growth stocks. >> this is the latest phase, the growth stocks that all of a sudden got priced at a discount a couple months ago. >> i wonder if jay powell and company tones down the language and expectations of rate hikes. >> in a non-decision statement i'm not sure how much play they give. >> we will see more discussion to come coming up. that does it for "closing bell." >> "fast money" begins right now. "fast money" starts right now. live from the nasdaq market site over looking times square. i'm melissa lee. traders are tim seymour. steve grasso karen finerman and dan nathan. we start with the which would day on wall street after a big night in d.c the dow surging more than 500 points soaring into the close ending near the highs of the session. the best day for stocks following the midterm elections since way back to 1982 but while wall street went wild, the real drama came from inside the beltway. our own eamon javers is back at headquarters with the details. eem sfwloon melissa, that's right. we had the wild press conference from the president in the east room down in washington, d.c

but then shortly after this late this afternoon the white house announced that the president had removed his attorney general jeff sessions, replacing him with session's own chief of staff matthew whitaker somebody who has been critical of the special counsel's office straying too far from the mission. whitaker having written about a year ago an op-ed in which he suggested the special counsel should not investigate the president's family and finances. he should stick to investigating russia this is seen as a move by the president that has the effect of constrange the mueller investigation into the russia meter, tleert keeping it focused where it began, which was the question of donald trump and russia and is there any connection there? meanwhile, the president at that press conference this afternoon was asked about the possibility of cooperating with democrats. here is how he phrased his relationship with the democrats is likely to be like going

forward. >> if they start investigating you, that you can play that game and investigate them. >> more than them zb can you compartmentalize that. >> i think they know more than they know. >> can you compartmentalize and that and work with them for the best of the country. >> if they do that, no, it's all it is it's a war-like posture. >> the president says if democrats investigate him then all it's going to be in terms of his relationship with a war-like posture between the white house and house democrats. that -- the democrats are signaling on capitol hill they are going forward with investigation. that gives you a sense where we might be headed with that. then one more to flag for you guys this might be of interest on wall street. the president was asked today at the press conference whether or not he would consider a deal that would lower- that would raise the correspondent tax rate in order to lower middle class tax rates. would he be open to a tradeoff

with democrats he seemed to leave the door open listen to that exchange. >> as an example, if the democrats come up with an idea for tax cuts which i'm a big believer, i would absolutely pursue something even if it means some adjustment. >> even if it means some adjustment, the president suggesting he is willing to look at a deal that would raise the correspondent rate but no indication that we are getting a tax deal next year, because as we saw, the president and the democrats up on capitol hill are at loggerheads already and we're not 24 out from the election results. >> you know eamon when the headlines kim out that jeff sessions was fired you were on set with me on power lunch and we immediately jumped to this possibility of constitutional crisis. can you walk us through the dominos how we get from here to there? because that is what the markets -- i mean, the worst-case scenario needs to be looking at in terms of pricing things in. >> sure well we're not at a constitutional crisis right now. the president has the authority

to remove the attorney general the attorney general serves at the pleasure of the president, as they say. the question is what comes next in terms of next steps is the president satisfied with in or does he take steps to remove rod rosenstein, the deputy attorney general overseeing the russia investigation? does he take a step to fire mueller, the former -- the special counsel head of the fbi formally the president suggests today he has the authority to fire all those people that could provoke enormous political backlash because it looks like the president is trying to stop a investigation getting too close to him and that's an inherent conflict of interest. >> eamon javers from headquarters, thank you. a lot to unpack. one thing clear, the news jeff sessions is out accelerated after the rally here wall street had already embraced the end result of grid lock after the election how long will this euphoria last

or will worries about the fed and trade haunt the market. >> the market wasn't worried about the constitutional crisis. the fed tomorrow will give you some statement also you have dietinged dh trade data tonight on exports, imports, trade balance, et cetera we closed at 8.5 years highs on the 150er. we closed at 8 and a half year ties on the 10-year. what's hurting this market np it's fed, rates not midterm elections. >> in terms of what happened today when it happened overnight. >> right. >> we are looking at grid lock already. then the jeff sessions news. is it all but sure that grid lock will stymy any efforts on either side to get things done. >> the market is counting on grid lock. everything that should have rallied rallied you had a risk of trade today but it's too far too fast i give it breathing room. i'm looking for giveback in the next couple days >> you say the same thing. >> i thought it was too much the outcome was not shocking,

right? that was what everyone thought was the likely scenario is exactly what happened. so the rally -- i don't know, i kind of thought it was overdone. the issues that haunted the market are still very much there as he said, fed and trade. and actually, the market rising gives trump a little more room, a little more rope, call it whatever you want to have a harder line, right, iffer we are doing better china does worse worst that gives him more line i wasn't so delighte >> and after mid-terms he has the ability now -- he was holding back he pulled the reins in before mid-terms to go softer stance on china. now it allows him to say let me go real hard on china >> he went hard today. i mean he went hard on everybody and everything around him. i think one of the things that's interesting about the market reaction sued mod removed a big uncertainty. no one knew what was going to happen and how markets react

i wouldn't expect him for him sounding off for the markets to react one way or the other either nack said, i think he is increasingly getting cornered. this is not really his stock market anymore when you think about the risk to this rally at this point, i think you have to think about european banks are down 30% from the 2018 oh highs. the hang shy. >> what do you mean it's not his stock market. >> it's unlikely there is more fiscal stimulus. unlikely there is signature legislation that gets done bipartisan. >> you're thinking of the middle tax tax cut. >> i think he can -- ultimately he has to do something because his score card is the market. >> he has control to do that regardless how congress is made up. >> he says he goes to war if the co-equal branch of government the democrats start oversielgt that that branch of government wasn't doing prior that's the way the government is supposed to work if he is going to war then what gets done at that point? nothing is going to get done. >> the war on china. >> there is a commonlety where

the democrats probably want him tougher on trade deals it's actually a huge bipartisan issue where the democrats might even push him to go further on china than he otherwise would have went with the republicans >> why do you think that. >> because it's a bipartisan issue. everyone has been worried about the same issues the last 20 years regarding china. this is the first president that has put his finger on the button and democrats back him up more than republicans because -- >> you're pricing in that going tougher on china is all but a foregone conclusion. >> i think that you -- you should see him get a little bit tougher maybe after the meetings maybe he don't do it maybe after the meetings maybe not a great outcome. he gets a little more hard line. >> it's a political issue. i think when we thought -- at least the first round of trade especially as directed on china was for rust belt states was for certainly pivot alstates to go after those votes important to the president. i agree that look this should be

a bipartisan issue this should be more about slgle property and technology ripoff all that we care about but i believe that traud has been a political -- i talked about this on the campaign trail and by the way. >> but it's something that democrats and republicans have been talking about for a long time so i think, to your point, that this ands mossty yes there is a lot. a lot of contentious behavior but this is something they both agree on. >> the way he dealt with nafta he put a deadline. this is not how the china thing gets worked. we're not fixing a budget deficit. that's not what it's about this is about forced technology transfer this is taking months if not quarters best case scenario we get some agreement to work on it constructively, not the sort of messaging that we saw last week between the president and larry kudlow because that's a mess. if they want to do this on twitter then it's a mess and it's the sort of headline that market participants won't. >> are you not constructive on the market, this rally what does it mean.

>> i think we have to focus on global growth. a miss coup here as we tighten, as the dollar rises, abthe 10-year at 3.23 at 8-year highs. we have the potential to see a that you in tebl growth. we are seeing it in europe and agy. look at the macau numbers union of erwin the economy is more fragile that larry kudlow goes on cable tv and tells the world every day. >> you're negative >> i'm just cautious >> this is positive for dan. this is positive. >> we have a market moving the way it did today we could be back at 29040 like that. i said that last week too. >> we moved 8 processors in seven days moved 140 s&p points in a blink. >> to be cautious at this point he i hear everybody doing. yes we know about the post midterm dynamic, also the market was overly bearish and that this rally comes to the extreme move to the downside. we removed uncertainty the world isn't ending i think that's how we approach the end of the year. >> for more on whether the

election euphoria lasts what's next in the markets let's bring in chief the investment officer rebecca paterson you heard the debate what do you believe in the rally? do you believe in it, fade the rally? >> picking up where we left off, october to me was completely overdone you have global growth at 3% u.s. growth deaccelerating still in the threes. to have the the market is a mismatch if we have buybacks kicking in, i saw a report that november buybacks would be the strongest on record for the november the trade thing i do think is meaningful the best case scenario, the dan i agree, the best case scenario is that they agree to talk we have a constructive direction but no resolution. and the worst-case scenario is that pence brings a dell and trump says nod goot enough and we realize they can't agree within the white house that's how i scenario it

but that's icing on the cake guy back to what does the president want he wants gdp growth staying in the 3s until 2020 which is hard without more stimulus and the fed raising rates. having a trade war doesn't help him in the goal. i'm not suggesting it's getting resolved quickly but he has to balance out the trade war versus keeping growth high enough that he can campaign on that. >> and i mean, i completely see where you believe there is sort of a trump put underneath the economy and that he wants to keep it at 3%. but it's hard are to do when you have the democrats controlling the house. how does he make sure that put is the floor >> i mean aside from just job owning the stock market or giving positive developments on china or something i don't know because he doesn't control the fed. maybe he would like to but he doesn't. and i think they're on a path. unless growth slows meaningfully they are staying on the path a certain point to what you are saying that does impact profit margins, kormt debt servicing. i look at it the next year, near and a half if this rally keeps

going i think it's probably an opportunity to take a little off the table with a medium term view. >> is there any -- is there any mechanism by which they dra the tafs if they do think there is a chance for constructive dialogue. >> i mean i think there is lots of things they do. one possible scenario would be right now, the $200 billion in goods, the tariffs at 10% right now it's scheduled to go up to 25% in january they could hit the pause button and saying we're staying at 10% as long as negotiations are constructive that's all we have. that also gives you u.s. businesses more time to figure out what they do in case tariffs go up. this has happened really fast. for a company to adjust supply chains and processes for 25% tariff, it's not a lot of time if they can just stall u.s. companies request o can figure it out or possibly figure it out which can help sustain growth. >> rebecca, then stalling and pausing means we probably have to face all this in the first quarter of next year and while you don't invest month-to-month you're thinking longer term, how would you handicap the first quarter of theier especially in

a world where things have slowed down a little bit? in other words, do you feel that we could be in a more constructive place having worked through this or do you get more cautious into the new year saying, hey, we may be okay for now? >> i mean if we have a meltup like today into year end i think you're greedy if you count on continuing through q 1 but china has put in a ton of stimulus into the market, cutting interest rates, fiscal stimulus event that should feed through and the growth slowdown hopefully turns to tablization that's good news in regardless of trade the buybacks should kin. the fiscal stimulus while smaller than this year is still a lot ut there $3 oh oh billion-dollar spending package half of that comes through next year. i don't think growth goes to a halt but do people look at we have god growth and slower rate doesn't mean doom. just a slower rate or do people focused on the second derivative and get out because the pace is

decelerating i think i'm in the former camp but the fed removing liquidity and the european central bank is also going to stapp adding liquidity, the volatility bouts are likely to get more not less. even if q 1 is okay taking a little off the table with the better levels, if you take a medium term view on the capitol capital is probably the right way to go. if you are a more speculative shorter term trader like right now we were talking before we got on about china, we have had a great entry level to add china risk if you think there is a possibility of a positive trade development in the next month. >> rebecca, thank you. >> no my pleasure. >> rebecca pat ersz of best emmer. >> what do you do. >> you have competition with stocks fed raising rates in three ways quantitative tightening paying for the tax plan two trillion in treasure ris lifting rates, raising rates if you get a lift in the market you use it to make sales. >> coming up, tech strikes back. the nasdaq jumping nearly 3%

and a top technician says this could be the beginning of a major rally. he tells us the three names leading the way. plus monitoring the big earnings reports after hour wynn, square, equal come on tco equal come opinion cannabis gone piled and two big political wins could lead to the end much on tibitition on a federal level soerhan you think. much more "fast money" right after this ouble 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. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life.

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. welcome back to "fast money. it has been a wild, wild day in d.c. all the drama could bring us closer to the end of pot prohibitition. pot stocks getting a boost in morning after a number of big political wins last night in various states and nonone of pot's biggest enemies attorney general jeff sessions resigning today that turbo charge the group. adidi roy in san francisco with the story. >> what a day. there was key wins yesterday but the biggest boon for the cannabis industry came with the announcement of jeff sessions 'depart pup the tilray shares ended up 30.6% the best day since mid-september. canopy both up 8%. aurora up 9% cronos up 8% sessions was a road block for the marijuana industry shortly after california legalized marijuana at the beginning of the year. sessions rescinded the obama era rule leaching states alone when they legalize marijuana.

analyst bobby bert lz telling us in terms of impact it depends on his replacement but in general it's a the positive considering sessions zaunch staunch opposition to pau legalization the departure comes after key wins for the industry in the mid-terms as well process voteners michigan approving the legalization of recreaksle marijuana. utah and missouri passing balloted issues for medical marijuana. tilray ceo brendon kennedy spoke today before the sessions resignation talking about the mid-terms. >> people are waiting for the berlin wall of cannabis prohibitition to topple over in the u.s. and i think yesterday's election removed a few more bricks from the wall you know, i think that we'll see other countries around the world maybe take the lead over the next few months. >> and back in this country another major move last night. texas congressman pete sessions losing his re-election bed

he blocked dozens of cannabis bills misslesses loss could push marijuana legislation through congress >> adidi roy in san francisco. tim seymour long a a number of names sits op advisory board for three cannabis stocks says the cannabis industry has scored more victory tim is at the plasma to break it down. >> the state economist this is the map now. we added a couple more dark greens one light green dark green being medical light green being full recreational in fact remember michigan by the way politically turned blue last night and then green because cannabis effectively in the form form of full recreational is alive and well a lot of things going on the basis of the fallout saying is the end of prohibitition is end np but brothers from a ditch mother and ady talked about pete sessions

head of the house rules committee blocking rules from the floor. former he attorney general sessions was going out of the way to enfoes foes inference the rule of law. the states act is coming i think there is good news then the other part of last night was the pro cannabis governors. when i think about that it's not just pritzker in illinois which brings the midwest one of the strongest backers of full legal cannabis but obviously cuomo and around in the tri state you have connecticut and new jersey about to fall. you get to place where people look to the east coast as being certainly a place that will begin to challenge the west coast. remember the west coast as as have is have not only flipped illegal and legislatively but certainlily mentally and socially the west coast has been the center of the country in terms of cannabis. the argument right now is that the east coast/west coast rappers feud may begin in cannabis there is a lot of folks that the

east coast could be a bigger market, a very different market that consumption and density will be more powerful here once new york goes you can be -- you can bet new jersey and connecticut will go. new jersey is arguely ahead of new york but new york won't let that happen. let's watch this but, again, a very, very important time i don't think prohibitition goes in which i think the companies in the business don't want it to go away overnight but it's happening. >> tim, so can'ty and cronos, two of the names which i'm long took a hit can'ty a 47% hit cronos 57% hit isn't this more about what in re actual revenues are and how how much you pay for growth? all the legality seems like a great tailwind but we have the revenue issue do you agree. >> it's not just revenue, steve. it's valuations and ultimately the size of the markets. so we have talked about this the canadian integrated companies first to market. the biggest argument against what's about been going on with the canadian names, remember the entire sector is up 20 to 40% in the last five sessions alone they've taken that back. that's good news

but think of the u.s. companies cure leave med men. acreage coming next weks harvest coming next week and they are looking at valuation differently looking at technology and processing. it's not just one way to play the sector the big companies based on production or funded capacity have to be rethought in some way. >> at the same time, tim, i mean, if there is a move to federally legalize marijuana, let's even just say for medical use and you can transport across state lines which has been the bottle neck for the industry in terms of achieving scale of production or anything like that, won't that endanger the smaller players? and really tip the hand to the larger ones. >> right now actually the fact that the interstate issues are -- i think they're protecting smaller business. keeping them -- they're allowing company in particular states to dominate an individual state getting critical mass. we see that in florida with true leave with other companies that are able to win in the environment. i think the states ac is come.

i talked about i think -- you didn't need last night's house take by the the democrats to be a states act to be a near and reel event for the cannabis industry. >> for more on the ongoing legalization of cannabis across the u.s. you can head over to cnbc.com you're watching "fast money" on cnbc first in business worldwide. here is what else is coming up on fast. >> coming up, tech strikes back. the sector is surging. and a top technician says this is just the beginning of a major rally. at ws l tell us the three name thill lead the way

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after hours sessions let's get back to john fortt at the new york stock exchanges with the details, john. >> despite that beat on top and bottom lines, the guidance and specifically revenue guide innocence focus on the call, i talked to -- dsh or got a note i should say from mike walkly. here is what he said absent the one-time tax gain, the q 1 '19 on or deasy guidance is below consensus it appears soft smartphone market and loss of share to apple with the modem built in and ongoing legal costs impact guidance and qualcomm said indeed the weak guide is partly because of the drop from 50% mod emhair in apple to zero. also the royalty dispute costs with apple are running a bit higher than expected and there is on the other hand one week less in the quarter so that's one week less of costs. and that partially impacts the upside to the earnings guidance in fiscal q 1. >> thanks, john.

john fortt at the new york stock exchange before we begin with the semi trade we want to point out that jeff sessions the former attorney general just walked out of the justice department we do have video of him walking out the justice department this is happening i believe moments ago. but again this -- not yet. we will get to that in just a moment >> it's exciting. >> his walk could really tell you lots of things that. >> good ridens. >> semis were just a small smart of the huge rally getting back to the semi trade on the qualcomm quarter the nasdaq jumping 3%. even da dan's maga stocks looking great again. microsoft, asmusen ob google apple. do you stick with the maga trade? i mean, the father of the maga trade. >> as the father of the maga trade we actually had hats made. we wanted to be in with this we have hats for all of you guys chris with cnbc hooked this up. >> thank you. >> i'm not messing up my hair right now but i will put ton

later. >> here is the thing about the maga trade i don't think this is trump's market anymore it's this market, in maga. at the end of the day, look at the performance we saw today, the outperformance we had, microsoft up 3 process.54% apple up 3%. kbogle up 3.5% and amazon up 7% almost. i think the direction of the market from here on out is this maga very little to do with the president appear the white house has to do. >> cool hats, thank you very much. >> thank kristen. >> these are driving the market. >> yes. >> but i'm unclear whether you are positive or negative on tahoe. >> i do think this. >> you go back and forth. >> i think the pullback was necessary. there was too much sentiment in the fourplace names. they made up 40% of the nasdaq 100, almost 20% of the s&p 500 so much positive sentiment so you have in correction here and i think apple, you know, found a little home at 200 microsoft had good results

doogle there was some things to pick on. but generally pretty dwood amazon there was stuff to pick on but this is how bull markets find new highs after correction. >> but you got to knows it there is no revalues from value to growth that was just a couple of week event and now we go back to chasing growth or is that a year-end. >> i'm not saying to pound the table we did a settlement last week fade them that was before the apple downdraft. for the s&p to make new highs maga drives the trade. that's the way to do it. >> we will continue with in maga discussion but we want to get to the next guest. three names in the tech space that look ripe for even big are rally. maybe there is an alt maga charred. let's go off. >> does ve a hat. >> he hasn't come to the desk calm down. >> rob take it away. >> i have no hat but i have charts we'll start with this there. i have to fully agree with dan think about the progression of the market correction incrementally week after week groups rolled over with

leadership often the last one to fall over. technology had the big hit we can see that obviously coming down around the 200-day. it's not a specific support level. it's a support range we start to see the s&p 500 technology sector start to bottom out all the short-term data was depressed. we goat are get the oversold bounce as tim pointed out up five, six seven days in a row row. notable into last week and beginning of this week and note on tuesday morning, the tech stocks lagged. they didn't generate any upside momentum until the last couple days the call was that as the market rebounds we think we get a year in rally tech leads the rally the participants go back to the existing growth leadership what i think is critical and what we have to be watching going forward is the relative performance line here. that's the technology sector versus the s&p 500 we don't know want to see new relativelows that's a concerning sign for us that he can tech is not rebounding we think from here into year end

tech continues to lead let's look at bellwethers that had corrections. microsoft right back for the 200-day here is an important rebound. it rallied strongly today up 4 or 5%. but what's critical from my perspective is that relative performance trend threw the correction held in so i think this continues to be a core long-term holding until the relative performance decays. it's showing evidence it's going to lead into year end. let's look at apple. one of the last of the big caps to correct very sharply but close enough to the 200-day moving ample i think that correction is done. looking at relative performance trend. still higher highs i assume this is a low you have higher lows that trend is intact. apple is still buyable at current levels particularly more year end recovery. lastly the semis have been difficult to look at we talked about applied materials a couple weeks ago putting in peak beginning of 2008 but incrementally they start to improve

i think they are the trade in the year end as well when we look at intel again we had lower lows coming into last week's lows but the relative performance began to firm up you start to see higher relative lows and despite being underneath the 200-moving average it's upside you tent want to buy the names that ran like scalded cats today. look at intel as a laggard. >> rob is coming over. we have so many questions because he is not endorsing half of maga and throwing in intel. >> miaga. >> or mi yoend i don't know. first i want to ask about the rally today. because we are back to early october levels. >> right. >> is it like october never happened or was there damage done that we have to -- excuse before we do that we are look at jeff sessions who is walking out of the justice department. there he is to a round of applause as he submitted his resignation

letter to the president earlier today at the request of the president, according to his letter but you see the staff there applauding mr. sessions as he makes his way out of the justice department on this day. steve what do you think of his replacement what this means for the investigation? >> this is something -- this is something where when you look at what's been going on with the trump presidency this has been a thorn in president trump's side and without him -- i mean if president trump wanted to get rid of him for some time, wanted to wait until after the speed bump of the midterm elections now he sort of got freedom to do a bunch of things he wants to do and get on with his own choices. he was disappointed by jeff sessions and hopefully for the country maybe he could move forward. >> other than -- okay never mind. >> we want to move on here but again jeff sessions leaving the justice department sore troy interrupt but in terms of the daniel that mage in octot happen. >> the uptrend for the s&p 500 and even the russell 2000 are

intact we see more damage in foreign markets than the u.s at the sector level there is a lot of damage done particularly in cyclical. the view is we get the year end recovery we talked about this before. we think the market cycle, the low began in 2016 we are three and a half years into the market cycle. the fourth year is 2018 this is a trading ral yao ary into year end. and we see morp develop in cyclical side. we are getting the rebound that's one area you want to concentrate to capitalize on the bounce into year end. >> do you not like dan's maga? >> i think. >> you only liked half -- you only liked the ma. >> one of the reasons we came up with the really good acronym for the four letters was that facebook was not particularly important important once it lost a few hundred million dollars and netflix was never particularly important and the four stocks that made up $4 trillion in market cap were really driving the performance

of the u.s. indices. >> 100%. if you look at microsoft, adobe, crm, google, apple what else azmodan? they have all corrected down to levels they were all under note on tuesday. coincidentally enough. they have collapsed you've seen washout on the technology trade. rebound and leads the market high sfleer quickly karen, a facebook a underperformer trump during the press conference saying he wanted to regulate social media companies do you think it's feeling the brunt of something >> i mean it's definitely been the problem, the poster child, i think eventually i will fade it was disappointing particularly with with google up 4% a lot of the similar issues. i don't know why it was. >> you're so -- >> i have written a couple of op-eds and about facebook. >> the commentary was gibberish because he immediately said the exact opposite. >> check out square. the stock up 140% ahead of earnings but now falling in the after hours sessions

we hear what ceo jack dorsey told wall street and will disney be the happiest place on earth after the earnings report? we look at the market mover tomorrow more "fast money" still ahead.

money. we've got an earnings alert on square the stock moving lower in the after hours. let's get to dedra bosa monitoring the conference call with the ceo jack dorsey just spoke. >> right at the top of the call dorsey addressing the void that the cfo sarah friar leaves to be

the cfo another company next month and the new finance chief. >> we have a really high bar we will not be sharing a time line but we are working with urgency. this is my number one focus at the company to make sure we fill this role. >> now, one analyst once called friar a rock star cfo and she has presided over the enormous growth and stock gains of the last few years some question why she wasn't offered the ceo role and whether square continues the momentum without her. october was square's worst month in two years and a big part was friar's departure as well as concerns about credit risk and a rising rate environment however it is up more than 100% year to date for the after hours that sell off we see can be atrbted to light eps guidance and quite a bit of time on the call, guys was devoted to square terminal, one new hardware tool that it hopes to help capture larger sellers

dorsey saying expectations around are high. >> thanks, deedia. speaking of jack cores dorsey today marks the five-ier anniversary of twitter square surging more than 136% as of today's close so is square the better bet, the better dorsey bet. >> it's still a growth stock trading down to $65 off the value versus growth onslaught we saw. it's 27% off the lows. i bought it for the services i bought it for growth i'm remaining long the stock i think that if we continue to get growth versus value heading into year end, this stock should recover the damage probably in the next two days. >> karen. >> yeah, the only thing wrong was it came out aen on a day the stock was already up $5. there was a lot to lime ebidta numbers were a big beat. it's priced for perfection. >> i don't think jack will have a hard time finding an a-list cfo to fill the job .the fact

that the stock is down a few% after being up 26% last week at the lows, acts well. >> would you rather. >> ooh, a game. >> twitter or square. >> twitter or square long both names. i would rather -- and what's my time line on this? a longer term outlook square in terms of erp and demacroization of the profile, thee guys are so far ahead in terms of long-term growth square. >> since he owns both i'll paut it to you. >> stwirt, you know, also underperformed given the headline stuff i think they have the most risk of all the companies. >> the most why more than facebook. >> i think they are the least profitable on a gappa basis if they consider increasing costs as user growth decreased. >> i don't think they have the same issues. >> they they have fake accounts. >> yes but i don't think that -- i don't thinks in a community of trust. like facebook is i think this is a media outline.

this is a place where people throw as much tough -- different security issue and they don't have as far to fall as facebook has. >> i think you're totally wrong. and maybe i'll write an op-ed on cnbc.com about it we have the president of the united states uses its a the main bull horn and lies on it five times a day and in an official fashion. >> don't make this political if anything the president helped the company. showing how powerful the medium twitter is it's not whether peopling say things accurate or not that's the thing in 140 irk as 280 people say what they want and that's why they love twitter. that to me is proven in the political environment. >> all right let's stick with earnings. disney. >> nothing to say. >> disney getting a rap in his ear. the stock shining off the results. mike khouw in san francisco will break it down. >> yes, the options market implies a move of 3.5% for

disney earnings tomorrow slightly more than on ample which is about 3.3%. today we did see more bullish than bearish activities. calls outs pacing puts and the minivan active options were the june 1, 25 calls. buyers of those are making bullish bets it's above the 125 strike price by at least the $5 they pay up 12% in 220 days and of course dennison is at lower valuations than it has traded at historically one might understand a bet like that. >> you like disney into earnings, grasso. >> disney is at the upper end of the trading range. it looks like it wants to roll over if you wanted to reach a bit you could say it's a head and shoulders pattern on the stock i grant -- i like it's exploding. it's the king of kent has levers to pull. but technically i look at it it looks like it's one more -- one more pop and then you see the drop. >> all right, mike, thanks for that mike cho in san francisco more pgs ohs action check out the

full show friday, 5:30 p.m. eastern time well etsy surging today. the stock crushing much big are online retail rival amazon the ceo speaking to jim cramer about the battle between the two companies. we tell you what he said and wynn resorts down double lijts after reporting sus.relt see what wall street is saying next on "fast money. i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪

welcome back to "fast money. we got an earnings alert on erwin resorts as wall street weighs in on the earning report. let's get to contessa. >> shares plumted during the call with wynn resorts fresh off the strong third quarter process. the kroechlt threw cold water op the expectations the maddox expects the earning loweren on the year end. right now they see a slowdown in vip and premium business that contraction of confidence as it was labeled on the earning call is felt in las vegas where the bakaraa 11 knews declined. he says he is remaining cautious until there is clarity around what's happening with the asia and the preemie up business. larry curtis from insanity net said most felt the market was stable the the assessment of softens is a surprise curtis blamgs the after hours market strop drop on muddy message attention on cap ex.

though maddox spoke about generating free cash flow in boston then going on to talking about macau. adding 1300 suites, suite rooms with concession up for renewal in 2022. here the companies just highlights the unique way it contributes to macau but in las vegas maddox pulled away from steve wynn's grand plan for paradise park the large public swimming pool on the the trip is history it's expanded for a golf central opinion this has been a rough week, melissa down $94 recovered at 113 today in the after hours trading back down again to 107. rough ride. >> roller coaster. thank you contessa tim, quickly what is the trade and do we read into this china slowdown and should be worried about other companies. >> xi visited a fwoed golden weak

concern about the regulatory environment there and capital flight and whatnot on a valuation basis in stock is crazy cheap. relative to the peers. trading at about nine times 2009 versus pierre, 4, 15 times a free cash flow yield 8, 9% the company acting like it's going out of business. we have a pullback this is a mcimpact trade that's gone really really bad. >> wynn is down basically 32% before heading into this and then you have las vegas down 18%. those were the macau facing names. and to a lesser degree the vegas names. then mgm you thought you were clear getting out of way of china down 16% year to date. but from wynn if we hear that las vegas is an issue as well as macau then there could be more weakness going forward. >> coming up wamz gets artsy and craftsy. look at shares of etsy exploding up almost 25%. the stock up 2 oh oh% in a year. the ceo on mad money tonight

a first look at what he says a as the stock soars is process a it tt bbeeruy than amazon much more from fmz in the heart of new york city in just minutes.

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[ready forngs ] christmas? no, it's way too early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at home. and with xfinity mobile, you get the best wireless coverage for your phone. ...you're about to find out! you don't even know where i live... hello! see the grinch in theaters by saying "get grinch tickets" into your xfinity x1 voice remote. a guy just dropped this off. he-he-he-he. welcome back to "fast money. you could call it a modern day david versus gol iegt battle in the online retail space. etsy soaring 24% following earnings up almost 200% in a year amazon up 50% in the same time etsy ceo josh silverman sat down

with "mad money's" criminal cramer he weighed in what he thinks of amazon reportingly naming long island new york as a site of new headquarters. >> we feel great about the employee value proposition come what may here is what we have going we think we have the best team certainly in tech companies on the eastern seaboard, they think ours is the best we continue to attract great talent the reason is first and foremost is that the mission is a meaningful important mission great people want to work in a place with a great mission >> so can etsy really compete with amazon? i love how the discussion is always about amazon putting a smaller rival out of business. actually they can co-exist. >> it does make me they think could amazon just buy them. >> we thought that long time when they did the hand made hand crafted line on azmodan. >> et cetera is a sock pup zbleet too expensive for them to

buy. necked still afford it good for them. that was impressive. >> i think the biggest story is here a marketplace business doing well and you know remember pete had the power pitch on ebay. this is a company with 20 x revenues and you say the to yourself it's at multiyear lows .the take away is that marketplace businesses are important even in the world of amazon a on a and you're likely to see more consolidation. >> would you rather etsy or amazon. >> longer term amazon. etsy got hit with 28% burg the value versus growth. but longer term you have to play the one that has a bunch of different things a amaze >> no one asked me to play absolutely amazon. self-play. after guy's sock puppet -- low back i say that amazon first of all has shone that ultimately after a pullback from broad are markets this company is coming back. >> for more upon the etsiy's

nen "d ne wtu itomamoy"ith jim at the top of the hour final trades next. we're voya. we stay with you to and through retirement. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that tie. voya. helping you to and through retirement.

>> a melt up into year end emerging markets that's what i bought today. >> steven grasso lennar take a rest from the escalating stock price up is a% in a week lennar. >> karen. >> yes, kors shot themselves in the foot and the regular and me as well. but it's over done wait a day or

two buy kors >> steve wanted one in red but they didn't have it. i like the alibaba and 10 cent. >> new acronym. >> steve has one in red by the way. >> "mad money" with jim cramer 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 save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. a house divide