tomorrow above 50, it will be a solid month it's been there. >> all right, we'll continue to watch that. you get delta and health care heavy weights united health tomorrow. the other thing to keep an eye on, the reports that have bubbled up in the last hour about the u.s. and uk preparing to launch strikes against the iran-backed houthis, given all the activity we've seen in the red sea. something to watch. >> yeah. that will do it for "overtime." >> "fast money" begins now. live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on top tonight. red sea ripple effect. the turmoil and armed conflict in this critical shipping channel taking a gblow on the global supply chain. shipping rates are soaring. the latest developments comi up. plus, bitcoin's big day. all of the 11 crypto efts are now trading and the frenzy pushed bitcoin above 49,000 before a mid-day fade. is this the peak of the current crypto rally? and later, netflix and chill out for ads. it's a thing. we'll explain it.

boeing's bad week keeps getting worse. and the big banks are on the clock. tomorrow's trade tonight. i'm melissa lee coming to you live from studio b at the nasdaq. on the desk tonight, tim seymour, karen finerman, dan nathan, and guy adami. a major real-world ripple effect in the ongoing armed conflict in this critical shipping channel. tesla announcing it will suspend most of its ev production at its berlin factory due to the impact on shipping costs and the supply gap. let's get to pippa stevens with more on this, and reports that the president could be addressing the troubles in the middle east tonight. >> that's right. biden is reportedly set to speak tonight, according to "the times of london," right after pm sunak held a call with his cab net this afternoon about the likely hood of a british and u.s. military strike against the houthis in yemen. this as reuters reporting that tesla is set to halt most operations at its factory in germany for two weeks. tesla is the first company to halt or slow output due to the

conflict, but as more tankers reroute around the tip of africa, it's adding time and cost for shippers and companies. shipping rates from asia to the u.s. east coast have more than doubled since october, according to s&p global commodity insights. 40-foot container now costs $5,100 up from 2, $150 three months ago. this onsides with the drought at the panama canal. another of the world's key waterways, which is also impacting shipping rates. inflation has been cooling, but a prolonged conflict in the red sea could throw a wrench in that. increases in global shipping costs could add to consumer prices over the next several months. now, of course, a lot of thi depends on how long this conflict stretches on, and the extent of the escalation, but for now, melissa, we are seeing higher prices. >> thank you, pippa. pippa stevens. let's bring in mark montgomery,

a senior fellow at the foundation for defense of democracies, informed policy director for the senate armed services committee under senator john mccain. rear admiral, thank you so much for joining us. i guess, what is your take, in terms of how the developments are shaping up right now, does it seem to be getting worse? it seems to be reaching another level at this point, especially if biden is going to address the nation tonight. >> well, thank you for having me, and you are exactly right. and it was -- the issue was teed up perfectly. we've been trying to do what we call deterrence by denial, create a defensive mechanism where we shoot down the drones and the -- and the missiles headed at the merchant ships, and where we deter small boat attacks, but that can only go so far. it -- and clearly, it hasn't done enough to convince the major shipping companies like maersk and msc and others to not do the long route around africa, which is almost 3,000 miles

longer. so, i think we're getting that point now where we're going to see deterrence by punishment, where we conduct offensive operations against houthi sites, you know, their weapons launches sites, their weapons stowage sites, helicopter airfields, in other words, punish the houthis and prevent them from conducts operations out to sea. and that might be a stronger signal to the shipping companies that the red sea is a viable transit route. >> we do want to note that the white house has since said that president biden has no plans to any sort of statement tonight, but we'll of course continue to monitor the situation, because things could change here. karen, you've got a question? >> i do, thank you for being with us. there's a story about the houthi leader says we're going to have a big response to any potential u.s. activity. how do you think about that? >> well, i think we're seeing quite a bit from the houthis now. the 27 set of strikes just reported.

the 26 strikes two days ago, you know, involved 21 cruise missiles or drones or ballistic missiles fired out there. so, i think we've seen a lot from the houthis. they've been well-armed by iran over the last decade. they have quite a bit of equipment. but i think, you know, we've seen what they can do and what we need to do now is remove a lot of that capacity, and you can only do that through offensive strikes, and i think they can be done in a reasonably risk managed way where there is little risk to u.s. forces in conducting a strike. >> admiral, you talk about risk management, and when you think about what's gone on here, the israelis launched a drone attack in lebanon last week, what's going on in gaza, and so, when you think about hamas, hezbollah, the houthis, what is the likelihood that this could spill over, something more direct, with iran, especially if these punishment measures do seem to work, but for instance, they just continue to go about this?

>> sofl, i'm, i'm certainly not advocating for attacks against iran, but we need to confine it to the proxy forces. i also believe there's cause for attacking iranian proxies that have launched more than 100 missile or drone attacks against our ground forces in syria and iraq. we've been exceptionally fortunate to have no u.s. combat, you know, deaths in iraq or syria from those attacks, but i would confine our operations to iranian proxies, and message to the iranians, this is about your proxy forces, we're going to hold them accountable. do not resupply these forces, you know, and if you do, we'll hold that resupply accountable. but you know, in no way, shape, or fiorm, should we imply that we're attacking iran itself or iranian forces at sea. this needs to be explicitly directed at those proxy forces

that are threatening u.s. forces and global shipping. >> rear admiral, thank you for joining us. talk about the coordination with the rest of the world, and who, you know, we read about where the brits are involved, the u.n.'s made some statements. it's important to understand where there is alignment and where there is follow through from other folks other than the u.s. >> so, i think there's two different types of cooperation here. on the defensive side, there's been pretty good cooperation and operational prosperity in, you know, reportedly up to 20 different countries are supporting it or participating, only half of which would prefer to be named, you know, that's unfortunate, but you know, there's one muslim country in there, bahrain, but you know, others are participating. i think, you know, that kind of cooperation is what i sort of expect. on the offensive side, i think this really needs be confined to just one or two countries to minimize the chance of collateral damage and inadvertent misses. and also, to minimize the risk

to the forces doing it. so, it would be the u.s. or the u.s. plus the uk, and i think we need to keep that extremely limited, and also, i think we're doing a favor to some of our allies and partners who are comfortable doing the defensive operations, but politically don't want to risk the offensive operations. >> what is your assessment right now of supply chain disruptions and does the situation get worse before it gets better for companies looking to use that as a waterway? >> so, i you this we're only beginning to see -- we're only seeing the beginning of the disruptions. this is -- instead of 8,500 nautical miles, it's almost 12,000. it's an extra ten days of shipment, you know, from, you know, coming from southeast asia, around to -- to european ports. so, this ten-day extension, we're just beginning to see the, you know, the start of the bow wave of that, right? and so, conditions will get worse until they stabilize it and a new normal of longer, more expensive, you know, extra

million dollars, you know, per container ship cost transit. and, you know, this is impacting about 12% of world trade, you know, in some areas, it's 10%, some it's 15%, but overall 12%. but we're seeing the bow wave of that. there will be more stories like the tesla story that come out over the next two to three weeks, and regardless of what happens tonight or this weekend, you know, with some kind of offensive strike, i believe that we're going to see the impact of this for months, and we haven't even -- we have not yet seen the totality of the impact. >> one last question, and i hate to use this metaphor, but using the baseball metaphor, what inning are we in in terms of these shipping delays? it sounds like we're at the very beginning. >> second inning. i mean -- >> wow. >> the impact started and, you know, they -- the ships began to divert, and the impact of that diversion is just starting to be felt. i think we're very early in this, and i don't think the

game's going to get called early. >> all right. mark, thank you so much for joining us, rear admiral mark montgomery. we appreciate your insight. second inning. going to be a long game. >> that was the right question. you know, you started the show last night, you asked tim, you know, how do you read these cpi, if i told you numbers, would tell you where the stock is going to go, and tim said probably not. maybe, but -- and i'll tell you, if you told me the numbers that came out this morning, s&p's down 75 handles easy, given what the expectations were and given the runup we've had. s&p closed unchanged. but what we just talked about for the last minutes or so, that's not going to help the inflation problem that we're still in the midst of. and all these rate cuts priced into the market, i don't know, i think people are getting ahead of their skis. >> if we thought it was sticky, it could be stickier, given the increased shipping costs. >> and the market's playing like we're in the bottom eight or the top of the ninth in terms of fed

policy -- i like this met or the, we need to continue it throughout the show. but as guy said, that cpi number -- it doesn't necessarily change the fed. it does tell you that the fed is nowhere near cutting. i mean, in some sense, i don't think that the fed has told us that by near cutting. a four-week moving average on this means there's zero movement in the job market. joblessness is not increasing in this country in a meaningful way, and all of this means that inflation is a lot stickier. basically today's cpi says we're not -- you talk about the early in the game, you know, cpi at 3.3, 3.4 on core is still very far away from the fed getting to 2%. >> housing costs are really sticky, and moving higher at this point. insurance, very high. i mean, now we have these additional costs that have not yet gone through to prices. >> right. right. no, the first thing i thought of, as well, listening to him talk was about, okay, this is not good for what we've seen, a reversal in the supply chain issues that have come up for the past two years.

and that has provided a really nice tailwind, as companies have been able to say, our land of goods cost is better so the gross margins are much better. now, this reverses all that. that isn't good. and then, i don't know, i would expect to see increased volatility, as well, which isn't generally good. >> yeah, brings us, though, to two years ago this week when tanks started rolling or amassing on the ukrainian border from russia. we saw crude go higher. make no mistake about it, that situation, in that short-term situation, the unknown about how long that war would last what the disruptions would look like, caused a huge spike and it definitely made much worse the inflation situation at the time. especially when a lot of folks were expecting that the supply chain disruptions from covid were getting better at that time. here we are two years later, and we have gas, you know, at the pump, $3 nationally, we have crude oil, right, at $71 or something, can't get out of its own way, down from $95, despite

a lot of the geopolitical issues. the near-term, we're going to see the charts, all the shipping rates, they're going to go up, we get used to it and we work it back in. again, if these sorts of disruptions to manufacturing and supply chains, you know, if they're real, like, who knows? second inning of this stuff? i don't know. like, we just dealt with a global pandemic and got through it and everything seems to be going okay. >> i think the u.s. is somewhat isolated relative to other countries from this being a, you know -- and it's sort of reinforces the on-shoring idea, or near-shoring. >> which is inflationary. >> stickier inflation in other parts of the world might be a bigger challenge for those central banks opposed to where we are in terms of our own economic data which is much stronger. >> i think that's right. and look, there's no question that we have a very tenuous, complex geopolitical situation in the middle east. and for equities, i'm fortunate enough to be asked to fill out,

be part of the merrill lynch bank of america fund survey. when they give you listings of what your biggest concerns are of 2024, the -- and it's everything from the federal reserve to a credit crisis, but where people are clicking on more than anything is geopolitics. it's certainly where i'm clicking. >> this, or china or -- >> yes, yes, and yes. because there's no question, because we have taiwanese elections, elections here, around the world, but we have the horrors of war going on in the middle east, and i think it's a case where the risks go up. it as reinforces the energy security trade. it's great for gold, it's great for uranium. some of these trades are things to think about. it is also -- you know, if it really gets ugly, it's a dollar flight to quality story, which isn't good for equities. there's a lot to do here. >> that's exactly right. making the dollar go higher, and then the bonds, making yields go lower, because -- yields should have been markedly higher today. i think, given those numbers we

saw this morning and they were muted and maybe that bond auction at 1:00 did something to mitigate that, but it's a -- the cross currents are tremendous. taiwan election is a big deal that nobody seems to want to talk about. but with all eyes being on the middle east right now, all eyes are being taken off what's going on continued between -- well, i don't want to say between, the rhetoric out of china. coming up, big day for media stocks. netflix, paramount, and warner brothers all on the move. the latest headlines driving the streaming space. >> and disney's latest consumer push, next. plus, boeing's shares sinking, and regulators are taking a closer look. how options markets are navigating this news and the impact on airline earnings. don't go anywhere. "fast money" is back in two. li> this is "fast money" with messa lee, right here on cnbc.

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i think he's having a midlife crisis or reveri'm not.s so you won't miss an opportunity. you got us t-mobile home internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is. welcome back to "fast money." netflix shares touching their highest level since january 2022. meantime, paramount and warner brothers down in the dumps after analysts at redburn atlantic downgraded both names. disney launching a new shopping advertising experience. julia boosten has more on all the stories. julia? >> yeah, media stocks moving around today on news about growing ad supported streaming

businesses and on concerns about challenges to the linear tv business. now, let's start with the stock that was shooting higher today, that is netflix. shares adding 3%, up over 5% earlier today. this after netflix's ad chief announced the ad supported tier jumped to 23 million month li active users, up from 15 million nearly three months ago. they talked about high user engagement. warner brothers discovery and paramount shares plummeting after downgrades. the firm warning that linear advertising is at a negative tipping point and consensus does not adequately forecast declines across the group. paramount shares losing 5.5%. the firm saying they see the most downside in paramount, while warner brothers discovery shares lost 4% in a downgrade to neutral. warner brothers discovery got a note out yesterday from bank of america reiterating a buy rating, but noting that the company is managing through a

challenging macro environment. also looking at disney, they are up after announcing new ad tulles, including a shopable ade format, which lets consumers and streaming viewers make a purchase from an ad without leaving the disney+ app. this is aimed to make the streaming ads as effective and valuable as possible. melissa? >> no mention in that red bird note about paramount potentially being on the block? >> well, of course, there's a lot of sort of speculation about paramount being on the block. and what my sources are telling me about this, melissa, is that this still has to go through due diligence process and yes, there is interest from david ellison and his investors and his team, but they still haven't done the due diligence yet. >> all right, julia, thank you. julia boorstin. tim? >> well, you know, netflix's ability to move away from the pack is never more apparent and is a question of what you want

to pay for it, but in terms of the cash flow generation of the story, but the engagement, the ability of this model to grow upon itself. we haven't even talked about things like gaming and what not. didn't have a position. i sold the stock, i don't know, $100 ago and i thought i was going to get the chance to buy it back. i would love to buy this on a dip. a lot of people would love to. and other names, ugly names, i own a couple of those. i think m&a in the space, sum of the parts, is heating up. the downgrade, i don't think they told us anything we didn't already know. i think the specialized private equity, all the people within the industry, i think they're buzzing and it's just about what the assets are worth and they will be bought. >> it is staggering to think that netflix in november had a little bit more than 15 million global monthly active users to go to 23 now is a tremendous -- >> it's a huge jump. and that's why the stock is acting in kind. and tim said, you want to buy it cheaper, he may get the opportunity after earnings. i think on the 23rd.

but you say 31 times is expensive, i guess, but with the earnings growth, maybe it's justified. citi downgraded the stock, want to say earlier today or late last night on the back of their concern they're going to spend $20 billion or so post-strike on content. maybe that's a reason to downgrade it. or maybe that's a reason to say, they're so far ahead of the curve, they can do those things. >> yeah, that would be my interpretation. you know, the streaming wars have been so bloody and costly for everybody involved except for netflix, who stands alone with positive free cash flow, a very good balance sheet, the ability to to do that content spend. i'm long. i love the strategic position they're in. >> interesting, you know, we spent a lot of time talking about this really since netflix kicked this off about a year ago or so, and i go another way with this, i think about social commerce. i think about, like, i read a stat last year, instagram, that has 2.3 billion monthly act tich users, a third of their users

are going to make a purchase on instagram, right? it gives them the ability to place more ads and be more engaging and that brings me back to this disney, you know, we talked about, that walmart, that commerce thing, introduced that short form show that streams, you can buy the stuff from there, i think these things are all coming together at some point. i think there might be other partners for the streamers, the lesser streamers, like a paramount, and we're going to see that in '24 and '25. a lot more "fast money" to come. here's what's coming up next. boeing burned. shares sinking again, as the feds get involved with last week's major malfunction. what they're looking at, and what it could mean for the company. next. and speaking of airplanes, delta results are on deck. and this name has gained some serious altitude over the last few months. so, can it keep flying high? we'll debate. you're watch ing "fast money." live from the nasdaqar mket site in times square. we're back right after this.

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welcome back to "fast money." boeing shares still reeling from last week's midair door blowout, down more than 10% since monday. and now the faa is launching an investigation to boeing's quality control. dan was flagging some options activity in this one, indicating what? >> yeah, interesting. short-dated call buying. so, you see astock gets hit like this, you know what i mean, they're looking out to february 2nd weekly expiration, that's a couple weeks here. i think karen's got a multiday rule or something like that. >> three-day rule. >> let things shake out. there are going to be a couple more bad headlines. >> a lot of bad headlines. >> if you are looking to play for a bounce, maybe these things, they get these inspections done quicker than expected or something.

that's the way you would define your risk and do it. short-dated options in the money, paying that sort of premium doesn't seem like a great way to do it for me, because i think all of you guys and i know tim you've been long this thing, you're going to have to be patient here. you've done this for the last five years on a few occasions. >> it is a story to be patient, and we're going to hear from them at some point soon, and the free cash flow profile of the company, to me, is what it's all about. i'm not discounting the fact that you could change your discount level on the stock, but that's not how people value it. they value it on free cash flow. their defense business is strong. guy's brought that up recently. and the free cash flow again, they delivered, i don't know, 540 aircraft last year, and you think about the max profile, the calculus that's being done is that this is not a big deal. i'm not going to tell you it's not a big deal. it's a big deal. but longer term, they get back to where they were. >> they have ten days to file a report to the faa to say what was the root cause to that door plug blowing out. that's going to be another sort of catalyst, either way, for the stock, potentially, when the

report is filed. >> and they report on the 31st. so, all these things line up. and, you know, if we just look at it in terms of math, forget about the human factor and the emotional -- it's not a big deal. but when you bring in the fact that they've done this now a number of times and they seemingly can't get out of their own way, people are selling first, asking questions later. we talked the other night about a level, 220, it got close today. and the next level is 205, but into earnings, if you have an opportunity to start at 220, i say yes. and if something happens on earnings it gets you 205, with both hands, you buy the stock. >> it's a duopoly. where are you going to go? and so, i think like the prior things that we've seen in boeing before -- >> where are you going to go? will boeing have to discount in order to make customers feel secure? >> yes, maybe. and that worked before. >> new quality control measures, the costs and fines. i mean, in terms of -- >> i don't -- >> let's think about all the

different ramifications. >> you're not dropping price on planes. and -- what do i know? but i'm not selling, i'm not buying. but if you start dropping prices on planes, that's not helping the quality perception. and also what we've determined is this wasn't a design flaw. very different in terms of cost. very different in terms of the concept. again, i think the economic impact is something that we can at least right now, first of all, it's unknown. but i think you can start to model this out and still make a call on this stock. coming up, bitcoin begins. the long-awaited bitcoin etfs kicking off with trading this morning. and as you can guess, there were some pretty big swings. will the new way to trade mean a new waive of crypto investing? brian kelly will join us next to lay it all out. and we've got two more 2024 acronyms just minutes away. karen's grabbing the wheel. and guy's chilling out with his. we'll explain when "fast money" returns. missed a moment of "fast?"

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welcome back to "fast

money." stocks closing near the flat line after a holter than expected inflation report. big names hitting milestones. shares of salesforce and amazon touching 52-week highs. shares of docusign jumping 10% after reports that two private equity firms are competing to acquire the company. dou docusign has a market value of $12 million. hertz is selling 20,000 of the evs in its fleet as it reinvests in gas-powered cars. it's a statement in hertz and tesla specifically. >> the comments around this are startling. and talk about a 180. the fact that i.c.e., internal combustion engine is what people want and where people are trading. makes a gm shareholder feel like some of that, i think, intrinsic value in the name. it's clear, they said it. we're seeing demand, or lack of demand for evs.

there's a dynamic where maybe you got the early adopters out of the way, even in the rental car world. that's the argument in ev land more broadly. >> what's interesting, too, is that because of tesla's price cuts, the value of their fleet declined, and now here they are putting more inventory into the channel, where would put more pressure on used ev prices. >> yeah. they were pretty pissed about this, remember? and so, to the extent that they borrow on the cars, right, and then tesla cut prices twice, i think, that didn't go well. and so, i don't know, maybe it's a little bit, okay, fine, you do that to us, we'll kind of dump these. but i think it's interesting that -- i don't know if it's that renters don't know how to drive the electric cars, that's one -- >> they don't want to take a chance. >> they don't want to take a chance. it is, i thought, very interesting, though, and we've seen some secondary price movement in those cars like you suggested. >> volatile day for bitcoin, as

11 new etfs made their debut. most of the new instruments dropping today. ark and the grabbing lynn bitcoin etf the biggest losers. let's bring in brian kelly on the appetite for bitcoin etfs. brian is on the fast line. b.k., did you pop champagne? how did you celebrate this? >> yeah, very early in the morning, 9:30 a.m. new york time, that's a little too early for b.k. to be popping champagne. it was an exciting day, considering the fact that bitcoin's been on this trajectory from the back waters of the financial world to being called an index for money laundering and today it finally actually becomes a new asset class. finally retail investors have a way to invest in in their own brokerage account. >> we were looking at some of the historical charts of bitcoin, and in the past year, it's up 160% plus. are we looking at the days of extreme volatility being over as bitcoin, you know, resides in more portfolios out there? does volatility get dampened and

the swings get dampened and maybe the gains are dampened? >> you know what, i think there's a good argument for that, and that's something that i've always thought over time. people have said, hey, bit count ca bit ccoin is too volatile, and said, wait until we get options and futures, and a full market around it, and you have people that actually want to sell it as a hedge, that want to use options as a hedge. that will likely reduce volatility over time. i think that's a three to five-year process, but at some point, a volatility junky like b.k. will get bored with bitcoin. >> brian, the gold etf, i remember the excitement. gold etf comes out, price went out and it went sideways for months, if not lower. we saw a move up to 49,000 today only to give it all back. is there a chance that this is a short-term high in terms of

bitcoin? >> oh, certainly, right? at this point in time, you have to say, okay, why is somebody going to buy bitcoin? besides, hey, i just want to have it part of my portfolio, you have to have the macro tailwinds, which we do. with that cpi print today, that is maybe a little bit of a headwind, if you think the fed is going to be higher for longer, but certainly, you know, it is going to change from just the accumulation story, that will still be part of it, but then the actual investment thesis around it will start to come in. and we've had bitcoin up 160%. i can't blame anybody for taking profits off that much. >> hey, beeks. there used to be a saying, to own your coins, hold onto it, something like that. what does this announcement mean? if normies like me and guy -- >> normies? that's being generous. >> hold it in our i.r.a. -- >> not sure how you're defining normie. >> well, that's what the kids

say. there are two different things, buying a piece of a bitcoin, a coinbase wallet versus owning, you know, a fidelity bitcoin etf in their brokerage account. >> so, yeah, just for the record, dan, i don't think you're a normie, i think you are quiteabnormal. but anyway, because the saying you're talking about is not your keys, not your bitcoin. it's the same thing about a gold bar. if i own a gold bar, it's in my safe, something happens, i can shave that off and buy some milk with it. same with bitcoin. if you hold it in your wallet, you can buy something. with the etfs, with gold and bitcoin, if you actually need those coins, you can't go to blackrock and say, give me the coins. just like you can't go to blackrock and say, hey, give me the gold. it is the different type of investment and investors should know the difference. one, you don't own it physically if you own the etf. >> b.k., last question, they're going to be really mad at me,

but how did you trade this going into the etf launch and how are you trading it now? are you anticipating that we'll see continued pull-backs at this point as more and more people get onboarded into this and maybe some money does shift out, because some money was in bit count for the etf launch? >> yeah, there certainly was, and that was part of the investment thesis that i had coming into this year, that as this etf ramped up, you'd get that euphoria. i start to look around at some of the other coins. you look at how strong ethereum was today. i think eyes are going to be on' this here yum. maybe it's the next one that's going to get an etf. you stake it at coin base, you get a 3% yield, in quotes, so that actually looks a little more attractive to me today than bitcoin does. >> all right. b.k., always great to hear from you. >> always great to be here. >> for more on where bitcoin is headed, let's bring in the chart master, carter braxton worth. hey, carter. >> hi.

well, yes, my hunch here is that if one is long, to reduce that exp exposure. let's get to it. i have five identical charts of bitcoin. each with different annotations, but the first thing i would point out that's important is how precise the sequencing has been. which is to say, we have that 100% advance, it was exactly five months, right, november of 2022 to april of '23. and then we have the second one that's just coming up on the five-month mark, also 100%, september of '23 to january right now, 2024. if you keep the same chart, look where weare, at the top of this very well-defined channel. those are mathematically parallel lines. let's put some arrows in. you'll see here that the presumption is that we have a sequence that is very analogous to the last time we got to the top of the channel. if we anno talted it another way, just how precise it's been. it's been a pinball machine. bitcoin has ascended in this

channel, and i think it will back away, having reached the top. and then the final chart for bitcoin, again, the same time frame. we're right at the prior two-year high. and so, does it mean he has to crash? no. could it eek out further gains? sure. but given all those lines and arrows, my thinking is, reduce, take some measures if you are long. >> carter, thank you. carter braxton worth. karen, how are you trading bitcoin? >> not trading it. staying long, staying long bitcoin, staying long the other coins. really, it's in brian's hands. he's doing a masterful job. >> how about you? >> i love the idea of buying some in an etf and putting it in an i.r.a. and let it compound tax-free. think about that stuff. i don't know about you guys, but i got shaken out during that ftx shenanigans. that was kind of scary. the idea that we might see some of those institutions go down and having your bitcoin there or whatever it was.

so i can't spent a lot of time on it, but this is a big validation. >> i think -- find yourself a basket beyond bitcoin, and this is the really, really tough part, but there's no question that the digital current si world, the digital token world, is back. now, it's back in a very different way and i think we've shaken a lot of, you know, bizarre and dead wood out of the trees and i think it's time for people to look at who is selling them what. >> we've got a news alert here on the situation in the red sea. reports that uk prime minister rishi sunak has authorized joint military strikes against the houthis. the uk has authorized these strikes. we had rearadmiral mark montgomery on earlier today, saying that these offensive strikes could be very effective in terms of limiting the capability office the houthis and sort of putting a damper on the situation for now, but that we are very early in the game, in terms of the impact on the supply chain, in terms of increased costs that the consumer ultimately will have to bear. so -- >> geopolitical risk continue -- tim said it.

we talked, two years ago, we talked about the things we're concerned about, geopolitical risk, that was aid head of russia/ukraine. it hasn't changed. coming up, another round of trader acronym. two on the desk are ready to reveal their picks. one is ready to take the lead. the other is going to play it cool. they'll explain next. and big bank earnings set to report. why one top analyst does not expect to see any drama this season. asmoy"s ckn o."ft ne iba itw

welcome back to "fast money." all week long, we've been unveiling our trader acronyms. today, karen finerman and guy adami will reveal their carefully curated acronyms. karen? >> i could pick a word and choose investments that fit that -- >> that's how we do it? >> i decided to go with the former. so, i'm taking a little bit of liberty on the acronym part. my act ronym is helm. the h is health care, the xlv. gives you lilly, which has

sucked all the oxygen out, but the rest is much more diversified, united health, medtronic, so, that's the h. the e is also cheating a little bit, it's the xle. the energy etf. so, you all know the energy story, right? i mean, i can't believe where this is trading on a p ebpe bas. you have exxonmobil, ridiculously cheap. very out of favor this year. staying with that. the other two, l -- >> now we're going to real letters? >> real letters. right. louis vuitton. this is, obviously, the premier luxury goods name and it's had a very difficult year. it is really an imbedded china rebound story. so much of the revenue, that is the biggest geography and so i think we will start to see that work and then, the last one, meta, i hate picking something up this big, but it's still incredibly cheap.

it's got a lot of momentum. i think we're going to see -- at 24 times earnings, it is not expensive for an extraordinary company. and so, that's my acronym. >> she going to go on xxlm, be a roman numeral. >> i tried that. >> would be 1070. >> which doesn't really -- >> or meta could have been lockheed martin and it could have been l. >> she didn't want -- >> that's not what she wants, tim. >> i understand. >> anyway. >> so, in trying to play this game, play by the rules, and in the commercial break, it was brought to my attention, by the way, that ice breaker used this so, i would like -- can i raise my hand? >> you just did. >> what would you like to do? >> what do they call when they do that? >> audible. >> the letters, when you put them together? >> acronym. >> it's supposed to spell a word. >> change it? >> take something out and -- >> i'm going to rearrange the letters, like a scramble. so, i was going to be calm, but the breaker had that, so, i'm going to make it clam instead. because why not.

it's an organic thing. tim took chevron, somebody took exxon, i'll go conocophillips. and by the way, where the rest of these energy companies are selling off, it's held in there. the l in my clam -- >> i don't know you chose lockheed. >> if you pay attention. we spent the first five minutes of the show talking about it. valuation is still reasonable. defense spending is 56% of the budget now. stick with lmt, best in breed. the a, i got to stick with gold. agnico eagle mines. levered to the price. i think the price goes higher. and m, nobody will guess my m. you know what? with all the infrastructure spending, look what martin marietta has done. and over the course of the last two weeks, upgrade by morgan stanley, upgrade by jpmorgan. valuation not stretched. they win to aggregate, cement, all the things that tim has in

his garage. >> in his head? >> and his head. clam, mel. clam. >> clam. calm at the bottom, we'll change it. >> we'll amend it. >> it's clam now. >> and karen is going to stake with her fake acronym. coming up, the countdown to q-4 bank earnings is on. bank of america, jpmorgan, city and many more set to report tomorrow before the bell. oustl bring you the trade on the grp raight ahead. more "fast money" in two. - it was the best thing i've ever done, and- - really? - yes, without a doubt! - i don't have any anxiety about money anymore. - great people. different people, that's for sure, and all of them had different reasons for getting a reverse mortgage, but you know what, they all felt the same about two things: they all loved their home, and they all wanted to stay in that home. and they all wanted to stay in that home. - [announcer] if you're 62 or older and own your home, you could access your equity to improve your lifestyle. a reverse mortgage loan eliminates your monthly mortgage payments

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welcome back to "fast

money." bank earnings kick off tomorrow withjpmorgan, citi, wells fargo and more set to report. t our next guests expects a modest deterioration next year, but still believes the group is resilient overall. joining us now is christopher marinac. chris, great to have you with us. >> thank you. >> the run in the bank stocks in the last part of the year seems to be not a good setup for t these -- for the earnings season. i'm wondering where you stand in terms of the valuation of these stocks at this point after this run, given what they're going to report. >> so, they are still inexpensive relative to the s&p, so, that's not the issue. i think tangible book is going to go more this quarter. the question really is, did the interest rate move already happen? and if so, then the stocks could simply trade sideways for the short-term. i'm looking for earnings to kind of be flat coming off of the

quarter in terms of forward expectations on earnings. i don't think you're going to have any major credit problems. i mentioned a slow walk on issues this year in terms of credit deterioration. i think there's a lot of cash flow that banks have with their pp & r to cover future reserve growth when they need it. i hope the banks keep growing reserves. i think it's necessary to do that in this environment. >> it's karen. thank you for being on. i agree with you on the general take, it's not a hugely significant quarter, but i do think for some of the money centers, i think the capital markets business should be a nice tailwind. do you factor that in? >> sure, and i think that the comp that most of the capital markets businesses were paying during the year was limited, so, you may actually get some of the reaction in december and november being strong that will help it be a better quarter from cap markets. i think that's a great point. and the extension in the first quarter could also continue. i think a lot of people did not do deals last year that actually

could come back and do trans actions, private equity, bank m&a could be stronger this year and even this quarter. >> hey, chris, tim. citi bank, we talked about it last night. restructuring charge is great news for me. i think question for me to you is, are analysts starting to see that citi is worth more on a relative basis to its former self? >> i think so, tim, because the deposits at this company, domestic or more importantly global are really, really strong. and i think the deposits of any bank is really what drives the long-term value. so, doing the restructuring, getting focused on making money, trying to grow tangible book value to get the stock above tangible book is a really good thing, so, i think the funding of the company, particularly worldwide, is very important to how the stock can come back. >> chris, thank you for joining us. chris marinac. which one are you focused on? >> citi -- well, jpmorgan in terms of the commentary. citi in terms of the reaction of the stock price. simon properties, since

september, up 45ish. things haven't gotten that much better. but shows you the magnitude of the short positions and the euphoria around the stock market. keep your eye on these stocks, as well. >> yeah. karen? >> well, i'll be listening for jamie dimon, as you can imagine. >> of course. >> and he'll be listening for you. >> well. >> i doubt it. but anyway. no, i do want to hear their commentary on the economy, that's the most important thing to me. i don't think the earnings themselves are going to be the news. >> well, i want to hear about some of these businesses, i want to hear about m&a, capital markets. these are things that are vir cyclical. i don't think everyone is expecting all that much. i think banks go higher in an environment that goes sideways overall for the economy, and that's what we have. >> all right, up next, final trades.

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time for the final trade. let's go around the horn. tim? >> slightly different media play, ticker fwona. it's a media play, but on formula 1. royalties, capital light. what is a premier global sports league. very interesting. >> very catchy. karen? >> yes. going home with the girl that brought me to the acronym. xle. >> there you go. >> i'm going home with guy's l in clam. that would be the lockheed martin portion of it. >> interesting. >> the l in clam. >> guy?

>> i'm going home with my failing constitution. rangers in st. louis tonight. we're going to right the ship, mel, as we talked about. look at what gilead has done over the steerage of a georgetown grad. check that one out. >> hmm. thank you for watching "fast money." see you back here tomorrow at 5:00 for more "fast." "mad money" with jim cramer starts right now. "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 march, 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 just trying to make you a little money. my job not just to entertain but teach. call me at 1-800-743-cnbc. tweet me @jimcramer. maybe it won't be a cakewalk for the bulls after all. today we got a number that didn't fit. a consumer price index reading that was actually a little