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let's get to the word on the street. it seems like all systems are a go at this point. call me an optimistic. the occasions are few and far between, but this rally had widespread participation, albeit on low volume. >> you have to discount the low volume. if you're in this market and you played it from the short side, you lost money. clearly the last three days, since the federal reserve statement, has been all about maximum frustration. you hear in the back of your mind the song -- "should i stay or should i go -- by the who -- the clash. >> the who. >> a lot of people last week at the end of the week were talking about the technical formation where you saw intraday reversals. >> i would go to tom petty, "the waiting is the hardest part." i've been waiting, baby. the s&p 500 up day long. widespread participation.

it's been extraordinarily difficult for me. but at least some themes we've had right. the m&a theme. some of the asset managers we've had right. joe has been on. that seems to have broken out. >> overall, you are still bearish on the market. >> i'm getting my brains beat in. >> we're going to quarter end. how much of this is quarter end. how much of is it real guys sitting on stocks putting money to work? that's the question. >> tell us. >> flip the coin. you have a lot of money on the sidelines. i don't see october as being a huge month where guys say, let me step often the sidelines and step in front of the train. >> what do you see from the options pit? >> a lot of fear in the market. 25 vix. we couldn't get any higher today. in fact, we lost several percent out of the vix today. so i'm not seeing signs that people are worried right now,

melissa. i think rather that people are positioning to hold on to gains they've got. they've already got protection in place. there's not that panic, that scramble that occurs when people go get it. >> if you take a look at activity, there's heavy pit buying when it comes to efts, financials, technology, et cetera. people aren't willing to have things called away from them. >> they don't want them called away. although i did. i said that this weekend at that philly conference we had. i was 92% invested into expiration friday. not that i'm smart. i was out on monday the next week, down to 8%. why is that? because options expire, folks. all those in the money options i'd written, took the stock away. i was fine with that. i'm very confident i can reload at any point here and mr. grasso can tell us except on days like today when the volumes are lightish because of yom kippur, there's plenty of liquidity to get in. you don't have to worry, am i going to miss this train? >> liquidity is definitely

there. the trick is is going to quarter end, these funds have to show they're invested in a lot of these stocks with best performers. they're forced to chase the ones already up grotesquely. i use that in an ironic way. that's why you can see the names have people have been chasing. i think november and december will be big up days for the market. >> in the next couple much days, getting a tremendous amount of data points. you'll get a look inside the s.i.m. they will drive the decisions of money managers. whether to stay in the market, add to the market or pull out. >> let's talk about the theme of the day certainly. that is merger monday. ibankers busy this weekend. more than $14 million were announced on a mega merger monday. the ibankers were busy. it's interesting to see who was busy. it wasn't the goldman sachses of the world. in fact, goldman sachs was noticeably absence.

it was citi and barcap that had lead roles in a lot of the deals announced today. >> let's talk about one of the stocks that made an acquisition, abbott labs. most of their major drugs come off patents. in comparison, pfizer comes off in the next year and a half. abbott, they make a greet deal for them. the street loves it. they buy a company and the stock actually goes higher. my problem is it's been resistant a number of times. came off today. big volume today. but to me abbott with a nice dividends is still a stock you want to be involved in. >> i added to my position today. i love this deal. it will add 3 billion in revenue annually. it takes pressure off humera sales.

they're getting exposure to russia and india. the pipeline extends furtherer out to 2016. i think abbott labs is a name you have to add in your portfolio. i see the stock going north of 50. >> look at the way it played out today. one week ago, we had big mergers again. last week, the markets reacted just the opposite. joe would have been here and was here probably pounding the table for the commodities, pulling the market down. the s&p and nasdaq and dow jones were to the down side. today that's reversed 180 degrees. some of that could be what steve's saying, end of the quarter. nobody wants to step in front right here. like i say, this was a significant lift. that was there a week ago. where was the lift then? >> you hear merger monday, the first question that pops into your head, guy, as well as other people on the desk this morning on our conference call was, does

that mark the top? >> you know what, do we have a chart of the day? >> in fact, i think we do. >> huh. >> throw it out there. >> throw it up there. >> good job by you. if you go back to the pinnacle of this market, effectively maybe m&a activity, maybe the recent swell in this market could top. i don't think we've at the top in terms of m&a. i think we have a little ways to go. this could be the first red flag. nice job with the fire. let's talk about the other side of the m&a play. the green hills of the world which traded up to 88.5 today. apologies to government workers. we talked about jeffrey, a stock that has broken out on the way to 29. this is a rising tide for the secondary shops. we talked about them. i still to a large extent like them, although i think the run may be coming to an end. >> i want to put a bow on a conversation about what m&a signals. 2007 was the peak. a lot of that was driven by private equity firms.

a lot of different m&a, strategic m&m. >> they had no choice but to go to banks to raise money. now they have to go to the public. >> stock prices have doubled. they have easier sales trying to raise money your stock price is 20 versus 40. >> even though it seems like and it is the opposite of what it should be, the ability to raise money at 20 should have been a lot easier than it is here at 40. nonetheless, people look at it and say, the recovery's in. i'm okay with that. you look at simon property group and all the reits have gone to the market. they were crushed. they were wrong. that's why the trade has gone exactly the opposite way of the way everybody thought it was. >> it was m&a activity based on private equity. now it's based on balance she want.

it's all cash on their balance sheets. the good news all along is that corporate balance sheets are getting in better order. they're using that balance sheet to buy other companies. it doesn't necessarily mean this is the bottom of the market, as you pointed out earlier. >> the trade-off might be in the finals. if you're looking for a way to get the exposure, the capital markets' eft, i bought that today. you believe in the jeffrey's and the green hills and improvement of capital markets. it encompasses it all. >> on the good side of it, as guy just said, that m&a is a positive sign. what you see reits come out with new secondaries, it's a sign their balance sheet is still in traditional shape. >> let's move on to topping the tame.

chip stocks jumping on the back of a citi upgrade. that cisco upgrade also helping certainly. looking at intel, that's the name that stood out on my radar. 1970. >> i'll say it again. look, i own intel, first of all. but i go back to when they raised revenue. the stock traded up to 20.5. it's effectively gone down ever since. concluding today frankly. pete will say we're building a base. he may have in fact be right. i will say that the price action leads me to believe intel doesn't want to go higher right now. we had an analyst on last week that says valuations are fair. it's got a different twist to it

as well. i wouldn't blanket the chip sector. >> what happened end of the last week, we talked about twitter raising $200 million. you don't think people are upgrading servers that run businesses like twitter? they do exactly. that plays to micron and a lot of the semi plays where they need that additional memory. that's happening right now. that's why people are buying these stocks. because there's a lot of money sloshing around that people need to upgrade. >> micron is one of the names that i've seen institutions acquire in the last month. >> you've been seeing activity in micron. >> earnings tomorrow. full disclosure. i own the stock already. i will be looking to maybe trade to the sideline after this call. >> they have lined up excellently. if you look at corporations, the balance sheets right now are relatively okay compared to the consumer. now what exactly does the corporation do with what they have on their balance sheet? they are not going to begin the process of raising labor costs and going out to rehire since they've managed the bottom line so well. what do they do with that capital? they're going to spend it on what john is talking about, a pc upgrade cycle. they're going to improve your cycle. they're going to see technology

be the main beneficent of corporate spending over the next six months. >> cisco specifically. 52-week high would you put fresh capital to work at a 52-month high? >> cisco is not one of my favorites. i like apple. if you like at teradyne and broadcom. >> we told you to avoid rim and said it will overextend to the down side. it overshot with a 66 and change channel. those that want to pile in now, it's probably not a bad time. but it's interesting that rim had a lousy day. look at you, nice job. >> trend line analysis 101.

>> that brings up a good point. r.i.m. was awful. it could be a bloodbath. >> you bought r.i.m. this morning. >> i did. and i'm dying. no. i bought 55 and sold at 70. to joe's point. at the end of the quarter, what happens? they look at the underperformers. what will be the biggest underperformer out there, folks? r.i.m. i'm an oklahoma sooner. i'm early, unfortunately. but i am buying and i will buy more if it gets to guy's number. >> what if it gets to 65? >> i think it will get to 65. i don't know if i'll be there. >> i don't know it's a different story than nokia. we had an analyst on on friday. that got a lot of institutions worried. >> it's got the higher-priced phones in the pipeline. >> the traders that watched nokia and lost a lot of money on

it are still thinking it's a flash in the pan. >> let's move on. not everything was working in today's rally. one downgrade was steel. interesting considering this comes a week or ten days after citi turns everywhere positive on the steel industry. for the opposite reasons. goldman was saying pricing was going to be in trouble. citi said pricing was looking good. >> i think goldman is right. there's a glut of steel out there. that's a pretty interesting move by goldman sachs. we'll see who's right in the long term. they said newcorps, which is unbelievable. that stock they said was the favorite in the sector. you go back a couple of weeks ago, september 15th, they said they were going to lose 20 to 15 cents and the stock went higher. that's a great tell. joe talks about that a lot. nucor goes up. i'm dying to get out of it. the stock tells you to stay with

it. >> nucor and steel dynamics. they were the biggest supporters of cash for clunkers. so much money for them. goldman is as right about this play as they were about the home builders last week. it's funny that citi is on the other side of both of these. citi was right about the home builders. goldman is right about the steel stock. >> goldman mentioned about the rising potential demand out of china resurrecting and restarting the sector. if you look at what's driving goldman sachs stepping away from the steel names, it's steel pricing in china. that was the high in steel prices set in china. we have had each week a significant decline. it's a straight downtrend from august 14th. steel prices in china are coming

down. >> imagine we hit the slow period for steel, which is november through january. we could be in for more trouble ahead when it comes to pricing. let's move on to the next right here. a head scratcher in today's market. the past couple of sessions. despite news of iran test-firing over the weekend, oil didn't pay much attention, rising 82 cents. it does seem like a dollar strength story. will anything get the streak going again such with us is addison armstrong, director of market research at addison energy. where are we headed on oil here? >> well, i think that in the short term, we're heading lower. i think probably later this week, we're going to see another set of very bearish inventory numbers out of the u.s. government. i think that will have us testing to get below $62. this story about iran and the market not moving up is very telling. a market that doesn't move on bullish news is not a bullish market. >> addison, it's joe. having you here is great for people to get insight into the

otc market. that's obviously your expertise. tell me what's going on outside the futures. are you seeing any large bearish bets or bullish bets being placed right now? >> you know, the bets last week -- i didn't have a chance to check them today. last week certainly we saw december, 65, $55 puts trading. they moved up a lot in terms of volume and interest last week. >> are we coming back in line, addison, with what the real demand picture is? all yearlong we've been talking about how the price isn't justified and the demand is significantly lower. 10, 15% low is where oil would be. are we heading back to that kind of adjustment? >> i think so. again, i think the $60 level is going to be kind of an equilibrium level. going back to what you were talking about about steel. that's very telling.

steel manufacturers are large users of energy. we know that steel prices have softened up. it's one thing out there telling us even though people keep talking about their economic recovery, we're really not outs of the woods yet. >> what do you think about the nasty here? it looks like a bottom in a couple of weeks. it wants to go higher. continue from here? >> i'm not sure it it wants to go higher. expiration today. the market sold off pretty sharply. the calendar strips are starting to turn a little lower. they had a good run over the last couple of weeks. they're starting to turn lower. the fact of the matter is we'll have 3.9 come the first of november. the weather is not going to be that sharply cold between now and december. i don't want see where the support for natural guess is going to come from. >> addison, thank you very much. >> my pleasure. >> what are you calling that is? >> the nasty gas. >> that's with a "t."

a trillion cubic feet in the ground. >> it's really difficult to get your arms around any theme you can get into. look at the refiners. the refiner trade might be the best trade in the commodity space right now. >> let's see what's going op around the floor today, shall we? >> rosh hashana and yom kippur. i don't know. certainly people have been talking. >> it's worse than the super bowl indicator. it used to buy buy on rosh hashanah. >> if you're flip-flopping the market adage, it's no adage.

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elieve arthri day. how you coul. welcome back to "fast money." we're live at the nasdaq money site. triple-digit rally seems to be doing so without much volume. the rally picks up steam and volume continues to sink. today's run is no exception. could this mean a bearish

october is ahead? with us now to play bull market or bs, our favorite game is dennis gartman. >> in japan, it's the end of the half year. an awful lot of hedge fund managers have not gotten paid for a long period of time and finally are. they'll push this thing to close on september 30th as high as it can go. after that, i have my doubts. it bothers me this entire rally has gone higher as volume dwindleded downward. volume is supposed to follow the trend. when it doesn't, you have to be a little bit careful. >> how do you play it then such what's your best move in the equity market? >> well, i'm short of auto parts. they keep gaping lower.

i'm comfortable with that. there's a lot of trades that we have on. i'm spending more time actually trading currencies and gold against other currencies. the other only thing i'm aggressive long on is apple. i'm afraid of being that way. that's one of the positions where everybody has to show it on their book at the end of the quarter. i have a feeling that's a lot of what's going on right here. i'm long apple and concerned as we get toward the 30th of the month. >> dennis, it's joe. besides being a great trader, you're a great economist. is there anything can in order to the data points this week that bothers you? last week was rather confusing. >> it was very confusing. as we go into the monthly nonforeign payroll numbers, i'm concerned about the fact that the number of small companies creating new jobs is actually falling. so you're going to have troubles this month with the -- what do they call it, the birth/debt ratio in effect for the

nonforeign pay rolls number. i can move it 200,000 either way. i'm very concerned about what the unemployment number this week is going to be. here we have the end of the jewish holidays here. we have the end of the quarter, the end of the half year and nonforeign payrolls coming out, be careful. >> since the barrick announcement, does that scare you? we made that push up to 25,000, 30,000. does the price action concern you at all? >> it concerns me a lot. the fact that it couldn't push upward is very concerning. too many people are long on gold. they don't understand what they're long on gold is heavily short of the u.s. dollar. i've been buying gold in sterling times, buying gold in euro terms.

prying to hedge away the risk of the dollar involved. actually they can do that trade relatively easily. you can buy dlg and sell the british pound sterling and fxe. when you do that in equal dollar amounts, you make yourself long gold in sterling terms and long gold in euro terms. although gold is down $20 in terms of dollars, it's actually up over the course of the past two weeks in terms of the other currencies. >> dennis, we have to leave it there. thank you as always for your time. time for the "fast money" poll of the day. tonight, we ask you, will the dow hit 10,000 this week? a, yes. or, b, no. once again, a binary poll. >> mail-in poll. >> logon to fastmoney.cnbc.com. >> you can always vote c and writing some in.

>> or say it wasn't an exhilarating poll. we're looking for something else for you. >> a poll on a poll. >> i'm staying off the poll, that's it. >> enough poll talk. time for a trade. two big trades in the biotech. johnson & johnson takes an 18% stake in crissel. these would come as no surprise. he correctly predicted a buyout ahead. who is next on his radar? we are joaned by jeff. first of all, jeff, congratulation on that very good call. >> thanks, melissa. sthoo what is the next deal likely to happen, in your view? >> we're seeing a lot of good deals now. a lot of products have products that have just come to market. we think like companies like lexion, united thar putin i

objects, are the large cap names people are talking about. there are smaller companies that could easily get taken out. that's pocket change for a pharmaceutical company. >> are these plays that you recommend people start investing in? >> we had a lot of companies with an upside. again, a company named optima is one of the companies. those sort of things where you can get paid in two different ways make people feel a lot better. >> everyone has been talking about health care reform. i think the number is $1 billion from the inception of a drug to the marketplace it takes one of these companies to bring it forward. what is health care reform consist effect it's going to have? >> certainly health care reform has been a big overhang for the stocks. the biotech group has underperformed the market. people are really scared about health care perform. i think the drug group is pretty well positioned. especially companies that make new drugs. even if they're expensive, they're going to be in good

shape. you want to be in a good that's not developing a me too drug. if you invest in a portfolio, you'll probably be okay. >> arena and vivas and a couple of others working on an obesity drug. would you take a shot on arena at $4.50 or let it go until later in the year? >> i don't think you need it let it go but have three or four or five of these names. it's biotech, it's risky. any one can blow up and be risky on any particular day. >> becky quick was out sick today. is it a sucker's bet to buy gilead?

>> i don't think people really believe how big tamiflu is going to be. we'll be stockpiling it. that will be a big boost for gilead's earnings. that being said, it's not recurring. >> were you making any

implications about becky's health? >> no. i know she's watching right now. hope you're feeling better. >> next trade here, when the third quarter ends this wednesday, it may prove to be the best quarter since 1998 with so many winners to choose from. no mutual fund manager wants to be caught holding a loser. traders am spend the next couple of days piling up on hot stocks. what is known as window dressing. a phenomenon that usually occurs at the end of the quarter grasso, you're on the floor. what are you seeing? >> apple, ge. everyone is focused on ge capital. now they're focused on it being an industrial. they operate in over 200 countries, not that you guys would know that. >> but with factory utilization at 68%, they've worked on the solar and wind and power generation of their business has been horrible. now they've worked down those inventories. they'll get a big boost in the fourth quarter, i think, as demand for that, even just at a normal pace pushes prices up. >> people have been so focused on ge capital that they threw the baby out with the bath water. they're starting to see this stock has the ability to move higher from here. >> goldman sachs? >> goldman sachs is always the premiere financial group. i would think, john, you spoke about this before. it's the canary in the gold mine. it doesn't matter whether or not they are actually number one. people think they're number one. that's the case. >> what are they have selling? >> they are selling ibm. it's been a safe bet.

people use that it cash out their money. exxonmobil has probably done nothing but flat line. a lot of people want to pull their money out of that. and potash, which is very dangerous to wind up going short. that's not going to happen. >> i think the one mistake people are making when you're talking about selling is selling exxonmobil. look what it did last year into january. if you believe there is going to be market uncertainty, here's a great company with the best balance sheet basically in the world that has exposure to energy. i like exxonmobil. >> the problem with exxon is it trades with the market and not with oil. if you think there is going to be uncertainty in the middle east, the whole market will come in and take chevron and

exxonmobil. >> i think the mistake is buying a name already up 43 this quarter. >> i love when you do stuff like that. the trader hat. i'm so with you. coming up, nike's earnings and what to do with apple before they launch the iphone. we're talking about china. [ birds squawking ] [ moos ] [ man announcing ] if you think about it, this is what makes theladders different from other job search sites.

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welcome back to "fast money." we're live at the nasdaq market site in new york city's times square. let's take your position. the worth's largest athletic shoe market reporting earnings tomorrow afternoon. we're talking nike. many analysts are turning bullish. kate, great to have you with us. >> thanks for having me. >> you're one of the most bullish analysts on the street. what are you anticipating? >> we are anticipating it will meet expectations. we think the quarter will be fine. it's the futures number that everyone is holding their breath about. we're expecting 5% down futures, which is in line with last

quarter. if they meet that number, i think the stock will be fairly neutral. if they beat na number, the stock will be up tomorrow. i think there's a low chance of it being worse than that. >> global inventory down 3% year over year. there's are two things i'm looking at. are they important, inventory and gross margin? >> they are. inventory is more important. inventory has been worse in china. we're a year lap from the chinese olympics. we're hearing from chinese contacts that inventories are being worked through well. nike has been well positioned and not had the inventory build that some competitors had. they are still working through inventory. inventory should look better tomorrow. >> is it your understanding based on what you're seeing in china, the health of the chinese consumer or nike managing its inventory well? >> it's both. nike has to manage its inventory well. you don't want the brand to get

oversaturated. but it's also just about the brand. the chinese consumer is a very important consumer for nike. and the nike brand resonates very well. it's a sporting goods brands that is associated with basketball, which is the biggest sport in china. nike has the top three basketball players. they sponsored the top three basketball players that are the most popular in china. >> kate, i know the story in china. 48% of their sales. what are the sales trends domestically going to look like? >> domestically in the u.s., sales are still going to be down. what we have going for us in the u.s. is that average selling prices are still up. units are down. what nike has going for them is market share. if you look over the last 12 months, the industry has been down low but nike has been down

only slightly. the main reason is because of the market share they've been gaining against competitors. it averaged 300 basis points. >> thanks for your time. >> thank you. >> kate mcshane of citi. >> i think valuations are fair. i hate saying this, but you have to wait. the inventory number is going to be very important. if there is an inventory build, the stock will get wacked. it's hard for me to say. she thinks there will be an inventory draw, but we'll have to wait and see. >> the way to get your way through it is to sell those. they were up almost as much as the stock. the opportunity is if you own nike stock, which closed around 59 bucks, you can sell in the 60s and get 1.60 for it. gives you some down side, and have you another buck of upside, plus the $11. 0. i like that return on my money. >> if you're looking for a peak finish line, they're in no rush to build inventories. i think that might be a buy something for nike. >> historically they don't miss. >> let's take the position on

the iphone in china. they will release it to customers on wednesday. shares doubling already this year. is this new market already baked into apple's stock price? dr. jay, i know you've been working hard on this aspect of the apple story. what have you found? >> i went back and looked at another place that happens to sell billions and billions of things, because it says so right on their billboard. mcdonald's. ray crock when he bought his first mcdonald's franchise and started i believe in '54, he got that. it took him nine years, until 1963, until they sold a billion. apple, on the other hand, you look at them, own their ap store last year. they've already done 2 billion aps. and you didn't have to go out and grab a bunch of cars or a bunch of fish or chickens and serve them up.

in the ap store, apple has almost no cost in that ap store. that's just the beginning. more and more of these units that get sold, the more that people are going to be on the ap store. my daughter gets this in her hands, she downloads about six aps each night. you can imagine with every app with every devees that apple sells. in china, i think it's going to be huge. >> you know what's funny. i have one of those. >> you don't know how to work it. >> zero apps. no idea how to do it. zero idea. >> you don't know how to do anything on that phone. you barely know how to e-mail. >> if he wanted to, he could download a game. can you get a -- how old are you now, 38 years old? >> soon to be 46. >> get out of here. up close, no wrinkles at all. they make a whole new segment. a 40-year-old man being able to play games from their hand-held, from their phones.

where is that ever going to happen? apple created a new segment in gaming. that's why you've got to own apple. >> thinking about the carriers. china-unicom said they're going to sell it at $732 u.s. >> kudos to jimmy cramer. he's been all over this. >> coming up, cisco and merck. one of these was a drop and not a pop. we'll tell you which one was a loser. it was . mark, we have teams on both coasts that are interested. but milos only wants to play for dallas. milos really wants to play for brussels.

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time for today's edition of pops and drops. >> barcap, upgrade. i know joe doesn't it like it here. around 24, it appears to be breaking toward the upside. >> merck was popping 2% today, john. >> they'll be selling a flu treatment. this is going to be sold here in the u.s. it gives them great access to that market. the stock was up 2.5% on the

news. >> cbs was up approximate. >> they're doing a partnership with an online international news provider. they're getting richer, approaching 18 as the stock moves to 13. >> parker financial up 15%. >> they have a new advertising scheme showing people the benefits of if you don't die, how good things can be. i'll do the rerers of the reverse and buy it. >> the lions, not the animal. >> i know what it is. >> after 19 straight losses, detroit's football team has seen their luck turn around, beating the washington redskins. the last time they recorded a win was in 2007, the second-longest losing streak in nfl history. because the team failed to sell all their seats, the team was

blacked out in most local markets. >> the sports family should be not happy with themselves. it's a disgrace, the fact that it's blacked out. and jim schwartz, georgetown '89 head coach of the lions. >> big blue down 1%. >> notice i didn't mention the debbie downer at the beginning of the show but ibm was down. it scared me it traded below 150. >> starbucks up 4%. >> william player said that the cost inputs are going down. i would notice for you that the guys that make those eggs, that's something you can do without. nobody knows if you're eating that egg or not. that's something you know but not something that the regular folks out there know. they always know if you're holding that starbucks cup. that's why they're continuing to

sell starbucks. same store improving as well. >> street meat. >> what? >> who doesn't like street meat. >> i don't know what you're talking about. >> you know meat they serve on the street. vendors awards highlighted the best street vendors from the king of falafal to an austrian vendor, schnitzel and things. i don't know what kind of meat out there. no offense to the guy out there if you're watching. coming up next for one segment, "fast money" does the unthinkable, putting the red bulls down and giving you slow money, trades for the long run. you're watching "fast money" on cnbc. we are first in business worldwide.

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it was the week from hell for blue chips. an 18% slide marking the worst in the dow's history. exactly one year later, with stocks nearing the best quarter in years, a september that fooled everyone. is it time to consider the unthinkable? is buy and hold actually back?

the method espoused by some was busted last year. but as this resilient market claws back all of its losses, it might be time to get back to the table and bet on the -- >> slow money. >> while the high plays get the adrenaline flowing you can play it safe and give your nerves a rest for picks for the long haul. guy adami has been known to watch the tape like a hawk. when it comes to a slow money trade his market performer allows you to sit back and let it ride. ♪ >> take a break from the trading screen. guy is is bringing buy and hold back. all right, guys. >> slow money. i like that. >> qualcomm you're watching. >> slow money. >> paul jacobs, ceo, he knows how to speak to wall street. if you look at this stock,

the stock went from 32 to 52 from 2005 to 2006. trading in that band. 22% of qualcomm's chips are in every wireless device out there. if you like apple you have to love qualcomm. they, friends, have the market nailed in the wireless mobile device unit. chips. these guys do it, they make them all. the valuations are fair. i like qualcomm. i can't say it will go up tomorrow. went up today got a goldman upgrade. but the long-term, that slow money thing. >> very good. >> you like apple, you've got to like qualcomm. >> that was your slow money trade. final trade after this.

>> final trade. >> costco. >> raymond james. >> stay with the ford trade. >> pxp. >> i'm melissa lee. thanks so much for watching. see you tomorrow afternoon right here on cnbc. for more "fast money."