tapering. look at the day on wall street today. the market was higher. in fact we're looking at gains across the board but still expected to show a down week because we have had three days of selling. today the do you up 27 points nasdaq up 15 and the s&p 500 up about 6.5. i'll see you tomorrow. "fast money" begins right now. have a great night, everyone. live from the nasdaq market site in new york city's times square i'm melissa lee. your traders tonight are guy adami, karen finer man. mike khouw and an empty seat which we hope will be filled shortly by brian kelly. tonight you have a contrarian trade edition of "fast money" to jcpenney european rate estate and defense stocks. our guests are going against some of those cuts.

to our top story and that is the retail wreckage. this week has been a buzz kill for most retailers. on the heels of the holiday shopping season how are you trading this? >> it's been tough across the board. i like the bigger names like macy's. i don't generally love teen retail because it is so fashion specific and the multiples are higher so if you do miss you have more risk there. we've been buying macy's. we bought more foot locker. the only thing i don't like about foot locker would be the idea of ken hicks interviewing for the jcpenney job. i like them both. >> do you think there is market share to be taken because of jcpenney's troubles? >> probably but i think the lion's share of the change has probably happened already. >> i think it's interesting we had this retail season kick off with coach last week and it was dis pointing. the stock got hit very hard. this is one area that was

restrained. when you talked about global growth earlier in the area selling in asia we're doing poorly. the stock had come back and they had another disappointment. to me that was one of the first retailers we've seen. it's interesting though. the xly is one percent from the all-time high. for some reason people are still piling into this space and looking at this as company specific. >> i guess you could say for most sectors but all retailers are not created equal. we try to give you the names that sort of work. you saw with american eagle and on the other side you saw with a name like michael kors. there is a stock that continues to perform. it's very hard to get on the back of it now. i'd like to see what dana tellsy has to say. it's been im pefr yus to tapes.

gap just came out with comps that were disappointing but the stock is not selling after in the after market. that will be worth watching. the best way to play retail in some ways protect yourself and it's panned out is to be long master card or visa. regardless of what you think of the consumer the world is changing to benefit them. >> mike khouw you're looking at express and l brands formerly limited brands which owns victoria's secret and bath and body works. that stock hit a 52-week high and sold off today. >> express got hit and actually some people were pressing their bearish bets. we saw more put buying than anything else. araeo pos stall there was call buying in that name. what's interesting to me in these environments it seems like using options is a good way to make these puts. the premiums are so low. we continue to see the market pretty strong, that keeps the

options premiums low and people are taking advantage of it. >> we have breaking news. let's go to headquarters for the latest. >> reporter: chairman of the board of directors of jcpenney responding to the public disclosure of a letter from the board of directors from william actman. the company they say has made significant progress since mike ailman returned as ceo. since then mike has led significant actions to correct the errors of previous management and to return the company to sustainable, profitable growth. they go onto to say mike is the right person to rebuild jcpenney by stabilizing its operations restoring confidence among venders and getting customers back in our stores. finally they conclude the board of directors strongly disagrees with mr. actman and is disappointed that his letter was released to the media at the same time it was sent to the board. >> karen, we should go to you.

you actually put a trade on jcpenney while most people or while the stock was soaring in today's session on the back of this news that perhaps actman is pressing for a more rapid ceo search. you actually thought this was bad news. >> i didn't see why that was positive for a few reasons. one, if things are going okay you would think what is the urgency. that was one. the second was the very unusual dynamic of him sending a public letter to the board. this is normally something that wouldn't be in that for mat. it would be a discussion among the board members. so what is going on that is causing this rift at the board level. then it sort of has to make you wonder what is actman's longer term plan. he is the largest shareholder, however he doesn't control the board. this is a very odd situation. this letter coming out tonight i think is sort of a positive for the stock that they're somewhat

optimistic of him but it certainly makes the job of hiring a ceo a difficult one. if you were considering this job and you had this public back and forth among the then you really -- you got to really think twice about whether this is a situation you want to jump in. forget about the operational difficulties. also i don't like the idea of changing the ceo at a critical time in the year. when ailman started, very difficult jockb for him but it was a little earlier in the year. if they do this in the time frame, it seems unlike lick. >> >> that's a very difficult time to change horses. especially a company that's gone through unbelievably large changes. i didn't get why the market thought that was a good thing. >> when you think about what happened in the last ten trading

days, the cds on the company has blown out 300 basis points. the options activity people were making end of day type trades, buying ten puts -- the ten put line in january and february have been active. there was a buyer of ten puts in november. then you had the stock's 22.5 percent decline. they talked about their cash burn. they burned a billion dollars in the last three months. these are significant liquidity concerns at a time when they're having these rumors about vending financing. in some ways actman must have discussed this with his other board members and they are pushing back and they want to stay the course. he's got this weird positioning in jcpenney and then he's got the herbal life the other way the other potentially asymmetric short. >> they have this term loan i think that was part of it so that gives them a bit of a life

line. that was obviously one of the huge concerns. first of all, i thought this stock was a buy last week i was wrong. same price but it obviously dipped a buck from here t in terms of stock companies can go broke and stock can go higher. you saw it with blackberry. that's probably in my opinion that's what's going to happen to jcpenney r it's tough to be short this name. puts are probably through the roof expensive or the borrow in jcpenney might be through the roof or you can get your face absolutely ripped off. we've seen 100 stocks that happened to. >> the contrarian trade that we are highlighting is that today as the stock was going up you were shorting the stock which is unraveling part of those gains today. >> it reminded me of when ron johnson was kicked out the stock traded up and then very shortly, a number of days after that traded down because things must have been really horrible to

fire him and, in fact things were really horrible. i think now with this board coming out, this is a very dicey situation. >> let's bring in dana tellsy of tellsy advisory group with the outlook for back to school. great to see you. >> thank you. >> what do you make of this back and forth, this mess that jcpenney has become? >> it's become the retail soap opera in media. if you look on the store shopping floors where is the traffic? retail overall is going through a dearth of traffic and so is jcpenney. it's been a tough may, june and july. results probably won't be very good in the second quarter but they've got the cash to see them through and bringing mike ailman back you need the stabilization, saint john's bay. you need what the customer is familiar with to stabilize the business. >> let's say this weren't the period in which we're going into the holiday shopping period. would you say he's the stability

that they need or would you be pushing up right into the holiday shopping season? >> you brought him in and can't basically say good-bye less than 90 days or so since he's been there. it always was the game plan bring in someone knew maybe 15 or 18 months down the line but get the business on solid footing first. >> let's hit some of the other retailers out there. we have a lot of dis appointments particularly out of the teen retail sector. >> over all there is only one company that hasn't preannounced early and that's ash krom buy and fich. it easily could be that they make their guidance which is still for down comps but when you have bottoms not working, shorts not working, off prices taking share and like karen said macy's working it's a tough time for back to school because share

is shifting. >> let me ask you who do you think is really getting it wrong? we've seen a couple but of those who haven't announced yet? >> i think overall you're still seeing companies, for example, like zoomies and pacific sun wear. let's see what their numbers are. they've brought more fashion component. will that work. you're still seeing a lot of markdowns coming at hot topic which just went private and wet seal and charlotte ruse is picking up because they have faster inventory turns in there. arrow continues to be weak. some of the women's retailers are also having a tough time like chico's started off the quarter week. i don't think it got much better. >> urban outfitters i know a name you talked about, the last quarter was a mixed bag. they missed on revenues. margins seemed to be improving. stocks had a decent run. what do you think of them? >> high single digit comps is what they talked about in mid

june. i like urban going into the quarter and i like it going into the back half of the year. >> great to see you. thanks for your time. before we head to break let's check on some of the after hours movers. gap falling. second quarter earnings guidance came in better than expected. molly corps plunges on disappointing earnings the company reported bigger than expected loss. coming up next our resident bear-nado carter braxton worth. >> we're back to highs which begs the question is it better or worse. the correction and the quick recovery really makes it worse. >> we're taking it to the next level and this time he's looking at one sector hitting fresh all-time highs that he says may have gone too far too fast. from coupons to electric cars a

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beverage. >> falling sharply after reporting second quarter results. earnings coming in at 62 cents. two cents light on revenue of $73 million. the company hurt by a stronger dollar and legal costs related to its monster energy drinks. last week the ceo appearing to talk about the marketing of these energy drinks to kids along with representatives from some of the other energy drink makers. >> let's trade this thing. look what the cat dragged in. welcome to the show b.k. glad you can make it. >> for all your seinfeld fans out there nobody can beat the ban wick. let's get to monster beverage. trading down 61ish in after hours. these legal issues aren't going to go away. it's trading at the 50 day moving average. there is a lot of headline risk in this name. >> let's get back to our

contrarian theme. the aerospace index hitting highs. it's outperforming the broader s&p by 12 percent. has it gone too far too fast. let's go to carter braxton worth. every day you walk in and it seems like there's a new high. >> yes. there's no such thing as a small defense cap. united technologies boeing. we have a one year chart. this is a one year basis and you're almost doubling the performance of the s&p 20 versus 40 for the group. the long term chart, it's getting more accentuated. going back something in the order of ten to 15 years, what you see is that we had a huge overshoot and they peaked in 07. to speak of the order magnitude let's look at the group itself

in relation to trend. right now we are exactly 17 percent above the average. that's happened 14 times, only 14. that's maybe once every year and a half in the last 25 years. the returns for this industry group on a 1, 2, and 3 month basis are invariably negative withdrawdowns up to 12 to 15 percent. you have a little upside so i have plotted in each time it was this far above and you get almost nothing. >> that's carter braxton worth, the fact that he thinks the broader market is going to take a breather here. if you look at lock heed's last quarter they smoked and raised guidance. to me as long as the tape stays doing what we're doing these stocks can outperform. there will be a day of reckoning. i don't think we're there yet. >> just as the utilities are up

and the reits are up it's a yield trade. these are very high yielding trades. that's how they get crowded and then of course they come to an end. >> here's lock heed. >> this is as far above as it's been at any time in four or five years. this stock again is up on the order of almost 40 percent on a one year basis. and the same picture for the other ones. the principles are the same here. if you get into mean reversion how far above or below can you be before you throw back or snap back. first of all if you are long only and you have some big gains you've got to take measures. if you have the fortitude this is a good thing to be sell. >> sell defense in general, lock heed martin and north rupp. >> tesla continues to accelerate

to the upside and remains one of the hottest stocks on twitter this year. they beat on the top and the bottom lines and delivered far more cars than analysts expected. dan, what's the trade? >> this is defying gravity here and it's not just the stock up 350 percent of the year. it's the story. it keeps getting better and supplying just a whole bunch of fuel -- no pun intended there, just to kill the shorts here. when you think about this story, to me it's getting a little difficult to justify being in the mania on the long side. the company has an $18 billion market cap and expected $2 billion of sales. put that in perspective. gm has a 50$50 million market cap. it's going to run out of steam. you got to buy on a pull back. >> groupon up 22 percent today alone and seeing best gains since its ipo in november of 2011 beating on revenue

expectations and naming its co-founder and interim executive as ceo. >> this company was left for dead a while back. you had five analysts raise their estimates today. it feels like now -- granted i would typically not say go racing into a stock that's up as much as as it is today but it feels like they have runway to potentially go higher. the trade is a lot more difficult now. you have a lot of people slapping $13 price tags on it. as long as the tape stays okay it's going to be very hard to short groupon here. >> freeport also getting attention on twitter. popping as copper gets a boost. reaching 8 week highs. >> anything facing china, anything that has to do with china was really priced for armageddon. any positive news got these stocks going. but the thing that i'd be worried about here is nobody believes the china data but all of a sudden today they believe the china data. i'm not sure tomorrow morning

i'd be going in and buying it because it's up already from 28 or so from the beginning of the month. it's a name that i would be taking profits off. >> coming up next we're talking all things old technology. ibm falling to lowest levels of the year. could this be the move to make you buy it. plus an old name tech some brand new options activity and after hours action on price line beating on both the top and the bottom lines. in today's markets a lot can happen in a second. with fidelity's guaranteed one-second trade execution

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significant progress since he's been installed to the top at jcpenney. we're seeing the stock down almost three percent. karen shorted that big pop that we saw an news that ackman sent a letter to the board and released it publicly at the same time saying we need another ceo and it's got to happen in the next 30 to 45 days. >> i just read the board's response and a couple things jumped out at me. they said you've been on this board for two and a half years and why are we just hearing that. remember, you were involved in the hiring of the last guy. it's getting a little nasty. i didn't see the board say if there was anyone else in the camp of ackman. so it might just be him against the rest of the board. i don't know. >> do you think that the earnings are going to be -- you thought that ackman knew something about the earnings that that would be terrible and that's why he was making this move right now. now that the board is sticking by, does that make you now think that the earnings will actually be maybe better than what people were expecting? >> i'm not sure. i don't know.

i think that one sentence about him supporting allman in the job that he's doing is good but this situation as i said to try to get a new ceo in here with the board going through this is very difficult. >> you put that short out today? >> yes. >> are you in the terminal camp because a lot of options players are playing for a low single digit stock. >> i'm not in that. there is so much that could happen between now and then. as guy mentioned earlier that refi they did was gigantic. that got that done in the nick of time. we've seen the bonds trading down a lot of usually that's not a good thing. i'm not expecting a zero here. >> let's get to another after hours mover here. priceline simon hobs is monitoring the situation. >> priceline beat on both the earnings per share and on the top line. the conference call is this question of margins. they're saying the margins will fall for a fourth executive quarter but rather than the 400 basis points decline that we had

last time it's only going to be -- only going to be 250 basis points and the ceo depreciate fient on that. they will continue to invest in technology and advertising in an tech to take market share. he said they have high margins and it's an advantage they haven't squander. >> dan what's the trade here? >> this is a growth stock that they're talking about declining margins for four quarterers in a row. it's all-time highs, up over 100 percent in the last year. it's as good as it gets here. i would not initiate new positions but they are winning the online trade game. >> turning to old technology ibm falling to its lowest level of the year. the stock on a steady decline over the last three months down more than 7.5%. should you buy the dip in big blue. time for a good old fashioned street fight. karen is the bull guy at bear.

90 seconds total to make the case. karen, kick it off. >> ibm is obviously a name that everybody knows and i look at it with valuation first. that's what's most appealing to me here. it's cheap, not just to the market or the tech sector but cheap to itself. that means it's cheap relative to it's on historical multiple. with the business it was a little disappointing on earnings but the service businesses great of the the backlog was high. europe which is a meaningful part of the business here is starting to turn around a little bit. all of those are enough of a positive for me to say this stock at this level is too cheap. it's an excellent risk reward. >> she's coming at it at the value but i'm going to come at it at the trading. they were a leader for the last year and a half on the way up and led the broader market as we traded north of 200. for the last couple of months it's underperformed. as mel pointed out here's a stock trading down 52 week lows.

the quarter before last was an absolute disaster and got backed up with the last quarter back in july that was okay but not great and the stock is traded in kind. so the bull case for ibm for me has been their clarity. the last two quarterers are showing you maybe they don't have the clarity they have which is why they had the premium valuation. they're coming back to more reasonable levels now. stocks ounces overshoot to the upside and down side as well which we can see if the tape corporates trading down to the 170s here. >> beaker? >> unfortunately -- not unfortunately, fortunately i'm going to have to go with guy and here's the reason why. they are furloughing their workers in their hardware area. we know thaefdey have had a lot of problems. generally speaking i'm not going to want to be in a stock that's doing things like that. if you look at the chart it

looks like it's about to break to me. >> dan? >> for anybody who would commit a dollar to ibm i would tell you to put it in apple because it has a lot of similar circumstances. they have a better balance sheet, a higher dividend yield. they are more in control of their future. i'm not with karen. i'm with guy. >> two guys on the desk siding with the bear camp. >> that wasn't the question though. would you put money into apple over ibm? >> you ticked off a bunch of bullish reasons and all of them are better for apple. >> we want to know who you thought won the street fight -- >> we know who you thought won. >> tweet us using hashtag bull for karen or hashtag bear for guy. let's stick with tech. heavy call activity in microsoft here. mike khouw we saw the ever core upgrade to an overweight.

what did you see here? >> this is actually the second day of very heavy call buying in microsoft. the september 35s and almost 200,000 of those that would represent 20 million shares trading at relatively inexpensive 15 cents, a very cheap way to make a bullish bet and if i was going to make a bullish bet in microsoft or ibm, two names where the growth has essentially stopped i'd take advantage of where the options are cheap but that's the only way i would be inclined to do it. obviously some large institutional investor agrees with that because that's what they're doing. >> after the break why one wall street watcher says she's betting big on distressed real estate and a look at some of the biggest movers and shakers in towed's session next. ♪ ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ ♪

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>> welcome back to "fast money" live in new york city's times square. let's get another market flash from jackie deangelis watching lion's gate. >> reporting a fiscal first

quart profit it was a two penny beat on revenue of 569 million better than expectations. more reinforcement the fans are watching their favorites like twilight. the profit compared to a loss of 33 cents a year ago. we're watching those shares in after hours. >> i know you love the vampire series. >> i don't even know what that means, the vampire series. >> twilight. >> oh, i love vampires. >> i just said that! >> hopefully you've watched the show long enough where you've been in it since the teens. tomorrow is not the day to go racing into lion's gate. hopefully you've seen the theme attic. >> switching gears here asset management and private equity

giant black stone making big bets on contrarian plays. it's not just distressed real estate but real estate in europe. so what kinds of properties are you looking at? >> we are cautious on economies in europe but if you look at asset pricing, huge discounts to replacement value, banks are starting to sell. if you think about corporate m and a being incredibly slow that's not the case in real estate. we're looking at transactions in europe. we look at hotels offices, multi-family, really asset by as et. >> i've been reading lately that spain has started to unload assets and we all know spain has been terrible. do you feel like this is the bottom there? is that going to be a focus of your real estate buying? >> spain is absolutely one of the areas we're looking at. if you think about what banks own, what they need to sell,

marks coming down things have moved. prices are much much lower. if you can take a four or five-year view improve the assets we're very much buy it fix it sell it mode. spain is interesting. >> what potentially is the munky wrench in this whole thing in europe? i'm sure there are bogeys that we haven't talked about. what do you see on the horizon in terms of what could go wrong in terms of this thesis? >> there is always something that could go wrong. at the pricing that we're at now, the basis is so low and real estate is the kind of asset that if you don't have it in an overleveraged situation, you can hold. we're not going into real estate development. it's all about supply and demand. at the moment you haven't had any building over a pro tracted period of time so supply is much less than it was. there aren't a lot of buyers with capital to move.

we're the premiere name in this type of purchasing so we're seeing everything i would say. there are assets today that are of real value that maybe 12 months ago wouldn't have felt as good. >> so you like europe at this point. what are your thoughts on u.s. real estate? we've gotten news of exits, hilton as well as bricks more. is that a statement on where blacksman think the u.s. market is now that things are fully valued and now it's time to get out of those assets. >> we're buy it fix it, sell it so we're always looking to exit. we have talked about the market should expect realizations to accelerate. we're not calling a top but at the same time we're still investing. we just bought motel 6, we bought a hotel in waikiki so we continue to invest in lodging. we're not calling a top. these are assets we bought several years ago, they're

stabilized now. this is the type of asset that a core buyer, that the public markets are looking for. >> thanks for stopping by. time for pops and drops, the big movers persistent session. pop for u.s. steel up five percent. >> like bk said before this is the china trade. you saw that better than expected data. i think china is 45% of iron demand globally here. >> pop for new mont mining. >> let me say, you trade it down to a level that you are basically putting the same low as 2009 with the risk reward parameters of 26 27 you can trade from the long side but know what you are getting into it. >> pop for 5th and pacific karen? >> it's really kate spade that's driving it. those numbers were gigantic similar to michael kors. >> pop for orbits worldwide, 37%.

>> all these names, all these travel related names, really got hit when expedia missed their numbers and were down. you have ten percent at one point or as of yesterday ten percent of the flow was short. i'm sure a lot of that was covered today. if you are in the name be happy you got 38 percent. >> pop for the singing dog. >> what? >> the singing dog. daft punks breakout hit get lucky has proven be the top hit of the summer and one pooch apparently can't get enough. ♪ ♪ >> the krooning canine is now making the rounds online but the original music video has racked up more than 100 million hits. >> that sounds like cruelty of animals. that dog is in distress. >> he looks like he's happy. >> that's a happy dog?

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>> time to hit our brand new executive edge segment for this evening, a rapid fire recap of the best moments on cnbc just in case you missed them. >> i'm glad that they're bringing in electric cars to market. that's cool. i think there is room to improve on the i 3 and i hope they do. my moments -- sorry. >> adam hang on a second. you're saying that right now you're more bullish than most of the street? >> i think that my rhetoric is pretty bullish and we've been arguing -- >> what do you mean your rhetoric is bullish.

shouldn't you be raising your price market? >> we're saying we think the chance of the bull case is higher. >> i have a letter in my hand here that bill ackman has sent to the board of jcpenney. here is the items. jcpenney has initiated a search for a new ceo to replace interim ceo mike allman. your level of confidence that this can be turned around? >> every day that it goes on it gets more and more difficult to see how this is possible. >> if the dow were down from 15,000 to 300, would that be the excuse to take out tens and 20s and $30 billion dollars. they would say use it as a buying opportunity. >> b.k., what do you like? >> of all of those the tesla was

fairly good. we have air debate about tesla all the time. i think the problem you have with tesla is it has so much momentum and everybody says about the fundamentals and they don't add up at this point but it's not that type of stock. now, it was up a lot today. i know dan has loved this name. i personally would be taking profits. >> it's an amazing story. here's a guy who puts his mow where his mouth is. he's laughing at bmw's efforts. that guy used his own money so he's earned the right to laugh it off. >> let's hit our fast forward trades. first up micron technology gearing up to have an analyst meeting. the stock has been on a tear up 120%. >> it's a regis favorite. it's not expensive on valuation but that's not why you buy. prices are continue to hold here or go up. that's been what's going on. if you are in this camp and know

this space and you think the prices are going to go lower this stock is an absolute sell. until it gives a glimpse of weakening you got to stay long. >> nike another big winner. . with tiger woods hot and the pga what is the deal on this is this. >> i would never trade on tiger. it's like doing a studio trade on a movie opening that doesn't move the needle. to me it's irrelevant. if tiger does poorly it doesn't matter. do you want to own it. i like nike. i'd rather own foot locker but i think europe is turning and that's good for them. >> this is a contrarian trade fitting into our theme. we're looking at a sweet stock that's been outperforming. hershey up 35% but b.k. you're going contrarian. >> up almost 300% since the lows

in 2009. this is has been a monster trade. here's the problem and why you should at least take profits here. you have cocoa up almost 20% in the last month. you have sugar looking like it's going to base. you have the u.s. government saying they're going to do everything possible to keep sugar prices high. >> they have been passing an price increases over the past couple of years. >> that's why the stock is up 300%. >> what's the problem? >> you can only sell a chocolate bar for 39 cents and they won't pay 42 cents. get ahead of that. you're seeing gross margins at the high since 2009. you have a lot of risk in this stock that gross margins roll over. their input costs go up and they can't pass the cost along. >> karen and i are going to the theme park. >> are you going to get a candy bar with your picture on it? >> you should get the chocolate spa treatment. >> nice. >> i would like to see that. after the break our viewers have questions on everything from gld to google. we're trading your tweets next.

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month. dan thinks now it could be time to buy. >> i bought this a couple months ago. this sets up similar to the move we saw in groupon today, one of these failed ipos from 2012 left for dead down from its $10 ipo price. the company has a $2.3 million market cap. no debt. they just brought in a new ceo who used to run the x box division at microsoft. i think he said this is going to be a couple quarter turn around but i think there's potential to have an asymmetric return. the cash level should be a very considers support level, okaynd so to me take a little risk here and play for a turn around and double in a year. >> what do you think? >> i actually agree with him. >> really? >> with a name like zynga normally i wouldn't but they seem to not be lose k money.

i would be worried about how quickly they're burning through it but they don't seem to be. that would seem to provide an interesting floor and a lot of things can happen. i like the asimilartry. >> neither of you -- >> i want to take back -- i'd rather basketballe in the candy bar business. >> you tweet it we trade it. let's get to the tweets to our crew today. this is actually for dan. will gld continue to run? >> this is one obviously we just talked about fundamentals doesn't trade an fundamentals. to me 120 was the floor. if it gets through there i think you see 135. you probably have a technical balance above 130. >> this is for guy, thoughts on cat. >> this gentleman put on an interesting put spread. you didn't want to read that so i'll point it out to the viewers

if they're not watching at home and listening on the radio. his promise is that the stock is going to go lower. i'll point that cat traded at 80. it's held each time. series of lower highs and lower lows. at least you have a defined risk. i do still favor the downside but if i would look at this chart and say there is a good chance if the tape cooperates it's going to trade up to 85. >> karen, is it time to take profit from citigroup? >> they pulled back a little recently. i think you should probably sell some upside calls against it. i like it for the longer term but i don't really see -- certainly i don't see an august catalyst. >> b.k. what is wrong with google? >> well the first thing that's wrong it's a stock. we have a beat tape here. it's gone sideways. a lot of news is priced into

this. today had an interesting reversal day, bounced off the 50 day moving average. it needs to hold 885 technically. if it goes through there i would start to think about getting out of it. >> do we have time to ask beaks what happened to him? i heard he got stuck behind a rick shaw. >> it was a pedestriany cab. it was a series of issues, a broken bus and construction and then a pedy cab took up all the lanes. >> let's trade it. >> first move tomorrow when we come right back. stay tuned [ male announcer ] come to the golden opportunity sales event and experience the connectivity of the available lexus enform, including the es and rx. ♪ ♪ this is the pursuit of perfection.

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[ male announcer ] come to the lexus golden opportunity sales event and choose from one of five lexus hybrids that's right for you, including the lexus es and ct hybrids. ♪ ♪ this is the pursuit of perfection. it was very, very close in terms of who won the street fight, but karen won. >> i take no joy in this. >> shallow. >> time for the final trade, dan? >> i like zynga. >> brian kelly? >> a couple weeks ago i said to buy mexico. i think it's time to take the profits and sell eww. >> i got to eat my own cook ibm. buy. >> guy? >> most buys are speculative in nature, aren't they, dan?

>> to some degree they are. >> to a large degree. first solar, i think josh the sausage man talked about it yesterday. fslr. >> only sausage 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 somewhere, 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. it's my job not just to entertain you, but to teach. that's what i'm doing tonight. so call me at 1-800-743-cnbc. there's some things i've been keeping from you, it's not fair. tonight i'm going to do something about it. tonight i'm going to tell you