Skip to main content

We will keep fighting for all libraries - stand with us!

tv   Fast Money  CNBC  February 23, 2021 5:00pm-6:00pm EST

5:00 pm
with regard to its general range. look, it's been elevated with the market at its highs relative to what you might have expected. we're still in the zone of a pullback in the s&p. 3, 4% is all we got and the vics didn't see a reason to go further. >> slight decline of the nasdaq. that does it gor "closing bell." "fast money" starts now. >> i'm melissa lee and this is "fast money. tonight, the latest bandwagon. it has all the opportunity the stock come and gone. we'll get answers. plus is the dollar going digital. what the federal reserve said tote we're all over the after action earnings toll brothers and square we start off with the nasdaq rebounding from a nearly 4% drop
5:01 pm
in the first hour's trading to tend day flat. the s&p actually managing to eke out gains. take a look at some of the specific moves apple down as much as 6% facebook down 2% early trade finishing up 2%. is this a big case of by the dip. is that still alive? guy adami. >> certainly feels that way. friday night we had on our special 6:00 p.m. we had the great cassius cuvey doing a wrap about stocks he nailed it today it feels that way. apple trade 150 million shares-ish it would be nice if it got down to 110, got down to 18 17% is typically right in the wheelhouse of what apple does. again i said it last night but it's worth mentioning today. when amazon reported in early
5:02 pm
february i thought it would trade up to 3500, it did not look at today's low and look at the reversal there if you're looking for entry points, if you've been sitting on the sidelines, apple and amazon and other names we're talking about, it's probably as good as it's going to get in the short term >> we're staving off the enef tabl >> yeah. i think so i mean, i was very surprised at this reversal. this seemed like a little blip if you step back and see how far things have come, particularly the high flyers. i don't know exactly what it was that turned it around. i don't know whether it was powell, i don't know whether it was the j & j news it was a little bit of foreshadowing. i think we'll find ourselves here in the not too distant
5:03 pm
future of inflation picking up, this issue with rates and high flying multiples just as a matter of math and as a matter of investors switching out of those into more industrials and more sort of retail and open trades i'm kind of surprised to be honest i did a little bit of buying today. fedex at one point was down $9 which was ridiculous for no news. it's not that much of a high flyer. i didn't buy home depot. it closed down a fair amount i didn't do any other buying amazon sort of on my list. i nevada really bought enough but i don't know if it's cheap enough here, i'm not sure. the bounce back happened to quickly, i wasn't going to chase things >> steve, was there anything in your mind that sort of was behind this reversal >> i think a lot of it had to do
5:04 pm
with technicals and a lot of it had to do with the ten-year. if you see the ten-year, yields came in a little bit exactly when the market ran but if you look at what did run, what's odd to me, is that we as the market keep buying the same six names so we always think it's a buying opportunity. when amazon sells off, tesla sells off, apple sells off, we rich in and buy them i could call apple a value play, google a value play, i don't know if i can call tesla a value play it's a momentum play, growth play to everything that karen just said, when you discount future earnings aggressively as rates go higher, these things are not where you want to be that's why you want to rotate out of tech names and move into value. as i've said before, everyone knows what tesla is. everyone knows what facebook is.
5:05 pm
they continue to do the same thing over and over again. they get a selloff so to your question, i think people are going to get beat over the head buying growth one too many times value looks to me to outperform. >> or it could be we the market. they're very differentanimals, these top six stocks but they trade so closely together and to me, that's a sign of how we trade right now as investors, and that is a lot of baskets, a lot of etfs. >> makes me want to sing "we are the world" for some reason but we have a case where we as in the s&p had been outperforming the triple qs over the haas seven days by about three and a half%. remember that move in september? i think it's instructive to think about we've seen the last of the go-go run for megacap
5:06 pm
tech that was a 5 1/2 pullback. the move in apple from january 25 to the interday lows today was almost 19% the flow september from a wicked blow off top was about 25% the relative under performance of apple to the s&p then was about 15% and it's getting close to that here where do you step in and buy i just think that the psychology of the market is still wanting to find -- at least be driven by horses that continue to be names you can sleep with at night. there's nothing about apple and google, for example, the two names that we've talked about that i think has changed even in the higher rate environment, they're not the stocks that have the bull's-eye on their back. i think the last week or so with
5:07 pm
a rate move higher, steve was right to point out the relief that's coming for equity investors. get us to 160 on the ten-year and i'll start worry about how much we overshoot level. but in the meantime, we've seen this before. >> stimulus is coming, presumy, right, guy things should be improving in the economy. theoretically, the enp should expand shouldn't we account -- i understand rates will going higher as well and that's a dampening impact, but all in all, isn't this a good sign? therefore, should we really billion concerned about the valuations of an apple which has pretty steady earnings of an alphabet, for instance >> names, you can go to sleep at night owning >> i think you would agree, i know karen and steve as well, i don't think valuation that is much of a concern. i mean, maybe a tad more than they've traded historically,
5:08 pm
specifically apple, but not out of the realm of normalcy it's some of these other high flying tech 2345i78s is where you need to be concerned maybe some of these names that find themselves in the russell where you need to be concerned tim just hit the nail on the head sormt of the line in the sand. 1.6% and the tail winds that higher rates bring i think will become head winds and i think that's why you have to be concerned. we. >> steve mentioned this, tesla was a stock caught up in today's reversal arcinvest, she said though bought quote unquote a hot of tesla today. we were talking on the earlier call today about the strange, you know, tick in tesla along with heavy volume at a certain
5:09 pm
level. >> yeah. so with etfs, someone imagines aetf there's sometime during the day where effectively the market makers in etf are creating new etfs tesla, i believe, is around the 10% position in the arkk, so around 9:50 to morning we saw the bottom for tesla at around 619, 620 a hyundai average, by the way, that tesla is only traded through twice, really since it was a the $50 stock. i know that seems extraordinary. that was during the period of the wipeout of the pandemic from lid to late march. largely that move in the stock tells you how extraordinary, almost 32% over -- off the top and i don't know, close to 20% in two days to that interday
5:10 pm
low. rallied up almost 13% but by 10:00, 11:00 a.m., the stock was back to where it was today, what a wild ride. i guess that seems almost redundant to say with tesla, but the fact that she was back in buying, we know she's had a great call on the stocks, so i'll let others decide on that >> the stock is moving in response to that headline that she bought a lot of tesla stock. >> karen, what did you make of this it's kind of peculiar. a 00-day moving average precisely. >> and a hundred billion change in the market cap during the day, that's kind of amazing to me on no fundamental news as far as i could tell that's just sort of -- it really adds to the casino-like feel of the market right now, right. the correlation among things that you talked about that
5:11 pm
aren't -- shouldn't be correlated in terms of what their businesses are, and yet as stocks they are very correlated. we also talked about vics. i was surprised the vics wasn't higher and i think at the close of day, maybe a little bit lower. that's amazing to me because it feels frothy, for sure so i think as i said before, i think this is just a foreshadowing of a selloff that we'll see chchlt won't a big deal we've a number of them we've seen it a bunch of times it's happened. a loft of times, it's healthy. >> yeah. guy, what tim said about the 100-day moving average, seems to me that's a level you trade against. >> uh-huh. look at you. oh, buy god. it's been like you've been doing this show forever. >> forever forever. >> a great line out of -- we're
5:12 pm
going to have the great carter braxton on and he's going to tell you it traded on the pony, as he likes to say i think that's right it gives you an opportunities to trade against something on a big volume day and again the headlines from cathy woods at least you know where your potential out is on the down side, which as a trader is a wonderful thing to know. >> we thought we'd ask the chart master let's bring in carter worth to chart it out carter, what are you looking at? >> certainly, we just found out that most important and biggest holder of tesla did just that. in any event, that very popular thing on twitter indeed is what happened today and i thought we'd look at a few charts on the market and i've got a couple of stocks where i think the weakness is an opportunity versus a problem so just first a slide.
5:13 pm
we've had seven dips, if you will, since the march low. all right. the median and mean almost the same again, 7.2% median decline, 7.07% average decline. so here is a chart these are the dips you can see them there they've been regular whether one calls it a dip or a pullback or a selloff or a decline, in the etymology of correction, it implies that it makes it better. something's incorrect, and when you correct it allows you then to ape send again. you see the very distinct drawdowns, if you will but the other is minor the others as much as 10%. all the others by six, soviet union, and meaning seven, this is only 3.7% peak decline. our hunch is that there's more to go. how much more to go? well, next slide one thing to do is to draw your
5:14 pm
trend lines. were we simply to get down to the trend line in effect since the pandemic low and the low of october. that would take us down about five and a half, 6%. we're down only 3.7 as of now. last chart and then a table. this one is another way to draw the lines. it's the same ascending up fwrind it's the internal trend line on the top. what's important about this it's a well known formation it's an ascending wedge, if you will they are often revolved poorly, which is an exhaustive type thing and you come through the bottom i think that's what we're looking at, to the trend line if not more next slide the weakness in them is an opportunity. so a simple table there. these apple, amazon, docusign,
5:15 pm
stocks that are well off as of today's close from their 52-week high versus the s&p, it's down only 1.8% from its all-time high i'd rather take advantage of some of these that are, quote, mature, docusign being the exception. >> i take it, carter, that your technical take of cath wood's buy on tesla is that there will be more loss toss come in this name >> in terms of tesla, what was it, about a 34% decline and it's taken place over weeks if you remember the september 2nd peak, that was 30 plus percent. took place in four days this selloff is nowhere near that i think her buying at those lows or wherever she bought >> carter, thank you
5:16 pm
steve grassley, you like any of those names on carter's list >> i do, but the problem that i'm having with it is that i don't want to get caught up in this rue teen in technology. a people that we mentioned at the top of the program, apple, rsi. we know that oversold. it got down to 35. none of those names are gauging or reading on an oversold basis. the only one i would feel comfortable buying is apple and i'm long >> tim >> amazon, look at that amazon chart. this is a quiet amazon consolidation between 32 and 3500 this has been going on for nine months it may be slightly slower growth on aws but their e-commerce business at the time, a driver forever other retailer continues to take market share, so i like
5:17 pm
amazon here. i hold my nose on valuation. i came around to that probably four years too late. but search have understood that for the last couple and i like the stock here >> let's get to the latest development in the gamestop saga shares are down by almost 5% after announcing a major management change. josh joins us with details >> melissa, we have some changes in gamestop's c suite here they're saying that jim bell, vice president and cfo will resign march 26th. the company thanks mr. bell for his significant contributions and leadership, including efforts, as they say, over the past year during the covid-19 pandemic he was appointed in june 2019. they're searching for a permanent cfo. fundamental someone not in place at the time of his depart schur, it will appoint the chief accounting officer as interim
5:18 pm
cfo. the stock all time low in january. it's down about 90% since then but about 220% over the past three months up about 17% before its april low. back to you. >> josh lipton, unbelievable that the high is ten times where it's trieding right now. never a good sign when you see a cfo resigning. i'm curious what your take -- there's not a lot -- there's a lot we don't know about this situation. >> yeah. there is a lot the number one question i would have of the cfo is did you try to do any kind of offering and if not, why not? and other than that, the guy muls -- exhaustion, something. it's a crazy ride. on no fundamental news whatsoever, so that's pretty extraordinary. that question i really want answered some day. >> it's still up multiple of
5:19 pm
where it was, guy, which is also remarkable in and of itself. >> yeah. if they don't fill the role, maybe they could bring in the midnight kitty he seems to know more. the number one question is, i don't know if we've heard from gamestop where were they? a lot of companies did secondaries on huge moves to the up side. where were they? maybe they couldn't do it. at least come out and say something. the stock gave you an ample opportunity, my sense is, to get something done, and paralysis by analysis, as they say in our business, is never a good thing. i'm sure mr. bell is a nice guy but he should have rung the bell north of 300 as we sit here today. >> even if they miss the highs and they filed for an offering and they filed at, what, 50? that would be altremendous improvement from where the stock was trading in the fall. steve grasso, or in december
5:20 pm
it was a great opportunity to raise more capital than they thought they could raise just a few months ago >> yeah. i think that's probably why he's leaving. so all the questions that we have, that's probably the crux of it is that somebody tapped him on the shoulder and said, did you go away for a couple of weeks? why were you asleep at the switch i think we all knew on this desk how this was going to end and the chart reflects that. but yes, i agree they could have changed a lot by raising some capital he didn't do it and i think that's why he's butting elbows out the door >> did you catch the gaming reference? falling asleep at the switch >> i didn't even know about that. >> the stock is down whether you appoint hello kitty or kitty carlisle, it doesn't matter is you've got a case where it's just amazing to me that the
5:21 pm
stock reacts in the aftermarket when this has nothing to do with fundamentals >> coming up, issuing digital dollars. much more on that straight ahead. first, earnings news check out shares of toll kband square eds on car insurance and a whole lot more? hmm. so what are you waiting for? captain ahab to help you find a parking spot? thar she blows! whoops! loading zone. darn it. pull hard to starboard! too small! seriously? because it...ugh. oh! follow him! steady... steady... oh! thunderation! to the northern lot where there be parking spaces as big as whales! geico. see all the ways you could save.
5:22 pm
this is how you become the best! [music: “you're the best” by joe esposito] [music: “you're the best” by joe esposito] [triumphantly yells] [ding] don't get mad. get e*trade and take charge of your finances today.
5:23 pm
5:24 pm
>> welcome back to "fast money." we start with indkate rooney. kate j square on the top. the big stars of this quarter for square, cash out and bitcoin. let's start with bitcoin square announced they bought more of the kriptdo currency we don't know exactly when that was purchased. this was in addition to a $50 million announcement that was first disclosed in october. square now holds about 5% of its cash or cash equivalent in bit county the analyst call just kicked off. bitcoin is the native kurpsy of
5:25 pm
the internet it was described in a similar way on a media call right after the results came out, she said bitcoin is the future of square. they want to participate, she says, and learned from a disciplined way. i did ask her about the risk any risk there we'll see if we get any more color with that. bitcoin is now making up a much bigger part of square's business as well. it made up about 5% of gross profits in fourth quarter. 1.6 billion income tha increased about 10 x from the year earlier the ceo said bitcoin users are more engaged with the app, they're more active and tend to bring in more revenue than those who don't trade in bit county. profit was up 162% year over year it makes up roughly half of the company's total gross profit square didn't give any guidance. the stock is down about 5% after
5:26 pm
hours. back to you. >> thank you, kate we've talked about that fly wheel tekt in terms of those people who go on the platform to buy or sell bitcoin. mizzou hoe, that's a big part of them how should we think about that bitcoin purchase looks like they bought it above where it is right now. does that matter in the end, though >> i don't -- i don't think it matters in the end i mean, clearly they're going all in on bitcoin here if you look at their shareholder letter -- by the way on the cover of it looks like a bubble with bitcoin inside of it. but they're all in here. and i mean, i don't think the mark to market really matters. i think if we really start to see bitcoin go down a lot more than maybe it will if you look at a -- not tesla -- >> like a microstrategy.
5:27 pm
>> what's that -- >> microstrategy. >> microstrategy, yes. that got annihilated because to have human bet of bitcoin. cash out is great. that's be a tremendous driver of this business. i think that probably continues, but i think the weight of the success, the valuation of this company, they almost couldn't report anything good enough, the bar was so high. so it's down -- i don't know what -- four, 5% i think there's more down side to go. great company, though. >> guy >> well, it's either very good or very bad. in the short term probably the next few months, i think square's going to be one of these problems withy stocks for bitcoin. whether that's justified or not, that's the way the market's trading. karen brought up about tesla's move to the downside i think a lot of that was on the back of bitcoin. she mentioned microstrategy. whether it's justified or not, you're going to see out sides
5:28 pm
move all that being said, there are a lot of people who think this is a 380 or $400 stock. wonderful company. i think it's been constrained by valuations in the volumitity in bitcoin. >> let's get to toll diana has details. >> it was a strong first quarter for toll brothers, the luxury home builder across revenue and eps. the stunning numbers are in the contracts. that is 59% gain year over year and the value of those signs contracts up 68% this is not surprising because the home builders across the board have been doing extremely well due to this pandemic driven demand for housing the sales have been good on higher end which is where we're told it ends he pointed to favorable demographics continuing, fight
5:29 pm
supply and a heightened appreciation for homeownership, especially among our customers all of that is correct except the low mortgage rates part. as we've seen in the past week, mortgage rates have spiked higher at the fastest pace in more than a quarter. up more than a percentage point in the last week not only that, but home prices, we heard up over 10% year over year in december that's for all homes across the board. that is incredibly high for home prices that's the biggest increase annually in over seven years when you're talking about higher priced homes you're talking about potentially high morning rates. you're looking toward the spring market coming up they did point to a slightly higher guidance. then again, the question of
5:30 pm
those higher mortgage rates, how is that going to hurt this spring buyer >> quickly, how should we think about higher rates in the context of who the consumer is i agree it impacts your daily -- or your monthly payment but at the same time maybe high-end buyers are more used to that quarter percent increase >> they will but also it's a big monthly payment. while they don't rely so much on the small moves up, if they start to see a big move up, it could cut into their command it could make them think i don't get a toll brothers home but i can get a lower priced home. the higher end not as sensitive to morning rates but when you see mortgage rates going higher and home prices going up, nobody wants to buy a buying knight
5:31 pm
>> sure. diana olick, thank you tim, what do you make of toll or anywhere else in the home building sector? >> well, if you look at toll brothers, the stock has moved decidedly higher this year almost correlating with the ray. there would be olympian of opportunities if it sold out that 790, 10,000 selling price, what worries me most about home builders is their mr j chip and profitability. look at copper prices. look at lumber prices. look at cost inputs. i think it's getting more expensive for these guys to build a house. what they can pass on, let's see. the demographics are working in their favor. the motivation of the home buyer has never been better. i'm not scared off by higher rates. i'm scared off by higher input costs. >> check out churchill capital almost a 40% drop in a single
5:32 pm
day today. more spak news that and much more when "fast money" returns
5:33 pm
for skin that never holds you back don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin
5:34 pm
the great news is that lucid's a tech company we're bringing the world's best technology to the market here in the u.s. i think that the valuation is a reflection of our technology i think that ha has been validated and endorsed this is a tank race. i believe only two companies realize that and recognize that. tesla recognizes it. that's throwed their preeminent
5:35 pm
position lucid recognizes it. we welcome the kpe figures bring it on. >> there are $16 billion spak deal with churchill capital. church hill falling nearly 40% that announcement. our next guest says it's just the tip of the iceberg alex, great to have you with us. >> thanks for having me. >> there are so many people who are willing to buy a ticker because it is a spak spac. it's best to own the spac when it's best to sell the spac when, on average, of course? >> yeah. so on average -- and thanks for having me. we in our study on spacs down research, we have found that essentially the market euphoria
5:36 pm
should be taken with a grain of salt and that that narrow window of opportunity is really in the first few months post combination and holding really any farther than that offer of diminishing returns in the short term and that's the risk premerger, of course, the due diligence is required on the management, less than the company to be merged because there's less clarity on that front. >> what do you consider post merger because these days, there's all sorts of rumors that this spac is going to go up and go up. that was the case with lucid motors and churchill capital when you say, you know, the merger, what is that date? is it when it's formal laically nounsed, when it's done? >> yeah. so in terms of the view that we
5:37 pm
took for our study, the merger date was the date that the acquisition was actually made. not the announcement date. >> so in terms of the -- the biggest gains, then, would be just in that window of time after the acquisition was actually made, is that right >> correct yeah steve, you got a question? >> the first -- >> yeah, yeah. sorry. so alex, when you look at this, though it sounds very mechanical and i understand your point about investing in spacs i've done a handful of spacs and i've reaped the rewards of them, but when huh look at a spac, i concur i look at the management team first. then i look at the company that they're buying once you look at the company that they're buying, if you believe in that company long term, does all the season -- i don't want to say seasonality, but the time line is sort of
5:38 pm
just mechanical to your point, so you're going to get that sell off, but if it's a great company, then you should get -- in theory, you should get a rally moving forward no >> so our study looked at 155 spacs over the past five years, between 15 and 20. we looked at them in terms of whether they made money and outperformed their respective sector indices, whether they made money but underperform, or they lost money entirely what we saw is post the combination that a wider and wider ratio of spac lifting lost money as time went on, even though the potential returns in those that make money does not -- does increase it's hard to catch that -- the unicorn, if you will, on the successful spacs versus knows
5:39 pm
that move money. >> alex is here. i might be catching you off guard but have you studied the spacs that are running out of time and have to come up with some acquisition in short order, how those have done? >> that wasn't the focus of this study but i'm sure that there are still angles for us to explore in the future for the benefit of your viewers and their clients. >> i think you're going to be really busy this year, alex. thank you for your time. >> thank you >> alex korda of edge. i think that's a great point that karen makes, tim. with the flood to market of all these spacs, everyone is looking for a target if you're running out of time, you might make a bad acquisition. >> oh, yeah, oh, yeah. it's a great point it's a great question. depending on the industry where there's enormous tail winds in momentum, some of these industries, it's about raising the money to chase a big deal.
5:40 pm
this has been going on in cannabis i think there's been some successful with ones but again a volatile industry. especially when you're chasing the same assets as private equity in an ipo market rewarding companies coming to market without these other aefsz. i think it's clear to note that spacs are a vehicle that is, you know, not just a byproduct of eno enormous liquidity the public stock markets tend to throw around underlying asset prices in a way that it's like owning private equity in a public vehicle i think we have to be careful not to overgeneralize but there's no question the spac momentum is here and in some sectors, it has been the mechanism to get to a market
5:41 pm
>> it's probably different than the spacs vintage fweft or whenever that edge study started. a lot of investors are just buying basket of spacs they're scooping up everything because they think with that basket of stuff there might be the next tesla or the next amazon in it >> '82 was a great year for bordeaux 2020 we may look back and say it's akin to the a-rod had a great came pain as tim remembers. i know steve does. it really has to make you scratch your head a bit. this is at the feet of moneying flying around and supply and demand think about all the spacs looking for targets. there are not as many targets. there are a lot of spacs, that's going to play with prices. it's going to be problematic
5:42 pm
ars, andrew roark, read some of the things that he's put out >> particularly on cciv and lucid. bitcoin down 16% to start the week we'll break down the action next plus, invidia has been trading in the last fewew eks but is there more pain ahead? when "fast money" returns. only nature's bounty does. new immune twenty-four hour plus has longer lasting vitamin c. plus, herbal and other immune superstars. only from nature's bounty. we see smarter software delivering cleaner power. emerson's breakthrough technology enables the power industry to integrate renewable energy sources to modernize and improve the electric grid. emerson. consider it solved. and improve the electric grid. emerthese days, we wantlved. sophisticated but simple.
5:43 pm
cutting edge made user friendly. in other words, we want a hybrid. and so do retailers. which is why they're going hybrid, with ibm. a hybrid cloud approach with watson ai helps manage supply chains while predicting demands with ease. from retail to healthcare, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm.
5:44 pm
cyber attacks are relentlessly advancing. to end them, cybereason built a cyber security solution so advanced... it can end attacks today -- on computers, mobile devices, servers and the cloud. and deliver future-ready protection,
5:45 pm
keeping you sharp for tomorrow. join us, the defenders, in our mission. cybereason. end cyber attacks. from endpoints to everywhere. welcome back to "fast money. bitcoin plunging, dropping below the $50,000 mark jerome powell testified on capitol hill today take a listen. >> we are the world's reserve currency, and we have a responsibility to get this right. we don't need to be the first. we need to get it right. it does hold out the prospect of the things that you mentioned, very positive. it could help with financial inclusion as well. at the same time, you want to avoid creating things that might be destalizing or that might draw funds away from the banking system we have a banking system
5:46 pm
>> so what would a digital dollar mean for bitcoin and the broader bitcoin space. let's bring in brian kelly good to hear from you. i kind of thought that dollars were already sort of digital i can send you money by venmo or paypal or venmo. >> we have a digital dollar already. how many people, if you have kids you know that they never ever use cash. everything is going to electronic payment, so i don't think there's really that big of a deal about a digital dollar. you know, on the other hand, i think it would be just fantastic for bitcoin, because what you do know is that once a site has a digital wallet they will continue to print that money and that is the exact opposite value proposition than from bitcoin. >> you think it going ahead with
5:47 pm
the digital dollar, that would mean they would print more money, because it's just that much easier? >> yeah. exactly. there's two things instead of mailing out stimulus checks, they simply credit your wallet with more money alternative, if they wanted to get you to spend that money, they'd put $1400 a week and if you don't spend it, they take it out. again, i think it would be really good for bitcoin. >> bk, it's tim. first-time caller, long-time fan. my question to you is that volatility around bitcoin over the last few days but maybe even the last six weeks, but the move is down. within the community of bit county traders isn't this type of move almost perversely seen as positive and doesn't it embolden the core here there have been so many runs where people say the sky is falling and they are followed by
5:48 pm
higher highs talk about that in the sector. >> that's really a great point love your work on the show here. i'll tell you what -- >> if thank you. >> if you look back at the 2017 bull market, you have multiple pullbacks of 30% this is not unusual for bitcoin. it sounds unusual, you know, in the context of stocks, but for bitcoin, this is a very natural part of what the bull market is like and people who have hallowed or hollowed in the world, ultimately here you want to buy the dip i think we're just getting started with square buying and microstrategy and other s&p 500 as well as the institutionalization of just getting started. i think we're in the first couple of innings of this bull market >> thanks for phoning? >> thanks for having me. >> it is only tuesday and we're down what so far this week guy, i thought it was an interesting notion that the fed,
5:49 pm
if it had a wallet that the fed created that kit wire you money and take away that money if you don't spend it used to be the opposite. >> that's a brilliant idea from bit -- listen, fundamental they go down that road, which who knows at this point what they're willing to do to get the desired result but you might as well -- instead of the name thrower, they might as well just nuke the entire thing. the dollar is going to get crushed on the back of that. you know i'm no fan of the federal reserve central banks, the whole bang, if they go down that road -- bk just spoke to it i think they're licking their collective chops that would billion proof positive that bit copy has it right. good for bk for pointing that out. >> how investors are getting ready for earnings due out tomorrow "fast money" back in two
5:50 pm
♪♪ these days, it's okay to do some things halfway... but taking prescriptions shouldn't be one of them. so cvs works to make them affordable with a proprietary search tool that looks for savings. plus we deliver, free. no wonder cvs customers are better than most at staying on prescriptions. which tends to make you healthier. get a free prescription savings review at cvs.
5:51 pm
5:52 pm
some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;)
5:53 pm
i made a business out of my passion. i mean, who doesn't love obsessing over network security? all our techs are pros. they know exactly which parking lots have the strongest signal. i just don't have the bandwidth for more business. seriously, i don't have the bandwidth. glitchy video calls with regional offices? yeah, that's my thing. with at&t business, you do the things you love. our people and network will help do the things you don't. let's take care of business. at&t. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding]
5:54 pm
power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most and $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today.
5:55 pm
>> welcome back to "fast." invidia dropping ahead of results after the bell tonight bonneau joins us bonawyn? >> thanks, mel hopping right into invidia, calls outpaced puts about two times to one looking at the implied move from the options. options are implying about a
5:56 pm
6.5% move compared to a 2.5% the trade that jumped off the tape for me, about a thousand of the february 26th -- so this friday ex piree -- 5600 calls for just under $10, setting you up nicely. what i thought was interesting about the trade, earlier in the session we had that selloff. these options were bought in there, allowing you to define your risk, quote unquote, catch did falling knives but in a risk denying way. >> tune in to the ll sw fuho friday up next, final trade turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in.
5:57 pm
now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪♪ so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america.
5:58 pm
but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business.
5:59 pm
time for the final trade let's go around the horn, tim. >> here's a consolidation at the hyundai i'd definitely buy it's poised to move higher with commodity prices >> karen >> final trade which i did today which is today ex. i love the valuation. >> steve >> this is 2 year of ge. up 20% on february
6:00 pm
i'm looking for another 20% quickly. >> guy adami >> to tell the truth, mel, see, i know you don't know what that means, but the kitty carlisle fans do. lockheed-martin, stocks going higher >> all 25 of them. thanks for watching "fast. mad money with jim cramer starts now. my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. you can call me or tweet me. i love the english language.


info Stream Only

Uploaded by TV Archive on