points on the dow t. nasdaq moved higher. apple did well today, talk of a new apple iphone coming out september 10th. mark that on your kamen dar the s&p was down about 2 points today, always a pleasure having you. >> thank you for having me. >> you are free to go back to "squawk" on the street tomorrow. >> can i get a cot here? >> that's it for closing bell. >> ""fast money"" begins right now. ♪ >> i'm mellissa lee. we havoe our guests. apple's next stop the tech giant usually rallies into stock launch himself. the stock is up 10% in just the past month. now, the next iphone event is scheduled to be september 10th. what is the trade this time around? >> i tend to stay bullish. i have been bullish around that

400 level. part of the reason i was bullish there is the fact that they had all this stock they talked about buying. they put out multiple billions of dollars. when you look at the earnings this past quarter, unbelievable earnings. some aspects not as good as people expected. and we talked about the products coming out in september. that's something that actually triggered things today when they talked about september 10th being the date is it going to be iphone, ipad mini? i'm not surement i rolled out the august calls today, up to the 500s in september. the reason is i was looking for areas i seen the most unusual activity. it looked like there was a fair amount of activity to the upside. >> stephen grasso, nice hark, first of all, sec of all, do you think pete's trade is a bad one? >> i don't necessarily think it's a bad one. it's a little longer in the tooth now. i have been positive on apple from the 400 range. i liked it there. it's a little winded. the average is 471. great spot to take a stall, take

a breather in the day and you've seen money coming out of google and apple into facebook. >> it's not necessarily that you believe. >> coming out of google, going into apple and facebook and i think that's also a little bit long in the tube as well. so think apple needs to come back in a little bit. i would say 442-ish. 435, that range is more comfortable for me. i'm not saying he is totally wrong. for trading, it's overdone. >> it's up 10% the past month. >> up a point, talking about the technical people. i think a lot of people going on with apple is about positioning. it certainly has been the last year t. last time it went through the 200 day on the upside, where it was in it, a bit higher in april of '09, this was a stock that had great news ahead of it. i don't think we will get through on this first run. i like steve, pete has been right about this. i thought a coupleouts with pete on the show over the last month where i felt like, first of all, 445, it wasn't going to get

through. i think around 505 is where you have a lot of technical levels. within i look at emerging markets, they're down 5% market share in china from 9. this is supposed to be the great saflation. i look at what's going on with other hardware guys. this is the only reason i think it's arguing in favor of apple. it's not a hardware company. is ultimately something that will take them through this level. >> that's the technical side of the trade. prices slashed from 595 to 710. they cited a hostile environment tipt at this time. they are concerned asps and the ipad will come down and they will be challenged. >> the price target is up 30% from where it is. >> yes. >> that seems. okay. i guess it's bearish. i don't know. i think anywhere close to that would be a good thing for apple. i think we got a little more momentum into this new product launch. remember, this stock has been stalled for a while and you have short-term focus trader.

this is the most traded name, probably, that there is. now it is in our sights. we are less than a month away. i think we got a little more momentum. >> be i the way, in the near term, in august, 2-to-1 calls trading against 465s, 470s. i think these guys are expecting this some to move to the upside. when you' at the 500 strike getting activity. actually sparked some of the interest for me. mainland china, i've had sales, by the way, were up 37%. not everything, everyone was focusing on the iphone t. ipad in coin actually sold very, very well. >> let's get more of this apple story. let's bring in colin, good to see you. your price target, you got a firing on the stock, your price target is $500 bucks. >> kind of i like the name, i like it through 4 u.s, i don't think it will ever go back to the levels it was at before. >> ever, ever, the 700 club?

>> not what i see coming right now. i agree with pete. i like the buy back. i'd like to own this in front of the product recycle t. dynamics in the industry are changing. this is a nokia lumina. it's a fantastic phone. >> he is using a nokia, that will be big stock. >> no. >> i'm going to go get a nokia now. >> i bought mine over the weekend. we can change. >> because the point is, i wanted a stop gap phone for a couple of months until i get my moto-x or my new iphone. the average selling prices are dropping. they're dropping fast. they dropped $75. >> apple is supposedly coming out with a low cost phone. >> it will probably be about $400. if you track the ipad and ipad mini. it gives you an iphone around $430. they will round it down to around $400. that's still pretty expensive for a mid-tier phone. >> what's more important for

these guys the ipad or ipod? excuse me, ipad or iphone? forget the ipod. >> teacher mac numbers don't matter anymore now. >> tablet sales sequentially will be down. ibc was out with numbers, if this is where these guys can compete and dominate, i'm not so sure. >> here's what i would say to keep the marketplace in perspective. we will sell close to a billion smartphone, 200 million tablets. so the smartphone, apple is the iphone, iphone, iphone company. it's all about the iphone. >> so you have nothing built in, no expectation of additional product line? >> i don't. >> like an i-tv? there? >> google's comcast which i hooked up over the weekend, it really hurts the case for on i-tv. why have a $4,000 slab of glass when you can chromecast across to your tv? they beat apple to the punch. the lack of new product

category. >> if you want to guy google now, it's been under pressure. you and i discussed this offline. does that make you want to buy? >> $35 bucks. all it does, google is collecting that much more data on me, they are a far way away from monetizeing the third screen. >> let's switch gears and talk blackberries, scoring a possible sale what is your take on what can actually happen? will it be broken up or remain as a xoel company, by a kwierd? >> they want to sell themselves i want a poney. i got one. really. you know. never loved as a child, i guess. mom and dad did love me. but, so, you know, listen, anyone who is a strategic buyer has taken a sniff at this company. right. so now the question is, can financial buyers come in and get the done in if they can get the exam to go, hit that bid, get it done, right, and the only difference to the review they did a year ago in the review now is they have a new board member,

right? he comes from tpg capital. he's a private equity guy. hey, maybe, there's all kind of horrible deals that get done, right? maybe it gets done. >> can they sell pieces off? >> they can sell pieces off. if you are a consumer, do you want to buy a phone? if you are an enterprise customer, are you worried about the future? if you are a carrier, are you going to continue to market these phones? >> what was new about the announcement? it has been new for some time. anyone in these positions have known. >> it's a bank. j.p. morgan. >> the most critical question i have, though, is if they can get a strategic seam, what is the price level? what are they worth? are they a $13 a share, $15 a share or what is the value that you put up? >> it is so difficult to do, first off, there is asymmetric information. we don't know what the buyers will know. we don't know how the quarter is going to play out. i always thought rim rim would be a take under.

>> thank you for stopping by. colin gillis, what do you see? >> i was waiting for the breakup value, if it's a take under, i'm a little nervous. i'm right at this level. >> you got long today? >> no, i'm low, so i averaged down, it came back. this is pretty much my average cost on stock. >> i have a controlled rick trade on. i'm using the options, i have a spread here. your estimate is right potentially of 14.50. you did say a take under. i think it was a $15 member. this was a $15 stock before the earning fell off the flip type thing t. fact that it is a take under, i view it from the $20 level not the level it is now. >> again, last year, we had this. they are telling with you the q10 and z120, they are done, i'd stay away from this. we have breaking news, we want to go to scott wapner on j.c. penney.

scott. >> hey there, melissa, thanks so much. there was a report earlier today that moved j.c. penney stores that said the soros field was supporting j.c. penney. i can tell you that according to sources close to glen view and familiar with the firm's way of thinking is that the firm had been chosen sides in this. the source telling me that glen view has a pass at stake and that the firm believes that there is only one side to take, according to this source that everybody agrees that j.c. penney needs additional human capital to fix that company. so, again, just to reiterate, because this early report did move j.c. penney stock a good amount, about 2 or 3%. according to my sources, familiar with glen views thinking sheer that they haven't chosen sides in the boardroom fight with bill ackman.

they have a pass at stake. they only believe there is one side in this whole thing. that's that everybody agrees j.c. penney needs additional human capital to try and fix what's gone on at that company. so that's the very latest and, you know, there will be slightly more developments over the next 24 hours or so, if not before. we'll bring them to you, melissa, if we have them. >> thank you very much, scott, wapner, the latest, knocking out an earlier report that glenview had taken sides in this j.c. penney battle. what's your reaction to this? is there possibly a trade in here? >> to me the possible trade is to the short side, i think. you know, you have a few, i mean, just the backened forth -- back and forth has been so unusual. we never seen anything like this. a few things stood out to me. one was ackman's letter the next day where he said some numbers that were continually worse. he said mike goldman seemed to be backing off those numbers. so that makes me, as a

shareholder, you should be concerned. we are the opposite of a shareholder. we are short. the other thing is monday we had some very big numbers, that's their earnings coming out. they'll give us some sense of how back-to-school is going. i don't know if they'll talk about this board room situation. i think those numbers are not going to be good and i think that the nastier this thing gets and the more dug in each side gets that the likelihood offing a man selling his stock at some point i think has to go up. >> so you are sure. you are willing to be sure going into the earnings all be eight small position? >> yep. >> coming up nick, why the lone star state is getting more cautious on the the markets to layout his top picks right after this break. plus, from steel to japan, a look at the hottest trends on twitter a little later on. stay tuned. . [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪

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♪ >> elan musk is unveiling something called a hyper loop followed by a conference call. let's get the latest on this from cnbc's phil lebeau. >> hey, let's get to the drawing that elan musk put out an hour

ago. this is his vision of the future of the type of capsule people would be sitting in if the hyper loop is ever built. again, this is a theory. i should point out on the conference call maybe he is opened to the possibility of building a prototype of this. the hyper loop, that's the capsule there. it's not the most high-tech drawing. he admits that. he says it's ideal for cities between 900 miles, l.a. to san francisco is a pretty good example of that. the tube would be almost a double barrelled tube that would run along highway, 'em for long, straight stretches, highway 5 is a perfect example of that t. capsules would carry up to twieg people. elan musk says the system can travel between los angeles and san francisco, total trip time maybe a half hour with speeds reaching up to 800 miles per hour. the generation of power would come from electric conduction motors. turns the air speed into an

electromagnetic course where the capsule is chasing the pulse within the tube and as elan musk says, he believes that the possibility for this to be built is way out there. but at the same, he says this is the wave. if you want to do mass transportation at a high speed, this is the way to go. so the conference call is just starting now. it's just getting around to some questions from reporters. we will hop back on to that. it is interesting stuff to consider, melissa. >> phil lebeau, keep us posted on all the developments here. meantime, let's trade tesla to elan musk babies in terms of companies that have started. grasso, your position in tesla is? >> i sold it. i don't want to make money riding a roller coaster. i dipped in. with all due respect this stock a roller coaster. >> i made money. i analyzed where the stock comes in, it should come in another $15. >> you are not looking to short it, though? >> no way would i short tesla.

it's 25% shortages. >> how many cars are may they making right now? >> you want short at $198. it's $147. >> tesla, tesla. tesla. tesla. >> that is a freefall. you went in there. >> tesla. >> i love the laugh that went along, too. >> there was a lot of guy, no disrespect to you as well. you wanted to be short the name at $98. >> no, no, no, no, no, never. never. >> you would take 85 -- >> let's be clear. first of all, this isn't a stock i would item when i said i would look at it at 85 bucks, until it comes off its pedestal, they're making 900 units. they will make 200,000 by the end of the decade. i would not short this stock. >> the biggest mistake is they trade it off fundamental also. this is a premise. >> let's give people the tesla trading book. what levels? >> you have to trade this on momentum. you have to wait for where it

broke out which is 133. >> then you are back in. you ride it to -- >> you ride it to the high was 1258 and change. so you have to wait through, it either breaks through momentum to 160. then you buy on momentum again. >> this company trade, one of the largest company in the world t. stock is 47% in a matter of weeks. people miss out. >> one of the lone star states most successful stop is getting more cautious, ryan recently shifting around, don hodges, hodges capital has $1.1 million under assets. don, always a pleasure to speak with you. >> mellissa -- is there we say one of the most successful stock pickers, we mean a 40% return over the past year as an example. why are you getting more cautious? the last time we spoke with you, you thought there was no reason the markets couldn't go higher. why the change at this point? >> actually, i haven't changed. i think the market will go higher. i also think at the same time the market is getting a little bit tired. we've had some unbelievable

moveles this last six weeks and if the trees don't go to the ceiling and i think maybe it's just time for a few stocks to slow down. but if it does slow down, if we get a pull back, we'll be buyers >> you think it's time for some stocks to pick up. you are dipping your toes into companies that have largely under mormd if market this the year. >> it's been a poor stock for quite a period of time. but that's the kind of time we look for is a stock that when they're doing well, can really move and it's, we think it's oversold and that it's, the public is too pes mick about it and we think it's the kind of stocks that over a couple of years, we might even get a nibble out of it. so, that's what we look for in this kind of a market, things that going forward could make big moves. >> so, don, tim seymour, you do enbelieve, first of all, free port's moved back into the energy, a core copper player, one that is a risk to this

company? >> it's some risk, but we think the energy area is a good area to invest in. so we see that acquisition as a positive. >> it's karen, let me ask you something, then, what is your view then on china returning to growth and the other -- >> i'm sorry, i didn't understand your question. >> the question is, to be not long a name like freeport, i would think you would be optimistic on china and some of the other bricks. is that consistent with your view? >> the news on china goes from everybody being optimistic to everybody being pessimistic. china is in the initial stages of their growth. it's hard to imagine how large that economy can become over the next ten years and we think that china is a passive, we're going to have a quarter-to-quarter variations in just how much the

economy is growing there. it's on a growth track. we're very positive about the effect of china and they have been masters at knowing how to buy commodities. >> right. i got to ask you about nurngs this is a a trade you have been for a little bit. walk post, not the action newspaper, is that a soft you've ever owner owned? is this a stock you would look at at this point? >> no. we -- we've never owned that one. i don't know that we would. we own ahb low. we have owned gannett. but the market got entirely pessimistic about the newspapers. you take ahb low, they have four newspapers, but their strongest newspaper is right here in dallas, texas. a state that's having great growth, a city that's having great growth and we think that ahb low is too cheap here. >> all right, don, a pleasure to speak with you. thanks for your time.

>> thank you. >> don hodges joining us from the lone state. let's move over to josh, ena. >> we are looking at sinaf. street was looking for 12 cents in terms of revenue, it's also a beat at 157.5 million, importantly, guidance, it's looking for dw3 revenue between 176 to 108. the street had expected more like 165 million t. stock higher in the after hours. not some 70% now this 84. melissa, back to you. >> josh lipton, thanks for. that 70% gain this the year. >> here's a valuation that's scary. one of the things that's happening, this is the twitter of china. a li baba has taken the next stake. i think that's a part of the third quarter guidance. they made a $380 million commitment. this is a stock i don't buy.

it is proving its business model. coming up next the deeper dive into the bouillon bounceback. they layout the best way to play it in the battle of the minors versus the metals. grab your kids, back-to-school shopping season kicking into high gear him one says steer clear of both the high and low end retailers. back in 2. you make a great team.

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gartman. good to see you. >> mel, always good to see you. >> if you had to choose between the two, which would it be, gold or the miners? >> if you asked me that question a year ago, i would say without equivocation, avoid the gold. it's interesting, however, in the lost several weeks, actually the last several months, the miners have begun finally to do better on their own, own the days when gold, itself, goes up and to hold on days when gold goes down. so now if you asked me what would i do to own gold and i like to own gold, i'll buy gld. for the first time in a long time i'll be gdx the miners' index. meaners are outbuying gold itself. it's an unusual circumstance. >> there are a lot of concern the miners need to do a lot in terms of capex and right sizing

their cost structure in the declining gold price. do you think that risk is off the table now that we've heard miners like new press and gold corps say, you know what, we are cutting back. >> no, i don't think that that threat is off the table. i hope that threat remains on the table. i think the miners have to respond to that threat. if it were off the table, they would sit back and say we're fine. i want that threat on the table to make them do the right things. they need to increase, decrease their exposure, cut back on capital expenditures. they need to start returning more money to the shareholders. i think it's an old story. i don't want that taken off the table. i want it in front of them to make them focus. >> dennis, a good question for you, this is pete. with the gdx, it tends to have more of a beta, it lags the gld. beta kicks in. the other with the beta is slv. i know you avoided the silver in the past. you avoided the miners in the past. do you now look at silver as

another proxy for beta than an actual gld, itself? >> pete, i'm too old to trade silver. a young man like yourself can trade silver. with eold guys, i will avoid silver. i don't like trading something that moves 2 and 4 and 6% in a day. silver can do that. i'll leave it to guys smarter than me or wiser tan me. that's you, pete, can you have silver. i'll focus upon gold. i'm just a poor lad from north carolina state. we know where we focus. >> dennis, good to see you. pete, i will turn the question to you, do you like it over bet fa? >> gold has been in front of the of this trade for a while now as far as commodity is concerned. dennis is right, it does move in big chunks, when it's moving to the upside, if you are bub u bullish to the upside, you do want to be bullish of slv or gld. you will get more been for your buck. networks up 3%. >> they got an upgrade from

barclays. this company has the growth factor, i think there is plenty more upside even though this stock outperformed. >> caterpillar popped 2%. >> i think on positive excavator day that. we are hort caterpillar. >> a drop here for sysco. >> 32.90 is your reward. i'd rather be short than long, support is down to 30, resistance 36. you are smack in the middle of the trade. >> we got a drop for beam down 2%. >> while the global spirits industry is growing, console diegs is out there. they have great earnings on thursday. that's the point. at lo has priced in. stocks 5% from the peak of your day on the earnings day on thursday, they announced it today. i don't think you into ed to own it 223 times. >> we have a pop here for the

sushihhito. they have a sushi roll and a bury bu burrito. is this deem half baked? you be the judge. it features yellow finn tu ma. >> that was a catalyst. looks awesome. >> that looks, i'm really hungry right now. >> coming up next. >> why didn't we get any on set? >> back-to-school, kicking into high gear. which middle road retailer will be in for the biggest gains, the momentum. you have been pleading for trade of the day.ast money"" karen will unveil the day a little later on in the show. stay tuned. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade.

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. >> welcome back. we are live with the nasdaq markets. i want to head back to headquarters. courtney reagan has breaking news on j.c. penney. >> reuters is reporting j.c. pening and pershing shares bill ackman may resolve their differences tonight so far, we aren't seeing movement. remember scott walker coming on

saying glenview has not taken a side with ackman or j.c. penney in this boardroom brawl that continues to unfold here. there are headlines crossing that bill ackman and j.c. penney could be resolving their differences. we could hear from them by sometime tonight, melissa. >> thank you very much. let's go straight to brian, broadly, j.c. penney, we have this breaking news, so they're in talks reportedly to resolve this dispute. does that limit the possible gain from shorting the stock? in other words, does that put a floor underneath the stock at this point if they are able to maintain their differences within the boardroom? >> you would think so. what will happen, they will have a liquidity run. what i expect is a horrendous quarter. a lot of concern about their cash burn rate. so this may soothe the headline, the fundament also are absolutely horrific. you have to worry about that. >> you say it's still short? >> we have a $12 price target.

i will ride this down to continue. >> moving on to back-to-school at this point. you are saying the middle retailer, those are the places to be, not the high en, not the low end at this point? >> retail is the ultimate landmine. we had earnings, it's your job to be a stock pecker and pick up the dud in the landmine. i think you have as to look at macy's, expectations have come down on this stock. if you believe j.c. penney is absolutely horrific, you want to own a macy's. look at the tales, we had michael kors building choping shops. they set up well for macy's. >> macy's a name i loved for a long time. what are you hoping to get out of the stock? >> macy, you can get a pop. you seen estimates come down t. numbers out there right now, but the key higher margin departments of the department store, michael kors, fossil watches. they seem to be working very well. if i have to play a trade into this. macy's will be my name.

there are a lot of negativity out there right now. >> you are cautious on earnings here. what is this? at a time when i think they're starting to eat into amazon, get a lot of that online business and, to me, when you say don't sell the, you know, sell stay within the low end and the high end, where are you putting walmart? is that considerally, i would say somewhere in the middle? >> walmart is a giant blob. what's happening? price is truth in the marketplace, you want to know the truth? walmart shares under 4 basis points, what did it do last quarter? it missed by a penny. i'm concerned about negative track. look at the marketing stories, that i are investing billions of dollars. they have essentially become a grocery store. they happen to sell guns in the back of the store with bows and arrows. also, international, look what's happening, that i are retreating. in their margin, that i are coming down significantly. doesn't set up well. >> a quick question on tjx.

this stock has performed amazingly well. is it priced to perfection or can they actually show us there is still more growth in the chain? >> i'd be concerned. the margins have started to peak a bit. where there is some excitement. we may have a website. they will launch it. that's a positive. retail, look what's winning? look what starbucks is doing. they are innovateing at the extent apple used to innovate. they're raising prices. >> brian, thank you for stopping by. i appreciate it. tim at walmart. the other thing that's kicking up, they hiked the basic membership fees to sam's club. will show up in these results, potentially. >> around $77 bucks. these guys are up against some resistance. it is holding the 50. it has underperformed the s&p. this is the great multinational international story. i love what they're doing outside of this country in addition to what they're doing here. >> let's check in with option

action. scott. heavy call volume. >> that's right. karen and brian aren't the only bulls in macy's option vurnlgs several times the daily average. we saw some big call buys. one thing we saw a buyer of the september 48 strike calls they paid a buck.77. the break even is 49.77. they seen macy's well above that level. thaifd they've picked september. they want the trade to have a few days to work. given the august options will expire this friday. really interesting level, though, 48 to 50 is a suggestion. somebody wants to have protection if macy's can't get through that level or earnings aren't everything that traders had hoped for. >> scott, thanks for that. coming up next the chair woman takes us behind the iron clad doors of today's "fast money" trade of the day. yes, it is back. plus, young brands, the parent company of pizza hut dropping. we are trading that stock right after this break. ♪

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at aflac.com. . >> welcome back to "fast money."

i'm josh lipton. we are watching brand falling. tells us cops estimate a drop of 13% in july. the company estimates that same store sales fell 16% at kfc china location, pidz za hundred up 3%. yum said they forecast sales to be positive in the fourth quarter. stock down nearly 4% in the after hours. people lisa, back to you. >> thank you, josh lipton. tim, young brands hit new highs recently. >> i think the problem is people were expecting it to turn around quickly t.avian flu, kfc and pizza hut, significantly different in china. they are looking at minus 7, minus 8. it's not good news. it means it will not end as quick as possible. will is no reason to ride into these numbers and get disappointed. >> now it's time for the evening, a rapid fire recap of the day, best cnbc moments just in case you missed them.

♪ >> news just breaking. blackberry had been halted. they have now announced they are seeking strategic alternatives. they're opened to a joint venture of the company or possibly a sale of the company or other options. >> we believe the economy is about to go south, which i doubt, or something is going to damage earnings and i don't think that's the case, neither. then, clearly, you respond due to those. but looking forward, i think we'll make it. but it's going to be a very messy september/october period. >> a few months ago, mark ullman took it on. nobody can turn it around in two months. this is a double turn around, this is a miss like we've never seen before. >> this is incredible. how about an apology? >> how about selling your stock and moving on? >> do you know what he looks like? he looks like ghandi versusing

aman. this is ghandi, ii, he is back bigger than ever. >> essentially, this is what the hyper move is about. we only got a few clues over elan musk, he basically says, when he unvams it, what you are looking at is the cross between the concorde, an air gun and air hockey table. >> icahn put out a press release, i will quote from it. we encourage investor, the media and others interested in our company to review the information that mr. icahn posts on twitter in addition to the information that we disclose using our investors' relation website. can i tell you from sources i think we're talking a matter of days. >> lots to discuss here karen. i know carl told you initially, he would post his next idea on twitter, it's funny to say he will release in days on twitter. okay. we're ready. >> we will get tons of

followers, posts. >> in terms of the. >> o'think you should talk about the dollar. this is the consensus on wroet. they said we missed it. i think. >> are you yawning? >> i'm yawning at the dollar. >> there's other stuff on the show. the bottom line is people are playing the dollar between 80.50 and dxy to go up 84.50. is the trade. >> give me the trade. >> interesting, guy. do something good. >>ly go to something i know we will touch on a little more later. how about those euro crisis bank stocks, those have been absolutely on fire. >> i'll give you one. >> one of them is up 21%. one is up 15%. when you look at these names out there, this is a sector no one is looking at. when they're looking at the euro banks, they're not necessarily looking at the crisis banks the pig, they're looking at the big banks. those others are under the radar. 21% move in two days. that's a lot different than the dollar going, wherever it's

going. >> anyway, i will agree. deutsche bank, is eight trade i'm in? i'm in abg for much higher. if northern europe is -- this is the counterintuitive trade, i would much rather own southern europe even though people are talking the opposite. >> if are you going abg. people are buying into this. >> bank of greece. it looked like it was going to zero. it's up 21% in two days. >> bank of ireland is another one up 15%. >> it's not that far from zero when they did that. >> gaventic reverse flip and diluted the -- >> it is reminisce sent to me. how about banc of america? you want beta be with bank of america, get more upside. we are taking a look at seaworld out with its first earnings report since its ipo. >> i don't think this stock will

dump. it's a seal. it will jump through hoops for you. >> it looks like bait to me, physically. if you look at the chart, 35 is important. but it can't get through the 39 level. so i really don't know what you would be buying it for. >> do have you is that written down? >> no. it just came. tim would put me to slope. >> coming up tonight. the viewer tweets making today's "fast money" live after this. stay tuned.

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. >> it is sometime for the moment you all have been waiting for, time for the big reveal. time to find out what today's top trade is. the trade of the day, karen has the honor today, so, karen, film us in. >> for the trade of the day, this is the one we have been circling around for years, all the stars seem to be aligning. is corrections corps. we are on the short side here. the reason is sort of twofold. one is that we actually think we may have seen the end of the growth in prison population. there really is a push now. there was a speech by eric holder about how we can't incarcerate. it's too expensive to incarcerate, so these minor drug

offenses, so we think that budgets don't really allow it and that the population growth will not even slow, turn negative and when you are making correction, if you make money on those incremental prisoners, that's a problem. so we have, that is sort of the big backdrop the second is, it's a reit now. they paid out of dividends, a one-time dividend. they are also a pretty decent yield, 5%. so that is a cost to the short side. we also sort of like the macronow of being short the reit space. we feel it's run up so much. if we do see inflation, we see yields higher, that will be inrate issive for this space, on a micro and pack ro levmacro le. >> you'd rather be short. >> who knows what can happen. >> trying to slow down the trade. >> the trade can be a painful one for you if you doesn't work

out. >> thanks. >> again, so the trade of the day, short. >> short. >> here's your not so fast, your froid traders are quebec, last month, pete made a bearish call on cable 56. take a listen. >> well, they talk about merger in this world, that starts to get the stocks moving to the upside. >> since that call the stock was up 17%. so, pete, what do you do? >> i almost wore that tie again today, that would have been an embarrassing moment. this is one of those, there was a story lean out there giving the stock a nice push to the upside. i didn't jump in that thing. i didn't short it. i still wasn't chase it at these levels. i think if it gets back towards $15 a share, it's a much better price. at 19, i don't see the upside. >> wrong, but not boring. >> there you go. >> all right, you tweeted, we traded. let's get some of your tweets to work through tonight. this is for karen, where is

general electric going? >> i think actually higher. i think that, you know the conglomerate, it hasn't been a great structure. the financials are doing better, investment is doing better. parts of europe where they have exposure is doing better. i think it's going higher. >> tim, any value for you in shorting deer ahead of its report wednesday? >> no, i don't think so, i like deer, deer to me is a part of a resurgence, we're starting to see in emerging markets in the miner sector. it is coming from dealers seeing demand for these products. >> when you look at the volatility index, it's back un13, you are talking the low end. if you are interested in the market and want to play at these levels, i think you can buy that protection at an extremely good price, however, it is telling you we are in that pause stage of the market. summertime, somewhat dull, a lot of lack of volume out there right now. i this i that's why you are seeing this level. >> in terms of other months,

september/october, is it lower? . >> absolutely. here we are at 12.y. we are on the low range of the picks. >> are you waiting for a pullback? i think the market will be challenged, if you overlay the s&p over the rtx. it is moving lower as the markets sold off in '209, it was right on top of it. as the market rallied to where it was presently, they climbed that ladder with it. i think the markets will be challenged the next few weeks. >> we come right back. stay tuned. clients are always learning more

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. >> great question, hammerheads are so last week. that's why china is picking up our dive into wall street to find the biggest cap for your portfolio. it's sink or swim. shark week begins next on "mad money." it's time for the final trades. let's go around the horn. tim seymour. >> a return to inflation around the world, buy emerging market, the eem got to the 20 and 50. i thits going to 41. >> pot ash seemed to have stable iesd. use 29 as your stop. >> activision, ati, we talked about vivendi, insiders buying stock, i like it. >> we were focusing on the pigs, the financials in europe, look at citi here.

a lot off action, i think this is ready to make a move. >> i'm mellissa lee. thank you for watching. we'll see you back here at 5:00. don't go anywhere, "mad money" with jim cramer starts right now. ♪ my mission is simple -- to make you money. i'm here to level the playing field for all investors. there's always a bull market 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 a little money. my job is not just to entertain you but to educate you. call me 1-800-743-cnbc. where are we? the dow is