First, we start with techs moment of truth. 35 of the nasdaq 100 reports earnings this week, and hitting a new all time high today. Names like google, amazon hitting alltime highs as well. Tech up 12 as we head into the thick of the big reports. Is it too late to buy tech . I begin with my buddy, guy adami. Hey, pal. First of all, scott, great to have you back. Love it when youre here. Thanks for filling in. Next, is it too late . A name like microsoft, not too late. Dan is in my grill now. At 19 times forward earnings, given the quarter they have put up, and the growth they continue to see. The fact were above 99 highs, 1999 highs, at 19 times forward earnings, i think a justified multiple for them is closer to 22. You slap a 22 on that and get into 71 bucks, the price target now that everybody seemed to ra ratchet up. Im not going to get in your grill. Where were you . You had plenty of time to buy it. One point about the nasdaq 100. Apple, microsoft, facebook, google, and amazon. Th
Buck and goes lower. Thats what happened today, dow slipping 29 points, s p falling. 10 . Now, i know that individual stocks can transcend oil now and then, but oil is in control right now. We might as well go right into our game plan because the most important thing happening next week at the height of earning season is what depose on this weekend in doha. Thats when Oil Ministers from opec and russia are getting together to talk about freezing production. This meeting really isnt about freezing anything. There are way too many countries moved and opec itself is basically broken, its every country for itself in this oil market. Im not saying its irrelevant, especially given the endless rumors of having it were crucial in lifting the price of crude from 26 bucks to 40 now. I am saying, though, that what really matters is supply and demand. And right now supply is indeed being cut back in the u. S. , prices are too low. Maybe by as much as a Million Barrels while demand worldwide is pic
Air . Because the market is marching back to the alltime highs . Well, i thought that, and a fum ber of the investors that i spoke to noticed that the link between correlation of crude and the markets is starting to dissipate somewhat, and apparently that not the case today, and the reason that it is dissipating is that as crude consolidates and the big volatile moves go away that the algo guys are saying, i have to find Something Else to wreak havoc with. But i am surprised that it is trading positive and it is counter intuitive with the kuwaitis coming back on after three days off, and people are kcome fortable with having foun the downside and so it is up. And doc, it is inevitable that the market wants to try to retest the old alltime highs. And certainly pushing it. And slow and steady march there. And pushing, judge. A lot of people sold as soon as we get close to it, it is going be another batch of selling, and the question is, how quickly do the people have to cover . If it rev
will be forced into poverty and worse, some will end up dying. neil: it gets worse. look at this ad again, it s well done, look at the guy pushing grandma. does he look familiar familiar to you. do you think they want him to look like paul ryan? and the guy who addressed medicare costs killing us, now he s killing us, the bern featured in the ad was the late harvey korman, but i can t prove it. why do they scare? so they can spend? and if someone is right and congress is just getting started, charles payne, adam lashinsky, charlie gasperino. and amelia. what do you think? we re going to see a lot more. in the state of confusion is where the democrats win and run it over and over for the entire campaign and it does, it confuses, the average consumer has no idea, but to believe that. that s what they read. the little clip is all they know about the news. neil: was it a defining clip or a defining line. and amelia hit on it, we find out it s a lie a year later. and we
will be forced into poverty and worse, some will end up dying. neil: it gets worse. look at this ad again, it s well done, look at the guy pushing grandma. does he look familiar familiar to you. do you think they want him to look like paul ryan? and the guy who addressed medicare costs killing us, now he s killing us, the bern featured in the ad was the late harvey korman, but i can t prove it. why do they scare? so they can spend? and if someone is right and congress is just getting started, charles payne, adam lashinsky, charlie gasperino. and amelia. what do you think? we re going to see a lot more. in the state of confusion is where the democrats win and run it over and over for the entire campaign and it does, it confuses, the average consumer has no idea, but to believe that. that s what they read. the little clip is all they know about the news. neil: was it a defining clip or a defining line. and amelia hit on it, we find out it s a lie a year later. and we