intraday high for the dow jones industrials, and yes, it's a record. good afternoon, everybody, i'm liz claman. the dow i and the s&p both on track, actually, for new record closing highs. let's get to the floor show, we wanted to bring the traders in immediately to get the sense of what was going on on the floors. we're at the cme, the new york stock exchange, the nymex, we're at nicole petallides eye standby location and a headline from each of you. okay, teddy, if i hear one more person say a correction's coming and yet not here today. >> well, what i'm looking at, liz, is i'm looking at no volume, a market that's done 100 points, they're all talking correction, and the tape just keeps going, keeps going north. and i think they've got a lot of people fooled here, and i think we've got a lot of shorts trapped pretty good. liz: they're screaming, trying to get out of the quicksand. elliot, same with oil, we're just a few pennies away from being up more than a dollar. what is up with this? is this north korea or a dollar story? >> i think in the case of crude right now, it's no news is good news, liz. i mean, really a dollar movement in crude isn't much right now. we're a little higher than we've been. you know, i think it's a lot of saber rattling, personally, and they're talking about those south korean stocks. if those get whacked, i think they're all biased. liz: my kids asked if the bombs can reach us. i mean, it's come to us. [laughter] no, they can't. saber rattling, but who knows? it's certainly not that for the south koreans. charlie at the cme, what's your headline? >> you know, we're marching on to new highs in front of the fomc. i don't think the fed can move higher in terms of rates, and i think we had a mini correction here. we came down and tested the 20-day in the p s&p and marched right on to fresh highs. liz: teddy, i say fresh highs again and again, we've got somebody coming on later on in the program who absolutely believes the 10-15% correction is coming in the next two months. do you think so? >> well, even a broken clock is right twice a day, liz. [laughter] i mean, if you keep saying it's coming, eventually you're going to be right. liz: right. >> but the reality is whether we like it or not, the tape doesn't lie. the tape, obviously, sees something, whatever the reasons, and the momentum is clearly on upside. i mean, at some point are we going to correct 5 or 10%? i sure hope so, because there's a lot of money on the sidelines looking to come into the market. but, of course, when that happens, the money will get scared. liz: and look at the vixx, it's now below 13. >> yeah, well -- liz: i mean, who wants to jump in on that one? [laughter] >> well, you know, i think -- liz: go ahead, charlie. >> i think that teddy's right here in terms of don't fight the tape, and i think that's one of the reasons the market keeps pressing higher. you do keep getting people who are trying to pick tops. last week when we came back and tested the 20-day moving average, it looked like this thing was going down for the count, and what'd with we do? you just attracted more money here. liz: elliot, i hope you're making money. he sits there at the nymex trying to trade, just shaving pennies off crude. we know how tough it is. natural gas has been on the move. not today, though, why not? >> natural gas got to this $4 level that everybody was hoping for, and i was just saying $4 is not a big deal for natural gas. we've been in this range for five years. when we talk about $50 natural gas -- $5 natural gas, that'll get people interested. we want commodity prices to be lower so we can spend our money on teddy's stocks. [laughter] >> thank you. because i've got a few i can tell you. >> i'll bet. >> i tell you, though, i think natural gas is kind of showing, though, that the economy is getting stronger. you are seeing usage. you've seen the injection rates all year go down, and i think a lot of that equipment that was being used for natural gas now is being used for fracking, and now we're talking about going from a deficit in being a net energy importer to a net energy exporter -- [inaudible conversations] liz: certainly shows something, definitely. >> i don't agree with that at all. denmark, these people -- you know, you talk about people who have to buy gas for their cars, they're going to buy energy regardless of the cost. that is not an indicator that the economy is recovering. the stock market rally, that absolutely is. but these people, you know, you have to drive to work, you have to pick your kids up at soccer. they're going to buy gas, and they're going to heat their house. to me, that does not indicate a stronger economic recovery. liz: elliot, that was exciting. >> sorry. liz: no, no -- >> i don't like that. liz: elliot not a red bull today, i like that. gentlemen, great to see you. so much happening. we're going to move on, but thank you for being on the floor show. basic material stocks, be you really want to know what's leading the market higher today, it's that. let's find out why, head to nicole petallides on the floor of the new york stock exchange. >> reporter: that's absolutely right. we're seeing these basic materials doing so so well. energy, health care, financials, those have been some of the other groups, but really you've seen these materials doing so well. we've got alcoa aluminum numbers after the bell yesterday, today five of the top ten names in the s&p 500 are actually material base, names like cliff natural resources, freeport-mcmoran, we're also seeing u.s. steel in that group as well. so we're watching some of these names on the move, and there could be some bargain hunting. the worth s&p stock year to date down other 40%, many people are saying, hey, you know what? maybe it's not as bad as you think. liz: nicole, thank you very much. if the market gave a thumbs down to ron johnson's pretty short tenure running jcpenney, it's giving another thumbs down to his replacement. look at this chop here of losing 11.75%, shares of jcpenney sinking today. we're bringing in the retail turn around expert of all experts to break down new/old ceo mike ullman's run. what his next move should be and what it means for jcpenney. jay mar -- margolis has more than 30 years of retail, he's joining me now in a fox business exclusive. jay, you're still in the game. you've been brought in to now turn around cache which is a mall store, high-end clothing. looking at all your past background and seeing what jc penny tried to do, shake things up, that didn't work. what do they need to do, and is mike ullman the guy to do it? >> i'm so disappointed this chapter in american retailing is coming to a close. i think ron johnson did a lot of right things that mike ullman started. he started american living, he started the concept of having exclusive brands that in multiple channels can be controlled by pennies and differentiate themselves, kind of the terry lundgren model with macy's. i think ron came along said i have to keep going with this, i have to get more brands in, and i'm not sure he had all the time he needed. now, he did fire his consumer by stopping couponing and discounted in a whole different way. that was the big mistake. i think him getting hold of these brands that mike ullman will continue. he's brought in people like michael fisher who does an amazing job with retail experience from apple. i'm hoping he keeps going with the concept that multiple brands and multiple channels will work and that he will keep going forward with that. liz: just because he slapped the word apple on a resumé, jay, doesn't mean it's going to work with middle america who is the target audience. you put it perfectly, they fired their customer. >> yeah. liz: i don't see mike ullman having done anything great during his tenure. i'm wondering why are you not burying him versus praising him to take a line from marc anthony? >> the way i understand it, it's an interim role to kind of calm things. i think mike did a solid job over the years and towards the end needed to branch out, get more aggressive as macy's and others were building their brands. i happen to believe this time coming back in mike is a solid person. the financial community's going to be really nervous in terms -- liz: does he brick back what everybody got upset about, and that was the elimination of the coupon thing? >> oh, absolutely. he brings a different way of promoting. liz: what would you do? you're really known for having turned around express, limited, which was junkie stuff. you washed it once, it fell apart. you came in, you fixed it. we started wearing limited express skirts. >> thank you so much. he has to go back to promoting in a way the consumer understands. i went into the stores after ron did all these changes, i couldn't understand the promotion. he lost trust and credibility in the consumer's mind. i think the solid going back to couponing and discounting now with brands he controls. so last week liz claiborne had a promotion on dresses preeaster, that's the way it should have been done. he should have gotten these brands on track and then started promoting to get the consumer in the door. competition's different than apple, right? kohl's, macy's and sears, etc., a whole different competition than apple had. liz: adam shapiro is coming up in just an hour with a top analyst who says this thing's heading for bankruptcy. do you agree? >> yeah. it's tight. where they get the money from, is there an offering, because private equity -- does private equity save the day? i don't think mike could just cut back budgets and make that go away. they're going to have to get aggressive about getting sales up. it's tight. it's really tight. about six months ago i reported on those problems there. liz: jay margolis who noticed that nicole petallides and i were both wearing hot pink -- >> very bad fashion mistake. liz: we all need to look different. her silhouette was different from mine though, jay. >> yours look wonderful. liz: he knows too much. he's scaring me. jay margolis, the turn around retail expert. good luck with cache. we've seen those stores, see if you can bring us back into them. thank you very much. closing bell ringing in about 48 minutes. we've been talking jcpenney. it's a huge story, but it's no secret the ceo's out, the stock is tanking, but is the biggest secret whether it's buying an opportunity there or a bankrupt opportunity? we take you to the street with what we call the ratings rumble. two experts with decidedly different views on jcp. and, yes, we took it to the streets. we're going to hear from shoppers like yourselves and find out whether jcpenney was just starting to get its mojo back before it canned its ceo or whether everyone's still furious. here are a couple of your answers as we head to the break. >> they didn't have what i was looking for. >> they stopped giving away the coupons. they used to give coupons in the paper, like $20. >> you come here and you want to look forward to saving at least some kind of money. ♪ @ @ are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. given way to sleeping. tossing and turning have where sleepless nights yield to restful sleep, and lunesta eszopiclone can help you get there, like it has for so many people before do not take lunesta if you are allergic to anything in it. when taking lunesta, don't drive or operate machinery until you feel fully awake. walking, eating, driving or engaging in other activities while asleep without remembering it the next day have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations or confusion. depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunesta for as low as $15 at lunesta.com there's a land of restful sleep, we can hp you go there, on the wings of lunesta. liz: look at the markets here, we've pulled back just a wit, right now up 82 points for the dow jones industrials. a lot of green on the screen, and we're looking at the most actively traded names at the moment. we've got bank of america, jcpenney -- that's why we're talking about it, folks, a lot of you are trading this in and out of your portfolios. alcoa, of course, up just a penny. missed on revenues. we've got microsoft as well as along with first solar which is jumping significantly right now. talk about an epic disaster, i thought jay margolis was saying he was so sorry this was coming to an end because this was fun to watch, but if you own jcpenney's stock today, you're livid. not only because ron johnson was pretty much a disaster, but their best idea now is to put the guy who already somewhat unsuccessfully held the seat before johnson back in the chair? shares have tanked 55% since johnson took the helm in june of 2011. rick snyder, maxim group's senior retail analyst, was here two weeks ago warning us johnson had one foot out of the door. as he changed his sell rating on the news? and paul, morningstar equity ap list says, forget it, he's hanging on to his buy rating with white knuckles. good to see you both. okay, paul, why do you still like this company? it seems in such disarray at the moment. >> well, on your last segment i said i was a lonely alice, i might have one friend left, ron johnson, but he hasn't called me yet. but to be fair, you know, they didn't fire johnson over the weekend on the dime's notice because sales were great in march, so i think the problem is right now even though the stock's gotten really cheap, there are more liquidity concerns, and the worry is, you know, what happens next? liz: rick, i'll tell you, the biggest worry sometimes when people fire executives is that their ideas just started to take hold, as paul mentioned. they had good march sales. maybe this was a mistake? >> firing mr. johnson was a mistake? liz: yeah. >> i don't -- >> i was saying the march sales were bad. liz: oh, i'm sorry. >> they've got to be bad, or he wouldn't have gotten fired on a dime. liz: okay. so we haven't seen the march sales, but did you see any turn around? because you called this two weeks ago. >> yes, i did, thank you for pointing that out. no. i think this company's in real trouble. i think they've gone back to promoting, their margins are going to be very bad this quarter, and i think that's part of the reason that mr. johnson was shown the door. they have a severe cash flow problem, and i heard jay margolis say -- you mentioned the b word, and i think that is a real possibility -- liz: the b word, folks, is bankruptcy, and jay side tight, could be close. >> i think it will be tight. i think they have telegraphed a diluted offering in the near future, and i think that might be the reason for the sudden change. they might want to get this out of the way before the quarter ends at the end of this month so they don't have no show those numbers before they raise money in some type of a divert. liz: paul, you've got the buy rating here. bankruptcy? i'm assuming you would say, no, but it looks like it's circling like some type of vulture. >> yeah. and i think the issue here is can they manage, as you point out, can they manage liquidity, do they have flexibility on inventory, do they have flexibility on additional cost cutting. and, of course, some of it has been coming from the vendors, but they also have cap ex plans that they could, hopefully, scale back. now, you know, one thing i'd also point out is when retailers go bankrupt, they're usually not in total zero cash situations. the problem is vendors won't ship them. so while, you know, the vendors were bought into johnson, at least ullman has 25 years experience, he was president of macy's, hopefully he can calm the vendors and make sure they're not going to get cut off. liz: okay. so, rick, the vendors are key, but then you've got names he just struck deals with. the fact that they finally got some decent deciphers in there mic -- designers in there mic mar marchesa, very big in the celebrity world. we'll get to martha stewart in a minute. >> you know, it's very hard to tell. and my position on those brands is that there is a disconnect between the customer that they lost or fired and that they're now trying to get back, and what's in the stores right now. so i think that's the biggest challenge they have. i mean, they can discount, but are they going to get that customer back? liz: paul, mike ullman's name is not exciting this market at all, the stock is getting slammed here. you still hold on to this buy rating? you said with white knuckles, but what would get you to change your mind to downgrade it? >> well, again, the worry is that the liquidity just burns through over the summer which is typically the toughest liquidity burn for a department store retailer. you know, the hope is he can be the howard schultz where things went adrift when he left and then he's personally motivated to turn things backkaround when he returns. i think he's taken it personally when he was pushed out. he wants to leave on a high note. liz: yeah. i just don't think that this is going to happen here, but we're watching it. rick, i might lean toward your opinion because you were really right on in this other part of it with ron johnson leaving. pulling a howard schultz is a very tough thing to do. we want to thank you both. rick snyder, maxim group retail analyst, and paul swingen, morningstar analyst. watch out for the b word. not sure it would happen, but we are watching closely. just about 38 minutes from the closing bell. hewlett-packard, that's the real comeback kid of 2013. see, you can be down but not necessarily out. shares are up 55% this year, and one guy called it right here on countdown. we're bringing him back. we're done with hewlett-packard, because we know what he thinks about that, but what are his next big comeback kids? plus, north korea demands foreigners leave north korea to avoid being caught in an all-out war on the entire peninsula. how's the south korean economy holding up? we're going to take a look at how you could actually be making money from some of the largest companies there. you probably use their products. stay tuned. ♪ we went out and asked people a simple question: how old is the oldest pern you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ liz: talk a turn around, after beinge worst performer of 2012, hewlett-packard now up more than 55% so far this year. so we're bricking back the guy who calls it for his -- called it for his next big call. joining us now in a fox business exclusive from boston is new generation research founder george putnam who writes the turn around letter. he's the editor of it. and, boy, aptly named, george, congratulations on the call. >> thank you very much, liz. liz: well, more interested in what you see on the horizon as it pertains to turn arounds, but just a quick line on hewlett-packard. what did you see last year that indicated to you that this was a name that could really come back even before it started making some really big changes? >> well, i think it may have, actually, moved sooner tha