tariffs and wages and that will be the secret. he disagrees. >> i just don't think trade is going to be make or break. >> a pleasure as always. thank you for tuning in. have a great weekend everybody that does it for the closing bell fast money starts right now. >> fast money starts right now live i'm melissa lee your traders on the desk tonight on fast, bitcoin inching toward $10,000 for the first time since march has an even bigger rally ahead brian kelly will be here plus where's the magic disney stocks are struggling despite dominating the box office but it could all change next week. why one trader is betting the stock is about to break off. but first, we start out with the market rally more than 300 points after a jobs report seemed to set fire to stock and investors seemed to shrug off this week's volatility but it was these words that got

wall street really excited. >> it was unbelievable if you look at apple, i think it earns almost twice as much as the second most profitable company in the united states it's a wide, wide gap. it's an amazing business here's a company that is, you know, whatever the earnings are, 60 billion or whatever and you can put all of their products on the dining room table. >> the oracle of omaha unveiling to cnbc that he bought 75 million shares of the tech giant in the first quarter adding to his already large stake and everything is awesome for apple. up 13% this week alone so does apple keep rallying from here can it take the rest of the market along with it >> who sings this song >> whoever it s they should stop. >> stop singing it

>> tegan and sarah. >> back to the topic. >> continue to rally from here we discussed the quarter the stock opened around that $175 level and hovered there i didn't think it was anything spectacular. the reason why it rallied today obviously is its a buffet headline historically we have seen this, mr. buffet comes in and you see rallies in the names that's what we'll see in am but if we're going to somehow associate today's market move giving any credit whatsoever or some of the credit to apple i think that's wrong the market was doing this today regardless given what you talked about at the top of the show. >> i agree i think this was the catalyst. this added to the fuel or the kinetic energy as todd gordon would say. once the momentum started it fell through but i didn't like his comment that all the products could fit on one table. that's the negative on apple you want to move into the cloud, into the services arm so if

that's up 31%, i went into the print long, i'm still long but i do like guy's call i think i'm ready for a little on monday and tuesday. >> i sort of feel like the tone the market was yesterday really from yesterday's lows to today we're up more than 700 points we should have seen that coming yesterday. >> yeah. the bulls on the desk last night had it right i didn't think there was a payroll number and you haven't talked about that yet today. there's a payroll number that was down the fairway in terms of how benign it was in a world where we have been concerned about this number. with all due respect to the oracle who has proven time and time again but chasing his three month old trade is not what i want to do so apple i think those numbers were all about the services. that was 14.5% of the overall revenue mix which is fantastic what are we going to be a $100 billion company in a couple of years just in services that's very good you'll get your 225 million

units this year but more importantly this is a company giving back cash very, very rapidly and they are 50 billion in free cash flow a year typically and the 100 billion wasn't really new news but it was good ews. >> it's been 160, 180 has been the range and when it gets to 160 buy with your eyes closed. 180 is where it's becoming a funding short. i don't believe there's a lot more upside here i think it is the buffet sort of -- >> i want you to finish but when you say 160, there's not -- buy with your eyes closed a lot of people are saying it's a hardware company and you have to get out of the name. it was i think the story is over >> i think it was a pie it wibu your eyes clothes. there's con component of it. the street expectations on the services side, they don't have high expectations.

very flat expectations so if they can ramp that business you'll see an inflection in street numbers that could meaningfully shift and take any sort of like margin, you know, decrease comes to the iphone and any hit to the iphone that could offset it dramatically that's the part of the equation that people were missing at that level. plus other things that would have driven it higher. i think it's overdone. i think it settles down. >> i think we're making too big of a deal out of a $20 move in $175 stock it's moved plus or minus 10% like many of the stocks in the market. >> the stock for the week is up 13%. easily it could have said we already had this rally so we're not going to rally anymore. >> so your original comment was what's the allegory for the market until the s&p gets above 26.75

it's still breaking down every single time on this down trend we have a great chartest coming in here but i needed to get that in first. >> what if it's not. >> i might get up and leave. >> app ael was a lot of short. >> maybe it was the day that apple reported or the day after apple had a big gain, what do the markets do >> and dan nathan that's going to be on this show in 24 minutes -- >> different show. >> different show but he'll telling you the market, apple can rally without the broader market i'm with you the s&p still has a lot of work to do but today in terms of the jobs number there's nothing predictable about this market but given what we have seen and the way it bounced off the lows yesterday it was some what predictable. >> what seemed interesting to me

was the leadership in the market we saw tech and staples. >> earnings were so poor for a lot of companies over the past several weeks. you had better earnings that shifted gears for people and i think people were caught off guard so you saw a rally basd on th -- based on that. >> staples have been so oversold we have talked about the ten year and staples people trying to reach for anything where it hasn't rallied or become overbought even with these little pivot rallies staples fits that bill. >> our next guest called the am break out on monday. >> apple isn't ahead of itself it's made no progress. it's dead even with the market for three years so we can't consider it a runaway stock or expensive and then the chart itself, no lines here come the lines. and i'm going to make the bet that we bounce, bounce, bounce

so long for that >> that was a great call apple hitting all time highs having it's best week in 7 years. nice call carter but will apple get the broader market going what do you think? >> i suspect not but let's talk about it apple came out well after it's results when that's not the case for the large s&p 50 companies but the market itself is an optically clear sort of situation meaning the lines that we put in will make it clear in the sense that it's a well defined series of lower highs and higher lows. indecision is resolved sharply so if we do put in the lines you can see this set up, here's the longer term chart. take a look. now it's all about the tension occurring right here this has bounced to the penny to

the penny to the penny and we're working tighter. that kind of set up is resolved sharply and a lot of people think it's bullish for the reasons that we know earnings are good and taxes are improving and a lot of people say it's the end of the cycle. we're likely to get a big resolution out of this my hunch is not based on the chart. it's based on the stocks that compose the chart. the whole comprises the parts. so many individual securities have already broken trend. the presumption is that that's the way the market goes. >> carter comes over. >> sure. are you kid mega after that apple call. >> ryan is going to bring the chair. >> thanks, ryan. >> we should go over to him. >> yes. >> that would be very crowded over there. >> okay. >> very crowd. >> which sector is causing the most concern as ait relates to you believing that the s&p 500 will break lower >> so if you think about the two

areas of the market that were considered the most porn because of their headline opportunity financials and industrials one because of tax cuts and and industrials are particular and had all rolled over and the big banks are not getting a lift as rates moved to thre3% it's the most offensive thing you can do. >> i'm going to reverse the question can apple rally without the s&p rallying and you're negative on the s&p. apple you think can rally. can apple continue and at what level? because at this point it feels like it wants to revert. it feels like it wants to give a little bit back and add that explosion to the upside. can we get back to 200 or 210? i'm a big overshoot guy. do you see it breaking out to above $200 >> you know, i put out a note

following that thing that said that one is well served to take profits into the move but it's gone further i suspect it's got some more in it and it didn't hurt to have a certain person talk about it during the week, yes. >> you know what's interesting is i talked to another technical analyst this week. >> you know what -- >> i had to. i was on squawk box. >> you guys were on break. i had to talk to her. >> she had the same chart and she thought the s&p 500 was going higher so are we at a point here where simply your interpretation your hunch >> it's the same way you can have a securities analyst, highly trained, qualified, certified, has a buy in the stock and this equally qualified individual has the same information and same spreadsheets and same models and access to management and in fact the best things in life are subjective so either the judgment --

>> stop right there. >> that is very true. >> deep thoughts. >> can't talk the rest of the show until i say your name, melissa lee. there you go. >> that would be unfortunate good to see you. how about the levels you're watching this week we didn't have explosive volume which makes me question the move. >> coming up, bitcoin nearing $10,000 and it has the crypto universe in a frenzy ryan kelly was at a fed gathering where interesting things were said about bitcoin plus it is the attack of the shack. shake shack up 20% having it's second best day ever we'll tell you how long this

burger blowout could last. and later could disney ceo bob iger deliver there's one thing that could send the stock soaring we'll tell you what that is. live from times square in new chor cy. mu me fast money right after this so is my lawn. now there's new scotts thick 'r lawn 3-in-1 solution. with a soil improver! seed! and fertilizer to feed! ♪ ♪ now yard time is our time. this is a scotts yard.

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>> what is going on here bob breaks it all down hi bob. >> the recent low for bitcoin was $6,600 but since then it's up 45% it sold off going into mid april. many attributed this to tax selling pressures and some holders may have to sell their coin to pay taxes. the real turnaround occurred on april 12th it served 17% on heavy volume despite regulatory set backs it's been gaining respectability this year. volume has been increasing slowly and it was up another 7%. coin base announced higher limits and instant trading to their accounts there will be additional

security to help present unauthorized sends of digital currency in the last week of so bitcoin had a trend line there's a negative trend but that down trend has now been broken back to you melissa. >> thank you very much for more on where bitcoin is heading let's bring in our crypto baller live from the hoover institutions monetary policy conference there's a lot of fed tisofficia roaming around there and how the fed is going to view bitcoin, there's a number of white papers put out by regional fed offices around the country is there a general consensus at this point >> i would say not necessarily although there's been a lot of thought put toward it. when i would go to evens like this in years past you would dismiss bitcoin but it's been brought up several times at this

conference and taken seriously and you have to have with market cap at half a trillion dollars at this point it's a serious market. >> is there any regional fed in your view that's taking the lead on this? you would imagine the new york fed might take the lead but the st. louis fed put out a white paper pretty recently about this. >> yeah each individual fed has done good work on this i know steve has been talking to a lot of them today at this conference i have not noticed a particular fed that's taking the lead although the st. louis fed what was interesting about that paper is they really compared bitcoin to currency and how the valuation was very similar so we, you know, talk a lot about is bitcoin in the bubble or not in the bubble but they just said essentially the value is the same or at least determined in the same way. >> there's also a place

specifically in terms of acknowledging the value of bitcoin in terms of the function what are some of the catalysts that you see that could possibly keep this going higher >> a couple of different things. if we look back historically the last time that goldman made a big move was when they bought into circlen the s financial they are the leader among the institution so that's one catalyst we have number two, we could get some regulatory clarity and the one thing that's interesting is bitcoin is clearly a currency. almost everybody that i talked to and people here at this event are thinking about bitcoin as a currency and not a security. we'll decide later on about the other ones but bitcoin is getting a little bit from that and the big event is in new york coming up next week on may 14th and he essentially everybody from the world will be asending

upon new york to talk about crypto currency. >> we'll see you back here then. a assume that you're going to be here in new york for that. >> i'll be there. >> all right see you then. >> bye. >> what do you think of what we have seen in the price action? bob had an interesting technical chart. >> i think the technicals are maybe the most impressive and around 9,200 you actually stop bitcoin above the down trend that started in mid december and then this powerful 100 over the 200 lead to the explosive move higher so i think for now i would agree with that technical view that bitcoin stays in the zone. >>6,500 a couple of times. if you didn't have the name on chart and just the chart and we talked about it then, you can trade against 6,500. and it's worked. i will tell you and steve i think said this last night goldman sachs getting into this business will look back on six months where ever this thing was trading and say that was a turning point for

cryptocurrencies in my opinion. >> i bought back a 2-thirds position waiting for the market to wash out and when you look at their bitcoin play and when you see adoption, if adoption increases and becomes more prevalent throughout wall street banks then there's going to be more bitcoin mining, and and those stocks performd. >> they're going to be there a buyer here. >> still ahead it is a burger blowout. fast food darling shake shack having the second best day ever. come on guys but one trader says it's not too late to get in he'll explain why, next. i'm melissa lee. you're watching fast money on

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another 32 to 35 u.s. company owned stores. >> i'm not a big fan of the story. it's still very overvalued it's a difficult and it's a much better play at a value withdrew wags perspective. >> the stocks are doing a lot better when guy stopped working there. sales up 29% this is now a growth story again they're going to grow four or five new in addition to the domestic i like it. >> the day i started working there was the bottom of the stock. >> for sure. >> and now we said on the show that day look at that.

>> no gloves. >> i'm shocked they even let that footage out. >> well, they let it out they have 25% operating margins. >> doing a good job. >> you just mentioned digital. >> i think time to sell dominos. he put a lot of turn around in place. you have to lock in some profits. i do like the short interest. >> shifting gears it's called the most exciting two minutes in sports the kentucky derby will kick off tomorrow. the traders will pick out their long shot stock pick. >> at&t. there's only upside.

>> match group get long maybe you find some love. >> we'll rally into that. >> that does it for us here on fast be back here monday at 5:00. don't go anywhere. options action starts right after this break (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring)

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