His first interview in ten months since president trumps inauguration since then stocks have roared to alltime record highs, including todays 24,000 milestone mr. Mr. Icahn writing a letter criticizing the planned deal with Bonanza Creek and its adoption of a poison pill, which he calls a travesty. Carl, welcome back its good to talk to you again. Good to talk to you. Well get to this incredible stock market in a moment, but lets begin with sand ridge. Thats your news of the day and this letter that youve written to not only criticize this planned acquisition but a poison pill that you refer to as a complete travesty and representing a new low in Corporate Governance why so yeah, i think that the company, i believe, to entrench itself went out and issued stock and issued stock for a Company Called bonanza and theyre paying bonanza a 75 premium to the 421 million valuation established by bonanza creditors. This was written in an article, who i dont know and never met and own a fair part of this company. But heres the really important thing. The thing thats so reprehensible. Its not so much that they went out and overpaid for this or want to overpay, and its not even that this guy, bennett, who runs the company now get this, bennett started the company. He was in the company of sandridge in 2011 as cfo then in 2013 they pushed the ceo out, it was a proxy fight for a lot of things that i dont want to go into or cant go into and they put bennett in who was then the cfo. Bennett presided over the destruction and the loss of 5 billion. So think about this. The Company Shares the shareholders got nothing, zero and during this period, bennett has taken 50 million for himself. And also presided in giving what you assume was his buddy, the ceo that left because they pushed him out, 90 million. So this is a blatant it makes a Banana Republic look good. Its like what ive been railing about in Corporate Governance. And you know i think that this might be a really very important point because were going to be going to delaware to fight this type of pill, because they put in a pill that, you know, to stop guys like me, you know. I bought a fair amount of stock i bought the stock a little bit i had a little bit of stock in it, you know, when it was up around 19 or 20. And i had a little bit and i thought, okay, what the heck, i know the company, i know that area pretty well, we had done business there a long time ago and incidentally sold one company to them and i had no intention of really going after it but they went out with this crazy deal and the shareholders really dumped stock on the market, a tremendous amount of stock on the market so about 20 lower i was able to buy up to 14 . They come out with a pill, but the pill is the most outrageous thing ive ever seen so im not even arguing about bennett taking all this money out for himself and i believe screwing the shareholders, im not arguing so much about overpaying for this, but heres the unbelievable thing theyre saying that you as shareholder do not have the right to talk against the deal in other words, i cant go out, and even in a totalitarian state you have a right to go against the dictator of course you might get shot but you might not. You might get shot, you might not. In this case you definitely will lose all your money if you have if you utter one word against the company. If you go to other shareholders and say, hey, vote against it. So theyre going to have a meeting. Theyre going to have a meeting and theyre saying, but if any of you you can vote against it, but if any of you dare to say were wrong, were going to tell everybody were right but if you dare to say were wrong, icahn, or anybody with more than 10 of the stock well, not more if somebody had 4 of the stock, another guy has 3 , another guy has 3 , according to this pill it seems like you lose all your money. Because they add it all together for what the 10 of what the pill is. And they made it so ambiguous that you dont know. So they hire lawyers, they pay them a fortune to come up with this stuff because they really want in my opinion, they want to entrench themselves. They got the honey pot and i think bennett has just tried to do it again he got 50 million out, 90 million out for his buddy and why not try to do it again, go to the long ball. There are a couple of important things that i heard you say and i was going to ask you anyway it sounds to me like are you going to sue in Delaware Court yeah, i think weve already you read the letter we wrote to the company. Weve asked them weve asked the company to clarify that what i said isnt true because its ambiguous and say, hey, we want to know that weve got the right to go, and we will very strongly electioneer against this deal. We want to know that we have the right to have a special meeting. The Company Gives you the right to have a special meeting, so we can call a special meeting, thats fine, but you cant talk to anybody after the special meeting about what you want to do which is get rid of the board. You cant do that, according to this pill. You know, theyre going to have a meeting now theyre going to have a meeting you have to get the vote of the shareholders to approve of giving half your company away in this deal its tantamount to giving half the company away and paying 75 higher than what the company was valued at only six months ago its the most ludicrous thing ive ever seen. How optimistic are you that you can stop them from doing this deal . Well, im going to tell you, ive been pretty good at this for the past hopefully this is what i do, and i will tell you that im going to give it my best college try its not that im walking away and not doing it now, i will tell you its a little binary for the company in my opinion because if they get this deal through, this company is worth, in my mind and what the market said, they just diluted the company of about 40 of its worth now, theyll come up with a lot of arguments, they havent but theres no question that theyre doing this for other reasons in my opinion, to entrench themselves and for bennett to get himself another 50 million, 100 million. I hate to use the word steal but thats as close as i can think about it this is whats happening an were not going to let it happen. Youre not the only large holder that appears to be against the deal you mentioned fir tree partners. We reached out to sandridge today to let them know that you were coming on to see if they have any comment they have no comment but youre clearly not the only voice here of a large holder perspective thats against this deal. Yeah, im really happy about that i will tell you categorically not because i planned it that way but i dont know any of these people ive never spoke to any of those. So i will tell you that its not something that was planned or anything like that not that its terrible to plan it i mean i think you have a right to go to shareholders. In an election, youre running for congress, somebody else is running for congress, theyre telling you that you dont have a right to go to anybody and ask them to vote for you i mean this is as bad as it gets. Is it this particular deal that youre so vociferously against . Would you prefer that the company does a different deal, or this deal at a different price . No, i dont want i think i dont want to see the stock diluted, which will help them be entrenched i think theyre a terrible board. They got, i think, after bennett presided over bankruptcy, he destroyed all the value, got 50 million and now hes trying to do it again, hes still there. And so i just think the board is really bad and what have you but i think its deeper than that normally this would be a little small for me, so it wasnt something that, look, i want to go get sandridge even though i think its badly run there are other companies god knows that are badly run but i think the concept of this is so outrageous and reprehensible that its sort of got to be stopped. If its not stopped, i really think today in the euphoria we have, i dont think anybody is too concerned, Corporate Governance, so what, look how great it is. But its not going to remain great forever. And one of the great things about our country as ive said for years is democracy one of the great things about our corporations is that you can go and change the companies if theyre badly run. You just used the word euphoria and id like to switch our attention to the stock market right now the Dow Jones Industrial average today is up 232 points as we speak crossing 24,000 for the First Time Ever we havent spoken since the inauguration when you were wildly positive about what could take place in this country from a business standpoint because of president trump. Im wondering what you think today as we mark yet another milestone for stocks look, i must admit i really thought trump was going to really change the landscape, and he certainly has gone far to do that im not that involved with washington, as you know, but i am i have to say surprised at the euphoria i think i personally think, thats just me talking you know, this is like going to vegas and asking is the roulette wheel going to come up black or red . In other words, i think its very difficult to now predict whats going to happen in the next week or the next month. But i will tell you that i really think even though earnings are going to be very good and what have you, i just think this thing has got into a euphoric state to quote what was said many, many years ago, i think theres a bit of irrational exuberance right now. But being that said, i do think that with the tax break and with the way you have the emerging markets being so strong, i have to admit that there might be a very strong underpining to this market so in other words i just think its runaway and might have a big correction but i cant say its insane, so maybe i shouldnt say rational exuberance, maybe i should say a little too much exuberance at this time. Look, the market went up some four more years, i believe, after Allen Greenspan said those words so you can still be rationally exuberant and still have a long runway before us is that the environment that you think given taxes, whats going on with the Global Economic recovery and so many other things that seem to be a tailwind for stocks . Yeah, yeah, i want to change the word rational exuberance theres a lot of underpining, a lot of strength. I am just surprised that it happened with such a great force and momentum and yet so i do think you know, when that kind of thing happens, there are corrections so you have to be very cautious. So obviously im not saying anything that these people dont quite understand themselves. Sure. I noted themselves with sandridge that its your first new activist position of the year, which began in october, which is news in and of itself youre normally a pretty active person in the market is that representative of how you view in some respects where stocks are, that good values, undervalued stocks like you like to say are harder to find in this environment and thats why this is your first so late in this yoear . Yes, youre definitely correct. Its hard to find you know, when you do this activism, youve sort of got to feel its a nobrainer youve got to feel that youve got a lot of value in it, you know, so that if youre right, you put in a lot of effort into it and so youve got to say look, like in ebay, we said look at the jewel paypal, all youve got to do is get them separated. So youve got to have something that will dramatically increase value when you do it and so there are very few things that i find where that exists today where you can dramatically increase value without worrying that youre going to get a correction thats going to hurt you badly. So its not an easy its certainly not an easy market i dont think anyone, anyone is going to tell you, oh, you know, this is a nobrainer these companies theyre just great and nothing can happen to them you know, looking back, and ive been in it a long time, you know, Something Like north korea will happen and the market will be getting really badly damaged while everybody is a little scared of whats going to happen today all this stuff is just brushed off. So its surprising to me that its had this especially in the light i used korea as one example but a few other things so in light of that, im surprised at the exuberance. But i want to correct what i said, i dont think its completely irrational because i think theres an underpining to many of these companies. Lastly, before i let you go, what do you make of bitcoin . Are you an investor, in any way in it . What do you think about it ive got to tell you honestly i dont understand it. Im the last guy to i just dont get it i just stay out of something that i dont understand. I leave that to others to explain and talk about. Are you marvelled by what you see there . Yeah, its like sort of amazing to me. Its one of these things, if you read history books about all these bubbles, you know. Like the mississippi bubble and all, where they went around and selling all this land in mississippi that was sort of worthless and the french were going crazy giving him all this money and then one night it all blew up and they were after this was the time louis xiv who didnt like them anyway. I mean theres books on these bubbles. To me, this is what this is. But im the last guy to say that because i really dont i could talk about bubbles in certain areas that i think exist sometimes, like in real estate when you have these apartments in new york going for 200 million and you have artworks going for 400 million, i say, hey, those are bubbles caused by low Interest Rates but i cant talk about bitcoin i dont understand how the hell it gets up there. It is quite remarkable. It certainly has a lot of people following it carl, we appreciate your time. Its good to talk to you again its been a while. Good talking to you again, scott. Thanks for calling. You bet, take care. Carl icahn joining us there on the phone. Lets wrap this up quickly on the desk as we said, the gang is here today. What do you think . Its not he corrected himself, didnt want to go as far as to say its irrational exuberance, but is it euphoria what is it well, i think on days like today, youre hitting euphoria over the passage of the tax bill and thats still not a slam dunk, although mccain coming out makes it seem more passable. Youve got more Global Growth numbers that came out from europe u. S. Numbers are good. So there are underpinnings in the market what is disappointing that some of the stocks that sold off hard yesterday like micron havent recovered as much. Im glad you went there, pete, because its been a bit of a whimper in terms of a rebound. Yes, the nasdaq is positive, yes, tech is positive, but this is not much of a bounce. But when you think about where they have come from, micron, steve and i were talking off air, micron up 100 on the year so a pullback, this is a significant pullback its a reasonable pullback but you look at most of the Tech Companies in the semi space and stocks up 50 , 60 , 70 . The fact that theyre adjusting back, weve seen it in the banks, in the industrials and seen these pauses here and there. Look at the financials today, absolute explosion you have Goldman Sachs and jpmorgan in the dow, but bank of america and citi and wells fa o fargo. The financials are ramping up. 2017 has been the year of rotation. Thats the positive, that you have a rotation. Absolutely. Its not one area. Or f. A. N. G. You see it moving today. If today is the definitive answer to the question that you posed earlier today, who knows im wondering what you think about the rotation, kevin, that weve seen in stocks, whether its this lasting new way that people are going to be viewing this market, maybe selling some of these tremendous tech winners and getting into other areas of the market that they deem better values at this time . I think rotation is very healthy and to have it happen now are helping guys like me trying to make bets for 2018 trying to decide where the value exists i want to go back to the icahn thing for a second you think about activists. What a bad rap some of them have got. But heres a guy, i see him dressed up as robin hood, stepping out of the forest saying look at this Little Company screwing over their shareholders but im not just going to talk about it, im going to take my own personal money and put them over the coals in court. I love this stuff. I think this is what its all about. And i think we want more carl icahns doing exactly that. I dont know this company, i dont know the ceo, but what i just heard was absolute bs and i think he should be put out there on a spit and turned over the coals for it diluting his company by 0 , buying an asset 75 over its market value and then he meets robin hood i love it. Josh, one of the most interesting things that we glean from this new position by carl icahn as of october in sandridge is as i said its his first new activist position of the year. Thats how difficult it is to find value in this market now, and its only going to grow more difficult. Yeah, so i think its interesting. There is value in certain areas of the market, and energy is obviously one of the targetrich areas for Value Investors right now. And then maybe in some retail, a handful of Drug Companies that have been killed this year but overall this is one of the easiest years to have been an investor maybe in the 19 years that im doing this, even right now you think about were talking about there being a tech correction. Meanwhile, the qs are 7 above their tenmonth moving average, midcaps, 6. 7 above. None of these are anywhere near what you would term a traditional term reversal. International has outpaced u. S. So its been very hard to find fallen angels, Companies Like sandridge that havent lived up to their potential theyre out there, some of the restaurant stocks maybe. Overall all you had to do this year was wake up, get out of bed, you made a lot of money. Transports up 5 , airlines up 4 this is on the week Home Builders up 3, retailers up 6, banks up 5, industrials up 3, tech, nasdaq, f. A. N. G. , semis, emerging markets down. Financials are the area that are most important to me coming off this week. Weve talked a lot about that being the positive but we keep measuring sentiment and are talking about irrational exuberance i think the word that comes to mind before this is all over is youre going to begin to see more and more parabolic moves and i think we got a little glimpse of that over the last two or three days. I think thats what you want to focus on in the marketplace. When you begin to see some of those names trade in that fashion like steven mentioned, maybe those are some areas you pare back your risk. But the fundamentals for the marketplace heading into 2018 havent changed, its just the style and strategy of the way were going to tract is going to become a little more volatile. You have parabolic moves in some areas that havent done anything for a long time so its important not to become a kneejerk contrarian where a stock trades in a range, its been trapped and all of a sudden makes a big move out of that range. Thats not the time to look at that and say, oh, thats parabolic, we need to automatically dismiss this, fade this, short this that has been a huge money loser and the banks are just the latest example a host of sectors that have plodded along, havent really kept up. Look at jpmorgan the stock was under 100 two days ago its 106 already. This is not a stock thats been rampaging like amazon. But why in 2018 theres no competition for equities in 2017 if we get four rate hikes, will that finally be a place yeah, the market is telling you they dont believe it and they shouldnt because all the other fed forecasts have been wrong. Will there be competition finally after seven years against equities will fixed incomes come back. The dow is up 270 points on the same day it broke through 24,000 for the First Time Ever lots more straight ahead on the Halftime Report. A recent star of retail is about to fall, according to one analyst. The call of the day is next. Plus, shark tank stunner one of the most heartwarming deals ever is about to get even better and bigger the Halftime Report with scott pn a t tde ibawaerndherarss ck in two minutes is the monolithic view of emerging markets obsolete . At pgim, we see alpa in the trends, driving specific sectors of out performance. Where a rising middle class powers a booming auto industry. A leap into the digital era draws youthful populations to mobile banking and ecommerce. Trade and travel surge between emerging markets. Everyday our 1,100 investment professionals around the world search out opportunities for alpha. Partner with pgim, the Global Investment management businesses of prudential. Were back on the Halftime Report. Gap is up 38 over the past three months, but now an analyst at citi says it is time to get out. Its our call of the day its a sell call 28 price target we believe the stock is likely to go lower from current levels they say, and the risk reward skews unfavorable. They have many in their camp and Short Interest certainly reflects that. Its grown to nearly 11 right now. I think gap has done incredibly well both with old navy, you see that with the comps, 4 better than 2. 5 and the athleta brand. It is overcoming the slowing obstacles for retail itself and the slowing traffic trend. This is a company thats executing on its business. They have a lot of people that dont believe in the story, its trading 32 and i dont think its a reason to sell just because youre looking at a secular decline. Quite honestly, they had it a hold and now its a sell. But its up 40 in three months. And have they been right with that hold thing . I dont know what does that mean, more neutral . We kind of like it, were holding on to this thing. I would like to have the guys that are actually giving you the right information at the right times and i dont know that this sell is necessarily that when you look at what theyre doing in old navy, joe points out, athletica, even though its up 30 , if its trading 15 times, is that something thats totally unreasonable i say no. And i said what retail has done week to date in the face of this rotation. Jump back to this in a second. Lets get to breaking news with steve liesman. Thanks very much. Mandy crowell, the new vice chair at the Federal Reserve said Digital Currencies can pose a potential risk to the Financial System if they become used widely. He does mention bitcoin in his speech he said they are a niche product and do not pose very much risk at the current level of use. His concern is if they become more widely used, they will have trouble in times of stress, specifically hes concerned about liquidity of Digital Currencies and having liquidity problems he said these currencies are not backed by secure assets and have no Intrinsic Value he said these currencies are not the liability of any institution at all he goes on to urge caution is something that was mentioned yesterday by the new york fed president on the central bank issuing a Digital Currency he seems to prefer allowing the private sector to lead the way on this issue. He thinks banks ought to get together and offer instant Payment System amongst themselves rather than just clients within banks he said the fed is actively monitoring Digital Currency developments i dont know if this is a precursor to regulation but i dont know if this is a tougher level of concern from any central bank official. I would guess that we would only hear more and probably a tidal waves worth more of commentary from members of the fed and elsewhere. Im kind of surprised we havent heard them to this point. What randy quarrels is saying makes a lot of sense to me what happens if these things become widely used and part of the backbone or even blood or nervous system of a broader financial or global system even within a single currency is how do you meet demands for liquidity in times of stress, and that creates the potential for financial risk out there that is what he is signaling i went back that maybe others have said things like this in the past i havent seen it and it makes a lot of sense to me what he is saying. Steve liesman, with that breaking news. I want to hear what you guys think. Josh, youre first i think the race is on to figure out the custody issue, to bring in institutional and maybe not pension money, butendowment. If they were going to kill it, the time would have been 1314. Now its almost getting too big. When it gets too big and enough wealthy people have money at stake, then you cross a threshold where now we cant kill it, only pass laws around it and try to figure out how to regulate it. They move very slowly and this world moves at lightning speed the last thing is this is global so one jurisdiction, one country can pass any kind of arbitrary rules they want to about who can use it, how long can you use it, how much its not going to affect the global uptake of this. If they wanted to do that, the time to have turned it into a pariah instrument would have been three years ago coming up, pete is seeing bullish options activity in another retail stock its down more than 30 this year before the break, lets take another check on the markets, another recordsetting day the dow now up nearly 300 points wow, its more than 200 points above 24,000 just hit that level earlier today. The Halftime Report is back after this trillions of dollars going back to taxpayers. Who could possibly be against that . Well, the National Debt is 20 trillion. As we keep adding to it, guess who pays the bill . Him. And her. And her. Congress, we should grow the economy. Not the debt. We are back on the Halftime Report. Weve sent Pete Najarian to the telestrator. What have you got for us today good to see you, scott. Macys take a look at this thing. Stock obviously on the decline most of this year. You get down here, suddenly we start to bottom out. Ill give you a quickie. On friday, black friday, we had call buying in there very short day, obviously reduced trading day. We had some huge call buying they were buying 27 cents paying for the options. Today they got rid of those things for 2. Somebody is trying to roll up now. The december 25 calls over 10,000 of these were bought today. Theyre paying around in that 50cent sort of a range so really interesting to see. This big of a trade, this is through december ill be in this for a couple of weeks, but ive got an update for you as well. On monday we talked about the huge call buying in humana they were going out to january theyre buying the january 2. 50 calls. I bought the stock the stock is up, thats great. The stock is up 8 or 9, Something Like this. Actually its more than that now. These calls, on the other hand, have more than doubled when they were buying them, they were trading for about 5. 60. Today over 12 and now looking at where the stock is, i last updated that a while ago those are trading well over 12 thats a huge move, very, very rapidly. If i was in the options, id be trimming im holding on to the stock. Pete, before you come back, let me hit you on the market the dow is up 300 points, the vix is nearly 12 what do you make of it people are very, very aggressively positioning right now, scott, because of what theyre seeing in the markets. So theyre not only buying some protection, thats actually lifting that put side. But theyre absolutely going aggressively at the upside as well take a look at these spiders, the way theyre running right now. There is huge call activity there as well, so supply demand. The demand is there, thats raising up that vix. Coming up next on the Halftime Report, a shark tank deal that brought kevin oleary to tears wait until you see whats about to happen. Halftime report is back with a very special update on a shark tank success story. Alerts wouldnt you like one from the market when it might be time to buy or sell . With fidelitys realtime analytics, youll get clear, actionable alerts about potential Investment Opportunities in real time. Fidelity. Open an account today. Fidelity. Let out your inner child at the lexus december to remember sales event. Lease the 2018 es 350 for 319 a month for 36 months. Experience amazing at your lexus dealer. We are the driven. The dedicated. The overachievers. We know our best investment is in ourselves. We dont take no for an answer. We fight for what we want. Even for the things that were once a given. Going to college. Buying a home. And not being in debt for it for the rest of our lives. But were only as strong as our community. Who inspires and pushes us to go further than we could ever go alone. Sofi. Get there sooner. Were back shark tank always a winner, but a recent episode was a real heartwarmer and tearjerker it is the worlds first traditional padlock with fingerprint technology, which means that not only you can open it with the ease of your fingerti fingertips you got three amazing offers and now its your time what do you want to do holy smokes oh, lord jesus gosh, i love all of you, but for some reason my heart is telling me to go with mr. Wonderful. What . Wow wow. You go thank you, were going to make some money together. The founder and ceo of benjilock is with us live right here his lock replaces the combination with a simple fingerprint touch model. Kevin invested in it its great to have you here along of course with kevin. No, no, thank you im extremely honored. Its been a long journey. Where did this idea come from well, the idea actually started three years ago. I was working my normal job and sadly i got laid off in the month of december, the same day i got laid off, my daughter was born at nighttime. I really got depressed, but going through the journey to the gym, watching the rose bowl, doing cardio, i noticed how people were using their locks at the gym so thats how it sparked to me head how come theres not just a lock that you can open with a fingerprint but also a traditional key. That way you can use it whenever you can working out or going to school or all that stuff. What did you see in not only the idea but the person that you were investing in . Well, the first thing i thought is how come someone hasnt done this already and how come the lock companies dont have a patent on this Brilliant Technology he comes on the set of shark tank and everybody said the same thing do you have a patent on this or is it just pending he pulls out a patent. He wins worldwide Innovation Award at ces a week earlier. Obvious low we went nuts on shark tank because you can just see that this product is a distinned patent to lock companies for a royalty deal so he had a decision, which shark to partner with to get a good royalty deal. You said it was a tough decision it wasnt that tough, right . I basically said, listen, if it comes to licensing, im a beast, baby. Im your guy so hampton owns the rights for north america. We have a nice surprise for you today. Kim kelly is the ceo of hampton products they specialize in Security Hardware and connected home products, electronics and more and he is here today walking onto our set with a very special surprise, robbie, for you. Mr. Kelly i am kim kelly, how are you nice to meet you. Thank you for your trust in our partnership. When it comes to making locks in america, this is the company. The scale, the ability, the distribution, the manufacturing and when you saw this product, what did you think it was so creative, it was so well designed and it looked like it solved problems for lots of different people, but particularly what was appealing to kevin was the intellectual property, the patents that youve got on this product is really extensive and were looking forward to helping you leverage that. And in fact youre looking forward so much that we have a check for you today. Robbie from hampton. For this is what its all about this is the American Dream in an envelope right now, gentlemen. Thats awesome. Robbie, everybody at the hampton is really excited about this partnership and were impressed by your design and so as an advance on the royalties and in recognition of this partnership, its my pleasure to present you with this check for 100,000 [ applause ] the American Dream right here im sure and i even brought a letter opener open it up, robbie. Open it up. Thats amazing. Oh, this is i thought shark tank was going to be the tear jerker. I just cant believe it. I knew words were going to be hard to come by for you as you were going to get this check today. It shows you that innovation in america is alive. A great idea that solves a problem. People are also willing to make bets on good people with good ideas hold it up, robbie. What does Something Like that mean to you and this idea that you had . Its its basically the American Dream for me. I mean its been a lot of hard work and for me its more to just showcase my family that if you work hard, things can happen not only for me, even to try to get a job it was difficult, but to do this and hopefully now i can provide for my family and bring jobs too, thats the goal for me so im extremely happy well, when we saw the shark tank episode, and youve been working with our team for a while, you know that we believe in the fact that teamwork makes the dream work and the shark tank episode and kevins investment in your dream was the missing link for us, and were really excited we are going to make this work. Thank you, thank you. Judge, im going to cry too i cant even handle it this is the best show ever. Thats acceptable on a day like this. Gentlemen, thank you so much congratulations. Thank you, i appreciate it. Thank you, thank you, kevin what were you doing before this what was your job before this . I was doing marketing for a Real Estate Company locally, but ive always been a creator. Its amazing. I know how difficult it is to get something to the level that youve gotten this to. It was a lot of hard work, ive got to tell you my wife is here on the set and she knows. You know, we have three kids its hard, but im actually honored to be here. Congratulations. Its a Creative Design with very broad patents, so were really excited about leveraging that opportunity. And you had none of that specious befo experience beforehand . I never thought i would in terms of patenting did you do a lot of reading . I went through a local mentorship and figured my way out because i knew i had to find a way to provide for my kids and now im here. And youre going to. Phenomenal. What do you think this is going to mean financially through the lifetime of this deal with you guys millions. Millions this will really help robbie establish his company, realize his dream and probably provide for generations of his family. This is a very big idea. Its such a pleasure. You know what i say, robbie, whats next . Thats right. You cant rest on your laurels now. I am with you. Youve got a little cash to put in the bank. Its not going into bitcoin. Seriously, congratulations. Great to have you, mr. Kelly, and kevin, thanks to you as well for helping bring this to us a bit of the American Dream for everybody else here today. The dow is up 375 points as we speak. Again, on a recordsetting day where stocks blasted through 24,000 thats what the dow did earlier today. Its now at 24,310 gosh, in a week where weve heard were in the seventh inning, according to ken griffin, stocks can go up f a while, icahn sounded cautious a bit, hes been cautious in the past, still said that he thought stocks could continue to rise given whats happening mccain signs on for the tax vote yes. Stocks take another leg higher. Its important to remember how hard it is toin, because ths are constantly changing. So if it was just about buybacks for you and you saw the wave of buybacks cresting in late 2015, now were in the seventh inning. Then a whole new leg when we got earnings recovery from oil stopping crashing. And if it was just about that for you, then maybe they actually do meaningful tax cuts for corporations and then next year an infrastructure build ta could be a whole other leg. Its really important not to let these mental shortcuts of, what inning is it fourth a tax deal, if it doesnt happen, now you cant say that the market doesnt have it built in. Also, the next narrative is going to be, will it be will sell in the news once the vote happens . Which weve raised the issue before and as we had the conversation yesterday with professor segal, are you borrowing an even more sizable amount from 2018 stocks go up. Yes do that all the time. As investors, do it market with discounting. And expectation technology might nob perform, many people are pontificating for next year. The way we close today i think will be interesting. I think the followthrough the next couple days very interesting. And closed on the down side, very negative. Not closing down. Closes on the down side, epic but to me whats going to be interesting, what happens tomorrow with tech micron, i dont know, down 2 . Not participating. Down 2 its crazy. These stocks are up so big this year. Let me ask you rotation. That the whole thing. Youre all wound up on this thing. Take a look at think hes going to turn micron referencing it every block. Honeywell had a huge move so many stocks, huge moves pick another day where the marks been up what its been and havent seen stocks like alibaba or micron participate. Weve had days weve had up 200, 300 point and apple down and everybody says apples everything about the s p ip disagree. Honeywell, a damn good year, up today. Its not that microns had a great year why its not up today. Cant a stock go down a little i havent sold any, obviously. My point. One month ago, high of multiyears for micron. One month ago. Where that level is now. Lets not make too big a deal. Do you think buyers will come in to some of those tech stocks yes. Theyve had had the momentum at some point and regain that speed. Absolutely. That power theyve had . When we see a little rotation after people joe talked about pnc i believe. Banks in general look at the run in the banks in the last week. Give or take within the last week, the run on the banks. That i attribute to the fact that one by one tnays becoming yeas ill give you that. Not selling into strength wait for the tax bill. Onetime only. No incentive to sell. A sell on news. Thats the key make it quick. Very quick. Actually might be the best thing for the market that we havent gotten this yet, if were thinking that were running in anticipation of it and maybe the real tax cut is the friends weve made along the way. All right jump to Jackie Deangelis with futures now crew waiting, good afternoon. Crude oil negative on the session as opec is convening that meeting in vienna wti on pace to close its Third Straight month of gains. Jeff kilburg, outlook where crude goes from here reporter jackie, the momentum still on upside historic production cuts historically, never compliance in the production cuts in other words, always cheated now i think opec and nonopec members realize that job owning doing the last 18 months has moved crude oil 50 higher right now a hot moment, momentum continues to go. Keep the microphone going. Production cuts are on all the way through 2018. All right and take the flip side of the coin say its all baked into the price already and we still could go lower from here as u. S. Production is on the rise. What say you exactly what i believe. You barely need me mere anymore. A month saying, 60 my target on the upside i have a decision to make when it hits 59. 05 like it did. Turning around quickly is that good enough . Yes. Buy the rumor, sell the news kind of thing. Beleeow 55, much more significat and gets to the high 40s. Meantime, on the live show, rejoined by ralph akumpoora, plus former u. S. Representative ron paul tells us why he sees a major pullback coming. Futures now. The Halftime Report guys are straight ahead earning theres so many opinions out there, its hard to make sense of it all. Well, victor, do you have something for him . Check this out. Td ameritrade aggregates thousands of earnings estimates into a single data point. That way you can keep your eyes on the big picture. Huh. Feel better . Much better. Yeah, me too. Wow, you really did a number on this thing. Sorry about that. Thats alright. I got a box of em. Thousands of opinions. One estimate. The earnings tool from td ameritrade. Welcome back top of the show jused Sandridge Energy with carl icahn fighting its poison pill heard back from the company saying the acquisition of ba nance sa creek is highly strategic for sandridge and believes it will create longterm value for shareholders wanted to get that in there before we bounce today do our final trades in the moments left on what is a huge day for stocks pete, stars us off dows up 329. Continue to love financials one slins underneath, etrade etfc, call buying not long ago higher i own it. Steve weiss micron. Upset pete go with micron havent sold, looking to buy more a great story. You think enough cleared so to speak i dont know if it has or hasnt but know i feel highly confident it will be higher. Not an expensive stock at all and fundamentals, price, still good, still strong. Josh brown . Dont tell nanyone, but shaq opening levels broke 40 quietly. A huge short position. Record short position in this name and i think they could squeeze these guys ow, if they dont disappoint. Who knows, still a holder i own it and bought more in the low 30s a couple weeks ago i dont think its worth 96, where it went, because of a share scare right after the deal but i dont think its its worth 30 or 35 either. Soim in. Kevin oleary. Krogers. Good management. Stocks ripping the question mark, you saw whole foods bought by amazon, meal kits back of every store. Albertsons bought plated, another shark tank deal. What is krogers going to do against those threats . We dont know yet. Joey . And fedex, reach at least 250. Had that fedex u. P. S. Date a few weeks back both could go higher give you fedex on this one. A remarkable day in what has been a remarkable rally for stocks was speak, Dow Jones Industrial average up 443 Points Crossing 24,000 for the First Time Ever earlier today and Holding Firmly above that that does it for us. Power lunch begins right now were going to pick up where scott just left off. Im michelle carusocabrera. Whats on the menu, mentioned, a monster rally on wall street dow hitting 24,000 for the First Time Ever. Is 25,000 in the cards before the end of the year . One of the big at licatalysts, out of d. C. On tax reform. John mccain is in. Live on capitol hill and wall street this hour amazing amazon that stock up 55 this year and just got the most bull ish call yet. The analysts who made it tells us why he thinks the bang will rack up huge double digit gains even from here and chip stocks had