cruising. >> right. >> chrome. >> chrome. >> i know. but he's cruising now. >> do not invest in horses, kelly. >> i'll go in half with you on the next. >> done. melissa lee, what is on tap? >> when we talk about chinese internet ipo all you think about is alibaba. there's another one coming sooner that you need to know about. >> is it wabo? >> no. >> we'll hand it over to you guys. stay tuned to find out. >> "fast money" starts right now. i'm melissa lee. our traders are pete, karen, guy. apple shares closing above 600 shares. tonight's story was inspired by jim cramer. >> this group has been a house

of paint. and you can't own these stocks right now. darn it. you just can't own them. >> so we ask can you own financials right now? jpmorgan shares falling after the bank warned late friday of a trading slump. and the attorney general saying not too big to jail. including a $4 billion accounting error at citigroup's mexico unit and countless settlements for various mortgage related issues. >> i love jim. huge fan. in the context of the last month, house of pain. pete's been on the story a long time now. i think a lout of these names - i think it is an opportunity. the black stone quarter i thought was outstandings.

assets up 29% and the stock is down 18% give or take since. they just got ought up in the rest of the space. i think wells fargo, great companies that have sold off slightly. i think you can own the space selectively. >> the easy money has not been made. they're coming off a low base. at this point maybe it's that extra mile the hardest to close. >> i think there's going to be that one baby you can pick out of the bath water. i think the financials are tough to own right here. all the things we can say are one-offs. the reason why you buy the financials. going forward as the economy is going to approve, they're going to be able to yield that yield spread. we have china which is slowing. europe which is slowing. if i thought the economy was going to be 4% like a lot of economists do, i would much rather by steel but i don't want

to buy either. >> i'm long. i don't like to see a friday night announcement. i never liked that. this was from their cue. i don't think it's a big deal. i don't know how it should affect the bottom line because i don't know the margin on that short-fall in trading revenue. just rauoughly i thought it wou be maybe worth 40 cents the stock. this is not a crazy reaction to that. i think the financials here are just -- they're targeted and hated. but that passes. we have seen so many industries that become the target of negative press and this is one of them now. no doubt. but i'm willing to wait it out. i think the valuations do not reflect an absolutely stellar return to profitability in the u.s. i'm happy to own them here. i think the bank of america thing is noise. if you put that $4 billion in the context of bank of america overall. it's nothing. they will fix that. i believe the same thing for citi. citi is not going to try to

refile. they'll wait until next year. if you're patient this is going to be an okay place to be. >> are you patient? >> i am. i disagree with jim. i think house of pain, the only think i think of is the hip hop crew. sorry about that, guy. when you look at the financials, they have been dead in the water. when you look at where they're trading the xl. it's somewhere near 22. today it covered. 21.71 on the low. started to pull back towards the end of the day. i think there's great opportunities. and each selloff is one of those opportunities. jpmorgan is a perfect example. today i did not jump on it because i don't think there's any one day events. i have been in and out of this name. i'm with karen. i believe the jamie diamond is still one of the great ceos out there. bank of america i agree. i have not chosen to buy yet. because it seems to be somehow

just sort of holding on to the 15 level. we're not seeing the options that would drag me in. normally we would see 500,000 calls. >> so you want to see that kind of activity. >> yes. and bank of america and citi. jp morgan is the name i'm looking at tomorrow morning. >> i know bk wants to challenge. >> bring it on, bk. >> let's go to sheila back at head quarters. >> well this is about the investigation regarding credit suite's roll in swiss bank accounts. saying their sources have been reporting that credit suisse excuse me department of justice is close to supplying a guilty plea and that the settlement is expected to exceed $1 billion. again department of justice close to securing a guilty plea from credit suisse and paying up to $1 billion in the settlement. >> thanks for that. brian, here we are. another settlement at the

financials department of justice. >> again all of those things can be noise and they're going to go away. but the fundamental reason to own bank is if you think the economy is getting stronger. i think 4% gdp growth ises crazy. i know we love jamie diamond here. >> we meaning karen. >> yeah. >> i have enough for all. >> here's a guy who took over before the financial crisis. the stock has gone knnowhere. we still reveer him as a great ceo. all i'm saying is that at this point in time i don't want to own jpmorgan. >> i got to take issue with how he was the steward in 2008. that's a longer discussion. >> right. >> you know, i just think this is a quality name. there was a huge overreaction to the london wale. he said everything you want a ceo to say.

>> on the call when it wasn't. >> then he said i was wrong. i ignored information. >> i want to get at the fundamental reason. guy, if you are a believer that yields are going to remain low, which you are in that camp, right? can you be investor in the financial? >> so if you're asking me to invest in the etf, i would say you're probably going to tread water. the specific names pete mentioned, i think you're going to do better than tread watermewater. you're going to do well. >> so you think theat's a littl bit better. >> that's fair. >> i don't think you need to get anywhere near the 4% you're talking about. >> wouldn't you rather own something like steels that aren't up 40% over the last year? i guess that's my point. even if you get 3%, i think the banks have run so much that there are better investments out there. >> i think you got to look at the banks have run so much from

such a low base. >> target searching for a new ceo. greg stinapple. months after that massive security breach. joining us on the fast line, former target chairman who runs his own global business. great to have you with us. what's your take on this? is target better off without stinhifle at this point? >> it may be tarnished but under that tar niche there isn't just brass there's gold. improving the supply chain and inknow advocating every day in marketing and merchandising. but they keep pursuing the next thing. they can get it back. it's still a much loved brand. >> it sounds like you think the new blood would do good for

target. >> look, you know, the breach is a one time issue. everyone is focus on that. but to me, the excitement is in the opportunities to drive the business going forward. that's what everyone should focus on. >> it's karen. this is a highly unusual way for him to step down. clearly it seems -- something is wrong. something is not right. you got to think the earnings are going to be terrible. what do you think happened here? this is not your regular, normal, you know, success plan. what happened? >> i don't know and i wouldn't want to speculate. i would say these are tough jobs. trust me, being ceo of a 24-by 7-job. and retailing is a tough business right now and a time for being bold. you have to advance on two fronts simultaneously. you have to embrace e commerce and drive the internet.

everyone says your store has got to pot. it's a tough time in retail right now. >> jerry, the stock market is putting the credit on negative watch. those two things tell me that target is not better off without stinehoffle. would you use this pullback as opportunity. >> i'm still a shareholder. i haven't sold a stick of stock in years. i wouldn't do it now. the stock is down 15% over the year. i don't give investment advice but if i were thinking about it i would be thinking buying not selling. >> who would you like to see as the see? are you tossing your hat in the ring? >> i'm having great fun doing what i'm doing. i love just talking with you guys on these afternoon. >> you can still talk to us. >> even more actually. great to have you with us. thanks for your time. would you buy?

>> the feelings he has about target are the same feels i have about goldman sachs. as much as it pains me to say it, i think morgan stanley is out goldman sachs. i think he's too close in terms of the stock. from the middle of last year the stock is down 20%. look at abercrombie and fitch. finally might have gotten something we can trade against the $30 level. decent valuation. i think they reported in a couple weeks. i think a & f might be interesting. >> i can't believe there's not another shot in target. >> something smells wrong. >> something is wrong. i like target. i would way though. see what that other issue is and then re-evaluate. >> that's the first thing i said when i heard this. then i saw the stock down saying what else is going on here?

yes, the credit card breach is bad but not bad enough that i think a ceo had to step down. there's something else going on. i think target is a tough buy here. >> it's probably why you need to be patient. i think one of the bigger issues is who is going to fill that role. you look at a lot of the various -- jcpenney. go through the list. this is not something it's easy to find the right person to build that business back up unless they can find from within to be able to get -- >> and there's two candidates they're looking at. but maybe they're better off going to fresh blood. >> they might be indeed. that likely would be the role is get somebody fresh to have a new look and something different on the approach going forward. >> everybody hearsre' says a no touch. >> right. >> as a money manager do i want

to put capital behind that type of industry, i don't think so. >> that was quite a speech. >> there are going to be some with great management, macy's and others. >> correct. >> apple closing above $600 a share. will the iphone and iwatch help the stock? plus millions of shares will be for sale of twitter tomorrow. next. no matter what kind of business you own, at&t business experts can help keep it running... seamlessly. so you can get back to what you love. when everyone and everything works together, business just sings.

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[ female announcer ] the x1 entertainment operating system. only from xfinity. tv and internet together like never before. welcome back to "fast money" where we do have headlines coming out of the investment conference in new york. take a look at athena health down in the after hours. short the stock. einhorn says they are not rooting for it to fail. it is caught up in a bubble and could fall 80% from its recent peak. back to you. >> thanks. we should note it is down significantly. >> i'm surprised he would recommend a short sale as

opposed -- so publicly having seen what can go wrong. >> take a look at apple here. closing above the key $600 level for the first time since october 2012 and that kicks off top trades. peter, are we witnessing a breakout? >> it feels like it to me. when you closed above $600 that's a key level people want to be looking at. just the explosiveness of this move as the stocks move to the next level. after the financial engineering, they're really impressed. now is the proving time. they have got to prove to everybody that they have got innovation and the products. that's probably not going to happen until september. when you look at the valuation and what the options are telling you now. i'm not in the options but i have been in the stock what seems like foreverment ha. half of the paper today was in weekly options. when you look at the calls

versus puts, dramatically weighing towards the causes. the optimism is out there. >> at least for this week. next up, another dose of negative news on housing. cold well banker and century 21 falling. the home seller also confirming it's facing a slower housing market. couple that with hedge fund manager, he recommended a new shore earlier today from the conference. take a listen. >> last summer people were saying this isn't enough for a great rise to matter. kind of hard to hold that point of view right now. take a look at mortgage applications. look at housing starts. look at new home sales. they're no better than they were at the so-called trough of the recession. these stocks which are up an awful lot and a return to what people think is normalcy i think are going to be disappointed with that.

>> he is particularly down on single family housing. >> so karen can talk to realty. it's the home builder index. you think dh hornton and home builders. trex is the biggest at 4%. temper sealy, basically 3%. you think there would be better ways to manifest a short position in that space. that said, trex down 10% today before these comments were made. probably a seasonal thing. i would strip out a lot of the names. i like home depot but i think his premises is spot on. >> in realty you're out. >> i'm out. not that i expected these kind of earnings they reported. it sat for a while. here you have a business model that when it's good and things go up and levered, that's great. the operating business is

levered and the balance sheet, but on the flip side, if you have the number of transactions going down and the price going down and the number of mortgage refis go down. and so margins go down. >> why not short the itb? it makes absolutely no sense. i'm with you, guy. there's not a home builder in the xhb. it makes no sense to me why folks refer to this one when they're talking about the home builders. the itb is plenty of liquid. it's all home builders when you look at the top four, five home holding. >> would you short now that you have gone to that point? would you take that trade? >> no. look at the chart they put up just now. i think it's in kind of holding pattern. like the xlf. not going anywhere right now. i like a love of the derivative plays. whether it's home depot,

mow hawk including whirl pool. >> i would. it's trading at $24. i have $2 risk. this whole game is about risk reward. these stocks are going to get killed. >> next up twitter, 480 million shares will become eligible for sale after the stocks recent rally. let's welcome the managing director, eric. great to see you. >> great to be here. >> it's less than that staggering number. it's owned by insiders and the venture capitalists who say they have no plans on selling. that leaves about 313 million share that is could be unlocked tomorrow. what's your sense what happens here? >> it's going to be another event. we didn't see the stock do very much today. and you would expect to see people start to sell. obviously not the people cannot sell tomorrow but others might decide to sell today. i think it's going to be an

unevent. the insiders say they will not sell. they're showing discipline and confidence in the company. i think most people in technology such as myself believe that twitter is a massive company to be built. it's here to stay and has a lot of potential. >> a lot of people have long-term faith in twitter. what do they need to be doing right now? >> they just need to explain what twitter is in much simpler terms. in plain english. we live on twitter. we get our information on twitter. that's our vital part of the day today. you need to be able to explain this to a broader population and make it vital to them. they need to just go and speak english. >> so i guess i'm curious then if in twit -- so everybody is not going to sell tomorrow, rig right, in twitter? is it $45, $50.

where do i need to be worried about? >> with huge technology companies it takes a while for them to find their normal position. it's really hard to say. it's hard to tell exactly what the company is worth. you can't tell by the multiples of revenues. and then the daily active users are somewhat less than what's -- than a bunch of other applications. it's in a world by itself. >> with the recent pullback in some of these high fliers. has the environment changed at all for funding some of these startups? >> i don't think so. we are in the venture capital business. we fund private companies. it takes these companies years to mature and potentially become an ipo. so what happens today in the marketplace really doesn't have much of an effect. >> let's talk about the last quarter. i thought it was an okay quarter. nothing spectacular but not

enough to warrant the type of selloff we have been seeing. were you surprised? >> i was. i thought it was overblown and i think they have a growth problem. there's something about the product they need to simplify, make it accessible to a broader audience. i don't think they were explaining themselves clearly. >> i'm curious on what your fake on alibaba is. that's the next hot ipo going to come. to the effect that nobody here is talking about allibaba for whatever reason. everybody was talking about facebook and twitter. is that the case in your circles? >> people will talk about alibaba on a daily basis, trust me. here you have a massive company. biggest e commerce sight. bigger than amazon and eharmony

combined. we are accustomed to seeing all american companies, suddenly you're going to see a chinese company valued like an apple or microsoft right in that range. we will be talking about alibaba for a long time. >> great to see you. eric. coming up next we got the skinny on why alibaba shouldn't be the only on your radar. the details of what may be the next amazon of china after this. latte or au lait?

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some unusual activity. pete, you were watching nike today. >> i was. this is an $80 in march and

dropped significantly today. down around $72 and then we got up kinds of up side call volume. started buying around 78 cents up to $1. much oversize versus the open interest. a lot of folks betting on the idea this is a stock that can move to the upside. maybe not test $80 in the near term but something over $75 in the next couple of weeks. >> alibaba, right on its heels is a multi billion dollar chinese internet ipo, jd.com. with us is jj black. >> i love that. >> people think chinese internet and they think everything is in the same bucket. these are different companies. >> that's right. alibaba has 50% plus operating margins. these guys have been losing

money. the reason for that is most of the business is more like amazon and most electronics. and gross margins in china are terrible. if that piece of the business makes any money, i would be surprised. we can't tell but it didn't appear so. their alibaba business, it's much, much smaller. maybe something like $5 billion in merchandise a year versus $250 billion for alibaba. >> i'm curious as to whether or not they're trying to shove out issues before alibaba so when alibaba comes out, they can say support this one and we'll give you a slice? >> maybe. i would say be careful comparing them too much. i think alibaba has been reporting under gap since 1999. these guys are starting to add here to the standard accounting rules. and you know, alibaba was public before, too. this is not exactly apples to apples here. >> right. i guess my point is maybe

they're trying to shove out the crap and get institutional support for this. if you want a piece of alibaba, you have to help us otut and support this other company. >> that's a good theory. maybe if the bankers are doing that, i bet neither company would be very happy about it, particularly alibaba. it's possible. there's one thing i want to mention. if you say they're like amazon. you might think great, it's china, lots of potential. we have seen amazon. but they started at stuff much higher margin. as they shifted in electronics, that's hart. but these guys have been in electronics from number one. >> jj flash. >> it's a great nickname. >> it is. >> it just caught on. his buddies call him that now.

>> apparently right? his mother maybe. any way, let's talk about -- pete, yahoo? >> love it. i still love yahoo based upon all the metrics we talked about. i know we got to wait on alibaba. if it's anything close to $150 billion or above, i look at what yahoo owns out of that, i think there's great opportunities. >> energy stocks, is it too late for you to get in. opening up the play book for us. stay tuned.

s&p up above 6%. looks like investors may final have the appetite for the sector. but dennis says you should be selling any sparks you see. joining us is dennis. great to see you. >> always good to be seen. >> it's interesting because on a day like today we had wti below and exxon mobile hitting a 52-week high. how do you think how the stocks are doing? >> quite well compared to the

price of oil. there's plenty of oil around and i wouldn't be surprised if we see the united states government very soon move to sell some crude oil from the spr because that's its only weapon it has to take on the russians. obviously, we're not going to get any help from the europeans with further sanctions. the only thing we have is the weapon of the spr. i think crude oil prices are in trouble. but at the same time the stocks have been doing quite well. i like coal, nobody likes coal, but coal stocks have done extraordinarily well over the past several weeks. if i'm going to buy anything in the energy sector, let me buy the coal stocks. they are underloved. but they are still the majority and power here in the united states for lelectricity. let me buy coal. when you drop it on your foot, that's going to hurt.

>> it depends on the -- >> the foot? >> i'm surprised -- that's a political third realm to try to pull a maneuver like that in the environment we're in. do you think it's something on the table right now. >> absolutely. and it was what, three weeks ago, a month ago we saw them come out and test the spr and release a bit. if you think about it, the only weapon that we have is what is going to hurt the russians clearly sanctions are not going to be agreed to -- or further sanctions are not going to be agreed to by the germans or the french. they have much more exposure to their banks, any problems with the russians. the only weapon that we have is the spr. it's got to be on the table. if i were the president and i'm not a supporter of this president, but if i were the president i would look seriously at doing that. think about what that does to the consumer. gasoline prices would decline.

you're going to send an arrow at the heart of the russians. if it's not being debated, this administration is not what i thought. it should be debated. >> so if you want coal, does it mean you don't like natural gas or is it like silver, gentlemen don't trade natural gas? >> gentlemen will trade natural gas. i think gas prices can continue to go higher. i wouldn't be surprised that we get over the course of the next year 5. as long as it doesn't get 4 on a consistent basis, i think coal is cheap and it can't be -- electricity users and especially foreign electricity generators have no choice but to turn to the coal market. so keep natty where it's at and coal becomes very, very cheap

and much better investment. take a look at what the coal stocks have been doing. going up as the stock market has topped out right here. i have been long of them and short of derivatives and it's worked out. >> let's trade this and say dennis is right. this is an interesting thesis he has, that the u.s. will sell some of its holdings. what does that do to a exxon mobile and bp? >> this is where i actually disagree with dennis. i like exxon mobile. i think bp is. i see all three of these, not just breaking out and hitting new highs but exploding through those highs. when you look at where bp is trading as far as a pe, this is a stock with plenty of room to the upside. as people chase yields, i don't really look at the tenure as much as everybody else. obviously warren buffett talked

about that today. it's not something he looks at every single day. people look at-year-ol yields. i think there's enough edge in there right now. >> time for pops and drops. down 4%, karen, game stop. >> i don't know. >> drop for pfizer, down 3%. >> big revenue. descent size revenue but the stocks should have been down an lot more and it wasn't. people still want to own pfizer. nice dividend. this is the one to buy. >> chipotle up 2%. pete. >> you can understand why. the stock has backed off 19% after this huge run that it had. one of those momo stocks. when you look at the cash flow and expansion possibilities, i think this name goes higher. >> a pop for sales force.com up

2%. >> upgraded by deutsche bank today. this might have a couple percent more to go. once you get closer to 57, i would be a seller. >> coming up we talked to the founder and ceo of daruma capital management. much more fast straight ahead. you look for what's next. 50 tdd#: 1-800-345-2550 at schwab, we can help turn inspiration into action tdd#: 1-800-345-2550 boost your trading iq with the help of tdd#: 1-800-345-2550 our live online workshops tdd#: 1-800-345-2550 like identifying market trends. tdd#: 1-800-345-2550 now, earn 300 commission-free online trades. call 1-888-628-2419 or go to schwab.com/trading to learn how. tdd#: 1-800-345-2550 sharpen your instincts with market insight from schwab tdd#: 1-800-345-2550 experts like liz ann sonders and randy frederick. tdd#: 1-800-345-2550 get support and talk through your ideas with our tdd#: 1-800-345-2550 trading specialists. tdd#: 1-800-345-2550 all with no trade minimum. and only $8.95 a trade.

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welcome back to "fast money." shares of aig down after the company posting a 27% fall in profits. the insurance company was hurt by catastrophe losses. it's earnings did beat but revenue came in below estimates. 51.75 a share. >> thanks for that. bk, i'm going to guess you wouldn't touch it with a ten foot pole. >> or pete's money. it looks to me it's topped out. the revenue dropping here below the street expectations and i know that's been a trend. people don't seem to care about revenue. but i think in this environment they will start caring. a stock up 27.5 in april 2012, i

sell this one. >> some of the most prominent names are revealing at the investment conference. we've got the money manager who says she will live and die by hers. let's bring in the founder. so you unveiled them about an hour ago. let's talk about electronics for imaging. that stock is up 44%. it's been a good performer. >> actually we're along the stock. >> you're long. >> yeah. >> why do you like this? >> well, we think it's at the epi center at the conversion from analog to digital and commercial printing. but the biggest reason we're interested is they made an acquisition of a spanish printing company that prints on ceramic tile. this company has not -- does not make the inks it sells and for every digital printer, they use

up $225,000 of ink a year. so they're coming up with the ink they're going to be selling. this is a company that's earned $1.60 last year. we think the opportunity is interesting. beyond that, it's huge for a long period of time. >> can you explain to us what -- your pcrx long. >> it's interesting. it is an early stage company. what's interesting about it is that it provides full surgical pain relief and lasts up to 72 hours. the results are really remarkable. patients have to take fewer opioids. they get out of the hospital faster. the cost of the surgery is lower as a result. this injectable drug has gone viral. it's incredible and the ceo gets phone calls from doctors who are blown away by how alert patients

are and pain-free they are after surgery. and the more patients move around, the better they recover. >> is this a potential take-out target in your view? >> yeah. sort of -- we think it could be $150 stock. our dream on the 10% market share penetration on 40 million surgeries a year. our dream big number is $250. that's based on 20% market share penetration. to be fair, the current run rate is $140 million. they have just gotten approval to turn on a manufacturing line that gives them another $300 million in capacity. it's a really compelling drug. it's rare that you see something that gets adopted in such a viral way. >> western digital is on your list. you listen to jim, i think it was april of last year, that was one of his big short ideas. the stock has had a tremendous

run. how much more upside do you see in a name like wdc? . >> we think it's a compelling evaluation. i think when you have an industry starting to behave differently, for us we're comfortable holding that. we're moderating very closely what's going on with emerging technologies. we think they're doing a good job making sure they get to play in that space. >> great to have you with us. >> you're welcome. >> let's -- her last pick by the way, hb fuller. >> right. i love those. i like the chemical space. western dig, that one makes sense. they beat on the earnings. the revenue was lighter than expected last thursday. and the stock took a bit of a hit but on a monster run.

if you look at big daddy and look at storage, sea gate is another one of the names. they trade near single digit multiples. i think there's plenty of upside along the way. they take a little bit of seasonality. i think the names have a lot more on the upside. >> my fear for a while now in seagate has been the space to commoditize. i think there was a conference last year when the stock was $40. it's doubled since then. >> wow. >> it's interesting. pete has been spot on for this for a while. >> whole foods earnings are on deck for tomorrow. expecting a big dive in the stock after the results. that's next. everybody knows that. well, did you know that game show hosts should only host game shows? samantha, do you take kevin as your lawfully wedded husband... or would you rather have a new caaaaaar!!!!

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shares of whole foods down nearly 3% today and seeing a near 10% move. mike, what did you see? >> we saw two and half times the average daily options volume. the contract that saw the most opening buying activity was the weekly 44 puts traders were paying about 25 cents for those. those were bearish bets that the

stock could decline by the end of the week. this stock typically moves almost 9% after earnings. right now the options markets are implying a move of about 6.4%. slightly less than what you would expect. it would seem they're taking advantage of the fact those options are cheaper. just in case when the stock was about 25% than it is now continues after earnings. >> quite a fall from october. down 25%. >> a big short interest. they have been right for a long time. i'm in the whole foods camp. >> meaning you like it? >> yeah. i know the whole paycheck and stuff. if you get the selloff mike things you're going to get i think you're going to buy that stock. >> interesting. thank you. check out the website.

optionsaction.cnbc.com. let's go to kelly live at the conference with the details. >> melissa, thanks. dooifd eihorn saying we might be in the second biggest technology bubble and describing the fact that his firm was shorting a basket of so-called momentum stocks including many tech names. of course, we drew criticism but a lot of notice, because this is the sentiment that has prevailed. today he got specific about one of the components of that basket which is athena health. now it's been clobbered in after hours trading. he went on a detailed slide by slide analysis of what is wrong with the current valuations. in general, he said conventional modeling breakis down completel and he thinks it's poised to fall 80%, perhaps more in the coming years. the earnings estimates are getting lower. he put up a series of video

clips of ceo jonathan bush that made the ceo look foolish comparing his company to amazon among other sort of goofy things he said about athena or overoptimistic assumptions he's making about his model. a very powerful analysis of this company and why he believes it to be a short case. he did this in response to the feedback a feedback he got from the quar r quarterly letter. >> this is the only stock he's unveiling in that basket? >> that's right. he said at the beginning of the speech. he got sort of two types of feedback from that. on the one hand people criticizing his thesis and people complaining he didn't identify the components of the bubble basket. obviously, here's one. i think it's safe to assume there are other tech names part of the mix but we don't know what they are. >> kate kelly from the

conference today. we're seeing the reaction in the after hours. it's total eihorn having a detailed deck. >> yes. it sounds like it's purely a valuation. once it starts, you guys would be better able to speak on momentum. once it starts going -- >> sometimes it's hard to stop. coming up next, "mad money," talking about helping you dress for success at the top of the hour. we got your first coming back stay tuned. [ cows moo ] [ sizzling ] more rain... [ 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.

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time for the final trade around the horn. pete. >> i do like energy and the big oils. con koe phillips. >> i say sell your pumpkin futures before halloween. sell. >> karen. >> i brought some macy's in front of earnings next week and had some xrt puts against it. >> on that -- what is that

today -- sinco demayo. >> big fan. >> love those guys. >> konopko fills. >> i think it breaks through there. >> i'm melissa lee. 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. my job is not just to entertain you, but to educate and teach you. so call me at 1-800-743-cnbc, or tweet me @jimcramer. why cat