need to be on offense when it comes to trade deals >> keep us posted and thank you for joining us to talk about. >> it thank you very much. appreciate it. >> that's ken maschhoff. they hit the price of bacon in this country, all hell will break loose. >> maybe there will be excess domestic supply and price cuts. that does it for "closing bell" everybody. thanks for join us, "fast money" starts right now. >> "fast money" starts live from the nasdaq market site i'm melissa lee. tonight on "fast," move over de niro, there's a new raging bull. tony dwyer showing his horns 16% higher in the next six months he will be here to tell us what has him pounding the table plus pot stocks heating up as canada gets one step closer to

legalized recreational marijuana and tim seymour has one name to first, we start off with big tech rally queue the 1999 music, because the tech sector is closing at another record high today. e everyone has been watching meg cap bank stocks, quietly a number of speculative web 2.0 stocks have been on a tear check out etsy, grub hub, angies and zillow surgingting multiyear highs so let's get deep here. what does the rally in these kinds of stocks say about the broader tech >> what it says to m the complacency in the market is back to where we were. everybody thinks the fed has our back and they may be right the market has basically staved off the lows on three different times, tony dwyer will speak to it but what it says the vix is below 12.5 people are looking at valuation

and they don't care. angie's list 54 times so valuations don't matter. their stocks that have performed extraordinarily well over the last couple weeks when it's be clear the market pushed back those lows and it speaks to me of renewed complacenccomplacenc. >> you go out further and further on the risspectrum lookin a market where it's increasingly icult to find the extra return because fang stocks are the market right now. >> if i chart amazon and i chart grub hub, it's the same chart so if those large cap tech stocks sell off they're going to sell off more as well so here's the point, bottom line is pandora is up 60% do we thinpandora's business model is solid i think there's reinforcement for dash for trash, dump

diving, i think that's been working in the retail sector and technology and i think there's a lot of managers back to what you are saying who are underperforming and gives them something extra, to me, to buy names likeetsy and zillow, i don't get. what is attractive to me is the vix coming in so much. able ifs haven't participated. i won't sell those, i will buy puts with the vix at this level we've seen how the markets could turn on a dime. >> doesn't it make you think the large cap tech last week was ht defensive and for growth ever if large cap tech has another couple innings left --

>> that doesn't mean -- itch a large position with facebook, i'd much rather be in that i believe they have less down si si side there's a scarcity value in social media names and on line there's not a lot of market cap in everything below the top five stocks, carter points out it's those five stocks and the next 200 are in here. in some cases you're north of 20%. i don't want to equate these names with what i think is high quality growth these are defense i names for a reason they won't necessarily go higher one for one. >> these other names meaning the zillows -- >> yeah, absolutely not. >> i know that you read the "wall street journal" religiously. >> religiously it's on my front stoop, the little paper boy throws it

his bike. >> of course you're reading the paper edition. >> next ilk. >> there was aout hoperception of value and growth converge in this market where they can both be in that fang space there's a great overlap because that is it you're looking to perform with the market and you have to be in the fang stocks so this gets to this notion. if you're looking to outperform the market, where do you go? >> tony will say we have another rally left in store. so if the s&p gets to where tony thinks it will go, the four names we mentioned, the etsies and zillows and angie's list, they can rally it will happen again my fear is that, again, karen mentioned the vix, i'll say it again. vix closes 12.5, speaks to complacency we saw years ago maybe justified.

president trump pulls a rabbit out of his hat with north korea, the market has 100 s&p handles to the upside so there are catalysts out there. it scares me a bit. >> this market has been ht back off of every catalyst to the down side you would have thought would have killed the market if the market continues to griengrin higher, these names will outperform and i believe it's a 2-to-1 versus the large cap megatech names. >> think of airlines, autos, very inexpensive stocks that should be tethered to an economy -- i think we have a nice upswing over the last week or so. these are the names you need to perform. i think you need banks otherwise we get into the place where we were in the end of 2015 where you had this very narrow rally -- >> why haven't they performed, though why haven't the banks you would have thought this was a perfect scenario for the banks to perform and they haven't. >> because i think people -- investors need to see it's not just the yeeltd curve, they need to get the sense we're not in

the ninth inning of a late-cycle rally that's been sugar highed by aax cut i think if you get the sense we're going to grow 4% in the second quarter and maybe 3.5% for the rest of the year, that's an environment that will have those fangs rally. >> why do you think fangs haven't participated >> i think it can change so quickly. two weeks ago the fang stocks were out of favor, maybe it war market going higher people say where is value and i think value is in a j.p. morgan, bank of america, citibank. >> well, one wall street bull is showing his horns today. canaccord genuity raising their price point to $3,200, that's the highest target on the street let's welcome the aforementioned bull, tony dwyer, chief market strategist at canaccord.

we want to go through the reasons why you're doing this. you point to a strong economy. what is driving things here. >> i waited until this time of the year to raise my target. i had an idea that i was too conservative and i wanted to see if there was a euphoric fade of economic activity after you got the tax cut but that hasn't been the case the atlanta fed gdp now which measures expectations for second-quarter gdp is almost 5%. 4.8% you have small business confidence is at a historic high, consumer confidence is at a historic high still and ceo confidence is near a historic h that the economy is doing better than people arving it credit for. >> does it matter that european numbers have been coming in and slowing throughout this year basically?

>>. >> it's almost like i planted that question. six months ago when we were fading europe because the citigroup economic surprise in europe peaked and was collapsing from plus 93 minus 90, it's now the top testrialized economies that inzex the lowest level since february, 2016, when the world was collapsing and the data is still positive it shows you how euphoric you were earlier in the ye when we were called for a correction it was when you had this global synchronized recovery that was the fade time on europe in the global economy.the fade have the citigroup global citigroup economic surprise indices at the lowest level since a whole global collapse in february of '16. >> earnings upside what's your outlook here >> what is -- can you address the gorilla in the room? the elephant in the room. >> matador in the room bull. >> it's the matador in the room. >> oh, i see. >> they should outlaw

bullfighting, by the way, terrible sport. >> earnings were up 26%. i was frankly too low at $155 a share. to tim and karen'somment, it was upside surprise,here also consumer discretionary and information technology, four sectors that have dead really well year to date. so the earnings are blowing away expectations, that's your catalyst maybe it's slow and not exciting as the matador suggests, disturbing, but at the end of the day earnings will be terrific my number for next year assumes 5% growth. that's nominal growth. if anything i'm conservative

with higher numbers. >> let's go back to the matador. >> giddy-up. >> market got its mojo back says tony what do you mean >> again, in mid-january when we have been talking about a correction on the set it was because only 12% of newsletter writers were bearish listen, i'm born everything's good, don't worry about a thing, that se newsletters. the world is going to end, you better subscribe to my newsletter today is what sells newsletters. to have only 12% surveyed is basically giving up on their business model it was the lowest level since 1986 and you've corrected when it happened before we gott correction not only did we get it, we have to retest that low to guy's comment about the three retest that has lowered sentiment you had at the peak in january 66% of newsletter writers were bullish, now we're down to 50%. >> tony, good to see you. >> great to be here. >> tony dwyer, canafford.

>> you ever dressed up like a matador? >> of course, every weekend. >> just keep it at home. >> 3200, what do you think >> he's been right before. >> it's like you don't with him. >> i agree wite picks because if you believe 3200 have to believe tech is going to run wild here so i believe that tech will run wild. >> that's the three sectors -- sorry to jump in. >> he brought himself back in. >> we talked about xlf versus regionals. i would stay with that one, i would stay in the xlk but i would walk away from industrials that are flat on the year. >> what did we do today, tim >> i've been nibbling around in reflation trades i think continue to work i think commodities are coming

back copper had four month highs so some of these trades continue to work i agree with everything tony said other than the fact that i'm not sure we have to trade at yesterday's multiple tomorrow. i think you'll see multiple cop traction even though the world is a good place. >> karen >> didn't do a lot oking to put, i will buy more puts tomorrow. >> may i quickly pay the role of the piccador who is the person that jabs the bill -- >> i didn't know that. how do you know that >> i'm offended by it and for our friends watching in barcelona, i think you should apologize. but you asked karen a question, why do you think the banks are underperforming? what comes to mind to me is maybe they are pricing in now potential systemic risk with the aforementioned over the last nine to 12 months, deutsche bank which continues to trade abysmally. coming up, the retail rally raging on today. one top technician says it's gotten so hot you cannot even short it he'll give us three names to

buy. plus, apple hitting an all-time high, inching closer to that trillion dollar market milp. how appl history suggests a lot we'll tell you what we mean. later, elon musk to take the stage at the annual shareholder meeting in less than 20 minutes. we'll bring you the latesthead market site in new york city's times square much more fast still ahead 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, scisso 1, 2, 3, go. e*trade. the original place to invest online.

no one thought much of itm at all.l people said it just made a mess until exxonmobil scientists put it to the test. they thought someday it could become fuel and wer our cars wouldn't that be cool? and that's why exxonmobil scientists think it's not small at all. energy lives here.

>> whether i leave starbucks or not, i will always bl in at starbucks. but this has been planned for over a year and my confidence and faith in kevin and the leadership team, the long term opportunity for starbucks, the company is in a great position and it's always been a team sport, it's the right time to leave and every other opportunities and other things i want to do. >> that was howard schultz along with andrew ross sorkin on "squawk box" today commentin imminent departure from starbucks. he's set to step down as the company's executive chairman effective june 26 but as optimistic as he is about starbucks' future, schultz is leaving the company at a time when the cafe empire is slowing growth worldwide and the controversial decision to open their restrooms to everybody shares of starbucks have stalled and are down 3% this year.

>> stalled nice. >> is schultz leaving the company at the right time. you look at the decline down 2.5% you look at what the stock has done in the past two years, basically nothing and slowing north american sales. >> this is a company that i think is a victim of its own success. first of all, there' enormous c landscape that i think is chasing starbucks. i think these guys continue to grow in different consumer channels they've looked at their consumer products business that i think will be acretive to eps. the fact that the stock has do nothing doesn't mean the company is in bad straits and i think they've extended their brand and grown around the world they'll continue to grow in china. the margins in the u.s.are difficult, there's no question about that but when i look at this brand and their opportunity and their footprint kerve johnsjoh -- kevin johnson is the ceo, i don't think howard schultz outside of the vision is the guy that has been running the show day to day anyway.

>> i get your point but the context of the stock's move or lack of movement is that we're in a market that is -- the nasdaq closed at a record high we're at record highs effectively on the markets and starbucks hasn't been able to trade along with it. >> but look at what mcdonald's did for years, look at what coca-cola has done it's not a tech stock. >> but coffee has been underperforming so dunkin' donuts has not performed year to date as well so i think it's the rotation out of this space but i do believe he's been the spearhead, he's been the tip of the spear for this company and without him i thk it outperforms more so than dunkin' donuts. >> i don't agree i thinn telegraphed a while. talk about the stock having underperformed since he's been in this role, the chairman's role so him leaving the chairman's role to me doesn't signal a big move. >> i think that point is what i was making is that it has people saw him as not the leader

he was so it's been underperforming. >> i think that what's happened with the companies growth, what's happening with the underlying business is what the story is from the stock, not howard schultz i understand his importance to the dna of this company but if you think about the reaction of rock star ceos stepping down this is a pretty muted response. >> this isn't one of these guys -- this is not -- >> it's noke if musk stepped down. >> that would be cataclysmic. >> so maybe people took a critical look at starbucks in the wake oe headlines and i will say that's what makes -- i think starbucks given the last year of earnings is expensive at 21, 22 times hard earnings with decreasing margins and maybe it made people focus more on valuation. i'm in karen's camp. this was announced effectively december of 2016 and the stock traded higher up to 64 into his

departure in the spring of '17 so if you didn't see this coming you weren't paying attention i think people are saying maybe valuation wise it doesn't make sense. >> still ahead, apple, to infinity and zblobeyond if history is any indication, that's going to be the case. in the meantime, here's what sells coming up on "fast." macy's. an find me any day at >> what is macy 's >> announcer: it's a surging retailer up from its one-year lows but if you missed the move, a top technician says there are three other retailerout to make a similar run and speaking of hot, pot stocks thmeon fire and there's one na at sr. a smoking name right now. that name when "fast money" returns.

this is a tomato you can track om farm, to pot, to jar, to table. and serve with confidence that it's safe. this is a diamond you can rom mine to finger, and trust it never fell into the wrong hands. ♪ ♪ this is a shipment transferred two hundred times, transparently tracked from port to port. this is the ibm blockchain, built for smarter business. built to run on the ibm cloud.

welcome back to be "fast money," retailve been the on a tear, the retail atf xrt jumping nearly 8% the past month alone. let's get to bob at the new york stock exchange hi, bob. >> hello, meliss r on a pair at the moment thspider s&p 500 etf is up, on pace for its third positive session in a row retailers along with tech lead the new high list with macy's, cole's, ralph lauren it's up 7% since early may so what's going on we've got positive commentary on the earnings front, traffic picked up considerably once the weather improved we heard this from dollar tree,

we heard in from american eagle, we heard it from gap, williams-sonoma, target, kohl's, tjt should transte int meanin top-line growth there was talk of less promotional activity so it was great earnings the short interest, we'll get new numbers for the past weeks very shortly but it's likely short interest has declined on the better commentary. the way to look at this is by the days to cover. how many days of normal trading would it take to cover the shares sold short in a particular company four or five days is typical for many companies in the s&p 500. some like nordstrom and target still have high days to cover indicating some shortage still out there but they're lower than they were earlier in the year. others like macy's had low short interest right now tiffany's is very low as well. that's risen recently. separately, worth mentioning is one notable name and that's walmart. it's been left out of the rally

completely stocks down 4% since may and almost 1% for the year so here's the bottom line. the pressure from amazon is still there, but for the first time in a while a rising tide is lifting all boats. back to you, melissa. >> thank you very much, bob m s pisani. >> tim, what do you think about macy 's? >> i think you get neutral on macy's even though i was encouraged yesterdays when we played whatever that game was. but the couple things people are getting behind, their e-commerce business, they're going to grow in the high teens, they have no place for a fourth quarter 2017 comp, we're positive for the first time in 11 quarters. the last time this happened was 2010 i think 41 bucks is in the price. >> karen, where do you see the announcement bob mentioned >> well, yesterday we talked

about shop it or drop it i find the department store run this last week just kind of euphoric and i agree with tim on macy's having run so far so fast, the valuation was cheap if you thought they would find a way out which tim did and they add out of their debt and they were able to -- it never became an issue but that was one of the things weighing on the stock and that attracted the shortages but they're not crazy expensive but some of those threats -- i wouldn't be chasing kohl's here, i said that yesterday. >> our next guest says the retail run is so hot you can't short it he's got three names to buy. let's go off the charts with chris veron of strategic research partners. >> don't fear strength here. we know this has been a good group over the last number of weeks but when you look internally it says there's more

to go. what we're showing you is the retail index, the number of stocks making a 65 day high continues to expand. those are bullish internals as the index breaks out of this base and when you look at individual names you have to start with the bellwethers this is nike it's largely been in 70 on the high side 50, on the low side range $47 todayd out of this se, under armour, same story this was a devastating bear market down 80%, 60 down to 10. we think it's bottomed in a meaningful way 32 analysts watched the stocks only six guys. that's a mistakeyou look at ws t before, another name starting to break out of the base, short interest here is still really high so it's hard to say that this move is over yet. own some of these names, don't

fear strength. >> should we invite chris over to the desk? >> have to. >> how can you invite him to the desk when you don't invite - >> brian will bring the chair. >> of course you should. >> no rubber stamp here. >> you have to earn the spot at the desk. >> in markets where momentum, you want to own leadership i don't think you have big down side here but is it the leader in this p? i'd rather own nike or under armour so this is a market that has momentum and you own leadership. >> when i look at the charts you mapped out for us, nike, williams-sonoma, under armour, all of them are overbought or close to it. >> that's bullish. >> what would be educational for

everyone watching is how you can unwind that relative strengthor bought status in the stock. >> overbought is the most bullish thing in this business it's mistaken as a bearish indicator. when there's momentum you want to embracet. i don't think we want to fear strength here. when you get stocks overht, their forward returns are stronger than average over the next three, six, and 12 months so embrace this move in those overbought names. >> i would agree williams-sonoma, look at that quarter, pretty ridiculously strong quarter margins hung in there, big eps beat, huge short interest and you start getting the people to chase so whether it's overbought or not doesn't matter. the fact that it's breaking to the upside and the same way analysts are chasing macy's, j.p. morgan raised their numbers and ever corps just went from a short to a buy so you're getting people tripping over themselves. >> here's what's happening this.

they're slacking the historical multiple on these stocks and that allows you to bring them up after a big rally. is that happening in discretion? >> what's interesting about these earnings numbers, they haven't been that exceptional. but the fact that they hav stopg doif you thi about the last couple years, if hammered they don'tave like that anymore so let's respect the character of these stocks. >> i have to understand something about this overbought because it's the most important thing. so where is one in the overbought -- what inning of overbought are you sand there a number of overbought you look for? is theren absolute level >> wink about in t con of the trend empirically when a stock is overbought the forward returns only suffer when it's there are a down trend so if these names were broken and rallying into resistance or rallying into 200-day averages, that would be the bearish signal when you here in an up trend and

overbought your forward returns are well above average over the next three, six, and 12 months don't fear strength, embrace these things. >> chris veron, quickly, would you shop it or drop it i'll let you pick any of three names. >> under a mormour has underperformed for such a long time even with that momentum status, that's a name i'd rather buy than nike. >> still ahead, we'll hear fro the always colorful elon musk. plus, pot stocks heating up as our neighbors to the north get one step closer to legalizing recreational use and our resident pot expert -- read that.t head but i wouldn't much more "fast" right after this. pot stocks on fire on

back of upcoming developments in the space. here are the details from san francisco. stocks might be heating up as canada appears to be on the brink of legalizing marijuana. a vote is scheduled for thursday which would pave the way for legal sales by the end of the

summer this as industry watchers are weighing in. deloitte canada seemed to indicate legalization is a matter of time the firm tweeting the world is watching as canada steps into the spotlight as the first 2g7 country to legalize recreational cannabis nationwide. overall consumption will increase 35% once reunited nationsal marijuana is legalized. the firm estimates legal sales will make up more than half that total, but says the illegal market could be still worth more than $1 million. the developments this week have lit up several pot stocks, they include aurora which is up 7% over the week. canopy growth 8% more than a week

c or cronos group up 15%. i also talked with aurora ceo who said with legalization "we think for the next 18 month what is we produce is already spoken for. he says they've been ramping up for the past two photograph years and they have several provinces in canada signing up r w them. >> aditi roy from san francisco. if you're looking to get into the pot stock trade, tim has advice head over to the plaza to break it down. >> trying to give you a basket on how to trade this very exciting space wch is combination of the recreational trade and the biopharma trade. this is maybe 25% of your basket right now. bruce linton from canopy is sending a lot of time in germany and latin america where, in fact, they're using the dian model to grow and the other part that i think people e looking

for, tipally in some emerging markets, and i don't mean necessarily the ones i've followed but you don't neceily want to sell gold, you want to sell the picks and shovels to the gold miners and that's how people are looking to get exposure which is the state place and we have a couple good ide ideas. i think this is -- call this boyne bitcoin to the crypto world. it's listed on new yor can follow the way the stock is rerated and has been a conduit for the whole sector but you can see in just one year we have this blowoff who is sito what was going on in the crypto space we've had this consolidation phase and we're taking higher on a couple different things. for canopy it's because this stock is listed on the new york stock exchange face it, it's a proxy plate. people can buy it here and even though they're a canadian produce yir, they're using that currency the canadian guys will be using

probably expensive stocks to use that to be buying through their shares and doing an mna in the united states and other parts of the world. nopy is well company not a bad place to get involved. i'm not sure if we have the underlying tickers here. we don't so if i was going to put a basket together, i would be 25% in biopharma, maybe that's gw pharma that trades in new york i'd 50% in the big guys like canopy and then get into the bottling names and what not. >> in that clip they were talking about production being sold out i'm curious, how long does it take to produce a crop i'm just asking for a friend. >> if you think about the cycle for these guys is anywhere from three to six months the. production part of this, even though it seems obvious and obviously there are people that have been growing cannabis for years and there's an amateur market and bottom line is this is one of the hardest things to grow between mites and diseases, a lot of big producers and the guys up and coming have had big

issues with getting production abuse linton talked about whether they would meet the demand in canada and people think they won't. >> so tim when you look at this as far as the united states a canada, where are the international ideas? is this a global play? is this really on the ground up? >> it's difficult to quantify what this market will be globally the numbers are anywhere from $200 billionoll $300 billion that's where you consider the recreational markets, the medical markets and some level of the wellness around that. when you get into the biopharma side of it think about the over-the-counter market and where 80% of people are spending their money in pain relief and sleep aids. that's a massive market. that's why the biopharma wellness side is the most exciting. >> thanks for that, tim. >> thank you. >> our resident pot expert still ahead, elon musk about

to take the stage at the tesla shareholder meett now. we'll bring you the headlines you need to know. plus, a question on every trader's mind. how big can apple get? we went back to the early 0s'8 to get clu on that after the brk ook a whole lot more. that's why i switcd he spark d from capital one. with it, i earn unlimited 2% cash back on everything i buy. everything. what's in your wallet?

as apple hits highs and is inches away from a trillion dollar market cap, the question is just how big can it get for more, let's get to the man who's already larger than life, dom chu back in the newsroom. >> well, not even at the same ballpark, melissa, thank you apple just a mere $50 billion away from the psychological $1 trillion level some are arguing apple could have more runway not as much about the fundamental business about the overall waiting in the s&p 500 acco apple is around a 4% weighting but it's nothe biggest weighting we've seen for a stock in modern history in data going

back to 1980 it was big blue that had the most heft at any one point in the s&p in 12, ieb ye-- ibm translated into a 6% weighting. as of may, jt shy of $23.5 trillion in a vacuum environment with all other variables held constant. a 6% weighted stock would be worth nearly $1.4 trillion it's a totally imperfect comparison to make and market dynamics aren't that simple but it's one of the justification for the apple bulls. as for the bear cases, we know it's a big company, growth will be harder to find in size and scale and melissa, those companies that have reached those market cap pinnacles in the past have ended up surrendering that thrown to others as time has gone by, think ibm, at&t, ge, exxonmobil, microsoft, et cetera back to you. >> thank you very much, dom chu.

back in the day when those companies dom listed were the dominant companies, nobody thought, oh, they'll be by the wayside so what will separate apple from becoming those companies. >> the hope is what will separate them and it's time they transition from a hardware company to a software services company. that gives people a stick your ntele. talk about sony the same way. >> reservations about them becoming the service in order to get the valuation they covet the revenues of service have to be north of 25%. >> what's interesting about apple is we're no longer talking about these refresh and the volatilityt comes with them think about fading one of those leadups to that, it's becoming

lower amplitude. they basically said you're looking at apple, that means it's a lesich gets it to the higher multiple i'm still along the stock. this was a couple months ago we were still looking at those -- everyone was saying that no one is upgrading the iphone so i still think we're caught in that prism but even is so myopic on that we'll take it out and everyone will worry about the trillion and a half so i believe apple is still a buy i believe that's the roger banister. >> four minute mile. >> no one thought you could do it that's a great reference. >> i thought that was the guy that played hulk. >> you would have been wrong so i think we'll see a couple others as well apple is the most likely

candidate if for no other reason than it's statistically by a lot. options traders are betting apple's shining rally is far from over. for more let's get to mike coe in san francisco. >> whoa, wait, wait. can he stop for a second does he hear me? >> yeah, he hears you. you are on tv. >> what is going on with mike -- >> what is with that vest? >> he's like tim seymour. >> tim sports the best, steve sports a vest, i'm just trying to blend in. >> >> you look fantastic. >> the apple options have continued. we saw more than two times the put volume in calls today. most activity is concentrating on the 195 strike. 1860 of those trading for $6.10

apiece that's a big premium outlay so that will be above gust one thing i would point out, last friday 195 was the call strike dan nathan was choosing on options action so maybe >> mike, thank youto him ait. obesitying it up in san francisco. for more options action check out the full show friday 5:00 p.m. eastern time. coming up, jim cramer sits 's a peek.the new aloe altceo. >> i look at the cloud revolution, it's very early on the enterprise space. >> find out how big that business can become at the top of ther on "ma plus, tesla holding its annual shareholder mng we are monitoring that and we'll bring you the latest in just a moment stay tuned oh, and there's the closing bell. (sighs) i hate missing out missing out after hours.

not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie?let'. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪ yourbut as you get older,thing. it naturally begins to change, causing a lack of sharpness, or eve recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish in clinical trials, prevagen has been shown to improve short-term memory. prevagen. the name to remember mom anit's not theirs.car...

it's mine. mine. mine. rows for seven pas and it always will be, forever and forever. the e exence amazing aler.

tesla's annual meeting is under way elon musk has taken the stage. cnbc's phil lebeauring the web cast. >> elon has been talking for

about five minutes and he was talking about how proud he is of the team h weleye doing. what you're looking at is the web cast of the annual meeting going on right now in free month, california. one piece of news, e just said their production system is showing the capability of building 500 cars per day, 3500 cars per week and they are spooling up production i know people will pick at this and say does that mean they're building 3500 cars a week right now or just that the production system that has capability to do that that ice a little unclear. that's the only piece of news that's come out especially when we look at everybody wants to know what's going on with model three production remember, they have said that by early in the third quarter they expect to be at 5,000 vehicles, 5,000 model 3s per week so we'll go back and listen and see if they have more clarity. >> do you have any timing on what the actual vote will be on the three directors and the

motion to separate or to pull elon musk from being chairman? >> io not. i dowas geinto a chair and i heard applause there i believe the three directors were reelected by the way, there is no expectation that they were not going to be ecreted or that elon musk is going to ve his job separated. almo everybody given elon musk's voting, 22%, the permajority of the board it is unlikely any of those proposals to split the board will go through. >> does musk get any sort of tough questions at the shareholder meetings or is it like a fan convention? >> more of a fan convention. easily more of a fan convention. there are few tough questions. you'll have somebody step up and say i think we would be better if you split the jobs of chairman and ceo the fact is, they've always pretty much -- this has been his company, you know that, melissa,

as a result most of the people who show up there, they believe in musk's vision and they are eager to hear more from him. >> phil, i know you'll monitor this phil lebeau on the tesla shareholder meeting.in the aftek is up by 1.5% so obviously this is something that people are watching, guy? >> not for the faint of heart, i'm not trying to pretend i'm right or wrong, but it's fended off 280 a couple times, traded low in the aftermarket with some tive article i came across now it's back to levels we close out yesterday. i think we can own this stock against 280 and ink the bears have tried everything somewhat unsuccessfully, not unlike the s&p which leads me to believe we have upside. >> that's where i added stock, around 280 i'm still long on the name i believe you're hearing him in the background, he's very calm and the stock got beaten up when he nasty to an analyst to the tune of $20 or $25 i thought that was aggressive to the down side, that's why i

bought it off the dip. i still believe you're going to see a pop above 300. >> from all the people say they're going to sele stock will love it forevere hes under the triple q for tesla, isn't this the tech stock? why is it down 40% against this triple qs in one year? you can't tell me this has been a great place to be invested if this is a tech stock and not an auto company which my understanding is what it is. >> all rhtig next, we have the final trades stay tuned

your an amazing machine. especially when inside another amazing machine. the lexus es. with standard technology like lexus safety system plus. the lexus es, d. experience amazing at your lexus dealer. hi, kids! i'm carl and i'm a broker.

ou offer $4.95 online equity trades? great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? k ur broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab. if you don't like their answer, just another day on the farm. or is it? this farmer's morning starts in outer space. where satellites feed infrared images of his land into a system built with ai. he uses watson to analyze his data with millions of weather forecasts from the cloud, and iot sensors down here, for precise monitoring of irrigation. it's a smart way to help increase yields, all before the rest of us get out of bed.

>> let's go aroundthe horn, ti seymour? >> look at the seconder, gw pharma, i think it's still worth owning >> karen >> yes, allergan has been under pressure for a long time but with appaloosa i think something interesting could happen. >> ib, position in the stock forever. now i think it's a buy against a 139 level of support ibm buy. >> can we just play that -- >> there we go. >> too bad you didn't have your costume on you. >> hold on, i can go ahead -- no >> final trade, please

>> i keep in the the back room i thought the selloff in applied materials is overd i think ahmet mat is going to keep up to the rest of the tech my mission is simple, to make you money i'm here to level the playing e'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. even the best leader isn't enough to get this market roaring. if no one else is willin