offer from rival comcast netflix was up nearly 5% this year facebook hitting new highs, up 3% i agree with you, it's amazing to me how much these companies are still growing. >> yeah. i don't -- >> the share price, i can't -- >> tough to justify. >> we'll try next week evan, thank you for joining us today. that does it for "closing bell," everybody. "fast money" starts right now. live from the nasdaq market site overlooking times square, i'm melissa lee. tonight on "fast" bitcoin is getting slammed after japanese regulators call for an upgrade of a major exchange. are we seeing the death of bitcoin as we know it? we will break it down. plus the chart master says there's one dow stock heading for a big comeback he'll tell us the name and how high he sees it going. first, we start off with the energy sector to the rescue helping the dow avoid its longest losing streak in 40 years. one could say it was the type of

dramatic save one only sees on "baywatch. exxon up 11%, marathon oil up 36% and chesapeake energy up 63%. so what better time to play a rousing game of trade it or fade it, energy style we all know the rules of the game. >> can you go over them quickly, it's friday. >> guy, chesapeake >> well, melissa, you can say the stock is up 63%, how can you possibly trade this stock still? that's a great question. i will say you trade chk one of the reasons why is valuation still isn't ridiculous, although that's not in and of itself a reason to buy the stock. but there's still a significant short interest of 22%. i don't think they have come close to covering yet. i think the opec news is bullish, as you saw with the stock up 3.5%. i think there's still room peep will chase and i think they'll chase this closer to

$6$6 $6.50. so i say trade chk. >> which means buy it. >> i did it correctly from the start. >> you're not the only one involved here. >> why didn't you give me the rules at this beginning like i asked for. >> what would you do with chesapeake >> i think for a short-term trade i'd be a buyer i agree with guy, i think the short interest with the qualifier there for me this move will last a little longer in energy i do believe the shorts are going to continue to push this higher i'd be a buyer. >> it's overbought on a relative strength index i would fade it. i would fade chesapeake. it's overbought. last time it was overbought it came in pretty dramatically for a $4 number or $5 number so you have to be very careful it had a big day today on a relative basis i would stay away. i would fade it. >> i would say i would trade his fade, but i really want to say i would buy. >> that's confusing. >> exactly, the whole thing is

confusing because trading is both buying and selling, believe it or not. when you have a trade, there's a buyer and a seller the point is i would buy chesapeake. >> okay. >> buy with a "b." >> maybe the game should be buy it or sell it. >> buy it or deny it. >> no, the graphics are made for trade it or fade it. >> steve knows this and i'm not suggesting, but if the stock flat lines the next couple of weeks, rsis come back to normal levels, the stock could go from there. >> and to counter your kourncou, all stocks react differently with a relative rsi. this one, chesapeake in question, actually responds pretty dramatic to an overbought and an oversold. thank you. >> you know what that is quickly? that's a trade school. can we throw that graphic up >> nice job. >> marathon oil, trade it or fade it? >> i'm going to be consistent

here and go with fade it because it's still in the energy complex. the reason why energy moved today was opec that was the overarching macro news of the day. everyone was expecting a million new barrels per day to enter production we got something like 600,000. the big difference was that was bullish or seen as bullish for the entire market. i think it's a sell. i think energy is a sell. >> fades once again. what do you do >> i trade it because you've got a great setup. $22, looks like it would break out. you don't need to buy it ahead of that, wait for the breakout see if oilcontinues its run or i'm a trader of this or a buyer of it. >> i would say i'm a buyer as well, again for the short term rising tide is going to lift all boats in this sector >> it was up 7% today. don't you think you should let it breathe >> you can let it breathe but i wouldn't let it breathe right now. i think there's more upside in the near term in this sector. >> i'm with steve on fade it i'm playing the game correctly not buy it

>> buy it or deny it >> there's no buy it or deny it. stick with the terminology. >> this stock valuation is expensive and it has like a 2% short interest so not a lot of shorts here. they're going to give you the next impetus so i'm with steve on the fade. >> if you look at energy as a whole, guy and i like to play this with the xle. five-year performance is basically dead money granted you have these moves that are month to month but on the whole energy has really done nothing for five years >> which brings us to our next one, conoco phillips. >> so i'm a buyer of this one. i'm a buyer. i'm not going to be a denier. >> there's no such thing as denier stop with the denier so i'm trading it and the reason why again it comes down to i think all these names have a great risk/reward setup right now. $65 on conoco phillips i know where my stop it, that's

it right there and then i can shoot for the upside. >> can i inject a question into this >> you run the show. >> i know, i can do whatever i want what levels do we need to see oil hold onto in order for these trade it or fade it scenarios to work >> crews actually come off the next couple of weeks and if crude were to go sideways, even if it was slightly lower, i think you'd see performance in the energy sector. >> it all goes back to the demand right now i think the worst case scenario is for it to go to $75 which would scare the heck out of people because of the expense of gasoline and et cetera i think we're in a pretty good zone i think you could have crude grind a little higher and you're a winner on his call, i'm a buyer of that i agree because you want to own brent levered names. the spread between wti and brent is probably going to continue to widen. i'd own this name.

>> you just brought up the best question of the night so far is where crude goes. >> thank you i've already invited you over to the desk. >> i'm here. if you look at everything is reliant, it depends on what degree on the crude move the crude move is at the upper end of the bounce or the sell zone right now it should be a sell right here at $69.30, which is right where we are. >> last pick here, exxonmobil, trade it or fade it? >> i'm a seller, fader, whatever you want to say. there's no growth until 2020, zero growth. so the stock probably meanders and probably will. if you say a rising tide lifts all boats, grind higher, but it's going to underperform every other name i'd prefer cvx over this. >> it was energy that saved the dow from its nine-session losing streak what do you make of that in terms of snapping that losing streak but with the leadership of a very small part of the s&p behind it? >> i'm sure we'll discuss this

if not on this show on the great options action with dan and mike and carter the underperformance of technology would have been our lead in many shows were it not for this energy. yes, you had the breaking of the eight-day losing streak. the s&p was up marginally. that gives me some paws. can i play real quickie, what did you do on exxonmobil i'm denying it. >> so you're fading. >> the energy complex does not have the punching power of the technology group it can never lead this market for longer than a day or two or maybe even stabilize it for a day or two i think for the most part if energy was for sale in some large way, there's no way that -- i'm sorry, if technology was for sale in some large way, there's no way that energy saves the day, so this is putting all your eggs in the wrong basket if you think energy will keep this rally going.

coming up, the crypto universe is crumbling as about it coin sinks to its lowest levels of the year are we witnessing bitcoin armageddon plus it's been a tough week for tesla. one top analyst says something about the electric vehicle company doesn't add up. and later the chart master is pressing the buy button on one dow stock. when you find out why, you might be pressing the buy button too we're live, much more "fast money" right after this. at&t provides edge-to-edge intelligence, covering virtually every part of your retail business. so that if your customer needs shoes,

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welcome back to "fast money. bitcoin down about 11% tonight check out this chart bitcoin down 65% since its all-time high. bob pisani is at the nyse to break the rest down. >> hi, melissa cryptocurrency is facing a crisis of confidence it's mostly around the security exchanges. bitcoin prices fell 6% after japan's financial regulator ordered several crypto exchanges to step up their game to prevent money laundering, terrorist financing and unauthorized access who could blame them break-ins at two south korean exchanges have been a real blow to security and confidence on wednesday, south korean bithumb had $30 million crypto

stolen last week coinrail, another south korean exchange, had been hacked losing over $40 million in altcoins. they said they would suspend the creation of new accounts speaking of confidence, earlier this week there was a withering assessment from the bank for international settlements. these are the central banks for other central banks around the world. on sunday, they released a report saying cryptos were unstable they consume too much electricity and they were subject to too much manipulation and fraud to ever work as a medium of exchange finally, this technical pattern, oh, it could not look worse. not only is there a straight line downtrend in place, we're about to break before the lows of the year. that was set on february 6 when bitcoin briefly broke below 6,000 before bouncing back then it doubled to 12,000 in the following four weeks that's a good reminder of just how volatile crypto can be back to you, melissa. >> all right, bob, thank you

bob pisani. all this terrible price action in crypto has given us pause and forced us to ask a tough question should we continue to cover bitcoin? and the answer is, sadly, no so today we are having a funeral for bitcoin. it was fun while it lasted so many memories, so many friends. there was tom lee and his calls for 20,000 by year end there was calls for 40,000 and there was ripple i think we'll miss you most of all, brad garlinghouse and who could forget the screen grab and mindless trolling on twitter, and of course our bitcoin bug. bitcoin, we hardly knew you -- >> hold on, hold on, held on. >> what? >> listen, i've got a couple of things to say here this is not the funeral for bitcoin whatsoever so follow me over here to the thing and i'll tell you what's going on here. a couple different things. let's look at the bitcoin bug that we just retired and all of

a sudden we're declaring that the bitcoin funeral is here. when you know when that bitcoin bug came on? just around the high when we start to declare a funeral and things get really horrible, sentiment is approaching the lows so hopefully we'll use that funeral bug to say, hey, that was near the lows. number two, bob talked about the japan exchanges ordered to improve business conditions. it's actually a good thing short run it's going to be a little tough because they're stopping new accounts from coming in, but actually they're cleaning up the system and making sure it's more robust, making sure it's better for people finally there was news today that matt gawks is going into rehab, and they're going to sdr distribute the rest of the bitcoin but they're not going to distribute it until at least q1 of 2019. everybody thinks there's going to be a wave of selling. not happening now.

let's go to the chart and see where we are 60 to 75%, peaked down here. that is not unusual and very painful. look where we are right here guess where we were. that was only back in november, okay you know where we were a year ago? $2,500 so let's put this in perspective. it doesn't mean that bitcoin can't go lower this is a bear market and bear markets, we don't know where they end it's usually some kind of big crescendo to that. this is by no means the funeral for bitcoin. >> so when you look at it's roughly december, that's when bitcoin futures started trading and then about 17 days later we see the peak in bitcoin and we haven't seen that be resurrected and we haven't seen that lower trend line be broken is it because people can now bet

against bitcoin that you have a real arena for the bears to lion >> no, i don't think so. there's not enough in the bitcoin futures to put that kind of pressure on them. they're cash saddled there's a little difference there. we had a confluence of a couple of different things. remember we had tax selling and a couple of these hacks. and also remember we've had $10 billion of new money go into icos to me the ico market looks like that right now looks like december where we put up the bitcoin bug down here is where i want to be starting to get long these crypto currencies and less into the icos. >> do you think we should bring back the bitcoin bug >> yeah. you know what, i do think we should bring it back i like to be a contrarian, so yeah, let's do it. >> there it is there it is. >> that was great. you did the hand thing but you went the wrong way

you've got to look this way. that was fantastic. >> because i'm looking at the reverse in the tv. >> it's hard to make your brain work that way. mine just doesn't work. the former ceo of starbucks, howard schultz, said the struggling stock will take investors to the promised land i'm melissa lee, you're watching "fast money" on cnbc in the meantime here's what else is coming up. prices are insane. >> that's what howard schultz wrote about the price of starbucks stock and we've got a way to buy it for even less. plus -- >> so michael, what do you think about the new design >> i love it we go back a long way. >> wait until you see the new chevy blazer, because it's already got some of the traders kicking the tires on gm stock, and that's when "fast money" returns.

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today after they questioned the way they account for losses. they currently have a -- this caps off a tumultuous week for tesla, after suing a former employee for hacking and sharing data of the company. the stock is down 7% this week so is this the time to pump the brakes on tesla? >> no, i'm still long. you know where i bought it, i bought it -- the last purchase was right around that 280, 281 mark i'm still long it had a massive spike higher. it's settling in now if you look at the stock, it only matters what model 3 production is going to be. all of this, all of the analysts that march out, any time the stock spikes higher, they're going to sound like white noise. if they meet production levels of 5,000, which they probably will, the stock is over $400.

>> i think the one thing you have to look at is who's the incremental buyer. if there's a potential issue like tony identified with the way you sort of allocating cost of goods sold, that is a red flag that's a really bad, bad black eye for them so i'd say this, the institutional community right now, the core holders, they're happy holders, maybe the mutual funds, hedge fund communities are circling the wagons and asking for any information they can to potentially get short the talk at the right time and really press on that. >> those wagons have burned before >> core investors think that elon musk is crazy i mean the way he's coming out with this text, all that stuff. >> but the street has looked through the possibility of missing numbers. the street has looked through all sorts of things, all of a sudden they're going to be hung up on gross margins? >> they have cared about production sometimes, they have cared about growth

right now you tell me if they meet 5,000 per week -- >> you're right. >> -- you think that the stock goes where >> always look at sentiment. i know for a fact institutions right now, hedge funds are being very, very critical here. let's stick with the autos general motors is bringing back its iconic chevy blazer. let's get to phil lebeau in chicago for all the details. >> it's been about 14 years since we last saw the chevy blazer being sold by general motors get ready for the new one because the company unveiled it last night in atlanta. if it looks far different than the blazer you remember, that's because it is. the old one was a true suv built on a truck platform. this is a 2019 model that goes on sale next year and it will be built in mexico, which does not sit well with the uaw. it issued a statement saying gm employs over 15,000 production workers in mexico, pays the workers less than $3 an hour and exports over 80% of the vehicles to the u.s. to sell here this is all happening while

uaw-gm workers here in the u.s. are laid off and unemployed. why is general motors bringing back the blazer? because it's a hot market right now for crossovers look at the sales in the first quarter for general motors these guys aren't the only ones who realize this is what people want high profit margin vehicles like a crossover are in demand and so they're going to add to that with the chevy blazer, again in showrooms next year. as you take a look at general motors exports from mexico are up 39% this year. general motors exports, melissa. and this news, maybe the optics aren't the best. they announced this vehicle and announced that it's being built in mexico one day before they layoff 1,500 workers at the lordstown plant in ohio. >> phil, thank you phil lebeau in chicago what do we do with general motors >> buy it or deny it >> no, no, that is not a thing that does not exist. but in thames of autos --

>> i would deny it then. >> you see what i did there? gm last fall traded up to 45 valuation is a compelling argument, i get it but it's had a tremendous run. maybe these autos are dead money. i would rather deny it than buy it at these levels. >> i'm with guy and i would deny this one too. >> not you too >> i would, yes. i completely agree the price action has been awful the last couple of days. you just want to stay away from it now. >> i would buy it, not deny it especially with the crossovers phil showed that little graphic there with crossovers up 23%. >> right. >> and pickup trucks only up 2%. ford is your name for pickup trucks gm, crossover. >> chevy blazer, by the way, was the "it" car in the '80s it was my first car. i got a used '87 blazer. to celebrate the return of the

blazer, we thought we'd take you back to the decade of decadence to show you what the traders looked like then guy -- take a look at what guy looked like. oh, wow. >> which one are you >> which one is he >> i'm the one with the stripes. >> it's obvious. and then there's grasso. where's grasso's picture >> deny it >> there he is. >> you look identical. >> brian kelly take a look at brian kelly here. oh, so adorable. >> that's the don johnson look there. >> and david seberg's picture in the '80s >> there's the actual picture, and you do actually -- >> he looks like meryl streep there. >> i didn't make fun of you. >> beakers. >> you know, i said gold was a

decent buy i think silver too slv, great risk/we ward. >> xop i like it for a short run to 45 bucks. >> chk comes out, mel, back to you. >> seeou b yack here on monday at 5:00. don't move, "options action" starts after the break welcome to holiday inn! thank you! ♪ ♪ wait, i have something for you! every stay is a special stay at holiday inn. save up to 15% when you book early at hollidayinn.com

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the guys are getting ready mind me. here's what's coming up on the show >> this is, excuse me, a damn fine cup of coffee. >> and former starbucks ceo howard schultz says if you like the coffee, you should love starbucks cheap stock. we'll tell you how to play it. plus -- >> money has got to be the shoes. >> shoes. >> shoes. >> shoes. >> it's not the shoes that has him so excited, it's an options trade that can make money if nike is up, down or nowhere at all into earnings. and here's