If Google's Android were to pick up, Brian Kelly of Kanundrum Capital asked if Gillis would change his mind about Apple. Gillis says there is a "real threat" from the Android product. But he says Apple's future is not in phones, but in the iPad as an advertising platform people are not factoring in.
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TRADING FINANCIALS: MORGAN STANLEY CEO JOHN MACK ON GOLDMAN SACHS
The Fast Money traders also discussed comments made about Goldman Sachs by rival Morgan Stanley CEO John Mack, who despite their rivalry, seemed sympathetic.
"I think there's a lot of questions being asked and they're going through them one at a time... the problem is, this is everyone jump on Goldman," he said.
But host Melissa Lee points out that a GS analyst advocated buying puts on the Bank ETF , suggested weakness in Goldman may, in fact, warranted.
Tim Seymour of EmergingMoney.com says financial regulation scares him because it will affect every aspect of the economy. He is not sure if the lawmakers working on the legislation have though through transactions as they exist on Wall Street. GS made things worse for themselves by not releasing information more quickly, Seymour says, but despite the bad press, they are no different from any other financial institution. Seymour thinks the whole sector is "vulnerable."
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CALL TO THE FLOOR: TALKING STEEL PRICES WITH NUCOR CEO DAN DIMICCO
It seems commodities traders are chattering about movement in the price and supply of steel; with a new mill in Alabama and a Chinese company opening five new mills in the US. Concerns about a glut are the "Achilles' heel" of the industry, Nucor CEO Dan DiMicco tells us.
And to make matters worse, despite the new mills, jobs aren't being created in any meaningful way.
DiMicco says globally, the industry is not operating close to peak capacity levels and he's worried what affect more capacity will have on steel prices.
Watch the video for the full interview.