Markets. The dow, nasdaq and s p firmly in the green. It came down to one thing. A weaker dollar. The dollar has fallen for six Straight Days sitting at its lowest level since august. Is it really this simple. Its been weaker are dollar and stronger oil, too. They go hand in hand. Im still in the camp that were in a correction in the dollar. For the last month or so, ive been wrong on being long dollar. When i look back at the longer term, we had 18 months from 2014, to the peak in 2015. Where we had a 20 run in the dollar. Now, over the last 14 months, weve dropped 7. 8 or so. To me thats a correction. So somewhere around here, i thought it would hold 94. When i talk about the dxy, i thought it would hold that, but it hasnt. I think somewhere around here im going to be looking for a turn. Its very significant that the dollar does keep on this decline. For the market . I think significant for a lot of different reasons. First of all, i think theres been a bit of a lending mentality. Central bank differentials, or really the strength of the u. S. Economy, the bears, or the people negative right now are the people that think that the economy has no legs. Frankly, data has not been great. I think if you think about where we are right now, the dollars probably playing into where it should be. And when you think about the efficacy of Central Bank Activity right now, the boj is poster child for its really not working. Back to trades, am i worried oil is off 3 on a day when the dollar was weaker . Absolutely not. Do i think oil is going to 90 bucks tomorrow . Absolutely not. You should be worried about the oil trade, though. I think its more of a fact of Global Growth, or lack thereof. Oil signifying weakness against the weaker dollar appears to be troublesome. The hundred percent move off the bottom, it cant go up every day. I think people are looking at the weaker dollar. The oil, dollar, credit, bank trade is breaking down. It means that people are no longer seeing it falling apart. At these points, are they going to come back together again . Has the underlying fundamentals changed . Not at all. The Oil Suppliers roughly the same. We dont have any more demand. The u. S. Economy and the Global Economy is not as strong as it was before. So you have to be concerned in fairness, its not as weak as the most bearish people say it is. Maybe you included, i dont know. I dont know about that. I think its pretty weak. Were looking at a global recession, if you define it 3 Global Growth or below that. U. S. Economys running half a percent gdp. Thats not very strong. Were not in recession yet. Everybody thought Johnny Yellen had a hawkish slant. People thought thats what they took out of the last comments. You cannot find anything hawkish in the dollars move from yellens speech. Look, the fed has really so much to do and so little they can control at this point. The feds not going to be right or wrong. The fed to me after the last Statement Last week, and i think the fed was the most important thing that happened last week, is that they are trying to thread the june meeting. Two hikes to go this year, and right now fed funds tell you theyre not going to do it. I think you guys are right in terms of the trajectory of the u. S. Economy is nothing to get excited about. Relative where you think the dollar should go, the dollar shouldnt be any higher than it is. Think about the trades that were ambushed on the back of that principle, not the principle, look, spot commodity prices, demand in china are not things that changed in the last six months. Those were things priced in two years ago. Those are trades that absolutely can be unwound if the dollar is meyered in the mud like it should be. I thought today was impressive. Two days we had going into the weekend, looked like it was going to set up for just an awful monday. Then you had the china news over the weekend. Which wasnt bad. I thought it actually hung in there pretty well, considering the run that weve had for the market to have a day like it did today, i think its impressive. Im scared, im not a buyer here. Its gone up so far, so fast. In a short period of time. Down to 18. 10 was a pretty big number. In january we did that, too. Weve had this incredibly volatile market. If you look at the average dxy, its much lower now. We have a little bit of a tailwind for multinational earnings. But my point would be, isnt that what the rally from 18. 10 up to here is about . Isnt it about the weaker dollar and stronger oil . Thats whats changed. Its also been about Value Investors taking a look at stocks that nobody wanted before these dash for trash type names, whether its industrials or i dont know. I dont think the value there are those theres no way karens buying freeport. Some of it may be short covering. Industrial space, there are those people who thought that value was coming back in vogue for the first time in however many years, in a long, long time. Apple, is it a value trade or value trap . Thats a legitimate question. But it doesnt replace the fact that people were buying value stocks for the first time in a while. I dont know if theyre buying value stocks, thats what im saying. Were talking about materials and energy and the catchup trade of a beatendown market. It was a reflation trade. Were talking about the financials, buying caterpillar. Get the fed right and youll get the market right. Whats the call on the dollar at this point . I think the dollar is going to go back higher. Ive been wrong over the last month or so. But as the economy weakens, youre going to get all these youre going to get that global debt trade. All the moneys going to come back to the u. S. Again, it goes back to that. Have i been wrong for six weeks . This isnt about right or wrong. But my point is, this is a correction. Yellen has to thread the needle. I think shes going to be back to where she was in december, and theyre going back to raise. Ultimately i do believe of the dollar strengthens from here i think it was a function of global instability and for every strong dollar fan there was out there, there were some who said china was about to blow up. The weaker dollar has taken an enormous amount of pressure off of china, and off the credit bubble that, you know, in some level exists and some level is not really, is even there. I think thats really the key here. I think if you removed some of these global systemic risks, those were the reasons. Not earnings, not the u. S. Economy. Those were the things that took the market down to 18. 10. And frankly, theyre not coming back anytime soon. Were running with the bulls. Since the february lows, the s p 500 is up 15 . And wells fargo believes stocks are heading even higher. The firm just raised its s p yearend price target by 10 brs. Now stands among the most bullish banks on wall street. Scott joins us now live from st. Louis. Scott, what is your thesis based on . Heres the situation. Valuations are an absolutely no way stretch. Right now, we saw lousy gdp First Quarter. Were seeing a lousy earnings season even though its better than expected. But the thing is, its going to improve over the balance of this year and in my opinion the market forgot about the First Quarter a long, long time ago. Probably forgotten about the second quarter. Is really focused on the back half of this year and more and more on 2017. When you have valuations that are not stretched, even though you have a very slow growth economy, the balls moving down the field. At a slow pace. Thats going to continue. And so i think that over of the course of the next year, at least through the early part of 2017, you have a good chance to see the s p 500 between 2190 and 2290. And the middle of that, thats good return from here. Thats been said by the smart folks im sitting around tonight. We have come a long way in a relatively short period of time. We have. You know, its noise and consolidation right now. One day the s p is up 15 or 20 because the dollar is weaker. Next time its up 15 or 20 because the dollars stronger. Commodities are down. Its up. Commodities are up. Its down. So its a daytoday. This is consolidation noise. You know, 2010, 2015, big technical support. At least in my opinion. In the s p 500. Clearly the record high is resistance on the upside. If we just bang around in here for a little while, before we head higher, that wouldnt surprise me at all. Scott, what happens to your cal ku louse if energy takes another turn south, like probably most Market Participants think will happen . What does that do to your overall thesis . I tell you, i think that energy earnings, we were looking for 90 in the First Quarter, its down actually a little bit more than that. Really, the first three quarters of this year, youre going to have some really nasty earnings comparisons in energy. For me, and i think for the equity market as a whole, the line in the sand is still probably 30. If it looks like were going to break through 30, the markets going to be very tightly correlated with the price of oil. And its going to go down. But i think as long as were stable above the low 30s, 35, i think the price of stocks and the price of oil can decouple here and stocks will head higher. If energy broke below 30, if oil broke below 30, that would be a bad thing for stocks. Some might say the line in the sand is midjune. Thats when the fed could raise rates. If they move, does it upset the entire thesis of yours . Well, it does not. I think that, you know, myself, really, if youre growing 2 , does the fed funds rate need to be where it is right now . Absolutely not. But a prior comment that you guys made that one person interpreted Janet Yellens comments as hawkish, you know, when i read that statement, i was like, junes off the table. I really thought the probability for june dropped after that statement. And i think that the highest probability is in december. You know, if the fed hasnt learned by now they need to prep the market by two or three months, i mean, if they were going to do june, they should have started talking about it they had the opportunity last week. And they didnt do it. So i think the probability drops there. Then were looking after the election. Our estimate is for one hike this year. I got you. Scott, thanks for the time tonight. All right, guys. I go back to this sort of fed question. Markets not prepared. People arent ready. If you told me today exactly what the fed was going to do, im not certain that i would know how the market would react. A lot of people would say the markets going to sell off. Other people would say, its a sign they see something in the economy that gives them some room to do this. I think that its so data dependent. How many data points to go before she has to make a decision. I think people look back on december and say what happened in december when they raised. Theyll try to use the same play book, and look at what the market did. Do you think its priced in . I dont think anything is priced in. I have a hard time whenever someone says its priced in you can see the market reaction. I agree with you guys. I actually think that the fed is the biggest factor for markets and i think theres not enough volatility in place. I think it will be a volatile moment for the market in june. I agree. But i think ultimately people are going to come to grips with the reality of what 25 bips mean. The market goes down. And theyre playing the market. So again, as long as Central Banks are on my side, this markets not going to get that far away from me. I dont agree with scott. They take Global Markets out of the mix. Youll hear a lot of noise between now and june from the various fed speakers out there. As we learned from janet yellen herself in the Economic Club of new york, her voice is the only thing that matters. Shes the boss. Coming up, apple shares having their longest decline in two decades. What did tim cook tell our jim cramer about that selloff . Well hear the exclusive comments right after this break. Plus, stocks at 52week highs. A top technician said theyre going even higher. Charlie munger calling the actions of valeant demeant. What did big ackman have to say to that. Well play the clip from the interview that all of wall street talking today. We needed 30 new hires for our call center. Im spending too much time hiring and not enough time in my kitchen. announcer need to hire fast . Go to ziprecruiter. Com and post your job to over 100 of the webs leading job boards with a single click. Then simply select the best candidates from one easy to review list. You put up one post and the next day you have all these candidates. Makes my job a lot easier. announcer over 400,000 businesses have already used ziprecruiter. And now you can use ziprecruiter for free. Go to ziprecruiter. Com offer6 images, videos, social updates. We call it dark data. 80 is invisible to most businesses. The ibm cloud has tools that can help see dark data and put it to work. Hello, my name is watson. Working with watson in the ibm cloud, we can help an Energy Company predict pipeline corrosion. And help a startup to use social data to predict market trends. Now businesses can get more out of their data. Thats what the ibm cloud is built for. Welcome back to fast money. Berkshire hathaway vice chairman piling on to the Business Strategy earlier today. Take a listen. They raised a heart drug. He said, im correcting underpricing. You raise the price, is it absolutely necessary, 500 , and say youre correcting on it. Underpricing, hes like the joan of arc. I would call that demented. Munger calling valeant a sewer. Bill ackman joins me in a rare and exclusive interview and said this. Companys made some mistakes. I think where munger is wrong, its wrong to indict an entire company on the basis of a few mistakes, and a leader that is no longer with the business now. So who is right on valeant and can that company turn itself around with a revamped Business Model that doesnt rely on increasing drug prices . Thats the central question. Not only the drug prices, but the rollup strategy that many people have criticized. Its clearly a huge question mark, can anyone do it. Other businesses facing the same issue. Aside from that, though, there is a tremendous amount of potential litigation here that we havent even begun to see yet. Weve had two more states piling on. So thats also big potential overhang in this country. That was a great interview, by the way. Asking everything that one wonders. The part where he says, you know, to, you know, the ceo to put it on the ceo whos not there anymore, yes, but he did really craft the heart and soul of this company. 11 years . Ten or something years . Its not like this was a rogue trader that took down valeant. This was the dna of the Business Model. Anybody buy it at 32 bucks . New ceo. Its hard for me to incredibly attractive. Hes pointed out there will not be any asset sales. No core asset sales. No asset sales. And that its trading at three times earnings. I think the problem here is you need to wait to see where earnings start to settle in. And 30 billion of debt, people still dont really know where thats going to weigh on the numbers. I thought it was very kind of clever to use the goldman metaphor, quite actively in this whole interview, which i dont think is fair either. Just because Goldman Sachs was part of the financial industry, and granted, there was a lot of things that suddenly the rules changed around the industry later. And so i dont know, that to me was, i thought clever. But not the reason why i think you give these guys a brushoff. Stock down 67 yeartodate. Its down like 86 . Oversold on an rsi last month. And you had a 6 pop. Granted, coming from where it was, 6 on a relative basis is a pretty decent pop. To play it now, be need to be extremely disciplined. I dont think many people should be playing it. You have to use the 27 im out if it breaks that. Munger later said he thinks ackman is right on herbal life. That was interesting, too. The backandforth as well on cocacola. Ackman has been critical of cocacola. Munger at the annual meeting called it immature and idiotic that it was unhealthy. Two different type of investors out there than these two guys. Mungers very measured, ackman is the home run hitter type of thing. I think in that sense, decide what you are. In terms of the vrx, in terms of this space, for me the problem is, you still have the political overhang of what can i charge for my product. And so for me, this name, or the biotechs in general are sells on rallies into the election, or maybe after the election. Icahn sold after news on china. But heres tim cook. Two years ago we had enormous sales. Last year we did even better, 80 better. So we grew 80 over the previous year. This year, in Constant Currency in mainland china, we were down 7. If you look at it on the twoyear basis, apple grew 70 in china. Its hard pressed to say those arent good results. You can see the rest of that great interview tonight, so rare to hear from tim cook, but its certainly worth checking out. What do you guys make of this . You had ica hshlgs n selling it and saying you have to put pressure on it. He was worried about chinas relationship with companies. I dont i think he sold for me, the reason why he was bullish not to mention he made 2 billion. You ring the register. On the capital return plan, i never heard him mention china ever when he was talking about his bullish thesis. So for me to hear that that enters into his bearish thesis, its not that hes lying, i just dont see it. I would think, look, i would say there are several companies out there that are trying to figure out the whole relationship with china and where its going to go in the future. I dont think anybody really knows frankly. Theres always some kind of a risk when you are doing business of that magnitude in a place like china. Look at the headlines today with one of the golden geese of the motherland. I think its crazy. If you look at operating on the ground in china, and other developing nations, theres that much more political risk. Theres going to be that much more protectionism. These guys know how to navigate it. If anything, its an dun opportunity. I bought apple today. Bought it today . The stock is oversold. And ultimately its a valuation. But i feel very comfortable with it for the next few quarters. I dont care what happens to saturation of the iphone market. I care about a Balance Sheet and a stock buyback, and things to me that are still executing. That includes china significantly. What happened most oversold that apple i believe has been on what basis . It had an 11. 6 nineday rsi. Total momentum, people. As we all know, those things can change pretty quickly. So some of that oversold condition can actually be worked off of. And something youre left with the stock. You better be happy oeng it. Just to talk about how the momentum is so poor, this is the lowest its been since 2008, september 2008 when the stock was getting royaled with the rest of the market. I bought it twice since this. Ive added to mine twice since this selloff. I do believe youre going to let me throw this out there. Be careful when the stock gets over 100. It may be difficult to trade. You have limited experience trading things over a hundred bucks, we learned that last week. Let me raise a ser yours issue, though. What if the upgrade cycle to the 7 is not as robust as everybody is thinking . Is there more is that more likely that we could be surprised by a inventolower upg cycle . Everybody on wall street, every analyst out there says you buy it. 7 will be a home run. I think theres pentup demand. If the 7 is a bust you think it will . Its gotten lower and lower in the last two weeks. Three weeks. Right. Estimates have been cut. Again, we talked about 44 buys, 2 sales, 4 holds. Guys are coming down. Its interesting, because a lot of guys still have a buy on the stock. Do not miss jim cramers full interview today, tim cook on mad money, tonight 6 00 p. M. Eastern time. Wrapping up an incredible day on this network. We have a top technician who has three names at 52week highs that he says are going even higher. In the meantime, heres whats coming up on fast. Dennis cartman is excited, because gold is doing something it hasnt done in nine years. And it could spell more gains to come. Hell be here to explain. Plus, the traders say one of these buffett stocks is a screaming buy. I concur entirely with him. We bet you do. And theyll tell us which one, when fast money returns. Youre down with crestor. Alright now theres a way you can get crestor for 3. Adding crestor, along with diet, lowers bad cholesterol. Crestor is not for people with liver disease, or women who are nursing,pregnant, or may become pregnant. Tell your doctor all medicines you take. Call your doctor if you have muscle pain or weakness; feel unusually tired; have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. These could be signs of serious side effects. Ask for the crestor 3 card. Ask your doctor about crestor. Welcome back to fast money. The s p is less than 2 away from its alltime high. But if you missed the move, our next guest says three stocks are about to break out to new highs. Lets go off the charts now with rich ross. Rich, thanks for being here. Scott, my pleasure. These stocks have three things in common. Theyre blue chip stocks with strong charts and a macro kicker. Lets start with colgate palmolive. Blue chip stock. A bullish breakout from a 14month fresh alltime high. Defensive staples have been on the offensive. This stock is outperforming the group, up 9 versus 4 for the staples. When we look at the weekly, you can see the decisive breakout from a twoyear trading range. I think the stock has another 10 of upside. We like the macro kicker. Keep in mind, 19 of revenues here in north america, that means 81 , if my math is correct, come from overseas. Nobody likes the weaker dollar more than this guy. Now, Bristol Meyer squibb, on the fundamental basis. We rated a hold. A good chart is a good chart in my opinion. You can see this Double Bottom here. Much like the last chart. Big base of support. And a fresh breakout here. Youre saying who buys drug stocks . Health care and election year, not a great place to be. Heres the kicker, bristol up 5 . Strong stock in a weak group. I like that. When i look at the weekly chart, look how the stock rides the 100week moving average. You held it since the financial crisis in 09. You have a nice Double Bottom base of support. Bristol, nice buy as well in a tough sector. Finally, chevron. Im a believer in the energy trade because im a believer in the weak dollar trade, which means youre buying commodities, buying crude and buying energy here. Youre up 50 off the bottom, ive got it. Youve taken out the twoyear down trend and 200 day and also this resistance. The stock is up 14 yeartodate and you get a 4 dividend. Play the weak dollar, and the strength in crude and energy. Rich ross, thank you so much. Lets take colgate number one. Dollar play. We like it or no . Very, very expensive. On a current basis, 45 times earnings. Next year youre in the high 20s. The multinationals, lets wait to hear from the companies. This is part of the formula. For every guy that talked about the strong dollar, you had probably a handful of them that talked about how it was actually affecting their business. It will be nice to see what the tailwind actually means. Were in a weaker dollar environment. I dont chase it here, even though it should be trading at a premium. Thats the issue with colgate. A lot of that weak dollar may have been priced into this. This could be a false breakout. If youre looking for that breakout, id use a very tight stop on it. If we get any type of dollar strength, even if you get a weak dollar but have a correction here after six, seven, eight days, colgate could but these have been pretty much, i dont want to say bulletproof. But a lot of the names are yield plays. You cant search for any yield anymore. If you look at utilities, up 12 yeartodate. I play with alshire group. 8 , 3. 5 yield. Better than colgate. Its also a staple, but a hidden staple. I think people are buying this one instead of these. I think clearly its up a lot. Obviously as oil rallies, so goes chevron. But i think in some ways, you know, trouble in the oil patch is good for them. Because theyre going to be one of the stronger ones and survive, even though it would be difficult in the short term. I like it as a relatively low risk reward plan. Gold hitting a high. Dennis gartman joins us. What does gm, American Express and ibm all have in common . Warren buffett owns all of them. Even some of his biggest losers could wind up being big winners. This clean was like, pow it added this other level of clean to it. It just kinda like wiped everything clean. My teeth are glowing. They are so white. I actually really like the two steps. Everytime i use this together it felt like leaving the dentists office. Crest hd, 6x cleaning, 6x whitening. I would switch to crest hd over what i was using before. Thank you thank you what a week we sat down, we kicked back, and we watched tv [ cheering ] this win is just the beginning it doesnt end here. Because your laundry can wait keep those sweatpants on order another pizza and watch on [ cheering ] dont wait a whole year for Xfinity Watchathon week to return. Upgrade now to add the premium channel of your choice so you can keep watching. Call or go online today. Welcome back to fast money. Gold is shining this year, breaching a 1,300 level for the First Time Since january of 2015. But cracks could soon appear in that rally. Lets turn to deidre with more. Hey, scott. If history is any guide, hitting that key level could actually be a bearish signal for gold, and a bullish one for stocks. 1,300 has been a tough threshold for the precious metal to stay above. One month after breaking it, gold, gold atf and gold miners have often fallen slower. The big guys are the best relative performers. Stocks, though, are entirely different story. Historically, the major indexes are higher after gold breaks the 1,300 an ounce level. The s p and dow industrials have traded positive in every instance but one. Get this, guys, tech has led the way in every instance, nine out of nine times, returning more than 3 on average. So if this holds true, this time around, we could soon see some muchneeded relief for the sector which has been beaten down over the last few months. They say this time may be different. Top performance is no guarantee of future results. Remember back in 2010 when gold surpassed the 1,300 level, eventually breaking 2,000 an ounce. Since falling back below a few years later, it has struggled to regain the 1,300 level and stocks have been a much better bet according to history. Deidre, thank you so much. Not everyone is in the bearish gold camp, though. Dennis gartman joins us with the bull case. Dennis, you dont put too much stock, so to speak, in the 1,300 an area where you would look for some selling . You can look for selling at 1 1,100 or 1,200. After all, scotty, lets be honest, weve moved gold up 95 an ounce in the course of the last, what, 20 trading sessions. Very extreme move on golds part. Nonetheless, i think its a bull market. I think youre supposed to own gold in euro terms, i think youre supposed to own gold in yen terms, and i actually think youre supposed to own gold in u. S. Dollar terms at this point at any correction you can get. Can you take it back to 1,275 . You could do that tomorrow. But i think there will be strong support for it. I think the monetary authorities around the world with the exception of the United States are continuing to err on the side of monetary policies. Even the japanese have no choice after the mistake they made last week to continue to do so. What happens, though, if stocks start to take a leg higher, as one of our guests suggested this evening, that they could . Well, ive been around long enough to remember seeing bull markets in gold when there was a bull market in equities. I have seen bull markets in gold when theres been a bear market in equities. So normally, one must think that a bull market in equities gives way to weaker gold prices. Thats not necessarily true. If the monetary authorities are in fact easing erring on the side of aggression, that could still make the case for stronger stock prices and for stronger gold. Im not sure that a strong stock market necessarily begets weaker gold. I just dont believe that. Dennis, appreciate the time, as always, the commodities king. Whats the trade . I still think on pullbacks here, you buy it. When you look at producer hedging, thats starting to increase. Producers are net short. Producers are notoriously horrible at hedging. Thats one more fuel for the fire. I like gold. Isnt this gold rally a function of a weaker dollar . It is. But it doesnt have to be. Because the dollar and gold have rallied in tandem. Theyve done it a bunch of times. When theyve done it is when inflation is rising and when the fed is raising interest rates. And also, when youre correlating nothing means anything. When you look at what were long, i dont know if youre long, but im long gdx. The miners outperform 41. The gld is up 21 yeartodate. The junior miners are up 100 yeartodate. But im thinking as you say that if you think gold is moving higher, it outperforms. The miners to. They outperform to the down side as well. The trader that you are, if you were pointing out another that would ha that much of a gain, you would think it would ring the register a little bit. It could. If you think the underlying metal is moving higher, they could still outscore 51. If you think the run is over in gold, then you have to really if you hit the register, run for the door in the miners before the gld. I got you. I say this about gold. I think about gold not necessarily in financial terms, but i actually think about it with a lot of other commodities were not yet of dollar or euro terms . Thats too complicated for me. Im a simple man. I think about production. I think about how much Gold Production has been eviscerated and taken offline by either perceived bankruptcies or cap x, but new projects. Not a lot of gold coming online. There are industrial uses for gold. There will be actually this crump, and i think thats what drives gold higher. Thats a commodity call that i think were seeing across that complex. Still ahead, why is Warren BuffettStill Holding on to ibm and American Express . Well hear from him in his own words. Time warner, cbs, and fox reporting earnings this week. Well tell you which one traders expect will have the biggest move. Were back right after this break. Believed leadership is about vision and integrity, confidence, inspiration, and passion. Pitching wedge. Thanks phil. And always having the courage to take your best shot. See the best of the best at the kpmg womens pga championship we will not sell businesses except for the reasons that we lay out in our economic principles. We want anybody to buy berkshire to understand how we think. So we have a section in the back called the principles of berkshire hathaway. It says we will not sell controlled businesses unless they either have major labor problems or promise to eat up cash. That was Warren Buffett speaking to cnbc earlier this morning why hes not letting go of some of his biggest losers. Ibm down 17 . American express, down 15 . Wells fargo down 9 . And General Motors down about 10 . Wondering if some of these laggards in the portfolio are worth buying. You know what, i actually would buy one of them. Its going to be a shock to most people. Ibm, i actually like that one. Heres why. We talked in the beginning of the show about whether or not you want to buy valeant. This is a turnaround that is happening. So i feel like i have a much better probability. Not only do they have watson, but i was in a bit coin conference, but theyre into bit coin block change. They have two growth drivers. Plus i get a dividend. I got it at a low price. Yeah, i buy it. I tell you what, the gm story, we talked about ford and gm, and companies that are trading record margins, record cash flows, top of the cycle in terms of sale, yet they probably havent been cheaper with the exception of actually, they were cheaper, but almost getting out of bankruptcy. Its a place where this is a 5 dividend yield. A company i think theres a lot of perception that these guys will not survive a technological kind of disruption factor in the industry. Meanwhile, theyve made more investment than almost anyone other than tesla. Gm to me is one you ride through here. Theres so much negativity around these guys. I think ive seen nothing that can tell me that the margins are slipg, or theyre changing their game plan. Wells fargo, i see it down the last year. This has been a home run for them. Ibm was late. Thats a relatively new position for him. I dont really get that one as much. Wells fargo has been a home run, great company, well run, not expensive. We talked about gm before. The issues there. What about xp . I think axp the costco thing. Stocks not been the same since. I think you go mastercard, visa, id rather go over American Express. I dont think it will ever get back to that level. I think theyre expensive. I think millennials, even my age group does not want to spend money on credit cards like American Express. You still have the black card, right . I was grandfathered in. Nobody even knows what the black card is. You got that from dave and busters right . Exactly. We do have a news alert on david einhorn. Lets gee people who probably have black cards. Hey, scott. Look at shares of yelp popping. David einhorns hedge fund capital revealing a new stake in the company. They have Strategic Value in that it has been approached by multiple potential acquirers, and should yelps board ever decide to auction the company, a bidding war could emerge. Stock up over 5 in extended trade. Keep in mind, still down about 40 over the past one year. A lot of that having to do with disappointing earnings. Aside from that, unlike a majority of hedge funds out there, Green Light Capital returned 3 in the First Quarter of 2015. Some of its winners including consol energy, bullish position in gold michael koris. And sun edison. Seema mody, thank you so much. Rough year. Up 3 in the First Quarter. What about this yelp play . Everybody thought yelp there was no barrier. They thought everyone could go what yelp was doing. Yelp has a niche. When you go someplace, jump off a plane, you want local information, yelp has that market cornered. So i do believe its a great entry point for him. It was oversold back in february. Bounced back nicely. But i do believe the risk is to the upside. Your thoughts . Im surprised. Again, this to me is one of these names where, first of all, i think the barriers to entry are significantly low. I think the valuation is way too high. But i would imagine the fact that they have a black card list thing on there, steve, for the heavy hitters how come they have it when you say the barrier is down. Thats what the argument was. You would think they would have been not taken out, but taken out of business by the likes of a google, or maybe even an amazon, or somebody else. Its down from a hundred. But its still there. The point is thats probably been priced in. The entry, anybody can get in. Thats probably priced in from a hundred down to 20. Lets go back to your comment, karen, that your surprised. I would have thought something what i would youre not gonna watch it no, youre not gonna watch it we cant let you download on the goooooo youll just have to miss it yeah, youll just have to miss it we cant let you download. Uh, no thanks. I have x1 from xfinity so. Dont fall for directv. Xfinity lets you download your shows from anywhere. I used to like that song. It is time now for our final trade. Around the horn we go. Tim . I bought apple today as a trade. Ultimate investment, but for now a trade. Value girl, value stocks, footlocker. Theyll report earnings later this month. I added to my apple, both for trade and longterm investment. Talked a lot about gold going higher. Copper hasnt quite had the run that gold has had. I think you buy. Its been fun. Its been real. See you again tomorrow night. Stay tuned, jim cramers interview, the exclusive one with my mission is simple. To make you money. Im here to level the Playing Field for all investors. There is always a bull market somewhere and i promise to help you find it. Mad money starts now. Hey, im cramer. Some people want to make friends. My job is to. Short term versus long term. Hedge fund manager versus lifetime share holder. When you contrast big name manager carl