cycle. >> we cut it kind of short, but thank you for your thoughts. on the longest bull market in history, peter bafar and david zock and thanks to david faber thatting do it for us on "closing bell," "fast money" starts right now ♪ ♪ >> you what? america is beautiful and so is its stock market it's a day for the history books as it is now official, this is the greatest bull market run ever with no draw since 2009 and the s&p is up a whopping 300%. that means more money for pension, retirement, your pocket and of course, your online brokerage account and as we enjoy in the riches of capitalism two very important questions remain how long can this bull run last and what do you buy at these

historic highs pete najarian, what do you say >> there are three points i would like to bring up right out of the gate. we are getting very close. mike said we are going to see some sort of a pullback and when you do, you'll be able to buy that pullback because it's not going to last very long and i do tend to agree with with him, i tend to be more bullish than bearish and i still look at the news every single day and obviously at some point in time i think we can pull back and there are plenty of areas in the market right now and the multiples are still extremely low and i think there are opportunities everywhere and if you went to the 13 epps this past quarter, citi, bank of america and i'm talking about guys like david tepper and other guys that are huge investors that are still putting their money into those kind of areas and airlines are very inexpensive and we continue to see buyers there and warren

buffett sold a couple of his positions and i think the combination of that and i think you look in the pharmaceutical area right now, as well. >> that's where i've been adding most to, and i have gilead and celgene, along with merck and pfizer and some of those names the problem with that in addition to a football player, andy think a lot of the stuff that's been somewhat cheap has been cheap and stayed cheap. i think the dilemma here, and the consumer names and consumers outperformed qqqs by about a thousand basis points in the last 12 calendar months and you really outperformed there and the cheap stuff like banks and you know, stuff that frankly, i think should outperform, too, pete and the question for professors, and i know dan's got a view of this since the markets hit the turbulent moment and

they haven't shaken out the rust >> cheap is one of the economically sensitive and cyclical groups and you're talking about the banks and the xlf did not remain a new high. >> the tcm is down from its 52-week high it's all horrible. they act atrociously and let's get to emerging market we spnt a whole show yesterday talking about u.s. political stuff and we're all in agreement that that's not where the big threats are to the market right here and it's about global growth the shanghai composite is down 25%. a couple of weeks ago larry kudlow gave this presentation and he said china is a disaster. he talked about slowing growth and just their financial -- >> those are all of the things that are posing massive risks. >> the real question for you from me is tim and i talked about this time and time again, as well. year to date, you're saying

goldman sachs is terrible. bank of america and some of these name, but what is your timeframe? in other words, are we talking two to one out so you don't think that the next leg we're going to see potentially -- >> that's the thing, you know? >> is it the analogy >> what is the weather what is the weather? >> if it's a rain delay they call it. >> this is more confusing than the games we play on the show. >> one of the things you brought to me which was the most frustrating is gm and the valuation, i don't get it at all and you can point to china or whatever and to me that's super cheap and i'm hanging on to it i don't think that the market is just a monolith of one thing it's all on or up. to me it's about what do you

own? what do you think of those businesses how do you think they'll do in the long term and i'm never going to be able to pick the bottom and i'm not going to be able to pick the top what i will own puts and right now the volatility of mix is a little bit of nowhere and a mid, sort of -- i don't know. >> it's cheap. >> it was as low as ten two weeks ago and as high as 15, i own some protection and i know i'm never going to pick the bottom or the top and i'm not going trade around this tape in the longest bull market. do i like what i own i like the banks and i don't care that they've underperformed and year to date we talk about the market at all-time highs with the longest bull market in history, and it's the economically sensitive group and that's poorly.

they should be confirming these highs and they should be confirming these, and we talked about it a lot over the last two weeks. >> you know what's in pretty much every consumer product that we buy these days, even clothes? i think these are late-cycle signs. >> so therefore, what do you want to do >> i think you want to be somewhat cautious when people are bringing out the pom-poms. >> what does that mean >> when i have to hear people talking about and finding sectors that outperformed and they're justifiable, and airlines are and they're some of the great trading stocks and united has moved 30% and i think the autos look on an earnings valuation. the valuation borders on absurdly cheap i think we've also seen these moments where they've had major rotation the tech has carried you and

then you've actually seen this rotation, but biotech to me and banks are in places where i think you've basically had earnings affirm the story and you've had companies that are very cheap with some of the best bounces they've ever had again. >> i agree with you, but i don't think you have to say biotech. i think there are names within the pharmaceutical space that have had plenty of upside as well look at the moves out of pfizer and some of the moves in the upside have been very, very strong >> they tray very inexpensively. >> that's the value. >> don't you thank fundamentals should be good into nine years of the recovery where interest rates are actually negative. >> but these guys are stretches and it would be ridiculous. >> which part of the top-line growth has confirmed this economic recovery. everybody was telling us that

you will not see the benefits on this from six to nine months >> okay, that's what i'm saying. consumer confidence risk, adjusted for inflation is the most negative in six years what we're seeing from the markets might be backward looking from an economic standpoint. >> to the point that you bring up average hourly earnings and the fed minutes were out to me and if you want to know where the risks are, they're being removed from markets and it's with the european central banks and the global macro forces and they're outside of the impact of the economy and it's been very resilient. and the fed would continue. >> and so it's past cycles at this point and we've had fed funds at 5% or 6%. so we're talking about almost an inverted yield curve

we're talking about negative real interest rates. so to me it's totally different this time and all those other arguments about other cycles, you can stlthrow them right oute window >> take a pause in the discussion thank president trump and the corporate tax cuts for the massive bull run let's bring in nobel laureate professor albert schiller. welcome back to the show, professor. >> my pleasure >> what happens after the initial absorption and processing of the tax cuts for the economy? does it get tougher? is that the best of it well, tax cuts are one of many factors that affect markets and we're just starting to see the tax cuts and it's affected the psychology of the markets and people are not mostly calculating what the corporate profit tax will be and they're thinking donald trump is president and it's a new era he's the inspirational speaker and he's the first u.s.

president who has a history as a motivational speaker, and i think this market valley is a complex interaction of psychology and free market economics. >> how would you assess this bull run, professor and all day long on cnbc, and what brings this to an end, if you will and how much longer has it and what's your view >> we've set a record on length of bull markets. that has to be for most investors a worrisome sign, because we've had 13 bull markets since around 1930 and this is the longest one by day apparently so the question in my mind is how much are people paying attention to this all over the

news the last time we had a record set was in the 1990s and it didn't correct the market for years. people started talking about the longest bull run around 1996 and it went for four more years growing up my suspicion is that this news is not so dramatic and it will not change the probability of a corrections by a whole lot, but i could be wrong about it. >> it sounds like there could be many more years of gain for this market before the bull run ends. >> it was 1996 when people started worrying about the longest bull market being a negative indicator, but it didn't -- the tape ratio which i like to use the earnings ratio rose to a much higher level than it is now by 2000.

it was almost 50% higher than it is now i just don't think that these kind of ratios are determinant in most people's thinking. they make news when they happen, but in the history of the stock market they haven't predicted a turning point. >> in terms of the market technicals, professor, it's interesting because we had an article in the wall street journal and buybacks will reach a record by the end of this year in terms of the amount of money being brought in the buybacks and the number of stocks have dwn down dramatically and we're showing numbers since 1998 does that create a different dynamic where the same or more amount of money has shares. >> if we compare this with the long history of a stock market, we are still in a moderate inflation period so it's both inflation and stock

buyback, but push stock prices up even if there's no real gain in the strength of the companies. they're numerical things so that's part of what makes this latest news about those longest bull market less impressive. >> professor, thank you very much for joining us, giving us your expertise we appreciate it director robert schuller of yale >> it comes after the bear market and the most extreme drawdown that most have seen after the depression you have extremes on both sides and let's also be clear that monetary policy was massaging this whole thing and we've seen that markets and the economy and corporate earnings have actually followed through i think that's not insignificant and that's part of what's going on here and 20% earnings growth is extraordinary that just is what it is and that changes multiple and it gets

back to what do i want to buy here and what's interesting, and alibaba with earnings out and the chinese tech story is where they've been more a victim of global sentiment and it was a crowded trade and you should like global tech. >> on one of the graphics will be the bottom of the seventh, two out and it sounds like the game's almost over >> when you say over, we're setting ourselves up for some sort of a pullback and i think we do get a pullback we get some readjustment and we're off to the races as well i'll give you another example of growth versus value, though. how about procter & gamble trading with 31 billion in debt and meanwhile, you look at someone like facebook and they've got 40-plus billion of cash and they traded at 20 p-e people want to say which one's growth and value and facebook is value and growth and it makes it

very difficult to find a name. >> we'll keep that oil after all and maybe not with the aramco ipo. plus if the face intook suspending hundreds of accounts. >> and later it's trader versus trader and they go head to head on one retail stock. you don't want to miss it. there could be blood we are live fromim tes square in new york city. much more fast right after this.

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>> welcome back to "fast money," sau saudi arabia -- aramco >> the crown prince is taking aramco public. sources tell david faber that the company is still committed to going public eventually, but the timing is less urgent because oil prices have remained steadily above $70 a barrel. right now aramco is largely focused on acquiring a stake in saudi basic industries from the country's saudi fund that has caused the aramco, and crown prince muhammad first announced in early 2016 that he was considering taking aramco public the deal would have been the largest ever the saudis believe it could

attract a $2 trillion valuation. still the saudi aramco ipo has been the subject of intense scrutiny and speculation ever since then the stocks have changed across the globe including those in new york and questions swirled about timing and execution of a deal that big, melissa. >> i'll tie this and i'm not sure if this warrants a tie to the story,but for tesla, i mean, when we are taking a look at the saudi sovereign wealth fund and whether or not they'll be able to participate in any sort of deal and tesla going private. you're saying a lot of the money is tied up and spoken for in terms of other investments and selling the stake would be key, correct? >> well, that would be key for the sovereign wealth fund, but in terms of aramco that adds debt to that company and so it decreases the flexibility to do other things, but you're right and there's a connection and when you make deals of this size it does limit your options for

other deals. >> leslie, thank you leslie picker in the newsroom. >> all right so -- there had been a line of thinking that aramco and ipo, and it was the price of oil and i was surprised that oil remained higher. >> i don't understand why they would sell a portion of it anyway, right? so in an attempt to diversify some risk for them so i don't understand. they're sort of doubling down on oil by not selling a stake >> it doesn't quite say anything and it would seem like a decent time to do it. it's a great time and what you're doing is trying to diversify your risk. i think what they found and what happens with a lot of people is i'm not sure they want to be a public company i'm not sure they want to go through the listing process and have to go through the disclosures and i also think that this news was in the market three months ago and i don't think this is a huge surprise and what's driving the price of oil right now and by the way,

positive technical trading in terms of the take and you have the first time in a long time after bouncing off the 200 and it's the dollar. it's 2.5% weaker and that's very important for commodities and i think the iran rhetoric continues to reit up and there's this war of wards going on between the president and their oil minister selling strategic reserves >> is this inherently a bullish sign for oil stocks and we know we'll hold on to the stake and i hope you're right about the direction and i added a position and schlumberger is just one of the names i've added to with chevron and exxon. >> the worst-looking stock in the whole market >> we did just fine. and it's five-years and a lot of charts at the bottom of the ocean. >> that's just an old line

>> and it was five year. >> you haven't gone toe to toe yet. >> the dollar is really interesting. >> guys. when they started to end, right? the dollar started to rally and what did oil do? it got cut in half so you're talking about a couple of percent move in the pullback right now and if that thing were to get back above 100 i would have to think that oil could be in for a hurt. >> are you talking oil or schlumberger >> and what's interesting about the comment that they don't see oil high enough and that's why they're pulling the deal and it's at 68 bucks >>. [ indiscernible >> it was true and they were contemplating it and when you really need to get a deal done because the markets have moved up, it's really, really hard to get that going from zero i don't understand it at all >> saudi aramco is not the reason why oil prices are higher

and therefore everyone thought it was being massaged higher by the men in line. >> coming up, in a remarkal run, it is one of the best-performing stocks and the shareholder says the run is over and this time he means it so why does the stock keep going up i'm melissa lee. you're watching "fast money" on cnbc, first in money worldwide and in the meantime here's what's coming up. >> video killed the tv star and it's created a hot trade in the process and we'll tell you pete and dan are beating up one surging stock and they're about to duke it out and you'll pick the winner when "fast money" returns.

welcome back to "fast money. it looks like social media companies are cleaning house facebook and twitter removing hundreds of accounts across the

platforms. julia boorstin has more on this story. >> facebook has identified campaigns on media and iran and russian military intelligence services and those campaigns looking to mislead countries around the world in calls to reporters, mike zuckerberg is saying 652 accounts, pages and groups linked to iranian interference with nearly 1 million accounts following at least one of those pages and the company is working with u.s. treasurys and state departments on this issue. it can't share details on how many russian-linked pages and accounts that it has removed and that investigation is still ongoing and that has worked to strengthen the security operations and zuckerberg noted that ahead of the midterms, they're ramping up the number of people they focused on security and it's not just facebook, they're working with the industry peers today and we've suspended 284 accounts in

twitter for engaging in coordinated engagement and it appears many of these accounts originated from iran google's youtube also tells us it removed one account that had ties to iran zuckerberg says they're working with other companies as well as government agencies around the world to protect users from manipulation and they also said there are other investigations under way and this certainly isn't the last of it and they're committed to transparency >> has facebook done enough? roger, one of the early facebook investors. always good to speak with you. i think it's commendable that facebook and twitter endeavor to do this. the problem as an investor that i would have and i'm not an investor, let's make that clear is that we don't know how much more there is. they can say we're moving this many accounts and this many pages and we're not sure where that is and they probably don't

know either and we don't have a grip on whether or not they have a grip on the problem. >> i completely agree with you the good news here is for the first time that companies are getting ahead of problems in the political arena and bring them to life and that's very, very positive, and i'm afraid, and i don't know this, but i'm afraid that this is likely that the number of bad pages that are out there are like cockroaches, when you kill one of them you know you haven't solved the problem that somewhere there are hundreds more and that's true here what i like about this and as a shareholder what people should be focused on is these companies for years depended on their users to report problems so they had no internal infrastructure for spotting things ahead of time and they're just beginning to do that for the first time and i think this is a positive sign because in

this one occasion it absolutely worked to be clear, fire eye, a security firm, contributed to this, as well and they've still got the training wheels on, but we are trusting as a country we are trusting our midterm election to facebook, youtube, google and twitter and that, i think, is not something anybody should feel comfortable yet and not because those companies don't mean well and it's a hard problem and they're just beginning to get their arms around it. >> roger, you mentioned that you're a facebook investor and you have sold shares and at this point going into the midterm elections, would you be looking or more inclined to sell more shares ahead of the midterms >> it's a great question i have turned over my position that works with my assets and i

don't get involved in the decisions any longer because i've been in essentially an activist trying to campaign to have better control of social media. so i don't have any idea what is going to happen? i have no personal interaction with it and to be clear. i don't think we're going to know what's happened until november 6th, right? when the election actually happens and my fingers are crossed. i am cheering for facebook ask twitter to be successful and i'm not hyperconfident because i think the problem is really, really complex >> it's extremely complex and it seems to me that twitter is fixing their product and it's never been whole as a shareholder that would bother me and i don't get the sense that management knows how to fix it and when your core product is data. this seems like a major problem. >> in fact, that is precisely the issue. we're not dealing with a problem with social media.

we're dealing with a problem with advertising business models that are dependent on attention and when you do depend on attention in order to get your economics you have to create networks the way facebook, google have done and for all intents and purposes, they're undefended the thing we have to pay attention to is foreign interference is not the only problem in this election i fear it's the only one we're looking for and the cambridge analytica is still out there and the trump administration still has it, presumably, other republicans have access to it. so the ability to do bad things with bad data on facebook in particular is still there and you know, i don't know that anybody's even trying to prevent that and so i worry a lot. i think these companies have insinuated themselves into the public square and they didn't prepare for the responsibility to come with that, so even if they wanted to be really good citizens on this and until recently, they didn't show any

on that and even if they wanted to be good citizen, this would be a hard problem to solve and our democracy depends on them. >> thank you very much for joining us >> my pleasure >> everybody go out and vote >> of elevation partners how much of a concern is this as a facebook shareholder >> it's definitely a concern i do think it's doing a right thing trying to weed out what they call bad actors and that's been weighing on the stock, right? when he was on the hill. you know, certainly he's under pressure there and i think that facebook having similar problems and it seemed to weigh most heavily on facebook and just as they happened to be the posterchild, but it's still long, and it's still long alphabet >> you talk about weeding out bad actors twitter is trying to be out there and jack dorsey is trying to be out there and there's something very interesting in early july when they announced they suspended 70 million user accounts as they try to figure out what's real

and what's not all you have to do is look at the real donald trump's twitter handle he hasn't lost one the net hasn't been an increase because there's been reports that maybe 25% are fake. so i have no confidence that they're doing anything >> facebook has totally underperformed >> i'm talking about twitter here in particular there are some things in clear sight that are evident and i don't have a clear sense that they're doing what they need to do to clear up the platform. >> coming up, it is hard out there for nvidia shorts. just ask andrew. the chip stocks were more than 60% and he's been betting against the stock for months and now he's more convinced it's going to be down why? he will be there plus they're going at it pete najarian and dan are going at it, and fighting one surging retailer and if you thought it got heated earlier, just wait until after this break

reascongp. >> nice dan. every fire department every police department

is part of a bigger picture. that bigger picture is statewide mutual aid. california years ago realized the need to work together. teamwork is important to protect the community, but we have to do it the right way. we have a working knowledge and we can reduce the impacts of a small disaster, but we need the help of experts. pg&e is an integral part of our emergency response team. they are the industry expert with utilities. whether it is a gas leak or a wire down, just having someone there that deals with this every day is pretty comforting.

we each bring something to the table that is unique and that is a specialty. with all of us working together we can keep all these emergencies small. and the fact that we can bring it together and effectively work together is pretty special. they bring their knowledge, their tools and equipment and the proficiency to get the job done. and the whole time i have been in the fire service, pg&e's been there, too. whatever we need whenever we need it. i do count on pg&e to keep our firefighters safe. that's why we ask for their help. welcome back to "fast money. i'm leslie picker. we have l brand, the company for victoria's secret and bath and bodyworks, beating 2 cents per share. the stock is down, as you can see. they're more than 5% in after-hours trading thanks to cutting its full-year guidance as well as very weak q3 guidance and announcing the departure of

the ceo of victoria's secret pink, melissa? >> retailers have a lot of problems in terms of executing and figuring out what the consumer wants to buy and the price points. >> yes >> i've been sort of intrigued by it. i don't own it it's bad to miss, to beat and lower your guidance. the back half of the year and i won't buy it certainly not tomorrow i want to see how it shakes out. >> it is a very and they're talking about the long-term growth of the retailer earlier today on cnbc. >> i think you're seeing winners and losers right now in retail we took a path that said we'll invest in the long term and several years ago we decided we would invest in our stores and invest in our brands and invest in our team and invest in new fulfillment capabilities and

those are starting to mature and they're now at scale and they're seeing a reaction, and that showed up in the recent earnings report >> the stock surging to a fresh all-time high and longtime fastmoney fans know our traders, pete and dan have been bullish on the bull's-eye for quite some time. >> i like target i think it's too cheap you can see where it's been holding down here and it almost hit those levels before when it pulled back. i like what we're seeing and i think the stock will get up toward 70 once again they're accelerating the $7 billion three-year investment plan and if this company starts to see benefits from that, i think you see a stock moving back above 80 and back toward those prior highs over the next six months or so >> great call, guys. target in rally mode and pete said way back in november continued to rise after dan's call in march. so what do they think of the stock now? it is time to introduce our newest segment, trader versus

trader >> here's how it's going to work they're over at the plaza and they'll each have 30 seconds on the clock and the traders will then vote. so pete, you are up first. >> first of all, as usual, dan is late on this trade and he'll jump out and get a little bit early. this is a company that's a long term fix $7 billion they're willing to spend to go with all four points of the focus of brian cornell. i think they're executing absolutely perfectly and they continue to over the next couple of quarters. if the economy stays strong this is a company that continues to go higher and i think it's a $100 stock and bank of america agrees and it's breakthrough 90 and you have a 10% move there and call it 99 and $100 a share. there you go. >> six seconds on the clock. it's your turn >> here's a company that is executing and the stock was massively underperforming for the good part of 2017 and like pete said, it was cheap and i picked up the baton at 71.

it's really nice, right? we had this breakout here. the news is out and sentiment is overly optimistic and we've had a lot of great stories here and we've had the tailwinds of consumer spending and at this point i think when you see results that are corresponding with some of the things we're doing you can take a pause we have a chart right here and it's important when i think about this we got to that prior high and my line kindof stinks here and th thing is it gave back a good bit of today's stock i think there are better opportunities here you're talking about a 10% rally from here. >> 30 seconds goes by real fast. i'm not -- here's where we're going. >> you take it >> i have to physically separate you guys >> here's the thing you don't understand you know what the p-e is right now? >> you know what the p-e is right now? >> what? >> the p-e is 15 you know what walmart is everyone fell in love with darling walmart.

>> thank you >> i know. somebody will get hurt here. trying to vote on it, and zip it i'll tell you why, i'm a buyer it's a company that yes, the consumer is at the back and they've made major with business. >> karen >> i agree, and keep the momentum going and could it trade lower, of course, and stay with it for the longer term. >> stick with pete whose side are you out there on? pete's or dan's? we'll have the results later on in the sw.ho much more "fast money" still ahead. to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide.

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new fixodent ultra-max hold gives you the strongest hold ever to lock your dentures. so now you can eat tough food without worry. fixodent and forget it. welcome back to "fast money," chip stocks and driving that rally nvidia. bob pisani will break down the chipmaker's remarkable run. >> hi. we've been talking about it since the market bottomed in 2009, but nvidia wasn't one of them and it wasn't an amazing mover until the middle of 2013 and that's when the stock really began to move ask it really didn't take off until the middle of 2015. in the last four years it's gone from $21 to $230 and that's a move of 1100% and it's still up 35% this year, that's remarkable, handily outperforming micron, qualcomm or intel and also outperforming

the benchmarks semiconductor etf is up 7% the reason why all of this is happening sales started taking off about that and that's 2015 for example, sales guidance doubled from late 2015 to late 2017 from 1.2 billion to 2.4 billion. what happened then nvidia's graphics card is famously used for gaming and it's still about 60% of their revenues and they also found big adoption and data centers run by companies like amazon or microsoft or google where they're used to run machine learning and other artificial intelligence apps and nvidia also had very high hopes for use of their chips in cryptocurrency mining operations and they recently said that demand for that had cooled as crypto prices have come down down the road there are a lot of hopes that require a lot of computational power and it's a new source of sales. >> thanks for the rundown on n video, but not everyone is so hot on nvidia including none

other than the infamous short seller who has correctly called the decline in pharmaceuticals, but it hasn't been the same when it comes to the position in nvidia and it's feeling like the captain and moby dick on the hunt for that elusive whale and he called the casino stock and he shorted nvidia right before the earnings report that year and the stock soared 36% at which point left short again and that's when nvidia, and nvidia's rally has forged on. still, lusk will get it right on nvidia this time around. so we had nvidia's earnings report just last week, andrew. what did you see in that report that makes you think this time it's going to work >> a few things. as you put my chart up with nvidia, some of those are

trading calls and sometimes the stock got ahead of itself and many times it did and who could have ever predicted the crypto rise or some of the other situations, but not all of those calls -- were not short the whole time straight up and that being said i got short before earnings and the stock went down and the stock recouped its losses and they're doing the kiki dance and they're going to 300. i just don't see it. i think he's been a wonderful ceo, but he's moving the target completely right now and how about this, i watched cnbc religiously and i've not heard one person say the word rate tracing up until yesterday and realtime rate tracing and now that's the reason to own the stock. it's a gaming stock. we saw auto, and goba and we saw tesla. the marquee client developing its own chip that's more powerful and we see data centers into the law of large numbers

and you see a concerted effort by the chinese government to bring the artificial intelligence from their hyperscalers domestically into china and these are all headwinds facing the company meanwhile, we saw directly how the stock has done, wonderful from 30 to 260, but look at their earnings the stocks are up threefold. so people are having and expecting the future to be as promising as the past and i don't see it and much like one day when you saw facebook get whacked for 140 billion or whatever the crazy market cap drop it had with the one day of earnings we'll have that day with nvidia and they're not going to show the growth and data center you want and i'll come back on the show then >> and it sounds like this could be a while for this, because it sounds like this is not just a trading call right now, andrew this is a fundamental call >> i thought it would be this. >> it's on the heels of this

first major architectural launch in two years which is why analysts have said you don't want to sell nvidia here on the back of crypto weakness which they've been trying to talk down for several quarters now >> actually, around a few quarters ago, he said crypto is here to stay and he was very excited about it and as for the new architecture launch, you'll have people spending the early money and it's all about the racing technology and there are only 20 games that support it and they're not even in the gaming community and they're getting it correct in gaming so saying, hey, you should buy it here because we have the ability to eliminate shadows, it's a difficult call if you look at trading. >> hi, andrew. have you in your career ever seen a 100 million market cap stock where expectations of deceleration in growth are as meaningful as you do here in

2019 to basically the low teens, trading at 12, 11, 12 times sales. does valuation play a large part in what you're talking about here >> it's not just valuation they're a victim of their own success. it's a good thing. you're not going to create what they inflated with artificial intelligence and not find that your customers are looking around it's a huge capex spend they had earlier this year which nvidia was a beneficiary of it's a valuation call and it's not just valuation that sits in a vacuum and it's valuation knowing that with their big customers and their hyperscalers they're looking for alternatives to the gpus and that's on the data center business and i won't even talk about automotive and crypto and gaming i discussed already. >> andrew, i'm curious you said a lot of those things are trading calls and overall in all of the efforts to short

nvidia, have you made money? have you lost money? >> believe it or not, probably about even, maybe, and i've covered some and i've lost and i would put it around even i would like to be short earnings and every earnings period before earnings and there's nothing, but the market in general, so i might just short the stock market or the nasdaq, but i believe this is a catalyst unless you find some news and you see how their gpus are selling or you can look through some of the reports that are out there. >> they have you covered >> did you short into this past earnings report and have you covered already because we have three months until the next report at this point. >> i covered a lot of my position just because it was a trading position and i still have some short on yes, i do. >> andrew, i'll leave it there

thank you. >> andrew left of citron research reactions, desk? >> it's very easy to argue that it's an expensive stock. i certainly have thought that for a long time. i will say that the rate tracing and the touring is a bit of a game changing and i think the whole gaming industry is on fire and i think these guys are at the forefront and margins in gaming have come down and that would be a concern, but it's hard for me to see anything structurally wrong here, and, you know, it may be a dangerous short. >> karen all of that may be true and i'm just afraid of the short side, right? things traded and they traded a ridiculously high multiple and now they traded ridiculously 20 multiple and you have to have a strategy if you're going to short and you have to know how much you're willing to lose. >> don't go anywhere much more "fast money" still ahead.

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versus the open interest and i have a one-year chart which was interesting. this stock has come in 50% from the all-time highs made in july and right on the uptrend and to me it's a level that should probably hold there, but this is one i like here and i suspect these traders are looking to buy closer to the money. >> i know you saw this action, pete what did you make of it? >> we saw the action all of the way out in january i think it's over 70,000 options and i own the stock and i'm selling the calls against the position and i like what they're doing. i'm not a gamer, but i want to be involved in this whole world of what i'm seeing from the stock perspective. >> check it out at 5:30 p.m. eastern time up next, falrain tde (indistinguishable muttering) that was awful. why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh.

so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.

watch dan and pete go hand to hand in the trader showdown and we asked them on twitter who won the battle the results are in and pete is the very first winner of trader versus trader. >> wow >> exciting stuff. >> 63% for pete, 37% for dan all right. >> time for the final trade, pete najarian. >> i'll about with oracle and we talk about the companies all of the time and we talked about cisco and microsoft and oracle, i think it's going higher. giddy up. >> foot locker, upside calls going into earnings on friday.

>> dan >> ea looks leak a good bounce uptrend. >> trader versus trader, that's a great first round. tremendous stuff take space >> "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 money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. it's my job, not just to enterta entertain, but to educate and teach you. call me 800-743-cnbc or tweet me @jimcramer. mayb