its first day. it's been straight down. the business model had tremendous questions going in it's still burning cash, so i think there's a lot of doubt as to whether there's a lot of a future here. starting to sell in stores i don't if that's good or bad. >> thank you army corps of engineer san tolli, for joining us. that's does it for us. foist foi "fast money" starts right hue. traders on tim seymour i brooen kell you steve grasso and guy adami. fob foib under investigation, is the worst still to come for the social media giant plus bitcoin until pressure and twitter jumps on the bandwagon. but the big point bear market

isn't slowing down but first, we start off with the markets. stocks with a stunning comebabble up nearly 700 points, this on soothing words from the trump administration downplaying the possibility of a trade war erupting over the weekend. the market leaders coming back with a vengeance tech and financials both soaring. is the worst of the selling over can you trust the rally? guy. >> that might be one top five worse songs. >> survivor came back with another one. >> but the best movie -- >> back on point, please. >> steve grasso at 5:30 sauntered over to the telestrator, the key level to mark was 2500 on s&p where did we close basically exactly that level

a huge level for the market. on friday we said no idea which way the market is going. but what we did say is once it starts to move, don't fade that move and this market closed on the absolute high today. what does it mean for the next couple device? tony dwyer will be here, my sense is he'll be bullish, i think he's right to be in terms of just speed in which the market can move, i think the next couple days will continue tore higher. >> what do you think. >> we had a couple days what was the biggest story? rates? tariffs? facebook you saw today the tariff trade sort of move into the background, but we probably should have had that move into the background on friday when you have trumped say i'm going to veto that spending bill a couple hours later he signs it so we've been talking about all bark, no bite -- >> are you saying you don't believe this administration mean

what they say? >> i think it's negotiating a tactic we have all talked about this. i think it's a negotiating tactic how deep is that remains to be seen, but mnuchin comes out, soothing the market. >> why would that be something we can trust >> mnuchin's comments, i'm not sure he's crafting the policy. i realize he as the treasury secretary. >> we've seen them back off of nafta and steel, and we've seen the carve-outs and we saw it on friday where he said i'm going to veto the -- >> isn't that sort of wearing the market down? i think if it was friday, we would be talking about four, five things that you highlighted that that we always highlight that i think are important

i think the administration is starting to ware down the market i think this administration has done phenomenal things for the market let's be clear i think there is some fear that some of that stuff is coming undone, and that's where i -- >> there's no way of predicting what the chinese will do, and what's different from nafta is that they can't carve out exclusions with a deal just with china. whatever it is, it is. >> if you look at what the markets did, you lee at the upian, dax hit new lows again today. all the european markets looked horrible maybe we get a rally here in the u.s., maybe it's good for a week even i don't think the danger is over >> i'm not saying we're

completely out of the woods. we still have technical damage to undo independents you keep saying that they're backing off. how do i know that backing off means backing off, which means being hard-nosed -- >> are we inherently say it was the headlines about the trade wards that affected the market if we get any headline tomorrow that things are breaking down, straight down again? >> yes. >> there's nothing else that causes -- >> i think it's facebook and china. >> let ate not forget we had a fed last week on wednesday it seemed like they threaded the needle no question that jerome powell was hawkish on the economy he updated to 19 and '20 he basically said we made one rate hike, we can do whatever we want we're only going to talk about this one there's the same issues that had the market unnerved are still there with roll tilt i expect roll tilt will be around for the next decade like

the crisis before central banks got involved. >> volatility came back in early february i didn't know how to special tariff then. >> do you know how to spell tennessee? ibilities ibilities -- >> i think i do. this market started becoming volatile before the whiff of the tariffs. i think there are headwinds, pup given the short terms, i think you can see it bounce over the next couple days. >> if you don't get the sell-off, you have end of quarter, end of month, if you don't get the sell-off before earnings start kicking up, i think you missed the needle. you cannot threat it any longer. i think it would be very heart -- >> if we make it through the

next week, then it's off to the races? >> i think this week you could have the ability -- i don't think we're out of the woods, i think you have the ability to break down if we break that 200th day it's a shortened holiday week, but we have an ability to break down stanchally today, maybe the following week, but after that, i think you have tailwinds or earnings, it will be kind -- >> you have it as long as there's not a trade war, because we're looking for edges growth, if companies can't grow, then you won't have that, the market will reprice the earnings. to me it's so obvious. the trade war is what is driving this market. yes, we had these other things, but what is the immediate driver it's the trade war or lack of a trade war. emerges markets were up 3.5% today, 3.5%.

so these should be most affected by emerging markets. let's bring in tony dwyer. always good to see you >> great pob here. >> bullish, i guess? >> no, our call has been for volatility in the first half i slewabsolutely don't think the trade wars had anything to do with -- you had a ridiculous level of bullishness in january. that's why on the show we were talking about a correction negative news sells. when is the last time it was a dad pushing a kid on the swing it's always negative, negative

tells. to only have 12% bearish, when that's how they get paid is kind of amazing thing i'm kind of the idiot in the room for nine years. because the fundamentals are bullish, mel >> so it can be a combination of things it seems almost as if your sort of theory that there was extreme buggish alternate one point. those were excuses to set some of the most -- boeing hat to be one of the highest valued stocks it is peak it's what offsets higher

inflation. actually again, let's forget my opinion. let's look at the data, two very different cycles, when the fed was flattening the yield curve by raising rates, the product activity tread work, which is the financials the industrials that implement capital spending, technology, which is behind the implementation of capital spending, that's what works. we keep trying to refigure it out. i can tell you from you're desks, everybody is looking like, what do you do the vix ramped to a history degree nobody did anything.

thens retest at the low. typically we break it. ultimately this is kind of normal -- this is about human nature trade wars is the execution. which was those causes you to revise that -- >> at this point you would have to have an armageddon shutdown to do it like the mark is discounting -- it's at a high valuation, and pes will contract. they have, because ear at 16 times. so you have to have a total fail

of this year's numbers, our you've all right had the multiwall compression. if you stay right here, you'll be at the end of the year 17 times. we had a 10% dropped in the market and 20% almost a lock earnings game. at 7.5% up, we were all of us talking about, how, wow, this is too much so where are on the s&p 500 target >> at 3100, add probably too low. it sounds crazy, mel when i put out the -- >> what is that up side you're not accounting for in 3100 >> it's earnings >> well, when i came out with my 1555 estimate, i was high on the street by nine bucks

so every was at 146, i with end to is 55 there's no margin of expanse in there. the product activity enhancement, listen, this is going to end so badly, but that line has consolidate more portfolio managers it's different, because it's just too early let's say you invert the -- your median gain is 21% over the next 18 and a half months and your recession best gins 19 months later. the last like cycles was more up sigh. >> tony, thanks. >> thanks for having me. beginning of the year tony said this year will be volatile. we'll see a sell-off before my 31 target. he said it was too tidy, we'll have a retest.

if you didn't listen to him then, why wouldn't you listen to him now? he's been absolutely spot on i think there's tremendous headwinds, in terms of the technicals, i think the mac did everything you want it to do >> is it a possible that companies may take their estimates down >> if there's a chilling effect, we would feel it now >> you heard today a bunch of ceos saying we're actually concerned so i agree with that they tend to re-rate the cost of equity has gone higher i don't mean the ten year, i mean the ritz in the overall market having said all that look at what was working. coming up, facebook flirting with bear market territory, a federal trade commission says it's investigating the traders thinks there's more

pain ahead despite today's rally, a number of stocks are getting thrown out with the bathwater you might just be pressing that "buy number. the ico, initial coin offer is on fire,% you icos safe? we'll talk about the crowd se.al much more fast right after this. who wants customizable options chains? ones that make it fast and easy to analyze and take action? how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors. 1, 2, 3, go. e*trade. the original place to invest online.

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seems a bit long, but okay... set a memorable wifi password with xfinity my account. one more way comcast is working to fit into your life, not the other way around. facebook flirting with bear market tore torrie as the ftc laumpls an investigation deidra bosa is in sfrafrz with more >> hey, melitta, facebook hit an all-time high, down nearly 20% now this all comes on the heels of more blowback and yet another apology. zuckerberg say if we can't, we don't deserve it, but the ftc was just one available today and could -- the agency is

investigating facebook's practices, and whether the company violated a consent decree back from 2011. mark zuckerberg has been invited to testify to testify on april 10th a company spokesperson tells us they are reviewing that invitation not another facebook representative to appear now, on top of the cambridge annual and call his toys for some android users, calling it an opt-in feature saying it never sells the data or sees the content. shares did finish the day higher, but the big questions still remain, like will have a we'll see if bigger players follow suit. back over to you.

>> thank you, deidra if you just took alook at the chart of facebook today, it was a heroic reversal, about a 9%, 10% reversal from the lows of the session if you didn't do by any of these headlin headlines. which was ridiculous volume for facebook, and i thought 160 it held was a big level so i missed that one, but it came all the way back. i'll still say the same thing. facebook will grow, padres at 19, 20 times forward earnings, i don't think people are leaving i think they're sort of locked and loaded i think it broke a technical level, 191, 95, and that to me

means it's got to do more work in technicals before you actually become a buying opportunity again. i would say 172,80, just to be safe >> how about the fundamentals? i testify you what, i would rather buy facebook than google. the idea that all your -- google is just as vulnerable. , so -- there's no new on google, yet. >> facebook has underperforming, you know have news out -- by the way, there's a report out there saying -- they've been doing surveying, people have been checking in. we've send heard from -- advertisers are not necessarily -- we don't know where the regulation is going to

go, but we may not get the -- that they've been paying a lot of money for i think it's crazy, putting it at the same multiple i think is crazy, but i think the questions is those companies who are out there that are also at risk. when management teams are taking the problem steps. >> i think tim makes a good point. even with that, i still think it's relatively cheap. instagram is a big deal. what's that? i laughed about it a couple years ago. that's a big dial, so i think. still ahead, despite the comeback rally, the charts say there's a number of names that have fallen too far too fast wee tell you what they are and

which ones are buying opportunities. i'm melissa lee. you're watching "fast money. in the meantime, here is what else is coming up on "fast." >> that's what the cryptocurrency sit universe looks like today despite the bitcoin bear market, there's one trade that's heating up we'll explain. plus tesla shares in reverse as the electric carmakers faces speed bump after speed bump. just how bad cldou it get? we have a special report, much more "fast money" right after this

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welcome back to "fast money. a number of stocks are feeling the rath bob pisani is at the stock

exchange for more. >> hello, melissa. a lot of oversold positions. and secondly, we did not have the massive wave of set orders thieves -- we were -- these are the two biggest sectors. they are collectively 4 when me move, the whole market moves that was a big factor in the bounce that we saw today how oversold >> how fast stocks are moving, so it's typically moving it signs a numerical value it's a signal that's it's dramatically oversold.

at the close on friday, here's an example they were all in their 20s this is the most oversold readings we have ever seen even boeing, they were all is sitting on the edge. even three of the five f.a.n.g. names. they were also sitting right on the edge of oversold territories. it's a key technical indicators and it's bounced on february 9th, and it appears to have bottom the today you get a reversal and you get the kind of big move we have today. >> thank you very much, bob.

what struck me was general electric, on the edge of being oversold. >> and i think -- back to what bob said, the s&p had as -- some people do 13 days, some nine, it doesn't matter it was way oversold. going back to semiconductors, if you sold -- you're cutting yew flowers and keeping your weeds i got back in there today. >> well, for me i think it's probably the best risk/reward is boeing we've had two loads there, but also netflix i'm doing it up here

, all right, go ahead. guys, so kre, regional banking ind index, but i looked at basic of america lan week, reacted well today. >> you're playing a game right now? >> we're not playing any game. this is not a game this is serious business here. >> that's not going -- >> which oversold stocks. >> to me boeing is the most interesting one. the valuation, which was concerning is now not nearly as concerning, so you're talking about a stock that's probably trading closer to 25 times earnings i don't think this whole china tariff thing will get that many legs all right. still ahead, tesla with a huge reversal today depiatt fresh concerns over delivery

are there any signs of a turn around we will explain. crypto getting crushed today there's one area of the crypto market that's still booming. it cldha oou skeut to be the biggest trend this year. we have the details. much more "fast money" after this ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, by sensing cyber-attacks in near real time and automatically deploying countermeasures. keeping the world of business connected and protected. that's the power of and. your insurance on time. tap one little bumper, and up go your rates. what good is having insurance if you get punished for using it? news flash: nobody's perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. switch and you could save $782 on home and auto insurance.

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this on news that it plans

to issue 4 million shares of new stock. remember they have made a bush in earlier for it's cryptosubsidiary sale, year to date as well back over to you >> you are still off in my position, but this is a terrible chart,str. there's been some shies with the s.e.c. investigation then the story is over this is not for the faint of heart. >> no. >> it's not enough to scare you.

this is uncharted territory. which is make me more nerve out. i think a lot of it is just normal state of affairs. >> what we've seen is it just seem to me for every good ones there have been however many, but certainly more than one that have not only not been real, you know, underlying stories, but actually challenged true s.e.c. kind of guidelines this would concern me. again, i think this is something people have to follow through on despite the racket, still a hot year for icos. >> speaking of initial coin offerings, they have drawn a lot of scrutiny from regulators, but that hasn't stopped startups we're not even done with the

first quarter yet. the latest data shows that it's topped almost $3 billion though keep in mind a recent survey found that nearly half of icos in 2017 have failed this year over 40 are under way for crippo dragon coin and banque the biggest is telegram, which has reportedly raised over $1 billion. at the same time the s.e.c. continues to -- it -- to ban y cryptocurrency-related content check it out bitcounsel down 40%, ethereum down 33% ripple off 70% here in 2018.

while the ico market is somewhat insulated from the day-to-day price volatility, because the price horizon is much longer, some experts say if the sell-off continues, the good times can't last for among melissa? it. >> it may see counter-intuitive that they're doing okay as the major cons are plumb etting, but it seems that people are reaching for better return. >> but icos are doing better in terms of raising money a lot of them aren't doing that well one they start trading on the public market. all sellers come out i would be very careful. we do some of them, but that number of 45% have failed last year, i think that number is going higher >> and fail means, what? the company no longer exists >> here's the problem that you have with these, right these people have raised so much money there's not a lot of incentive to continue to do

work they're kind of like zombie companies. they go on forever, though no product is delivered i would just say be very careful. for an inside look, let's bring in andy bromberg andy, great to have you with us. i would imagine there's a lot of prospectuses or plans coming across your desk for icos. do you have to reject a lot? >> right. >> what is the hit rate? >> very low. coin list has had on this -- so we say certainly the vast majority are really low quality, scams or fraud i think what's important here is doing that diligence and figuring out how to diligence them they're incredibly risky, but

it's not like you're going to vegas to gamble your money away. >> so in terms -- brian kelly was talking about how some companies were raising the money and after that they weren't actually incented to do -- other than just having the money that seems like a straight yow scam how do you determined if somebody is incented to do something. that seems more akin to being a security versus just a fund-raising device. >> the chairman has set he has yesterday to see an ico that's not a sale of securities it doesn't mean the tokens won't be securities, but certainly at the beginning, our sales of securities, the early building of a company so when we look at it, we look at it like an early stage investment, deciding if they have integrity, a high quality

technical team and that's where you start once you get past that, you can look at the details, how the sale is structured you have to doed same team evaluati evaluation, and that's really helps you determine so or just raising money. >> but embedded in investing in an i want co is the belief that the token will retain value. how have the coins done -- >> so of the coins we have worked with, none of them are trading yet. this is an important consideration. they're still looking forwards building their -- and building these networks and having them accrue value is a long process it's hard technology

not trying to make a quick buck. you have the ones we have worked with publicly, they all sold securities, now they're off-building and soon will launch their tokens on various timelines and build value and see them increase in value hopefully, but certainly we're not looking for ones looking for the initial pop, and then trying to get out of the market. >> andy, it's b.k. twitter says they won't do crypt os currency ads. does that help or hurt your gets >> it doesn't have a huge impact on coinless business, for the sales we work with >> i will i think it's a smart move evaluating the sales is really hard it require expertise that very people have because this industry is so new if i were these companies banning ico ads, i would be saying, listen, i don't know how to evaluate these yet, let's take a breather, figure out how

it's going to work, and then come back it but i would rather have no ads on there rather -- so i think it's a good move for the instrument what was tazos in your view? the notion that the foundation would be in charge of the money and the cofounders were in charge of the sourcecode, that seems like a really bad set up, especially for the people investing in the icos, how has that changed in terms of management and govern quantities should it be foundation structure? who should have control over thinks distributed networks? if we thought back to venture capital in the 1940s when it got started, we did not have structure. we're excited about building

product in their fund, so they have inyennives to build it out. and i think a lot of the early icos that happened even up to the third quarter of 2017 didn't know exactly what they were doing. they were guinea pigs, and we'll see a lot of innovation, and a lot of tight government controls. >> how often do you talk to the regulators these days? is this like a daily occurrence? do you have a team in washington >> we certainly have a constant dialogue with the regulators regulation is oming, and the regulators have been reasonable. they came out and said we thing existing regulations should apply to this. we need to figure out exactly how. having those conversations, helping them to understand the nitty britty, and understand how things are working around sale structures, is something that we at coin list are doing a lot of time doing and taking time to speak with

the regulators. >> anti, thanks for your time. andy bromberg of coinlist. >> he said the advertisers don't really know what's on their site, and i think there is -- even brian talked about that it's very difficult to evaluate a lot of the icos. we talked about the volume and how it's picked up, but think about the month that'sic raised. and i think it could be misdemeanor leading. there's guys who have built a business, and they have to invest in them that doesn't necessarily mean it's been a successful year. >> so it's a virtuous cycle? there's money diagnose deployed. >> their hawaiian point is we're going to find the next ten backer >> and these companies that are doing the ico, they're taking in ethereum now they need to sell it to pay their bills in u.s. dollars.

coming up, microsoft surging today. we'll hear from the analyst behind the bold call. tesla sitting in a bear market as the company hits another speed bump over delivery expectations i high flying days behind it much more "fast money" is still ahead. evator. evator. nothing's wrong with the elevator. right. but you want to fix it. right. so who sent you? new guy. what new guy? watson. ♪ ♪ my analysis of sensor and maintenance data indicates elevator 3 will malfunction in 2 days. there you go. you still need a pass. ♪ ♪

welcome back to "fast money. shares of tesla in a big

reversal today what is wrong with this stock? phil lebeau is here on set >> we're all waiting for next week that's really the story behind tess that. there has been some news over the last 24 to 48 hours. let's start off with elone musk twittering -- tweeting over the weekend they're going to slow down deliveries to norway, because they're having troubles managing them going into the country. finally they're awaiting q1 deliveries that's when when you take a look at shares of tesla, anythingingly you are hearding from analysts the i don't think

they're going to make 2500 by week this is not a surprise, given the fact that ben callo generally has been pretty bullish. we continue to believe the company will achieve a production rate in a matter of weeks, not months, despite significant kept simple. there's a lot of skepticism out there which ultimately sets of the question so the question becomes, how long do you wait? how long do you say, okay, will it do it by the end of the second quarter if you can, maybe i'll wait, or are we looking further out. >> it seems we've had this discussing -- we could have been having this discussion the last three years. >> absolutely. if you listen to the chatter, they don't seem terribly concerned about the model, do they, phil do they think they're going to

be interrupted out of the same space? >> not yet in part because they're looking tut production issues and if we see this become a hot model. remember when the prius came out. that spooked the traditional auto makers. >> it was ugly, but it was hot there were people waiting for it that's the kind of thing that spook them. >> even if tesla can liver are deliver in edmunds was skeptical about the fit -- >> and cnbc.com, laura has done a number of stories about how they're having to do some remanufacturing. these are all the issues that people have predicted for a long time, saying it's one thing to be a niche automaker it's another to be a masked automaker. >> what about this, though could they be in a sweet spot, where no one expects them to make production numbers?

so if they miss again, everyone says, well, we're used to it already, and maybe it will still be a slow slide, or technical bounces, but if they do get close or above consensus, or maybe they hit a production number, what happens then? >> i think the stock moves higher people have wet set don't expect it to be the news next week, and perhaps they will give us some indication about where they are in terms of their production schedule. >> you said 180 was -- >> 280, so back to 2014, the high was 280 prior resistance bucks support tim has been spot-on, and it's interest this market rally couldn't have come at a better time. to steve's point, i think steve is spot on we have become so desentence advertised that if ben cal low is right, this stock will be

treat -- so in my book, i think the move today was enough. >> i think as a trader, you look at this and say where is the support, i said to be in this. i'm thinking i'm already priced in if he's right about it, you're up 50 buck easily. >> good to see you in person enjoy the auto show. that's why you're here, right? >> yes. >> good times. morgan stanley says ted reach $1 mill market cap, but what has them to bliulsh do not go anywhere much more "fast money" is still ahead.

microsoft and these cloud services are expanding the market opportunity by making it a lower cost, easier to use and expanding the amount of working can do in a cloud environment by the types of workloads we think they're expanding the overall market environment and creating their own market, if you will. >> that's keith weiss of morgan stanley earlier on "trading nation." weiss explain that the cloud big could ultimately propel the -- so with microsoft hitting market cap for the night it's officially joined in the race to $1 trillion. could microsoft actually finish first? >> of course they could, but i

don't think they will. the space on the public clout, it's amazing what they have done the last four, five years. i think competition gets more severe apple has a healthy head start, and i think they're reloading the gun even though they're competing, awsyou.

april is next, may, use could derby. baseball opens this week movie h microsoft has to rally significantly in a one year's time for a stock that real sways-wise might be priced a bit higher that will be a long short. >> mike? they sees about -- as the other three at the same times you just mentioned. those are bullish bets, which would represent a market cap of 775 billion $, so i guess they're thinking that the march

is going to happen >> thanks, mike khouw in austin for you. we're off friday for the holidays check out the full show the week tefray up next, final trades. so lionel, what does being able to trade 24/5 mean to you? well, it means i can trade after the market closes. it's true. so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are you? what's critical thinking like? a basketball costs $14. what's team spirit worth? (cheers)

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>> nvidia. >> grasso? >> sell micron, locket in profits, time to go down. >> guy. >> to tim i say dime, and then i say amd. thanks for watching. see you ckba here at 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 save 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. >> how does a market go from dismal and