down less than 1% at this hour. >> i didn't know rolls-royce was owned by bmw if they're making 33 -- if that price -- yeah, that's -- >> you know, you have to have something at the top of the pyramid if you're a brand. >> bmw has sold a lot of cars, but they made the pivot too. thank you very much. that does it for "closing bell," everybody. "fast money" starts now. >> live from the nasdaq market oversite overlooking times square tonight on "fast," bitcoin can't seem to crack the $10,000 level, dropping back toward 9,000 bucks today. a top technician says history is any indication, something happening next week could have the cryptocurrency soaring robert sluyner will be here. conference call kicking off right now, we'll bring you all the details. first, we start off with the market rally that's right everything is awesome again. the dow surging nearly 200

points, back in the green for 2018 now up 1200 points from thursday's low last week so is it safe to buy stocks again? will the market momentum last? timothy? >> it is safe to listen to sarah teigen again here is where i think we are we had an inflation -- thank you. it is safe to listen to it again. just so people know i don't really know who that band is treasury ten year to 303, pulls back, dollar pulls back. you had a number of the good earnings settle in you're seeing the market reward the companies that still make sense to take it higher. we'll talk about invidia in a second that's one of these, is this all we get relief from the fed, out of the way, relief from inflation, the fact that you're actually seeing the dollar soften up, those were important things today. >> relief from the fed aren't we gearing up for june? there is still a lot of uncertainty? it feels like the market is more

accepting of these uncertainties with which we were presented a month ago. >> we got the fed out of the way last week. we can focus for two weeks >> i was thinking this was pretty much as good as it is going to get in the short-term we had a huge run, the vix today below 13 right. that to me said you got to buy more puts. want to hang on to your gain, you have appreciation, you have more market risk buying puts here, i bought some caterpillar for a trade after that conference call that sort of went awry, but i didn't think it should have i sold that today. i'm looking to lighten up. this has been a huge, huge run on really why, i don't know why. change is sentiment. we can get one hot number and all this feel good, you know, goes away. >> you were kind of confused on the other side you appropriately said these numbers were good at caterpillar. it sounds like you said, you know, now i think this market should go sideways to lower. >> yeah. that is what i'm saying.

i thought caterpillar underdone on the downside, bought it then, now i don't have a huge -- lucky to have a good one we have a huge run, i feel like i wasn't dying to be long cat, i was playing the -- the market misread that earnings call. >> an extension of the momentum we have seen in the past month, particularly in the f.a.n.g. stocks, momentum stocks. we're going to talk about invidia. we close at a record high. we saw that time and time again. the trade is that they trade up later on >> buy the weakness. invidia, that's a perfect example of a name, in the short-term, that will continue to work. no reason why you take your foot off the accelerator of that story given the gaming -- strength in gaming ai, the data center buildout. >> is that emblematic of the rest of the market >> i think momentum is back, i agree with karen to the point we could see a little bit of a pullback near term based on the fact that things get super accelerated.

invidia ran to the number. overall market, i see it both ways, i see that you don't short a dull market. we're out of the way with the fed, out of the way with earnings, we are in this floating coasting period where the iranian incident didn't affect the markets nothing is affecting the markets. you don't want to get in front of it. the guys that got short, they had a cover. you start to see it break out. part of this has to be short i always believe that a rally starts with short covering they're the saphiv savvier guys, they're leaved a little bit, they want to cover their positions and that sparks a lot of algorithmic buying. this is not the time to buy the stock market now let it simmer down a little bit. hold the mark before you start to put money to work again. >> what would be the signal to buy at this point? we have seen the oil trade kick higher we have seen interest rates go

higher, the markets are okay with that right now. maybe these things are telling us that economic growth is actually here in tech sector, biggest sector, it is going well. >> the bulls can say we overcome a lot of things that the market didn't want to deal with, which were all the things we talked about for three months we know what they are. and the bears will say, those things are still with us, and as you point out, look, the fed is still very much, i think, in play what steve is talking about, you took out important levels, 2685. once you got boyfrieabove 2705,t i've been saying for the last two to three months is i don't feel great about rushing back into stocks. i'm not going to tell you tonight that everything is all clear. i will say that those technical levels were very important and tactically for example i bought some at the end of yesterday >> just to be precise, 100 day moving average is 2706

what tim is talking about, when we broke above 2683, that was that descending trend line where it was a lower highs that we were starting to really start to hash up on a regular basis once we broke out of there, it makes everyone kind of scratch their head and say, okay, are we going back to 2872 that brings us back to old highs in play. but the market has to digest this move. you can see an aversion trade in the next couple of days. >> the difference between this, we talked about this last on the show, the momentum, look at the momentum index, comprised of 25% roughly technology names, 25% financials and banks, they're rallying together in a way that is significant in my opinion we look to technology to bring us out of that lull that we recently had it is helping. the financials and the banks as well are there alongside it. the momentum trade is back on. i think this market can carry a lot higher than we think it can. >> we think we can take out the

26 levels on this run. >> i think we can. facebook fears are over. i can look at facebook and -- >> how can facebook fears be over >> it is over in terms of th price. we're back to precambridge analytical levels. i don't know if we're through the worries, i don't know if we're past the possibility of lawsuits or the past possibility of -- >> look, facebook, google suffered for two years going into that analytical event on the prospect of more regulation and a heavier hand by government, whether it is antitrust, whether it is -- so i don't know how you can say facebook is out of the woods. >> it is based on the data we're seeing as a firm >> have data on how gdpr -- >> we're talking to them specifically when we talk about it not being a risk and going forward. based on their -- the breadth that they have i don't think it is an impact. core gross margins at google are an impact. that's a concern with the street >> in terms of market, do you

buy that if technology and financials are rallying strongly together, that that is a signal the market run will continue or would you rather -- i didn't mean this to be a would you rather -- would you rather technology and industrials rally together >> i would rather technology and industrials -- that would be good then now that signals to me growth and we talk about cat and the end it is as good as it gets cat was talking about margins as good as it gets. wasn't talking about the economy as good as it gets that might have been a stock specific story i would rather industrials as a whole, and technology run, but to the point of taking out new highs, you need a catalyst here. we're still range bound as far as i'm concerned we have a little higher end of the upper range, but you need a catalyst to get us back. >> a lot of good technical folks on the show have said these are goal posts your sanity sectors are financials and transports. those are the ones. >> part of industrials. >> sorry >> part of industrials >> yes, if you want to get --

>> our next guest says don't worry, be happy. markets are heading higher let's welcome jeffrey mills, pnc financial. jeff, welcome. >> thank you for having me appreciate it. >> sorry about the phone. >> welcome. >> there is skepticism on the desk about what will bringets hr what do you see? >> we tested the 400 day every time we tested that level, it has been on less and less volume i feel like the selling pressure is starting to abate a bit that's part of it. we talked about market leadership i look at small caps look at the breadth there, the participation of the small cap sector, more and more stocks are participating in that leadership i like that. we worked our way into this wedge pattern. we're making lower highs and higher lows and the market can't decide which way to go all of a sudden, at least over the past couple of days, it seem s to have broken higher. it is a good sign.

typically you make a break after that sort of wedge pattern, the momentum can continue. we like that in the short-term. >> small caps would be a great barometer right for domestic growth for growth here in the united states. what are the sectors you want to see follow that in order to make you confident in a broader market rally >> i think there are a couple of things we're looking at specifically we talked about energy before we came on the show that's one we like financial skills, the banks. we don't think it is a net interest margin expansion story. you have a flattening of the yield curve even if yields continue to rise, a little bit of trouble there i think it is more of a potential loan growth story with deregulation you can pick that up if you look at small business loans as a percentage of total loans, then that's what they're trying to correct by deregulation, trying to lift that if you can see some loan growth, that's good. we did a little bit of work where if you look at sectors levered to cap x spending plans, financials have the highest

correlati correlation, we expect to see that in the second half of the year most companies they were going to increase cap x spending said they would do it in the second half we haven't seen it we're looking for that follow through. if we see it -- >> when you see -- it is easy, tim, right on the side you see the small cap outperform, are you thinking more it is correlated to -- you mentioned cap x too, you think it is related to tax cuts, we're seeing the 35% going to 21%. we're starting if see that get back into the market other than just a corporate repurchase, and if you like financials, and energy, energy is not enough to keep this market up. too small a percentage of s&p. so financials have to do it. what other sector will do it >> energy is too small for an energy trade, that would be specific to the sector. we wouldn't be looking to that you'll continue to see tech to do well for the market to move higher broad valuation of the sector, look at specific names, but broad valuations may not be a

stretch as folks may be led to believe, given the run it had. and if you look at the momentum and the tech sector, the number of names above the 200 day moving average, it is the highest across all sectors still actually broad momentum there in the tech space. i think if you get that along with financials, it could bring the whole market higher. >> jeff, thanks for coming by, appreciate it. >> jeffrey mills tim apologizes for his phone going off two times. turn the ringer off. turn off the ringer, exactly what did you do today, karen >> buying puts, a couple of things i'm looking to do i think more toward taking money off the table, selling some upside calls, i just think again what a run we had in such a short amount of time i believe we're going to see inflation. and so, for me, tech and financials are decent places to hide out maybe even benefit in inflationary environment, energy probably would be as well, particularly if energy were the cause of that inflation. >> right >> mr. bull. >> i am mr. bullish.

i'll take the opposite side and give you a negative one. walmart, incredibly negative on it i think this flip card deal is an absolute disaster for them. the buildout, the infrastructure buildout alone is going to cost him a tremendous amount of money, people are unaware of it, not focused on that part margins will continue to short there. it is a sell there is no reason for that stock. i think people will get their head around the actual costs to building out the infrastructure. >> i got long match.com, i got long tesla and longer in the last couple of days -- >> held on to match. >> i didn't sell it. i think you'll see that back to the mid-40s. >> you didn't swipe left. >> i don't know what direction they swipe now that's why your phone kept ringing. >> tim, what did you do today? >> i faded the rest of an alibaba position with emerging markets, you can

play this longer the banks, if anything, the way they traded with the flat, as bad as it got, stay with the banks. >> check out shares of the cloud giant drop box the stock sinking. deirdre bosa spoke to the ceo. bitcoin sell-off, dropping a percent in the middle of the day. later, the last time karen picked a stock, it rallied more than 20% so you're going to want to get out your pen and paper what could be even better and here is a hint, carl icahn might agree. chmu more "fast money" after this this scientist doesn't believe in luck. she believes in research. it can take more than 10 years to develop a single medication.

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welcome back earnings alert on drop box stock is sinking let's get to deirdre who spoke to the ceo more details >> one of the big questions that analysts had going into this quarter was how drop box is going to convert its premium model into more paying users and attract more enterprises

now, as it moves up stream it gets in a competition with behemoths in the cloud space, like amazon, google, microsoft i asked ceo if he faced an uphill battle on this front. have a listen. >> that scale starts with our 500 million registered users and they bring drop box into millions of companies and now paying business subscribers. we're applying the playbook it business software so we can drive the exiscale in an effici way. >> 500 million sales people. but that portion of paying users still tiny relatively just 11.5 million users. i managed to increase it by 500 million but analysts will be looking for more going forward in the after hours drop box pairing some of its losses down .8%.

>> thank you very much let's trade drop box this is your stock here. >> so i even have a long position this is about them getting more people into the advance and the professional, which beat on this number i do think competition is what this is all about. people don't think they can compete with the behemoth. they grew 25 last year growing their margin base is what this is about. >> drop box was the first to go public valued at less than $10 billion. the stock is up 50% since the ipo in march will we see a herd of unicorns follow it into the public market what do you think? >> yeah, it all depends on where the market is, if the market is right around old highs, you want to have a -- >> does that matter? we're looking at a market where technology and momentum names are doing really well. isn't that the exact market environment that these guys want >> sure. usually when you have technology and momo names doing well, the overall market is doing well we're probably seeing the same

thing. i would think that you need a higher market, people have to feel good about these speculative bets i got to tell you, this is tremendous reaction after market, it is literally down 80 bits now not even down a percent. i think this is kudos to bench and what they have done. >> i think the unicorns, if anything, they're not coming public the ipo market is as strong as it has ever been you talk to a bank now, they're fired up and busy. it is all the pushback from companies saying i don't want to be public and the big boys have the power not to do that. >> if early investors don't want out, and they don't need the money -- >> kick the can down the road. they want to push off an ipo like tim says, as long as they can. remain independent and not have to deal with all the other scrutiny, if you will. i look at it and say i think it will be pushed out and continue to be pushed out the valuations will appreciate for them. >> i wonder if they have already appreciated, so whatever that margin is to go public, we look

at wee works or something like that, they tapped the bond market, but haven't seen the equity yet, maybe there is not enough cushion and it is a huge transformation of business to go public. >> yeah. drop box lost 3 billion waiting. i will say that valuations as karen said have kind of hit a level and wee works is going through problems too people are looking at the companies differently. >> still ahead, invidia sinking after its earnings report. the conference call is going on now. the latest comments from the ceo about all things crypto and gaming i'm melissa lee. you're watching "fast money" on cnbc here's what else is coming up. ♪ off we go into the wild blue yonder ♪ >> as the market soars, a number of widely held stocks are approaching all time highs we'll tell you which ones the traders say you can still buy. plus - >> what are we waiting for let's go to broadway >> yeah, that's what a number of hodlers is saying as the biggest bitcoin conference comes to new wh it atcould mean for bitcoin when "fast money" returns. live.

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welcome back to "fast money. the most well known names in crypto will descend on new york city next week for a giant event that has crypto investors giddy with excitement. seema mody has more on what to expect. >> it is the biggest cryptocurrency conference in the world. expertes say judging by history, the event will be market moving. the conference is called consensus and attendance has increased over the last few years. 1500 attendees in 2016, which nearly doubled in 2017 this year, over 8,000 are expected to attend with 50% coming from outside the u.s. the growth underscores the intense interest in cryptocurrencies around the world. what is the big deal it is the biggest names in

cryptocurrency and block chain genesis capital among others will provide their outlook on how the cryptocurrency ecosystem is evolving. serious topics will be discussed including the world of federal reserve, which james bullard will tackle when he presents that consensus on monday european parliament member will speak on regulation. u.s. representative david sweer will discuss governance and frederick smith on how block chain will transform the supply chain and logistics industry late in the week, twitter and square ceo jack dorsey will take the stage. cnbc will be on the ground with all the highlights the conference comes amid renewed bullish calls for bitcoin. tim draper told cnbc within the hour that despite recent volatility, bitcoin is headed higher >> no one has ever hacked the bitcoin block chain. it is the most secure place to

put your money and so as a stored value, it is a great place to be. >> bitcoin trading above $9,000. melissa, back to you. >> seema, thank you. our next guest says history suggests the conference will in fact be the next big catalyst for bitcoin. let's go off the charts, robert, what are you seeing? >> so tom leaf did a little interesting study looking at how bitcoin behaves around consensus events if we go back to 2015, as we pointed out before, 500 people at the conference, bitcoin moved up 23%, which is not a huge amount give how volatile cryptos are. it tind it continued up. 2016, bit of a smaller move around consensus you can see that was a point where crypto began to accelerate as well. 10% move here and went up for another 80% or so. we get into 2017, really sort of a very high profile event, lots

of people involved in crypto the cryptocurrency moving around very volatile. and we come into this period here, and you get a 69% move in the week that the consensus is on pulls back a little bit and we had that big run into year end what are we looking at this year if you think about where the 40 week or 200 week moving average is, 200 day moving average is, on the 40 week, bitcoin is just pulled back to support and we think this is an intermediate term, multimonth low, which brings us into the next picture. the short-term, as we discussed just a week ago, bitcoin had a big run, up almost 50% into its 200 day and on saturday, it reversed off this level and is pulling back a bear scenario developing where folks are arguing it is going lower. our view is, this is a much bigger bottom that developed if that's the case, this pullback will be shallow it is already pulling back from the 200 day.

sitting just above the 58 moving average. between 8800 and 8200, that's where we see support and we think bitcoin continues higher from here. >> all right, i think robert comes over why don't you come on over brian will bring the chair in. thank you. >> good to see you. >> welcome >> so you know that i love -- isn't that not enough occurrences to actually draw that conclusion? >> sure, it is a look back at a few sets of -- >> three. >> three fair enough. >> you can say mother's day, memorial day, labor day. >> it is all the information that we have it is like looking at a chart of the dow going back 100 years you trends in the bond market that are -- only three trends. three 35-year trends you have to work with the data you have fair enough, we have three instances, had a bitcoin trade around those data points, it moved higher >> okay. >> robert, when melissa talks about the correlation and

causation, what other things to throw in there besides mother's day can we look at as far as what i'm seeing on that chart. we're talking about a finite, small amount of data points, what is the list of things that we should watch to be bullish for bitcoin. >> fundamentally or technically? >> you look back at the charts you have an incident what else is taking place when the charts are moving up >> there was the big bull market behind it. that's one point i think right here, right now, a lot of people are looking for clarity on projects. we have all this uncertainty we had the big bear market, uncertainty around regulation, a lot of that, some of that should become clear as we move through consensus. but technically i think what really matters, you had this run off the bottom, does it fail here that's a question mark so our opinion, my opinion is it is going to hold around the 50 day. you shake a few people out, some of that momentum has gotten overbought, get down to key levels, it holds fairly close to

where we are now. >> let me ask you, it appears as if the volatility diminished in the last three or four months. what do you make of that >> i think compared to what we saw first quarter? >> compared to what we saw the second half of last year, for example. >> yeah, well, i think the -- i think -- has the volatility -- >> that's what we look -- >> the bear market was pretty volatile. >> really volatile, really bad now seems to have found a level and stayed there you have swings that don't seem to be nearly as big as they used to be. >> my take on that was all this rolling over the market we had, able to short bitcoin, and then we had all the uncertainty around regulation. and you had the tax issues, and all that sort of capitulated into the april low we saw. the recovery has been reasonably orderly. look at either, down to the smaller ones, they're behaving reasonably well. not all of them. some of them are in strong bull

markets like eos i think the risk around what is happening with cryptos has hit a bottom now we're in a stage of general recovery. >> thank you >> timothy jay seymour. >> i like to trade around this jbtc, the bitcoin trust, which trades like a stock. that's why i like to trade around i'm agnostic about whether it trades at a premium. in this case, we talked about this on the show, trades at a premium, i don't care. i bought it this morning i agree with these guys. i think the sentiment now continues to be on the upswing you support at the 50, support at the 100 right here. even if these market breaks down, i do think you got a lot of follow through. >> coming up, as the markets grind up, a number of megacap stocks soaring to win points of their record highs we'll tell you which names the traders think could go higher. chip stock invidia taking a dip in the after hour session. the conference call is it under way. we'll hear from the c suite later on this hour

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welcome back a number of megacap stocks are on the edge of making new highs, breaking it down is a man who lives his life on the edge, dom

chu. >> i'm on the edge of glory, melissa. maybe that's overstating it. the market is trying to get over the hump and get that 5% or so it needs to reclaim its glory of record highs a handful of very large market cap stocks, dare i say megacaps, could help the cause if they get some more upside momentum. you take banking giant jpmorgan chase, worth around $390 billion, it hit a record high at the end of february. it is now just 4% away from reclaiming that all time level now, given oil's big rise over the last year, perhaps no surprise that chevron, 4% itself away from its own record high, still needs around 5% maybe to get back to the record, record levels we saw from summer of 2014 despite a lot of management turmoil and shake-ups at nike, it hasn't seemed to take too much of a toll on the share price. nike has been pretty range bound but still 4% away from reclaiming the own record levels then there is facebook probably one of the biggest falls from grace in a megacap

stock in the wake of that user data scandal it fell over 20% from its record highs to its scandal lows. now, it needs just around 5% to get back all its lost. melissa, if stocks like these can manage to find some upside traction, it could be the fuel needed for that next leg higher. or they could be an outsized drag on the overall market in a potential downswing. back to you. >> thanks, dom. as these stocks inch closer to their recent highs, we thought it would be a perfect time to play -- >> we love to play >> higher or lower >> yes, we're going to take one of those stocks and ask each trader whether they think it is going higher or lower. so we start off with chevron, tim, i put this to you higher or lower. >> great to be here. playing for the -- higher on chevron. >> higher. >> why >> first quarter numbers show this say free cash flow

generative company, running much more efficiently than other peers. that company breaks even to pay that dividend, $49 brent goes higher. >> i do still think, though, it is an oil play i -- where are we to right now, i look at chevron, just unto itself, the rsi relative strength index, it is overbought now. last time it was overbought, a little worse than this level, it caved 20%. that was january, february i would push back on -- >> that's exactly why i like it. you look at the integrators. chevron is one of the safest plays if you're thinking about entering the energy space right now from an investment perspective. that's where the money is, first line money is going to i agree, i think it goes higher, we have seen a bottom in crude i got that dead wrong. i think that we ultimately do grind higher from here. >> next stock up, jpmorgan, higher or lower, karen is the next contestant. >> i was hoping this was match game

higher >> higher. >> it is the premiere play in the banking space. it is not crazy expensive. has had a really big run although, all that having been said, i think citi is more upside, i think they both do i'm infraid of inflation, i want to be in something that i think will do nicely in that scenario. jpmorgan, i they will we'll see some buybacks. i like it. i know it had a nice run i still like it. >> the management team, jamie dimond is one of the most structured and respected ceos. i would back him any day of the week. >> i know this is higher or lower, we're supposed to push back but i think it is higher too of the valuations, i -- >> he doesn't get one. he gets karen's pick >> thank you very much. >> grasso. >> higher? i think higher as well i think you'll see regionals

outperform they're off 9% off up 2%. >> seeburg is up next. seeburg, nike, higher or lower >> i think nike is lower priced to perfection here. >> lower >> i think it is expensive it is trading at 2% free cash flow yield versus 3% to 4% from peers. from a price perspective, i think it is expensive at the levels >> i think it goes higher. >> it is not yours >> higher. >> come on >> i have my own button. >> their global growth, what you're seeing in the future, it is going they're recovering in the basketball -- i think the margin is good. >> you don't worry about the executives leaving, 11 top executives leave and the scandal which is yet defined >> this is not a company that is actually rooted in two or three guys this is a world class brand, i think they stand. >> what do you think about adidas maybe losing momentum.

>> nike hasn't picked up their purse there. they're gaining international. i agree with tim i do think north america, they need to come back, they need to figure out a way to get that momentum back and it will take some time. >> facebook is up next grasso, higher or lower. >> lower this is another one that with an rsi relative strength index -- >> lower. >> very close to overbought. this one signals pretty effectively, and when it is overbought, it comes crashing in, i don't think we're out of the woods yet as far as privacy concerns exist and the next earnings cycle we'll start to see if people left facebook, the last one. >> lower. >> i want to hear that bottom line this is a company that even before the cambridge analytica, by 5% over the two years, massive bull mark net tech this is a name way decent valuation, will go lower. >> our staff is the voice of higher and lower. >> i didn't want --

>> fine job. >> favorite part of the show. >> one stock the options market is expecting to go higher is trip adviser let's get to mike to break it all down. >> trip adviser saw well above average daily options volume, and where most of that activity was concentrated was the june 50 call that included a block of 5,250 calls that traded at $1.50 buyers of those, it will be above 51 by june expiration. i think i should point out, this is a stock with a high short interest when they had earnings come out that weren't as bad as expected, that's one of those things to make it tough for shorts and could be a squeeze here. >> mike, thanks for that mike ko. for more "options action," check out the full show tomorrow. still ahead, you're looking at a live shot of elon musk's falcon 9 spacex rocket, moments away from launching. we'll go there when it happens

speaking of rockets, karen's last pitch took off to the tune of 21% now she's stepping up to the plate, getting ready to pitch the one tech stock she says could be even better she'll reveal the name right tethis 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. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade.

karen is over at the plaza to pitch it. karen? what do you got? >> let me give you a little

history about my fast pitch. xer xerox. xerox is mer xer xerox is merging with fuji films. carl icahn hates this deal they hate this deal. they go to court and go it the shareholders, try to get them to block. lots of ways to win now. we saw interesting, a lot of court stuff happen, the board appeared to be thrown out, now they're back, the old ceo is back here are the ways to win the old board has said we are trying to maximize value we're trying to negotiate a deal with fuji films for better terms. that's one way to win. icahn said they would accept $40 a share, which is what xerox said the first deal was worth. if they get a much higher deal, icahn would sell the third thing that could also be good for the stock is that decent has won the ability to nominate a new slate and co-replace the whole board they thought the auction wasn't

fair, there were other bidders who didn't get a chance to bid let's look where this stock has been over the last year. the stocks right here now, and it is not very far off the bottom so to me, there is a lot of ways to win either this board gets something done or deason takes over, he gets something done. a lot of ways to win i like xerox on long stock and options. a lot of option activity today in the july 28 and 31. >> it is tim hi the question, the reason why the stock sold off they have to go at it alone. are you comfortable xerox does this by themselves, turns it around, whatever we're expecting? >> i don't agree with the premise of the question, they go it alone i think they'll do a deal. the stock at the bottom of the range gives me some comfort, but it is a risk if they're going it alone. arms are getting out, the stock is trading down. people are concerned about their

business. >> is there any risk that the company itself faces lawsuits in terms of how the original deal was handled? >> yes, that's always a possibility. almost every merger i've seen, the board gets sued they didn't get enough money for shareholders generally those are dismissed for a negligible amount of money. >> any other question here on xerox? >> i love the call >> we're going to vote here. kick it off, steve. >> i'll kick it off. i think it is going higher i agree with karen the pressure is on now >> we'll take a pause in the voting we have breaking news as elon musk's spacex is about to launch one of the newest falcon 9 rockets at the kennedy space center morgan brennan has the latest. looks like it is ready for liftoff. >> we are 58 seconds away on the countdown clock. it just paused this is kennedy space center where spacex is getting ready to

launch for first time its next generation falcon 9 rocket this is the last and most powerful version that they plan to make. elon musk saying earlier today, the plan to be able to fly this version ten times without any kind of major refurbishment up to 100 times over the course of the life of each of those roc t rockets, musk saying no later than next year he plans to use one of the falcon 9s to demo two back-to-back orbital launches. take a look. we're about 15 seconds out from the countdown on this. this is a launch that left bangladesh's first satellite into orbit. taking place from kennedy space center we're just waiting seconds away here. >> the clock is at 58, but i think it still says 58 what does that mean? does that mean it is delayed >> it just reset to 15 minutes

out. and what it means is that they're pushing this -- >> the conditions may not be right. >> this could be a weather situation. this can be an air force or kennedy space center call, also a technical thing, want to make sure everything is right success for a rocket launch like this, everything has to be 100% perfect. >> okay. >> so space is hard and that phrase exists for a reason we'll see. >> space is hard that's the quote of the day, morgan, thank you. 15 minutes on the launch >> buy >> all right so buys across the board and forget about that rocket launch, we don't need no rocket launch xerox and the results will be much more exciting are you buying or selling? we'll ask carl carl voted in our twitter poll the results later on in the show plus, it is lifestyles of the rich and famous for real the so-called wealth stocks are soaring.

how high will they go? robert frafnk has a special report next. >> welcome to television's unchallenged authority our phones are more than just phones.

they're pocket-sized personal trainers. last-minute gift finders. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet. which can save you $400 or more a year. it's a new kind of network designed to save you money. click, call or visit a store today. welcome back, if it seems like the rich are getting richer, that's because the rich are getting richer hence the classical music that was intended to denote wealth. in all of that, a boost to a number of stocks wealth reporter robert frank joins us with stock picks for the super rich first, we want to see a rid ridiculously expensive car. >> and as -- this is all i

listen to, crank it up at the gym. rolls-royce unveiling the kulinin. it is the most expensive suv on the market with the starting price of $325,000. but you add in the steering wheel, the leather, all that stuff, close to $400,000 it has that magic carpet ride feel of a rolls, also goes off road because of the bad roads and weather, snow and many other countries it will open up a lot of new markets >> indeed some customers who prefer to drive four by four cars and we will definitely see a complete new breed of customers also entering this into our rolls-royce family. >> rolls-royce owned by bmw. could see production to around 4,000 cars in the next one or two years. and i think next year this will be about half of their total production despite the big price tag. >> are there competitive cars at that price point and format?

>> not at that price point but we have seen lamborghini, we have seen maserati, jaguar, alpha row may alpha romeo. they're sold out for the next two years already. >> this car, the $20,000 deposit, they have hundreds and hundreds of orders even before it was announced >> we want to trade on the super rich stocks. talking about the rich getting richer, these names have been doing quite well ferrari, callaway golf, sothe sotheby sotheby's, you're covering a big auction, the auction business is very good these days. >> it is insane. i just came back from christie's, finishing the rockefeller sale, there are things going for ten times the estimates. next week will be the big pulse of the market, that's the regular nonrockefeller sales so far, these auctions have been incredibly strong.

no end to the number of billion narz thbillio billionaires that want trophies. >> i'm long sotheby's. i'm short ferrari. you shouldn't price this thing as an automaker. it is a luxury manufacturer. but i still think the valuation is absurd even though they -- i've been short the stock, it hasn't been a great short. the valuation is way too high. >> seems like some of the luxury stocks, the likes of lbm, they're doing better, especially in china it is a huge resurgence after the corruption crackdown. >> it never has been stronger and all regions are performing now. >> we get a new found wealth in this country through crypto. there is a lot of wealth that has been created and generated from that, that particular, you know, segment of the market. >> crypto. >> i look at ferrari and say maybe overvalued but they'll go to ferrari before

another product. >> the only thing that would stop it is oversupply. we have seen that real estate section. right now, in the car market, i don't see that i see ferrari adding a waiting list for the newest models >> demand outstripping supply. >> robert frank, our wealth reporter, go play that classical music. xerox is up after karen's pitch. are you at home buying it? vote in our llpo at cnbc fast money on twitter the results after this >> copy that we have got a problem. a few problems actually. we're overproducing, overcrowding, and overheating. we've got aging roadways, aging power grids, ...aging everything. you're kinda bumming me out clive owen. no, wait... it gets worse. we also have the age-old problem of bias in the workplace. really... never heard of it. seriously? it's all over the news. i've heard of it.

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you know what carl icahn and karen have in common they both like xerox and both love toni braxton. "unbreak my heart. america is not buying karen's pitch. >> we love >> time for the final trade. tim? >> so this one i don't think will make you cry. ewz, huge sell-off, big move today, stay in this one. ewz. >> i listen to this all the time now actually, every two weeks or so that's okay. i'm sticking with xerox. i think there say lot of ways to win and hopefully not too many ways to lose. >> seeburg >> i'm with facebook, buy the stock here, 20 times 19 numbers. they're growing earnings next

year 22% that's light i would be a buyer here. >> grasso? >> overstock has been as low as $20, as high as $90, base at 35. overstock, buy. >> i'm melissa lee thank you for watching see you back here at 5:00 for more meantime, "mad money" with jim cramer starts now. 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. i promise to help you find it. "mad money" starts now [ applause ] hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. and i actually have some with me tonight. [ applause ] i'm just trying to make you some money. my job isn't just to entertain but to teach you call me at 1-800-743-cnbc. or tweet m