four-star-rated industry leader investment fund. we also have jeff davis cio of lee munder, boston-based investment firm that managed $4 billion in assets.. thanks to both of you for joining us. virginia, i'll start with you. what do you think of today's action? >> what we like to say is we see the market going up. it's great. the cash for clunkers, whether you believe that the 2 million's going to be approved or not, it's been a great deal. it's gotten people looking into the market. it's gotten people looking into opening up their pocketbooks. and i think this is just going to keep this bull market going. >> yeah, jeff, do you agree with that? >> yeah.h. i feel pretty good. i mean, 50% rally off the bottom is just about average now for a market rally off the bottom historically. so that's good. it hasn't done it with any economic strength or in the earnings we've just seen are not revenue driven, they're expense driven. but you know, that said, you know, it's wait and see. the market's going to have to earn it from here on. >> virginia, jeff says it's not happening

funds. jeff mortimer chief investment officer with charles schwab management. nice to have you on the program. thanks so much for joining us. jeff, let me kick this off with you. what are you doing in terms of investment strategies over at charles schwab? >> the rally has certainly been powerful. it's been a wonderful move off the march 9th lows. we continue to be constructive on this market. i think the buy the dip mentality has diminished, and i think the market is not giving even people that want to buy at lower prices even a chance to get in. we have been dollar cost averaging in, we continue to stay aggressive here, even with this move. >> do you agree with that, david? what is it that might sort of get you to take some chips off the table, given the valuation? or do you feel this is justified? >> yes, maria, we do agree with jeff. you know, everybody's been waiting for a correction, and we really haven't gotten that correction, and there's a lot of money sitting on the sidelines. so that money is coming into the market. more importantly, though, what is happening in the market i

the home state of pennsylvania. let's speak to jeff. jeff? >> caller: hey, jim. >> how you doing, jeff? >> caller: a question for you. before my question, i just want to thank you. i want to thank you for that day a while ago when you made an intentional decision to not just have a job, not just to make -- have a career, but to leave a legacy behind. the legacy that's bigger than yourself, man. >> wow, thank you, jeff. i know, i often ponder, why not just go back to being a hedge fund manager? boy, i tell you, that's like, whoa! but you know what, maybe there's something else to it. maybe there's something else to life. so i appreciate that. what's on your mind? let's make some money together. >> caller: absolutely. absolutely. hey, i got some stocks i think a part of a seasonal rally. how can i tell whenever they're definitely just part of a seasonal rally and whenever it's more of a long-term trend that i'm following. >> great, great question, because i've been faked out by seasonal rallies at labor day. i've been faked out at the so-called beginning of summer rally. i've been naked

that is john herrmann, president of herrmann forecasting. and jeff myron, director of undergraduate economic studies at harvard university and senior fellow at the cato institute. welcome, gentlemen, nice to have you here. john, let me start with you. you do think that perhaps this was the appropriate way to stem the blood not only on wall street but on main street. >> i had an unusual -- economists at merrill, and i sat on the floor while we basically watched all these grenades go off all over the financial market. >> last september. >> last september. and it was just tremendous wounds being inflicted in everything from commercial paper to repo to the municipal bond market to the credit market to every form of collateral. it was unbelievable. it led to the nastiest recession since 1948. >> so you can definitely tie that -- because some people are saying you can't tie that to the recession that's followed. >> no, we just basically shut down the avenues of credit throughout the economy, and without some kind of temporary boost there would be no way to get a loan. i did some numbers.

quarter. what does it mean, and what is buying out there? let's ask jeff and matt, banking analyst. thank you for joining us. matt, to you first of all. what do you think the implications of the fdic report are for investors in financial sector? >> it depends on your view. if you're euphoric, the message really doesn't matter, mandy. but if you are like i, which are a little bit concerned about the financials here, thing they're a little frothy, any time you see the insurance fund decrease by 20% and the problem banks increase by 36%, it is a sobering number. i think when you're looking here in the market, in -- especially in the financials, you're seeing low-quality shares accelerate and being sought out by risk-seeking investors. and i think it's time to take profits especially in some of these riskier names. >> larry, i was going to ask jeff whether he agreed. >> in general, i do. i think the report was is a bit of of a reality check. i don't think there were a lot of real surprises in there. we knew losses were going up, we knew the fund was probably going to go down. the insurance fu

practice division of jones day law firm.m. thanks to both of you for joining us. boy, jeff, it is tough to be a ceo these days. i mean, unless you're jamie dimon, who's been practically made a deity in the press, besides him it is very tough out there right now. >> well, you know, it's a longer list than jamie. although -- >> give me some other names. >> a.g. laughly, who's now just stepping down after a very successful reign turning around procter & gamble. we think of it as such a glistening global icon we forget it was flat on its back just before a.g. stepped in there. ann mulcahy who's stepping in there, actually very young after a successful tour of duty, saving xerox. if it weren't for ann mulcahy.y. ivan seidenberg took a lot of heat from misguided shareholder activists till they realized this man is the savior, building the future of verizon. jim mcnorthwesterny at boeing. on and on and on of people whose leadership style is extraordinary and does have a big impact in the way they lead and the way their businesses thrive and survive. there are cynics out there, but you know, yo

james chief investment strategist, and doug, dover management chief investment officer. jeff, i'll start with you. where do you see us going, say, over the next few weeks? >> i think you're in the process of making a short-term top here. i think you get a pullback. but i think it is a buy on that pullback. and i think we'll end up higher by year end. >> buying opportunity just on the horizon. doug, what do you think? >> i wish i had a strong view on the market, mark. i've been one of the worrywarts. i've been wrong. i think i've been wrong because i've been hit by a wall of money. basically from the federal reserve. you know, they've been buying -- they're on, what, $1.7 trillion asset buying program this year. and, you know, a lot of that money, buying bonds, buying treasury bonds. people are buying it with turn around and buying stocks and buying commodities. i think what's really going to dictate where this market goes is if the fed extends that buying program into 2010. they're not buying treasuries and suddenly the market is not moving anymore. >> jeff, what do you think, do y

ceo. jeff, ltl market street analyst and, of course, our senior economics reporter steve liesman. >> shaking in his underpants. >> yep. >> maria, good morning? >> good morning. >> do you think we are coming out of a recession? >> yes, i think that it may not be a v-shape, you know, a strong recovery to start with. but i do think that we are going to see it going forward. i think it's going to be in fits and starts. never the less, i think that the worse has been behind us for a while. the numbers that came out this morning have same sales, same sales are going to be up. if you look at states like florida where prices are down 75%, you know, it's fine and i think it will continue to spend some on money but it's going to be cautious because people have do have more income before they spend more money. very simple. >> jeff, do you agree? >> i do. i mean, i think that we have certainly seen a lot of healing taking place. i'm in kind of the qurt w" camp. maria talked about the letter "v" or "u" or "l." we're in a down draft and getting a bounce back. there are issues that could lead t

a business that we essentially as taxpayers own a chunk of. jeff, what's your take on this? it sounds risky, but is there a big payoff potentially waiting? and as taxpayers could we receive part of that? >> i should think there is a really good time for someone like citigroup to kind of be getting back into warehouse lend. they're not the only one that exited in 2007, 2008. there's been a mass exit from that channel. that's led to a reduction in competition and very favorable pricing. so i think one of the advantages to having a very diversified mortgage origination platform is you can ramp up and ramp down different channels as the margins fluctuate. i think that's what you're seeing citigroup do here. there is, i think, a perception out here that warehouse lending is a synonym for toxic assets. some of the sfraud problems we had. i think, at least the way things are being underwritten now, it's a much better process. and really, everything they're planning on originating through this warehouse line is going to be going to freddie and fannie as opposed to kind of going out to

to the end than the beginning.g. >> okay, so jeff, do we have to have a correction, or could this baby run for a little while? >> no, i don't think we have to have a correction. the forces that have gotten us here remain in place. look at credit conditions. the higher bond spreads are narrower than they were before lehman's collapsed. you look at retail sales, shipping rates, anything you want to look at, they have all shown dramatic improvement in this market. i think these gains are here to stay. >> don, nancy pelosi pulled back, read my lips, no new gulf stream. that's a political victory of sorts, don. >> it's a huge victory. and one of the reasons why stocks have had just about the best five-month performance they have had than in the last 500 years is because the obama administration, the march bottom in the s&p 500 and the dow have pulled back from their ultimate status agenda. that is fantastic news. it shows democracy, no more rush to judgment. reasserting itself. but don't get carried away. yes, it's fantastic that the house leadership is not going to get these planes..

, i see no future in this country for coal. can we go to jeff in pennsylvania? >> caller: boo-ya, jim. from pennsylvania, the city of brotherly love. >> from the elk club. come on. >> sxl. >> stock is rampant. >> i look it a, i couldn't recommend it. i have to tell you, i saw sun oil ramping today. sun. and i am hearing, this is the first i've heard of it. the margins might be better at sun oil and other refiners. i think, and my source is real good, that buying sun right here, and i believe that sun has that pretty good yield now because it has come down so much. let see. it has a 48% yield. i'm going to pull the trigger. sun is right. my friend in philadelphia, jeff, he has the idea. next up, we're going to norway! my favorite pick in nor wearing i'm screaming it, is stat oil. >>> coming up, the madness goes nationwide. >> caller: boo-ya! >> he takes calls from all across kraumerratica. an all new quick fire lightning round. >>> and later, whether the dow soars or hits the floor, jim tries to help you stay on steady ground. fithe same tools the pros use, so you can be a disciplined

. could the summer rally be slowly starting to come back the life? joining us is jeff are live capital management and kristen, chairman and cio. jeff, i'll start with you. is the rally still in gear? >> i definitely think it is. i mean, when we look at the market or we look at stock, we look through three lenses, we look at fundamental, valuation and technicals. i think in each of those categories, fundamentally, employment is improving, earnings are pretty solid. look at housing inventories, that's pretty good. valuation, stocks compete with cash and bonds. on that front, i think stocks are pretty good stead. technically, we like the price trend. we like what we see in terms of breadth. you should expect some correction after you have a 38% retracement that everyone is talking about. that's normal. a ton of cash on the sidelines. if everyone was in, we would be nervous. but everyone's not in. so we feel pretty good about a cyclical recovery here in the market. >> chris, your view? >> i agree. i think that we're going to continue to see a little bit of a lift. we think that we'

has its appeal, so should you buy or rent? jeff in kentucky, you're worried about losing out on the great market. >> caller: yeah. i have recently paid off a substantial amount of credit card debt. i'm now in a position to save money each month. should i look to purchase now, or should i wait and build up my savings? >> you got yourself out of some debt, about $20,000, right? >> right. >> a tremendous amount of debt. now you're saving money. >> right. >> how's your credit score looking. >> mid-600s. >> that concerns me. let's add another voice to this discussion. we have julie casterly here founder e and president of wealth management. julie, here's the thing. the market can be the great but it's all about your own money and you have people asking all the time. >> you have to work it backwards. take a look what you want to pay out of the pocket on a monthly basis for your mortgage and does that work with your current cash flow. can you afford it because you know paying low rent versus a higher mortgage payment, you may not be able to afford it including the real estate taxes and eve

only down 16%, one of their better markets. >>> all right, here at the big board, loud, jeff lewis and co-host jenny pumos of docu series "slipping out." nbc universal. at the nasdaq, georgetown university's mcdonough school. >> let's get to our market reporter and see what sell-off we get. only down 40, bob by sanipisani >> down 4%, 20% correction territory right now. declined just as warren buffett's very cautious comments editorial appeared in the "new york times" and that was made available about midnight over our time over in shanghai. that's when the market started to drop over there. a lot of speculation about that. deere is going to open down 42, just opened somewhere down about 3% right now. the important thing is you just heard the analyst over there talking about this. guidance for the company, equipment sales will be down 21% in this quarter. guidance was 19%. equipment sales was everything for the whole company other than the credit division here. the decline guidance was on the weak side. very good at managing the business but end demand is continuing to show signs of wea

everywhere and make the grid better,mtz will get a play. pick some up here. buy, buy, buy. jeff in ten z? jeff. >> caller: big boo-ya, jim, from memphis. >> memphis. oh, man. what a basketball town. what's up? >> caller: what's your thought on dow chemical? >> i underestimated them. when they did the job i thought it was a terrible merger. it was a great wealth destroyer. he has since cut costs, did a giant equity offering which was a good one. the stock is up from nine and doubled. yet because of the gigantic natural gas bill, about $4, dow can go higher but remember we like ppg which i earn for actionalertsplus.com, my charitable trust. it has been a much better performer. david in florida? >> caller: big boo-ya from boca raton. >> i saw a place, i literally saw a place today still on the web, 2.6 million now cut to $800,000. right next to boca. it faces the west side, and it has no kitchen floor. >> wynn resorts. >> it's a $70 stock masquerading as a $50 stock. mgm reporting that terrible number, everybody panicked and they dumped wynn. what are they idiots? wynn closes down lbs

. let's go to jeff in indiana. jeff? >> caller: hey, jim, from terre haute, indiana, a ba-ba boo-yah! >> oh, indiana. we were in indiana, went to iu. it was one of the best times ever. what's on your mind? >> caller: eln. >> it's one of my least favorite drug companies, maybe the least entirely. i would rather see you in mylan, which i really can't stand. i would prefer you, if you're going to own a pharma, i think you should own, frankly, bristol-myers, which doesn't get any respect, yields 6% and people keep treating jim cornelius as if he were rodney dangerfield. he doesn't get any respect. i think he's going to blow away the numbers. i think the dividend is safe. they don't like the cash. i like the acquisition. stick with cramer! fair, straight-forward pricing. that's what td ameritrade stands for. think about it. why pay investing fees you shouldn't have to? or account fees that aren't clear? like inactivity fees? or maintenance fees? it's not right. and you know it. and the thing is, the other investment firms know it. but they do it anyway. and that's just not fair or straigh

wab the nasdaq all down more than 2% yesterday. futures were up this morning. jeff saut is chief investment strategist at raymond james. mike darda is joining us this morning. guys, good to see you both. jeff, i guess, you know, the words are everything from broad retreat to healthy pullback. you want to characterize what's been happening in the next couple of days? >> we've turned cautious for the fist time in quite a while. we've been using the ten-day moving average as a failed safe point to hedge some long positions and maybe rebalance, if you will, all three averages have brown broken below their ten-day moving average. so eve if they try to rally it here, i think it's a good time to be cautious. >> was there something fundamental that changed your view or is it one of those things that you feel like you got enough back that it's okay to move back to the sidelines? >> well, i'm not really moving back to the sidelines. we're taking some of the gains off the table here. i think after some kind of pause and/or pullback that you are going to get an add-on rally and i think the m

-book whole experience. it's very easy to use and so forth. but amazon's taking -- jeff bezos at amazon's taking a big gamble. the system that he's chosen to use at kindle is closed, it's locked, and it uses a format that is not shared by any other e-book reader. my concern, and i wrote about it today, is that what may happen -- what happened to sony and the betamax back in the '70s may happen to the kindle, which is that everybody else uses another system and eventually and maybe not even over too long a period of time consumers say, well, you know what? i either have to stick with amazon or i have this wide range of alternatives and i've got to pick one. now, if you buy a book on a kindle, you can only read it on the kindle or on an iphone if you want to read "war and peace" on a 3 1/2-inch screen. if you want to buy e-books from amazon, you have to buy them on a kindle. and the books are locked to the kind sxl they use a format, a particular software, a variant of something called movie pocket, that only works on the kindle. that's the problem.. >> couldn't they change that, t

crew today, liquid dater, joe tar nova, mike, canton fitzgerald, jerry and jeff from smb capital. dr. j, kick it off with you, seeing the vix spike by 13%, the biggest jump we have seen since april, highest levels in one month. this indicates that people are willing to pay for protection, what does this mean about the market's moves going forward?d? >> also indicates to me we are seeing people willing to own some volatility because they see these 1 1/2, 2% moves on a daily basis. the way they take advantage of that is to own the vix. i do view it as a fear indicator, melissa, but then i also take a look at the fact that people are aggressively trading it. it is giving them great rewards for this trading, so i think that's what they are focused on. >> michael, beyond the vix which is of course, the volatility for the s & p 500 what are you seeing in terms of buying protection within the other sectors? >> i agree with john. what you are seeing when you see these things go up is just an indication that people are becoming more comfortable with the notion that they would be owning option

people like this name, but shares have come off their highs. joining us now, the company's jeff jordan. he's here, president and ceo of opentable. thank you for being here. >> thank you for having me. >> you could be anywhere, right, in the country, you go online, and can make a reservation with any restaurant that is, quote/unquote, a member, right? >> that's correct. >> our model is we provide onloon reservations at reservation-taking restaurants. a restaurant that using opentable switches from their pen-and-paper book to our electronic reservation book, which means we computerize our anybody torrie and the way they run the front of their restaurant. once they have done that, we can offer their seat inventory to consumers on the website. right now we have over 11,000 restaurants signed up worldwide, so when you're looking for a reservation in, say, downtown new york, you can go online and search friday night at 7:00, and we'll show you every open table restaurant that has availability that evening. >> do i pay for that? who pays you? >> the restaurant pays us. there's a free s

will rise in favor and think we will see commodity prices rise. >> jeff, let me come back fo, you if the number is closer to rick santelli, i guess we lost rick on the hook-up, if it's not as good, 350 or 450,000, jack, how would you play. >> it i think it's a sell sell scenario. if it's a good number, wait and sell it because the market will rally back to the level it was pre-election day. if it's bad, you won't get that opportunity. either way, we will see 5 to 10% in this market quickly. >> jack, how can i talk you into a sicyclical bull market? what piece of evidence or data point should i try to find in the top drawer, some place on the web. >> a pendulum swing taking place from the left to the center. health care starts to lose momentum see what happens, the market starts to take off. amazing what happened. >> cap and trade is dead. cap and trade tax is absolutely dead. i also think, jack, if i may try to reassure you on a thursday night, the government insurance idea is dead and the taxes that go along with it. i think there will be some kind of health care package. that ai

stores. that's canadian detective jeff cap lynn who shows us how easy it is to rip you off. >> this is a video of the atm itself. >> watch that guy in the red hat walking into that atm. he attached a device that fits over the top of the legitimate card read every. it's battery powered and recorded debit card numbers being used. here comes his accomplice, has something else under his coat, a long light bar with a pin-hole camera that recorded people's p.i.n. numbers. >> they can get hundreds of different people's bank information each hour. >> now all a crook has to do is marry the card number to the p.i.n. number to get into people's accounts. this video helped convict these two. for cathy and ken it was a hassle getting their financial lives back together again. >> i fell like he was robbed, there's not much else you can do. they can do whatever they want when they get the p.i.n. number. >> author of "the truth about identity theft", jim, welcome. that was crazy video. we had you on last year and saw you skimming with your own fake atm? >> yeah, we did something similar, bought our ow

create jobs. >> and jeff, when you look at where jobs are coming from, we keep identifying that alternative energy will be a place where the jobs come from. are you seeing expansion or hiring there? >> no. the reason i say that is there is hiring there and i can go to specific examples, but the real issue is there hundreds of thousands of jobs being hired there. the answer is no. that's further out. the right thing to do. what it's doing is building a pipeline of where jobs would go. we need to fill the chasm of what is happening now. in order to do that, we have to get the consumer back in the game. without demands for productions and serfs, it falls flachlt it's a simple equation. >> before we go, jim e-mailed me this morning and this is great. let's do it on a "meet the press" style. put up a full screen of what the period said. he are losing jobs at half the rate of the beginning of the year. this was a speech last night. today as jim pointed out, the first couple of lines of the labor report, the average monthly job loss was about half the average decline for november throu

stocks? let's gather the power force team together. joining us is jeff, the chief investment officer at rieman financial. jeff, market thinking this is greet news. we're still looking at a growing number of lost jobs. what's the market seeing? are you convinced this could be the turn? >> i'm saying we're cautiously optimistic this could be somewhat of a turn. we still have a significantly high unemployment rate. in our markets, where we rely heavily on consumer spending. we need to be cautious if we're getting back in there. we're not necessarily out of the woods, but this is certainly a step in the right direction. >> somebody that's seep this huge move. gotten economic day to support it perhaps. what do you do right here if you've got a lot of big profits after this run-up? >> i don't think you necessarily want to do profit taking. there is still some momentum and positive impact that i think can be in the domestic markets. our expectation is maybe a little more of a sideways movement between now and the end of the year. specifically focusing on the technology sectors and the large

the way on that note the update in the "washington post" that jeff wrote about falling behind on green tech? i thought it was an interesting one. >> we are, but our utilities have yet to embrace these. if you have a windmill at your house, believe me, the power company spites you being attached to their power grid. >> that was one of the things he mentioned as you know. they are not involved in the policy. >> is it so bad to have a solar panel on every roof. is that wrong? i think it's right. and nuclear power. we are the only guys who know how to make the stuff and france is run by nuclear power. i want that in my back yard. >> you can go nuclear. down the line nuclear might have repercussions we are not thinking about. solar shines. why not? >> it's fine. >> i am not a nuclear scientist. >> it worked out well. >> okay. thanks, jim. bye, jim. >> bye-bye. >> right here on cnbc, jim on mad mone. what happens when a sports team takes on a sponsor who is a competitor with one of the biggest money backers. a giant conflict of interest. we have one such conflict. >> and you use that w

8:00, we've got an opportunity to sit down with kent conrad, jeff bingaman and jack reed. you guys promised me that if i came along with you on the next one of these things that everything would be all -- >> i never promised you that. >> you didn't? >> no. although this may be the last time we get out out after -- >> what did i ask you, is my car up there? >> before we get to the political news of the day, let's get a quick check on markets this morning after this incredible run where the s&p is now above 1,000. futures are a lot lower, i think by about 50 points so so. developly the pause refreshes? >> it means mb back to 80. >> golding putting up a good file. we are whack in the low 90s. >> 70/72. the ten-year note, who wants treasuries these days? anybody who is willing to take a 3-6 yield. know mentioned the dollar is at its lowest level of the year and you asked the question whether or not this is intming disorderly or not. >> so orderly within and that's what they always is say. a lot of people are reading the tea leaves that the administration at times isn't quite as striden

piper jaffray. it's good to see both of you. jeff, why don't you tell me about what you see when it comes to consumers, are they getting ready, opening their wallets once again? >> we think they're just starting to open their wallets. it's interesting with the walmart news, still very much a trade down cycle going on out there, but we really think the consumer is starting to open their wallets. they're getting a lot of units for less dollars. so when sales results come out lower than expected with higher margins, we think that's a classic sign of an inflexion sign and healthy to investors that profitability will accelerate. >> kim, people have been watching what's been happening with retail stocks, they're up 40%, and there's concern that stocks are getting ahead of consumer spending. >> my sector is up about 35% just in the last 5 1/2 weeks. so near term over the next four to eight weeks we could see them trade sideways. overall, what we're talking about is stocks that might look expensive on a pe basis but remember that "e" is depressed. operating margin has been under pressure fo

actions reminded us this is still a trader's market. joining us with ideas to stop the trade. jeff, welcome back to the show. walk us through ibm. >> ibm is a great stock. because you talked about this a little bit, we looked it at $100 range and traded between $100 and $108 and then it found resistance at $120. if you were short at $120, you could be making about $4 over the last like three weeks. and that's -- i tried to actually buy ibm today at $116.50, i did not get hit. i was going to see if i could play them back up to that range. >> whenever it's at $116, you would recommend buying and selling. >> you play the range, and it's a great opportunity to take advantage even though ibm is an upward trend, it gives you the opportunity. keep on taking advantage of those four points and it gives you a competitive advantage over a long-term investor. >> what's the range you're playing in jpmorgan? >> well, jpmorgan, and again, i wish we were talking about this last week, we had a selloff yesterday, but jpmorgan between the $43 and 41 area, that's the range we've been playing. we've be

congressman jeff hensarling believes this report is almost a defacto stalking post perhaps targeting smaller banks. we did make several calls to get a response from the community pankers association today. those calls and e-mails were not returned. >> thank you, hampton. let's talk more about whether or not small banks should get a helping hand. joining us is cassandra teroy and stephen hagan buckle, managing partner at tara cap partners. also on the board of a small bank, landmark bank in ft. lauderdale. stephen, you're on the board of a small bank. do you need a handout? >> no, we don't. i think getting into banking was made too easy when we started landmark bank 11 years ago, you only needed $5 million and someone with a banking background. i think today the challenge is that a lot of these smaller community banks took on very risky loans. the reason we don't need any helping hand is because we did not do any developer or builder loans or any residential loans. and as a result of that, we're the second most profitable bank in the state of florida in our asset class. >> good for yo

think jeff kind of has an interesting point in that we're kind of entering this six-month period where china's suspect. you've got the domestic stimulus that spurred on growth because when a bank tells to you borrow in a communist country they typically borrow and spend it very quickly and that was internal spending. so now we're going to enter this period where you're getting a little tighter monetary policy or government policy in china and at the same time you're e probably six months ahead of actual growth in consumption expenditures in the u.s. so you're going to be in this funny, you know, currency period where you're probably going to be in a trading range and just stability is going to be the name of the game for all asset classes as we try and figure out where we are. >> all right.. we'll leave it there. gentlemen, great conversation as always. we appreciate your time.e. >> thank you, maria. >> we'll see you soon. take a look at some of the other stories we're following on the "closing bell" ticker tonight. regional bank bb & t announcing plans to sell $750 million in ne

say it's fine. i think the guy's a stand-up guy. who am i talking about? jeff gardner, president and ceo. how about bill in california? bill. >> caller: professor cramer boo-yah. >> oh, thank you for giving me tenure, chief. what's up? >> caller: you got it. a couple weeks ago you were talking about an ipo called mdn. they got hit a little yesterday. i'm wondering if this is a good point to try to get in on the stock? >> skip, i would get in. this is a general atlantic deal. my friend bill ford is the key man there and he has always been good for his partners and for the people who buy the stock. it happens to be very fit. it's been stalled because obviously the health care plan, the health care revamp is also seemingly stalled. it doesn't matter. emdeon has potential. i would use the weakness to buy. i would pull the trigger. it how about theresa in tennessee? ooh, volunteer theresa. >> caller: actually, it's an ole miss rebel theresa. >> oh -- >> caller: i'm sending you an ole miss rebel hottie tottie boo-yah! >> caller: smoke show boo-yah! >> caller: thanks for everything you do f

hurting, i'd rather own costco. let's go to jeff in indiana. >> caller: hey, jim, from terre haute, indiana, a ba-ba boo-yah! >> oh, indiana. we were in indiana, went to iu. it was one of the best times ever. what's on your mind? >> the eln corporation. >> it's one of my least favorite drug companies, maybe the least entirely. i would rather see you in mylan, which i really can't stand. i would prefer you, if you're going to own a pharma, i think you should own, frankly, bristol-myers, which doesn't get any respect, yields 6% and people keep treating jim cornelius as if he were rodney danger field. he doesn't get any respect. i think he's going to blow away the numbers. i think the dividend is safe. they don't like the cash. i like the acquisition. stick with cramer! what's on the minds of independent investors? let's ask. when i trade, i want a straightforward price. they lure you in with a $5.99 trade, then charge you 15 bucks. you get a low price, but only if you make a ton of trades. at td ameritrade, every online stock trade is just $9.99. period. no matter how often you trade

been very important. they've built up a lot of goodwill under jeff lurie as the owner, i don't think there will be any pullback of sponsors or even a boycott against the sponsors. but to what darren was saying, i think there's a significant distinction between players that behave badly with off-field activities that have nothing to do with their onfield performance and those that are involved in bad behavior that affects their onfield performance. there's i think a very broad line between the two of those, and the fans don't forget, the media doesn't forget, and my goodness, i'd love to see where baseball would be today with all of its great advances if it didn't have this albatross, this anchor around its neck, of the steroid era. >> do you mean bad performance in the game in terms of bad sportsmanship, acting out on the field, or do you mean if they play well on the field, it doesn't matter? >> i mean if they use performance-enhancing drugs or bad sportsmanship or if it affects the sportsmanship and what fans are looking at in the game, then i think it is different than the nightcl

largest retailer. 10 1/2% say they'll buy it at target. and it is a trend that piper jaffray's jeff kleinfelter also expects to see. >> we expect discounters to continue taking share. it really depends on which discounter. there's the walmart and target competition for commodities and school supplies and every other category in the general merchandise prototype. >> kleinfelter says the off-price retailers like ross and tjx will also continue gaining share. can they drive profit growth as those sales materialize? brian tunic thinks they will. >> t.j. and ross are at or near all-time highs here. they're a good place for investors to hide. they've been hiding there for the last couple of quarters now. i think the good news is we will see more upward earnings revisions. >> still, tunick says the easy money has been made with the retail stocks up more than 50% from the march lows, as you see there on your screen. they've outperformed the overall markets by about 10%. he says to drive profit growth going forward there's still some cost cutting that can be done. inventories are the major t

there. >> well, we'll keep an eye on the rental website. jeff, thanks for just to watch what's gone on in dubai and abu dhabi and other areas, there's really some opportunity there. >> we'll keep an eye on the rental website, jeff. thanks for bringing us that information. >>> all right. we still have much more to come on "squawk box" this morning. including more hedge fund wisdom from our guest host, lee cooperman. >>> first, though, let's check the dollar. it's unchanged. remember, the dollar had some major gains. up by about 9 basis points on friday on that better than expected jobs number. "squawk box" will be right back. >>> tomorrow on "squawk," former majority leader bill frist and former national economic kounsville larry lindsey is talking about jobs, cash for clunker, health care and a lot more. >>> when we come back for now, hedge fund lee cooperman on the evolution of history and where the markets may go from here. first, check out gold. started out the morning relatively flat with a decent dollar today. down 11 bucks. finally, good news for people with type 2 diabetes or at

? particularly ge support of tax. >> well, look, jeff immelt is a gig ally of the administration on this issue. it's one that is very politically difficult. the prospects in the senate are quite uncertain, but the more sort of heavyweights you have with large corporations and the energy business, jim rogers of duke energy is another ally, then the greater chance they have of success.s. as for taking money out of alternative energy, at this point the politicians don't give a darn about where they're taking the money from. they're going to keep this cash for clunkers program going because they see this tremendous enthusiastic reaction. >> didn't john mccain threaten he might hold it up, jon hilsenrath? >> this is becoming another -- >> lots of luck. >> -- republicans think they might get some political mileage out of it. i kind of doubt it. people are running out and enjoying the $4500 payments, i think it's not really much of a winner on the republican side. but you are seeing some buzz today, you know, talking about how these are just give-aways and -- but i don't think that's a win

quarter in more than a year. citrix is up. downgrade jeff frees underperformed. removed from the topics list at citi, relatively perform at target there is 30 bucks. sharon at the nymex? >> oil prices have climbed above $71 a barrel. fascinating to watch the trade in the dollar and as the dollar weakened tightly we've seen oil price goes above that $71 market. we're watching brent crude prices in london. jpmorgan is not overly bullish. they are looking at the maintenance season in the north sea among refineries there winding down in september. refining margins getting crushed there. they're looking at a range perhaps between $55 and $75 a barrel. gasoline prices, on the other hand, the past month have rallied more than 20%. that's why you're paying more at a tump. national average supposed 10 cents higher than a week ago. $2.65 a gallon. gasoline can be on the back burner shortly because heating oil is really raging on. distillates are going to be the focus this time of year as we go into the winter season and we're seeing heating oil rallying 26% in the past month. keep your eye

. on the list today, democrats including kent conrad, jeff bingaman and jack reed. we'll have judd gregg, lamar alexander, and kay bailey hutchinson. there's a lot hal happening here. as the senate has to tackle cash for clunkers, they've got a lot of things on their desk this morning. >> we are in the dierkson senate building. i don't think any live television program, other than the hearings themselves, has ever come out of this room. >> hasn't been done. >> and they didn't know what they were in for because already we figured out how to use the microphones. >> i like -- the teleprompter is so far away. if we say something that makes no sense, it's because we're reading absolutely no idea what it says. what about if it was 6 members host house? 1.3%, i think. >> and then we're going to move down here where we're going to have some senators up here and i hope they start asking me questions like they did those poor banking executive peps. >> well, also, boone pickens has testified here severales

. >> jeff goldblum as fuld. frank langella for ben bernanke and tony goldwyn. >> we'll see you tomorrow. erin burnett coming up next with "street signs." >> james lockhart has a new job, become vice chairman at w.l. ross. >> red box is suing warner home videos. >>> and stocks erased early losses and rallying led by energy shares. >>> hello, i'm erin burnett. names lie royal caribbean, merck, all on the list today. why trash bags matter for our economy. then, america banking on electric cars, the fear is we're replacing middle east oil with a lithium addiction and it isn't american either. one company trying to change that today. >>> what if medical school was free? would debt free doctors would better health care and lower cost? the hardest med school to get into is free. we have all of that coming up. the main headline this afternoon, when the left the stock exchange around 11:00 a.m. eastern the dow was down. now two-thirds in the green. let's get to the trading floors and talk about the turnaround. on the credit markets zain brown. bob, you first. what turned it around. >> reporter:

, took they will over, $50. you're starting to see mergers again. >> jeff, what opportunities do you recommend here? first day of august, saw that huge rise, what would you tell people to be doing right now? >> well, we first of all have taken more of an international focus with the portfolios we run, but within the u.s., one of our favorite sectors is the technology area, and this is really based on several things.. first of all, the valuations are very reasonable relative to growth rates. these companies typically have low debt loads, which we think is real important not to be dependent on the banker and the availability of financing to do business and they're very lean in that respect. and then the other thing is is that most of these companies have more than 50% of sales coming from abroad, which we think that that theme plays out well. we think that's where the net incremental growth comes as was the case in intel's report back in july. >> bill, you also cite cisco as something you're watching. but the first line in my notes i found fascinating, this could be one of the greatest