try iing things like this it's kind of a leading edge. at some point, somebody had to invent the sitcom. wupt u just movies and plays i think there's going to be a market maybe for the big tech company, it makes sense g >> got to get people going michael, thank you very much feel better. that does it for close"closing . "fast money" begins next >> "fast money" starts right now. overlooking times square, i'm melissa lee. your traders on the desk are -- tonight on fast, nasdaq on a nine-day wibing streak at record highs. and the man who called last month's pullback in the sector is back with a bold, new call. plus, hedge fund managers are having a dpogood year. we'll tell you how he's putting his money where his mouth is and later, a number of big names

reporting afterhours all on the move as those conference calls are underway. we'll bring you the latest details throughout the hour, but first, we start off with the markets, a record for everything the dow, s&p, russell 2000, closing at all time highs. the dow posting at 26 record closing of the year. check out the names. not just the fang stocks price line, boeing, honey well, dupont, all hitting record highs, so do stocks keep grinding higher and where do you go from here to record highs >> you stay with name, five names, those are four, five names for quite some time. steve isn't here he's been on this do you want story, but boeing for example, now, the analyst community is getting ready. jpmorgan upgraded it to neutral from underperforming then today, bank of america, merrill lynch upgraded to neutral.

where have theybeen for the last year? boeing reports next week my sense is that the numbers will be great. valuations are neutral honey well, for the last five year, we want to own honeywell and not general electric, that plays out as well. >> you buy here at record highs or wait for the earpings release? >> if you haven't bought anything, i think we have places to go. i'm not who's going to buy somebody b with fresh money at a high for me, i'd like for things that are going to break out the fwi's point about the names we've put out there, they're all multinationals we have a weak dollar, lower interest rates than a week ago, so those are all positive for the stock market so if you're concerned about your portfolio look for a reversal in those it's not

>> i think it's difficult just to run out and buy and index and say i want to expose it to an index. you have to go stock by stock. it's really understanding the story and the set up on the street so i say we knew netflix was going to report accident numbers. they did i look at amazon i say amazon is the next one lined up two blowout numbers. the street expectations for operating are way too low. there's a story you can look at and buy and make money next week, i think it could blow out. >> i disagree with the whole notion especially where we are we look back over the last few summer, we have solvillety a vix that was sub ten sentiment that's overly positive a lot of stuff brewing in the background that could be that kind of curveball we get one way or another so i agree on the breakout of

the russell the 2-000. from the technical standpoint, it looked good it's got good support then the other thing, the idea of looking at netflix early in the week up 11% chasing to new highs, bringing the other ones up. i'm with bk. >> it's not chasing it it's selectively going after absolutely not usu usually, it's up and down 1% so they managed it well. street expectations are dictated well the second half was strong so i think guidance has been strong i look at that story and say that could be 1100 plus after they report easily >> the stocks at the top of the move, much greater amount to the

upside or the downside on earnings >> right i say the set up for me, everything at all time highs, at all. commodities going lower. >> not factoring in of course. imports are going to go in when that happens, you're going to see a shift keep on lining it up saying it's a buy and buying the equity. absolutely not stay away from that. stay away from energy. >> i'm shocked because everything they've said about energy has been true for a while now. you have this sentiment that energy is going to zero. you could have said that and now, here we are bouncing back saw numbers down today that's only going to go back on short if demands

that is zero impact on the market today you look at things, i don't want to buy something that's an all time high that everybody knows about. i want to buy something that's got a surprise in it and to me, the energy sector is the place that could surprise to the upside >> the contrarian place! mr. vegas over here. >> i don't know what happened to him over the last couple of weeks. that netflix thing has him all jazzed up. >> i'm on the bk front the dan corrected me today when was -- am rat long time. when they blew up, that was the low of natural fwas. didn't we see that blow up in the energy sector? isn't there a chance that that potentially labels the bottom at least for the short-term in energy i'm in the bk camp on energy

over the last couple of week, we've had no shortage of technicians come on, that is their contrarian play. the down shift has been so obvious that it seems like sooner or later, it's the dollar weakness when you think back, back in '04, 2014, 2015, the dollar started rallying that was a contrarian trade for this year. it's down what, 8% from its highs, but also, i think it's important to go back to this thinking about guidance. that's going to take the market higher here. bk just said it. we have a weak dollar, low rates and low commodity prices for investors trying to catch back up, the idea of bentering into a stock that's up on the year at all time highs in front f a number, this stock on average over the last ten years is 9%. >> for you, the s&p 500 is

interesting. in play iing for a breakout, to me, i'd rather do that than buy one of these stocks. >> i think it's an important thing. if i'm buying energy that's not as volatile, i'm probably going to buy two or three times the size in energy to get the same bang for my buck yes, they're volatile and yes, you can make or lose you have to position sides right. if he's positioning the size right, maybe that's the best play what i see in the set ups, i understood the netflix story really well. >> you know what he dropped on you? we used to have this graphic

trade school >> the stocks at record high, s&p hasn't had a high pullback in more than a year. so which parts are the most vulnerable let's go off the charge. >> we brought along a long-term after the last 70 years. 266 days since the last meaningful drawdown, but when we look at the long-term chart, we see that in two other instances, low 90s and a period without that and also the mid-50s and the mid-60s. what do those two periods have in time? they were part of a structural bull market. you only see this type of price action in exceptional trends and that remains in the broader market this is the 8 month chart. it's still very much in tact we have good support near 50, call it 24, 25, just underneath. i think you use any weakness for

the index to be a buyer. i think in markets like this though, it's vornt important to focus on what leadership and what isn't we don't want to have to chase things that aren't working on a relative basis, even -- continues to outperform the s&p. i'll give you an example of a name this is tjx over the last five years. any move does not sell the stock. we think it's broken the yields, shouldn't staples be acting better? can't make a new high making new lows ipg one name in particular we have to be careful with is

hormel topping out here again below the 200 day moving average focus on leadership. relative to the index is breaki breaking out good support near 50, 52 our target here is 60, 62. good looking picture and group stick with leadership in this market that's what you have to own. >> we invite chris over? >> it was all about you oscar night. >> i have a question for chris i apologize. in terms of consumer discretionary, if you take a look at discretionary, the pes

for instance, everything involved is at a 13-year high. >> that's why we have to look at these sectors. see it like industrials, too, we have to account for ge for amazon when you look at a sector of like discretionary equally weighted, you realize the influence amazon and netflix have had on overall -- it's not as good under the surface. tjx rolling over certainly, the auto names, o'reilly auto owned, so we need to focus on what's working, what's not and there's a couple of missing piece es with the sector >> chris, so, you have that s&p chart. obviously, we look at a one-year basis, looks like it just broke out. look at like that trend line is getting pretty steep and like you said, you haven't had more than a three and a half percent pullback all year. does it make you nervous that when it does break the tend line, you may get something

unexpected >> here's why i'm reluctant. yesterday and today, we had new highs from russell 200 that is not the environment for bear markets i can't rule out summer weakness, but i think we have to do it opportunistically in the context of what is a good trend. >> you have this argument on the desk do buy the leaders wha the better plain on a market like this i think it's to try and pick energy

>> is there a contrarian -- >> it's way too early. >> last year, those were the trends that had corrected. rather look there. >> chris, thanks what did you do today? >> boy, i like chris >> it's high er, no doubt about it you feel anytime the investors, this sort of enter sentiment. why down 20 handle, if it were, people wouldn't be fearful they would be pretty excited given the fact it could create buying opportunities

it's a lot of guys underweight >> coming up u, qualcomm sinking, that conference call underway they could be setting up to become the perfect target. the s&p tech sector hit iting a high today, breaking its 17-year-old record and one manager says it's up rngs up and away he'll be here to explain why plus, dan nathan getting ready for his first fast pitch he says one mes e st cketthbe more fast still ahead. (baby crying)

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(bell ring) yeah, and i can watch thee bgame with directv now.? oh, sorry, most broadcast and sports channels aren't included.

and you can only stream on two devices at once. this is fun, we're having fun. yeah, we are. no, you're not jimmy. don't let directv now limit your entertainment. xfinity gives you more to stream to more screens. american express lower that call is underway right now. we have the latest >> hey, melissa. that's right on that call, the execs were just saying they're seeing progress and indeed, the results beat the street's expectation, but shares are lower probably because the backdrop remains the same that is challenging for amex it's facing cut throat competition as credit card issuers offer ever richer rewards. they have created the market for high-end credit card, but it has

had to contend with a changing labd scape where experiences are sometimes valued over high-end services. now, they have had to keep up with new karadzics on the market, but it has also promised to cut costs guys, if the latest results tell us they still have some ways to go profit fell up, expenses rose. over the past quarter, amex notched a partnership win. it won the rights to become the exclusive issuer of hilton credit cards because it has lost high profile partnerships. some say that hilton is more of a symbolic win than a financial one. credit suisse believes it won because of future negotiations >> thank you very much shares of visa, 26%. mastercard up 24%. both those names trading at all time highs american express seeing big gains.

up 15% there are some laggards in the group. capital one down 7%. discover, 15%. so, we should also throw in ppa pay pal. that stock is trading off a 52-week high >> it's one i think dan has been on all over. i like paypal in terms of story. tremendous amount of growth. the thing we know, payments are changing you want to be in the places that are having that growth. paypal is one of them. trading wise, i'd probably be taking a little off there. if i want real growth, where i'm going to go is pinpoint. >> amazing how -- it goes back >> everything gets the bit coin. >> american express. >> after the costco thing, a lot of people, rightly so, by the way. this was a $54 stock the end of last year, this was a good quarter didn't raise guidance, but i think you can buy the weakness >> we have breaking news from the cbo. on the plan the to repeal

obamacare. let's go to kayla. >> michelle, melissa, we have a cbo score for the stand alone repeal of the affordable care act. just put out and i want to give you some of the headline numbers they say that the stand alone repeal would reduce the deficit by $473 billion over the next ten year, during which time, a number of insured people in the country will fall by 32 million people in terms of what would happen to the -- those insured, it would rise about 25% relative to current projections in 2018, but then over the course of ten years, those premiums will double in terms of that big deficit impact that i just mentioned, here's where that would come from the bulk would come from repealing the option alex pangs of medicaid, the government would see a windfall of about 842 billion from that and 454

billion for subsidies paid in insurance. they would be forfeiting revenue. it would cost the government about 6$613 million, billion in revenue, so certainly, these are numbers that the lawmakers are going to have to chew there as they're considering their vote those are roughly the same as the numbers the cbo put out in january when it was asked to score the repeal at the question of democratic leadership, so this is day that that's going b to be talked about as they figure out how to vote which mitch mcconnell said would happen next week >> individual line items are interesting in terms of being ammunition the taxes for instance, but in terms of just repeals on its own, the president didn't make it sound today as if repeal on its own was really not the first priority here that he wanted to see. it seemed like he wanted the repeal and replace and he wanted people to lock themselves up in

a room and figure that out >> in a perfect world, yes, melissa. that's what he and others on the republican side campaigned on on the trail. he said when we repeal the affordable care act, we could replace it within with the stam day or perhaps the same hour, so clearly, that's something he and many republicans on the fence want, but at this point, it appears out of reach that's why they're talking about an alternative >> thank you >> listen. this is not happening. it's not happening anytime soon. not happening before the recess in august that was extended here and the problem with them dragging this out is that they look fairly inept. di creases their chances of getting something comprehensive done in to 20 17 and that would be the only thing i'd say bringing it bag to the markets i think both party es could get around they're not going to make it bipartisan and they need

something on the infrastructure side that's why they needed to health care because they needed to actually, basically, take out a lot of the cost associated with it, so to me, just saying this, if you were buying this market, if you are optimistic about the economy based on that progrowth agenda that was laid out earlier in the year, it's not happening. this year. so that should be kind of come out of here. >> don't you think that's out of the market there's not going to be any agenda there is no agenda they can't get anything cone so to me, it seems like the market is trading on just not going to get worse. >> that might be a better situation. >> they are. >> it's a curveball. here's a curveball okay one curb i said it last night on the air. this president is going to fire that special prosecutor this year if he can cannot get the single win he said said it again and again. they need to keep -- >> president bannon. >> they need to speak it to their face >> that's really -- speculation. >> i'm telling you, the market --

>> wait. what do you do every night the stocks going up, down. speculation. >> you have a good point points on the board. he should have led this with not a health care infrastructure, he should have led this with repatriation that would have probably gotten through because there could have been more credibility from that perspective, so points on the board are really important here. we talk about it all the time. he's lost credibility. however, the market is not expecting anything >> your policy analyst, right? tax reform 2018 >> tax not reform took tax out for '18. correct. >> provide you with a trade if i may. >> please do >> isn't that a good thing this is going to slog along. ten nat health care. big shortage in august the hospitals have done well >> ahead, facebook's at all time highs and trader thinks it could jump 20% from here we'll tell you about it.

you're watching "fast money," here's what else is coming up on fast >> but i think you want to sell that >> sell it here. >> i would say it's a sell right here >> we know dan nathan is a hard man to quoiconvince but the tables are about to turn when he steps up to the plate for his very first fast pitch. can he get the rest of the traders on his team? we'll find out plus -- hedge fund managers are making a kmback this year. well, except for one man bill ackman and things could get worse.

qualcomm surging, we'll bring you the headlines, plus, bill ackman putting his money where his mouth is literally. putting this picture of himself earlier today. will the billionaire's blessing lure investors back to the stock? we'll have a special report and later, dan nathan making his fast pitch debut we'll see if he can convince them and you at home to buy his stock pick, so we start off here with earnings. qualcomm as you mentioned, sinking after hours. jon fort monitoring the call at headquarters >> off the lows, but still looks rough and on the call, these licensing and legal issues of qualcomm's have been dominate

ing the questions and the impact on analysts mod else how to figure out what to expect going to happen in the current quarter. trying to provide a little extra information on that, but analysts still have questions, not just about this dispute, but the dispute with another qualcomm trying to say hey, this is nothing new for us. by the way, we'll continue to be on pretty good terms with apple through this take a listen. >> we have a strong relationship with apple for many years and they have been a long standing and valued customer. we intend to continue to provide them with our industry leading products and technology as we always have and do our best to remain a good supplier to apple. even while this dispute continues. >> meanwhile, the company says the mxp acquisition remaps on track with four approvals achieved, also, some of the server chips they're plan to ship, the 86 market also beginning to make a small

impact they've shipped out about 11,000 units for testing and they expect in the next several month ifs for that to begin. >> thank you very much, jon fort guy. >> this is why the stock is lower. the fourth quarter science was miserable in a word. now, are they sandbagging on the back i think that's the case. held a couple of times this year i don't think it gets back there. it's not that expensive. they have a great balance sheet as we all talk b about i think you buy it on the veet >> here's the thing. we know what -- i know a lot of investors want to see progress i think as far as the patent, this is one of the biggest customers. they just had some apple's contract manufacturer jump on. i agree with guy that balance sheet, if they don't get the nxpi deal dope, it's cheap enough where this stock could get bought this company could get bought. it's an $82 million market cap >> involved in so many

>> once they wrap them up, a lot of these companies, qualcomm has been in massive litigation for 0 years. so at the end of the day, if they're not the acquirerer, they could be acquired. >> over the last month, 54.5 has been tremendous support. all these things are probably likely hitting the stock we've bounced off today, 54.60234 the after hours not a bad place. it's great reward. >> i think the stock is fine the only question, when does the rest bring their numbers down. >> all right, broad er tech now. nasdaq trading at a record high up for nine straight sessions. time to o get in on this tech rally. paul meeks is the chief investment officer

thank you for being with us. some folks may not have followed financial news for very long you ran the longest internet tech fund in the days of the bubble so at this point with the rally we're seeing in technology, what would make you pause about whether or not these gains, i understand you're bullish. would it be tra jektry of the stock prices >> i don't know, i think that the fundamentals are a are superior i am cautious in some of the fangs and the other marquis blue chip names because of these s o extraordinarily well in 2017 to date i think what happens when some of these names report earnings in the next couple of days, ipg the numbers will be solid.

people will feel relieved, however, the stocks might correct a bit. >> tech covers a wide range of stocks and frankly, a wide range of sectors, can you sort of drill down on things sectors that look interesting to you here >> i continue to be about the cloud. the problem with the cloud names is everybody knows those are great stocks you look at microsoft services and azure. there are some opportunities, i see some opportunities and semiconductors i've been looking at abi, analog devices. recently and telecom, just a couple of minutes ago. t mobile reported. two great quarters in a row and i think t mobile will go from being considered a scrappy upstart and when they get strong

two to three years from now in 5 5g, they're going to be the king pen. not verizon or at&t in the space. then i like another telecom name, a crappy company, but i think it's too cheap century link it's merging with level three. they have awful management i'm hoping when the deal gets done, it's management fires themselves and the stock should do extraordinarily well. >> do you think the iphone 8 story is fully factored in or investors are missing something in the story >> i think over time, this next launch, which i'm thinking between now and a year from now there's still upside in the stock. i do worry about this quarter given the fact, what's next.

an enormous portion of -- we know china has been weak for them they need to rebound there because that's most important job in the world >> you raised some red flags about the high flying fang stocks are you short any of them? would you? >> no, my obvious shorts are two dangerous. the right here it's not any of the fangs. occasionally, i have combined agree valuation with a negative catalyst quite often it's accounting fraud and i don't see too many opportunities there. >> paul, thanks for your time. good to see you. paul meeks so, what do you think? >> i disagree about trading certain names.

it's going to be fine. i do agree with facebook after they report, you could take chips off the table i think apple, the runway is clear. i believe the street is factoring in the phone >> i think dan's been on the back of this for a a while and workday has been a monster i think it's wtay. just on valuation, but sales force to me is still the best in show so i think you want to buy crm into earnings. >> i think apple is really interesting. we spend less time talking about it, but when you have an investor like paul talk about their next trip, you see some of these really innovative companies, amazon and facebook laying out their long-term vision and investors are giving them lee way here. i think apple, we've talked about this would go a long way with investors if they opened the kimono now just to kind of get a sense. we keep seeing these, oh, they're going to be a power house in ai, or wearable

but we don't see it yet. don't really taub about services, which i don't think they're impressive in. so i see it as a lot of head wind >> could you get to 175. >> i think that's the play in happen l >> it's not like i'm going to stop not buying it until that happens, you buy apple. >> what was that kimono crap that's five below. >> in light of big tech earnings, options trader rs bullish on one of the that i means reporting next week. mike joins us to break town the action >> we've seen a lot of call activegoing on in facebook yesterday. it was the most active single

stock option it's about 4.5%. that's less than the long-term yesterday, fires up the september calls, so they're setting up pretty strong upper move 15 to 20% and today, the august calls, these are some longer term bullish bets. september 170 is about four bucks, so if you're inclined to make a bet >> you're look at that yesterday. >> mike just details this trade. >> buying the 175 and 180 calls. they would be up about 123, 13%. so me, this is another story i can't foresee what it's going

to be. they're getting saturateded. doing a good job of guiding you to the potential potholes. investors don't care >> thanks for that, mike more options options action. still ahead, t mobile surging 3% in the afterhour, follow iing a beat we'll hear from the color unfortunately ceo on what drove the quarter, plus dan nathan is stepping on to the field for the first time ever. warming up to the pitch. he'll pitch one stock he's calling the more for investors know, but can he convince the other traders? he'll deliver his very first fast pitch when "fast money" returns. hey gary, what'd you got here? this bad boy is a mobile trading desk so that i can take my trading platform wherever i go. you know that thinkorswim seamlessly syncs across all your devices, right? oh, so my custom studies will go with me? anywhere you want to go!

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811 is available to any business our or homeownerfe. to make sure that you identify where your utilities are if you are gonna do any kind of excavation no matter how small or large before you dig, call 811. keep yourself safe. earning earnings alert on t. >> it was a strong quarter for t mobile promotional offers helped accelerate demand. the u.s. carrier's seen addition, much higher than what wall street was expecting, this as the third largest carrier continues to expand and stores 3,000 total new stores planned for 2017

used words like fantastic and strong to describe second quarter performance, predicting they'll be the only provider to grow total wireless revenues he also threw shade on o t mobile's competitors >> it seems like at&t is focused on big time m&a and fine with losing a couple thousand paid customers this quarter and frankly, every quarter verizon's massive markets blitz on its unlimited plan looks like it might dispoint. i bet it also cost them a pret penny. sprint has been give iing away service for free like literally, giving it away >> all right, the competitive talk continued saying both verizon and at&t are completely choke ng the wake of their unlimited launches and have seen significant network slowdowns. the net works can't take it. t mobiles has become faster in

download speed all right, the stock is up about 3% but in terms of one-year performance, sprint is leading the pack up 86% over the past 12 months t mobile, up 40% melissa. >> thanks so much. obviously, sprint was w a lot of merger speculation embedded in that stock, which is why it's up so much, but this is almost a race to the bottom when it comes to pricing that john ledger is spearheading this was a deflationa rrry pressure >> t mobile is an expensive stock, but net ads. they're doing something right. the stock can go higher from here >> it's a game for them. all the spectrum they bought it allows them to play the game

for probably another five years unless there's m&a involved and it's a stock you can own >> it's john ledger. he's winning the race. if you're going to play this sector and you're looking for surprises. >> now, it's time for the fast pitch. when one of our traders pick a stock they think is worth a buy. when they're done, the traders will vote on whether they'll buy. dan nathan is a rookie and he's ready to step up to the plate. what is your pitch >> at&t. here's the thing, this is a good segway as you like to say in the business, guy. from that t mobile conversation. when talk iing about a race tol bottom in wireless pricing, it doesn't really speak to the idea of being a lone player like t mobile is with only one service to offer, which is wireless. we know sprising is going to zero he just said about their m&a strategy, for $85 billion. a few months ago they spent $1.6 billion to buy

5g spectrum. this company xaeb is is thinking about the next 20 years while i think t mobile is thinking about the next few quarters here so to me,en i don't like, i don't like t mobile. it's down 15% of the year. the street hates it. eight buys, 25 holds and a bunch of sells on the thing here remember, this is a stock that has a yield, almost 5.5% when i think about that, versus where bond yields are, that's attractive i want to show you this chart here it looks like it made a new 52-week low today. it's got support, down about 15%. to my eye, if we can get this deal done in the next few months or some clarity on it. you're going to want to own this i see about 10%, that yield is a nice cushion, so here, at 36 buck, you'll buy at&t. >> may i ask dan a question?

>> hi, dan >> i love your stuff, by the way. on fridays, wu but when does that yield which has been going up for the wrong reason, because the stock has been going lower, when does it scare you zbh it never does. here's the thing, guy. it's had some massive, massive moves over the last year i think it's hitting a a sentiment level. a valuation level and i think the dif sepulveda is really attractive here with a bunch of catalysts here, so when you see t mobile ticking up in one part of their business, here's a company that's dpoipg to be selling cable, wireless, content over the top you name it. they're going to be a hub. this is a media company when they get time warner for the next 20 years. >> let's vote. bk >> you know what, for me, it's actually a buy i was going to go with a sale, but dan convinced me

the reason why is for that dividend over the long run pretty good. >> steve >> i go with it as well. a buy. i think he's spot on youlook at the, thgs a provird they're going to hit the solution on video digital. buy here no question. >> they have a relationship with amazon, with ford. what i write there >> first time out. but the pitch makes you want to buy at&t you can vote in our twitter poll since it's dan's first pitch, i will vote as well. i will not tell you how i'm voting we'll reveal the results after the later in the show.

plus, bill ackman posted this video of himself at chipotle as the company faces yet another health scare we'll explain when "fast money" returns. last year, he said he was going to dig a hole to china. at&t is working with farmers to improve irrigation techniques. remote moisture sensors use a reliable network to tell them when and where to water. so that farmers like ray can compete in big ways. china. oh ... he got there. that's the power of and. and the wolf huffed like you do sometimes, grandpa? well, when you have copd, it can be hard to breathe. it can be hard to get air out, which can make it hard to get air in. so i talked to my doctor. she said... symbicort could help you breathe better, starting within 5 minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms.

symbicort helps provide significant improvement of your lung function. symbicort is for copd, including chronic bronchitis and emphysema. it should not be taken more than twice a day. symbicort contains formoterol. medicines like formoterol increase the risk of death from asthma problems. symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. you should tell your doctor if you have a heart condition or high blood pressure before taking it. symbicort could mean a day with better breathing. watch out, piggies! (child giggles) symbicort. breathe better starting within 5 minutes. get symbicort free for up to one year. visit saveonsymbicort.com today to learn more. hey. hi. hi. you guys going to the company picnic this weekend? picnics are delightful. oh, wish we could. but we're stuck here catching up on claims. but we just compared historical claims to coverages. but we have those new audits. my natural language api can help us score those by noon. great. see you guys there.

we would not miss it. watson, you gotta learn how to take a hint. i love to learn. welcome back

smart money has reason to smile this year as hedge fund posted their best first half since the financial crisis leslie has the details two markets that really couldn't be anymore different of course as you know, 2009, it was low and yet, they managed to have that since then. however, it's important this distinguish that the performance was much, much sloer than it was in the first half of 2009. up 5% the first half of the year compared with 17% in 2009. the first half of 2009 the s&p 500 however was up 8% in the first half of the year, so even though those hedge funds manage d to outperform the previous eight years or so, they really weren't able to outperform the s&p 500 that said because of the rise in equities, equity and activist

strategies were the ones that did the best the first half of the year up 6.4%. activists up 6.2%. and speaking of activists, i want to turn your attention to bill ackman, his returns so far year to date as of ewan 30rd 2.3% and one of his stocks has been in the news chipoltle. about negative 7.1%. that's since september 2016. getting into the stock he tweeted today in response to what appears to be some news yesterday that sent the stock plumeting. he tweeted that he was chasing his own cooking and making my own mix at saber wave.com. >> i have a question >> sure. what do you order? >> i actually do this is a big scoop and not just

a scoop of gawk mole he got a bowl of lettuce, double chicken, vegetables and actually, guy, we brought some for you. >> get out look at that >> that's amazing. >> what are we talking about neurovir neurovirus noro virus >> i ain't scared edscared. this is live tv. >> that's the one i would want to go to >> it's 56th street. wep the exact one he went to we were not there. we found out >> what does that cost >> that's a good question. >> like 9 bucks. >> more than that. >> how many calories how does it taste? i think the real tell rb b in about five hours >> i have a strong institution you make fun of my afflictions all the time you know the best part about this, you know, what is it

>> double chicken. >> no beans. >> and it hases. >> by the way, downgraded today. tells the advisory upgraded still trading ebitda on o multiple, about two turns ahead of casual as a whole it's exspen sieve still. >> long drive back to new jersey just want to say that. >> thank you >> thank you >> still ahead, did you like dan's pitch? he's winning so far. winning. there's still time for you to vote we'll reveal t rheesults right after the break. (baby crying)

(slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring)

by the way, that bowl was $18. all right. time to reveal the results of twitter poll did you at home like dan's first pitch for at&t it's a close one, but 30, looks like dan hit a home run on this one. wow. look at that 59% said yes 44% were with me no a lot of winning time for the final trade dan. >> i think at&t hit it right here winner you >> bk. >> i think if you're looking for higher rates, you buy some tbt here interesting bounce >> amazon for the long side. i think this would be great. >> guy >> just having a field day with

this chipoltle thing >> delicious >> i ain't scared. enough earnings. >> tip. >> whit: his wheelchair over >> thanks for watching see you back here tomorrow at 5:00. 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 call me or tweet me @jim cramer what happens if people actually start ge