>> exactly that. yield stocks and tech stocks working. until that changes, we're in the same role. >> guys, thank you so much for joining us here on "closing bel bell." "fast money" begins now. "fast money" starts right now. i'm melissa lee and this is a live picture of hofstra university, where in just four hours from now, history will be made. hillary clinton and donald trump will go face-to-face for the first time. the total audience could exceed 100 million viewers. super bowl like numbers. to say the whole world might be watching could be understating the case. john harwood with what wall street is looking for. >> melissa, this hasn't been a campaign principally focused on issues. it's been about personality, temperament, who is suited for the oval office, who isn't. these two candidates exchange their views for 90 minutes tonight. the biggest microsoft either has

been under. first of all, let's talk about the issue of wall street regulation. dodd/frank. donald trump wants to get rid of it, repeal it. hillary clinton says she wants to strengthen it. you talk about tax rates. key interest to lots of investors. donald trump wants to take the top rate down from 39.6 to 33%. hillary clinton wants to raise it to -- raise revenue for all of the spending she wants to do to 43.6%. a state tax. another area. donald trump wants to get rid of the estate tax. hillary clinton wants to take the rate, currently in law, at 40% up to 65% for the wealthiest estates. that is estates with couples valued at over $1 billion. and finally, there is the issue of uncertainty, which is always a matter that wall street cares about, whenever we have a change of administrations. what kind of change would donald trump bring? nobody can predict that with certainty. with hillary clinton, she is much more of a known quantity. her husband served as president

for eight years, she served as part of the obama administration for half of its time in office. so hillary clinton represents a little bit more predictability than donald trump does, and all of that is going to be laid out for 90 minutes tonight before, as you said, that audience that may be 100 million people or more. that's the vast majority, overwhelming majority, of the american electorate. >> you know, john, we were speaking to kelly o'donnell of nbc news on "power lunch" saying the wild card here is trump could be the kinder jebtler trump and that may put hillary clinton on guard. maybe the old donald trump won't be on that stage tonight. >> well, i think -- hillary clinton has prepared for either one. but a more sedate, more presidential, a calmer donald trump would be in the interest of donald trump. he needs to try to add voters that he doesn't now have. his principle targets are college-educated whites, especially women who have turned

away in very large numbers. and by showing a steadier temperament and somewhat more knowledge of issues than he's displayed so far, he could help himself. >> john, thank you. john harwood geared up for tonight's debate. stocks falling 1% today. the question to the desk is simple. as people who manage money, what are you watching for tonight? what are you buying, selling, potentially, off of tonight's debate? tim, we cook it off with you. >> well, i think the whole global protectionist thing is a theme, whether this could play out -- why we have legislators there to protect the american people from policy that may be one man or woman wants. when i look at the -- kind of the cross border trades and currency, never have rates have more at stake than they do in this debate. if we want to call it tonight. i think that's a big part of tonight. >> so what does that mean in terms of how you think about trades? >> when i look at emerging markets, i think i sold stuff into the close today. in fact, i sold some upside calls, places where i think actually in the short run i

think were capped. and i think we're in a place where there is stuff i want owned. but i actually see volatility this week and i think some of this is even just a post fed, post boj hangover and the debate. again, i think there is a number of factors at work here and for me meant to fade some of this stuff. >> yeah. >> yeah, i agree with the sort of move here. take a sidestep from it. look, tonight is important. there is no doubt about it. but i do not believe you'll have investors come crawling out and take positions based on what the outcome of this debate is. look, chris krueger is our dc policy guy and basically said all trump has to do is not screw up. if he comes out and doesn't screw up and change the way i look at the world. i do agree with tim, the market is going to come in more. i think we're going to test at 21 hundred levels. i would be accumulating, technology, growth names that i've been really following for the past several months. >> with financials under so much under late, wells fargo or

deutsche bank, the news overnight. that is key in terms of dodd/frank. almost a binary outcome. congress aside, and whether it can actually get something done, there are views on dodd/frank are almost binary. >> and also, if you think about trump's statements about janet yellen, you know, she serves at the pleasure of the president. i don't know if -- if he were to really do what -- you know, what he thinks should be done, which i'm skeptical of, that happening. removing her would be an interesting move, and probably the banks might react well on that if he's saying you've got to raise interest rates. that is so many steps down the road, though. you know, and i think that -- i agree with these guys. come tomorrow, i don't think we're going to have a lot more clarity on where this is going to go. unless we see something -- way on the outside of -- >> another thing important to consider. in the last couple weeks, we have seen donald trump actually come neck and neck with hillary rodham clinton.

we have seen volatility in the markets. the s&p only down 2% from the all-time highs it made last month. but we were in a slumber all summer long trading at a very tight range. and we have seen the volatility bands widen and some polls leading. here's the thing. if he doesn't only just not screw up and he starts to actually build a lead, i think you have to think about, okay, so what happens if he wins? what about a transition? who are the people that are going to be backing him? who are his economic advisers? he's listed 13 white really rich men as his economic advisers. just like him. all right? when you think about it. he hasn't had a single economist who is advising the president over the last eight presidents that has come out and supported him, okay? there is no real policy other than to actually help his cronies. i sound a little part partisan. >> pa region -- >> don't be a jerk. what i'm saying -- the transition, if he were to win

could be very volatile. >> we're not trying to predict who is going to win, not trying to say -- who is better for the markets. but the point -- volatility increase if his odds are going to rise. >> that's the question. if he comes out gang bus itters, there is no question volt illustrate is going to increase. uncertainty in the last question we had in the market will come back. it will come into investors eyes -- >> you think it's here today? >> i think it's there, but i think what we're saying is, if the outcome of tonight's event is really, really to donald trump's side, the volatility will spike. it will be great. i don't think today's volatility is in relation to that much, all. the buyers to decide. i do believe deutsche bank commentary came into valuations, et cetera. i agree with dan. if things go trump's side tonight, it could be extreme. >> there are two things. first of all, these are the two least-liked candidates. neither candidate is good for

the market. let's be clear. even hillary, which is what people want and that's con newt -- this ensuring gridlock in washington. people are going to be that much more dug. and presidential elections don't get -- you know, wider in terms -- this is only going to get closer. that's the rule, not the exception. so volatility something you have to be long into this event. the market had its rally over the last -- >> i have a huge question for you banking people. how has dodd frank been bad? we have deutsche bank going to zero right now in -- under a lot of circumstances, that would be kind of -- having a scenario where global banks are freaking out. because we've had dodd/frank, because our balance sheets over here on our u.s. banks -- we have higher capital, everything is okay, right? for now. okay? our u.s. banks. >> are you saying that it will be better for banks? it will be better for the market if hillary clinton strengthens -- >> since obama took over, 200%.

i understand gdp is up 1%. >> wait, wait, wait. >> if we had four more years of what obama has had for the last seven and a half years, for our economy and our for our stock market -- >> that's almost impossible, because the fed is pushing on a string and there is so much bad earnings, you know -- momentum. there is a lack thereof. >> do you think the fed is going to have a easier time normali normalizing interest rates with hillary clinton or donald trump? it's an easy answer. >> what i think is you're getting very bullish on our economy that i don't think you understand -- >> i am not -- >> what is the answer? >> donald trump has already won, then get ready, okay? get ready for what we had in january and february of this year, because the world is not going to be ready for that sort of volatility as we normalize interest rates. it's just not. that's my personal opinion. i would be extremely negative. if the fed were to raise in mid december, i think it's going to be okay. i don't think we're going to have this disaster of the market volatility like we had in january or february.

>> right. you're saying that the market is going to be volatile, no matter what, given the fact we're in the face of a rate move, right? >> no, i think he's -- >> the donald trump presidency and what that means for corporate america, lump that together, stir it up in november and you've got massive uncertainty. >> no. what i'm saying is very simple, okay? if trump wins, and we start to normalize, things are going to be very volatile. i think we have a much better chance if mrs. clinton wins and we start to normalize interest rate policy of not having extreme volatility like had in q 1 in twisks. >> do you believe dodd frank was a good thing? >> i'm saying deutsche bank, its equity value is worth of that twitter's. >> i understand -- i understand what you're saying. but if i said to you, there's a sector out there and it's already being regulated right now, and what we're going to do is strengthen the regulation, how do you think the sector is going to react? what would you say? >> selling off right now. >> right, right. it would be negative. i don't care what the sector is.

it just happened to be financial -- no? >> guys -- have bank stocks and health care stocks actually held in here over the last couple months? >> let's look at the impact of the corporate bonds. >> you have it is, all right, that sounds bad. where are they valued? where are they valued going into that scenario? do they already reflect that potential outcome. >> look at the massive outcome that it has and other instruments. look at the corporate bond market, the high yield market from a liquidity perspective. when you look at the market -- >> i don't understand what you're saying. >> you look at the restrictions the banks have on their balance sheets, precrisis. >> no liberty i hadty in the market. >> you need inventories to hold it. we have created etfs and mutual funds. >> you sound like carl icahn now. >> last point and we wrap it up. >> this is about tonight's debate and the markets tomorrow. >> yes. >> what i see happening is, this is going to get tighter and

tighter. and what scares me the most, we get to a place where like five out of the last six elections, democrats win the popular vote and the electoral vote goes to the republicans, and we have a supreme court that's got eight people on it. guess what? we've got a big problem in this country. and, again, it speaks to all the systemic problems in washington. how do we have eight supreme court justices? >> i'm going to go around the horn here and ask you guys to make a prediction. what happens tomorrow if we have a broad a broader market trading higher, lower, what the reaction is, dan. >> if trump wins this and it's unanimous, the markets are going to be lower and get more volatile. >> agree. >> i agree with that. >> tim. >> if trump wins tomorrow, the mexican pesos is going to go to 21 and it's a time to buy. some of these trades overshot territory. that is bun to watch. >> what's the setup. >> do not miss cnbc's full coverage of the president aldebates tonight at 9:00 p.m. eastern time. >> twitter soaring. not only is disney looking at the social giant, but microsoft is too.

are we witnessing the start of a bidding war, and is it too late to buy the stock? plus, amazon set to soar 20%. we'll tell you what's got him so bullish. and one stock up 80% so far this year and a top technician says more room to run. we'll tell you the stock when "fast money" returns.

welcome back to "fast money." we've got breaking news on hedge fund giant peri capital. kait. >> hey, melissa. this difficult hedgefund and general market environment marks another casualty if the flagship of perry capital. according to a letter reviewed by cnbc and dated today, richard perry says that after 28 years, he is closing down his flagship fund at perry capital. his words, "although i continue to believe very strongly in our investments, process and team, the industry and market headwinds against us have been strong and timing and success in our positions too unpredictab unpredictable." the word, perry capital has having a difficult year in terms of returns. if you take a look at some of their top holdings, these are

holdings we say see pressure on as perry try to say liquidate its positions and goes up to 12 months or longer. we're talking about some names like at&t, air cap, st. adjudicate, johnson & johnson, a number of things we talk about all of the time here. ball corp. so those may be names to watch, according to the last filing period, which, of course, could be dated, melissa. very interesting they're closing down the very same day we hear that howard, the enormous macro fund. >> kate kelly with news on perry capital, closing down the flagship fund, karen. >> yeah, well, i've got to think at this point, first of all, there's no way that they didn't already position themselves to do what they wanted to do before putting this out. many of these names are very liquid so i've got to think they're in good shape to do that. it is so interesting, though,

what the evolution of the hedge fund business now and rates here that model is broken. >> right. >> well, it's not just that. look at how activists have had a hard time. look how the s.e.c. is all over suspicious trading. these are stories we cover every night. the hedge fund business is a tough business. you know what i mean? so that's why i think you're going to continue to see the big getting bigger and, you know -- >> yeah, i think the most important thing, you hear guys coming on the show felting very extensionist about what they do. effectively, it's i can't do what i do. and in this environment -- and, you know, i'm not sure there is a lot of sympathy for that, and also at a time when rates for the entire industry are compressed and etfs outperforming. >> bad news on the global macro fund, perry capital and then shorts big flecken stein. nobody -- >> one really important thing, though, hedge funds that have overseas money needs to be repatriated in 2017. you need to pay taxes on it.

an enormous amount of money coming back and needs to be liquidated. twitter shares jumping after you add microsoft to the number of companies looking at the social giant. how high could shares go? i'm melissa lee. you're watching "fast money" here on cnbc first in business worldwide. in the meantime, here's what else is coming up. crude is doing something very strange ahead of a key oil producer meeting. and it's got the commodities king, dennis gartman, making a bold call. he'll be here to explain. plus, a handledful of stocks have gone wild. >> it's not the only [ bleep ], but let's focus on [ bleep ] today. this is your [ bleep ]. look, we see you're still in a [ bleep ]. but this is a big [ bleep ] of -- >> despite the profane moves, a couple might still be worth buying and we'll tell you which ones when "fast money" returns. . orchestration to our school and modernized our classroom experience. which is sick, unless you're the class clown. the cloud app ecosystem got everyone excited about learning again, instead of my hilarious pranks and shenanigans.

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espn is floundering. walt disney owns espn. ain't gonna happen. but it's not preposterous to think -- >> interesting. >> that the walt disney company -- just think about it. how they could integrate their entire sports package and other packages, as well. >> that was our own guy adami on friday. making his case that disney and twitter would be perfect for each other. maybe disney was watching too, because twitter shares -- in a bid for the social media giant. disney isn't the only potential buyer. david faber reported moments ago, you can add microsoft to the mix of companies looking at twitter. it's interesting, because we were -- we actually sort of made fun of guy. >> all of the time. >> more so than normal. >> you've been a seller of twitter. >> yay, look, i don't see it.

i don't see the practical application. i think it would be a reach and them trying to get some sort of defense to the cord-cutting phenomenon. the aspect of disney buying them, show me the reason and use especially if the valuation doesn't make sense. if they paid 26 bucks for twitter, let's just make an assumption on that, and dan and i were having this conversation last week that, would represent roughly 5.5 times revenue, i think. 20 times ebitda, almost exactly what microsoft paid for linked in. they're two entirety different companies. they're on different playing fields. so i don't believe anybody is going to come, especially media, and take this company down. >> you actually proposed viacom. so also in the media space. >> i said media company needs to own this and just a question -- if disney, you're talking about the sports element, the entertainment, who are the people really, you know, most avid folks on twitter for sure? i think viacom needs some identity uplift. and, again, this is what it wants the, a very kind of hip, young company that i think twitter -- >> you think -- tying itself to another sinking stone?

>> i don't know, except for the celebrities that count twitter as a place they would like to talk and communicate, and this is a place where i think viacom could do well. >> think about other media outlets, advertising on -- on someone else's product. >> it's going to be somebody who is agnostic to another media platform. i think it's going to be goggle and if i was google, i would get together and say we're going to make a knockout bid for these guys, snapchat, and have a mobile messaging, social platform. because they just miss social. >> and cheaper than anybody else. >> at the end of the day, isn't this just selling -- why can't it be a media company? they sell ads. they just need somebody who is going to it sell ads. >> twitter is now to me a very vulnerable spot. they are publicly out there. right? okay. so there's multiple people who are potentially interested. to me, that means the chance for a leak in the information float is very high. and if there is no deal, what

does that tell you? >> but they're not going out of business. ultimately, this is a company that continues, i think, to grow slowly. but -- not going anywhere. >> let's see what the options market says about twitter and a potential tie. dan has all of the activity. >> you know, it's interesting. some people were taking karen's view i think earlier today before that disney rumor came out, put volume two times average daily volume, largest drad on the day, a buy of 10,000 of the october 19 puts, when the stock was trading at 2190. and i think that might have been some protection against a long holder who has had this move over the last month or so with all of this rumor flow. but obviously, those puts became a lot cheaper very quickly once the stock closed at new highs. the stock is only up 1% on the year, people. this is the highest close in 2016. and here's one thing really important. david just mentioned this. this is the ipo back in late november of 2013, 26 bucks, a

$18 billion market cap. that's the price. that's the floor. to me, that board cannot sell below there, so you need a technology buyer to do it. just want to make one point. this is that compass, 39 hundred in late november. gained more than $1 trillion in market cap. back then, twitter had a $50 billion market cap. now we're arguing whether it's $17 billion or $20 billion for the thing i think we're arguing over a rounding error on the people that are going to buy this thing. so i think you're going to get at least 26 bucks. i think it's going to happen in the next couple months. >> for more, check out 5:30 eastern time on fridays. coming up, a number of stocks making crazy moves. in fact, you could say they've gone flat-outside wild. the names and whether the names are trading or fading these moves. that's next. i'm here at the td ameritrade trader offices. steve, other than making me move stuff,

what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place and lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim. td ameritrade.

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welcome back to "fast money." stocks selling off today ahead of the big presidential debate. the dow dropping triple digits, the s&p and nasdaq falling nearly 1%. here's what's coming up in the second half of "fast money." oil jumping ahead of an unofficial opec meeting this week. could it be a short squeeze. and will facebook's video controversy square away advertisers and wall street? our own julia boorstin with a special report. first we start with the markets, because even as the s&p feel nearly 1% today, still a number of stocks out there going absolutely wild, breaking it down is a man known to take a walk on the wild side himself, cnbc's dom chu. >> some traders could use a little more wild side when it comes to market volatility, because outside of a hasn'tful of events, markets generally calm. but a number of stocks showing some real up side momentum. we took a look at notable names within a broader large cap s&p or rather a russell 1,000.

we search for ones significantly above their 200-day moving average or longer term troubled line and among the names, dicks sporting goods, 32% above its moving average. chesapeake energy, 47% above. and review site yelp, 49% above its 200-day moving average. sprint shares, 61% above and a couple names aren't in the index, as well. action camera maker gopro around 31% higher than its trend long. and certify enat that therapeutics, muscular dystrophy treatments. melissa, for stocks like a go pro or chesapeake, there are longer-term down trends that they're still trying to recover a little from. back over to you guys. >> thanks,dom. so are these stocks surge -- are they worth a buy? let's go with rich ross. hi, rich.

>> hi, how are you? today we look at three stocks. the first one we're going to fade and the second two trade. let's start with dick's sporting goods. obviously the stock on a huge run here. i'm not a big fan of dick's sporting goods. first of all, it's a stock that broke out to an all-time high. discretionary as a group, not really a strong performer,up up less than 1%. and that's with amazon surging. so we know retail, not a great place to be. dick's is bucking that trend. here's what i don't like about the chart. three gaps. first, the break-away, the run-away and then the exhaustive gap and the potential for a false breakout to a new high with discretionary struggling. i don't like the stock. you are fading dick's. now a couple stocks i would trade. let's start with sprint here. i put a lot of lines on this chart to obscure the fact this is sprint. maybe not the best company, 3 of 27 analysts have a buy on it, not to say that analysts are wrong, but just to give you the potential that things could go in the other direction.

and that's what this chart is doing. what we like here is this big base breakout, right into a textbook flag. you see the breakout from that base there. i think the stock goes higher, once again, 25% short interest. holds the potential to provide that catalyst to get this stock going. and finally, the last name, go pro. this is a weekly chart, as we know. the stock hasn't been around that long. look at this big base of support, rounding into form for all of 2016. you've taken out that 50-week moving average and that horizontal resistance. so big base brokout. apparently there are some new products. 37% short interest. more than 1 in 3 shares are sold short. that provides the catalyst, potentially, to send this stock higher. so gopro and sprint were trading and dick's fading on the false break to an all-time high. >> should we invite rich over? >> i've got to tell you -- >> thank you. >> later. >> call me.

>> rich from evercorps isi. that doesn't mean we don't like his work and what he has said to us. what he has said is fade dick's and he would be long sprint, as well as gopro. >> definitely fade dick's. a big benefit from the closing of the tsa. the ebitda margins. the outdoor and golf business, not so good. >> i like sprint. i would fade dick's and gopro. i like the serepta. >> even here. >> yeah. >> agree. you know, dick's sporting goods, too expensive here. i don't get it. >> yeah. i would say sprint is a really interesting one. you know, the stock has actually had this run here. the results were okay. i think it's going to be very interesting to see at what cost to profitability did the acquisition of all of the iphone come. they were one of the early ones saying the upgrade was being good. promotional here. a company with 25% short interest, we know that soft bank

owns 85% of it, right? so shorts can kind of get the thing going here and there. i wouldn't be buying -- >> why does everybody not like dick's? in terms of the catalyst -- >> valuation. >> just on valuation. >> just on valuation. >> don't they get a tail wind from sports authority? >> he got that. but -- the sports authority went out of business because the business model is under pressure. >> it's a short-term -- >> we could -- >> this argument seven years ago about circuit city and best buy. >> right. >> i'm just saying -- >> and best buy was under pressure. >> best buy has come back also. >> have you not gone to a dick's? >> no -- >> who is doing that? >> i'm just saying -- >> best buy is still here. >> best buy, their business had shifted. there was a change in the underlying business. >> mobile shaved them. if you didn't have this smartphone mobile -- >> compare it to dick's -- >> nike, their direct to consumer business is growing, they're fabding their way around the amazon problem.

one of the things we have learned about amazon, the off-price and the online is what's going well. and dick's i think is caught in there. they're not selling off-price stuff and i can go online and do amazon prime and get the same sneakers tomorrow. i think it's a big issue for them. >> it's more -- much more sporting equipment. >> okay. i was going to ask you, what differentiates a dick's from, say -- a foot locker, where also the brands can go direct to consumer. >> yeah. although -- they can. that's been the argument. but foot locker -- they have just put up huge numbers. and part of it is, nike isn't quite as dominant as they were and foot locker is the place to go if you want to see under armour and adidas and puma. >> what about fedex and the trampoline? they talked about selling trampolines -- not selling, delivering them from amazon or whatever. and i think that trend -- i think that makes your case water than anything. if they can deliver trampolines. >> a single out trampolines in

their earnings conference call. >> why does that speak to -- >> people buying trampolines? is this a new trend? >> bigger sports products. >> they're buying it online from another -- as opposed to from dick's. >> okay. >> stay with us. >> live in the store. >> so the online business taking business from the store. >> exactly, yeah. you guys are -- >> speaking the same language here. >> way ahead of you. the traders are debating these stocks, but the big debate -- big one, comes in just a few hours when donald trump and hillary clinton take the stage. tune into c nbls's full coverage of the first presidential debate. that's tonight at 9:00 p.m. plus, a record number of traders shorting oil ahead of the meeting with many of the opec members. is the commodities game one of those betting against crude? he'll be here to explain when "fast money" returns. and facebook shares falling again today in the wake of last week's ad controversy. our very own julia boorstin sits down with the vice president of

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the horizon? we have the latest. jackie. >> good evening, melissa. nothing concrete out of the meeting so far. the opec secretary general said the oil market is in a state of flux and it's premature to say if members' positions are moving closer. but he's not exactly telling the market anything that it didn't already know. still, oil prices did rally today, any time conversations like this take place, there's always that chance that a decision could come, even if it's not expected, and, of course, that moves markets, and even seems to be a little discounted at this point. you can see a little sentiment change, though, still, in the latest commitment of traders' report from the cme. the numbers show that week on week, long positions and crude declined slightly, about 1%. but short positions, saw a substantial increase, roughly a 30% spike. while in absolute terms, still more long positions in the market. managed money shifting gears here. also remember, crude oil prices have been hugging $45, waiting

for the next catalyst, which is this meeting. so we do have to wait until the conclusion on wednesday, and if no action is taken, the market will likely take away that supply is going to continue to outweigh demand and prices could take another leg lower. >> all right. jackie deangelis, thank you. so is the move in oil nothing more than a short squeeze? let's get to dennis gartman, editor and publisher of "the gartman letter." what do you think? >> i think the market has been reasonably well balanced if you look at hard positions held by traders, commercial positions held by the hedgers. they have been equally balanced for a long period of time. i think we're all waiting for this meeting to end. in all probability, if history is any guide, there will be very little of any sort of agreement whatsoever. there will be some rhetoric talking about unification or unity amongst the producers. but on balance, the saudis and iranians do not like each other, never have liked each other and won't like each other in the future. they'll continue to fight for their own market share, looking

at each other as trying to take market share from the other nation. and i think in the end, we probably end up taking crude oil prices lower, not higher. i think 45 to $50 for spot wti, plus the contango, makes it extremely profitable for producers and fraccers and for people down in the other areas in texas, in eagle ford. they can make a fair amount of money at these prices. so i think on balance, once this meeting is out of the way and no agreement is arrived at, prices head lower. >> you think we're capped for the rest of the year? >> i think -- i really do. i think we're capped for the rest of the year. i think $50 at the very high for wti. i think $35 at the very low for wti and wouldn't be surprised if we try each end, just to see what exists there. i suspect on balance, if you had to trade right here at $45, if you had to make a bet, the bet should be that it's going to go lower. not dramatically so, but i think if you have to make the bet,

that's the bet to make. >> let's switch to the debates tonight, dennis. i know you're going to be watching. i'm curious in terms of your corner of the world and the assets you watch. what will you be listening for, what do you think could impact your markets? >> i'm not going to be a voter for mrs. clinton, no matter what happens. but i think she is clearly a better debater. far more readily be able to trap mr. -- i just went blank. mr. trump. yeah, mr. trump. he will go probably over the edge. and i think the market wants to see -- far more comfortable with mrs. clinton winning this, and winning the election. because we know what she's capable of doing. we know what she will do. he's a bit more of a wild card. >> are there specific things either candidate could propose that will impact crude or whether it be alternative energy or some sort of energy plan? >> well, clearly, he's going to be far more amenable to expandi expanding exploration here in

the united states. she, on the other hand, very reticent, very opposed to expansion of pipelines, drilling off shore. he's going to be far more friendly to the crude oil market and far more bearish to crude oil because it will allow for expansion of production. she, on the other hand, because she's going to inhibit production, could be bullish for the crude oil market. >> dennis, great to speak with you, thank you. what's interesting about crude today, we saw it go as high as 4% on wti and didn't see as much by way of move in the energy stocks. equities, that is, dan. >> yeah, well, you know, today -- if you look at the xle, we know that 35% or so is chevron. it's exxon, schlumberger and really range-bound here. we know that exxon has been wagon the sector the last few weeks. but you know, listen, i've got to tell you, i'm not really sure what dennis said over there. as far as i'm concerned, i've heard mr. trump say, we're going to bring back those fracking jobs and we're going to bring back those coal jobs.

it's a bunch of nonsense. i don't know what he's going to do for the energy complex. >> the move in crude today, the opposite of the move on friday. that's what's going on here. i was actually mildly encouraged by opec today. the ceo says the demand is steady. it will continue to happen until the second half of the year. >> look at names like hes, h-e-s, highly shorted names. anything that had a short interest was covered today. and names that didn't, the darling longs, if you will, like an f-a-n-g was underperforming. so i think people are concerned about this meeting and the potentials it may have. they don't want to be caught short in case something comes out, although it's highly unlikely that there is some sort of freeze. >> right. big news would be the outlier, right? >> right. >> the unexpected. >> definitely. in terms of the debate, oftentimes going into presidential cycles, we see outsized moves in alternative energy, like solar.

i know you've been in this space, tim. do you think there is going to be any impact? it just doesn't seem with energy prices as low, doesn't seem to be as much of a front-burner at all. >> and some of the -- some of the very high-profile solar missteps sort of -- i think make it not prime time for -- even for clinton. >> hey. if you haven't heard, tonight is the first presidential debate. cnbc's all over it. be sure to tune in tonight, 9:00 p.m. eastern time for full coverage. >> still ahead, the fallout over facebook's metric mishap. the vice president of marketing on how it's affecting the relationship with advertisers. you're watching "fast money." on cnbc. first in business worldwide.

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welcome back to "fast money." the price target to 960 publication bucks. a 20% jump. 49 million users, tracking for 12 million ads for 2016, saying the remaining addressable is another $60 million. tim. >> yeah, john blacklidge does interesting stuff on their deep

dive. he talks about the power of prime and it's more about, hey, prime users more likely to be streaming users. and makes that, you know, that crossover. so, in fact, how amazon could really be impeding heavily on the streaming of music. obviously on netflix. the businesses we don't always talk about with relation to amazon. so is this a place where you should put a higher multiple on the stock? i don't think so. i think it's pointing out that the prime business is the core to what they do in retail and it's going to get better. >> yeah, so it's the core to what they do in retail. the margins okay for the first time in years, and retail. but it's not likely -- i mean, obviously, they need to get that skill, that $49 million to keep growing. the bigger implication on costco and bj's. probably -- this is a $383 billion market cap company. last year, $170 billion in sales, only 7.5 came from aws. >> what's their -- tam -- >> total address market. >> total addressable market in the u.s. alone, 60 million

users. that's a massive market. think about it. we're estimating 49 million current users. their total addressable market in u.s. alone, 60 million. it's a massive market they're going after. the growth there is incredible. >> so what's the right valuation to put it -- >> i don't think twitter -- i'm sorry. i don't think amazon is a crazy valuation. look, what's the right valuation for growth? i'll leave that up to it a portfolio manager. it's not expensive here, in my opinion. if there is that kind of market you can go after. >> a live look at -- presidential candidate, donald trump, arriving at hofstra in hempstead, new york, for tonight's presidential debate. so he's on the premises right now. we're just about a few hours away from the debates. of course, full coverage on cnbc. that starts at 9:00 p.m. tonight. it should be a debate that will go down in history. i mean, 100 million are expected to watch. that's super bowl-like numbers here in terms of audience. and this will, of course, have implications on the markets. >> i bet the media companies

benefit. >> twitter should theoretically benefit from this. speaking of twitter, it was at one time, whenever there was something happening, world cup, whatever, twitter is going to benefit. has anybody mentioned twitter benefitting from this? >> i saw a tweet, and i can't remember if you're listening out there today, someone said you watch this debate tonight if you want to agree with the people on facebook, okay. all your friends. and you watch it on twitter if you want to argue with people. and i think that arguing aspect -- >> you'll obviously be on twitter. >> of course. i think that's an interesting way. if you want to hear like-minded stuff, you watch it on facebook. and twitter, it's only going to get better on the app. >> is that going to pay off for twitter? >> ultimately for the right buyer, it will. that's why would you want to pigeonhole it into one vertical. why not be agnostic to the different platforms that would want to, you know -- >> that's their business model. exactly what it was built on. ago not particular. let's talk about facebook, starting off in negative territory after the ad

controversy sent shares tanking. julia boorstin spoke with facebook's marketing manager. about the reaction of advertisers in the wake of this news. julia, what did they say? >> well, melissa, facebook admitted it overstated how much time an obviously user spent watching video by excluding videos watched for fewer than three seconds over the past two years. this didn't boost facebook's revenues, because advertisers pay based on the total number of video views, not the duration. but facebook apologized, saying, quote, we take any mistake seriously, and facebook's vp of global marketing solution tells us, though, this won't impact their relationships or their ad dollars. >> the marketers that i have personally spoken to, even since friday, have said that this was not a measure that they look at at all. they care deeply about their roi, they care deeply about sales. they care about brand metrics. and they wouldn't be investing

with us unless we were actually driving business outcomes. >> advertisers that all the other metrics are accurate. carolyn everson tells us that facebook has done a full audit and has partnered with a range of third-party companies, including a number of new ones, includingnal includingnallyson and cloud announced just last week. >> what it's going to look like, where we are today. multiple partners with us. everything from media measurement partners to media mixed modeling, multitouch attribution, mobile measurement partners, so trying to work with a number of different providers. over time, i think we're going to align more on a standard across the industry. >> as for wall street's reaction, analysts issued notes saying they're not concerned about the implications, because ad agencies focus on the cost purview rather than viewing time. melissa? >> julia, thank you. still the stock has been under

pressure. karen, you're a shareholder. >> i am a shareholder. never like to see anything -- advertising -- your business. you never like to see anything like that. i do think it's going to be a blip. today was down less than the market. it was friday that i think was the hit. i think this will be a blip. i think we will continue to see great growth there. >> it is a blip. but here's the -- there's a really important issue here. how long did they know this? and also they have a monopoly. they had 1.7 billion users. they are the product, okay? so those advertisers need it. so at some point, it's going to come home. next, "final trade." stay tuned.

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final trade time. tim. >> a big trump win in the debate, the mexican pesos will weaken. >> david. >> ets up 4.5% in five days. sold. >> chairwoman. >> i think we start to see any more pull back on facebook because of this, i think it's a buy. >> dan. >> yes. reports tomorrow after the close. i would be looking for an entry closer to 50, not here. >> i'm melissa lee, thanks so much for watching. see you back here tomorrow at 5:00 for more "fast money." "mad money" with jim cramer

starts right now. tune in tonight for special coverage of the presidential debate, 9:00 p.m. eastern time here on cnbc. have a great night. 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 some money. my job is not just to entertain but to educate and teach you. so call me at 1-800-743-cnbc or tweet me @jimcramer. today we witnessed the selling that always comes with uncertainty. in this case the uncertainty of who's going to triumph in tonight's presidential debate. that's the reason why we dent