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tv   Fast Money  CNBC  September 25, 2017 5:00pm-6:00pm EDT

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just the bumper intro you had playing the eminem intro -- >> you're welcome. >> the more the better. >> matt, we have a zillion more questions. please come back. >> i'd love to. >> thank you very much for coming in. i love eminem. it takes me back. >> high school. >> that was like the latest thing. different time line. >> very different. that does it for clo"closing be. "fast money" begins right now. >> "fast money" starts right now. live from the nasdaq market site i'm melissa lee. traders on the desk are tim see more, guy adami. tonight on fast, don't call it a comeback oil soaring above 50 bucks a barrel if you're attempting to buy stocks, commodities king dennis hartman says there is a better stock to own. plus, drama in the end zone. could protests and donald trump tweets make nfl ratings go from
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bad to worse we've got a special report the tech wreck is worse. the chart master who called the selloff says here's one group of stocks you should be buying to cash in and that is where we start this evening tech, the worst performing sector today now down 2% for the month of september. check out the broad selloff across the market from apple to fang stocks and vees and alibaba under pressure facebook, in fact, having its worst day of the year. is this about tech valuations, guy? >> i think it is the s&p closed down 5.5 handles the market doesn't care yet. i'm not saying we're saying sell facebook but we mentioned a few names specifically for example, if tesla would fail at 386, potential for huge double top i mentioned tesla. i happen to think it's a huge
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technology company micron is another name if it fails at the 36.5 level from the end of 2014-'15, trouble ahead. look what that's done. i think apple is 134.55. if it gets back down to the $30 level which it consolidated at. >> dan. >> the real trouble for the broad market, it's a smidge lower than the all time high we have two of the biggest names in the nasdaq that make up 50% of the weight have done serious damage over the last month or so amazon down 13%, facebook down 7% and google is down about 7 or 8% all of a sudden you see the opposite side of that rotation into cheaper sectors
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with so little damage done to the s&p. if the big tech keeps going, then you have a problem. i put a spy short on it for the first time in months sell this, sell that or whatever >> what is that? >> i think you're going to see people come out. if the cap tech comes down, you'll see people coming out of the banks. >> how much do you think triple qs can do? where would you be targeting it? >> i think they're up 5 or 6%. the nasdaq is up 18% the composite is up 11%. i think this is pretty healthy action i think you want to see some of the most widely held names sold off. no fear. the complacency has been one of my biggest issues. >> we didn't see much action in the banks. are you starting to get worried so perhaps the damage will spread >> i think they've got a little bit ahead of them sentences selves going into the fed meeting. so it took a little bit of money
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selling some citi bank calls, but i am definitely still long bank i'm a little bit concerned although the tech selloff, we've seen in the tech selloff time and time again and every time buying into the tech selloff has been the right thing to do could this be the wrong one, the last one maybe. but i am not -- i am much closer to being a buyer of more alphabet than -- apple actually i have known for a while that might be looking interesting. down close to 10%ish from just before they released that's sort of interesting to me do you think the tech selloff needs the s&p more or the other way around >> you talk about google, it's been in a consolidation for five months apple has been range bound for all intents and purposes between 140 and 160. if you have people that are going to get fearful of the reasons why we sold off today, i think there's a whole heck of a
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lot of them, the s&p barely sold off. >> i agree with dan. how much is very i don't know there's been some key levels 143 on apple, you break that that starts to give people a sense. these are not small steps. in some cases they're big steps. today you had emerging markets down em has been very resilient one thing to think about this impacts tech, too, the dollar to me in the same way i think people got way too bullish on the dollar, i think they've gotten too bearish the german elections show that it's put in a floor. we outperformed the euro today the strong dollar could start to create more rotation perversely it might help energy. the things that are happening today feel like big rotation going through sectors. some of these are paying trades above 56 on brent to me is very painful for a lot of people in the space, and i do mean from
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the short side a lot of people said i can missimiss energy and be all right. it's clear that they are nervous. >> i get the strong dollar is a head wind to technology. isn't that a head wind also for oil? >> first of all, the oil really responds when the dollar is getting its butt kicked? i don't think it did oil is trading on applied fundamentals we'll talk about energy with dennis i think energy can stay solid. >> on fed day last week during our show we mentioned how the tlp should have been weaker than it was for watching next day's action watch what's happened over tlc it's actually traded rather well why do i mention it? because we talk about how the yield curve continues to flatten out. xlu should have gotten obliterated that day now that seemingly recovered
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on the good note, xlt, the staples etf, look where it held the july low at 54 xlp against 54. >> she said that every selloff in tech is a buy, but it hasn't. if you look at the way -- >> every selloff -- >> no doubt about it you asked, where would you think the market would go? the s&p 500 broke out at 2400 months ago if it were to come down 4% to that level a lot of technicians would say that's a pretty good level of support some of the big jegest leaders t support will be down in correction carry about 10% that would be the level i think if you want to own your google, if you want to own the apple, reload on facebook and those things. >> why is this time different in your view? >> because i think what really spooked the market today, a combination of fundamental things i think what came at facebook today is something that's been brewing all year long.
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it's been brewing since late november i think the stock was just for whatever reason ignored it, okay >> what are you -- >> this is happening this is on, zuck is in the hot seat. >> since november? >> since late november the story in "the washington post" was that obama was in lima peru in late november two weeks after the election and said, you've got a real problem on your hands with this fake news they denied, denied, denied. that's why the stock was down 4.5% today. >> the bottom line with facebook is what you said the valuation has been priced to perfecti perfection you can't tell me a stock languishing here until the last couple of days, today's pull back -- alibaba is down 5%, so is facebook. big deal are you saying alibaba has the same issues? you're singling out issues for facebook when this is rotation. >> i'm saying now is the opportunity where they say now is the time. it trades at pe to growth of 1
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use that excuse. i'm not sitting here for months saying valuation, valuation. they're going to say it after the fact then they're going to list all of the fundamental reasons carter is going to tell you that everyone of those megacap ones broken up trend lines in place since november now throw out a technical one. >> all i'm telling you is you can find a reason for any stock that sold off 4% today most of them had no reason i would choose to say that the facebook issue -- the facebook fake news, whatever you want to call this is something that's been in the price -- >> google has been pricing this in for months because the stock can't get out of its own way amazon has a fundamental issue you know where it topped out investors are worried that they're going to keep spending and buying bricks and mortar retail, okay the spend is going to go up. apple, what are they concerned about? they didn't sell a whole heck of a lot of things. then you take the back drop of a pretty crappy technical setup then you take the back drop of sentiment that is still over the moon, everybody wants to buy the
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dip. so you kind going and i say, yeah -- >> you're making statements that all make sense to me but you're on both sides of the argument. you're saying there's fundamental reasons and either way they're getting sold i'm telling you, a day like today i would not get that freaked out over the rotation even though more is coming. >> that's why it's short >> all freaked out >> let's bring in the afore mentioned carter and see what he has to say about technology because, in fact, he called for a big tech selloff just last week >> here is the long term trend line so were we simply to get back to the long term trend line of the last five years which we have done several times, that's a good healthy 10, 12% from here there's err every prospect that that can happen. >> the chart master is back with what he says is the next best place to put your dollar carter, what do you say? >> well, i mean, it was a bit
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aggressive the question is, is it over? probably not whether it's news related or not, it's worse if there's no news if there's news you can point to something. perhaps it's people selling it 3 trillion is the bottom 250 here are the names if we were to chart them as one stock, one security, this is their one-year chart so $3 trillion, five names, plot of equal weight and if you were to simply put in the trend line, this trend line, i didn't manipulate it or somehow make it make my story. it literally, this aggregate, has responded to this trend line perfectly and for the first time in a year, of course, it is broken and typically breaks are not short lived. if you persist for a long time, a break will carry for a certain way. i think there's more to go in any event, let's talk about
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maybe what one could do. clearly this is rotation people taking money out of some of these high flyers obviously it's gone into beta, gone into risk which is cyclical names, energy, financials, so forth. one area to be considered of course is market capitalization. this is the chart of the russell 2000 from the depths of 1990 now we know of course that small cap over time outperforms large. what really out performs, let's add another line, is midcap. midcap in blue and there's a reason for that if you think about it a lot of small stocks never make it still born they just don't make it. big stocks are well observed, picked over by hundreds of analysts and large asset managers, but midcaps have both the benefit of the still borns are out of the way, the things that have never made it have survived and, two, a lot of small cap stocks miniatures can't buy.
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so once you are in the midcap it becomes a self-fulfilling phenomenon this chart speaks to that phenomenon midcap blows away small cap which outperfect forms the s&p this is the mdy and i think you can draw the lines like this i think the presumption is that whereas the s&p broke out to new highs quite some time ago, this has been range bound and i think you have a pretty good shot of making a new high. so both absolute performance, relative performance to the s&p which is so burdened now by some of these super cap names which are under very aggressive selling pressure. >> i think carter comes over. >> obviously not think, i know. so within midcap, what sectors are the best >> well, what's interesting. let's take one cyclical. if you look at s&p 500
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industrials, they are still -- despite the recent strengths, still below where they were relative market 2013, '14. s&p midcap industrials are making new highs it's a testament to certain areas of the market whether it's capitalization or themes health care is another one both good. >> so clarify something you said you would rather that there is a reason for something to sell off? >> sure. >> and why is that >> let's talk about that it's a pretty important concept. if a stock goes down today 3% and i went and looked for the news, it was written up. we can point to something. got a downgrade by a journal list not to be pejorative analyst writing about it but if there's no news and it's down 6%, what does that mean somebody knows something maybe a big, big player, maybe you. the point is, we're looking for selling pressure without news. that's the worst of all because someone has done it which means they know something that others don't know that's the worst thing of all. >> does that make you more concerned about today's tech
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selloff? would you back dan's call that the tech selloff is a start of an s&p breakdown of some sort? >> i think people always want to seize on something, but it's really independent of that there's not -- it's not so much the why as it is the what. what we know is there was a really aggressive selling and it's not just today, it's been going on for weeks and today it gathered some urgency and so some -- it was dedicated selling. >> would you put on an s&p short? >> sure. i'm going with dan into sundays, but something is changing here here's the thing you can get a cyclical rally which is risk abrasive they're not big enough to soak up forget the top 5, what if i do the top 25 it's not new money coming into the market it's rearranging the chairs. if you really get aggressive selling, especially after energy has gone up 10% off the bottom, is energy going up 10, 20%.
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>> if the breadth is five names will concern us? >> sure. >> the argument that many strategists have said is this is a breadth market. >> right >> that's great news, no >> okay. so yes if it's enduring. developmental action takes time versus the energy move is impetuous. not developmental. >> i would argue no. i've stuck here a long time. >> we've got to go carter, thank you. we're going to talk about energy later. >> carter, all time high ibb continues to trade well. i think that's the story you know i love carter. >> top 12. >> i'm saying this until the russell breaks out, iwm, i think that made an all time high today. >> yes. >> and the transports within a whisper of, then that's to me going to be the -- >> so you're reiterating his midcap call. >> it's the same thing
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>> i just want to make one point, okay? i just want to make one point. i don't like to press shorts i haven't been short in the s&p. when i looked at my screens and saw the damage being done in high valuation, megacap and i looked at the s&p 500 down 20 biffs, that's not a press, this is a great opportunity you'll have the s&p over the next month down 2400. >> with you every day plus sunday. >> and friday at 5:30. >> let's go to break. >> "options action." we'll tell you what about its deal with t-mobile that has shareholders running scared. energy stocks coming back with a vengeance the commodities and guy will be here with his fast pitch stepping up to the plate to spich one der unthe radar name he says is about to break out. much more "fast money" right after this and make sure everything's clear. yeah, that would be great. being proactive... it's how edward jones makes sense of investing.
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for a long time. they've been talking about it for a long time. that's part of the problem remember when buffet was going to take the spread, wasn't going to be the premium. what david said in his report is this is a thing about survival i had a power pitch. i think when at&t was 36 it had a lot to do with consolidation the thing has gone straight up to 39. you let this one go at some point. at some point, yeah, the news will be in it about the time warner deal. i don't know i think it was a little too far too fast on the way back. >> fast tip? >> i did. >> power pitch. >> "power lunch." >> power pitch, brother. >> i've never been invited to "power lunch." >> sit on this side of the desk. >> what will we do with t-mobile, sprint, verizon? >> incorrectly i thought sprint given the short interest, given the news a week or so ago would accelerate, go higher. 8% lower, i was clearly incorrect. you look at sprint now that's a chart over the last, i don't know, seven, eight months.
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has made a series of lower lows and lower highs. doesn't look good. t-mobile very expensive. they have the mojo now i'm not sure clearly i was wrong to think sprint would go higher clearly now the down side feels vulnerable. >> you buy at&t. if you want the valuation that makes sense with the guys that are going to get this deal with the content, trades at a discount for the parts t-mobile we know has been the leader on the post trade ads some of those numbers are getting pushed out a lot of good news in there. >> i don't think you need to get involved here. we said before, with so many players involved, so many bankers, so many lawyers, so many everything, the price range is probably sort of out there and known and not a chance for a huge boon. >> stock's tripled look at sprint it's gone through the roof >> not in the last few months though. >> over the last year and a half i mean, you've priced this thing in >> yes agreed we agree. still ahead, nike gearing up for earnings tomorrow. traders are expecting something unusual when the shoe giant
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reports. we'll tell you what that is. i'm melissa lee. you're watching "fast money. in the meantime, here's what else is coming up on "fast." we heal as a team. we're going to crumble. >> pretty much sums up the nfl's current predicament amid widespread protests and slumping ratings. it could sack a number of media stocks we'll explain. plus, pete told you to buying boeing back in january. >> i think boeing guys higher from here. >> now guy adami has a better pitch. he'll tell you what that is when "fast money" returns
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welcome back to "fast money. we're live at the nasdaq market site
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the nasdaq calling 1%. energy was the biggest leader while tech is the biggest laggard. sunday's nfl games captivating america this weekend, but not for the action on the field we'll tell you what the player's beef with president trump could mean for the league's struggling league guy's got a hot hand knocking pitch after pitch out of the park can he do it again stuck in the mud this year we'll find out when he delivers his "fast tip. but first energy is up and bob pisani is at the nyse. hi, bob. >> hello, melissa. look, here's the story this time oil supply tightening, good news opec compliance for production levels has increased good news. the shield guys have increased activity but not as much as some feared, that's good news demand numbers have been steadily on the rise that is the best news. the result a big oil rally we have anadarko, marathon,
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apache, hess even chevron and exxon are up high double digits so refiners elsewhere like hollyfrontier, valero,phillips 66, new highs. remember whenenergy saw the rally after the election big name energy rallied 10% until the first weeks of december, far better than the 5% rally in the s&p 500 but oil stocks dropped steadily and they accelerated when oil dropped below 50 bucks in march. this is the least -- at least the fourth time we've seen an oil stock rally, but it's the biggest one of the year. the xle is up 10% in a little more than a month. so is this the rally that will stick? it's not clear the bulls are claiming it's the rally based on fundamentals. it's about as bad as you could ask for.
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there is very little money in the sector right now in my opinion, that's a plus so the energy sector right now in the s&p 500 is 7% it hasn't been that low in more than a decade. very little interest once again the analysts are saying you have some fundamental improvement, a lot of cheap stocks sitting around here anybody interested back to you, melissa. >> bob pa san pisani at the ny. tim, trade or fade you're in the camp of trading. >> i think there's been a couple -- we talked a little bit about positioning. certainly bob got there in terms of where sentiment is. things like halliburton are well positioned age well over done you can trade and invest in the names. i traded out of the xle today back to the 200. the last time i traded through the 200 to the up side was march of 2016. i stay long halliburton and
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anadarko. >> we talk about this in the middle to the end of august. as crude oil was going lower back then if you recall, exxon 76, 76, 76, held, held, held, held, held one day it magically rallied. >> did you say magic >> magically like unicorns and rainbows magic. >> i lost my train of thought. i'm getting old now. we said today for the first time in almost seven or eight months exxon looks interesting. here's exxon at $81. exxon is in a three-year down trend but it could still trade up to $87 to the up side and remain in that down trend. i played it to play your game. >> for more on energy's big comeback we'll bring you none other than dennis garthman good to see you. >> good to be seen. >> i was taking a look at the chart of brent and was amazed it's up 12 boin point.5%. >> without getting too esoteric
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and too wonky, you've taken the brent futures. you've narrowed the contango markets that have gone to backwardation are telling you that that commodity has gotten extraordinarily strong it used to be that crude had to bid to go into storage now they're bidding it out of storage. that's a major change in the makeup of the commodity markets themselves going is going on more fundamentally driven the term structures have shifted dramatically demand is picking up and supply is being diminished. this is a change. >> i think it was a few months ago you've come on "fast" and cnbc and you've talked about this secular change in oil demand. >> yes. >> do you still think that this is just an uptick within that broader change or have you reversed on that >> i -- if you would have asked
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me a month and a half ago, i would have been bearish of crude oil thinking it was going to be very difficult for wti to get through $5 i think it's going to be very easy to get wti through $55. the term structure is yelling at me, screaming at me telling me something is happening here. crude futures traders are very bright folk. so for the first time in a very long time i think this is sustainable. this is not an impetuous rally this is a fundamentally driven rally. something has changed dramatically in that market. no question. >> so what are the kinds of equities you would want to be invested in. >> there are so many enp cheap stocks that refuse to make new lows i think guy was talking about the fact that many stocks tried to go to new lows even when the crude oil market was making new lows they refused to make new lows. they've held they've gone sideways. now they're breaking down trend lines. they're moving up to 2050, 100 day averages you can tell something internally has changed to buy the enps, there's a lot
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of single digit enps that have gone from 25, 30, 40, $50 down to 5, 6, 7, $8 you look at a lot of them as long term plays, long-term options on the crude oil itself. >> you talk about demand, something shifted. >> yes. >> you think it's demand when do you think you'll see that supply that can be relatively quick to the market >> the one problem that you have in the crude oil markets that can keep you from being too terribly bullish is there are a lot of ducks in a row. there are a lot of drilled but uncompleted wells out there. if you get to $55 wti a lot of those ducks will be turned on. then you'll have an interesting circumstance if the crude futures continue to move to a lesser contango to a wider backwardation in brent, watch what happens when wti gets to 55. at 55 every permeation will be
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bringing those ducks, getting them in a row and producing crude. if you get through 55 the game has truly changed. >> dennis, thanks for visiting us. >> thanks for allowing me to be here. >> dennis garthman, commodities king. >> i didn't get to play your game. >> which game? >> trade, buy. >> play it right now. >> so if you don't get through his 55, then i think you want to save it. when you look at the xle chart, we know that about 45% of that is chevron, exxon and flumberge. the stocks are cheap, they pay on dividends that supply is coming. the xle sold off, what, 20% from the december high to july lows it broke the very well-defined down trend the whole time. you know what it did, it failed and it made a new low. we have the situation where it's up 10% if oil doesn't get going then you sell it. >> i have traded the xle i keep a long bias and very constructive bias. we had a golden cross in brent
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we have an opec meeting coming up next month. elgts' been the one that drops the bottom out of oil. guys are scared to be short of this one i look at the curtis referendum and rig counts these are all positive look, people are still so bearish on oil you stay positive. it's that worry and the fundamentals are more than evening up. >> karen, have you changed your mind on oil at all >> not really. not a lot of people. i don't have a lot of exposure in this space. mostly leverage it it isn't an oil play trades are up 1 or 2% for no particular reason. no, i don't. >> yeah. >> but overall, guy, impetuous move >> i dmoent how to spell impetuous. >> it doesn't matter you know what it means. >> i do. >> of course you do. >> my kids have been impetuous for 16 years so what's the point? it can last a lot longer i do think it's a down trend why are you making faces did i do something to offend you
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tonight? >> you're amusing. >> my point is i think -- tim's point as well, i think this can last longer than people think. coming up, nike getting left in the dust. the other sneaker stocks soar. they'll tell you whether to buy it or sell it into earnings tomorrow plus, guy has been on fire with his fast pitches this year he's back with another name he thinks could be a gold mine for investors. find out what it is when he delivers his fast pitch. more "fast money" after this today, a focus on innovation is helping new york's southern tier soar. starting with advanced manufacturing that brings big ideas to life. and cutting-edge transportation development
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welcome back to "fast money. remember when football fans only worried about the home team winning by more than 3 1/2 more points it's gotten more complex so, too, has the ratings picture for america's most popular sport. julia boorstin is joining us. >> more players took a knee and linked arms in solidarity after president trump's twitter tirade against the nfl. he tweeted, quote, if nfl fans refuse to go to games until players stop disrespecting our flag and country, you will see a change take place fast fire or suspend. now some nfl games yesterday may actually have gotten a boost from the president's attacks on the nfl. cbs coverage of seven games yesterday was up 4% on average
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from last year while sunday night's game on nbc was down 10% from a year earlier. now so far big brands are standing by the league and its players. ford, nike, hyundai, fedex, anheuser-busch sth they're issuing statements the ceo of president trump's favorite platform weighed in when the president tweeted great solidarity for our national anthem and for our country standing is good, kneeling is not acceptable, jack dorsey treated in response, this isn't about ratings. he's also tweeted a "sports illustrated" article calling on president trump titled, quote, don't divide us, and other tweets with similar sentiments melissa? >> do you get the sense within twitter that it's sort of president trump has really made the platform so relevant to so
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many more people these days who might not otherwise check twitter but at the same time it's creating a divisive community which they're trying to fight in terms of bullying. >> yes i think dorsey has made an anti-bullying campaign as his role of ceo but i also think that they try to stay away from this assertion that president trump has made the twitter platform if you look at the fact that twitter has not grown significantly since he sort of rose in his political campaign and became president, it's hard to argue that he's really driving that much growth for twitter. certainly very high awareness, but, you know, it's hard to say. i think it's interesting that dorsey really weighed in against him here >> let me ask you for the big advertisers that you had up there and they support the league, what's their deal in terms of what audiences guaranteed for them for the ads that they bought how long does that last? do they get back anything if the audience doesn't show up >> you're referring to make
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goods. the idea if you pay for a bigger audience than you're going to get -- >> and renegotiating. >> ad week interviewed copp, another ad agency, michael ross from ipg, both of them said, first of all, they stand with their advertisers. no one's pulling back ads from the nfl at all because the nfl even with its ratings decline is still the biggest audience on television and they've both said, you know, it's still early days. we'll see how it shakes out throughout the season. no one is placing judgment with what's going to happen with nfl ratings. the nfl has made changes that were in the works for a while having fewer ad breaks, shortening halftime and overtime there's some hope that will drive engagement. >> it almost seems like there's no way to separate them, what
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accounts for that versus last year for the sunday game, what it was that caused that tick higher. >> well, i think a lot of it is the match-up thursday night game, that was up 38% from a year ago. so we're only looking at three weeks worth of data so far, so it's still really, really too hard to tell. >> julia, great to see you. >> great to be here. >> julia boorstin. >> great having j.b. in the house. listen, i understand what happened this weekend. i get it a lot of what's happened in the nfl has happened the last year or two years a lot of it is self-inflicted. people don't know what a catch is, a catch isn't. every play is seemingly now reviewed with that said, how do you play it what is the right multiple for the walt disney company? i continue to submit that it deserves one, not what it gets it gets you $91 stock. still ahead, sneaker stocks
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kicking into high gear after a slew of analysts upgrade we'll tell you which ones could go higher. from sneaks to cleats, guy is pitching one stock that he calls a home run for investors will other investors agree find out when "fast money" returns.
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welcome back to "fast money. time for new instant replay segment where we take a look back at past pitches earlier this year guy said boeing was going to take off >> if you look at the stock, it's spent all of 2014 and '15 going sides ways, in my opinion building a base. here in a new administration, in a brave new world and i think boeing wins to everything that happens. i think boeing goes higher from here. >> it was a home run call. boeing shares are up more than 50% since then. >> nice. >> it is the best performing stock this year. you guys, what do you do now >> blind squirrel. >> huh huh? >> i continue to think despite its parabolic move over the last three or four months, i still think you stay with boeing i think you stay with the entire space. >> this would not be an atm space being up more than 50%
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>> i think the tail winds, no pun intended for boeing, when they debate, i'll see that. >> since you have the hot hand, mr. guy adami, let's see if you can do it again. give us your latest fast pitch. >> we live in a crazy world. we have rocket man, i'm allowed to say that because the president says it. he's now seemingly wanting to do something crazy. what does it mean? crazy geopolitical risk. i get it, we've seen that before what does it lead to, tim? i know you know the answer it leads to gold don't make faces i get we've seen this before, but american barack is very quietly reduced their debt level. by the end of the year it will be $6.5 billion in debt they're operating more efficiently. they've sold some of their smaller mines off and they're focusing on their five largest mines. valuation is ridiculous. i get it it is expensive
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many gold companies continue to be rather leveraged. i think gold goes higher i think americanbarrick is going to produce anywhere from 5.5 to 5.8 million ounces of gold this year oh, by the way, they're probably going to produce 400, 450 million ounces of copper for all of those reasons, for everything going on in this world we live in, i think abx gets you done. >> does anybody have a question for guy adami? >> i do. we've had the perfect storm in global politics between brexit, trump, you name it and certainly rocket man gold's done nothing. why should it take off now >> i agree, tim. i said this might be the last hooray i might be play be in the deep end of the pool. i think the world has seemingly changed just a tad and i think it lends itself in the short term at least, short term being from here to probably thanksgiving for gold to continue to rally. gold has actually held in rather
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well it hasn't been abysmal, hasn't been great i say it's great you get one crazy headline or outcome and you wake up one day and gold is $100 higher. >> let's vote, shall we? >> i've got to tell you, that was a really impressive presentation, but i'm a seller of abx i'm going to say something if you're only buying it because of the rocket man, this increased tension and that sort of thing, i would say take that money and buy bitcoin. i think you're going to get more bang for your buck if you're going for gold tore that reason, check it out. >> check out dan making a fast pitch. >> way to pivot. karen, what do you say >> i love guy, but i don't get gold i don't be get it. tim brought up all of those reasons that would have been excellent catalysts for gold none of them seem to move gold no. >> struck out again. dan? >> sell. ask for the dollar by the way, also, just not a
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good time for you. >> but boeing's awesome. >> more conviction in boeing. >> okay. so no love for guy on this set are you digging guy's pitch for barrick gold you can vote on cnbc "fast money. our pole is up plus, nike is set to report earnings tomorrow after the bell it is expecting something unusual when it does we'll tell you what that is when "fast money" returns your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory.
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welcome back to "fast money. sneaker stocks topping the tape today getting a boost after under armour scored an upgrade from key bank. finish line soaring 8% shoe stocks have gotten trampled get it >> nice. >> foot locker down 51%. finish line sinking 43%. despite today's call, under armour deep in the red down 42% on the year. nike is the exception of the group up 5%. do you trust the bounce or are these stocks a no touch? tim? >> i don't touch united armor or under armour so many executive changes, they are the ones that are most vulnerable nike at 52 is a stock you
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continue to buy. i think the relative value against adidas favors nike >> i don't own it now, it's a tax thing. i have to get a wash sale, i can buy it back, it's really cheap however, that quarter was so disastrous that i'm not dying to jump back in. >> it's interesting. under armour caught an upgrade today. the other day it caught a downgrade to an under perform. that's sort of a wash there. >> in my opinion, the upgrade is somebody playing stock market. foot locker real quick, middle of august. stock traded down 31.5 on that disastrous news karen pointed out. also traded north of 40 million shares we talked about it if you're looking for the flush, that might have been it. it hasn't exploded to the up side it hasn't gone low either. if we're playing that game, dan invited too early without being invited. trade it or fade t dan >> can't remember. >> i would not save this foot locker move.
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>> nike set to report earning after the belle tomorrow dan, why don't you break it down. >> yeah. q1 report, 5% implied move the stock on average over the last four quarters. i think most importantly the stock rallied 11% last quarterback in early july or late june after kind of a decent number sentiment was really low i think you have a similar set you mentioned the bad foot locker quarter look at this chart we have a gap from late june and then we have the give back on that foot locker see those two gaps there like guy said, the stock -- or tim said it. the stock is kind of held in after the august gap listen, here's the thing it's not a particularly cheap stock. we know that adidas is coming and we know under armour is having the problems. what i like about the story here is that the deal that they did with amazon, i think they're doing a lot of good stuff on the omni channel i think if it can hold 350 it will stay longer. >> for more "options action"s,
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check out the story. ask cnbc >> "options action." >> this bad boy is a mobile trading desk >> sink or swim. >> okay. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan,
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welcome back to "fast money. i'm ylan mui in washington the cbo out with the latest score of the republican's health care plan. the cbo saying millions of people would no longer be covered under that legislation the cbo says that that number could vary widely depending on how states actually implement this bill, but it says that it expects market disrupters and other implementation problems by this transition to block grants under the legislation. we'll get back to you with more when we have it. melissa? >> thank you very much ylan mui health care stocks initially moved around with every sort of fluctuation. what are we looking for tomorrow >> i don't know. i think if it dies, which it very well corks people are expecting that and onward with taxes. >> final trade, tim? >> weakness in banks xls.
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>> karen >> master card put i'm afraid for the business. >> dan >> easy for you to say buy it, sell it. >> check out the poll. nobody's talking about it but i think i won. get get yo . my mission is simple, to make you money i promise help you find it rkt "mad money" starts now hey all i'm cramer welcome to "mad money," welcome to cram america. other people want to make friends i'm trying to make you money. call me 1-800-734-cnbc or tweet me @jim cramer sometimes we forget why fang is fang th


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