gains. the dow jones industrial average finishing at the highs of the day at a all time high of 15,460. volume picked up as well. s&p and the nasdaq higher today. s&p up 22. new high there. the nasdaq on a 13-year high of 57. have a great night. join me tonight for special coverage of the market all time high. "fast money" begins right now. >> aren't we call shiny happy people today because we are live from the nasdaq markets sight new york times square. i'm bryan sullivan melissa lee still on a beach somewhere. guy adami, tim seymour, michael khouw khouw. let's get to the bernanke bull

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

today. >> i'll throw that right back. if you had said the said is not credible right now i would have said there you go. what happened in the last 48 hours to me is an economy that needs the fed the fed send mixed signals and the market is inter twined. to say the fed is not a factor to me is actually -- i think that's crazy. >> call me crazy, just don't call me maybe. >> i think the fed ultimately put themselves in a position where they're saying we are not going to let this economy fail. >> tim, that's what they have been doing -- i didn't say the fed has been irrelevant. it's been the most relevant thing in the world for years. what i'm saying is -- and jump in. we know what they're going to do. so the bond market already had its move. they're not going to add another layer of qe. >> i agree. >> it's about what the stokt market is going to do. that's what is important. tomorrow sets up for one of the most interesting days we have

had i think over the last six to mine months. here we are at 1675 with an earshot of 1687 high on may 22. i'll say although i thought the highs were made for the year a few weeks ago, if we can close above 1690 we're gone again. >> so the question is are you a buyer of this bounce? >> i can't answer that. let me see what happens tomorrow. i thought we would fade today. i was wrong. but if tomorrow fades you don't fade the move lower. if it goes higher you don't move that either. >> the dollar is ultimately going higher and this is pushing it down. >> i got to say i was really surprised last night. something new today from last night when the market was up 11 handles maybe. i'm surprised at this. i agree with you, nothing really new today at all so this seems to me to be quite an overreaction. i buttonwouldn't buy this. >> voice of reason.

don't confuse the two ts. tapering tightening. bernanke last night talked about tightening. no one said the fed is going to tighten any time for years. we're talking about reducing tapering. did you get anything new out of it? >> not something new but i think he said what he said and i heard almost a month ago now and that was that he is going to be tapering at some point. now, point is not now. everybody tried to get ahead of this thing, brian. i said i bought the xlu on that big dip. i bought home builders again today. lennar, dhi. >> what is the best performing stock in the s&p 500 this week? dr horton. a home builder was the best performing stock. >> i bought them all. >> you're still buying it? >> they are still going higher. people that want to get ahead of bernanke and the fed here are dead wrong as far as at this

moment. will they be wrong forever? no. at some point they'll be right, just not right now. >> if the economy is so weak that the fed cannot step away and they're using the market to infuse confidence in the economy, that is a scary proposition and we are no different than we were on june 24th when everybody probably on this desk and came onto the show was telling you they thought the market was in a very difficult place. >> we got to move on. we got to move on. >> i said you buy with both hands. >> i will say this it's very early in earnings season but 65% of companies have beaten the street. so earnings so far better than expected. okay. it has been hard to keep buying as we go up. we can all agree on that. it got pretty heated on this desk before. take a listen. >> i'm a little annoyed by karen. you want to turn the tv on open up the financial press, you're going to have people telling you to buy every dip. >> if you had done that for four

years you would have done very well to buy the dip. >> karen, are you still buying the dips? >> this isn't a dip, so, no. on that day i was buying a dip. >> if we take a dip, go swimming down, would you be a buyer again? >> it depends what is a dip. a reversal of today's action at any time enough. it would need to be -- we have had quite a run in july. >> toshe was buying out the put, selling out the put protection that she had. the question is today after this move are you buying put protection again? >> not quite yet. the vix isn't where i want it. >> mike khouw, what's your take on this? >> we've got the market going up to record highs. it may not be to the lows that we saw before but it's actually pretty close. i think this is a good time to do it. exactly what karen was doing before. she was buying stocks when they did dip.

we are buying protection when it dips. i think that's the move here. >> exactly, mike. when they throw out the baby with the bath water. we talked about it at the end of june. we said gold for instance. but let's take those home builders. when you are talking about toll brothers at 30 bucks a share is it any wonder it's 35 today? they sold it down to 30. that's the screaming opportunity that karen talked about, the explosion in volatility that you got out of your defensive puts. that's why you sold. we said both you and i on that night, that sometimes the thing that feels like it's all wrong is what you have to do you did it kudos to you. >> maybe the dingo eight your taper. >> the fed's chairman's speech gave the investors the green light to jump into stocks. we saw that today. we are joined by the funder of a hedge fund. started his career with tiger

management. david's global macro fund have seen annual returns of 12% since inception. he's smarter than all of us. what did you make of ben bernanke last night? are you buying dips or equities? >> you have to buy the dip that you get out of market at this point. what bernanke did last night was important. he essentially said look you guys have misunderstood what i have been trying to communicate to you. a tapering is not going to happen as powerfully and quickly as we thought. >> what i'm confused about and we'll get into specific ideas is what we just talked about. we all know that nobody is going to raise interest rates for years until unemployment is 6 and a half. >> flation 2 and a half. why are we talking this big jump of joy because of a

clarification on paper? >> the market took significant tightening earlier. that got the fed upset based on our understanding of what was going on in washington. this was an opportunity for bernanke to walk back that tightening and he did and you got a response out of the market this morning. >> it's almost as if the market is diving him. ultimately i guess the question is does that mean that rates are range bound? where do you put this in the context of where you see rates. we've come back to just inside 255 which seems like a safe place to be. >> i think you learn a lot more about the front end of the market than the back end of the market. we know that the fed is probably not going to be tightening until the end of 2015 based on what they've told us. that gives you an opportunity to express a bullish view at this juncture. >> bullish on equities. >> on futures and equities as well.

>> bearish i assume on treasuries. >> i think the treasury market has had a pretty good selloff. we know it's going to be higher in yield looking out a year than now. >> how much higher? >> probably a 100 basis points. >> any of the weakens in the emerging markets give you concern for u.s. equities? >> i didn't say you should go out and buy with two hands in this kinds of environment. i think the market is in the zone of reasonable valuation. we have some modest earnings growth so you can expect the market to grind higher. so surge higher i don't think so. you got a blast of good news from bernanke yesterday, celebrated that today and we'll take it from there. >> so you look around the world and you had talked about japan the last time you were here. it had a volatile down move back up. what are your thoughts now, anything different? >> i'm still positive on japan.

they're in the early stage of a bull market. they had a traditional bull market correction. powerful bull market correction but a correction nonetheless and the market made up a fair bit of ground since then. they are stimulating with the monetary pipe full blast. >> fiscal pipe though? >> the fiscal pipe is turned on as well. i think we'll probably see positive surprises on the fiscal front rather than negative surprises. the big concern that got the market down was the third phase of abben only iks. it's too soon to say whether they will have structural reform. we're waiting for the election on the 21st of july. >> i love it when guests tell me i'm right. >> i didn't hear that. >> december 2nd of last year i predicted that japan would be the best performing developed stock market in the world. take out the venezuelas of the world. do you agree that japan will be

number one ameng markets, not these wild frontier markets? >> it's got a lead on the process so far. >> even with the downturn it's way up? >> that's right. you're talking about a market that when you look around the world you've got no growth in europe to speak of. minimal growth in the united states on an earning basis. in japan you're talking about 50 60% earnings growth a market on the forward pe of 14 and a half times earnings roughly. depends where you think the yen is going to be. this will determine the earnings. >> if you look at the volatility in japan and their bond markets, equity markets over the last month, month and a half, that is wild frontier. if you didn't know it was japan, you would say it was venezuela. >> ab nom iks may be the greatist fiscal and economic experiment of our time. got to hit some news right now to va layer row, the refining

company, the company is warning on second quarter earnings moments ago. you can see shares down five percent after hours. second quarter eps coming in between 91 cents and one dollar. they're saying 91 to i think a dollar, a dollar one. this is a sizable cut in earnings expectations for valero. everybody thinks the refining companies print money. they do not. their margins are narrow. >> they haven't taken care of themselves with contract futures. you're exactly right. >> they obviously have not given this. this move is extreme. they can play catchup but getting up there at $1.07. that's a big move. it's going to catch a lot of these refiners flat. >> they're buying it and they're getting squeezed.

you've got to watch tasoro down five percent. very similar company, also down. we'll keep watching that. still ahead, this guy, dr. j. not me that guy, he was on the right side of the gold trade -- him, take a listen to this. >> yes, i'm a taker on gold ond i've said it for weeks. >> so what's he doing now? should you be buying gold? he's here so we're going to ask him after the break. plus more from david gerstenhaber. his fund 12% analyzed returns since inception. we should all be so luck. you are because you're watching "fast money" on cnbc. they're not afraid to question the path they're on. beca use the one question they never want to ask is "how did i end up here?"

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every little click, call or donation adds up to something big. >> welcome back to "fast money." the market seeing a broad rally across the street today in terms of stocks both the dow and s&p closing at all time record highs which is redundant. some saw a bigger bernanke bounce than others. that's wild. if you are listening on the radio we have a picture of

bernanke on a po go stick. let's break it down sector by sector, the home builders rallying today. the fed chairman saying he's no-no hurry to raise rates. dr horton the best performing stock this week. i thought home builders were supposed to be doomed by higher mortgage rates. >> that's what you thought. dr. j. has done a great job with these. these stocks are hot. they're the $100 casino table. there's a better way to play it i think. look at lumber liquidators, the symbol is ll. the valuation is ridiculous. this stock pulled back off its all time high. you can see it rally in earnings next week. >> materials getting a boost today as well. if you listen to our own doctor you could have cashed in on the move. here's what he said.

>> i've been buying gold. i said at the ent of the quarter you're going to get a washout. you saw it break through 1200. i sold puts on the minors on the agq. >> as my co-host might say, do you still like the minor? >> i love them. in particular, the gld, it bottomed out at 114.68 or thereabout. that was a gift from all the folks that didn't have the stomach to hold that particular etf or gold physical or the security tiesed version of it. now it's ten points higher. you take a look at the agq. that's the shares of silver ultra etf. it was 15. now it's 18. these are huge percentage moves. at the look at the volatility of these contracts expressed by the gvz -- >> it had a nice run. are you sticking with it?

>> yes, i am. now in particular i think gold has just gotten back to fair value. we'll see what other rhetoric we get out of bernanke. >> where are you on gold? how do you assess the value? >> it was a washout from the weak hands at the end of the quarter that didn't want it on their sheets because they're quite frankly [ bleep ]. they ran for the hills. those are the guys that i feast on. when i see panic in the markets, it's easy to say, blood in the streets, buy them but it's tough to do. >> there are tough cats and we know that's what you are referring to. there are tough street cats that slice you up right? from materials to real estate the reits also flying high. karen, what's your trade on reits? >> uninvestable here. we saw them get crushed, not surprisingly. it has been in the flight for any kind of yield, reits was where everybody went and now

we've seen what can happen when you pull the punch bowl away. even the fundamental businesses are doing well balance sheets are way better than they were in 2008 we're in a totally different world but i think we've seen the fear in what can happen. >> we're going to hear more from david gerstenhaber if he's right. it makes the reits so much less attractive? >> yes. calling for higher yields further out. it's like a leveled bond. >> that was not an accidental mention of david gerstenhaber. joining us now. top trades david, tell us what you like right now. be specific as much as you can in the u.s. >> i think technology is attractive in the u.s. right now.

you've got decent growth decent valuation. the technology stocks if you want to by stocks. >> it's a big and broad space. >> it is. i am referring to some of the internet leaders for all intents and purposes google ebay, netflix i think are attractive stocks. >> even after their giant runs? >> that's a lot of liquid dye that is going to continue to chase after these stocks. >> it's an allocation call? >> big money can be put to work no question. >> what do you make of a name like ibm which has completely underperformed over the last month and a half, around 93 the last i looked. is that something that interests you. >> it's not something that p interests me. >> columbian bonds were on your buy list. how do you get comfortable with an emerging markets currency attached to that local bond. >> everything in the emerging markets has gotten pasted.

there is the baby that's been thrown out with the bath water. you're getting five and a half percent on three year paper in an incredibly well managed economy where they're not about to tighten. >> with the exception of chili, columbia has been great over the last five years. how do you buy columbian bonds? >> they're not extraordinarily liquid. >> your position accordingly. >> no question. so this isn't like trading t bills but it's liquid enough that you can get a position. >> we also noticed that you covered your gold shorts. >> correct. >> gold has had a nice pop, much more now. would you put the shorts back

on? >> if they squeeze it a little further. i think people still want to own stocks more than they want to own gold. we've seen the idea that there's no inflation in the system at this point. china is relatively weak compared to what people thought previously. the demand of gold has picked up but not enough to support the demand. >> going back to columbian bonds, you buy it for five and a half on three year paper. what do you hope to get out of a trade like that? >> i hope to get 100 basis points. rates have moved up substantially, a couple hundreds basis points. to get half of that back would be more than adequate compensation for taking the risk. >> one last question about akam. you talked about google and obviously they rely on streaming

media. would you look at a stock like that? >> not in my area of expertise. >> before we let you go you talked about liking tech not all of it but some of the big techs like google and ebay. anything else in this u.s. market? we are at record highs so nothing you buy now is going to be as cheap as it was six months, a year, two years ago. what do you like? >> the financials. you've got a steeper yield curve. >> big earnings out tomorrow morning, too. >> i understand that. look, you've got a steeper yield curve, the fed on hold. interest rates that have backed up so net interest margins should be improving, demand for capital improving as well. >> the short end of the curve as you said it's not really moving. does that really change where these guys are making money in the market right now. i hear you but the long end is where we see interest rarts go higher. >> correct. >> like tech financials are a big world. i'm thinking some of the banks, now that's also a big space,

talking about the big banks. >> i like jpmorgan high quality, reasonable valuation, hopefully no surprises in their upcoming earnings announcements. they have already taken the pain with their trading problems. >> how about bank america? >> i'm less interested in that to be honest with you. i think it will perform with the market but it's not as high quality to me. >> all right, some of the big money banks like the googles and the ebays of the world, you covered an gold and you like japan. did i sum it up? >> yes. >> market flash. news, josh lipton on the gap. what are you seeing? >> we are watching gap. after the bell reporting june sales saying june same store sales rise 7%. the street have been looking for 4.7%. it's higher in the after hours, up about 44% now so far this

year. guys, back to you. >> we've talked about gap on this show for a long time. it's been a monster performing every month. they seem to smoke the same store sales. each time the market seems to be surprised by it. we're getting towards levels we last saw in 99 or so which was 50 bucks. i think this stock has a shot to make 50 bucks and i like gps. >> if you follow the name for a long time you know it's a company with expectations disappointed. disappointed for a decade. it's finally broken out. do we believe that can last long term? >> i don't know but i'll tell you this. over the last ten to 12 months they have crushed. to me that's a trend that doesn't seem to want to stop. i think you'll know it when it stops. >> 97 to 99 it was$99 it was a $50

stock. >> that's not a trend i like. >> they used to have mick i drexler who many consider the smartest man in retail. >> this new team is running it like it should be. >> still ahead. both jpmorgan chase and wells far go getting set to report their second quarter earnings tomorrow. what can you expect? we'll give you a preview of big banks which you heard david gerstenhaber say he likes. can shares of taco bell kentucky fried chicken, get investors licking their chops again. we have a street fight on yum brands. still, burritos are delicious.

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♪ >> amazon top of the tape today hitting all time highs around crossing the 300 buck per share market. the stock rallied 20% this year. but, guy adami, does it have more room to run? >> yes, yes. >> why do you say that definitively. >> we said in a vacuum that's a great question. >> they sell vacuums. >> this is the second most emotional stock out there, apple being the first. you say you like amazon. people say look at the valuation. it's nuts but look at their markets continue to move. as long as those margins continue to improve which they have amazon goes higher. >> next the big trade on the big banks. in fact two banks to be exact, because tomorrow morning should be huge. jpmorgan chase and wells far go

set to report their second quarter earnings tomorrow morning before the bell. we have more on what we can expect. >> brian, with the second quarter and the bond market earning season for the bank sector brings a few questions. the first to what extent mortgage origination dried up. it was a previously a bright spot but the first quarter showed growth. there was a sharp dropoff in mortgage applications in the second quarter. they fell 23% as rising interest rates and banks only have a few options to recover that income. jpmorgan also underwrites mortgages but its invest bank could overshadow some of those issues. some change in the value of investment bank positions could end the income statement but overall analysts expect jpmorgan to benefit as money manager rush to hedge the if you had.

they doubled the previous highest ever value. it's big business for the banks like jpmorgan. final question whether these earnings will be enough to justify some of the rich valuation for bank stocks the bkx indox is broadly outpacing the s&p. wells far go 93 cents on $21 billion in revenue. both of those are drops. we'll break it down tomorrow. jpmorgan ceo jamie dimon on squawk on the street and tim sloane as well. we'll send it back to you. >> in fact those earnings are going to break on squad box tomorrow morning which by the way will be co-hosted by me. michael khouw, you got a view -- i'm looking up at your nest here. you got a view on that?

>> both of them were busy ahead of tomorrow's mornings earnings. jpmorgan was particularly busy. the july calls the ones that expire tomorrow and a week from tomorrow were the most active options, both trading over 10,000 contracts. people who were buying these options were betting one percent over the stock price that the rally will continue. the impliesed move on jpmorgan is typically two and a half percent and that's about where the options were pricing in. for those who want to press long they might look at buying puts. >> two and a half percent. >> on jpmorgan they benefit more from the move again in the short end of the curve. i'm not worried about the overall move for rates for them. >> is steve's microsoft plan the answer that investors have been looking for? the stocks been on a good run, yes, but will they take it to

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lee. both the dow jones industrial average and the s&p closed at record highs today. topping the tape were the coal stocks. pea body walter energy all logging good gains today. these things have been absolute dogs tim seymour. short covering bounce or what? >> there's no question that the bernanke move is something that reaffirmed to people that even though there is not necessarily going to be an asset run this is not a bad place to be. they're up 15 of 18 days so commodities were overdone and in terms of positioning where can guys go and where are they rotating and it doesn't necessarily matter. the balance sheet is okay you go with it. >> how much of this do you believe is that natural gas has gone higher? >> and energy as well. >> that's what is going on in europe. they're going for coal.

>> cat moved to 87 bucks a share in the last ten days. joy global a four percent move. these were like jim said they were hurting the shores. >> before we get to microsoft can i reiterate, we showed our heat map on our giant wall. i think it was 4 98 of the s&p 500 were up. i understand bernanke to me the market today smacked of so much short covering people just cleaning house. >> cat made that move over ten days. >> a lot of these names, these coal dogs -- anyway. next up tech leading the rally on the street. the shakeup at microsoft big news. so is this new one microsoft as steve ballmer is calling it joining us now, colin, microsoft had one of its best

decade. is this going to make it better? i didn't understand it. >> we're going to get simpler. >> you go from being a business focused company to a product focused company. you only make broad sweeping changes if something is significantly wrong. we have had five executive quarters of pc declines. it's the longst decline in pc history. they are losing to tablets and mobile an area where they are weak and that's why they're making the changes. >> by the way microsoft is in tablets and mobile. we often forget that. they're not even on the radar when it comes to market share. have we heard anything about the surface tablet? it seems so quiet. it's got my nervous. >> impact, the june quarter is usually one of the strongest because of fiscal year end. expectations for march quarter were low.

i would be nervous about what this does to the company because it's going to be a major distraction for several months. >> one of the things they talked about is getting into the cloud. that's one of the things that i hear that's out there. >> they are. >> but the cloud is also a space that could easily be at some point kmod tiesed. >> amazon slashed their prices on their cloud. >> first off, there is no cloud. i hate that term. everything is on the cloud. that's just computing now. that's just what computing is. >> as it continues to evolve microsoft is going to be facing an uphill battle. >> the one thing i'll say about microsoft. it's boring if you look at their enterprise server business that's killing it, doing rate really well. we don't talk about it because we don't understand it. >> it's not why the company is

not going to fall off the clip. i do think it's going to fall back to my $31 price target and i'll start to look at it again. >> one of the things people were hoping for was a glimpse of maybe a change at the top. >> i also think when the value investors stepped in with the $2 billion purchase people said this is an activist shareholder, that we can possibly break this company apart and unlock the value. the changes that come from this reorganization make that difficult. anybody in the camp of let's break it apart into different companies and unlock that value, that's pretty much over and the power is consolidated up to the ceo level. >> you know what caught my eye in that memo besides the corporate buzz words and double speak, at the end it said craig mundy will be working on a basically secret project with steve ballmer. >> threw that in the end.

>> still selling calls against it. it's up 30% from the call at goldman sachs to get out of it. >> back off. >> we liked this in august again for selling the august 36 calls against it. i love this one. >> guys we got to go there. we're going to move on. i don't know how melissa does it. there's the synopsis. people can read it. if you are on the radio you're out of luck. the market is closing at record highs. we're going to go a little hold 'em and fold 'em, apparently a game you guys play. with the traders coming up right after the break. and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. 8 so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade.

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a waiting room is just a room. [ static warbles ] >> fresh record closing highs from the markets just for you today, america. sometimes it is tough to buy the losers and sell the winners. let's play a game that they have invented called hold 'em or fold 'em with four stocks soaring to record highs. it's got to be a stock that you own. first up tjx rallied 23% this year. karen hold it or fold it. >> this name even though it's a

little bit expensive and i like value they've done a fantastic job with their business. i would say hold 'em. >> if karen says hold 'em, that's effectively means buy. >> because you buy your portfolio. >> that's a trade school. >> i'm going to go to ac with all you guys and clean house. lock heed martin investors flock to this company, but as treasuries go up that dividend looks a lot less attractive. hold it or fold it. >> i hold this one for sure. if you can do this kind of performance in a sequester, this is a defense stock -- >> wait a minute. i thought the sequester was going to bankrupt all the defense companies. >> you and i didn't say that. the sequester meant we were flat, not that there was no money to spend at all. lock heed martin is going to continue to do well. hold this one. >> soy burgers and $50 hand

lotion made from ail low is apparently a hot seller. whole foods market shares soaring more than 20% this year. tim, i know you're big on that stuff. you are a very supple man. >> 38 times pe multiple is not acceptable. for a company that is not necessarily growing margins it's showing 15 to 20% growth. this has been a remarkable story that i will sell here i won't short. >> folding it. >> the big fold. >> you're going to get run down by 72 librarians and a preus. >> western digital. the company announces two acquisitions to expand it's storage. >> look at sea gait and western dij. given the move they have had you can't shoot against them on valuation. i say fold 'em there, big stud.

>> thank you by the way for that. we just talked about only when it's thrown down in a basket when i'm in a well. that's interesting, too, because five executive quarters of pc sales decline and yet the hard drives stocks are do this. >> explain that one to me. >> i can't. i'm just a tv anchor. coming up on the next hour of "mad money" cramer is talking to the ceo of trius. that stock is doubled the year. plus the best ipos and kramer's out look. a lot coming up in the next remaining ten minutes. coming up. i'm not very good at this. guy adami, we're checking out a bearish call you made that has seen big gains since then and we're going to hammer you with location when we come back. [ thunder rumbles ] ♪ ♪ [ male

announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ ♪ all on thinkorswim. from td ameritrade. it starts with little things. tiny changes in the brain. little things anyone can do. it steals your memories. your independence. ensures support a breakthrough. and sooner than you'd like. sooner than you'd think. you die from alzheimer's disease. we cure alzheimer's disease. every little click, call or donation adds up to something big.

>> look at that. tonight the special, pulling out the heavy it hitters for the special tonight. maria and bill markets at an all time high at 7:00 p.m.

they are kinds of great guests analysts, is it done more to go why are we up so much. it's going to be terrific. tune in 7:00 p.m. tonight. not so fast guy adami. our traders are quick but not always right. last month guy made a bearish call on restoration hardware. take a listen. >> unless the tape cooperates and at this level we don't know if it is. it's going to take a lot more to get rh down. >> the stock is up about 20% though pulling a bit back today. guy, are you still a bear? >> 40 times forward earnings you can't be bullish. the only thing that makes you bullish is the short interest. let price be your guide today going forward. >> how do they afford it with the 17 catalogs they send. i bought stuff for my daughter and it almost took me to the poor house. >> you tweet it we trade it. let's get to your tweets to our crew today. tim, taiwan semiconductor

manufacturing, does it still have room to go? >> i think we talk about apple and the component makers. this to me i would be under pressure. i don't think the valuation is compelling even though emerging markets is over sold. this is a conduits. watch it. >> if you had 1,000 bucks to invest what would you do? >> i would own a big cap mutual fund or something like that. got to have some een. >> i would own that book. put it in a time capsule and it's going to be worth a lot. >> and a little bit of google. >> all right. john, what is the gold play with earnings potential fed tapering and everything else? >> specifically they were looking at leverage dtfs like

nugget and dust. i love leverage dtfs but both moved at 22% today. keep in mind that they reset daily. you've got to reset options or get out on a daily basis. it will not track it over a long period of time. >> we're going to take a quick break. when we come back your first move for tomorrow today. it's time travel on "fast money." stick around.

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their wealth, one whose insights solutions and approach have been relied on for over 200 years. that's the value of trusted connections. that's u.s. trust. >> breaking news now on radio shack. earlier today there was a story that that hired banks potentially exploring alternatives like bankruptcy. we have a quote. radio shack continues to have a strong balance sheet with a total liquidity of 820 million dollar. we have discussions with banks to help us valuate ways to further valuate. they're saying yes, we hire investment banks. interest from rh. that stock took a huge tumble. >> brazil has bottomed here.

>> google. >> tibx. >> we have 13 seconds left in the show. milk it. >> what's your next cnbc >> i've got talking numbers. >> my mission is simple to make you money. i promise to help you find it. >> hey, i'm cramer. want to make friends just trying to make a little money. so call me. what do you