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tv   Fast Money  CNBC  May 12, 2021 5:00pm-6:00pm EDT

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>> a reminder of how we finished on wall street the s&p 500 down 2.15% and the dow down 2%. 2.7% energy just eked out a fraction of gain but a lot of selling on wall street. that does it for closing bell today. "fast money" starts now. i'm melissa lee and this is "fast money. tonight on fast, the four most important charts in the market following today's big sell-off each trader has the one thing they're watching and why could tell us where we're headed next. a major trade alert. her position in one of the big banks. you heard that right karen is selling a bank. why reading the register on the name and bargain hunting five names down double digits from the recent highs. we start off with a major market meltdown
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plunging more than 2.5% to its lowest close in more than six weeks. s&p and dow dropping more than 2% as inflation saw the biggest spike in 13 years. that inflation taking the wind out of the sales of the tech trade. look at some of the moves in some of the biggest names in the market all down 2% or more today. so what do you make of the sell-off, guy? >> we started last night's show teasing the cpi today. first time we've ever done that in "fast money" history. i didn't think it would be anywhere near this i thought it would be hot number, but nowhere near the number we saw and then you saw the subsequent, what do i make of it? all the things we've been concerned are coming home to roost. i don't think they are if you're looking for a line in the sand, sarah talked about it just wbefore we came on air. i'll give you the tlt level. march 18th low was 133.19.
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a couple handles away from that. close below 133 and a clear glide path obviously i think that's negative for the market. remains to be seen if i'll be right. >> the cpi print and the markets see what they want to see. in the cpi data, it was driven by spikes in used car prices as well as spikes in airfare and hotel prices all these things seem to be transitory they can certainly be explained away, tim. why did the markets come to the conclusion that this is not a transitory spike in inflation? >> well, because if you look at inflation break-evens and we don't need to get too deep inside of baseball here on this, effectively, around 255, 257, inflation break evens high as they've been since 2005 on the cusp of, again, commodity supercycle and assetcases,
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major assets like houses and the fed is still on the market buying mbs with two fists. there's a lot of elements of this the most, i think, impressive and impressive is not necessarily what people want with inflation are the month over month readings. i read peter's stuff all the time he talked about just, we all know that on the year over year basis, the comparisons can be pretty nasty in terms of massive. we know where we were a year ago in april but the march to april month over month the pace, the delta, the rise in inflation we see now i think is what is concerning and it's without necessarily getting the services inflation and that maybe is your point, melissa, wait until we get that before we lose it. used car prices, who cares we know people are going to the first hotel in a year but i think that's not what it is and inflation readings high as they've been in 15 years >> nothing worked today. that was the curious thing about
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today's market if you think that inflation is, nothing worked bonds didn't work. stocks didn't work gold didn't work it's sort of like a conundrum here >> it is there were a few pockets of things that worked i think energy maybe worked. big cap pharma worked. but other than that, no. i mean, talking about blood on the streets and some is my own, for sure big position in alphabet and in facebook those clearly didn't work. although, at the very end of the day, i did start to buy a little i look to buy some more tomorrow i like days like this, not for the pnl, which is painful but for the opportunity when people start to get really bent out of shape and things trade down in int integers the time to throw out the baby with the bath water and some of these things should have been down a lot right? they're still not at a valuation
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that i would find attractive some of the super high flyers. igb, clearly, too early. those names could come in further but the value names, i don't know i'm happy to start buying here i know i'm not going to, i know it i'm looking to buy >> yeah. you mentioned value names and what worked. i mean, we had industrials we had regional bank stocks. these sectors were down 2.5% still with rates higher. and so i'm wondering, if you are a believer that the economy is hot, that interest rates are rising, what is the trade here because nothing worked today >> if you say nothing worked, if you look at the xle, the energy etf, only off 2% from the recent highs. the xlf only off 4% for the recent highs xli, industrials, only off 5% for the recent highs
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google is down 10% from its recent earnings spike. so you've got to stay in those three things got to stay in value i would continue to rotate out of tech. google is no way considered a high flyer it's not overvalued. it's not a high multiple name and they're coming after that. anything that's tech, tech-related, they are shedding out of their portfolios and they're buying value would stick there. >> is there purge, this rotation in technology has a lot more pain ahead >> well, i mean, i know steve has been talking about this, i know for a fact tim has. a lot of these, for example, these semi stocks. when we talked about the shortage in chips. you can look and for a lot of these names, a subsequent spike. that marked the top for a bunch of these names it's been fascinating to see the wind taken out of the sales of those a month and a half or at least two months ago which is pretty fascinating
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is there more pain ahead it feels that way. look, i think rates go higher. i was shocked by the number today. i thought we could see yields back up a bit today on the back of what was going to be an inline number. i was wrong but 133 in the tlt, that's your line in the sand that gives us a clear way to 2%. i don't think these high flying technology names are going to like that all that much. >> yields are at 1.69% or so tim seymour, we're not too far away from the high in march. we saw that but do they assume interest rates are going higher with or without jerome powell? >> yes and that's kpathexactly right. the market will do with their expectations of inflation, and not wait for the fed and why wouldn't we go higher based on, albeit, the jobs number of last friday seems like a very distant memory at this point but the readings we get on the economy and the reopening.
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the dynamics around us everything in the inflation print and the subcomponents you talked about tell us that the 10 year should go higher. again, i don't want a 60 basis point 10 year. i think we want to see the 10 year at 220 and i think equities ultimately will give something back remember, this isn't a tina moment there's other places to invest 3% move or 4% move through the s&p after moving 26% since november, i'm not sure that this is the worst thing going so far, i don't like inflation and this may be high core inflation or reflation but it's not high inflation it's not high inflation. i want to repeat that. so i'm not terribly distressed right now. >> inflation, or fear of inflation. cause the sell-off let's bring in steve liesman,
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the man who can answer the question do you think, steve, that the fed is increasingly feeling boxed in that it needs to start changing the language that it uses with the markets when it comes to inflation and its time frame for raising rates? >> i think the fed is making a very bold call here on the economy and on inflation, how things are going to work and knowing the way i think central bankers think, i'm sure there's some doubt about that, but everything i hear, melissa, suggests to me that they are not about to change their general idea which is that this inflation is going to pass through the economy and that the key metric to figure out when and if it's time to change policy is more linked to the jobs numbers and the overall growth of the recovery of the economy and the pandemic that it is to these inflation numbers that it sees as temporary. >> steve i thought i knew what the word
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transitory means but i'm not sure i do in the way that the fed uses it. so this is what got me thinking about what is transitory i saw a tweet this morning from north man trader otherwise known as sven to us but tweeted this picture of a meteor on fire coming down to earth with dinosaurs roaming the land saying, is this a transitory event? meaning, yes, the meteor just flashed right by it took one second but it also scorched the earth and created an extinct species what is transitory in the fed's view >> well, let me first quote art cash who said once, the end of the world happens only once, it's a trade you have to time very carefully i would say that to your meteor metaphor, so to speak. look, can i show you transitory? let me, put up that airline prices chart that i have
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and you guys chew on this a little bit i have a couple things to say about this this is the index of airline fares. at its worst, they were down 30%. they've come back down to being 16% from the high in february 2020 you can see there that jump that you just had up on the screen of 10% in the past month. we are still down from where we were february 2020 if you wouldn't mind, this was uncalled for ahead of time but if you could put up jtes, the airline etf, you guys did not buy airline etfs up by m estimation 107% in the past year without thinking that airline prices would come back so i guess i'm answering your question, melissa. this is the meteor you expected to happen. i think a better metaphor is this you know how you go to a gun
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range, and somebody says i'm about to fire this weapon that's going to be a really loud noise. don't freak out. guess what happened today? the gun went off, you had a big inflation pick because things like airlines came back. away from home down to where it was, that came back. heard a big boom and now freaked out. a lot of the pricing in stocks was for this exact thing to happen if you want to get back to the recovery, you've got to have the recovery prices. i'm not saying inflation is not something to worry about put on your area of concern, i'm saying the freakout today if it was about inflation is perhaps a bit overdone >> so steve, using your weapon and quoting the grateful dead which i think you know, william, stretched no more and furthermore until a change had to happen. and i might have slightly paraphrased the last part because i think that's what the fed is running into. they're trying to create
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possibly 30 or 40 or 50 or 70 inflation points at the risk of an asset bubble. does that make sense >> it's a good question. and the quote is william, won't stretch no further more. to be precise. >> wow i knew you would know that >> that said, yes. they're playing with fire. they're a little nervous guys like them are nervous but another metaphor, it's not a very seemly metaphor the anaconda digesting its meal. it passes through in the worst sort of way, i guess, is the best way to put it i can't tell you how to trade these crazy tech stocks but when i look, for example, at lumber futures. 50% of commodities are in
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backwardation. the bent in the markets right now is that this inflation passes through the guy in the lumber market said the mills are not coming up to speed available seat miles are 30% below where they were in 2019. so how do you play that in terms of inflation they bring these back, got a little bit pricing power in there but does it need continuous 10% rises in airline fares? i don't think so >> steve, i'm with you i've been to a gun range i went to one in wyoming it was pretty cool never shot a gun before, that's neither here nor there i know you know this so much, not breaking any news but the gunshot, i mean, from the sound it makes, leaving the gun to the target is transitory but the damage it does to the target or to the watermelon or whatever it's shooting at is permanent in a lot of cases. that's the point could the damage done waiting to
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get through transitory be permanent or so bad that it impairs the economy for years to come >> definitely some risk of that, guy, and you cannot dismiss it i don't think the fed is dismissing it. you had comments today who said if you get a change of inflation expectations and by the way, that's the target they're watching if you want to know what the fed is thinking, watch, i think it's friday at the university of michigan inflation expectations there's a new metric out from the fed i just started studying today that aggregates the inflation data but that's like their inflation dashboard. they believe that tomorrow, not just tomorrow, next year and then three years, prices will go higher that's what they're worried about but right now the way they look at it, 3, 4, and 5 year forward inflation expectations are relatively under control if there's real damage to that, i believe the fed will act and those are the things to know
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>> not to harp on this whole transitory thing, steve, but i'm not sure if i got an answer out of you that's clear. i've left the meteor by the wayside but is the implication to get back to pre-covid levels and whatever that time frame is, that's transitory? does that mean we're going higher and staying there to me, is not transitory >> that's right. that's probably right. that's not wrong but that's not inflation if you get -- >> so everything that happens between now and there is not inflation. >> it's not the second or third derivative of inflation. then you have accelerating inflation. i want to call up a spread sheet i made earlier today, melissa and i figured out, okay, so 0.7% of the increase today was simply base effects you had a fall-off of the decline from the pandemic. so what does that mean
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if inflation rose did not rise at all from march to april, you still would have had 0.7% inflation. that goes away, i'm going to tell you in a second here beginning in july is when that starts to go and reverse the other way when the negative base effects roll out you start to get a positive thing in july and let me spin a scenario for you it means a pretty hot summer it means we'll have this discussion which, by the way, i love having, for several months to come but if you think about schools reopening in september, some of that capacity, like airlines and lumber mills being brought back online, unemployment benefits running out in september to bring people back to work, by the fall, we should begin to have both a more normalizing economy and hopefully prices normalizing by then transitory, i think i put september down as the end and upper limit of my tolerance for transitory. >> steve, thank you. you always have the answers.
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steve liesman. >> i'll try. thank you. >> going to feel like a long way though, steve, from now until september if the way the market gets whenever we get an inflation print. >> summer inflation and it's a hot summer >> liesman, thanks >> sorry, i thought he was gone. i think we're in the goldilocks as i mentioned before. it was shocking to me that we did not tech above the 1.74% in the 10 year walk while it felt like rome was burning in the equity market. i think we are in that sweet spot i think we're going to be okay i think the market will bounce the s&p bounced right off the 50 day right where it should. i think there's a lot of panic said it before, baby out with the bath water i think everyone is selling everything and then checking what they own at the end of the day.
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stick with your reflation trades stick with the economy reopening. this was a manmade event that we had. we shut down our own economy people will get back to work i think this is a lot of panic. >> we've got breaking news here on the colonial pipeline eamon javers has the latest. eamon? >> colonial pipeline saying it has begun the restart process on its pipeline that disrupted the gas supply up and down the east coast of the united states here's the statement from colonial at 5:10 p.m initiated the restart of pipeline operations at approximately 5 p.m. just about 20 minutes ago now. following the restart, it will take several days for the product delivery supply chain to return to normal some by colonial pipeline may experience or continue to experience intermittent service interruptions during the start-up period. colonial will move as much as is
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safely possible and continue to do so until markets return to normal that's the statement from colonial they are restarting right now. clearly, colonial feels confident to have gotten the technical problems behind them here we saw the reporting from the "washington post" earlier today that thfelt they did not need t pay the ransom because they had a technical solution to the situation that didn't require them getting the encryption keys from hackers and this may be the news biden was talking about a short time ago when he was predicting good news here over the last 24 hours. colonial saying it has already begun the restart process, though it might take several days for all of the supply issues to work themselves through the supply chain. >> thank you eamon javers coming up, breaking the selloff with the four most important charts in the market why they could be key to where we're headed next. calling all bargain hunters. deep discounts find out if any are worth a second look but first, the
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chairwoman does the unthinkable. karen ringing the register on one of her favorite parts of the market what she sold, why it got her attention today. "fast money" will be right back. ♪ i wish that i knew what i know now ♪ ♪ when i was younger ♪ you need a financial plan that fits the way you want to live in retirement. a plan that can help grow and protect your money. now or in the future. with an annuity in your plan to help cover essential expenses, you can live the retirement you want. the right financial professional can show you how. this is what an annuity can do. ♪ ♪ in business, it's never just another day.
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bank shares under pressure in the selloff one of the traders just did what we thought was the unthinkable karen, calling unthinkable because she trimmed her position in one of the big banks. so karen, walk us through what just sold today and why. >> a couple of reasons why overweight sort of in the space. so a few big reasons the relative valuation has jumped i think we have a chart. banks never traded multiples with the market but the relative valuation has been getting closer relatively more expensive. that's changed the second one, i think, we're going to see a decline in investment banking from what we saw in the last couple of quarters where the spac frenzy was like nothing we had seen that clearly has slowed. i think refinancing might slow
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the big money center banks will be slow and the third thing, an interesting article about credit card paydown people are paying down credit card balances at paces we haven't seen and this is a really good line of business for banks. and so if people pay those down, the growth there isn't giet quiet as good. it's been a really good one. 25 25.5%. for those reasons, i had to sell
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it and why not jpm it's a little cheaper and you know, jamie. >> you own bank of america what do you think of his reason? >> i'm blushing for jamie right now and karen's reasoning is much smarter than mine would be. yesterday, i trimmed a little bit of bank of america reopen. and much simpler i look at 45% relative outperformance bank of america to the s&p it's been an extraordinary run guy cutting my flowers and keeping my weeds i didn't think this was the case where i think people are going to look for stocks that they have profits in, but more
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importantly, i think if the market is going to become as broken as we think because inflation is the boogeyman, at some point, people have to be talking about credit issues and i think banks are going to be exp exposed. and relative outperformance that's been extraordinary that had me take a couple of chips off. >> what's curious over the last couple of days, the kre, the regional bank etf down 2.5% with the specter of rising rates. rates rising beyond where they are now and to me, that used to be the driver of the trade rates go up. banks go up. >> diminishing marginal returns and maybe that's where we're at in terms of yield curve. i'm not sure i'll say this quickly because of the bank of america thing. first of all, dead flowers,
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great stones song. grateful dead. not even in my top hundred bands, number one. number two, bank of america. when did we start doing this show january of 2007. this is the highest this bank of america has been since 2007. so great timing by karen and oh, by the way, they reported earnings on april 15th tangible, $21. effectively trading two times tangible which is nosebleed territory for bank of america. cheap for jpm for the reasons cited. good for karen and tim. coming up, a sale on the street big names well off 52 week highs and traders go bargain hunting the trade straight ahead and guy calling this the most important chart in the market. what does it mean and where are we headed from he?er break it down next when "fast money" returns er needed anyone.♪
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welcome back to "fast money. dow got dumped bitcoin got bludgeoned and precious metals. each of our traders has the one chart they're watching for a clue to let's go around the horn. tim, kick us off. >> i think it's apple. if you define the market by the s&p or the nasdaq, you know the waitings it's 6% almost s&p north of 10% for the nasdaq 100 and today apple closed at or just below the 200 day moving average. it hasn't closed below since may of 2019. and i think you can with the
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downdraft for covid. this is a company that just three weeks ago, a month ago gave you some of the best numbers they've ever put out $205 billion of cash in the balance sheet. super cycle. 26% services growth. we know the story. i don't need to get into it but this stock, not since may of 2019 also selling may month have you had this kind of a down move in the stock so that concerns me. it concerns me because i think it's also the psyche of the market and a lot of retail investors tied up into apple >> steve, what is your chart and why? >> it's got to be, we just spent 30 minutes talking about inflation. yields the 10 year yield going back to 1981 we haven't been in an up cycle for rates since 1981 if you look at the chart, you don't even have to be a technician it's been a series of dramatically lower highs and
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lower lows and i don't think that we have to worry about inflation running out of control and i think this is what the chairman looks at. this is what chair powell looks at he's not worried about it and we're not worried about it i don't think the market should be worried about it. obviously, if you're an overvalued tech stock or if you're something where you have no earnings, then you have to be worried. but if you are restarting the economy, put your money in value, don't worry about inflation spiking out of control because we haven't seen it for the last 40 years. >> all right karen, what's your chart >> so my chart is actually somewhat similar from steve's chart. my chart is the 5 year 5 year. this thanks for this chart what is the expectation five years from now about five year inflation forward?
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you can see where we were in the pandemic the fed told us and i think steve liesman was getting to this this was something that they really look at because it's sort of ignores the noise of the short-term and looks further out. where are they further out so similar to steve, i think we'll see inflation and i don't think it's going to go crazy and if you're a super high flier, that's probable matlematic. >> tell me if i'm reading this correctly. the 5 year forward expectation are at the highest levels they've been in the time span of that chart that seems like that would not be necessarily a good thing. >> right but think about this is with the economy restarting, right. and i know they're trying to ignore some of the short-term,
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but we've seen this in the past. the fed hasn't tightened in those except in 2018 when they did around here and ended up saying that was a mistake, they shouldn't have done it if you have the chart that shows the fed should tighten, i don't agree with that. >> what's your chart >> i'll buy something on the line i'm sure i'll do it on the amazon and it's interesting. two quarters ago, steve said you fade the move to the upside. he was spot on but this last quarter was a remarkable quarter by any metric you look at for amazon and i was convinced we'd take out the september second high carter said to the penny, we traded up therand failed you have a massive double top on amazon amazon it has not traded well at all
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welcome back to "fast money. inflation concerns on wall street off the 52 week highs. we thought it might be a good time to do bargain hunting let's kick things off with qualcomm it is more than 25% off its 52 week high. trade it >> trade it. this is holding support back to october. 2020 we know what the head winds are. apple going away from them making their own chips we've known this for years i shouldn't be spooked the market shouldn't be spooked from this internet of things on
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a mode of demand the market will and has started to digest this it's held support, i think we're going to be okay here. trade it >> karen, your take? >> well, i'm fading the whole space but the semiconductor, i mean, just annihilated if i had to pick one, it might be qualcomm. good earnings, i think it was april 28 15% or more. so unless you held a gun to my head which is a different game entirely >> let's move on to salesforce down more than 25% 26% from its high. so tim, trade or fade crm? >> a reluctant trader on this one. i understand where software stocks have been and we all talked about this at some point tonight or recently about high multiple stocks don't make
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money. this is a higher multiple stock but obviously, significantly off the highs. one of the things i love, they made a ton of acquisitions with a very expensive stock with the currency i think the integration dynamics around crm are best in class and i think they have the kind of scale to go through a down draft in terms of the broader market their business is booming. >> guy, your move. >> fade it came right out and said it i want to know why we don't have more kids, trade it. >> we need a market sell-off maybe even in turmoil right now. we got to play it straight, yeah, exactly, right >> the stock topped out last august a series of lower lows and lower highs. valuation all of a sudden is a concern and by the way, people catch up in the space. not least of which has been
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oracle i think you fade it into earnings on may 27th, i believe. >> let's move on to social stock. twitter. that stock down more than 4% today. off by 37% from the 52 week highs. trade it or fade it? >> i would fade it >> very, very succinct the interesting thing, kathy went in here with twitter down and so did elliott kind of different constituents >> well, for fundamental reasons, i care more about elliot's role. this is a stock that took the elevator up and took the elevator down to use these terms we sometimes use, but the stock was a rocket both out of two earnings quarters ago and also investor day when we talked about new products and doubling revenue. the ad space for all of the social media, i think has a tremendous tailwind. twitter is making moves.
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after the sell-off, it's been ugly, ugly but this is a stock, i think, with enormous value and got a lot of scars on it over the last month and a half to show for it. >> let's wrap it up here with 10 national that is down a whopping 46% from the 62 week high trade it or fade it? >> trade it but i would have said this 15% or 20% ago i'm surprised how poorly it's traded when the announcement came out, i thought penn would do really well and for a day or so, traded since but this tailwind is not going away listen, the stock has been awful, but i think you've got to step in and trade it here. >> your take on penn >> i'm going to say fade it. i'll take the other side below the 200 day moving average since back in may 2020 basically. this is the bull's eye for what the market is shedding right now. high multiple stocks high growth stocks this is one, i think >> still ahead
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we've got your set-up for tomorrow disney on deck with earnings betting might not be happily ever after for this stock. buy/sell list as we gear up for tomorrow's open. the key names we're watching back in two. ♪ it feels so good to be cared for. ♪ ♪ back up now, ♪ ♪ just a little more. ♪ ♪ the feeling someone's always there, ♪ ♪ just to show how much they care. ♪ ♪ the feeling you're not alone, ♪ ♪ now she's a part of your home. ♪ ♪ with so much to protect each day, ♪ ♪ caring goes a long, long way. ♪ ♪ nationwide is on your side. ♪♪
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welcome back to "fast money. disney falling 2% as the company gears up for earnings tomorrow let's bring in mike with the options ahead of the big report. what did you see >> yeah, so taking a look at disney after today 1.5. might normally see bullish but that has averaged more than 2-1. less bullish there and right now, the move to 4.5%. the stock averaged over the last eight quarters interestingly, the most active options were actually the june 180. 7,000 of those traded with $7.10. the stock was trading throughout the day. paying closer to $8.60 and the stock is going to fall after earnings fall 3.5 or 4% >> the forward, what is the
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bigger focus on this call for you? the streaming side of the business obviously, the high growth or sort of the reopen side of the business parks, et cetera? >> i think the streaming side of the business gives more support to the stock and there's a lot to talk about. they're going to talk about 14 to 16 billion in content spent between now and 2020 with probably 10 billion of that going to disney plus possibly where they can be folding and 100% ownership of that asset a big part and i think they'll focus on their content content is king. i think they overshot to the downside on arparks. that's been the driver for the stocks valuation >> what do you mean the valuation in this environment? >> the reopen trade.
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streaming traded down. i think the parks trade will have gone berserk. the streaming part traded down is it a bargain? i don't know but i mean, it is a premier name for sure it's not crazy valuations. it's not with rates going up and going down it's not a crazy valuation here. >> mike, thank you for that. for more options, be sure to tune in to the full show 5:30 p.m. eastern time after today's sea of red, what's in store for thursday. the traders tell us how they're setting up for one othwot f e rs market sessions in months. stay tuned ♪
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gotta respect his determination. it's easy and affordable to get started. get self protection for $10 a month. sit down with the ceo of norton life lock to have of the hour on mad money. it was a red day on wall street. all three major indices and
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dropping nearly 700 points its worst day since january. following big sell-off like today. what are you looking for tomorrow what's on your watch list? >> obviously, the resource trade. when the market goes down like this, 75% of the stocks go with it well, today, the resource trade gave it up big morning. the upside gave it all back in the afternoon. i'm watching names see if they get off tomorrow to continue their moves higher. >> is this a buying opportunity, tim? >> i think so. and again, mine would be somewhat similar, i would look at industrial companies with strong valuations and have trade tail winds you know i'd be talking about auto companies and if those are not rallying and getting thrown out, it's a broader risk so right to be sniffing out trades that should work with today's inflation numbers. if they're not, maybe they've had big runs and maybe it's time
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to take something off. i'm not going to do that tomorrow >> steve, what are you watching to tell you that the market trend is still higher, and that the trade you're in are still good buys or maybe there's indicators that will tell you it's time to throw in the towel, so to speak or trim some risk? >> i look at that 50 day moving average. we test it today at 3:54 i think you'll see it selling and back into the names we talked about earlier on the show with industrials, the financials the energy switch into that s&p cash. >> what are you watching
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>> i would be a seller, hard to do but would be a seller i was a buyer on the close today of facebook and google yesterday, this buying opportunity, i think it is it could be a much better buying opportunity tomorrow that certainly could happen. down the road i would be happy owning but up big tomorrow, make some money but i wouldn't be able to add things down the road >> facebook. >> steve's chart before was a 10 year yield in terms of levels for tomorrow, we're really close to 174 which was that level in march that caused a lot of problems for the markets. does that have more significance this time around breaking that level or going to that level >> yeah, i think it does
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steve is right to point it out if you play the home game and use that as the metric, absolutely by the way, i'm with steve i thought we should have taken it out with the numbers but the lag effect and maybe you saw some sort of absurd in the form of bonds that kept them from going through 175. that said, if you look for a call for bonds, i think you look in the wrong place like the garth brooks song. >> i was just thinking that. no, i wasn't coming up, final trades.
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time for the final trade let's go around the horn tim see smor. >> we know the impact. the fundamentals are great otherwise. that's the name i want to buy. >> pete grasso >> going higher. >> karen >> yeah, going home with the girl that brought me
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google >> guy dami? >> stud. 52 week high with the whisper of the january 2020 all-time high higher from here >> and we know he's watching terry. thank you so much for watching "fast. "mad money" with jim cramer starts right 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. welcome to cramerica other people want to make friends, i'm trying to keep you from losing a lot of money my job is to educate and put in context so-call me 1-800-743-cnbc or tweet me

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