>> that's the one thing we did know it's not surprising he within to the lakers, but it's surprising it was a four-year deal. >> he really wanted to be in l.a. >> absolutely. he's owned a home there for some time. >> i knew the one year versus four year. that's it for closing bell, fast money starts right now fast money starts right now overlooking times square, i'm melissa lee. tonight on fast, bitcoin is back, maybe. the crypto currency having a bullish weekend. is the worst really over we have the details, tesla flailing down its numbers. but investors took the stock to the wood shed, why gene munster has some answers. first, we start with a plagiar market comeback to kick off the

second half of the year. just like rocky balboa, stocks were refusing 20 stay down long ending the day higher with big cap tech stocks leading the way. is tech what will save us all and will tech trump the trade war fears? >> hearing the eye of the tiger gets me fired up >> why wouldn't it. >> is tech getting you fired up at home? i would be cautious to think that tech is going to be resurgent. we're using technology and using tech as a place to begin to -- or not begin -- to continue this whole national security debate i think july 6th, we may have a protocol to follow through on these trade sanctions. it's not going to be a great headline guess what, it continues to test the 200, this is the part of the market that was leading and now it's struggling, i'm not excited. >> or the reverse of that, that it sold off ahead of all those

trade fears and we get to see a little easing back which has been the script thus far i would be a buyer of tech i do think that you're going to see a bounce in the sector and in the markets as well >> i think rocky balboa is wearing that tie it's nice. >> most dependent on foreign sales. and semis within tech. even if they bounce the problem with the stocks, it's stuck at a 99 high, that's not a random thing. i think the semis are dead, and tech has problems many. >> you're saying even though it's microsoft, amazon, netflix, apple. >> the stocks peaked in 2002, they bottomed in 2007 they peeked before the s&p 500 >> that's a leaning indicator. >> we can get a little granular here you have the tracks. obviously there's some real

horses in there. let's look at taiwan semiconductor, they make chips for all the major names we know about. emat makes the chips what's going on here these stocks are in bear markets, both of them. it's not just about trade, it could be leading indicators. we talked about memory, and the cycle we've had. we talked about all these trends when we go into the fall, we could see, especially as we lead into the next iphone launch, you could be seeing a lot of double ordering two times now, at the prior all time highs they had great numbers, stock can't rally. >> are semicon ductsers trade war stocks or not? are semiconductors revealing something else about the global economy? >> you look at what taiwan semis told us over the last few

quarters i think they're going to be building inventory, i don't think it's a bad thing i think you make a tell on the positioning. semis have been the trade to stay in the game on. again this is carters kind of territory. maybe you can make an argument on lower highs this is the one part of the market that was holding up, and it doesn't make me feel good >> if you're talking about, you see this as being a cataclysmic selloff. then it's hide the children at this point this is beta within technology the cyclical element within the sector stalling, and having peeked in 2000, that's not nothing. one needs to be mindful and proceed with caution >> do you think things are different. just as dow 30 may not be as

accurate as before >> they're kplodities. i mean apple yes, but amazon no. >> now we have all of a sudden, have you -- you buy a car off the lot, it's got 20 sensors that didn't exist five years ago that are being made by all these names. internet of things, this is going to be very chip heavy things, we may have seen the runup in the last couple years, it incorporates a lot of that now. some of the valuations are pretty reasonable. we've talked about intel for a long time. they've had their own issues here, but it's a reasonably valued stock >> stuck in the mud, the thing is almost in the bear market it's collapsed the thing about invidia that worries me, you're back to a commoditized space

micron is a cheap stock. >> there's a lot of m & a in the past 18 months >> you have to ask yourself. is this a china selloff or is this a cyclical global economy selloff? i'm weighing to the former, versus the latter, i think it's -- for me, it's about a trade war, and i think every time we've sold off. >> it's been bought back >> i don't think the world is falling apart. i think we've had some slight kickback in pma's, we haven't needed much to get derailed. you think of all the thins whether it was gary kohn, the fed, or all these big things or little things. >> the fed backing off is probably getting less hawkish than they were i would say that earnings are going to gear up in the next couple weeks, we have the lack of a buy back, that's a negative

for the markets. going into earnings, i still think you get -- >> if the fed backs away aggressively, that will terrify the market >> that's not what we've seen. what we've seen is, every time we go to 4 versus 3 rate hikes, that becomes a head wind >> i don't know why we think the fed is less hawkish. i'm seeing price pressures come through, i'm listening to what powell said. that was really his first meeting opinion. >> it sounds like no matter what, they will raise rates. >> this is good news here, and this is where we wanted to be, and there's no stopping us now you listen to the fed officials in february we're not goigs to respond to the market. >> i think they're taking their marching orders from the global economy. when you see trade if that hits, if that dings profitability. >> so the central bank is not independent?

>> definitively not. >> if they continue on the right path what will you say? >> i think they want to normalize. they have interest to normalize. >> if they've already telegraphed? >> the markets have absorbed it already. if it hits the fan, they're backing away from that >> i think that that's what they had already indicated prior to th them. >> so that wouldn't prove -- >> don't you think that they know where trump is? don't you think they know that trump uses the stock market as a barometer of success do you think powell who trump put into place, is going to thwart the efforts of trump to use that barometer >> if you think powell is that much of a puppet -- look at the guy's history, he's pretty distinguished. >> i didn't say just powell, every fed governor is. >> we're getting lost in the weeds here, that's my opinion.

>> what do we do here? we saw today, the first trading day of the second half >> usually when we talk about tech like this we're talking about fang fan turned things around today that's an easy go to trade you remember red hat a couple weeks ago. there's a lot of things you can but together and say, we're starting to see a deceleration in orders. you're not going to see that in companies like nace book and google that are reliant on advertising. to me, i think because people feel so comfortable with the valuation, you're going to continue to see people pile in there, i think it makes sense to keep an eye on some of these other names that are not on your radar. red hat should be one of them. this is what you should be focused on in the next couple weeks, these are the things that are going to crack before you ever see a crack in fang >> the recovery in fang, last

week was the worst week in 12 weeks for the tech sector itself the worst in 14 weeks, just recovering a little bit. i mean, the question is, are the highs that were made two weeks ago, going to be enduring over the next week, are we going to make new highs can we do it in two weeks? no we're stalled, we're struggling. all you need is another red hat or two, then you have real fragility. >> look at what happened last week >> there was a lot of dynamics along with the china trade that made everything you said factual. >> the chart master says there are two sectors you have to avoid. >> we know that tech has the most exposure to foreign sales in particular, the true cyclical frayed synchronized global growth i want to talk about industrials. this has been the dream that you want to belong financials, and

for all the good things that have been announced and yet it's really not working so what i have here is every single s&p 500 stock, about 140 names, $6 trillion, plotted equal weight, that's the key they represent about 25% of the s&p. the top chart is a beautiful uptrend. names like caterpillar and boeing american express, goldman sachs. one, we've broken trend. here's the more important thing, by my work we have undone the entire move from the election. >> so that this is relative performance to the s&p 500 all of the outflow was an eight week period. and the whole thing, we're well below where we were in the election, getting to be almost two years ago, let's move on to a few other things we have the circumstance as of friday, we're both industrials and financials as sectors, closed at the midway point down. now, that has only happened nine

other years, you see it right here, and what i looked at was what lapped to the s&p 500 performance in the second half, in those years the average performance down 61 base points, median down compared to the average second half of up four or five percent. this is not a good setup either. finally, i want to look at the correlation. they're running at an 89% correlation over the past one year, now look at over the past five years they're literally the same percentage gain. and each of them if i were to have a trend line drawn have broken trend and they also have all the elements of something -- what is known as a head and shoulders stop this is not good and it speaks to, if this isn't working, can we continue to be saved by tech and what if tech doesn't hold up. >> it's impressive for someone

to leave the desk and not come back >> i won't give my chair >> well, next time. >> at the beginning of the year when everyone came out and said the overweight financials. were you thinking they have a high correlation if you say overweight financials >> it's the trade that is -- if taxes are cut, if interest rates go higher. the two things people have not relied on. the problem is, that's 25% of the market, that's really where cyclicality is if the core middle so to speak, are not working and yet we're clustering in more and more into the tech names and tech were to falter there's really not much that could help if we get into trouble. >> i agree with that, if i look at the market going back five

years, they've outperformed substantially, even since the market peaked where as you said, the industrials have underperformed i get concerned at the price action in the stocks shouldn't this be a continuation of what we've had and a different composition of the economy. >> all true. all we have to do is have another such meaningful draw down and by inference the market draws down >> we know that buy box has helped out a lot we now have this tax cut phase helping that too, all of a sudden we've seen this spat of ipo's. busiest year since 2012 all of a sudden have you this new supply, and that's great, i'm happy for some new things to talk about on this desk. won the that be fantastic? don't forget about that supply i know it doesn't mean much, but a lot of these things have performed very well, and it gets

people's attention going to other things this media merger frenzy, feels a little bubblish too. >> no, it doesn't, it's a sector in transition. that is based upon a bottom up call in what's going on. their business is at stake right now. >> they're tripping over each other, bidding stuff up to levels that don't make sense, when a lot of people couldn't justify. the sets they made, for evaluation standpoint, the debt they have to take to do these things >> to say that's an overall tell on where the market is >> i'm not saying that. >> it's part of a -- >> a mosaic of sorts if he used passtiche, tim wouldn't have interrupted him. >> casino stocks crapsing out. one trader made a bet that the worst is over.

tess what nailing its production number for the quarter after soaring, the stock is sinking. gene munster will be here to explain. and later, china hovering in a bare market, one group of stocks has traders heading to the river, week going bottom fishing chinese style. much more fast money after this.

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casino stocks crapping out today fp the pain doesn't stop there. so far, this year shares of mgm resorts down double-digits wynn results falling 9%. sands managed to eke out gaines up 3%. making the works of kenny rogers never more true. do you hold them or fold them. do you hold them or fold them? >> interesting the way you say that those are all the names you want me to trade in a blanket of names. i would say that you hold sands. you fold the rest, but what's counter intuitive, mgm has the least exposure to macau, that

one you would think would do better going-forward >> yes, every time you bet on mgm to make up the lag, it never does maybe you take a flyer on mgm to close that gap now. >> these are stocks that actually think of the operators that are getting most of the revenue or growth coming from mccow is mccaw falling apart people get very worried about capital flows. i think this is a time where probably the currency and what's going on in china is a temporary dynamic as a result of the trade war. i think this is an opportunity but not tomorrow >> if the reference point is china, put it in the context of what it did in the '07 peak.

it was $149. in the '09 low, it was 145 this is cyclicality at its best. we're bouncing around -- we're at 71 now. if one's worried about the globe and china, this can go as low as the imagination will allow i mine, mgm had the same thing, dropping from 100 to 1.70. sitting here in the 120 range. choose your own adventure with this stuff >> dan, what did you see >> wynn in particular, it's been one of the newsiest with steve wynn retiring or leaving the company earlier this year, the stock is down 43%. we were just talking about a breakout a month and a half ago, now we're talking about a stock in a bear market it was an interesting stock that caught my eye today.

a seller out in september -- a seller of the 140 puts, if this is an opening trade, it's a bullish trade and this trader is saying, i'm willing to buy the stock down at 140. he has some room to 135 on that trade. after a free fall, that makes him sensitive to those charts, look at the one year this thing fell out of bed, you could call that a pretty big double top at the prior highs. real quickly, here's a 10 year chart, i don't know what this says to you. is that the mother of all? >> well -- >> forming >> that right shoulder is to be determined, it sure looks like that's what it is. >> that's all i got for you. >> check of the full show friday 5:30 eastern time. the entire crypto universe is booming our very own crypto baller will

join us. well, sort of. here's what else is coming up on fast >> that's what's happening to chinese internet stocks. the traders say it could be creating a buy opportunity for a number of stocks they'll give you the names plus tesla made its production numbers for the model three. but there's more to the headline number than you think. tesla guru gene munster will explain when fast money returns. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade

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welcome back, tesla out with

their numbers. >> lots of news from tesla, we'll get to the production and delivery numbers in a bite doug field who's been with the company for five years, he was essentially taken off of the main production of the model three back in may. he is leaving the company, so that's the headline late in the day, not a huge surprise there, now, let's talk about the delivery news that came out early this morning and the qt deliveries, these numbers, especially when you look at the model three, that's the disappointment the street sees here. the 18,440 of the 40,000 were model three. most on the street were expecting 26,000 deliveries, when it comes to the model three. that news took a little bit of the luster off the news that came out yesterday when the company said, look, we have a great second quarter, and in terms of the model three. we hit our goal of producing 5,000 per week

6,000 per week by the end of august is the new guidance for the company. then you have analysts coming out with, we do not think this is operation ali or sustainable. it represents a birth rate, not a yet sustainable pace yes, the company reaffirmed its guidance the stocks move d modestly >> how big a deal is doug field leaving? >> he was on leave since may or so, he's been out of the picture for a couple months at a time when the company is ramping up production >> i think if you look at the history, tesla in terms of

executives, important executives once they've been phased out or i don't want to be a part of what's going on here, it's time to move on and try something else tesla has been able to weather those departures, doug field has been a huge story over the last five years he's been pulling himself back, and has pulled himself back, or has been phased out since may, and as a result, tesla is now a company moving in a different direction. >> phil, thanks. >> you bet >> well, one tesla analyst said that they predicted a massive production improvement right here on condition nbc. >> we think that tesla is going to produce somewhere between 43 and 4500 model 3's in the final quarter elan musk has been saying it's going to be 5,000. i don't think that changes the story here which is a massive improvement

basically a doubling on production quarter on quart i. >> we're now joined by that tesla bull gene munster. before we gaze into the constellations for your future what did you make of the price action today i mean, premarket, we're up 5 plus%. >> i think it shows how embedded the bear and bull case is, the bear case the stock goes up 6% >> the reason why, based on my math and my conversations with the buy side today if you take that 28,000 divided by 12 that's a similar run rate they exited the march quarter at the bears have their case to say that even though that 5,000 number was pretty, they had to throw everything at it to get there, the reality is, they haven't ramped, i was surprised to answer your question at the action throughout the day. but after talking to investors, i can understand why the action was what it was.

>> let's go star gazing and take a look at some of your future tesla predictions. you predict model 3s to hit 6,000 by september >> why is that >> this is a little bit later than what elan musk is saying, he says they're going to get there at the end of august, we're thinking at the end of september, the reason why we think that is the -- it's safe to say, he's had 21 misses, this 5,000 production number was the first time in about 9 months he's gotten one right. i think it's safe to always dial back what he's saying, that's why we think it's going to meet the production number by the end of the 1e79 quarter. i want to put a finer point on why that's so important. if they hit that number, it's going to equate to 48,000 model threes produced in the september quarter that should get them to profitability. slightly profitable.

that is going to be an important point of the story it's not going to be wildly profitable in september. i think if they get to that 6,000, that moves them in the right direction. toll profitability and sustainability about. >> you're expecting a capital raise in the second half of 2019 that's next year how big? >>. >> this could be a huge capital raise. the company is not saying they're going to raise money, we're going in a different direction than what they're saying, the purpose of this is, how big could this be? it could be a billion plus capital raise. there's two reasons for it, they need to rephi the current debt that they have if they get to profitability that will make lenders more confident about the sustainability of the story, and should allow them to refi at a lower rate

they'll need to raise capital to advance that, we think that they will in fact raise a lot of capital in the back half of 2019. >> last prediction tesla is the best bet in large cap technology really >> we still -- >> yeah, we still love apple, i want to be clear, that is a different animal, that's something that's going to move higher, if you look at just pure upside potential and the big difference here is, the reason why tesla presents so much upside relative to the other larger tech, it's so controversial. there's this embedded buyer of all the people that are short. there needs to be a psychological shift with the street, that in fact this is a sustainable company, and we think that they will ultimately get there, and that is the pathway to showing the most upside to larger cap tech over the next few years >> what kind of price are you

talking about? >> we don't have exact numbers i hate to be vague about that, this has the most upside to all investing. >> thank you how did the chart look on reversal >> are the bigger picture is this we know this stock came out of the gate and no one quite new real or not real it went up 10 fold to march of 14 and essentially has been sitting there ever since the market took it from 5 billion to 50. here we are at 56. it's working off that move the market priced all of these things that come on. is it going to stay stuck or is there some up leg like that like multiples, what jean had referred to. my hunch is, it's stuck, as eye trading chip, sure you can make money, lose money, i think there are better things to do. >> this stock in may was at 280 and they ran into this number,

so they sold the news. i think it's a shame when you talk to people who have driven this car, they really like it, they're not too upset about paying $50,000 for a car nawaz going to be 35 for all intents and purposes the game that elan musk is playing with investors is not a great one. especially when you have a car that people really like. they got a zero interest $400 million looj from people laying it out >> is a $50,000 car a mass market car >> the messaging stinks, okay? keep it in a -- >> i got longer at 280, i'm still long in the name today when i looked at it, i said, should i trim at that 355 mark i was unhappy today. i would have thought once they met those production goals i would have thought the stock would have been $400 bid it's making me skeptical than being anything longer than a trade at this point.

>> something in there for the bulls, something in there for bears. >> i'm not surprised at all. this is a big number >> bottom line is, the company still, we don't know whether they're going to have a cash burn effect in the second half of the year. if they jammed a bunch of cars out the door to be cashflow neutral to positive, but we don't know if they can hold that i think we are where we have been >> what did you make of gene's last prediction. that tesla is the best bet >> you go into any one of their cars and you see this massive ipad like this, and no dials and then you think about what they're talking about with autonomous and in the future. >> you think no one else is doing that >> you see a company at google when their growth starts to slow, and say, that's our next frontier >> i think trading on a technology company valuation, the problem is now, they're

being gauged as a car company with productions it feels like whack-a-mole to me >> elan musk said, i think we're finally a real car company >> that's what they want to be >> and i -- the thing on tesla is, for so long. they had such a head start, i don't think they have a plagiar head start at all. every day they don't get a production number. once they get to them. a lot of competitors are closing the gap. the assumption that there's nobody in this space, because you can have an ipad on your dashboard. >> it's a little silly to think it couldn't be a tech company. apple computer at one point wanted to be a phone company let's give elan musk the benefit of the doubt, that he's probably got a plan for this one. the china crush continues as the tech stocks feel the pain, but could these names be the perfect buying opportunities the traders will weigh-in. later, check out this stock. it's forming a dangerous technical pattern that has him

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welcome back to fast money china and a bear market. down 50% from its 52 week highs. dom chiao is in the newsroom breaking down. >> melissa, the trade skirnlish turning into a trade battle that could become a full blown trade war is taking its toll on

markets all over the globe while we have seen an over hang on our stocks because of it, it's far worse when it comes to the stocks of chinese internet companies which are arguably being driven more to the down side by trade and international relations worries, check out three of the biggest internet names out there, we have shares of e commerce now off by about 13% from their recent highs we saw on june 5th. the google of china is now off 15% from its recent highs. and then there's jd.com. it's lost around a quarter of its value since january 29th sentiments around investing could be increasingly exposed to the negative headlines on escalating trade tensions with the u.s. more evident if you look at the bigger itf's that track stocks

it hit a high of $54 a year there's definitely broader and emerging market weakness many stocks being driven by trade tensions >> thanks. >> we thought, there's no better time to go bottom fishing. here's how it works. we'll go around the horn, if you would buy the stock, you call it a good catch, if the stock has further to fall, would you call it a dead fish get it >> very easy >> tim is the first victim ali babb about a, good catch or dead fish? >> good catch. i mean, look, babb about a, if you think relative to the asset class, it's a nice looking fish, by the way, it's a green healthy looking fish >> that's where you want to

fish >> bottom line, ali babba has outperformed the underperformance in the sector, you look at -- they have fiscal q 1 2019 coming up. you're going to see 60% revenue growth in this quarter i think the valuation makes a ton of sense here, and i think the trade madness, this is one of the largest stocks in the emerging market index, that's what's going on here, people it's outperformed that index massively. >> if you had to choose, would you choose ali babba or go for amazon >> me personally right here, i like this. >> ali babba has been consolidating all year long. it's a much better secular trend here than in china >> it's a good catch >> it's a good catch >> you don't have to worry about valuation, people can't get

their head around that valuation, that's the other reason they go to alibaba. >> good catch. >> here's steve's stock. what do you say? >> when dom inning electroed this package, the chinese google, and they're in a lot of the same lines of business that google is in, obviously, they're much stronger in change in a, google is weak in china, but stronger globally, i would think that the biggest thing is this, that the head wind you've been dealing with has been the trade war, i don't think it's going to be as bad as everyone thinks i do think you'll see some -- >> good catch. >> the green one, good catch >> i'm going to show you a group chart. go ahead, you're next. >> what do you think about badu being a good catch >> i want to talk about the whole group. >> if you told us what you thought. >> at the end, okay, fine. i have a grown chart that might

be relevant. you take the top five stocks in the s&p, plus netflix and price line versus the top 7 stocks in china internet that group doubled the performance last year, now they're down 10, where as our group has continued up another 30 there's much more excess in the chinese group, than there is in our group. and i think -- >> or growth potential depending on how you look at it. >> but markets are smart i think the whole thing is a dead fish. >> you say dead fish, dead fish. and dan hasn't had a turn yet. >> this goes back to the original conversation we were having in the a block. i was going to use that as another one of the inputs. the fact that this group has been consolidated like this is another kind of tell >> apply this announcement to your stock >> it makes sense to look at all these names in particular. they're growing sails 30% a year

they're behind alibaba opinion google just invested $550 million in this company at $40 a share. it's trading below that here i think this is a good catch you look at it technically, it's bounced off 35, 36, i think that's probably the opportunity to really jump in, but i like this story here. >> can we put up that -- i have a question for carter on his dead fish. >> i like dan's green fish by the way. >> i think jd is always at loggerheads with baba, and i think they're doing everything they can do to push jd around fp. >> in loggerheads with walmart who's an investor with jd and google think about two guys who want to compete with alibaba locally >> it what's walmart did with flip cart. i don't think they're going to do anything in global markets. >> fxi was carter's redfish, you

made a comparison between the chinese internet stocks. they're state owned enterprises. >> some of the biggest money trade stocks in groups we know that, that's the way -- >> it doesn't matter that a lot of these stocks are not in the fxi? >> that's the issue. look at the casino stocks we just talked about, if there's pressure in china, it doesn't matter what an individual player is going to do, there's going to be pressure. >> i agree with that, stocks that trade as a group and higher ones in the group are going to outperform and then underperform as you laid it out the fxi has a lot of chinese banks in it. there's a reason why it should underperform you think that's over? >> no, i think it's a dead fish, and everything we talked about is a dead fish >> music's playing sorry. don't call it a comeback, bitcoin is surging there's one saying the whole

cryptouniverse is waiting for. there's one in the early stages of a classical technical pattern that could spell trouble ahead eligible for medicare?

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if he were here, what would we ask him? >> the first thing i would say is, why do you look like captain stubbing why is bitcoin higher? this is a massive move >> actually, funny you should ask that we've got an answer from limb. sort of. bk writes, bitcoin failed to test the june 24th news. wow! short and sweet. anyone buying this bounce? >> what would you ask? >> it's always driven by certain catalyst one of the catalysts in the second half. we just booked the first half of the year, what do we have to look forward to. >> we have an answer to that question as well we don't know where the boat is, there are a number of catalysts, those being ice crypto currency exchange that's $1 trillion. able to buy crypto and regulatory clarity

thanks for checking in with captain b.k. when you took a look at that price action, what did you make of it over the weekend >> i thought it was led scratching the range has gotten tighter and tighter, look at it in a log chart, it's in that down trend i'm starting to pick at it here, a lot of those catalysts that they're talking about. i don't know if you saw the announcement out of coin base today. these things are going to come, it's just a matter of when >> the chart master is not done yet. he's going to break down a massive sell signangli we're live from times square in new york city. much more fast money right after this

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welcome back to fast money all of you at home are big fans of our technicians and charts. as you watch them, you probably found yourself wondering what some of those lines even mean 37 we're getting the chart master to break down the classic pattern in a segment we like to call, the more we know something you heard him mention over and over again. before there were computers, the original practitioners were trying to convince people what they were doing was not insanity it's a reversal formation, you see right here, and it occurs at bottoms and at tops. and then finally it proceeds a

major advancer i thought we could look at a few from the past. and then find one for now, now, here's caterpillar this is caterpillar from the 2015, 2016 low and a massive move, the stock from the right shoulder up about 145% and the key is it moves from the neck line. let's look at another one on a five year chart. they're all a little different but the same principle in this case, up about 270%, and all the good eating starts from the neck line. all right. on the way down, head and shoulders top. just this year, a big asset manager. you can see the formation, you can see the neck line. and you can see the plunge just in the past 2-3 months down 25%. the point is, it doesn't matter what the business is this is truck engines, this has nothing to do with an asset management business, the key is

the same you see the neck line, you see the top, and you see the big plunge over the past 4 or 5 months we know we have this beautiful trend line we are hovering on city bank right at the neck line the risk it, it completes the topping formation. head and shoulders, bottoms and tops are very real. >> at what point do you really identify the right shoulder? >> a lot of charts set up that way, and arguably you can be aggressive on going to the downside >> you want to -- >> the best head and shoulders tops, the right shoulder is lower than the left shoulder once it starts to fail to make a new high and slump, usually that's the tell it's in trouble. >> very cool >> you had a head and shoulders chart before, right?

>> yes, that was interesting to me >> sometimes that's where you get the most bang for your buck do tthe ck le wno neintoo. up next, final trade hi, i'm joan lunden with a place for mom, the nation's largest senior-living referral service. for the past five years, i've spoken with hundreds of families and visited senior-care communities around the country. and i've got to tell you, today's senior-living communities are better than ever. these days, there are amazing amenities, like movie theaters, exercise rooms and swimming pools, public cafes, bars, and bistros, even pet-care services. and nobody understands your options like the advisers at a place for mom. these are local, expert advisers that will partner with you to find the perfect place and determine the right level of care, whether that's just a helping hand

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e*trade. the original place to invest online. you're gonna do great! thanks, dad! break a leg! aflac?! not that kind of break. oooh! that had to hurt. aflac?! not that kind of hurt. yeah, aflac paid us cash in just one day to help with our car payments and mortgage. aflac! perfect timing! see how aflac helps cover everyday expenses at aflac.com. final trade, carter. >> the dogs of the dow loser j & j for recovery trade up. >> i like taking a shot at the support at least about. >> i'm currently in the stock, it's had a huge draw down. >> i think carter gets an mvp

vote today >> heavy presence here he dominated >> good catch. >> for that, i'm going to sell jd.com i think the margins are deteriorating. sell jd.com. >> i'm melissa lee thanks so much we're off tomorrow mad money starts right now my mission is simple, to make you money i'm here to level the playing field for all investigators. there is 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 make you some money. my job is not just to entertain you, but to educate you. so call me or tweet me close watchers of "mad money" know i'm not a chartist, but i do play one on tv