looking for some clarity >> i think at this point it want bs better news we're not wishing for the economy to really struggle >> that does it for "closing bell." thanks for watching. >> "fast money" begins right now. >> "fast money" starts right now. overlooking new york city's time square, we have our panel with us check out shares of lyft in reverse today, the hot ipo looking not so hot we'll tell you what's gone wrong with the public debut. and stocks surging today and double-digit gains for the year, but the chart master says a number of names have come too far too fast and we start right there with the market rally, the dow rallying 300 points to kick off the second quarter, now above 26,000 back within striking distance of all-time highs and it was the financials leading the way, the group on fire the best performing sector today up nearly 2.5% climbing out of correction territory. check out some of these moves

over the past week citi group, bank of america, morgan stanley, jpmorgan, goldman sachs, all staging rallies. will it be the financials that lead us to new highs and should you buy these stocks that have been left behind, guy? >> is that the doors >> that was the doors. >> this is the doors >> listen, i don't think the financial will lead us higher. tim correctly said last week that the bond rally was probably getting ahead of itself and he anticipated a sell-off i'm not certain he anticipated it today, but that's what you got. i think the knee jerk was people bought banks again with the back of the china debt which was surprisingly good. that said, in my opinion, not a lot has changed for the landscape of a lot of these banks. i'm hard pressed to understand how they can get the earnings power they need to make and make the money they need to make in that era it was fade. >> what was behind this? >> china pmi we had inverted yield curve with

the financials, lack of global growth, lack of growth, so everyone sold them i think it was more of a positioning trade versus an actual tailwind for financials >> we had great china news but also good u.s. economic news, ism better than what we remember expecting. the two largest global economies are doing okay, then that should be good for the yield curve, which steepened, which should be good for the banks i don't think the banks necessarily have to lead us higher but based on looking at the sectors, if you're playing the yield curve trade, even a three-month, ten-month, which we were concerned about last week, it's steep again, above zero to me -- and i don't think the fed will let the yield curve be flat for a long period of time i think the financials are great. >> less inverted is the new steep. >> it's above zero exactly. >> treasury bonds, we had record net longs at two-year treasury futures. what does this tell you? the bond market got so far ahead

of itself and we know the reasons why, steve moore, new fed appointee, larry kudlow representing the administration saying they're trying to push the fed in the next move, you had dynamics for global growth numbers were terrible, and the bond market totally overshot this steve pointed out there was data in china last night, but since when have we believed the data in china -- >> we haven't. i agree but i think it's more of an algorithm base where you see a pmi that improves in china and everyone was worried about them not improving, but how about the equally as bad european pmi? six-year lows there. so we're choosing to pay attention to what we want and ignore -- >> europe is a bit of the tail u.s. and china, china is europe's biggest customer, so china is doing well, then europe should improve as well i think for the time being you can ignore that data

and european data has been horrible for a long time. >> i get your premise, but if we're still seeing that, we haven't seen a trough. you would expect them both to start moving in tandem future forecasts or future activity looks like it's still negative in europe as well >> but think about what happened last week, guys. the banks were destroyed they were assumed to be heading into bearing the brunt of the recession that i don't think we're going to have. so you talked about that ism number it was significantly better. if you look at the things that are working and continue to work, it's ultracyclical stuff the dax is about to break above the 200. emergingmarkets are about to break out of that range. i've said that a few times that range has been here four or five times in the last six weeks. the cyclicals, semis, transports are interesting >> are you expecting some sort of an upswing here >> we have it. >> we have an upswing. >> we have it. if you look at the technicals and carter will be on, but the

s&p is at a golden cross every chance you've had to sell this thing has failed and in fact the fetechnicals, the transports held a 1 200-week moving average last week >> we started the month of march pricing in a rescission, a federate cut >> it's been one month later and all of a sudden we're here at an inflection point to the upside >> yes >> what makes that different >> the data is telling you that. china has stimulated their economy. that data is telling you that. us pmi much better than expected you can wait for europe if you want to, but the market has already priced in recession. even just the slightest hint of some improvement you're going to get a day like you got today >> fair enough we all agree the bankshave bee in a range trending lower. today notwithstanding.

if you're looking for places that may have turned, maybe early, maybe not, but material stocks could be interesting, especially if the china data is going to improve, especially if things here are improving. we can argue whether or not the fed is doing the right thing i don't think that's pertinent here but what is is the fact that china seems to be trending the right way once again, which means material stocks should do better >> so what is sort of the deep play here? it is to invest in europe and the things that will benefit from the sort of the ancillary of china and u.s. turning higher >> as much as i think it's dangerous to get too obsessed with china data and the local chinese markets i think the shanghai market breaking through 3,200 is a sign for global risk assets period. i think we're at a place where it's been unkufrtable for a lot of people because this has not been the trade and that's part of why we're doing it. i don't think anything has changed. if you look at where equities are and some of these groups we've talked about, we've worked off the post fed reaction, the

reaction that oh my goodness, the fed is telling us we're going way down lower in rates and we've recovered pretty much everything >> are yor more bullish compared to when you were here on the show -- >> here's the problem. i'm not more bullish, but the market action has made me wrong in this last leg higher that we've seen >> do you stick to being wrong or -- >> you can't move -- i don't believe in going from ultrabearish to ultrabullish i think you have to wait i've been waiting for earnings and guidance i want to wait for those two things to happen first before we believe that the worst is priced in >> you're in steve grasso's dilemma, let's say >> i am. >> you see the data going a certain way. >> that would be a great movie, by the way, grasso's dilemma >> i don't know who would watch it >> oh, come on but to be fair, this is where a lot of people are where you believe a certain direction for the markets but the data is

coming in against you. the action is coming in against you. >> coming in against you is -- a lot of the rhetoric is coming in against you. this market turned on a dime when our federal reserve went from a posture i thought was correct to a completely different posture and changed on or about christmas eve and it's been full system go ever since then with mr. kudlow on friday making the comments he's made, putting gas on the fire. if the data is improving, i guess the point we've all tried to make in different ways is if the data is improving, this is the greatest economy in the history of our republic, why to we need a 50 basis point cut >> we don't. >> but the feeling i had after we got those comments from powell ten days ago or so was that global central banks are very dovish. they've stepped back into the dove pool with two feet and we're saying we'll grow at 2% to 2.5% gdp in the second quarter, and i think we will. you have an environment where if yields go lower it makes the equity story that much more

incredible i don't think we're going to test 2% on the ten-year but i think we'll range. and i think treasuries were way overbought we were at 234, back up to 1250 very quickly, but that's an environment for risk, isn't it >> it is >> regardless of what you think a 50-basis point cut may signal or telegraph about the economy, it is a risk on -- >> it's a risk on -- from 2009, the entire rally has been based on loose monetary policy it will end, and we've seen the market react, it will end when the fed and everybody else starts pulling back on their monetary policy. if they're going to be loose, if you like it or not, and i hate it, but if you're loose and i have a slightly improving economy, you have to be long risk i'll add in look what copper did today. really strong move in copper that's a cyclical move that would also argue for a little higher ten-year ratings which, again, going back to the banks, you'll probably have a steeper yield curve over the

next 90 to 100 days. >> our next guest says stocks are heading for new highs, things look so good even her own price target might be too low. let's bring in lori calvasina from rbc good to see you. you may be too low >> well, we have 2950 as your year-end target and we ran seven different scenarios. this is the second highest one we did say one scenario we could envision of getting the s&p north of 3,000 is if you see the same kind of rebound this year that you saw in 2010, 2011, 2015, 2016, off those lows then the average rally was about 29%. if we get that off december 24th, it could take you north of 3,000. that's not our base case but that's the upside. >> what are the catalysts for that rebound in this environment? >> i think you have to go back to december 24th and exactly what was priced in we think the market came very close to pricing in a recession. and we think that you're basically living through that rough patch now that we already

paid the price for so we think we're in recovery mode i think the rally is dependent on seeing the economic data getting better, further stabilization. >> we've seen the laggard in financials which is up 8% year to date in the form of the x lesh lf. do you go for the laggards or things that have performed >> i wouldn't be chasing technology the tmit space has led this year, software and services, which are kind of the defensive parts of tech, the secular growers, so to speak i wouldn't touch them right now. they're crowd and overvalued i think you have a lot of deep valuation within financials and banks specifically they're closely correlated with the ism in terms of how they trade so if you buy the rebound thesis, they should work just as well as the semis already have and you have catalysts coming to the financials they'll start leaning on the buyback initiative dividends are strong there we're seeing flows trend in favor of value and we've opened the doors to

m&a. >> what derails sort of this 2950, 23000? >> we've got basically 171 ooze our earnings number for this year and a 17.3 times multiple that's similar expansion to what you saw in 2006 and 2007 i can't really get on board with the earnings recession thesis here we did some stress tests on our models if you have a mild recession, i could see earnings going to 160, but if you have sluggish growth, you'll still get a couple bucks of earnings growth this year i don't see it >> how are you assessing the treasury market? obviously, equity valuations are a function of the discount rate. there's something real here. but we've soon overshoots. you talked about extreme bullishness in one of your notes. how do treasuries figure into your assessment? >> we keep an eye on it, but i focus mostly on the equity market the yield curve is a problem even with our financials, and we acknowledge that, but i think

that's a legitimate debate about whether or not ten-year, the yield curve itself, are reflecting what's going on with the economy. i'm not quite convinced either way to be honest and that's not what driving the financial call. i would say what i'm a little more focused on for risk signals is the cftc data on equity market futures poxing. what's interesting there is you can see seeds of a melt-up starting if you looked at the data in march, you saw s&p futures turn slightly parabolic, back to october levels, not back to skran levels we haven't seen the same followthrough on others like the dow, the russell futures, the nasdaq futures they're still low. but we need to watch that. i think we got two great sell signals last year from that data not seeing it yet. we need to keep an eye on it >> you mentioned this kind of melt-up. it reminds me of 1998. we have a presidential election coming up. how does that figure into the equity it seems like everybody would want the market higher for the

election >> yes and no. when we go through our six drivers of market performance, we say the one negative driver we see, the one big head wind for the s&p directionally is policy, our code word for washington that had previously been a concern about the trade war. we're getting close to the finish line there. the 2020 elections are a risk factor we polled our analysts recently and said look at the industry you cover. if the democrats were to take over washington and win all three, have the triumvirate, would that be a risk to your industry or no and about a third said yes that's pretty material and it was across multiple sectors. >> say we got a 50 basis point cut. is that a positive or negative for equities >> we'd have to see what the backdrop was but my concern about a big cut is we'd have to materially downgrade our earnings growth forecast i think the fed only does a cut that big if you are in a borderline recessionary-type environment. i don't think they'll do fit the economy is doing fine. so, you know, maybe markets aren't going to be down

materially from where we are, but at the same time, i don't think you can sit here and say there's not going to be some sort of adverse impact on earnings numbers so you'd have to adjust for that >> thanks for coming by. lori calvasina from rbc. >> thank you >> for me, i would love to chase a laggard and love to buy the health care etf but i can't get around it due to that last policy risk, so you have democrats and republicans on your head wind there but if you want an underperformer, xlv, see if it can perform. >> i think banks will be meandering slightly lower but i think material stocks might have some tail winds for the first time in a long time. the steel stocks have had a pretty decent couple days and i think rally continues. >> we have a news alert on brexit we're watching the pound fall right now, this after uk lawmakers rejected all four proposed brexit alternatives, all four of them rejected that the point.

how big of a risk brex it? >>that's your answer it doesn't seem to be a major risk to this market. it's a risk to britain, certainly. it's a risk if the pound keeps falling and the dollar keeps rising but in terms of these short-term type of thing, i don't think it has much effect on u.s. equities >> if you're an investor in british equities, uk equities, right, a lot of them are exporters, so would this be a good thing for them? >> and also if you look at the ftse, that trade about 14 1/2 times forward earnings, almost a 4% dividend yield, so how can you not have priced in whatever it is that we are expecting? and i think as much as i don't think the uk politicians know what to expect at this point, the pound is about 4% higher against the dollar year to date. this is an environment they've been walking around in circles and it's probably fair value >> whatever the number is, the biggest gdp in the planet, bigger than the united states,

and more population than the united states. so it's meaningful that europe, brexit, obviously, but europe specifically, there are a lot of negative things going on there 24% of bonds negative yields, you can't discount that. germany seems in trouble i don't know how that doesn't manifest itself at some point. >> two weeks ago we were looking at brexit resolving or hopefully the issue of brexit resolving and that was going to be an uptick for the markets because we couldn't get a china trade deal now we've flipped on it and says no one cares about brexit because we have china. i do believe both are head wind, equally as big, i'm still concerned with european growth or lack thereof. >> coming up, stocks surging to kick off the year with the s&p 500 up 14% so far, but the chart master says there are a number of stocks that have come too far to fast. we'll get some names and shares of lyft closing at the lows of the session for the

second day in a row. what is wrong with this new ipo? the traders will weigh in. live from times square in new york city. more "fast money" after this measure up?

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welcome back to "fast money. lyft's stock in reverse. how many more puns could be a bad omen for the next set of big tech names to go public this year like uber, slack, and pinterest it was supposed to be a hot ipo. what went wrong? >> i think positioning as far as the timing of the ipo. quarter end, month end you had a lot of guys playing around with it but i do believe people are going to want the calendar for the rest of the ipo market, so i don't think it will affect that per se >> the good thing could be that maybe the other ipos will be more rationally priced >> yes, but the next one we have coming up that's comparable to this is uber it has a little bit of a different story. it's up to international growth. it's got uber eats i think there's enough differentiation among the ipos coming out that this selling offer is probably not going to be a big deal. you have just a minute of

euphoria over this last week people were talking about the end of driving as we know it, which i happen to believe, but it's not going to happen over the weekend. >> you already knew that growth was slowing. we already knew that growth was slowing and we work, that's coming out at the tail end of the ipo market, lost $723 million in the first half of 2018 >> i don't think growth at slift gone i think it's increasing. the loss is increasing with their revenue growth and market share growth, they're 40% where they were 20% a couple years ago. there's a price for everything how they price this thing, the syndicate was very aggressive. and we had an analyst on the day before saying her target was 84 bucks. we got up to 87. the stock's pulled back 20%. good for the company and i guess you try to get as much as you can, but also part of what you try do is leave a little meat left on the bone i think there is a valuation for everything i don't think this is a disaster transportation is a service, what people want to own.

i think it has a bid >> but the ipo itself, what does it mean for the retail investor when they see stock prices at 72, trades up to 86 and then effectively two days later it's trading below the ipo price of 69 they say to themselves, i hate using the term, because i don't believe that it is, but -- you know, people do watch these things and they say look at this so i don't know if it changes the psyche, if they sour on the market jim cramer talked about this being great for the marketplace and retail investors and everybody was talking about it now everybody's maybe talking about it for the wrong reasons >> good for the retail investor if there's a perception they could make pun off money off of. at 69, would you now >> i want to see it trade for a couple more days but yeah, i think this is a company that you didn't expect them to be profitable here, you weren't talking about the gross margins and i think at these levels it

starts to get interesting. >> i think you have an opportunity. i said on friday, you have an opportunity before first-quarter earnings, before may 15th, to buy the stock. it might take a couple days to get this indigestion out of its system, but once you get these flippers out i think you have a shot >> you have a handful more of these poipos you have to decide which ones to hold i think they'll want to hold uber over lyft i wait till the smoke clears a bit longer >> an ipo like this, trading like this on the second day of trading, do you buy it before the lock-up expiration >> to me there's no compelling reason to jump into this thing in my opinion, to jump into it right now, despite the fact that i was an employee for a day and i did yeoman's work. >> you wore those gloves >> and the hat >> did you havethe pink mustache >> no, but it was in my car. you're supposed to put it in -- >> you still have on it on there?

>> you can wait. i think earnings may 14th. no reason to do anything till on or about that date >> for more on lyft, go to cnbc.com you're watching "fast money" on cnbc here's what else is coming up. >> going way too fast. >> as markets surge to record highs, the chart master says a number of stocks have rallied too fast and too furious he'll explain what in the charts has him pressing the sell button plus -- you're listening to nc musk. that's right tesla ceo elon musk dropping a beat over the weekend. and it could be a good sign for tesla shareholders we have those details. there's much more "fast money" right after this

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technology stocks were the biggest gainers, industrials which were drugmakerly sold at the end of the fourth quarter, they snapped back as well, they're up 19%, and energy stocks were strong as oil rallied to nearly 60%. that's almost a 50% gain

not surprisingly, some of those most oversold stocks at the end of the fourth quarter, they've been the market leaders. this always happens. the energy names like hess, guess what, up 50% as oil rebounded. celgene jumped on the merger news, that bristol-myers story, c c 90% of the s&p 500 up in the first quarter. that's rarity. for the second quarter, all about the economic data. global markets rallied because the china manufacturing data was much better than expected and it played perfectly with the bull narrative that china's economic weakness will bottom soon. now, and we had better than expected ism manufacturing numbers and construction spending numbers, 10:00 a.m. eastern time today, the market took another lift to the upside, particularly buy yields moved up, banks moved up as well the calendar is a big help for the bulls. april is the best month for the

dow industrials. it's been up 13 straight years in april and the third best month for the s&p 500 after december and november the calendar smiles on us. melissa, back to you >> bob, thank you. bob pisani at the nnyew york stc exchan exchange who believes in the calendar still? >> i do. maybe my emerging market background, but the best time for equities is early march and april and may and sell away. some is the seasonal side of investing year-end allocations some of it has been you've seen the volatility over the summer, a place to stay away >> i think we're frontloaded as much as the calendar is important and you have to pay attention to it, the seasonality is important, but a lot of this is frontloaded such an aggressive balance off the december low, it's hard to imagine what goes into the calculus and what's not in and what's in and seasonally adjusted i think it's more of poxing for a lot of these accounts going forward. >> bob mentioned a few stocks that led the charge in the first

quarter. i don't know if you were -- >> i listened to him, but hess, up 50% >> cody. >> i locked in what sticks out to me? boeing did he mention boeing? probably not but he mentioned industrials >> that means you weren't listening. >> i was listening i was absolutely listening i'm adding another name to the list and if you look at the amount of volume boeing traded duringthe trough of that news cycle, it was ridiculous boeing doesn't trade like that i think, and we said it two or three weeks ago, there's a very good chance of coming back a month, month and a half and boeing will be right back to 430. it's gotten $20 back >> our next guest says it's time to take profits in some of the big winners but still one name looking like a buy the chart master is here to break it down. >> more than one to buy and two to sell but i have three names for you. we heerd from bob pisani, the best quarter q-1 since 2009.

well, the preceding court r quarter was the worst since 2008 you bet a big ricochet after a plunge we heard 90% of all stocks were up in the first quarter. 98% of stocks were down in fourth quarter so we have this v, and is it enduring or not. but we know it's done is basically return us to the level where the market has stalled out before right? so the actual equal weight s&p as opposed to the actual -- the' v equal weight couldn't make the high as i would draw the lines i think basically we have been in the process of topping for the better part of 14 months this reading right here, right, that's january of 2018, that was the highest weekly rsi recorded including 1987, 2000, and basically we've never progressed since then most sectors have yet to go back above that high and most globals with the exception of vespa. my own humpbl is that we've had a nice rally, all very

impressive, but we have the risk of this kind of thing coming a that it's not just this great off to the races kind of thing even if that happened, i would suspect another trap and we have the ultimate in a topping out formation. the data has been topping. and bond yields tell us this anyway, let's pick some stocks here we go so two that are a little hot and overdone, american tower, chi poet lee three months you can see the spread and six months. american tower is an important stock. but a basket of these two names, combined $100 billion market cap. we have something off the chain. a 60% move as anning a redpat. look at the individual stocks. it's the i sam circumstance. american tower, reets are so

important, this is the biggest one in the world we have towers all over the world. we use it when we use our cell phones almost $90 billion in market cap and my thinking, you take some profits. no incremental buyers. another one, chipotle, not as important but still $20 billion, also down today, just a little too hot and the thinking here is take some profits, a little too steep. by comparison, considering stock like this, which has made no progress in a long time but is setting up so well, charters like to draw lines we can draw them one way, like that, head and shoulders bottom. the implication is a breakout. you can draw them like this. the implication, a breakout. like this, well defined wedge, taking out the highs, breakout or you could just say, hey, look, it is a breakout it's already taken out the highs. always something to buy and sell things that are too steep, take

profits. things that have made no profits in six months, put some money to work >> carter, come over to the desk evan will bring the chair over it's the fake music because we're not allowed to play -- >> like a fritesi igreeting or . >> in terms of the chart, i would think that chart looks like a lot of different charts in the market where is the stock hasn't done too much it had sort of that big bottom in the month of december and it's back to levels it had been at the -- >> to some extent. there are a lot of stocks that made new highs certain tech names utilities making new highs certain consumer discretionaries. and a lot of names are nowhere near their highs industrials, financials, and so forth. the whole group, the thing that appeals is how well they act truckers not good, airlines, not good, fedex and u.p.s., and

rails, they're the defensive element. people are hiding there but that's not necessarily a bad thing. people hide in very defensive names. microsoft is defensive visa is defensive. if you looked at the v, the plunge, that six-month period, let's say we're back to where we started. guess what's led in that six months number one, utilities, reits, techs. that's the story of the market the ricochet is impressive but we've just returned to where we were now the market has to prove itself >> norfolk southern, we saw airlines, truckers, the rest of the transports do well and amt which was bought because it was the biggest part of the reit index. i look at that market and say everything that's happened, all that defensive moment has changed.

>> that's the reverse of what i was saying if you look at the six-month period, things that have led, utilities, staples, on any given risk day you can look at your charting services. it's industrials, financials, materials on top, then it flips, goes utilities, staples. what we know is one day doesn't change anything. the key to rails is they are actually defensive, and i like them, but it's not quite the bullish thing it would suggest >> if earnings disappoint and if theyer not fa eare not already d in, if we're tilted towards the consensus angle it would be terrible on the eps front and the guidance front, if they fail to to point they surprise the market, where can the s&p go in your mind, the checkback levels? >> talking about 2,600 and that's as good as reference point as any, meaning we're right back at the highs, and why

individuals have new high, like amt too hot, global equities, it's not my stat, it is the stat they peaked in january of 2018 there are no that are higher than that except for one or two and it's a proven now, right, because what happened was we dropped more than 20% frommen all-time high, that's only happened 11 times in the history of equity markets for s&p and yes we've recovered but just getting back to where we were, now it's proof >> carter, good to see you thank you. with the beard still thought you got rid of it over the weekend. >> like a young glen campbell. >> nice call "rhinestone cowboy." >> how do you reconcile the technicals or what carter charter has laid out versus what you view the markets? >> so he's talking about the s&p and clearly the defensive elements are hard to deny what's opinion working but you also have the stuff that really was kind of bombed out and is now or

started to pick up some life so i still think that materials, industrials, the rest of the world, it's hard to argue that that stuff which was really badly beaten down hasn't been leading a bit. and i think that's encouraging to me. i would stay in that trade still ahead, casinos hitting the jackpot today on better than expected numbers out of macau. now the perfect time to play catch-up find out when "fast money" returns. premium entertainment on the infinity screen! people have seven different premium entertainment options to choose from. 'cause people are different. like how you cut the crust off of your sandwiches, and i eat them. and i'm pretty laid back and casual, and you... iron your jeans. i'm actually very happy you noticed that. cool... that's cool. at&t has the only unlimited plan that gives you your choice of top-tier entertainment. buy a new galaxy s10e, and get one free. more for your thing. that's our thing.

welcome back to "fast money. check out shares of activision blizzard heating up as it's added to a best ideas list pointing to outsized growth. that's our "call of the day. the shares had cooled off recently down more than 40% since its highs back in october. the gamer stocks have been mixed this year with electronic tarts up 30%, activision blizzard flat, so is electronic arts emerging as the winner or should you buy activision to catch the rally? tim? >> i think you should buy activision based upon the fact that really relative performance

is totally underfmperformed on valuation. the "call of duty" release has been kind of eh. "diablo" is something people are more excited about ea has started to rally back but they all got destroyed people have understood it's a valuation story. you give these guys three bucks in earnings it's a $60 stock in my opinion net cash. >> it makes sense because it went from an all-time high of $82 or so down to about $40. that did it over about a two-po period of time to get you to 60 gets you a retracement of that move and on valuation you could make a compelling argument. i agree with tim >> i think you buy all of them think about google and apple, what we've heard in the last week or so they'll be hunting for developer, more content. it is a huge tailwind for all three companies. i believe you can buy the laggards and the outperformers >> i'm going to give you an unconventional pick on this one. why not disney

espn, you know they're going to be a big part of the esports and egaming business by broadcasting all of these, so that's -- >> you a big gamer >> am i? i play pong pretty well. >> like if you had an avatar, would it have a flat tie >> i don't have an avatar. >> what does that mean like that movie. the blue people? >> sure. yes. it's exactly that. >> a twin. >> no you don't. >> i have a digital twin that's the bigger play your nike sneakers that are digital, maybe a cardigan or something that's digital >> what was that >> it was a -- >> hol dprogram. >> i'd like to be alive and have a hologram coming up, google it, wynn gaining on the back of numbers one trader says the rally is just getting started

and musk is a music mogul. the tesla ceo dropping a song on twitter yesterday calling it his finest win yet is there another distraction we weigh in when "fast money" returns.

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welcome back to "fast money. the casinos soaring today, cashing in on better than expected revenue from macaw in march. the space could be about to hit it big mike has all the action. hey, mike. >> so we did see about two times the average daily options volume in both las vegas sands and wynn today on the heels of the numbers we saw coming out of macaw. the lot of those activities for bullish. one of the ones i'm looking at in wynn, the weekly 1:30 call, by 11:00 this morning about 2,000 had traded for about 75 cents. the stock traded higher throughout the day and closed around $1.50, but when you consider it's close to that $130 strike price now, anyone following that activity is getting a better deal if you buy those calls betting on the stock going higher las vegas sands, they were

longer dated bets there but probably betting on an 8% to 10% upside move by the end of april. bear in mind these companies will be reporting earnings and in the case of wynn reporting the 23rd or 24th of april, after april expiration, but if you look at the main calls those look reasonably priced if you're inclined to make bullish bets here >> where do you stand on these numbers? >> i think macaw is better and has been slowly building i like about the numbers, they haven't just v-shaped overnight. a beatdown over the last 12 months or so, the trade war has not helped if you believe emerging is moving, shanghai is moving, you want to own the casinos. wynn is increasing cash flow next year. i like this name >> this time last year gaming revenue was up 21% year over year but hast month's numbers weren't as bad as the market was looking for. this time last year this was basically a $200 or so stock, so although you saw that dip from

$129 to $115, which i didn't see coming i think there's upside in the stock. >> if you believe china is improve. >> then they should do much better and the stocks are responding look at the way wynn traded today. fantastic. i think you have a trade here. >> check out the full show mike, thanks mike khouw, thank you. still ahead, emcee musk releasing a rap song over the weekend. is this joke just another musk distraction? plus schcheck out our cramer cam the companies that could benefit the most from the ipo rush ve f is at the top of the hour lirom the nasdaq market site in times square. much more "fast money" still ahead. ♪♪

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♪ >> kind of catchy sh right it's called "all right harambe," a tribute to a gorilla who was killed three years ago and became an internet sensation to be fair, it is april fools' day. one year he joked about tesla

going bankrupt, not that funny, but they spent the rest of the year fighting off delivery worries and musk admitted in november the company almost went bankrupt because of the model 3. but they're not the only one getting in on the fun. tinder a height verification feature so your date doesn't fall short of expectations and google tulip lets you talk to your beloved plant, tulip, obviously. mcdonald's stirring the pot by introducing milk shake flavored dipping sauces that had twitter up in arms should publicly traded companies try to get a laugh like this in the first place? is april fool's fair game? >> well, you know, to me, elon's case, it doesn't surprise me and sometimes we don't even know if it's real or not so i'll leave that one alone but when he tweets he's going bankrupt, maybe that was

foreboding mcdonald's and the funny sauces, if people trade on this news and the company is giving disclosure on something, i don't think it's great. and in fact, i ultimately think that it's a dangerous place to be putting out false information, even if it's aha ha funny. >> how is this different than a super bowl ad? trying to get my head around it. >> there's no such thing as shake sauce. >> everything they do, i get it, but we're talking about should they or shouldn't they, i don't think they should, but i think they're trying to be sort of the it company so i think it's sort of the same for me as a super bowl ad but i don't think that they should do it went it comes to april fool's >> you know, i'm sure elon musk thinks he's amusing and maybe he is, but the environment we find ourselves in, given his past and what's been going on, he's walking a fine line. personal personally, i don't think he should be doing it it's ha-ha, funny, wherever they are in palo alto or whatever,

but i don't find it funny in times square >> it's april fool's we all know these are jokes. it's okay to half every once in a while. maybe he shouldn't have done the bankrupt thing probably tot the funniest joke, but it's april fool's, it's okay for companies to poke fun at themselves and everybody else. >> 50 bucks if you can say who said light it up, frances? >> you know i can't do that. >> we have an april fool's -- >> i have no idea. >> we have an april fool's joke on the desk. look at tim. >> how is that an april fool's joke i'm dead serioushe wn i put it up this morning. >> i'm sure you were >> up next, final trades you'vd to grow your wealth. make sure you're working with a wealth manager who can grow with you. cfa charterholders have the investment expertise to unlock opportunities other advisors might not see.

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time for "the final trade. tim. >> talked about the gamers and casinos. i like this valuation and i think we've got some momentum. >> we started the show with a better economy, better china why not copper and gold? >> grasso. >> with the gaming take 2 interactive >> were you surprised that duke

went down yesterday? >> so surprised. shocking totally shocked. >> they weren't in beat georgetown. >> see you back tomorrow at 5:00 don't my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull mrkt somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. my job is not just to entertain but to teach and put in context. call me at 1-800-743-cnbc or tweet me after today's phenomenal run, dow surging 330 points, s&p jumpin