next biotech play. rbc names this company one company to own into year end. they just did a deal to acquire dishen muscular dystrophy drug. >> i want to know the p/e ratio on that one. >> well, high. >> thanks. "fast money" starts right now. i'm melissa lee. tim seymour, pete najarian, guy adami. some of the year's biggest winners are showing signs of slowing down. tesla, yahoo! u.s. steel and apple. let's kick takeoff with tesla. the stock has rallied since september 4th but since then down about 20%. >> they cut their numbers. what was interesting about that, they cut their numbers in half but left their overweight target and $320 price target on the

stock. a journal article yesterday saying this low gas price is going to squeeze them and finally seems to be coming home to roost. you trade it in against 225 on the long side. pete, if he's playing it he's doing it through options. he can own the stock with a tight stop. that being $225. >> these low gas prices are posing a problem for tesla. if part of the growth story is them selling the lower end cars. we saw prius sales down 14%. >> i agree with you. the efficiency in the entire auto sector is what's hurting them. you're getting 40 to 50 miles per gallon without having to go electric or into some renewables. this is what you expect. bmw, other players, they are talking about cooperating well. automakers. that's good news for the technology. to say this company should be trading like an automaker at these levels, it's a technology company and it's overpriced.

>> it's a technology company but it's also trading off exactly what you are talking about. i think the oil prices. hey, look. bmw will be competition. we all know competition is coming out there. you brought a prius as well. and the efficiency. they come out with the aluminum body. but is the demand still there when oil prices aren't as high? are people willing to buy bigger suvs, those gas guzzlers. i think that does hurt tesla. we see a rebound. oil start to move back up. that's obviously going to be very good for tesla as well as -- >> where do we go with tesla? what do you trade against? is it going to hit its previous 52-week low which is 131 or so? >> i agree with guy. 220 is the level it's bounced off of. it's tested there in the backdrop where we've endured lower oil prices. >> do we really think that a person who buys a $125,000 car worries about the price of gas?

>> no. >> that's why the sell-off based on that is crazy. you don't buy tesla at these valuations because it's going to be an unbelievable car company. >> parth of the growth story is selling more mainstream vehicles -- >> at these valuations, you aren't buying tesla for the -- >> you are buying it for the -- >> are you -- >> i do not own it, but i would buy it right here. u.s. steel. that stock surged 55% from january 1st until its high september 17th. since then the stock is down almost 30%. tim? >> this stock is meandering down at the bottom of a range. it's held the 200 every time. between 45 and 25, around 27 it's bouncing. i think you buy here. u.s. steel. look at u.s. steelmakers versus global competitors. hrc hot rolled coil. a couple of things happening. significant consolidation and protection of this market.

the u.s. makers get into this high strength steel market. there's a lot of up side for these guys. even in the back drop. we know what's going on with iron ore prices. i think you tack a bite here. >> october production was basically flat. could trade down to 31 1/2. i think it traded 30 and change. had a nice day today. you can trade it from the long side now. this stock textbook traded up to 45 bucks which is where we collapsed from in the middle of 2011. if you believe in the story, then here at 31 or 32 1/2, i think you get long. >> if you get any type of snap back, this is the name to be in for a trade only. i'd not only u.s. steel over the next year but over the next 90 days, the way this is trading, i think you get a real snap back rally. >> wouldn't you be concerned about china? >> yes. >> why would i want -- >> if you think china slowly at all. >> that's why i am saying 90

days versus a year. a year from now, i don't want to be in it. >> i don't want to be in it now. >> look at every steel company out of this country. it's down off its highs. the u.s. steel market is different. they are insulated. they've shown that. >> i would rather be in alcoa than -- >> the auto plays. would you rather. >> -- before i'd go to u.s. steel. >> would you rather? >> pete -- >> always willing to play. always willing to play the game. anyway, yahoo! rallied 28%. the stock has stalled a bit since then down more than 2%. that may not be a lot here, pete, but it's interesting that both yahoo! and alibaba topped around the same time. >> it makes sense. alibaba gets up to 120.

i expect some sort of a pause. in both names, i think they go a lot higher. yahoo! 55 is not unreasonable. $60 is not completely ot of question by the end of january. to get here and pause and hold on to this 50 number. yahoo! japan, the alibaba and the cash, all of those tell me the core business may not be as valued as a lot of people think it is but it's got some value and sometimes that's not priced good enough. >> you stand by your $55? >> i'm a little different. i think around 50, you get out, even though alibaba is a driver. some would argue it's expensive whereas yahoo! on valuation, not at all. i agree with you there. the driver for yahoo! has been alibaba. >> i think alibaba is going to 150. i like the fact that they have all the international expansion in front of them for that reason, i like alibaba. it's cheap relative to what they can do. i think it's cheap.

>> let's talk apple rebounding up about 1% as it recovers from two days of losses. this is following the big run in the last three months. the stock up 17%. so are apple's gains over for the year? joining me is a top ranked analyst for the last 13 years. tony, always good to see you. >> pleasure to be here. >> have we seen the highs for apple for this year at least? >> i don't think so. i think the stock continues to climb higher. the dilemma with apple is many investors are playing this as an iphone 6 cycle trade. the worry ultimately is once numbers start going up, people are going to look to next year and say, oh, the numbers are going to go down. apple can't sell this many iphones next year and accordingly, the stock won't work. there's jitterness among investors who are saying, look, is the run over. investors going to start looking forward beyond the iphone 6 cycle in which case perhaps the stock doesn't work.

>> is there an air pocket in terms of pipeline? >> i think that remains to be seen. we think the watch as it stands now, what we know about it, is a modest contributor to revenue and profit. perhaps 3%. i think there are questions about whether apple might ultimately do something more in terms of a larger ipad or converged device which we think could have a significant contribution potentially going forward. for now, at a $200 billion company with 70% of the profits coming from the iphone it's very difficult to overcome any potential weakness you might have in the iphone. >> right now going forward you aren't as excited. but you seem like you have a lot of excitement. is it international expansion for them as well as they get bigger and deeper into china with these latest phones they've put out? >> i think that's the opportunity near term. here's my concern over the longer term which is the high end of the smartphone are ultimately a mature marketplace.

i think over time the replacement cycle will elongate. if you are used to consumers buying the phones every two years and that gets pushed out to 2 1/2 or 3 years, that's deaf stating to the economics of apple. iphone 6 moment sum strong. we're seeing it internationally and domestingally. over the long term that's the challenge. will consumers continue to want to epigrade at the same rate. if they don't that's going to put earnings pressure on the iphone and apple. >> your price target is 120 which would apply that you think apple is pretty much dead money if you are going to stick by this price target. >> it's difficult. what we're trying to signal to investors is this is a trade. we think there's strong norm momentum and the stock could go above our price target. what we're trying to signal to investors is that over the next several months, investors will start looking forward to next

year and then say, can this still work? when apple's earnings declined a couple of years ago, the stock traded at 10 times earnings. we believe that the majority of professional investors that we talk to today are playing the trade. and once earnings numbers get significantly high, that people think they can't keep going up, you'll see selling pressure on the stock. i don't think we're there yet. consensus is around 775. i think that number goes to 8 or above 8. once you get to that level it becomes difficult for apple to beat those numbers and becomes difficult for the stock to work. until then, the stock momentum likely continues. >> sounds like the clock is ticking. you are saying 2015 and then after that, who knows. >> absolutely. we could get more information. could be new product introductions. in the absence of that, a $200 billion company dependen on the iphone where the replacement cycle is likely to lengthen,

that's a tough investment. toni, thank you. apple we've talked about forever. toni is the man on this. the name that sticks ot is qualco qualcomm. you saw the flush, november 5th to november 6th. traded out at 67 1/2 on 70 million shares. you've seen moves like this in qualcomm. it's an opportunity. qualcomm's bounced nicely off of that. i think that run continues. >> noted that this morning. i'll go back to apple. it's a stock you don't play in earnings. a lot of earnings multiple pressure on the stock. used to be a stock you didn't play into a new product release. this is something i think you have to question longer term home health kit, apple pay. these are reasons why i stay long the stock. but it's not dirt cheap. >> i think at this point, i'll stick by it, you sell one-third of it. even if it goes to 125.

or they have another product where they have this convergence between the macbook or oorks pad. i think this stock has a lot of headway. >> what's your trade? >> i don't feel there's a lot of headwinds. i disagree with anyone who thinks it's more expensive. there's plenty of growth. i've been following the options the whole way up. i look at the expansion and what they'll be able to do. and the shares they've been able to take with the six plus is something everybody discounted. doesn't seem to be factored in. when you look at the 130s, the 140s and 150s in the options in january, you'll be staggered to see how big those numbers are. >> isn't that just stock replacement? >> if they are, that's the worst trade they could ever do. if they are stock replacing way up at 140, that would be terrible. it's been a wild ride for pioneer national resources. had the oil sell-off forced the company to change its game plan?

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we've got an earnings alert on airbus. >> so the teen retailer aeropostale is posting a loss in line with estimates. also the eighth straight quarterly loss. pressured by slower mall traffic, higher ki eer discount lower demand. aeropostale currently down by 8%. the company's ceo did say in a statement that they ended the quarter with inventories well croy controlled, positioning them appropriately through the fourth quarter. maybe mixed signals. the verdict is minus 8% in the after hours. >> thanks, dom. >> that's quite a silver loaning. >> what do you expect the ceo to

say. oh, fantasting. we did a great job with the inventory. this whole space has been incredibly tough and lumpy. i would stay away from most of these names here. >> abercrombie and fitch today, an interesting move. nice reversal after missing on revenue. the ceo says the retailer expects conditions to remain difficult through the balance of the holiday quarter but turn arounds will continue to show improvements through 2015. >> nobody thought it was going to be 2015 until he said that. here's a name if you want to play retail that i'd look at. there's good risk/reward here. use roughly around 30. a company that had awful earnings. they accelerated their restructuring into this year. it's no longer a retail store but a single -- >> you look at the price action.

52-week low and reverses. that's interesting when it does it on four, five times normal earning. abercrombie and fitch much more so than aeropostale. have you ever walked into -- >> well, no. i haven't walked into an abercrombie and fitch either. >> this is a company that needs to turn around. too little, too late. you work for a long time very successfully by the way. and it's not working for these guys. no reason to jump into this. tonight moves after hours breaks it lower. 3 bucks, i would not even touch it. microsoft hosting the annual shareholder meeting marking the first time nadella hosted the meeting. >> said everything they'd expect a ceo to say when talking about everything going on at the company. how focused they really are. we all know about the cloud.

the cloud has been the story. that's where he came from. he also went right back to mobile once again. you look at this company. this company truly is in transformation in my opinion. still enterprise but getting themselves away from pc. getting themselves away from windows and starting to refocus on the areas they see all of the growth. this company is trading near the $50 level which is the 52-week high. i think they get through that level. i love the direction of the company. >> it has nothing to do with the consumer. they continue to put money into with the acquisition of mine craft. wouldn't microsoft look better if they shed that business? >> they are trying to get away from an annuity based business into a high ir growth business. i would have put this in the first segment of the stocks going nowhere. 47 to 50 bucks since the summer with the rest of the market racing well ahead of it. not the growth or valuation. no need to be there. >> software, i appreciate the fact they finally are willing to

have software that's going to run on other platforms. that is really interesting because that's not microsoft's way but with nadella, that is microsoft's new way. >> if it's not microsoft's new way but a lot of that is in the stock at this point. so for me, i'd rather see it lower 40s i'd get back in and more for the dividend on that. lower 40s i'd much rather find an entry there. >> microsoft thought 50 bucks. here we are now. this level it gets tough for them. i don't think it's an expensive stock. >> i think it goes higher. i don't think you get that toont to get it loyer. jpm yesterday put a $53 price tag an it. coming up next, the race to fight against rare diseases. one company is placing big bets an a new deal to expand its portfolio of new drugs. we're joined live by biomarin's

ceo. and we've got the ceo of integrated oil company pioneer natural resources for an exclusive interview. it's ahead. from record-breaking highs to major market meltdowns, every night the "fast money" team makes sense of the trades serving up in-depth analysis and actionable advice. >> we still see these names rebounding. >> all to help you prepare for the next trading day. >> do you want to touch it here? no, not when theoretically prices can go lower. >> i don't think there's real go get 'em bull buying here. >> have a question? tweet us at cnbcfastmoney.

a new biotech deal in the race to take on rare disease. shares of biomarin popping since its deal to acquire prosens hoping that its drug for muscular dystrophy will be approved next year. also joining susmeg terrell. j.j., thanks for coming in. i want to ask you first about this deal.

a lot of analysts were saying it's interesting you went for prosensa as opposed to another drugmaker with similar drugs out there. some speculation because prosensa has a stronger ip, intellectual property. what's the thinking behind this and how comfortable are you about this drug getting approved given it faced some late stage setbacks. >> thank you for that question. so the ip situation, we believe that prosensa has strong freedom to operate in many parts of the world. prosensa already started filing for any product in history in the u.s. for muscular dystrophy. over 300 patients treated and 450 patients use the therapy.

we believe that between the phase two and phase three data there is a totality of the areas result in what we believe is a good chance to get approval in u.s. and in europe next year or early 2016. >> the phase three trial did fail. glaxosmithkline unwound a partnership. so why now? why buy the company before it gets fda approval if it's going to get fda approval? >> because we believe that the valuation of the company might be somewhat different. different circumstances. we might not be able to afford that. but i think if you look at the history of the recent report in the past 25 years, often drugs approved by the fda, two-thirds of them were approved when they actually had clinical data results that were not absolutely clear cut.

our first drug was approved by the fda while it missed its proper end point in the phase three trial. we have experience with negotiating with regulatory authorities to get these drugs approved, even if the data set is not clear cut. >> will we get an answer on approval by the end of next year? >> we hope. the plan is -- it's a roll iing- we anticipate the filing to be completed by the end of the first kwfquarter of next year. the drug already has breakthrough studies and product review, so it could be approved if the finding is done by march could indeed be approved in the u.s. in terms of accelerated approval by the end of next year. >> let's talk about your pipeline. one reason so many are excited about your company is you have five pipeline readouts coming. it's a stacked pipeline.

in terms of what is coming next, biomarin 190 which is the drug for an inherited disease. after phase one or phase two you get approval right away because it's so rare because the disease is so devastating. what can you tell us about the status of that and whether you can bypass phase three? >> so this is an absolutely devastating neurodegenerative sdis order. affects kids, onset around 4. they die by age 12, 14. absolutely devastating disorder. we are almost done, probably the end of this month and the patient in the ongoing study, about 24 patients. it's our first in-patient trial. since it's such a devastating disorder, the european authorities, we have had less contact with the u.s. yoorn authorities have told us

if the results are impressive enough, that will be the only study we'll have to do. we anticipate having the data. we only have one year of history before we analyze the data. we'll have the results in the second half of next year and see what happens after that. >> another program people are really excited about is your cond ra plasia program. they are working on a drug to treat dwarfism. tell us about that. how big a catalyst this could be. >> this is the next data read. we almost also finished on the current phase two trial with three different doses. last patient should be enrolled by the end of this month. we want six months of that so the results will be available very likely out of second quarter of next year. we have very exciting -- we turn the dwarf mice into almost normal mice. we made healthy monkeys taller.

so -- it's more than justice being short. they have all sorts of problems. so we are very excited about it. >> j.j., thanks for coming by, the ceo of biomarin. >> why wait? a $700 million deal would have been $2.5 billion, more than double. you would have been competing against three or four different companies. i have the utmost respect. it takes courage and guts to do that. that said the stock has gone from 55 to 90 in a matter of months. it is expensive on valuation if you look at it. but doesn't have a huge short interest. i do think the stock is really interesting. >> this was a stock that had moved -- in july, a $55 stock on a pipeline and cost cutting and

operational success. if you think they have a late stage drug, this is something on a risk/reward, this stock gives you a lot of upside and maybe it's a risky bet but a lot of success if they are successful. with opec's decision cause a major pullback in the u.s. shale industry? we've got an exclusive interview with pioneer natural resources's ceo. and b.k. is taking a closer look at the chart. you have to see it later on. e! make faster, smarter, better trading decisions with vectorvest mobile. the most powerful app or managing your portfolio from the palm of your hand. only vectorvest mobile analyzes, ranks and graphs... ...over 16,000 stocks worldwide, everyday,... ...and gives you clear buy, sell, hold recommendations... ...on every stock; anytime, anywhere. vectorvest mobile comes free with your vectorvest trial. get it now! visit vectorvest.com/mobile to get started

still ahead -- falling oil prices sending shock waves through the energy industry. we'll go to the front lines with pioneer natural. and they are known for shaking things up at public companies. we'll tell you the impact they're having in the private equity world. time for pops and drops. big movers of the day. a drop for taser down 2%. >> we just talked about this stock. the wearable cameras, big business.

also a 50 times forward p/e. that knocks the stock back today. any pullback, you buy this one. a drop for brown forman. >> how do you trade the stock? trade it up here in 2012. we trade it right back to the 97 level and sell it off. buy the breakout above 98 or wait for a pullback down to 86 1/2. a pop for blackberry. >> $10 is becoming formidable support in this name. up 3% today. i'm still long calls. i think it's got a lot more legs. if i were microsoft, i'd be looking at blackberry before the end of the year. >> pop for microchip. >> this is the exact company everybody got spooked when you go back to october and talk about the slowdown and guidance. that spooked the entire sector. they've said guidance looks better. look at the chip industry, intel, micron.

chips moving to the upside. >> now to the oil trade. although bounce again today, could the fallout from opec's decision not to cut oil production. let's torn a company that operates in both bases among others. joining me is the ceo of pioneer natural resources, scott sheffield. >> thank you, melissa. pleasure to be here. >> we're wondering what the impact could be. it crystallizes what the impact might be right now. and that is the well permits data. don 40% in november. how do you interpret that? is that a pause, one that will be longer lasting in this energy boom we've seen since 2007? >> yes, melissa. i think as we saw last week, opec actions surprised a lot of people. and this country has gone from 5 million barrels a day to 9

million barrels a day. we are competing against opec. opec has declared war, especially saudi arabia on the u.s. oil and gas industry. 67 to $70 a barrel, which is where we are now, we will see a pullback in rig activity. it will start probably january, february and march next year. probably see a 15% to 20% pullback in activity. even at $70 a barrel, this country can still grow. our hands are tied behind our back. we're not competing pricewise with opec. we van export ban on crude oil. we haven't been goetting the right world price. we can compete as much as ever with opec. >> a lot of other ceos are calling for that ban to be lifted. in this world in which the export ban is in place, how does this change the way you plan for the year? we've got an expansion planned

which could cost up to $2 billion. at what price point do you say, you know what? we may have to re-evaluate our capacity expansion? >> yes, after going through several donturns over the last 35 years of my career, we're probably well positioned better than any oil and gas independent in this country. right now we have $1.5 billion of cash on the balance sheet. selling our pipeline system by the end of first quarter and hope to enter this lower price period with no debt on the balance sheet. it gives us huge financial flexibility. originally, we were going to add another ten rigs in the permian basin, midland basin. today we'll decide some time in january and early february to announce our budgets. we're still going to be growing 16% to 21% per year. pioneer is going to have a tremendous growth profile over the next 24 months.

>> basically to boil it down and get the bottom line, you are planning ten rigs but come january, february, you could re-evaluate that. if oil prices are where they are right now, scott, what would that ten rig number turn into? >> we're running over 40 rigs today. we were going to add another ten rigs. we're trying to sdud do we keep it at 40? add foror five rigs. this has only been a week since the opec meeting. we're going to watch where things go. do they stabilize at 60 or 70? brent gets up to $80 a barrel in 2016 but wti doesn't get to $80 until 2021. so we've got to look at the price. next year look at the futures market. we are very well hedged in both 2015 and 16. 85%. and 55%. so again, it will be somewhere in that 40 to 45 rig profile. we could add some.

we could stay flat. >> when some people see oil price goes lower, they take a look at assets which may be cheaper to them and see opportunities. take a listen to what the ceo of exxonmobil had to say about what the impact of low oil prices could be for him. >> return to fundamentals for us. it's important about watching your cash. watching your investment decisions, being very disciplined about everything and looking for opportunities that may present themselves in an environment like this. >> you have a $1.5 billion in cash on the balance sheet. is this a teime to gou out and acquire assets? >> we have over 20,000 drilling locations already that we paid very little capital for. essentially have zero basis. so pioneer is not really looking for opportunities. the majors will have to go out. i expect them to go out and buy

companies. several companies are overleveraged in this environment and will be more overleveraged. i think lots of opportunities for the exxons of the world, too quire. but pioneer, we have our number of locations. we don't need additional acreage and have over 100-year drilling territory. >> scott sheffield of pioneer natural resources. pxd. interesting that -- overleveraged companies. we talked about 17% of the high yield index is oil companies. >> pioneer is not the name you want to short. they are going to be the acquirer. they have a plenty of cash and are well run. i wouldn't go to that place. i think there will be opportunities out there. that being said, it looks like there may be a temporary floor here with those numbers coming down, permits coming down and with opec saying this is probably about the bottom.

>> listening to rex today from exaxo exxon, that was the first thing that came to my mind. they talk about opportunity. the opportunity is out there, if you want more assets. pioneer is not one looking for more assets but this is a chance to start making moves on great companies that own assets and need to get out because they're overleveraged. >> you go back to their quarter on november 4th. a strong quarter. logan industries killed everybody in this space. but i like the way exxon traded today. doesn't seem to want to go down. so i like exxonmobil here still. >> let's get some unusual activity. air products. >> this stock if you take a look at it, the stock was trading around 135, a little below that and buyers of the january 135 calls going back over -- the last couple of weeks. now today what are they doing? they are rolling up, taking off the profits on a good trade.

the 135s. selling those for $11 today. stocks up to 145. >> calls outnumbering output, 700 to 1? >> it gives you an idea of the kind of paper we're seeing today. they are rolling up to the 145s. looking for more from somebody already made money in a trade that seems to me like a good way to go. still ahead, it may be the golden age of the activist investor. could it be killing private equity deals and leaving trillions of dollars of cash on the table? more an that story next.

why are you laughing like a hyena? we've got work to do. >> that's a great job by crack staff. >> b.k. is looking at a chart that may indicate broader omens for the market. >> this chart got a lot of play today. i wouldn't trade completely off it. but the hindenburg omen. you've seen some really big market drops when you get these. what's interesting is the

internals of it. an awful lot of 52-week highs and new 52-week lows which tells me the market is confused. it's confused about the next direction. i wouldn't get so apocalyptic about there's a crash coming. this is how you use it. but i would also say just be careful because market participants aren't really sure which way we're going to go here. there's not consensus. >> basically it's bunk? >> i don't think it's bunk. no. >> it's had a couple missignals. >> a couple of missed signals. >> using this as a guide post. the market is showing some extremes at both sides. >> right, and -- what can happen with that is you can have massive market moves, typically to the down side so be careful. that's what i'm saying. >> nice, buddy. might be the goilden age for

activist investors but could it be killing private equity? >> the economy is starting to do much better. there's a lot of liquidity in companies. you have $2 trillion of cash, and so in a normal m&a cycle, you see companies buying similar kinds of businesses that make sense where they can take cost out and get positive synergies. that part of the cycle is what's going on now. >> but could the cycle be halted? joining us for the first time since joining the network this week is cnbc.com's senior editor at large. welcome to cnbc. welcome to the show. >> first time. >> applause. >> this came to me. cool. look at -- >> spit it out. >> you can't spell ice without

eric. >> he's ice. >> ice, ice baby. >> maverick. >> you want maverick? >> let's move on. >> he was talking about deals getting done by companies in that same space because if you are looking at m&a deals up high. private equity takeouts of private companies basically crash. they are effectively 1/12 the number they were in 2007. you get in a month what you were getting in a year. they have so many ways of not letting a company, a management team, get a sweet deal, do an exclusive deal to get a golden parachute deal and get rid of that company. they are stuck with it. all these private equity companies have only been able to trade their own companies with other p/e firms. it's just a portfolio swap. you are seeing this big bubble with companies they just can't get publicly. >> wouldn't you make an argument that on the other side of this trade, it's never been a better

environment for private equity guys to sell and essentially sell out an deals and find buyers. it may be these activists. >> right. this is the best time to sell because you're in that bubble situation. if you are blackstone, kkr. they put in so much money. that equity is zero because the bonds are 50 cents on the dollar. the money is there. if you can sell it to somebody. what does that mean about the stocks? are you going to be a kkr investor if they are putting money in things they have to put it somewhere but not necessarily the best trades. >> are they as good during the peak and are pensions continuing to flow? >> you look at samson. that's not what we saw. if you think they're going to play out for the next five years. is that the place you want to be when just the situation, the structural environment doesn't allow them to get the sweet deals in the public markets. >> you go to blackstone. bottomed out in may.

bottomed out at the same levels. they have a conference coming up. i think it trades 11 1/2, 12 times forward earn,s. if you like the space, blackstone is very interesting. >> eric, thank you. >> no, no, ice. >> eric otherwise known now as ice. >> we'll get him a new song as well. >> there you go. "ice, ice baby." the semiconductor company that one trader thinks will see a big jump heading into january. that's next. here's a question for you: when electricity is generated with natural gas instead of today's most used source, how much are co2 emissions reduced? up to 30%? 45%? 60%? the answer is... up to 60% less. and that's a big reason why the u.s. is a world leader in reducing co2 emissions. take the energy quiz -- round 2. energy lives here.

semiconductors have been hot. >> owen semiconductor was where we saw a lot of action. not the superulative pete was referring to earlier but the call to put ratio over 500 to 1. we were seeing most of that activity was the january 10 calls paying about 37 cents for those, a bet the stock would be up at least 6% by january expiration or 45 days from now. this is a stock up 18% since they announced earnings at the end of october and over 40 since

october lows. so playing it with calls is probably the right way to go. >> so o.n. you had microchip. semiconductor index. great day. >> micron on paper as well today, i love the semis. i was going back and forth with one of my favorite twitter people kitty cat. >> what? >> kitty cat. >> and -- >> the greatest out of bay area california. >> i've met her. we know each other pretty well. no, going back and forth about how excited i am about the chips because they keep on buying them and going higher. >> does kitty like the chips as well? >> kitty is right there with my. >> kitty is on the chips. >> "wedding crashers" toward the end of the movie, call me cat. call me kitty cat. >> you know what i'm talking

about. >> the volume flush, the bounce since -- >> mike khouw, thank you. check out our live show 5:30 p.m. an fridays. and tomorrow a cnbc exclusive. solar city's lyndon rive. that's tomorrow on "fast money." meantime your first look at tomorrow when we come right back. stay tuned.

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does it have the pipeline to keep burning up wall street? i'll get the straight dope from the ceo. "mad money" is next. time for the final trade. around the horn. tim? >> u.s. steel is a buy. bounced off the 200. seeing structural changes in the industry. stay there. >> pit boss? >> i like csx. cfo talking in a meeting today about what they see in the future. the volumes remain solid for them. i like this company going forward. there's a lot more upside. >> brian kelly? >> i still like shiny rocks, including silver. i think if it gets through 16, that's a great buy. >> guy. >> the kitty cat thing, meow.

>> we brought up pilgrim's pride. and look at that move today up 8%. gobble, gobble. happy turkey day. i think it's going to 40 bucks. >> i'm melissa lee. see you back more "fast money", jim cramer starts right now. \s. 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 craiger. welcome to "mad money." welcome to cramerica. my job is not just to teach you, but also to entertain and to ed ka illustrate so call me 1-800-734-cnbc or tweet m me