don't think you'll see a down round in that -- i think the scarcity value is too much nobody has ever lost money doing this. >> i don't think they've won a super bowl. >> they've been in one, haven't they anyway, i think the league approval is the variable here. >>. that to see it for "closing bell" today. "fast money" begins right now. >> "fast money" starts right now. live from the nasdaq marketsite overlooki . >> check out shares of this brand-new ipo, it longfin. the symptom is going oar we'll at the time you about the he and he said yesterday, the ceo of longfin will join us for an exclusive interview, no holds barred you will not want to miss it brian kelly just bought a new

cryptocurrency coin. first we start off with what could be the best christmas ever all three major indices hitting a record high. closing at a record for the 70th time this year the most ever in a single calendar since 1995. the nasdaq joining the party crossing that key 7,000 level for the first time ever. all this stemming from tax cut euphoria, which if you look at the moves clearly wasn't priced into the market. with tax cuts ahead, are stocks still cheep, just how high can a market go? >> cheap is a tough term in this low interesting rates they're probably on the margins cheep. you have seasonality working for the market december is typically a month where things just ratchet higher we've said for quite some time that something is going to happen before christmas. the president has said he wants to give the american citizens a big fat christmas present in the

form of tax cuts, you're going to get it. what can you still buy b.k. talk about goldman sachs breaking bottom that all-time high if you just talk about price to book, which i think is a correct metric for banks 1.8 is legit in this environment goldman just told you on october 17th, 190 is their boog value, 1.8 gets you to 340 stock. not suggesting it happens tomorrow, but i think that's where names like henning, and i still think a lot of the retails names we have talked about still work as well >> you have liked the banks for a long time. they're operating in a better environment overall on later regulatory cuts. we knew they were coming down the pipe, were they not priced in at all? >> i would ano, because i think everybody was played on the fundamentals, but the tax cuts, i think other than guy, very few people thought it would happen

this year. if they thought it was going to happen, maybe in 2018. it sure looks like, to your point, guy, the christmas present may come early, but i think they are steadily starting to build in, mel, there are places you can still buy, places that i think are absolutely in the street osphere, but i think you look at financials, you look at technology, what was leading today? financials and technologies. when you look at growth, they have both. and you look at the fundamental stories of both, you still look at stocks that actually are reasonably cheap for the most part look at intel into, the covening run, they give a great different, they do all things you would like to see and a growth segment as well. >> with the s&p 500 at record highs, dow at record highs, the russell is still about nine months off of its high theoretically that could be the

place up to be. >> so i would great with guy and pe pete, but i would look at what's next what are we auctioning boo in 2018 infrastructure you look at some of the material stocks, john deere or cat tractor. would live to drive those things, but other people use them for work, not just for fun like b.c i would look to those. that is what people already talking about. back to your russell 2000. we talked about this last week this eff was down in the year, and when tax reform started to get on the calendar for 2017, it took off it's really up 14% massively underperformed the nasdaqand - if you believe the tax cuts are going to go through this year. i would bet on the russell over the s&p and the nasdaq on a

relative basis in 2018 just because, a, they have underperformed, but b, we've known they hit them much quicker. >> i would agree -- you did see a big move in the russell into july into december i would say within 2 1/2, 3 weeks the thing was trading up to 150 maybe that was the russell pricing, but in terms of a catch-up trade, you could see that kudos to dan, but you liked intel months ago when people order their pete were talking about it >> thanks, guy >> well, it's true. does anybody like the retail trade here i think they did 24%, not even 21%.

that's $5 on the up side. >> i think it does help generally. some of it might be tax-related, but do they have great numbers do they give us the great numbers they want? no, but i like to somebody like a home depot. >> costco. >> which could also benefit. >> and that's a name that's gone from 165 to 185 in a very short period of time when you look at what they do. e-commerce, you look for growth. and when you look at the valuations, they feel stretched, but they're in the right spots. >> you have to look at where people are spending their money. macy's was down for a reason there's a structural change going on

you want to go to a proven winner like home depot. >> how about, does a lower tax rate give them an extra lifeline to survive >> here's the thing, though. rates will be going higher, we know that, in 2018 so these department stores have a lot of debt, so it's going to be more expensive to service the debt s we also know the tax raid is -- that's why callen was using a 124% number without going crazy. >> there's one industry group that's been on fire this year. next guest, carter worth, says it's time to take proved now, which groups, carter >> wherever there's -- like semis and fang come up, but home

builders are the best-performing subindustry this year, and i would want to harvest gains. what we know is there are 158 sub-industry groups in the s&p 500, and the number one performer is the not so much talked about home builders there will about 45. them we have a fairly -- if you have gains, you want to pull back these are the five largest names, names we know what's important is there's only two stocks over $10 billion. basically home builders are small area of the market this is hear has been bit up

aggressively, so here's a comparative chart, year to day the numbers speak for themselves one of 20% for the s.p.y. and 5% for home construction. let's put it back a little further. here's a four/five year chart. again, market you have a double, so the question is -- is this angle sustainable? i would say no moving on. here is the -- well, here's the itb. how would you draw the lines would say it was once upon a time a head-and-shoulders boum, and if so that was the breakout structure, yeah, exactly we broke out. is the risk out is we're so far above trend, if you use moving averages to measure trend. i'm betting up have a check back to that line

all right. now, still is it just show you house beaten up these are. and the itb, and look at the dates that theyally peaked if the housing re-peak, and then -- that's fine, but i bet you the way higher is going to pass through a lower price >> talk about throwing coal on christmas. ♪ you're a mean one mr. grinch >> that's not fair. >> it's kind of a grinch today, isn't it >> grinch music? >> you know, the home builders sentiment came out today, and so there's the current sales gouge, and that is -- not gouge -- gauge, it's at the 1999 high

typically sentiment gets ahead of itself, an angle like that, i think you trim >> technically why do the markets look weak? >> they don't look weak -- >> there's nothing -- nothing can ascent at this race without having any checkbacks, you can say it has, but it's not an annuity. the markets are acting as though there's no risk in equity. everyone who is listening knows there's a ton of risk. in fact that's why so many accounts close, that's why so many funds close it's a very different proposition, and the market is acting as though it's not. >> real quick, to that pint, cut about 3 1/2, 4 weeks ago

mortgage deduction was going to get cut. homebuilder maybe took six over off during the day and they were off to the races, does that suggest there's nothing that can derail >> that's just it. all the news that's coming out is not that good for housing and for the builders if i were to ask you this morning and you were to close your eyes, and say what was the number one performing area of the market, i wouldn't have hansed ohm builders, would you no way there it is. do you chase that for more >> i i would say no. >> pete likes home depot they're not building them. >> what did you do today, pete

>> today -- i talked about american eagle, and i felt a bit bad about having to sell some -- i think that space is going that much higher. the fact that copper has around three/above three for a while now, i think they're printing money. >> what about you, dan >> on friday's "options action" i detail the trade one of the interesting setups this time offine, maybe we'll have a pull democrat back in january as people take some tax loss sort of situation or take gains in the new years for my he sold short dated call in intel tell and longer-dated once that stock has moved quickly to that leave, but to me i think that sets up well as recent consolidationses. twitter surging more than 10% on another upgrade we will tell you why investors are suddenly flocking to the

stock. the cryptostock is going crazy. surging 300% today, up 1,000% since the ipo last week. what is the deal with this is it too gooding to true, one of the most controversy at. could this be your best class to have these high-flying names? we have the details, much re asmoy"s ilahead.

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. welcome back to "fast money. shares of twitter surging after an upgrade from jpmorgan and buy rating, wall street still catching up. the average analyst price start is just $19 even though it's trading around $25, and up more than 15% has twitter finally gotten its groove back? pete >> they found some fundamentals, for sure the daily active users, the global growth they are getting out of that. it's pretty impressive, quite frankly, you always wonder is this part of a short squeeze, part of any kind of a story when

we see it in the media space. at 25 gawks, you have a lot of resistance of the it's been a tremendous run i don't think you have to go out and buy it, but based purely on my weer feed the more you talk about cryptocurrency, the more maus go up on my twitter field. >> is it help -- >> it could be. >> jpmorgan didn't mention anything about that. >> >> but you know they wouldn't have said anything about that. >> well said. >> i mentioned this a couple times over snap was having a hard time, the valuation, the enterprise value of snap was far greater from twitter. twit are had already been through some of these growing

paints i this -- one of the reasons people are playing catch-up. >> pete was talking about a lot of calls. >> very, very active calls were more than six times r when the symptom was trading about -- a buyer of 260of the february 25 calls, paying 1.61 on february expiration up about 10%.here b.k. just mentioned where there might be resistance. the potential for it, and in my head, that company and that board could not sell that company for below $26. to me i think -- >> that's on the table >> i'm saying psychologically i don't think they could have brought a deal to their shareholders below that level.

as we get through it, you know, who knows? i don't know who needs what, but to me it seems like a very unique social problem. >> we've seen the fault line shift with all these deals, and we saw blankfine and jack dorsey picture posted shares have seen a bit of a pop. the stock just got obliterated, and we talked about the potential i. maybe the worst is over maybe they have in fact turned the corner, but i tutly think this stock will continue to break out to the -- but i do think at the 30 handle sometime by early next year

still ahead p. i bitcoin, and b.k. will tell you why he's so excited. you're watching "fast money. in the meantime, here is what else is coming back. >> announcer: a new concept in air transportation the tra vail has been taken out travel. >> the stocks are surging. there's one name the traders can't wait to get on board with. what happens when an obscure stock says it traffic in both crypto and a.i.? is surges 2,000% in two days is it a scam >> you think so? >> the ceo of longfin, did defes s ndhibusiness live on air, when "fast money" "fast money" returns well, it's earnings season once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all.

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welcome back to "fast money. if you thought the bitcoin boom was impressive, just you wait. a handful of stocks have been skyrocketing by taking advantage of the cryptocraze dom chu is breaking it down. >> don't believe the hype or believe the hype, those are the questions tied to the craze. some of these mo moves you downright crazy. one example is longfin it's a financial technology on fin-tech company that just went public last week, $5 a share it was worth an estimated $280 million. in comes news of an acquisition when it buys a microlender,

which says it's a blockchain company that traffics in cryptocurrencies, and very small company all of a sudden sourced, to a high of $142 plus today before coming well off the highs, high about crcw, which has been traded publicly as a mike roar-cap. it was $3 and change, then traded around a couple,000 shares or less a dan on december 11th it got as high as $642 on 5,600 shares of volume, downsh and then back over 500 today on very light volume and then there's another microcap company that's become a smallish name, riot, ticker rirot. it made a small investment in a cryptocurrency trading operation, and that helped rocket its shock tier, and now know as riot blockchain.

the volatility has bled into the stock markets, which is leading to some returns that defy conventional wisdom. it's fair to say that one knees to do a lot of research before actually trading them. buyer bebay. caveat emptor. >> i'm curious -- a nice public service. >> i try to do, and we did on riot blockchain. they paid $12 billion for roughly $3 to $4 million worth of mining equipment. stock went straight up just be careful with these in the '90s people would say i have a website and the stock would go up a lot. just be careful. we have seen this movie before

the ceo of longfin is sitting in the greenroom. there you see him. in the meantime, let's discuss longfin in particular. this is an interesting one it went public last week two days later it buys a blockchain -- which offers a blockchain solution. we'll see what it says about itself now it's trading here. >> so, listen, this is an interesting situation. i didn't see -- back-door ipo or something like that, listen, i don't exactly -- we've been read being it for the last couple hours about the disclosures. it does sound funny how you do the ipo and make the announcement once there's liquid to drive people into it. it seems fishy but listen, you know, in these situations, i know what b.k. was saying about riot. at the end of the day, investors hold some responsibility for this sort of thing

i think it driving in the wrong sort of investor when you see a stock moving around like this with no closures for all intends and purposes, then you're in the game, too. so you have people who might be kind of offering out a security, because they know it could be game i fit game-ifyed, this is something that -- i went through the '90s when everything was going up, and they didn't even have multiple also. a similar feeling to what we are seeing right now a lot of people didn't want to take the time or do the research they said just, looking we're going to buy these guys. that's so dangerous and scary. and when you hear people taking out loans on their houses to buy this, is scary none of us would condone it, but it's amazing how fast people

will jump on something >> let mess just -- it's crazy, frenzied speculation those aren't my words. those are the words of the ceo we'll have on in a few minutes if he didn't expect a move like that, haim not sure the folks at home should be playing for this to continue. as to pete's point, b.k. and -- can it continue to go higher this is deep end of the pool stuff. >> that will be implemented, but there are all these other companies that may be sort of riding this wave and investors have to be very, very careful. you have to say what did this company do before they started with what is their management experience in this particular area did they do a blank check type of company you have to do your research do not, do not until any

circumstances take out a mortgage to buy bitcoin or any of these other things. that's the dumbest thing in the whole world. clearly there are a lot of questions here don't go anywhere, the ceo of longfin is here, and he'll answer these questions and atncerns th's after a short break don't move

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welcome back to "fast money. you're heard just how suspect some of these names might be thursday, and sports a 6.5 billion market cap, this after the company said it was buying a blockchain website -- which the chairman already pretty much owns venkat meenavalli joins us now, and we do give you credit for coming on. >> good evening. thank you for the opportunity. >> as we have pointed our your company went public, two days later it bought zidu.com, which says it offers a blockchain solution were you simply taking advantage of the mania for blockchain? >> no, not at all.

you have to understand were the first company under the regulation of -- genuine ipo and on nasdaq on the bell floor ringing two days back. i did a closing bell on friday also the first on a ipo you have to understand what we do before talking about blockchain, it's called disintegration as a fin-tech company we are there, and in capital in india we are did the -- i'm a trader like that. i'm a technology guy, i bought -- for building the platforms, and -- you know, we started with with the theme -- we are a mark maker, we on the cme, cdcx, we are like mature -- of the world, and it's used, and you know, if you look at my report, with cfdc and these thing, we did 60 billion of

volume by using machines what is it there are two things here you have to understand a dodd will have frank rule and basic -- what we do affects for doing solutions, a lot of small importers/exporters used to come to us, and to buy the if you walk on to times square, you see australian dollar, 20% and the common man is losing because of the -- this is what you don't understand as a fin-tech company, we started financing the small smes that is our core business we have a profitable business. let me explain the blockchain. this company is owned by me, it's a relate of-party transaction disclosed with the ftc, and it is my company which we acquired. the block did not chain, what is the concept of this company is

any -- you know, i'm just -- one second, a -- bang $1.6 trillion is the shortest financing, the banks are not lending why? >> trying to eliminate the middle man, which is the beauty of blockchain. when you went public in your s-1. >> we had a -- >> in your filing to go public there's not a mention of being a blo blockchain company two days later you buy a blockchain company from basically yourself, meridien capital is 95% owned by you. you must have known this transaction was going to happen -- >> no, madam, let me tell you, this is uncertain, we closed the ipo and filed september 11th, and four days on -- we filed on september 11th, it was closed on the 15th we disclosed to the market we followed as a reg-a company and you don't understand -- on

the job -- i can talk about the company, i can talk about the future business. you have to at the time understand that reg-a in a different way that an s-item i did my job right, because my lawyers -- you know, we -- when i got confirmation from nasdaq saying we are approved, because the -- never expected -- if we're not going to make any money from that, nest year 5%, the blockchain is simple, the financing of the smes, in australia and in africa, the people are struggling to -- because i send dollars i cannot get back -- >> let me ask you about ziddu. can you tell me how much you -- how much transactions you're doing with ziddu >> right now we don't have revenue. next year $. >> so in december ziddu was a at the company you could buy content from games.

>> no, the last two years, if you look at it that's the company for the last ten years, my bitboyne valid there, and we have bitcoin transactions selling. >> how many transactions did you do with the ziddu cone. >> 140 me personally, with the ziddu coin. >> i'm a miner from a long time. >> you've done ziddu coin, you don't understand. >> i do understand. >> it's not a public coin. >> you're selling it on your website for 19 cents that seems public to me. >> no, no, we are not selling or anything -- >> but i can go on an unsecure website and buy it for 19 cents. >> the pricing is -- i am lending it, and i'm financing -- >> you're doing that right now. >> yes, we are starting that. >> with the ziddu coin. >> you're starting it. what exactly did you buy by buying ziddu. >> you don't understand.

you have to understand one thing form the bank are not lending. the fin-deck is basically loans. why are not banks lending? because that you have to have full results for every declare lending. you don't understand that, because i am yew ethereum, mi o microlending. >> using that notice. >> using this coin, that is what we told and what we disclose you downed understand that i am a profitable company, and -- >> you paid your company 2.5 million shares for ziddu and it's not going to make profit? >> not this year this year we are just integrating. >> how many transactions are you doing today? >> i just say, research and development company. i'm not saying it's a -- >> why would you pay for it why not just start it up >> i wanted to take it a separate, but i became a listed

company on nasdaq doing officially an ipo. what's wrong with bringing my company and creating value for the shareholders. >> i have a question, though, it maybe make how many money? 5% of what >> you don't understand. >> from ziddu.com, how many will you make next year >> $3 million. >> a total revenue base of what? >> this year we are going 200% growth rate. you ought to see my numbers. six months we did 20 million, for the year we may end up ought 65 tore 70 we have a profit at business company. you don't understand. >> i understand. >> going forward, god bless, we are confident. >> have beenkat, i have a very simple question. at 12.3 million shares, what was worth, what? and in the meantime -- hold on in the meantime -- in the meantime longsfin gained, what

$4 billion in market pap >> it's not justified, i didn't say it, because i'm not profitable good company, and there are people -- the market cap is not justified i am -- my -- put $5, but $3 million five times nigh revenue, does it not continue there is no float. we have a profit at company. somebody shoreded k4d nothing to do with this -- you know, what we wanted is -- you ought to look at my track record and look at the s.e.c., the top -- in 2015, the top five mart makers like you -- >> under stood, but basic eye you're saying this market cap -- >> it's not a reality -- >> let's get back to what you're doing right now. on the website ziddu counsel for

19 cents so there's stuff going on there. >> yes, 19 cents is what is happening if i lend -- you have a -- you know what is happening, $1,000 i want to lend, i will give you -- >> that's what's going on right now? >> no we're starting. >> why is it on the website. >> it's a prototype, you know, and we are testing it. we are testing the guy comes in, and use ethereum -- >> but you have on there you can buy the coin. >> it's not buying the coin. you can't use the coin i'm not listed anywhere. i'm not listing my coin anywhere. >> how do you get the price? the price is something you make up >> it's pegged to ethereum. >> how do you do that? >> it's a simple thing it's not pegged to -- it's just based on -- >> why can't -- my price i

cannot respect anything. pegging is something, because i wanted to tell my friends, because i'm lending you -- because i give you to do business with me, and use that microfinancing, plik roe lending is a -- you know shadow banking as some people believe is -- i'm a banking guy. this is a big industry, you don't understand cryptocurrency are going to play a bigger role in microlending. >> better believers in general about cryptocurrency -- >> but i'm telling you we this is not because -- >> if you control sell your own stock, would you sell it have you sold your own stock in any way? >> no, i own 55% of the company. and 92% is bosch we don't touch that stock. >> and you cannot sell >> no, i'm a profit at company i'm a profitable peeble, nasdaq,

all i need is $6 million to get into nasdaq. >> you're basically gives short seller the green light, because you're saying you basically don't deserve this mart cap? >> how can a company -- when i price my $350 million, why is -- 5 billion? one thing, were a growing company. my market is a shadow banking market, nobody on has covered shadow banking -- >> is there a time frame where you would be able to sell shares >> i'm not -- i am a billion in the company,i after profit at. >> venkat, we appreciate your time and honesty. >> thank you for gives me an opportunity. venkat meenavalli. >> as i said earlier before he got here, he said it's

unjustified and he's trying to explain himself. i can't speak intelligently about the shadow banking industry and whether or not longfin has a place in it, but i think it's safe so say the move we saw today was exaggerated, and we should sort of gravitate, if i may use, to levels that are more reasonable. >> here's what i say, yes, the valuation is unjustified ceo certainly said that the ziddu coin says on the website you can buy it for 20 cents. it has not traded anywhere there have been 30 transactions there, you can see it on the block does that chain. 90% are owned by one account if you log-on to the website it's not security, it doesn't have an ssl certificate, so if you put your password in, is it anybody can takes it those are red flags. so just be careful. still ahead, a pow are 235i8 at atlanta's airport leaving

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nbc's kerry sanders is >> i was listening to the last lively setment if the atlanta airport were a cryptocurrency, we had a power outage and the whole blockchina collapsed. it came to a grinding halt here. on top of to main lines, it burned straight through. questions now about whether there move a design flail, have

that as centered, but for passengers it's been a longs of passengers had to try to rebook. and one of your questions was whether this would imbalance delta as operation yesterday and today, they organized with the airport, for chick-fil-a to hand out sandwiches

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welcome back to "fast money", what is it, b.k. >> litecoin. a pretty popular point these

days three reasons i bought it -- first it has a technical lead. charlie lee, the creator of litecoin has been ahead of the curve on a lot of the decisions and upgrades to the network. litecoins has added stuff that bitcoin haus not yet you get fast confirmation times. people start to use it for a global -- you can move it around the world very quickly then number three, it's not accepted at steam. remember, as some of you know, that steam is one of these online gaming communities that used to be able to bitcoin at, but it was too slow. now you can september it at steam. let's go to the chart. how do you trade this? let's go to the other chart. what you'll see is here's litecoin it had this massive rip. you want to buy for the breakout here i think it goes to 500, that's the trade. >> wow

dan? >> beaks, we talk to you all the time, but for the benefit of the viewers, is it a trade or are you actually investing in the underlying technology, or is it a trade for our viewers? >> i think it can be both. in this particular case, if you're buying at 300 s. probably on the risk/reward, but the underlying techology, theblgd be one foundational cryptocurrency that will be afternoon five, ten years from now litecoin bug, by the way up next is the final trade wos. right now when you buy any of this season's hot new samsung galaxy phones, you get a second one free to gift. that's one samsung for you. one to give. t-mobile. holiday twogether. your new brother-in-law. you like him. he's one of those guys who always smells good. his 5 o'clock shadow is always at 5 o'clock. you like him. your mom says he's done really well for himself.

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time for the final trade longfin down by 25%. it would been down by as much as 36% or so. of course we talked to the ceo just moments ago he himself called the huge pop this blockchain technology company bought ziddu, skyrocketed. >> i think that's the point. you can form your own opinions about it, but even the ceo said this was kind of a crazy move. sometime for the final trade. pete >> letter x, u.s. steel going higher >> beaks >> if you have to neighbors the dabbling, but has aee, cme, that's the one i you buy. >> up 30% from the apple deal last week. >> big lots, traded up to 60, pulled back for 55, i think it's

cheap. one retailers i think will continue to go higher. see you back here at 5:00. don' 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." other people want to make friends. i'm just trying to make you money. my job not just to entertain you but to educate you and teach you. call me or tweet me @jimcramer. what do you do if you missed it or think it is too late to