like the obvious move, perhaps >> big week for bond yields, as we said and for oil still remarkably stable dollar it hangs in. >> good stuff, mike, as always thank you very much to everyone and please have a wonderful, long weekend that does it for "closing bell." >> "fast money" begins right now. >> "fast money" starts right now live from the market overlooking times square i'm scott wapner in for melissa lee. our traders on the desk are tim seymour, karen finerman, tim grasso and dan the top tesla bull and plus foot locker getting stomped on. the stock down 10% and one of our traders looking at the stock right now as we speak, literally right now. he has the details and we start with the fang inferno. facebook, amazon, netflix and

alphabet down 10% as trade tensions escalate. should we be about this fang mess. >> we've had these bouts where fang left and that's been a place for concern and if you think about times where people are questioning global growth it hasn't been in this environment and i look at netflix and facebook and those were rebounds off of very difficult decembers and falls deep into the end of the year and the fact that they pulled back aggressively after such an aggressive move higher not a huge surprise and google is disappointing and amazon is disappointing and all we've done this week is talk about retail and amazon should be the one that doesn't have these secular issues and these exist earn issues and they're the ones that everyone is competing with and it's disappointing and fang is certainly not the place you can run to here and the jury is out where you should be running. >> facebook, 17%, amazon 11, netflix, 16, alphabet 12 if you want to do the elongated fang so

to speak and it has gotten upset, as well >> scott first of all, welcome. >> i do my own jam the maggot thing doesn't happen. we're doing the fangs. >> walk off. if you'd have any guts you would walk off stage right now the floor is now yours >> i think -- i digress. >> it's very interesting if you want to talk in the context of say issues with china. we know that's pretty much a hard wear sort of thing and google is not in china or alphabet can't get going and they had issues in their own quarter and a lot of these stocks had to fill in the earnings gaps when the market made new highs and google hasn't done that. listen, the reason why i like talking is because microsoft i think is one of the most important companies that gets disregarded when we're talking fang and that thing acts like an absolute monster it acts like they have issues with china and enterprise slowdown in spending and to

me -- >> how can they not? >> i think it's really important to focus this was the i.p. theft and this was the one for 20 years people have been talking about was the one most adversely affected and it's immune to it. to me we know that google and facebook are not in china and we're not that story >> netflix is not in china >> not in china either so you have netflix up 32% and facebook is up 32% year to date and all of these are perfect and i'd buy all of them. >> you would buy all of them right here >> the only problem i have is amazon will be in an investment stable and i can't buy amazon knowing it will be an investment stage. absolutely, and you know what? if it happens no one will be shocked? i was bullish on amazon and very early at 190 once it gets over $1,000 it starts to feel like it can be up

or down their 2 hun just like that when they tell me i'm investing i think it will be a head's up that it will be an investment stage and when they turn on the spigots they'll turn them on and they'll be an investment stage and they'll not drop to the bottom line. >> google, i like alphabet and at this valuation i've liked it for a long, long, long time and disappointing that the last quarter it's really disappointing and they did a terrible job, and despite the power pitch. it was a clean sweep and a grand slam last night. i just think the valuation here and to the extent that if android phones are somehow getting caught up and i don't know how much -- i don't think it really changes the alphabet story. i like the valuation here. i wish it would trade better, but i'm here for the long term this is mildly disappointing. >> it's -- when you have these guys that are not in china let's talk about google and

facebook in particular i think it's important to remember that 85% of their revenues come from advertising and while there's been this massive secular shift toward online advertising these are dominating and it's economically sensitive. where we were to see an economic slowdown globally, these guys will see these growth rates decelerate and it's that simple. you have to think about it holistically that if the trade stuff is causing global growth to decline, these things, they sell a lot of consumer goods that where these companies -- somebody has to absorb those tariffs and while we say they're the trade names. >> bottom line, if the market comes in there's such a huge percentage of the market that they're going to come in to your point. so if the market turns south like we saw, that's what this is a moral reflection of. >> i think these guys are on to something. these guys i have to hear your answer.

>> tee me up >> from october to december, these stocks got obliterated that didn't necessarily have anything to do with a trade issue and that had to do with a growth scare globally and you have a growth scare part deux and the overall problems have a problem and these stocks will come down and potentially more sharply already. >> please, go ahead. there was a trade scare. >> i'm likely to put you in this group. >> we'll take her. we'll take her >> come on over. i'll sit over here in breezy point. >> there was a trade and a fed element in that timeframe that you're talking about we didn't start to see trade get better until the end of november until xi and trump started talking, so it was both. okay continue. >> my point would simply be that i think the same thing that i said at the start of the show is the facebook and netflix is not that great relative to the move higher and i do think it was

bond yields and usism and leading indicators continue to get worse and everything we're hearing from ceos is this is an uncertain time and i don't think any of the stocks should be outperforming when they're 5% t 10% of all-time highs and let me talk about the ones in that group that i think the most of and i'll start with amazon and google and there's nothing in the thesis of any of these companies and the ad model is probably right, but everything that google is doing is continuing to actually build out these other parts of the silo. youtube is on fire relative to what it had been doing and i look at amazon and yes, they may be going through a spending cycle and there's nothing that's showing me >> let's squeak this one out here we have a maga chart and microsoft, apple, google and amazon and from their highs of q3 of 2018, they lost a trillion dollars in market cap, those four stocks. to me, i look at that and you

talk about some of the outperformance and we know apple is giving back some of the outperformance, if you see microsoft start to go down we'll have that chart down from 3,000 and down from 4,000, in my opinion when you look at the market capital, 4.5 trillion and it got somewhere in the low 3s at the lows. if you lose microsoft i think mega-cap >> i feel like it's a role reversal tonight >> as opposed to risk reversal >> role reversal and it's something weird tonight, making sense which was a putdown which is fine. microsoft, there's no way microsoft stays elevated if everything else you say is happening and for a while, are you saying they're going to buy it >> what i'm saying is you have to understand that this is the one stock with almost a trillion dollars in market cap that is just levitating for some odd reason and mono hez come out eyf google if you lose that one.

>> we didn't really go in deeper in any way on facebook so the news tonight is, you know, the expectation is they're going to settle for maybe $5 billion, but they can't even get the votes figured out because of the lack of bipartisanship even within the ftc to get an agreement on what they could pay. so we find ourselves kind of in limbo. no one has any sort of worries about it -- you touch on business models in general >> well, look, one of the things i've been somewhat critical. facebook's business model is changing. >> and they've made a lot of acknowledgements about that change and how they're in recognition of the privacy issues for the first time really in their history and this will affect the business model. so far it has not. everyone's that's been bullish on facebook has been looking at the top line and nothing's happened to the top line and it's the bottom line that's been

deteriorating slowly, and i think it will continue to. i am of the view that the praf s privacy issues are certainly going to lead to top-line issues at some point and the top line has been bulletproof >> can someone give me something on apple and it's at 178, all right? what do you do with that >> being caught in the crosshairs of the china situation, this one is by far the worst. i don't know what to make of it. i completely agree with tim it's just noise for google. >> is it a gift at 178 we're fighting a bunch of technicals and the 100 day is at 180 and change with apple so you kind of want to see it above one of these moving averages before you get back in the stock. i've been long the stock from lower and i'm staying long the stock and services are coming on and that's the play. china will be major headwinds and i think if you stay the course with apple and i think

you'll be happy. >> i think the risk is obviously apple will be the last battle fought just like huawei and the president acknowledged that it would be a part of that last battle, and if we do see tariffs of 25% slapped on apple iphones that hundreds of millions of them are made over there and that will be something difficult to the business model and the transitioning to 5g and we know they'll not have a 5g phone until september 2021 i don't think u.s. consumers will start paying an extra 25% for a phone that's a year behind >> one thing on apple and wolf has made a point that there are things that can take apple down and one of them is loss of the app store's leadership as being the place you have to go and that and china are two of the three things that you can argue are at play right now. so as much as i'm long apple here >> china's in big-time play with apple. >> for sure. no one's talking about the app store even though i stay long apple i think you have to be

wary of these issues >> the s&p 500 on track for its worst month of the year and stocks are nearing the danger zone >> let's talk about what a hard deck is. here's the thing, steve will pick to these levels do you want to buzz the tower? >> i'm buzzing the tower right now. that was a massive double top and even though it's a near-term one it will take good news to get the s&p 500 back above the prior highs and we're flirting with the 2800 level and listen, we could be back at 2700 pretty easily and if you're a bull you want to see them 4% or 5% and some of the names that we were talking about just five minutes ago may outperform to the down side any that may give you that opportunity to get into those names down, not down s&p 5% and down amazon, 7, 8, 9%. >> can i say something your egois right in check. >> there's a cluster and anybody

have any others? >> do you have anything? >> did you ever see top gun? >> a couple of times >> it didn't fit me. it was too small >> a bunch of technical clusters really original? >> can we get back to the she? we're still on eight here. it's 2786 and 2776. >> anybody care that it's basically where it was in january of 2018. >> that doesn't bother me. i realize the chart folks can talk about this. >> a long road to nowhere, isn't it >> it is, but think about where we came from and there's been plenty of opportunities to trade in the interim and there's been the classic and places to pick stocks so to say that we've done nothing over 15 months is -- is one to state the obvious and it doesn't mean that it's a waste of time and there's been a lot

of volatility in here and if you sat and did nothing you're probably better off, but with the kind of market you've had for the last eight years you could make an argument that this say victory. >> coming up, a number of -- >> i mean, that was easy. >> a number of stocks getting stuck, and the chartmaster says there's more pain ahead for one of those names plus tesla in turmoil down more than 20% in the month of pay one top shareholder says don't bet against elon musk. we are live from times square in new york cy itand there is much more "fast money" right after this ♪

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welcome back to "fast money," tesla finishing in the red today. the electric carmaker down 10% after bearish calls from wall street sent shares plummeting and then signs of life yesterday after ceo elon musk sent an e-mail to employees saying it was close to hitting its production targets for the model 3. arc invest ceo and big-time ceo said wall street is missing tesla's edge >> the edge that tesla has in battery, they're three years ahead of anybody else in artificial intelligence chips. our analyst now says four years of anyone else in terms of miles

of driving data collected, no one is even close, not waymo, not cruze and they're at 10 billion miles and waymo is at 20 million miles. you train these autonomous vehicles with data, no one else is close >> tim, what do you think? doesn't she have, like, a $5,000 target on tesla? >> it's certainly four and i heard rumors it was going higher kathy wood is a very thoughtful investor and she's done a lot of work on the company. my issues are that i don't think they're looking at the balance sheet is in distress i'm not sure they're going to get there and to me we had moody's on yesterday talking about their assessment from the company from a pure credit perspective and it doesn't sound like even a credit company is looking at their off-balance sheet liabilities and contingent liabilities and things that are hand stringing the business you in if you want a whisper of what

might happen now and -- they might find as many reasons to jam to make the number look better. >> you can agree with everything that she said. it's a debt problem that they have >> the fact that it's an inconvenient truth as tim says to the bullish case. >> everything -- >> x, y, z. >> exactly no one is questioning that no one is even questioning what a genius elon musk is. it's a totally different page that we're looking at that's the negativity in the stock. >> i'll just say this, that she mentioned a lot of businesses that they're far ahead of their competitors and very soon people will start circling and thinking about what is the sum of the parts. we know that they are ahead in a.i. chips and battery development and that sort of thing, but at some point they'll start licensing this technology to guys that actually know how to make cars >> and they'll have to come back to the market and debt will be too expensive for them and they should have raised more money

when they could have which is only may 2nd and it's amazing we are only three weeks in and they should raise a ton more money so they can get to -- >> the truth is this company should be private. >> right >> it secures the whole thing. >> that's also an incon vane ye inconvenient truth. >> let him talk to his disciples. >> i don't think it will get done. >> they actually might not be crossing the line like they have been so, i mean, to be clear, this is the case where the company -- the bigger issue outside of the balance sheet or as big of an issue is this demand story i think they pulled a lot of demand forward and the tax credit is a big deal and it's $35,000 and therefore uncheck. >> if you are playing the m and a case, too, you have a market cap of $33 billion you will play a premium to that

and assume $10 billion worth of debt >> and massive other liabilities and people talk about apple. why would apple expose themselves to all of this? there are a lot of unknowns and a lot of liabilities >> for more on tesla's bad week, go to tradingnation.cnbc.com and here's what else is fast yeah that's what footlocker today after shares get stumped and one trader says this stump could be about to make an epic comeback plus ♪ smelly cat, smelly cat, what are they feeding you ♪ >> well, cat shares do stink this month and things could get a lot worse. 'lhel break down the move. there's much more "fast money" after this high cfa institute.

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>> welcome back to "fast money," time for a major buzz kill on footlocker, dropping 15% that's a new 52-week low. trade tariffs loom and more companies skip the middleman and sell directly to the consumer. karen, you're in the name. >> i am in the name, and it was painful today. the quarter wasn't that bad. the comp store sales was 4.6 any other retailer would say that's great and the treat was higher, but the call was awful i think there's a lot to hate on the call for one, they talk about we'll get to our targets by the end of the year and all back half loaded and the second quarter doesn't look good. you don't really love to hear that since you did see sgna up 100 points although gross margins were a little and it's a

company that's been buying back stock consistently and they bought 32,800 shares which was -- it rounds to zero and they had a terrible explanation as to why they didn't buy stock which was no explanation the only thing i can remotely think of is that there was some corporate project they were working on that made them think they should be out of the market i don't know -- >> or they saw something >> i don't even think, that could be that could be, but they have so much to buy so the valuation here is -- i mean, they're still going to be reporting decent growth and the valuation is eight and change they have a lot of cash. i bought a little bit today. i hate to buy on a day where it's down a bunch and i usually buy more today and i'll buy more monday and i think it's really overdone here, but the one thing we didn't talk about was china that was absent from the call as well. >> the retail is getting smacked

around and you get missed and it's amazing when you look at tj maxx and ross stores and they benefit from people who pull forward merchandise from china because they wanted to get ahe of the tariffs and those are the guys that it's a very binary situation and you have the standard retailers that can't make money, and i think you have to stay there until this issue gets resolved. >> let's do some final trades. >> timmy, you start us off. >> thanks for joining us on the big show today i'll about with big apple. a lot of that is priced if for the here and now and the capital marks is your tailwind >> karen >> i'm sticking with the fangs as well. i like alphabet and you're happy in the long run if you buy it here. >> grasso? >> i think you have to buy yield, dow dow inc.. if you start padding your performance. >> danny boy

>> the big show -- >> stop sticking around for this xhp and i think it's not so great and i think you should sell >> that does it for us on "fast money. we'll catch you back here on tuesday after the long holiday "options "options action" starts after the break.

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>> hi there, the guys are getting ready behind me before the long weekend here's what's coming up on the show tonight ♪ welcome to the jungle, we've got fun and games ♪ >> the cat getting scratched this month the stock down more than 10% when the chart master sees something in the charts that could spell more trouble ahead plus, how low can the ten-year yield go rates hitting their lowest level in almost two years. mike ko will tell you how to profit the one name that wil