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Input: Mario Gabelli says the animal spirits in the markets  awakened by tax reform and strong corporate profits  are creating a new wave of merger activity and opportunities for investors.
 Gabelli  says  he 's a buyer of General Electric shares after  their  recent pullback  based on  its  industrial business. GE shares are up 1.5 percent on Monday.  He  said  his  firm is just starting to buy.
Live entertainment is an opportunity for investors   Gabelli  said  saying  he  likes Liberty Braves (which is Liberty Media Corp. Series C)  and Madison Square Garden.
 He  owns shares of casino operators Wynn and MGM and says  he  would continue to hold Wynn even without  its  CEO  Steve Wynn  at the helm. Wynn shares are plunging  down another 8.7 percent on Monday  after the chief executive was accused of sexual misconduct over a number of years. MGM's stock is up 2.2 percent.
 Gabelli  also said oil services companies are well-positioned  saying  he  is adding to  his  holdings of Halliburton and buying shares of a smaller Minneapolis-area fracking company called Twin Disc  sending  its  shares up 14 percent in midday trading Monday.
 Gabelli  said  "I'm still very optimistic as I generally am over the next six to nine months."  He  says  he  doesn't believe the market is overheated at the moment.
"It's not like 1999 when doctors were looking at the quote machines while they were operating "  Gabelli  said. "You're seeing a flow of funds. Is it too much? Not yet."

Gabelli : merger activity makes him optimistic about markets