tim seymour is our bull. josh brown is our bear. tim, kick it off. >> we were at these extreme levels last month. ultimately 12 was where gold had to hold. it did. extreme bearishness and fear are not places where you feared but saw these as great places to buy. if you look at where they were in march of 09, that tells you what you need to know. ultimately where it gets back to fundamentals, this is a technical call and i believe investors are down on this. central banks are buying gold at 2% a year cliff. cpi was not the headline but at some point we have to face this genie. when i look at where gold p demand is i look at supply. all we hear about is supply being taken off line. ultimately this leads to a supply squeeze on gold in about 12 months. >> i really only need like ten seconds. this is a downtrend. this is a commodity bust cycle. they take months, quarters and years to work out, not weeks. it's really just getting under way, unfortunately. there will be short term bounces, oversold rallies. this is when you have to sell po

tim seymour. >> buy the eem, going to 40. take your profits. >> i like vgk, we're adding to it. >> brian kelly? >> a name i haven't trafficked in a while, grlg. >> guy? >> this is not going to end at 15. this seems to be wanting to go higher. but i think lumber liquidators, ll looks interesting. welcome back, mel, good to have you back. >> good to be back. and trading as high as 16.77 here in the after hours. i'll see you on monday "options action" begins after this break. know can hurt you. what if you didn't know that it's smart to replace washing-machine hoses every five years? what if you didn't know that you might need extra coverage for more expensive items? and what if you didn't know that teen drivers are four times more likely to get into an accident? 'sup the more you know, the better you can plan for what's ahead. talk to farmers and get smarter about your insurance. ♪ we are farmers bum - pa - dum bum - bum - bum -bum ♪ [ male announcer ] here at optionsxpress, our clients really seem to appreciate our powerfu

guy adami, tim seymour, michael khouw khouw. let's get to the bernanke bull market and this record breaking day. the dow and s&p closing at all time highs, its highest level since september of 2000. the dollar posting it's biggest drop throw in four years. tech staples, materials and gold yes gold getting a major boost, gold is up 100 bucks off its low. reassuring investors not to fear a tapering perhaps of the fed's easy money policy although i've got some questions about that. our big question tonight is this, very simple are you buying the bernanke bounce and what is the best way to play the latest fed headlines if you are. it has certainly been hard to keep buying their record highs but let's talk about it guys. i was on the record yesterday on street signs, a fine program and i said the fed is irrelevant. everybody was like you're going to pull back. you're wrong. the bond market didn't move today. >> i'll throw that right back. if you had said the said is not credible right now i would have said there you go. what happened

our traders tonight, guy adami, tim seymour, brian kelly, karen finerman and mike khouw. let's get to the big story. hot stocks of july. some big names were a cut above the rest. we're breaking down the reasons for why it could continue for tesla, trip visor apple netflix as we enter the month of august. guy adami. >> tesla, we said as long as it held the secondary the stock would be okay. i think the secondary was 92.5 93. it was okay. it bounced. a couple weeks ago i was convinced it reversed and was headed lower. i was 100 wrong. ten days later anthony deutsch comes out with their note and the stock is off to the races. at these current levels although i was wrong a couple weeks ago i still think you have to look to sell this thing ahead of earnings on the 7th. the last quarter was a blowout quarter. i'm hard pressed to believe they can do the same thing twice, especially given the stock that the stock is 40 $55$50 history. >> bmv revealed it's new car and to quote dr. j. it's a hot car. >> hot is relative to dr.'s standards. >> would you be taking profits ahead of the

guy adami, tim seymour, michael kho khouw.

traders guy adami, tim seymour, karen finerman anthony scaramucci and mike khouw. apple, broad bond akamai. we're taking position ahead of google's secret product event tomorrow. our tech story is apple on the rise up almost five percent. earnings and revenue topping. the real story here iphone shipment of much better than expected, 31.2 million phones shipped in the quarter. guy? >> that's the key. you nailed it. we talked about it on june 28. we said you have a nice definable bottom. i don't think it would trade that low today. i thought the move we would going to see, what happened we talked about it last night. you want to split hairs, average selling prices of all four major devices were lower but gross margins were better. i think this quarter was good enough. again, i think people will look $146 billion or so in cash 36% of their market cap. that will come back into play. again, using that june low as your bottom it's okay here. >> i agree with guy. he was right on that iphones were the thing that was making -- it was sort of a relief value. the iphone numbe

guy adami, josh brown, and tim seymour. more details on developing story out of boeing tonight. phil lebeau has got the latest on the story. phil? >> reporter: melissa, right now investigators are looking at that dreamliner trying to determine the origin of the fire

traders guy adami, tim seymour, karen finerman, anthony scaramucci and mike khouw. apple, broad bond, akamai. we're taking position ahead of google's secret product event tomorrow. our tech story is apple on the

our traders tonight, guy adami, tim seymour, brian kelly, karen finerman and mike khouw. let's get to the big story. hot stocks of july. some big names were a cut above the rest. we're breaking down the reasons for why it could continue for tesla, trip visor apple netflix as we enter the