then that's perhaps a sign that the bounce back today was overdone another point to look after, lyft earnings. >> interesting to see the presentation, exactly what they emphasize and, you know, what the market is planning for first for an ipo is always interesting. this one in particular >> people are joking on twitter last night that uber has to postponed the ipo because so volatile in the market. >> that will be coming tomorrow after the close. that does it today for closing bell >> "fast money" begins right now. >> "fast money" starts right now. i'm melissa lee. traders on the desk are tim, brian, dan, and guy. stocks making a major reversal one top strategist says despite the move, this market rally is still at risk. he'll explain why. >> plus, getting slammed today, down 2%. one top tick in addition says there are two names in the space. they start off with a stunning market turn around

escalating the stocks. stocks climb their way back. u.s. trade talks this week and we just heard, we are expecting some sort of update from treasury secretary shortly. we'll keep you updated with the very latest n the meantime, is today's action proof that this is a buy the dip market? guy? >> yes well, yes, it is proof it doesn't mean that i believe it it doesn't mean it should happen i would say the market is on the lows trade lower the rest of the day despite any headlines that came out. here we open on the lows and rally backrest of the day. the market seems impervious to this stuff i'll say it again. i said it for quite some time. i don't -- i think we all believe, at least most people believe that when a deal is ready to be made, president trump wants to pull the trigger. there is a deal that will be made i don't believe that i don't think the chinese have

any interest in making a deal. nor should they quite frankly and the kusht environment. so i do think this is a going to continue to drag out it's going to matter for the market. >> we do know at the very least the chinese delegation is going to come to new york -- excuse me, to washington this week. the vice premier may not be in attendance we don't know that yet isn't that a sign that chinese are still committed to the talks and making sure that at least progress is not lost >> yeah, look. chinese, they said we're never going to negotiate with a gun to our heads. the sense must be if they're still coming, the markets want to believe this. this was the really the breakneck rally into kind of the second half of the day after meandering the morning so, yeah, if you want to follow those dynamics at work, i kind of agree with guy's, you know, eventual dynamic with the market i would take the upside. >> we have breaking news out of washington let's get the details. >> i just left a meeting with the u.s. trade representative

and the treasury secretary where they confirmed the increase in tariffs will go into effect friday at 12:01. so at the end of the day on thursday, the ambassador saying he is going to be putting out the paperwork to affect that in the next day or. so over the weekend, there was a substantial retreat on behalf of china where they backtracked on commitments that underpinned the entire deal. the treasury secretary called it a big change in direction in a process that he said had been making substantial progress. both cabinet officials said that the president was willing to xe extend the truce with china so long as talks continue to make bro gres wh progress. when they said that china had been retreating, there was a significant backsliding on some of these issues that president was committed to putting this tariff increase in place at the end of the day friday. that being said, the treasury

secretary said there is an opportunity for talks to get back on track. they didn't talk about the likelihood of a deal happening this week, this month, this year but he said there was an opportunity for talks to get back on track. the vice premier of china expected to come to washington as part of this delegation he will be arriving thursday with those talks happening thursday evening and friday. although, you'll note that timing does intersect with the higher tariffs it seems that genie is not going to get put back into the bottle. tariffs are going up thursday evening. even as u.s. officials are optimistic that there could still be progress made >> any word on the additional $325 billion in chinese goods that could be targetted? >> no comment on the additional imports of chinese goods,

specifically the administration wants to folk cus on this incree in tariffs there is a belief this will be the leverage needed to get china to commit to what it had committed to before. we'll see later this week. >> okay. so again, the tariffs that were 10% go to 25%. also we understand the vice premier will be in washington for the next round of trade talks. we saw the spy etf trade >> the market wants to see progress now to guy's point, at some point in time it matters but right now as long as there is progress, and the fact that the chinese are still coming is progress this is not the best news out there. but if it's part of the negotiating process, then i think we're okay if you have a sustained tariff at 25%, a sustained trade war, that will erode confidence as long as there is progress, i

think you're okay. >> you know, we all are -- before the 325 number was kind of bandied about here, we were asking the question, what is going to happen to the tariffs that had been put in place last year and they were likely to stay in place. so if we get to this very narrow deadline on thursday evening at midnight and there is new tariffs this is an impact on global growth. it's just that simple. one of the things that we kept on hearing throughout earnings season going back to january, q-4 and then q-1 guidance that we got, there is a level of uncertainty. so the likelihood that global economy is going to turn on a dime when we get a deal is not great. these tariffs are not going to come up. it is really important to remember, one of the mechanisms put in place to help us or help the chinese comply with these deals was the ttp and that was ripped up. all these issues are really important issues the tariffs are likely to stick around for a while. >> what is really interesting is this all comes from the trump administration markets are at all time highs and some sense of euphoria there is a sense of we have room

do this. it's time for tough love this is exactly -- this is where we were in january 26 essentially right after that blowoff top. i was probably february and definitely, you know, first couple days of march where we started to get the real tariff talk we already started to get. there you look at where the s&p 500 was, you had a 78 nine day rsi. stocks were way overbought just a few days ago if you look at every indicator, that is really where i think if you're a pessimist here about what the administration is going to do, right now they feel like it's more politically expedient to get the points of saying you know what? we're going to negotiate, talk and back out of the deal this and that. >> he's getting the points along the base he is also getting the points among democrats who also back the harder stance that he is taking on the chinese. so we are here at record highs as tim mentioned we have a 3.2% gdp print we have inflation that is extremely tame why not drag this out? why not be the tough guy he's winning points on all

sides. >> especially if the market doesn't renakt a very negative way. the fact that market came back and was unchanged, i get it wasn't unchanged, that's will go to embolden the president. he has to look at today's actions and say maybe i do have equity to play with in terms of what i can do with my rhetoric and what the stock market will take >> the problem is the longer you drag it out, then it does impact the market he's the stock market president. so if -- let's say i'm the chinese and the u.s. stock market is falling, that puts more pressure on the united states there is a small window here for this tactic. at the same time, didn't we stair into the abyss of the market it wasn't that bad i mean dow down 470 at the low >> down 2% >> i mean, look, the market -- >> off record highs. >> down 2% in a volatility environment that has been basically zero that was a big move for this market i think that is appropriate. >> i it this was a appropriate

first response and again, these are tweets from over the weekend that could have been just, you know up late, bored, needing popcorn we've seen this before if they're showing up to day, market rallies back this could have been just that. except it's not. and i think this is the dynamic that markets really need to think about. there were awful numbers out last night the european pmis were not good this morning there is certainly this tenuous global economy that i agree i think everyone on the desk is saying this is probably not grate time to be doing this. >> here's the number just look in the next couple days, we're likely to have volatility we won't have any big announcements. this delegation is coming and you have this deadline on thursday i think as we get close to that, if we break today's low, i mean that is a level where i want to

be careful you could have a 3% to 5% pullback >> 2898 on the s&p 500 >> all the stocks made a big reversal our next guest says this rally is at risk that could be a buying opportunity. let's bring in the chief equity strategist at btig great to you have with us. >> clear as mud, isn't it? >> buy the dip >> that's been the operating mantra for the last 3 1/2 months in our view, there is an element of risk that is injected here. you know, basically, i think it's a very good point today's lows are going to be something that everyone is going to focus on. certainly until friday when we know what the vice premier's -- you know, how his dinner was thursday night and whether those tariffs are going to for sure be on or perhaps something different. the vix at 12 as it was on

friday in an we have geopolitical risks like this and with questions about global growth, just doesn't make sense to us. so in our view, you know, will is the potential for near term pullback >> so on that pullback, i'm wondering, some people are saying that even if there is a deal that is to be announced at some point in time, that will be a sell the news sort of event. so if the deal falls part and the deal gets done, it's a sell the news vent. at record highs, should we be long in this market? >> if you're a long term investor, you want to basically not look at the screen and sit and stand pat. because the one thing we do know is that upside and long side and if we go back to the last six months ago, we've seen plenty of volatility down side and upside. there is going to be more volatility ultimately, what we think is if you're president trump and you have cut rates

that's going to dampen global growth the fed may be forced to become incrementally more dovish. so julian, i want to pick up on that part. in your notes, you were saying we may get two rate hikes. rate cuts out of the fed s that to this year >> yeah. >> and the market is not pricing that at all. so what happens to the equity markets with two rate cuts >> well, again, it depends on the path that we go to there is no secret about the fact that and we get the eventual down turn and part of what and the weekend was seen talk of this slow growth environment has made the probability of recession nonextentist in the near future. it's going to slow down as the economy slows down

and in fact, we've seen that over the last year when you think about the global picture and in general either the gdp slows down and it's one number in the second quarter and it's not going to be a two number you dwin thcombine that with th concern about inflation. there is a very interesting case for the fed to go twice and if you go twice this year, you are out of the way in there really is a down turn coming into an election cycle there are two hikes, two cuts. we have a dynamic where oil and copper rallied today that makes sense to me on some level. you're trying to break out and that would be to me more about central bank divergence once again. >> look, we agree. in general though, if you look at yes, the dollar has been

trying to break out. it's a very muted breakout within a pretty tight range. you know, what we would say that would be preventing the dollar from getting much, much stronger is the fact that we're going to have to finance a trillion dollar deficit over the next 1 months and that looking forward to the elections, there are going to be pro spending policies all over the place. and on balance that's a negative >> it's interesting you think two rate cuts. obviously the president if he's watching, he is a fan of the show he's applauding you now. wouldn't these be transitory events and to janet yellen's comments this something they should look past, no >> it really depends i think one of the things that surprised all of us is if you look at it, the numbers are picked up in china over the last several months it is also by the way a reason that china made decide to get tough and say okay, let's see

what the problem is. the thing is we all thought there was going to be lots of flow through to europe we haven't really seen that. and that's a concern >> 3,000 is your target. >> yes. >> so do we need the two cuts in order to get to 3,000? >> not necessarily but we need either that and heaven forbid brexit to work out. >> julian, thank you >> i think it's important to remember, you know in, the throes of that selloff in q-4, we also had an unforced error by this administration who got tempermental and walked way from a deal and the government got shut down. so into this trade war we had what was supposed to be a tax cut to the prior error and walk way. we've seen this time and time again. we've seen it in north korea walk out of a meeting in singapore. these are not the sort of things that get ironed out very quickly.

this is going to be part of the rhetoric w the s&p 500 up 17%, on the year, the best case scenario, if you were a bowl and want to get to the target and above the prior highs is that we come back. maybe towards 2800 then you get a scenario to new highs and election year which are usually pretty strong. >> julian talked about long term investors and how they should approach this i agree with that if you're not that, you know, follow the playbook that makes a lot of sense to me which is semis are going lower. apple is going lower anybody who is right here and alibaba and i would argue they're not a global trade company. those are the trades in the next couple weeks to me that you continue to lean on. >> do you still buy the dips i think for the longer to medium term investor, yes, you do if julian's point, what happens if we get a weak stock market?

what happens if we get a weak global economy we get a federal reserve that is much, much easier and that's going to force money into stocks so let's talk about 6, 12 months time frame going into the election year. that is the bullish part in the meantime, i agree with dan. we find that u.s. pulled out of the stocks >> more than what we've seen below today's low? >> it should have happened today. i thought the market should have been a significantly lower given to your point the run we've had. i think going back to what tim said about the semis, i agree. i think a name like texas instruments at $116 is giving you a huge opportunity to get out of the stock you've been long and go short if you want to this stock is too expensive. >> coming up, despite the market pullback, semis sticking to day. this could be your chance, your

best chance to buy the group we have the details. plus, the boeing fallout continues. the stock under pressure as more details drip out about what the company knew and when we got a special report and later, lyft gearing up for earnings after a rocky road for the ride sharing company since the ipo. we'll tell you traders are betting on more roadblocks ahead. we're live from times square in new yo cy.rkit you should be mad at airports. excuse me, where is gate 87? you should be mad at non-seasoned travelers. and they took my toothpaste away. and you should be mad at people who take unnecessary risks. how dare you, he's my emotional support snake. but you're not mad, because you have e*trade, whose tech helps you understand the risk and reward potential on an options trade it's a paste. it's not liquid or a gel. and even explore what-if scenarios. where's gate 87? don't get mad. get e*trade and start trading today.

welcome back to "fast money. a day after a new report suggests they may have been keeping airlines in the dark about a key safety issue with the 737 max. phil lebeau joins us with more on this developing story phil >> melissa, it seems like as a story every couple days about something that boeing may have known or did know and then didn't tell either regulators or regulators this has to do with angle of attack indicators and a disagree alert that was inoperable in some 737 max's not all planes had an indicator alert. and boeing did not disclose this to the faa that this was inoperable was not working due to a software problem until after the air crash. then after they told the faa they also told some airlines

like southwest late last year. they didn't tell other airlines like united until a couple months later the faa says this issue in terms of notifying airlines while it may not have played a role in the crashes for lion air, they're out with a statement saying the timely or earlier communication with operators would have helped to reduce or eliminate possible confusion we should point out that as you look at this issue and this question of what boeing knew and when they knew it, the company was out with a statement saying the senior management of boeing was unaware of the inoperable alerts and this issue until it was first notified after the lion air crash there were other people within boeing who knew about it but they were not telling senior management at the time boeing director, the first time we heard from a boeing director out with an interview over the weekend in "the washington post," essentially defending how they decided, how to handle the

737 max cross-ice whis the second crash happened with eej oebi ethiopian airlines that changed a few days later. so guys, this is a stock that remains under pressure down in that 365 to 375 range when it comes to these issues with 373 max continuing to drip out in what seems like every three or four days another story. >> phil, as i understand the report, as i understood the report, the inoperable alerts, boeing had had determined internally that it would not affect the safety of the airplane >> correct >> so in the end, would that have made it -- if the alerts were operable woshgs that have made a difference? would that be a deciding factor? >> no. it does not appear that is part of -- that wouldn't have prevented the crashes from happening. there is no indication that it led to those crashes happening the issue is you have something that is not working on an aircraft why weren't the faa as well as

airlines notified sooner why was it kept undisclosed for months >> phil, thank you phil lebeau with the latest from chicago. this gets to culture, right? and is the culture in the company for profits, for keeping things quiet, for, you know what i mean >> it seems like as phil says, seems like every day we have another story about they didn't tell one airline this or that. in terms of do you invest in boeing stock do you trade boeing stock? i think you stay away from it until this is resolved there is clearly something going on with the culture at the company that we don't have a handle on yet. so for me, it's a no touch >> i just don't think anything is really changed in terms of the culture of the company in a long time. despite the tragedies, i don't know that's a bad thing. they're not going to stir up i think unnecessary dynamics if they don't have to as it relates

to safety issues on a plane. and i think there is probably some responsibility to also not do that. so i don't think this is a great time go in and buy boeing that you have to. but if i look at the long term impact on what this means in the short term in terms of what they told you three weeks ago in terms of two weeks ago, i think in the short run there is a head wind n the long run, doesn't change anything. >> it's not much has changed and this and that. if this was a consumer product -- if this was a consumer products company, i mean this stock would be so much lower than where it is you may be right >> this is a company where safety issues you think are more important than a consumer products company, no >> you would think so. everyone has a vested interest in planes not going down, let's be frank to the question about assurance, there is lot of stories that "new york times" is doing a lot of stuff on this that -- >> leaving debris behind >> there could be some huge, huge issues. there should be some management

changes here big stuff is going to happen there. >> i get that. the question was, has something changed in the culture of the company? i'm telling you nothing has changed in the culture of the company. that has been going on for a long time with boeing. they haven't changed anything. >> my question, is is the culture finally being revealed tonight be one that will turn out or hold quality above profits, quality above expediency >> quality and safety, i mean it seems like they come out and say i don't know anything about aviation but i know if an larm isn't going off and there is a software glitch and the company knows about it and they don't tell you, that seems bad to me why wouldn't you just tell people about it? so i do think there is something underneath that dwoent know. there will be a time to bite when everything looks horrible and this comes out in a management change. >> people agree but disagree on how to trade this. >> i think that is probably right. >> i'm not an apologist for boeing the headlines that we're talking about read much worse than the

actual story they didn't think -- they didn't think it was a sift concern. it seems -- >> what you are talking about? they're changing the will culture. >> this company is facing billions of dollars in fines and lawsuits it's going to go on for years and years. >> first of all -- >> you're going to see the ceo in front of congress some time soon. >> this month. >> okay. there you go >> you're right. >> more more, head over to cnbc.com your watching "fast money" on cnbc first in business worldwide. this is what is coming up. well, lyft has been anything but grease lightning since going public but could the earninged report tomorrow kick it into highea gr? we have the details. there is much more "fast money" after this

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welcome back to "fast money", the market bouncing back chip stocks getting left behind and down almost 2% to end the day. bob hipisani breaks it down. >> semiconductors were down. the low print of the day was the open for virtually all the semiconductors including intel, texas instruments, qualcomm, nvidia, micron most were down about 4% in the first few minutes of trading and closed with losses only about half of that so here's the bigger question. why is this semiconductor etf more than 30% this year? many chip companies get more than 60% of their revenue from china. the smh which is a basket of the top 25 semiconductors in etf, it is rallying even as commentary about the china business has

been very cautious here. so the bulls have been saying, semiconductors and stocks in general, they've been rallying because earnings have been not as bad as feared all right. that's true. but the semiconductor commentary doesn't reflect the consensus that weakness in china bottomed. take a look at this texas instruments, for example, weakness in sales will likely continue in china intel noted acute deceleration that is their word, in demand for chips in china lamb research that makes the machines and chips said that a spending correction from its clients continues. and qualcomm said the weaker revenue guidance reflects weakness in china that is on going. only taiwan semiconduct soundedh to me. here's the bottom line, trades have come to believe that after a more than 25% drop in semiconductors from october to december of last year, the worst is behind us all but a lot has to go right for that to be true.

including a bottoming in the chinese economy and separately but related the conclusion of a trade deal back to you melissa. >> all right bob, thank you bob pisani at the nyse dan? >> that was a lot. bob nailed it as far as guidance is concerned the question is, why is the smh, you know, which is made up 35% is intel taiwan semi why is it up 35% of the year it got nailed. it underperformed last year. i'll make one point. we talked about this last week a lot of people have been pointing to apple and what they had to say about china and how much that changed versus the preannouncement in january. they got the benefit from the chinese government getting rid of the vat they discounted phones dramatically it seemed like a reset of a massive dropoff tend of last year i wouldn't be taking the apple data point over what intel and texan told you directly. >> i think qualcomm is its own animal i don't think this quarter is

indicative of what they will be a year, year and a half from now. who knows when it's coming i'm ready for it i just want you to know now. i will tell you, i do know, the 5g rollout is going to be tremendous it's not just one more than 4. it's huge. i don't want to get too granular here but you know what i'm talking about. texas instruments at 21 times next year's number, when they told you things are slowing down off a double top from january of 2018, in my opinion, that's a sale >> sounding all charty there. >> very charty >> next guest says history is any indication this could be the perfect time to dip into chip stocks oppenheimer's harry wald has the details. he's an actual chartist. >> hi, melissa yeah put us in the bullish camp we're of the view that pullback in semis, even fit were to continue is viable the worst is behind. and we are in the early stages of a new upcycle that's what the charts argue for.

here's what i'm talking about. now looking at the semiconductor etf, soxs, the cycle i'm talking about is a 20% decline followed by a new high above year long resistance you're moving above a prior peak from a year ago. we've had this a few times we had it in 2011. new high came in 2013. this was followed by almost a two year rally into the 2015 peak another reset in the 23% decline. break out in mid 2016, terrific rally in 2018. now there is no way to know if the trajectory is going to be the same and assume it will be the same as long as you're above the breakout level as long as you clear the resistance from 2018, it's 200 on soxs. two names you like here. first one is broadcom. this has been the steady

leadership name. this a stock that bottomed ahead of the market. made a lower high. this is december right here. everything else was in absolute free fall. it broke out to the up side ahead of the market as well. that breakout point, 285 now support. this is leadership this is momentum this is the type of stock that historically has outperformed the benchmark. stock you want to own. next on our list, lamb research. hasn't broken out yet. still is a prebreakout idea. still below resistance from 2018 but it has cleared an important level that i think you want to keep an eye on 198. this was the breakdown level going back to last summer, we -- there was brake in trend we fell below the 200-day moving average at 198 now we're back above it. i think that's meaningful. i think at the least the trading action should be considered positive while we're above it.

we have an uptick in the 200-day moving average some higher low there's. we have a bearish to bullish reversal here. semis, broadly based too it's not just these names. taz cro it's across the board. wau you want to participate this is a new upcycle. >> so there's an argument that semis are an indicator of the market direction, that somehow it's leading indicator if you think it's on an upswing, does that necessarily mean the markets are looking okay too participation is broadening. it's been the right areas as well, semiconductors, industrials churning up. i think after that small bear market in the fourth quarter of 2018, markets breaking out to the upside this is a new bull cycle based on our work. >> thank you ari wald new bull cycle brian? >> it's interesting.

to me the semis are ground zero for everything we're talking about. bob pointed out about how there's been a deceleration in earnings and all that yet the stocks are going higher so market participants are anticipating this turn here. if you take the semiconductors and overlay them, you get a pretty good leading indicator in the semiconductors so watch the sector. they don't break the breakout levels in smh, it's 112 1/2 that's the support level as long as you're there and the market continues higher, i think semiconductors are a buy >> if you look at intel and essentially they absolutely reset expectations and so the stock is down 15% when it is 13% of the smh or the stocks or whatever you're looking for, that actually gives you a fair amount of a defensive quality to this thing here i think intel is the stock to own. on this weakness, i would stay long intel, not the semiconductors >> still ahead, lyft getting into the earnings report tomorrow, down more than 15% from the ipo price traders are betting on a bigger move

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this is the first one out of the gate the deal was priced at $72 the stock traded up. since then, traded down.

it found a home around $60 here over the last couple weeks we know that uber ipo road show is going on right now. this is a really big week for ride sharing newly listed companies here in the u.s. but the implied move in the options markets for lyft's earnings are 10% in either direction. today when the stock is $60.50, if you took the call and putt at the strike, that equated to $6 if that is basically implied move you want to bet that stock is going to move greater than the implied move you need a move above 66 1/2 or below 54 1/2 to the other side so that is the 10% move in either direction here. i want to go and look back at some other high profile companies, ipos, the first quarter that they reported there were some big moves there after the ipo. twitter was down 24% after theirs snap chat was down 21% facebook was down 11%.

and spotify was down about 6%. big opportunity for these companies right out of the gate, soon after they just did their ipo road show to tell investors how they're doing as publicly traded companies let's go to this we know that lyft got initiated by a lot of the underwriters and banks that weren't on the deal overwhelmingly, it was positive. average 12 month price target, $73.68 that is above the ipo price. obviously, favoring towards a move back to higher levels near the ipo. and then lastly, let's look at this chart here. we know that we had this gap opening after the $72, you know, the stock sat a bit and then took this leg down a lot is comparison to uber. we've seen this consolidation with 44% short interest, i suspect good news in this name could cause a little bit of a short squeeze. but again, really tough name to play with options directionally

with implooiz pliied volatilityh as it is right now >> thanks for that, dan. who has a feel for lyft and where it is right now? >> here's what i would volunteer. i think it's a big challenge when you consider we don't know what valuations are. we assessed what the sector is going to do in ermz it of disruption a lot is priced in the down move in the other big name stocks. this is down 20% into numbers. there may be even a chance for the guys to give you a little bit of upside surprise but the bottom line is expecting companies who are fresh out of the gates to be flawless on their earnings call is i think a tall order even though i think there is a lot of bad news in the stock >> the earning call is interesting. remember, we had a disastrous earnings call from snap. >> the first one was disastrous. not least of which is the tone i think they took. i think they learned from that and it's gotten better since dan came out preipo, $59 he is spot on in terms of that

think we will be having a much different conversation if this was priced at $62 instead of 72. i'm more in the bull camp than the bear camp. >> this is an interesting setup for uber's ipo i was wrong on this. now i think you need to stay away you have to go before the earnings can you wait and see i think there is too much risk that money comes from uber there is too much risk that they make a mistake on the call so i stay away >> all right more options action, check out the full show friday 5:30 p.m. eastern time the stock turning heads more than 80% can you guess what it is plus, larry robin shorting 3m as one of the big calls at the ndnference earlier today

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some of the brightest minds in finance are sharing their best ideas at the conference all for a great cause. the fight to treat childhood cancer our leslie picker is live from lincoln senter in new york city with the biggest market movers from today leslie >> hey, melissa. he just finished his presentation it was the last one to complete a very well rounded day. i gave a presentation discussing the democratic candidates for 2020 largely on critical terms. also moving on to talk about his fears surrounding the budget deficit in the u.s. and what it could mean for interest rates giving a big discussion about jay powell's recent pivot and how it is impacting interest rates. he did put up the recommendation he said by interest rate volatility on long mature treasuries via a put call straddle on tlt, he didn't explain exactly what was driving that thesis. he was concerned about the

deficit and the overall moves in the economy. health care was also a big theme today. larry robins touted longs and hmos and hospitals, specifically cigna, humana, united health, and universal health services. he also recommended investors short an index of pharma companies saying his portfolio is long, 16 short positions in the industry robin also caused the stock price of 3m to decline he spoke about the litigation risk that could skyrocket according to robins related to their exposure to a chemical called pfax that, is known to poison drinking watt easteer daniel slamming canadian cannabis he said recently he started his own firm d 1 capital partners after leaving viking he was cio to viking he said that the canadian

cannabis industry is close it a bust as about bitcoin was knowit canadian cannabis sector has enormous down side he also thinks that netflix is overpriced but on tesla, he said he finds elon musk a hard guy to bet against. now that stands in contrast with david inhorn who spoke earlier today. he's been short tesla for a while. there is a series of quotes ending with a xplative to explain musk's recent business model explanations. >> leslie, thank you and it's a family show so, yes, explitive is right. it was forced something. canadian cannabis. >> well, it's not easy to poke at valuations in canada and wonder what is going on here if you look at where it is trading add absurd valuation, you can't say the same for canopy it is a global cannabis company and used the early canadian resources to get a global view

so i think it's a growth sector and there is absolutely some stuff priced to perfection that does make sense >> where would you >> unh i go right to unh. it is too cheap. i think people starting to figure that out. the rhetoric is going to go away i get it there is a lot of time from now until then but i think you're going to start -- it's going to wayne all this rhetoric is going to wayne. i think you're going to wake up and say i should have bought unh. quickly, if you're quoting from a -- somebody's demonstration or somebody's presentation, you're not allowed to then use that -- no, you're not they're in my ear. i wasn't going to say it >> it's a curse word. >> but he used it in the context of a presentation. >> we don't want to official anyone, guy. this is a nonoffensive show. >> my daughters are watching >> coming up, it is a rally you can't make up. the surging stock was up 6%. eare than 80% this yr. we'll give you the name when "fast money" returns for your heart...

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it is our mystery chart of the day. this stock is having the best year ever, it is also the top performing stock in the s&p 500 so far in 2019 hmmm what could it be well, coty part of a rally for beauty stocks across the board. coty's year keep on? i'll go to tim see more.

i don't know why >> you're the expert >> i like skin and body care idea here. i think if you -- think about what is going on this wellness and fragrances and the other companies. this is a two to three year trade. the margins are extraordinary. you get to a place with coty this is a $10 billion company. i think that the sector remains very -- the margins that these guys are ink right now is something i think is extraordinary. you know, this is a massive move i don't think -- let's follow this company a little longer to see really how this thing settles n i like the space >> all right so the one thing about this is it has exposure to europe which concerns me a bit. the companies as they grow, they kind of get this reflexive quality to them that growth begets growth and investors pile n i don't think you have to necessarily sell it here but be aware that roughly 30%, 40% of the revenue comes from europe >> huge short interest in the name it's obviouslyhad a huge bounce but this stock has been grim

death nfor the last three years i think, though, can you own this the stock in the earning oz man 8th based on short interest, based on the fact in this environment people will cover. i think you stay long in the stock in earnings will pull the rip cord right ahead >> up ne, natresxtfil ad

welcome back to "fast money. jeffrey gundlach is speaking right now. he just wrapped up he'll be on the halftime report at noon tomorrow you won't want to miss that. time nour for the final trades >> tim >> you talk about semis and intel, i think they set up for a good second half in data center. they have the cpu coming out i think there is catalyst there. >> so if you're worried about global growth, you want to stick closer to home, you know what was really strong today? kre, the regional banks. >> boeing curiously held the 360 level. that is the gap level. i think it will break here of sell boeing on rallies. >> tim is being mean during the break.

he said i have hair coming out my ears. i'm getting a hair cut i have feelings too. hgh, too cheap, guy that stock >> does it for us. see us back here tomorrow at 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 people make friends, i'm trying to make you money. my job isn't just to educate, teach, context call me or tweet me. you know how i am on the show. i say there's always a bull market somewhere and i promise to find it just for you. there's a reason i say that.