>> maybe he should buy beats from apple you thought it was a great deal. other names that the millers mentioned they like are moving higher after hours 82 is up nearly 4% at one point. 3% now thank you. happy father's day to you! that does it for "the closing bell" "fast money" begins now. "fast money" starts now. i'm melissa lee. your traders on the desk -- tonight it was a crazy week for kr crypto and our crypto said something just happened that could send one coin to the moon plus, don't look now but shares of snaps are soaring. we'll tell you how to cash in. first, we start off with a trade war turmoil. stocks sinking more than 250 points the white house officially slaps tariffs on china and the country retaliates by the end of the session, stocks erased most of the losses we've seen this movie

before all though we've never seen it with the culture club. ♪ >> check this out. each time we sold off it was a buying opportunity most importantly, the sell-offs have become less severe each time we see the trade war dips. do you buy them? >> you don't bickellture club. ♪ >> they come in my cd of the month club. >> the headlines are ugly. the reality of what is going to happen i believe there's a negotiation phase. if you look at the vix, if you look at the dollar, if you look at the s&p and where we close the day, i don't think the trade war is a run for the hills i think we had a week of more important events i mean the fed i mean the boj i heard the fed chair basically tell us he thinks the economy is in great stakes. that would be very much at risk for people that are running for the hills. so it's been an opportunity to buy every time we've had a trade

war segment. i think you have an opportunity, though, to be trading a range or near the top of a range. i'm not freaking out but the s&p doesn't need to go higher in the next week. >> we've seen that they walk it back a bit there's a big escalation and big announcements. sunday morning at 7:03 donald trump tweets something that maybe we're back in negotiations with them. i think the market is becoming conditioned to that. it doesn't remove the fact we could have an escalation by miscalculation we go too far on the negotiating table. but for now, until proven otherwise, you have to assume that the initial foray, the initial shot here is always walked back. >> get a little bit real july 6th is the actual date tariffs will be imposed on the chinese goods. all of a sudden we have a firm date when they'll go into affect and so maybe can we get something done in two weeks? >> we've seen him do these things repeatedly it's in the 11th hour he does kind of switch

gears and change direction but i think this one is sort of similar to what the guys are saying thing is a negotiation to help his north korea negotiations i think he's leaning on china again. he got them to the table he leaned on china to get north korea to the table now i think he's doing it so they abide by whatever the quote, unquote, agreement will be or perspective agreement could be so i think this is all art of the deal stuff. >> i totally agree the fact we're at the top of the range, if you will, and the market holding in. the way it's holding in with the headline risk i think it's a positive sign. a positive sign from the stand point i believe when we get more resolve and we'll get it over the next week or so, i think the market will create new highs i think we ramp up i think it's a buying opportunity. >> i'll say something to moderate all this bullish tone it seems to me like the nationalists within the trump administration now, you know, where there's peter navarro, you name it, the guys believe we should be an equal manufacturing

kind of employment run we should have equal manufacturing jobs in this country, which i think is preposterous, by the way they deal with the north korea trip, there was chest bumping. we went into china's backyard and created headlines with north korea. that's not going to make china feel great i think the reality the tone isn't going to get a lot better in the short term. >> that tone is the only thing that helps, though i think he ratchets it up to such a degree that it gets them to come to the table we saw china come to the table with $70 billion worth of ag, on energy so the problem is, they reward the rhetoric. >> but they came to the table today by throwing, you know, extreme tariffs across. >> and pulled back the $70 billion additional goods they were going to buy. they took it back. >> it goes back and forth, you could say, you know, they're both in negotiations this has been going on since

march. everything has ever sold off has been a buying opportunity. >> you sound bullish. >> i am. >> what are you buying then? >> i stayed long and everything was tech home builders. but stay long russell. >> i think in general you stick with the momentum stories. you stick with the earnings stories. the stories where you see consistent earnings boost or earnings growth. you look at the stories that basically give you some opportunity for earnings growth. netflix i stick with that. facebook you'll see numbers continue to ratchet up and i think boeing is a buy and weakness any type that dips. >> boeing had been down by 2% and managed to pair the losses tremendously by a point and a half on percentage basis. >> we saw the whole market turn, too, on that boeing could be the leading edge here and the place that will be most sensitive to this boeing also has operations in the middle east that we have to worry about. so this probably is the ground

zero stock and something to watch. i guess i agree with the guys. if you want to say, all right, i'm concerned about the trade war. stick with small and mid cap that type of thing. >> the stuff that i think actually should be doing very well here, and i've been reflagsist over the last 28 months commodities got destroyed today. china is the biggest net importer whether it's copper or a number of industrial metals. look at what happened to steel companies. steel companies around the world got taken out. steel companies don't like trade wars despite the fact it should be supporting steel prices which are record highs i don't think -- i've watched it happen before. i don't know i want to buy the weakness i think you need to see some of it play out. it doesn't mean it changes my fundamental view i look at what we digested this week, i don't see why markets need to take the next level higher 27.90 s&p top. trade war fears resurface

there's one of group stocks being battered hi, carter. >> industrials, as a group have been a poor performer for the last 18 months there was a lot of excitement associated with the election and since then it's been downhill. what i've got here, of course, is, obviously, xli the etf that covers all s&p 500 industrials. you have ge, caterpillar, boeing, truckers and rails and so forth what we know in the five-year chart it's been a steady uptrend. but here is the thing i would point out, if i were to draw a line essentially right there from election day, right what we've is after that initial spurt, as the sector has gone up, again, underperformance is what it's about. we're under performing the market and not only absolute terms but adjusted for bedrata risks quite troublesome. here we go let me put it in this context. there's the day.

we have now, as of this week, retraced all the gains look at the date that's election day '16. all of the gains since then have been given back. relative gains to the market so the story line of facts, cuts, and synchronized growth none is coming to pass at least as it relates to industrials as an investment now the high fliers, boeing, it's been killing the industrials. i think one can assume that since trendwork is an important process of all these, are we going to get back to trend i would say so boeing and how about cat i'm not manipulating the lines the lines are what they are. to the penny, to the penny, and we're never going to revisit again. it has the look and feel of a down formation i think both of these high fliers are lower they didn't act well today and the space itself is not the dream that it is reported to be. >> come on over, carter.

i'm not going to ask the desk. >> you never do. >> thank you. >> not really. >> we're all voting no. >> i have a question, though, on that last chart you had for caterpillar. you get up there and draw a wedge and say that's a time when there has to be a decision made and it could go up or down. >> that's right. and i could have done that that's the interpretation part it's a wedge the recent action. the implications you'll break down through the bottom of the wedge. and remember this is one of the most loved stocks in the market. drawing a lot of capital both constitutional money and retail money and the question is what is incremental there. >> you like to bold calls and more than than not you're right. the s&p range bound for some time i had thought we were going to go back and test that 200-day moving average one last time to give the bulls some conviction

every time we try to break down 27.40 in the cash it seems like real support to me do we trade to 2900 and take out old highs? >> yeah, i think the highs and the lows were set. so you have a two-week plunge. 12% by friday. 26 in january. a plunge, february 9th we've been stuck in there. it's in the dead middle. there are a lot of parts that are industrial financials that are not working. so we're getting a lot of action retail is coming off the lows and crowding more and more crowding in the popular. >> what does that divergence mean for the market. the next three, six, nine months or something like that you see some of the things lag but then a new high. >> sure. in order for the market to really make stable new highs, you have to have key areas of the market that are 10% plus industrials, health care, financials those three. come to life in a big way. and as of now, they're laggards.

we won't count on materials 3% and rates 3% and tech can't do it forever and at some point it's too crowded. >> all right carter, thank you. carter braxton the chart master will be back in a bit. coming up, a crazy week for the two major crypto currencies. our crypto baller said the nightmare is over for one coin plus, your burning bitcoin questions on twitter tweet us try to keep it clean, by the way. social anxiety no more snap soaring this week one trader thinks there's more room to run for the social mover. we're live from times square in new york city! more "fast money" after this let's begin.

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three main stories two negative for cryptos one of them positive now on the negative side, sunday we got news that coin rail a major south korean crypto exchange had been hacked bad for confidence bitcoin down almost 10% on monday compared to friday. another negative came on wednesday when a paper from the university of texas claimed that manipulation may have accounted for at least half of bitcoin's price rise in the last year. professor john griffin noted that the flow in and out of one of the largest exchanges showed suspicious patterns and concluded there was substantial reason to believe that the price manipulation may be behind some of the affects in crypto currencies the sole positive news came yesterday. fcc said bitcoin and ether were not securities thus would not come under the regulatory control of the fcc. good news. icos or initial coin offerings

would likely be classified as securities though there would be some exceptions there were clarifications here bitcoin rose 5% on that news the bad overweighed the good overall. another decline for bitcoin on the week it's approaching the lows for the year when it briefly bl-- dropped below 6,000 in early february. >> thank you so what are the next catalysts for crypto our crypto baller is at the plaza to tell us take it away. >> yeah. let's talk about a ether eu m. what are the catalysts over the next couple of months that could move this? i identified three let's talk about the futures after the fcc said it's not a security the president of the cboe said that was a hurdle to us launching the e thorough yum futures.

they're not far off. they have an index based and you would think futures are next that could be a potential catalyst number two, the augur platform it was one of the oldest ico platform has been in development for about two or three years now. it's a decentralized prediction market now, what is interesting about this, this will probably be one of the biggest decentralized laps launched on top of ethereum we'll see with augur if it doesn't slow the system down it could be a positive what i'm calling software mining ethereum goes to proof of state. it's similar to a software mining that will come over the next couple of months but it was mentioned today about combining a couple of upgrades that, again, could be a catalyst for ethereum

we'll see how it's trading here. here is what i find interesting. bitcoin in orange. ethereum in blue here are the lows you had before what is interesting is bitcoin is right on the lows in fact breached a bit but ethereum did not ethereum is trading a bit better. >> we're going to get to a tweet but i have a question for you, first. the high in bitcoin coincided with the launch of futures for bitcoin. is there concern that the launch of e thorough yum futures will be catalyst? >> it's a concern. it's unclear to me, i think it might have been coincidence we had futures and then all of a sudden we had a sell-off from perhaps tax selling for perhaps a lot of different things.

>> how concerned should we be production of bitcoin getting to around 6,000. >> that's a great question, crypto adam. roughly around 2800 is the highest estimate and so here is what is interesting. if we get below that level miners will turn off their rates. it doesn't mean that supply decreases. bitcoin supply every 10 minutes you get 12.5 bitcoin we'll see what happens there could be incentives with the bigger miners say i'm not going to sell every ten minutes. i'm going to hold on to it so it's something that i'm watching very, very closely. because we haven't seen it in this market, at least to this magnitude. >> all right next tweet comes from oak lawn lover. this person tweets, is there a realistic chance bitcoin can fail and go broke?

>> all right so go broke. it's a decentralized system. there's nothing to necessarily go broke we're still early stages you have to think of this as a venture capital type of investment it's proof of concept. a lot of things haven't been shown yet. they have the scale. there's a lot going on here. you're very, very early days and myspace existed before facebook tech disrupts itself because you have bitcoin today, it doesn't mean in 10 or 15 years bitcoin will be the leader. >> we want to congratulate you and our chairwoman both of them took the stage at the global forum in new york city to discuss the future of money in front of some of the brightest minds in the country cool stuff. >> very nice coming up, a number of big names making huge moves this week from twitter to campbell's soup traders tell you if they're trading or baiting the moves

you're watching "fast money." here's what else is coming up. ♪ >> yeah. that's what emerging markets did this week. and the charts are pointing to more pain from one market in particular we'll tell you how to cash in. plus, one social media stock is suddenly on fire. here is a hint ♪ and if you missed the move in snap, tell you how you can cash in when "fast money" returns [phone ringing]

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campbell soup up 9%. a bit of a rally here. let's play a game. it's friday! trade it or fade it. >> all right. >> it's a weird game. >> why >> trade means you would sell it. >> own it anyway anyway trade it or -- >> trade it. it's a stock i'm long. there's a handleful of things going on here. i'm not sure if it's a rumor i'm not sure if they're executing on higher prices a lot of software names were on a tear next week. >> the next is twitter >> so i'm in tim's camp where it's confusing what i would say is fade this. not because i don't like twitter. >> sell it. >> right not because i don't like the fundment tal story but it a tremendous ramp up the trader in me wants to fade. >> it doesn't matter the reason for the ramp up. i get a lot of times stocks can be become overbought.

>> what was the reason for the ramp up? >> replacing monsanto. >> last week. >> okay. the numbers got better. >> for me it doesn't matter. i made money. >> upgrades where they were looking for another 10 to 15% on the stock that is overbought but i think clear skies ahead. >> you're trading it >> i'm trading it. >> i'm totally trading it. hard next one etsy. >> trading it. they raised guidance it's a niche play. it's artists and -- >> artists >> do you remember -- [overlapping speakers] >> absolutely. >> there's a large population in this country that is anti-amazon. they don't want to shop at amazon. >> all right

last but not least campbell's soup what do you say? >> down 23% year to date it's already bounced 14% from the recent low i think campbell soup has bigger fish are to fry. the millennial stage has gotten away from it. >> that's the problem. that's the problem. >> let's get to another big winner and that is dad as you know, this sunday is father's day the traders picked four stocks they would say would be a great gift for those dads out there. tim, what is yours >> why not hand dad something a nice bottle of johnny black diageo i like them on my day. >> bk? >> for dad you want to make sure you get the gift that keeps on giving which would be a dividend or a bond. so tlt.

>> i'm buying my father a house. lennar. >> big spender. >> microsoft they turned the ship around. it's going more cloud based. microsoft. that does it for "fast." don't go anywhere. "options actions" after this ♪

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hey there. live at the nasdaq on this expiration friday. the guys are getting ready behind me. while they're doing that, this is coming up on the show. >> snap out of it! >> shares of snap did just that. rallying over 20% in the last month. if you missed the move, we have a way to get long from less than $1 plus, micron shares have surged 20% this year but carter worth says there's something in the chart that suggests now might be the time to take profits. he'll break it down. and -- something is wrong