got an interview with ups' cfo on the earnings. >> and also, two big political interviews, tony blair and former treasury secretary jack lew, they'll be here tomorrow. >> nobody does earnings like cnbc. >> that does it for "closing bell". >> "fast money" starts now. >> "fast money kwot "starts right now live from the market overlooking new york city's times square i'm melissa lee. your traders are guy adami tonight on fast, do not -- do not adjust your tv sets. bitcoin is back above $8,000 and one steep hurdle the crippo currency needs to clear to keep the rally going, we'll tell you what that is. plus wall street's raging bull tony dwyer is here and he'd rather recite -- >> love that >> the best chance to buy could be just around the corner and he will explain, but first, we are in the middle of the busiest week of earnings season and it's

been judgment day for a lot of stocks out there we've had big winners like eli lilly and big newsers like netflix which is down double digits since its report last week >> gilligan's island >> one of the wholosers, and bog is up 6% and facebook up 6% and gilead up 9% in the month leading up to earnings how do you separate the future winners from the losers here and no other way, trade it >> no other way at all >> the only way -- you've got to buy it >> it's probably the best and most adept to play in this game and we'll kick it off with guy facebook is reporting earnings tomorrow trade it or fade it. >> trust it or flush it. you like that? is that better >> because i had buy it or deny it and nobody liked that >> that's something else. >> we've had this conversation >> trade it means you want to

own it fade it means you want to sell it >> full disclosure, when the whole cambridge analytica thing came out i thought it would be mired. david seeberg to my right said not so fast. and that's a pretty ridiculous move if you're asking me what's going to happen, and i think it will continue to rally in earnings and i think they'll post a good number it's 48% >> since -- $145 stock, when that thing went down, on and now it's gone down >> we can argue. my point is this, great numbers faded post earnings. so flush it after they -- thank you. >> fade it >> i liked it. >> look. i know that the stock's had a big move from the bottom up and ultimately, our ad buyers that we have shown suggest that buyers have not absolutely faded from the platform and they'll spend more on the platform than

they anticipated through the end of this year so i would buy it here >> the platform, if -- if trade subscribers and users are into using the centralized platform and facebook is cheap for a reason and even before cambridge analytica underperformed some of the their peers and facebook is a stock that's run way too far >> i would absolutely trade it >> no. no -- >> fade it no, wrong one! sell it! >> thank you >> we've been stuck on gilligan's island now for a long time. >> i'm trading it. >> well, i don't know. we should decide who on this desk wants it. >> hands down howell. >> i'm a shareholder and i don't agree with almost every word

that came out of your mouth regarding facebook. >> thank you >> often i do, but in this particular case i do in the last quarter they put up was stun, right? and then yesterday we saw google, alphabet's numbers, also stunning so unless you really think that alphabet is just taking share which i do not i believe that the pie is growing and that they're going to be a huge beneficiary, and the value of instagram i am long. i think that the gdp is a benefit to both them and to alphabet i am trading it. >> all right >> let's get to the loser of the group here remember the loser >> steve >> no. i should have said me. i'm sorry. >> it goes -- trade it or fade it >> i would trade it. i would trade it and i look at what's going on in the fast food space and there are headwinds in the higher labor costs and possibly input cost and this is a company that's reinventing

itself fresh beef and i'm not too worried about the food scare i think steve has both reinvigorated the brand, and i think globally what we've seen is extraordinary, but the strength is in the u.s. market same-store sales are back. the skipper is not going hungry at mcdonald's. >> i agree i think he's done an amazing job here fresh beef is coming back. they are absolutely bringing it back their menu selections have improved this is a stock i absolutely would buy here for the long term you can't go wrong owning mcdonald's. >> i agree i'm not going to mcdonald's. i'm going to the cheeseburgers, beef, fresh beef it tastes better frozen, by the way and it's been basing at 160 now since february-ish and i think it's ready to take the next leg higher and if i'm playing this game which clearly we are, i'm buying it and not denying it >> you're trading it >> it's as if we had a buy it. >> trade it. trade it. >> we have a trade it stamp. >> you got it right. >> boeing is the next one up

up 6% in the past mother karen, what do you think of boeing, is it a trade stock or not? >> okay. >>. [ indiscernible >> let me ask one more question about the game if i were to say fade it, that's not short it that's just not long it, right >> yes >> i would fade it, i wouldn't be short -- however, i think, you know, it's a fantastic company and they seem to be hitting on all cylinders to me, it comes to valuation and plus i think they do have it here >> you look at how the end customers trade. very cyclically. the stocks trade very cyclic leigh. this stock used to be a cyclical stock. now the p-e multiple has gone one way for four years and it's in the mid to high 20s and that's too expensive for me for what i believe the cyclical conditions of the business exists it's not evident right now >> tim i disagree with everything out

of karen's mouth i do disagree with the fact that i don't think the stock is necessarily as exposed to the trade front. you can wipe out the chinese portion of the group and that's 3% of the overall valuation and ridiculous cash flow positive and that's what's been going with this company and i look at the length of a cycle on an airline order and there are two players in town, who is the better player? it's boeing. i'd trade it >> i agree i would trade it here. i think there's a free cash flow story and the china impact is way overblown because china just can't cancel any orders that stla in t they have in the boeing. they're locked into boeing and i don't think the trade or argument is a reason not to buy this stock i would be a buyer >> can i ask a question before i tell you my answer did it struck you odd that they always had every piece of luggage they ever owned for a

three-hour tour? >> why are they on such a small boat with a lot of other people? >> not with five other people. gilligan and the skipper were the crew. >> marianne and ginger -- >> i digress >> i say trade this one. >> i know what karen is say, and it is ahead of its skis, but if you look at what lockheed martin said tremendous quarter and boeing's quarter was nothing to sneeze at, and there is a good chance to take the all-time high >> last, but not least, gilead up 9% in the last month along with a biotech sector overall. >> i think gilead's a good buy here and they'll make a meaningful acquisition and that will be transform tiff and the so theup going into earnings is pretty good. last quarter, modeling numbers

was way too high when you look at the glaxo smith line, that was supportive. the valuation is cheap and that's a time you will buy here. >> in the last couple of quarters, every time the stock opens their mouth the stock goes down they'll make another acquisition and they'll get i bounce and it ain't going to happen when they report and there is a good chance that the stock's gone from 55 to 77 and it will abe fade move. >> think it's gone up with the group, but also i do think their specific expectations are not so high, and even though the stock has moved -- i would trade it. >> all right our next guest ain't fading anything because he's wall street's biggest bull, but there's always a but on "fast money. he sees a near-term pullback coming tony dwyer, the chief market

strategist is here with his latest call. we simply call him, by the way, the raging bull. >> look at that shot >> take it away, tony. >> i might change hairstyle. >> well, listen, i am a raging bull no question about it if you look at every news item this year you would aren't believe that the market is up as much as it is and that's because it's following earnings. what we have is a very strong economy where consumer confidence and business confidence and ceo confidence are right near a historic high and if you look at nafib which hit a cycle high in may historically, there's been a 41-month lead time from a cycle high to a recession. nowhere near a recession, we have a maturing millennial demographic. i'm a millennial and people don't realize it i'm a millennial, guys when i was 25, 27 years old all i wanted was experiences and when i turned 27 i met my wife

first son, 30, second one on the way. the millennial demographic peak birth year has just turned 28. my niece kate has 14 weddings this year. we also have huge earnings growth 20% growth this quarter will probably be closer to 25% when it's all said and done versus the 20 what we don't have is an attractive entry point i think again if you're looking for the next six month, it doesn't matter, but if you want to trade it better, we're overbought in a market that's above the ten-day in a highly volatile year which has been our plan all year. we want to buy weakness versus chase extreme strength and when you look at the earnings, one thing that i wanted to point out that's really important that most people don't realize is profit margins remember when the project

margins were taking a deep, and what i wanted to point out is that every time, prior to a recession, every one of them came in the top line failure and we're making a new high and we're not peaking profit margins and that's why i'm a raging bull. >> should tony come over here? thank you, ♪ ♪ >> tony, what would make for an attractive entry point >> okay. so i look for the percentage of stocks above the 10-day moving average to drop 20%. i look for the vix to go to 20 i look for the investors' intelligence news level to drop down to 25% and they recently jumped to 55% and i look for it to come out for overbought

it's an extreme overbought >> please don't take this as a sell this is a wait to buy and if you're extreme overweight tech, i think they stay overweight and just cut it back the price they've given is such an overweight you've taken the chips off the table there. >> say you have no money in the market, right? would you just allocate half or something? go ahead and buy even though you don't think it's a good entry point? >> i've got to say, you know, i'm going to break the cardinal rule for strategist. my near-term field stinks right now, so i don't have a high conviction on the pullback and it'ser mo of a pause and we'll go down 5% to 10%. history shows that when the rate of change for the s&p got a 200 bump up, you have a 2% to 5% pullback in the market and the uptrend that started in april. >> that makes sense to me and i don't hear you stamping your fist on the table. what do you do the factors that

we might not be able to control? will that be an outlier to the bull call, the way that the yuan was trading with china, and it looked like they would read on and it's the offshore, currency. >> that makes me a little bit nervous. the market doesn't care and that's okay, so i just -- i just feel like the banks are still good because we're getting the upward pressure in yield and we did a show on that three weeks ago and this is just an exciting and overall environment with kind of a nuance situation where you may just want to -- to karen's question, you wait for the third in on another decline and not care about the roast of the third. >> we have a crack staff with clips. >> we do >> why did you bring it up >> because they do their homework and we do have some

we just want to know what it was like working with deniro back in the day. >> look. >> look at the resemblance >> i'm on the show i can take a punch go ahead >> go on my twitter, you'll see, i can take a punch >> tony, thank you trade it >> #giddyup. >> everyone we're talking to say we'll have 2800 and you fade it. whenever that sort of happens and that narrative and that discussion occurs we always break through and ends up going higher and it's a big risk that we have a near-term pullback at some point i just don't think it's right now and they'll continue to move up to that level and not break through it >> coming up, check out shares of at&t reporting earnings moments ago and ceo randall stephenson speaking to investors right now and we'll tell you what they said about the company's megamerger with time warner and plus the bulls are back they have bitcoin soaring past $8,000 and the crypto baller

says there is one thing that has to happen to keep that rally going. he'll explain. hi, tim. >> hi. >> pot stock have been burning up the bad times are over and he'll step up to the plate and tell us which names he thinks will lead a turnaround. >> we are live from new york city's times square. much more "fast money" right after this d have guessed? an energy company helping cars emit less. making cars lighter, it's a good place to start, advanced oils for those hard-working parts. fuels that go further so drivers pump less. improving efficiency is what we do best. energy lives here. but prevagen helps your brain with an ingredient improving efficiency is what we do best. originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory.

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we all want to know you know, the new, new thing. with xfinity's retail stores, you can now see the latest. want to test drive the latest devices? be our guest. want to save on mobile? just ask. want to demo the latest innovations and technology? do it here. come see how we're making things simple, easy and awesome. plus, come in today and ask about xfinity mobile. a new kind of wireless network designed to save you money. visit your local xfinity store today. >> welcome back to "fast money," we have at&t

let's get to julia boorstin in los angeles. >> at&t is falling because it missed on revenue expectations and it did beat on earnings. while the company raised its outlook for earnings over the course of 2018, the call that is going on right now is less about results from the quarter and more about the strategy and the newly combined at&t and time warner renamed warner media. take a listen to ceo randall stephenson >> we've now assembled the key elements of a modern media company and it all begins with owning a wide array of premium content because we are absolutely convinced that there is nothing that drives customer engagement like high-quality premium content and whether it's netflix, amazon, google, disney or comcast, everybody is now pursuing the same thing. in an unusual move, stephenson was joined by all of the division heads including john thanky he said they want to invest in more original premium content for hbo.

stephenson and stanky talked about how they can have global capability ands how those different investments will enable them to have a valuable, direct relationship with consumers. >> you take these three elements, premium content, 170 million direct to consumer relationships and great ad technology and then combine those with the high-speed networks and we think all of this is a game changer bringing these four elements together has changed the way we think about the value proposition. we spend our time now thinking how to combine these elements to create new customer experiences. >> as for cord cutting, the company says gains in digital streaming services are compensating for declines in the traditional video business saying their new $15 watch tv service is helping drawing in cord cutters >> thank you, julia boorstin in

los angeles. you know what randall stephenson said on the conference call as what julia highlighted? we are a modern media company. what kind of multiple should at&t have? >> it's a multiple at the bottom of the historical range. >> it's trading telco and trading worst of the telco bunch and whether they are losing the war on wireless, i think, the wireless business, first of all, is becoming mildly less competitive and the short term is better for these guys than that front and the content that they got here especially when you look at the multiple with people having it, i don't know why these guys shouldn't have a multiple and i'm long at&t and it's been a difficult trade for nine months. >> saying you're a modern media company mean, it seems to me a lot of your revenue comes from elsewhere, maybe not >> right so you know, i'm always concerned about businesses that make a very big strategic shift. maybe that's great maybe that's the right thing to

do and it introduces another element of risk? he underscoresthis race for content. it underscores the fact that there are many more players within the same space. is this, in part, perhaps why netflix is down about 11% since it reportedearnings? >> the competition is catching up to netflix, finally i would submit no. clearly there is competition and the last quarter is more a function of the fact that they said internally they've had accounting problems in terms of how they're looking at their metrics and you give them a pass it's going lower for a lot of different reasons and it trades back down to the april level which is 305, but i'll say this. they're a modern media company and should they still have the same dividend yield that they have now if they're -- i don't know i'm just throwing it out there >> i think karen's point is exactly right on, spot on, that there there's integration risk and that's why it is trading at the multiples and given the dividend

that this company has. i would buy the stock for that alone. the competition doesn't bother me at all. there are multiple venues that could exist within this sort of a rhon arena. >> the market overall doesn't grow the number of hours people can spend watching tv and watching programs is finite >> agreed, but you look at prime memberships. we've done studies, people that have prime memberships are more apt to have a netflix membership and there is a reason for that because it's not >> i think your point, mel is exactly why netflix is priced way too high there's no way it can grow into that valuation and look at hbo, the vehicle that could look a lot like netflix time warner is very well positioned >> well, i mean, the issue here is, guy, i know you spend, what? ten hours a day watching tv. if you divide that up. >> little rascal >> someone will lose at the margins. >> someone will lose >> who has such a -- i'm with

david, although i think netflix trades and who has such a ridiculous head start? i think it's netflix netflix shot themselves in the foot this past quarter and i think they're paying the price i don't think -- >> they're not getting paid on active -- it's not like an active user model and it's a subscription-base model. >> i was through netflix and what everybody wants to watch on saturday night for a movie and i've got to tell you, they've got a netflix on content, some of it good and most to me is totally vacuous. think about what time warner has. the questionable app that's extraordinary and that to me is the best out here. >> the competition is threatening. they're not here yet i think it was just the valuation on netflix that was off. >> coming up, pot stocks are burning up and one that can light the whole space on fire and maybe give us another hot. >> i'm melissa lee you're watching "fast money" on

cnbc, first in business worldwide and here's what cells coming up on fast. >> be very, very quiet i'm hunting. >> yield, the crash in bond, a number of stocks are reporting some pretty big dividend, but traders will tell you which onesones they're buying when that go yield hunting. >> one small step for coin and one giant leap for all cryptocurrencies. >> this one is flashing through 8k and crypto baller b.k. says a wjor obstacle is ahead. heill explain when "fast money" returns why did i want a crest 3d white smile?

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...for a whiter smile... that will win them over. crest. healthy, beautiful smiles for life. >> welcome back to "fast money," the bitcoin bulls are back and they're breaking $8,000 and near the levels before the thanksgiving holiday surge, and the fateful week when it seemed like everyone was buying into the bitcoin hype bob hipisani is at the new york stock exchange to break did all down hi, bob.

>> hi, melissa the bitcoin rally continues. it's up 6% today passing $8,000 for the first time in two months and trading volume in bitcoin futures at the cme hit a record high today the reason well, there's been plenty of speculation that the bitcoin etf might be approved by the sec and at the end of june it's has been getting a lot of attention and many are hopeful that the sec might approve it at the end of a 45-day comment period and that would be at the end of august. but approval so soon, at least in my opinion, it's very unlikely here's the issue today the sec delayed a decision on five other etfs this hundred been filed by the nyse back in january and the sec said they needed more time to study the proposals and approve and disapprove of it and this is likely going to be the story with other bitcoin etfs and the sec will seek a longer comment period you know back in january, the sec sent a letter to the etf

industry asking 31 questions that would need to be answered before the bitcoin etf several bitcoin etfs have been refiled recently to answer some of these questions including the proposal and my bet is that today's delay by the sec indicates that the sec is still not satisfied with the answers and they'll continue to delay approval meantime there,'s a new entry for the bitcoin etf race and the active management filed a registration statement for a publicly offered cryptocurrency etf. it will not just track bitcoin and it will track the path way of the ten largest cryptos and this is the first application for an index bitcoin etf my bet, a bitcoin etf may come eventually, but not imminent back to you, melissa. >> thank you >> bob pisani at the nyse. >> our very own crypto baller says there is one more key

hurdle. >> brian kelly joins us to tell us what that is. >> hi, melissa so, yeah, these are the hurdles that bitcoin has to get to so this to me feels like a very real rally and it feels like we're in the beginning stages of another bull market. that's my view on it however, we've had a tremendous run-up because of the etf that bob just talked about and it's all been in bitcoin. the hurdle that bitcoin has to get through is one of the etfs is either rejected and the ftc asked people to withdraw the application and some people in the market are under the impression that you can have this etf come in august. i would be very cautious making that bet, tleek after the run. now what's interesting remember last year when we had the etf, the etf was rejected and it actually boosted off coin so we've seen bitcoin outperform coins like a theer yum and coins like rippel and that type of thing have been flat because the money's been flowing to bitcoin.

so this could mean that off coin, if the etf is delayed, you could see money flow out of bitcoin and into the others. let's take a look at the performance here and let me hit clear so we don't have the lines and this is how tightly correlated they are here and all of a sudden this month, bitcoin really starts to outperform and that's all etf performance >> so if you're looking at it today and you're saying, hey, i want to get into bitcoin i would be cautious getting into it at these levels if you're betting on an etf coming out any time soon. >> i think b.k. should come over it would be kind of awkward if he didn't. every day he's been here at the desk >> let's do it awkwardness -- we're not ash trade of awkward >> we're comfortable with awkward. >> bitcoin and the rest of the coins and is it perhaps because people are getting ready to reload on the other coins and you have to transfer money from fiat into bitcoin in order to

buy the alt coin >> that can be part of it and you will see the initial part is you get bitcoin or, theer yum a ethereum and you transfer and buy the off coin this has caught a lot of steam and that's what got people into it, but no question. you can see the money rotate back >> isn't ethereum the catch-up wouldn't it need a lot of the ic i icos to come to from yuition >> i don't think it needs a lot to come to fruition. as long as the -- the glue one that was built on top of ethereum that's been proven to be pretty well and that's enough to get ethereum going >> when you talk about bitcoin etf, is that going to be using primarily a retail product and how much retail money do you need to move bitcoin which is now 130 some-odd billion

>> the van eck product is under $200,000 a share specifically to weed out a retail client i think maybe q1, but 2019 we could have an etf and specifically how much you need to move bitcoin right now, it doesn't take as much as it did in january and february, even though liquidity is great, you can move it around quite a bit >> j.p. morgan did an estimate back when bitcoin back in november when bitcoin went from 8,000 to 20,000 and that was $6 billion that came in and it moved it that much so it wouldn't take too much and 6 billion is a lot to me >> when you say about weeding out the retail investor, why would you do that? i get that we want institutional players and i get van eck with a lot of institutional products and they're large enough for institutions to trade them. >> yeah. isn't this really about getting anyone easy access and

simplifying the process? >> agree i can't speak for van eck, but my understanding is the sec put out this list of things you need to accomplish and they wanted to protect the investments and let's make the share price so high, it's prohibitively high for retail investors >> this would be a very easy way for them to get in because you solve the custodial issue. they can outsource that to whatever etf company. >> that's right. the custodial issue is still there. >> that's the hurdle, yeah >> but that's also a hurdle people are betting that the etf is coming, like, soon, i think it's unlikely because there isn't a really good custodial solution maybe q4 this year >> thank you >> my pleasure. >> brian kelly, our crypt o baller. >> i can't ask brian a question, but if we were playing the game with brian, trade it or fade it with the top of the show. >> with what

>> bitcoin >> he would probably say fade it >> why don't we buy it already >> oh, there he is >> he's back >> imagine that. i did sell bitcoin today i'm a trader in this and it's not necessarily a reflection of what i think about bitcoin in the long run >> you faded it. >> very nice he can play the game >> i love that >> welcome back, b.k.. >> nice to see you >> thank you very much, brian kelly. >> still ahead, pot stocks are on a bad trip. the group getting absolutely smoked in the last month and our resident cannabis king says there's one name that's about to light up and he'll tell us what that is. plus interest rate-sensitive stocks with the ten-year suggesting the yield where should you turn for extra income the treasurers wl ilgo yield hunting, another great game, when "fast money" returns.

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welcome back to "fast money," rates on the rise, they're don is in the newsroom with details >> interest rates had been stuck in a rut with just about no volatility for the last few weeks and that is until yesterday when speculation about the bank of japan possibly changing its strategy on monetary policy sending treasurys falling and rates shooting higher. as those rates have been generally forecast to head higher, we took a look at the s&p 500 index and found the highest yielding stocks there.

are these names that are at all attractive to traders on the hunt for yield there are currently around 13 stocks in the s&p that have dividend yields north of 5%. some are in traditionally yield-rich sectors like real estate investment trust with a vent as. and how about a couple of consumer discretionary stocks that have hit harder times of late and they have ford, and l brands and ford has a yield of 5.7% and l brands has a 7.7% yield. the yield hunt, a tricky game and what is that balance between price depreciation and the safety of the current dividend and interest rates on savings accounts and certificates of deposits are on the rise according to bank rate.com you can fooind a one-year cd, and ac yielding 12% there may be some risk-adjusted competition for yielding stocks.

back to you. >> don chu in the newsroom given the numbers we thought this would be a great time to play -- >> another game. >> yes yield hunting. this -- if you can believe is one of our more controversial games on the desk and i know our viewers at home are smart and they can follow along. >> let's take l brand, for example. a 7% dividend yield and if the traders like it, they will say bull's-eye you see and you hear this. if they do not like it, they will say -- let it go. you'll see and hear this >> makes sense >> okay. it's time to go hunting and karen, we will start off with you and we'll play this game properly, and the dividend yield of 7%. >> bull's-eye, i don't want love things because of the dividend yield and this one i think is so cheap, if anything, i think they can amp that down if they wanted

to keep the dividend yield bull's-eye, that was perfectly played. >> i'm going to try to do the same bull's-eye, we think this company's gotten too cheap bath and body works is doing quite well i think the discretionary play, and i think the stock's making a turn and earnings in about a month and it will be worth paying it off. >> david, what do you say? >> i would buy ford. >> whatever, bull's-eye! bull's-eye >> amazing >> have you not been listening to any of us >> the stocks with the dividend and it follows gm's playbook and they can get the third-party investments that can spook this up and this is a name worth buying, and i would be a buyer of ford. >> guy adami >> ford? >> bull's-eye on. >> bull's-eye or -- >> let it go >> let it go

fly the duck, i don't know why let it go. ford hasn't rallied and the last six years -- and the market goes straight up and auto sales through the roof and ford can't get out of the own way you explain that to me shoot the duck, lose the bull's-eye and move on >> let it go >> you don't shoot anything. you're letting it go >> what do you mean? >> it's a good thing -- >> we need to be intuitive >> moving on >> aventas 5% dividend yield. >> these guys were in the healthcare field and preventative well and the allocation is very, very good and this is not my type of investment and i don't buy things for yield and i'm going to let this one fly. whatever >> it's very close and we understand what you're saying, and guy, we'll go back to you. down to the bank and putting your money in a one-year cd at a rate of 2.5%.

>> a one-year cd. >> have you ever seen the movie "run silent". >> bull's-eye on that one. go bull's-eye on that one. free money one year, 2.5% and for one whole year you'll lock your money up for 2.5%? >> what's the ten year now 3% >> better 2.5. >> but that's two more times this year and you buy a ten-year note and you have an environment where we'll slow down the economy. >> he's letting it go. >> i'm just telling you why? >> you can do 2.5% and maybe that's telling you something about equities >> that's not the game. >> bull's-eye! >> back to you >> coming up, the payment stock and this one is up more than 50% in the last year just with the all-time high today and some of the traders think it can go higher when it reports earnings

this week. can you guess what that is plus, tim's hitting the grass. i mean, field, warming up one stock that's about to go higher. will the other traders give it a try? find out when he delivers the fast pitch chor"ft ne sllmu me asmoy"ti ahead. i'm carl and i'm a broker. do you 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? ask your 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.

welcome back to "fast mon money. the pot stocks have been taking a big hit. let's go to aditi roy to see

what could be behind the burnout. >> a number of big cannabis names are coming down from highs adding another pun there it's been a pretty tough month for them companies taking a hit include emerald health therapeutic some 35% over the past month aurora cannabis down 28% canopy growth down 24% and cronos group is down 14% many of the canadian-based companies saw a rise in shares and it all happened in the run-up to the legalization of recreational marijuana in canada last month analysts say part of the reason for this decline this month is that shares rose so much leading up to the canadian senate vote, they needed to come back down to more reasonable prices and reality has also set in. regulators in canada are coming out with more information. provinces are also making decisions on which companies will be approved to sell their recreational products and which companies will not be allowed.

that's deflated some of the momentum some analysts say the move isn't all that bad for marijuana companies and in fact, gmp securities says sometimes a pullback is healthy because it brings investors back into the space. they predict pot stocks will light up again as we get closer to the october 17th date and that's the date that recreational marijuana will become legal in canada back to you. >> aditi, thanks aditi roy in san francisco who else do we turn to other than our own cannabis king tim seymour here and there's another pot stock that's about to get high. >> one of the things that aditi brought is up that the entire sector has had a major pullback. >> the fact is that canada went to legal rep i want to talk to you about kill rate and massive week in the cannabis space ask we had the largest and the full -- new money raise in the u.s. market that's a big deal, and that's why you want to think about this

company and who is behind this company and the private equity funds thattee clearly has helped positioning companies as one of the ways to play it and they'll continue to mri a part of every conduit. they're notting not just in canada where they had the medical license and to the eu and to africa and south america and these are all parts of the global story and these are the sector plays and one of the things that people are upset about with the entire sector is it's too ahead of itself even with killray in the dose of 72 hours you've seen what happened with this ipo you ipo adat 17, you could have brought it and you have to be careful, phone, and what i want to stress -- it's expected to some other names we eighted in

the company as is kill ray it's about where's their production and there are guys in the space that are probably cheaper, but i think this say long-term play in the sector >> guy >> that was my question to tim would valuation be a concern here obviously, it ipoed at 17 and it had the run-up do we retest the ipo price >> think you could, and i want to be really clear that the way investors need to play the sector right now is wait for those companies to have take for play contract and they have guaranteed money and they don't have to bank on growth if we de if we test that level again and i think it's worth talking about that company -- >> are you buying tim -- i'm passing that one i'm very intrigued by the space though >> steve >> i can say i'm restricted from

talking about this stock we did deal. cowan, enough said that's it. that's my answer in a nutshell. >> more self-serving there the noon my right. the reason they matched up the dusty springfield song is upsetting to me, but -- ♪ ♪ >> i think we re-test the ipo price at 17. i think tim seymour makes a compelling argument, but i think we re-test that price. >> i don't know how to categorize these >> deny it all ride the desk, they're not buying it, basically. are you at home hitting this pitch's for yilray vote on cnbc >> jim is talking about why the high-flying stocks could be in value right now. we are live at the nasdaq marketsite in new york city. more "fast money kwot" right af this we all want to know about the new thing.

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want to test drive the latest devices? be our guest. want to save on mobile? just ask. want to demo the latest innovations and technology? do it here. come see how we're making things simple, easy and awesome. plus, come in today and ask about xfinity mobile. a new kind of wireless network designed to save you money. visit your local xfinity store today. welcome back to "fast money. it's time to play stock jeopardy the answer is this stock is breaking out here are the clues it has a market cap of $105 billion. in the past year it surged 56% it hit a fresh all-time high today. so do you know what it is? ♪ >> time's up what is paypal shares of the payment company have been on a tear this year now up 24% since january, this while the rest of the payment space has also been on fire with

the stock gearing up to report earnings tomorrow. there is one trader betting this hot stock is about to cool off mike ko is in san francisco with all of the details >> hi there, yeah. paypal which averages a move of 4.25% is implying a slightly larger move than, that about 5% this time around and we saw a very large trade today on three times the options average volume and someone paid $6,000, weekly 91. 88 put but tterfly and that would be 3.2% from where it was currently trading and not as bad as what the market was implying and certainly a move that would be to the down side. >> anybody like paypal and it's now at a place where it's challenging and they've moved to a new model and there's no question these guys were in the right space. >> like paypal and this is something you want to own. i think they have visually no debt, this company and on this

is a company that's taken share away trt likes of these and other pages. >> would you rather? >> i love this game. okay square or paypal >> arsquare -- square the last move was paypal and three quarters ago it was up 3% and maybe mike ko who is on options action every friday at 5:30 is on to something. >> nice there. mike, thanks mike ko in san francisco and as guy mentioned options action is on fridays at 5:30 p.m. eastern time up next, final trade 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

>> former first lady nancy reagan famously said just say no and apparently the message stuck, and listening to toni broo braxton. it was almost celine dion time >> the explainer if anything, and i understand the valuation knocked out. >> final trade final trade. >> the report tomorrow, this is a name i feel very good about. >> karen >> if it's good enough for bull's-eye or let it fly or whatever, it's good enough for me for final trade >> i like it i think there's a comeback in the future >> that would be bull's-eye, by the way.

>> seeberg. >> money will shift into the ibbs now, i would be a buyer. >> i would trade chevron not fade, trade. >> you got it, finally >> shoot the bird? >> i'm melissa lee thankswatching be back here at 5:00 for more "fast money. "mad money" starts right now my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad. welcome to cramerica other people want the 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 at 1-800-743-cnbc or tweet me @jimcramer. if i had to sum up this market in a word, identical it extremist. we rush from one extreme to the