fast money starts right now. traders on the desk -- funding secured or not tesla ceo elon musk is out of the blue tweet from last week, but it still left wall street kraching its collective heads. >> the biggest names in the states get ready we start off with more pain and no gain. stocks attempting to rally today. the prices add fuel to the fire. now the u.s. looks to be taking a turn for the worst the dow ending its fourth day in a row lower. maybe it's not the end of the world. are we missing the beginning of the end of this rally? >> one of the things we talked about last week, the market,

what are the catalysts right now other than more negative cat 4ri69s we have monday, and then friday, it was all about the turkish lera, everyone was so concerned and obviously down 50% now year to date, that's a bit easy to be concerned. where are the catalysts right now? also when you're looking at the ten-year right now you look at the financials struggling, you look at energy, oil pulling back, it's hard to find the leadership role we need right now. i think there's going to be creative opportunities i understand why we're pulling back right now i think today there was far more selling pressure than we've seen in a while a lot of pressure. you can see that volatility had a huge spike >> is it enough for the dollar to spike >> that's all it really takes is

for the world to slow down you don't have to believe in multiple currency crisis we are starting to see some issues in argentina. all have you to have is a bit of contraction in the world and then you get some earnings declines, 'that's what people get worried about. i go back to the dollar. the higher that goes, the more risk there is out there. >> to me, watch the dixie. >> italy was all the rage of contagion and fear that very quickly passed many i believe that that will be the model for turkey as well i don't know how it will end up, i don't think that's going to be the catalyst, to me, we've been through earnings a lot there's this sort of collective -- i don't know, cognitive dissidence about the trade policy, how that all ends

up it's the most important thing. i think investors believe, and i believe we're going to come up with some sort of solution to the trade wars i don't think we'll edgeder a trade war. >> that to me is the biggest concern, though. it's starting to reflect a little more fear maybe it's turkey fear, but i think that's misguided p.m. >> i agree, trade is the most important theme right now in the market which direction we're going to roll we're going to get by it, i think we've been through this, lack of real either positive or negative cat list in the near term is a positive for the market the fear of missing out tried is right around the corner. we came off a tremendous earnings season, i looked at 25% as far as earnings growth, the setups for a lot of these trades, they're still very positive i'm a buyer on any pull back

whatsoever, on this tape on turkey, the biggest risk right now, if i look at it and say, the dollar well bid into a fed hiking >> why wouldn't the dollar stay well >> say the greats -- >> the trade war. >> everything is -- >> why would the dollar go higher >> if you're worried about the dollar -- >> give some sort of indication, they become a little more numberish. in a global way. >> if they sniff something, wouldn't that be bad for earnings >> no, it will take a couple hours to play out. absolutely, i think the fed put s it >> i think the fact that we are through the major catalyst, i expected the earnings season to be exactly what it was it wasn't just good, it was

great. they deliver overall, we're sniffing toward those lies of the year where are the cat lists, and most of the cat lists that are there right now, i've seen negative potential catalysts to push us down, because of the fact that the cycle of earnings is now past us you know what, it will take a few weeks or whatever, these next couple weeks make me -- >> you say it's a negative at this point have you outlined so many reasons why you would be cautious you're not negative? >> i think i'm not negative because the earnings were so powerful and strong. >> i look at that, what would be something that would push it down i think clearly the trade war is the next escalation, that starts to progress, that stuffs the market down, i think there are opportunities to your point. if it's in the market, i think it's well below where we are now. there's plenty of room to the down side on that. >> for me, all trade, i don't want to sell anything, though.

they have ridiculously low, here it's a little harder to buy them >> at what point do you start being concerned the dollar is going to be a head wind for the markets. >> i think on the dixie, i just -- i look at the market as risk reward. where are we in the s&p 500? we're at all time highs effectively, or within a whisper of that. why am i buying a new stock today? why wouldn't i be taking profit, when we have all of these geo political risks out there. we don't know how long the trade war is going to last or not last i don't have a lot of confidence so far based on past experience of this administration, that they'll be able to get anything done i think the trade war may go on longer than expected it doesn't seem like great risk reward >> let's go straight to our next guest. we're going to pose a question to him today's pull back could be one of your best chances to buy for the rest of the year 37.

>> why zm. >> i don't think necessarily today -- i don't want to be so arrogant as i said the last time i was on the show my near term was pretty bad, mid day, in the beginning, when you had the bounce, we're going to spike. when midday dropped. oh, my god we're going to crash. when you're that volatile, step away i think for example volatility picked up, which is an important point. all those fear factors are in there, the last time we're on, we identified the things we look for. percentage of stocks above the 10-day moving average. being below 20%. stocks below their 10-day moving average. i think we're in this kind of push/pull. there's not a catalyst to go up, we know the catalyst to go down, i'm not sure that's going to work either. just this lousy environment in the middle of august >> b.k., your question was, what is the risk reward at this point.

why do you see the reward being higher at this point in the cyc cycle. we have the s&p 500 -- the negative potentials on the horizon. more negatives than positives. >> simply because your list hasn't come true >> we come up with great reasons to make stuff up-- why to have an investment opinion. you read our research, it ultimately -- the market correlates to the direction of earnings next quote, we've had two quarters in a row of 25% earnings growth. the next two quarters are likely to be 25% earnings growth. you are 19 times to 22 earnings -- you're 19 to 20 times in the two quarters after the tax cut. if you get another 20% plus quarters, your cat list is the stocks have become a lot cheaper without a major change in the interest rate environment or the inflation environment. >> so there are boaster children

of the trade war and there are poster children of this crisis in turkey, being the banks. would you buy banks? even the u.s. banks are a limited exposure to turkey >> let's take the worst case scenario everyone mentioned today. i wish people would go back and look at what happened. it got way worse, the market didn't peek until -- and really correct until october. it was a four-day 10% drop, and then it went on to new highs in december if it's my disasterville, i get it, it's not great, like i said, we're going to have a little more correction. you're nowhere near like we were back then at least so far. risks can happen fast. what we look at, the credit swap market for the biggest banks in europe there's the index that are the 30 top investment grade in europe, if europe is ground zero for if turkey is going to have a

contagion, we're not even back up to the peak where we were a couple months ago. we're way below where we were in the bottom of 2016, and we're not even within earshot of where we were in 2011, 2012. a little bit of euphoria was up again. and you needed an excuse for what we talked about a couple weeks ago. i thought it was going to be the chinese currency, turned out to be the turkish currency. >> the next two quarters, let's call it 20, 25%. >> what gives the confidence that that estimate will stand when we have trade war, we have currency crisis, we have a lot of different things that appear to be negative catalysts, why are you confident that the future is going to look like the past >> we've had anticipation of the tariffs and trade wars since the beginning of this year the first quarter was supposed to be 18% earnings growth. came in at 26. this quarter, the second quarter was supposed to be 20.4, it's

almost 25. you have these surprises because the tax cuts and the better regulatory environment is spurring capital spending this is the biggest deal, we've been waiting for the second half of the cycle, you need capital spending to improve productivity when inflation is hitting you at the corporate level many if you can't hire anybody else, and your costs are going up, what are you going to do? you have to increase productivity we're in that part another thing is on lenneding. there's a great article today in the journal, about how shadow banking is replacing bank lending. now that major regional institutions have lost their sify designation and can use some capital at the fed, you think they may try to get some of that market share back? lending standards have gotten easier, not tighter, right when companies need the capital to invest, to improve their productivity, we're focused on the negative i get it, i really believe like

i said a few times on the show we're in a period where i have no idea. i have no near term feel, because you're in no man's land technically. fundamentally we're in a terrific spot with credit, with earnings and with direction -- >> case, tony, thanks. >> did tony convince you >> he convinced me something -- and i feel already right now, which is that we're in no man's land, and that's why i feel like there's more catalysts that can push us down a little further. whether or not i think -- i saw his list, it was financials, technology and industrials i agree with the industrials, i agree with technology. i think the financials, that's really just -- lit ramally tied to the tenure, if the ten year goes up, i think the financials are going to start to move up to the up side and hit new highs. if they don't, if we don't see that move. >> if they're down today like

they are on turkey or contagion that would be the opportunity to buy -- are they not down enough? >> i don't think they're down enough i would like to see them get hit a little harder. >> what did you do today >> opportunity netflix, i think today was an opportunity with the resignation of their cfo he's not as important as reid hastings and their chief of design there i look at it, netflix -- financials are there at the point where i continue to add financials and biotech. >> i think there was an opportunity to be cautious i think there's an opportunity to take some profit. >> i mean, let's -- we're at all time highs again, why wouldn't you take a little bit off the table at this point. the one thing i would say about the financials, we're all worried about the banks and that congress takenen, i bet you, we're not going to have a banking crisis all the fire trucks are parked outside the bank, and we're all waiting for that next fire, i

bet there's a small chance that happens. watch the insurers, though, they trade terrible who's reaching for yield your insurance companies coming up, the courtesy crisis in turkey, should be a catalyst for bit coin, unlike the past it's failing to rally elon musk attempting to clarify his tweet about going private. did he do more damage? one beaten down stock is about to break out we'rlie ve from time square in new york city much more fast money right after this ticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy to get to your golf destination. with just a few clicks or a phone call we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money.

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dj fluffernutter, hit it! ♪ dj fluffernutter simple. easy. awesome. ask how to get $300 back when you sign up for xfinity mobile, and purchase a new samsung phone. visit your local xfinity store today. welcome back to "fast money. funding secured and now funding explained. our phil lebeau is live in chicago with more on that story. some dispute the whole notion of going into detail here there were details, but it wasn't clear that funding was secured at the end >> the skeptics will say at the end of the day, there's no offer sheet opinion there are no details, there was no formal plan that was introduced all of this has to do with a

series of meetings between elan musk and the director of the saudi sovereign funds. the most recent of those happening on july 31st he explained tesla has been approached several times by the saudi sovereign fund elon musk writes, i left the july 31st meeting, with no question that a deal could be closed and that it was just a matter of getting the process moving, this is why i referred to funding secured in the august 7th announcement that wasn't an announcement, it was a tweet on twitter in which he said funding secured $420 being the price tag. if you were to factor that out, that would be a premium to tesla's current share price. getting a valuation of the company at about $70 billion if you bought everybody out, most of the people in his

estimation will stick with tesla. it wouldn't cost $70 billion for him to take the company private. one other -- whether he was acting as ceo of tesla, some fiduciary responsibility for the company. he writes, to be clear, when i made the public announcement, just as with the blog post, and all other discussions i have had on this topic, i am speaking for myself as a potential bidder for tesla. he does not write he's speaking as ceo of the company or on behalf of the board? it's an interesting explanation that was sent out today. i know there are people weighing in on social media saying, this isn't a detailed offer this is not funding secured as people would expect it to be it is an explanation, at least the beginning of the explanation from elon musk and tesla >> seems like he's splitting hairs.

he's always speaking as the head of the company the thing about this twitter account in particular, he has always used it as a vehicle speaking as the head of a company. for him to say, i'm going to tweet this, with my twitter handle, which i've used to discuss production targets, et cetera and then all of a sudden i'm not ceo of the company >> that's what many people are saying elon musk will say, that's how i approached this, and when i said funding secured, read between the lines here, i got the impression this was likely going to be a done deal if we wanted it to be a done deal didn't say there was a handshake agreement, it was an explanation behind his thought process, after having a meeting with the sovereign fund >> phil thanks karen, what do you make of this blog post. >> i don't know where to begin

>> it's cyaish if you have ask me >> let's give him, i'm not acting as ceo. then he's a 13-d holder. he needs to amend his 13-d a couple, maybe it was the summer, someone will be able to tell me exactly, he said zero chance that we will not meet production targets maybe it's a matter of semantics, he thinks zero chance means something different than what other people may be thinking funding secured. secured doesn't mean what other people think it means, it means imagined or con ttemplated or something like that. this is absurd, so when he says no question it could be closed, it's just a matter of getting the process moving that's ridiculous. >> right >> details, interest rate, how much, what -- i mean, what kind of security they would -- all that -- it's ridiculous that this is supposed to be him

showing more detail about the funding. it's giving the best spin possible on funding secured. >> it's ridiculous that that is the best spin possible >> however, all that aside, there's another question can he get a deal done >> maybe maybe he can get a deal done, i don't know >> saying he'sspoken to two thirds of investors or believes that two thirds. i don't know if two thirds of the investors can possibly role into a private vehicle i don't know if the shareholder base will allow that to happen let's put that aside all of that together, i mean, there's no way this is it an adequate disclosure, and just now, just last week you're getting council, this is ridiculous >> zs closure is after his lawyers comb through it with a fine tooth comb, to make sure they put out a press release or something by him, that they believe to be the most adequate, and it comes off and falls

short. it's too fishy, and i agree, when you're representing a company, as a ceo of a company like this, you have an obligation, whether it's your personal twitter handle or the company's twitter handle you're putting out tweets, and people recognize it's on behalf of the company >> to believe that two thirds of the investor base will be able to, willing to, or want to roll into a private deal. that's a big assumption. >> it's gigantic. >> it's the cornerstone of how much funding they would actually need >> if you don't know that as fact >> the whole thing's insane. >> the other question is, can he get this done? >> that's separate >> that's a separate issue oddly. >> that's a separate issue >> it has nothing to do with the tweet, really. >> what do the options market say about a deal getting done at this point >> you go out in the distance and see a lot of volatilities coming out of the oepgss

>> there's i little bit of possibility. >> people believe there is a possibility. >> i believe it enough that i put on a call spread out there in the future, because i -- as crazy as it is, i don't agree with the delivery, the announcement or tweet. i still think there's something there, and i don't put it past elon musk, if he's been in talks for two years with the sovereign fund i mean, it's a possibility and the fact that it's even a possibility, i don't mind having a call spread out there, because -- >> which was relatively cheap. >> i'm going out on the distance whenever you buy time it's going to cost you some money >> i think that's the only way to play it, right? >> your upside is capped at 420. you have to use some kind of leverage, whether it be call spread or something like that. that's the only way to play it the down side is, this is some kind of violation, and elon musk is no longer your ceo. that's a massive problem for tesla.

the currency crisis should give tesla a boost here's what else is coming up on fast 37. >> get in, loser, we're going shopping retail stocks are feeling the love the chart master says, the ragingrally may be coming to a screeching halt. plus, pete nagerian has been hitting out of the park. he's stepping up to e thbelate with one beaten down name that's going to heat up

welcome back to fast money, retail stocks have been on fire, the group could be facing one of its biggest tests yet. let's get to headquarters for all the details. hey, don. >> melissa, the waning weeks of earnings season pretty much means retail, and we're relatively heavy on that industry this week 13 companies are slated to report including the likes of

home depot and tapestry. macy's is on wednesday, wam mart, nordstrom and jcpenney are on thursday. technically walmart is a consumer staples stock the discretionary schedule, the second best performer next to who else >> some of the tip top performers a slate of more traditional retail names is grabbing attention like best buy up around 13% or target when you want to look at the big box side of things. ralph lauren up around 32% macy's has gained a whopping 60%. there has been upside momentum for many index members of the 80 stocks in this discretionary sector, around a quarter of them

are around 5% of their 52 week highs. many parts of the sector were hated, remember, around this same time last year, after a pretty sharp rally, is there enough fuel left in the tank for potentially more upside? we'll get some ideas -- >> thank you our next guest says the retail rally is looking a kbit stretched. >> well, it's been a great run, the issue is where retail is now, in relation to where it's been, so here's a great etf, i try to look at it every day, would i say it's a good thing for everyone to do you see here, it's 89 stocks, consider this. 2.2 trillion and almost 10% of the s&p, the best part is, it's a smattering of names, target, amazon's in there for instance ralph lauren, best buy and the names go on and on and on.

foot locker, you can see them here it's an equal weight etf for the most part, and it captures a broad swath from kroger, costco and so forth here is the chart. to my eye, what we've had is an impressive rally, that rally, if you were to look at it, leaves us back at a former top. and one of the things about this kind of thing is that you often after reaching a former high, you contend with it, ultimately you can break out, on the first approach of a past high. if we were to put in the trim line, and you were to make the bet that that trend line would go like that, what i'm betting is, this double top takes us back to trend. you don't set up for a breakout in principle when you first approach the former high

let's move on. so two stocks, one i like, one i don't like we'll see how they go, they both have numbers coming up to my eye, this setup is the following, well defined tops higher lows, and working into the prospective breakout juncture look at this, not at 52 week highs, if i were to put in the lines, all it is is a rally back to the top, from which it's failed, failed, failed, i'm going to make the bet again. children's pace on the short side >> carter comes over. >> does retail correlate to -- >> it's the second best

performing sector. the equal weight sector is only up 4 1/2 that's a big spread. 4 1/2. >> that's an don driven? >> xrt is equal weighted that's the point of that particular etf it gives you a broad swath without the skewing associated with amazon. retail in general has been great, but it's not any better than the market if you look under the hood >> right karen, do you have a question? you have been or played in children's place >> yes, i have in the past, but i haven't now. do you -- so you have department stores. >> yeah, macy's -- >> do you look at them as sort of a mono lidge or did you differentiate between -- >> macy's is right now better than jcpenney. >> nordstrom's, dillards, macy's >> the idea is to try to get it

right fundamentally, technically one stop at a time and then make inning for instances about groups, about retail or peril. just as a good analyst does bottom's up, it's the same chart. try to see what the story tells. >> carter, you mentioned that you liked nordstrom. i look at all these charts, they almost all look the same >> different than children's place, no? >> different than children's place, but i'm curious why nordstroms is it nordstroms versus children's place why nordstroms in the retail >> i wanted to focus on stocks in earnings this coming week >> the principle is before you can skied a high, you back and fill when you get there, it's like doing your last chinup nordstrom's has been consolidating well at the 52 week high. versus the srt which has made a quick stretch to the high. >> i like the brick and mortars, they've had an incredible move

gun to hid, everyone thinks this quarter is going to be a strong quarter. i think it probably will is it enough to carry it through? you separate out those brick and mortar players, do the brands look stronger? that may be a little to karen's point. >> some, but it's case by case the clients that cover this fundamentally, that are either dollar neutral almost the same as q 3 and impossible for q4. >> for more on retail's moment of truth, check out which stocks could be the big winners this week coming up on fast, he's warming up to pitch one stock that's poised for a turnaround

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welcome back to fast money, time for an instant replay two months ago, pete said it was time to bit on microsoft. >> the vision that he had as he took over as the ceo of this company was absolutely magnificent. and they have executed to perfection they seem to be clicking in all different facets of what they're doing in their business right now. i love this company, i think it's a $120 stock, not that far away >> the stock isn't quite at 120, it is it a good call

pete mentioned he just sold 30% of his stake in microsoft. >> it doesn't worry me >> you are the guy who tracks -- >> ilook at the amount of stoc this guy's got, and the move they've had since they took over, i think it makes sense to have diversification heidi sold a percentage of maybe 50 or more he said he's taking it off for personal reasons, i tend to believe him, i don't know what he plans to spend it on. >> some nice -- >> we welcome in the crypto world. >> give us another home run. >> we talked about the fact that it hasn't traded very well recently ea, electronic arts, you start

always, you look at this management team, the top dog right now at this company has been here since 2004, came over and took over in 2010 as the ceo. came from china, i love where he's coming from, you look at 2014, the acceleration of what's happened with this company has been incredible to the upset established franchises, they got that they have a deal right now with disney when you look at all the different elements that go into ea going-forward as a publisher. there's a lot of reasons to be excited. everyone focuses on mobil. it's going on all the different platforms. now, you look at the pe right now, you look at this and say, wow! trade's at a 40 plus it trades closer to a 26 they're going to earn $5 a share next year, so you look at the earnings gloej, earnings growth free cashflow growth, margin growth on multiple different ends of margin, i think this is

the company that shows a lot of growth oh, by the way, in the last 10 days, we have seen nothing but call buyers coming into here in different months, they've been coming in buying the 135 to the 155s, most of that out in january. you look at these size of trades, someone is positioning for this stock to go higher. >> competition from fortnite, how much are you worried about that competition has been the overriding theme in the sector how worried are you about fortnite eroding -- >> i like the pipeline these guys got right now i'm not worried about that, there are great players in this industry, and there's going to be competition out there, there's no reason not to like this company, because somebody else has a great product so i like electronic arts, i talk about the pipeline, i tell you what, i think what they've got there actually does move the

stock, it may take a little bit of time, this isn't going to be moving as fast as microsoft. >> no more questions, time to vote >> are you buying pete's pitch on electronic arts >> yeah. very clever. >> i like it, pete. >> i agree with you. >> i'm a buyer as well i'm buying this pitch. i do believe there's competition, i think ea can survive and continue to move higher. >> yeah, i'm a buyer too i'm with pete on this one. >> i think disney should buy these guys >> it's a grand slam here on the desk vote in our twitter poll at cnbcfastmoney. the crisis in turkey should have sent bit coin soaring the crypto currency is stuck 600,0 top strat grists will explain why that is.

welcome back to fast money you'd expect bit coin to ramally on all this currency volatility, right? bob will tell us whether bit coin is a currency safe haven. >> one of the big ideas behind bit coin, people who can't rely on their currencies will flock to it as a hedge we saw this in 2013, that's when bit coin trading and prices surged, that's a famous example. we have a real genuine currency crisis here.

there's been no bit coin rally bit coin's been dropping for a couple weeks, despite seeing a real route in many global currencies, i'm not just talking about the turkish lyra the russian rubel, they've all dropped against the dollar recently, there's been no big rally in bit coin. the ung verse of people who would want access to bit coin is fairly small, those who wanted it already wanted it let's face it too, the first impulse in crisis for a woman may be to buy the dollar or buy physical goods it's not -- a lot of people who don't have bit coin -- the big declines in bit coin has shown everyone it's not necessarily a hedge against anything it can go down just like everyone else. too much or too little regulation, fraud, theft, whatever look at volumes of bit coin

trading in turkey. they've increased. it's been noted if someone had bought turkey in the beginning of the year, they would have lost even more the lyra is down 45% against the dollar, that's the top line, bit coin is down 57% this year finally, one positive note about this, i would note that while bit coin is not rallying, it's not dropping as much against its competitors. bit coin was down 2% in a sense, melissa, it is outperforming against its peers, at least you have one positive note here. >> you found it, bob, thanks i feel like the stools to the bull case. the legs to the stool bull case slowly getting knocked out >> in terms of this store value. down 57% that's not a great store -- >> i was surprised they didn't

move on the lera, there is a de facto currency control going on. all you can get is lira in turkey right now agreed, down 57% is not a store value, i think you have to look at this as an emerging technology and understand this thing is extremely volatile and we're very early in it >> for more on this, coin share's chief strategy officer ashley spent some of her childhood growing up in turkey great to have you with us. >> why do you think that bit coin has not been viewed as any kind of a store value. >> the narrative around bit coin is still really hard to grasp. and i think the crypto community is struggling where the narrative right now. if we look at what institutional investors are looking for -- the

price. and price is an imperfect metric >> what does utilization look like >> that's the struggle for crypto right now >> if we change bit coin out -- >> you said the narrative is unclear right now. why would i want to be in that stock, why would i want to buy it >> why would i want to buy bit coin if the narrative is so hard to pin down. >> let's go back to the analogy everyone uses, it's an analogy that makes sense it's 1999 and the internet stocks >> if we look at amazon, amazon at its peak, it took nine years to recover from peak trough back to peak. you had to recover your value. if we look at intel, 15 years. microsoft 17 years new technologies, take a long time to understand and i think what we saw in crypto is this massive runup,

where everyone got fear of missing out. what it caused is a speculative bubble, and we talked about bubbles and capital formation a lot. all of that is getting deployed into building real businesses that serve a real purpose. it's a story that's going to take some time, we're experimenting with that narrative, we're starting to see real traction. a lot of it is defining the data points i don't think this is new. any time there's new technology we're trying to understand and bring into the market. it's a question of finding the right data points, getting that message out there, and telling that growth story to investors who are looking for value and growth >> what are some of those metrics, louch is traded, if you don't like price, you don't want to focus on that what are some of the other metrics to look at >> metrics that are common, and i compare this to early stage investing. two analogies might be the addressable market if bit coin is a store value,

the total addressable market is huge you have m-1, m-2 potentially. how much of that market have we captured maybe the total addressable market is the market for compute capacity, right? >> there are a lot of different analogs. the second we could look at is users, right what are the numbers people who are actually using these assets on a day to day basis or month to month basic from speculation to specific utility. that i think again, a lot of this technology is immature, the apps are clunky, we're not seeing those numbers today >> what about atheerian. maybe some people puking out on this if there's going to be use cases, something like a smart contract platform seems to me that should have more value maybe than something like a currency where do you stand on atherium

>> it's an asset that's interesting to look at what's interesting is, earlier today i was looking at itp if you bought them today, you're at break even i think what's going on here, is etherium started with being a decentralized computer it shifted over to smart contract contracts then it basement a substrate for people to raise money with what we're seeing now is a lot of these ico cap stahls have raised bit coin. when the price is at 1200, everyone is feeling very good, they had a long capital runway now the price is at 300, people aren't feeling so great. i've been focused on treasury management for crypto firms. if the narrative is, it's going to take 5, 9, 15, 17 years, some

of the large internet stocks for these things to start to grow and capture, let's make sure these projects have capital. that's what our ecosystem is struggling with. how do we allocate into other assets that show value long term >> thanks for joining us quickly here, we were talking about internet stocks. there's an opportunity cost of locking up capital for any asset in any amountof time if we are to believe that, it's a 5 rks 9, 10, 12 year time horizon, do you put a dollar in right now? >> i do. the reason why is you've got the utilization, the investment side of it with the hedge funds the ability for wall street money to come into this trade. i look at the meetings that we have -- we're meeting with a ton of hedge funds right now that are interested in diving into this space and investing in this space. but they don't have the custody solutions that war ability it

for them once that money comes in, that's where you get the lift off coming up, check out shares of twitter bucking the trend after a tweet. we have all the details. let's take a look at the kramer cam the madman is talking about the brinks stock it's turning into a way to play the growing marijuana industry stick around, we have much more fast 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, & he's got wide feet.

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twitter has had a level of relevancy than never before about execution on all fronts, citron expect the new highs, target price, 52 dollars the rally on twitter is just getting started. >> already one of the busier stock options we might see twitter was the fourth busiest stock option today the busiest options were the august 33 and 34 strike calls. over 11,000 of those traded for 36 cents those are bullish bets that is going to be above 36 cents we would also mention that we saw some longer data call buying also over $4 for those 3030 strikes going further out about to january >> thanks for that, mike up next, final trades and thtwtepo rule itr llests

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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you know what pete loves listening to toni braxton "unbreak my heart." >> she's a sweet girl. final trade, underarmor, giddy up. >> giddy un.

>> tbt, i think the flight to quality will end soon. >> final trade buy macy's ahead of earnings >> brian kelly >> not always comfortable on the other side vehatlt. gi tt a shot >> "mad money" with jim cramer 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 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, but now educate and teach you. so call me at 1-800-743-cnbc or tweet me @jimcramer. after a day where the dow shed 125 points, s&p dipped .4%, nasdaq declined 2.5%, we need to