but it's worth watching. i do think right now fed is in a blackout period. we have a meeting next week. and to the extent that that is really underpinning where we are in terms of levels of the stock market, keep an eye. >> is that big risk over the next few weeks we want to see if their change their language >> i think it's fed meeting and then g-20. >> sit down. face-to-face >> we are out of time. thank you very much for watching "closing bell". >> "fast money" begins right now. >> fast "money starts right now. i'm melissa lee. traders on the desk join us. stocks surging again today one strategist says the fed cut euphoria has gone too far. julian emanuel will be here to explain. plus, it's the biggest defense deal ever, raytheon and united technologies merging for a value of $150 billion. the chart master will tell us what means for the rest of the

group. first we start off with a rally rolling on it seems like may was a dream. the s&p 500 about 2% away from all time highs as the u.s. and mexico strike a deal over the weekend avoiding the tariffs president trump threatened and the big winner, well, might be a hot summer for retail the group on track for the best month since january as it bounces back and the moves have been across the board. online retailersrallying 22% just this month under armor up and even dollar general at record highs so are we in for a summer shopping and our retailers baring an buy? pete >> i think it's tough to find bargains in what we're looking at i think the quality names performed. took at t.j. max and gap and nordstrom and macy's is

struggling it is about quality. if you look at one that still stands out, i think it's inexpensive is target. i look at the pe i look at the margins. i look at the different metrics and they had a great quarter i think that they are still inexpensive. if the market is going to continue to go to the upside, somebody said -- and we had this debate earlier on the network, walmart or target, it's easy, it's target. target has far more room to the upside i think it will get closer to $100 >> and there's a lack of a short interest in those names. so kohl's, shortage is 19% rallied hard today so the more junk you have on these rallies, that's what's going to rally first in retail >> i would say, i mean, i agree with pete on target. walmart is on a terror i thought that was going to be over it still continues the momentum is it with. and it looks hike it wants to break out to a five year high. if you have a strong market behind you, i think walmart is the play in retail >> it's interesting. i don't know how you want to put

these into buckets >> think about what really perform well the past couple months, utilities, telco and stuff like that. those have been in that bucket then i look at, you cannot avoid how poorly on a relative basis home depot and lowe's traded and then, you know, the department stores. just a mess. when you talk about what worked today, request we're talking about retail, we had short squeezes in kohl's, macy's, jdm, nordstrom and those are heavily shorted and down 50% from the 52-week highs. i don't think you can take anything new away if the stocks rallying today versus what walmart and target and costco have been doing for weeks now. >> my push back -- >> just nature of being defensive. we haven't even talked about the potential tariffs on the remaining $300 billion of imports from china where do you want to be in retail if those go knee infect you problem bhi want to be in

the biggest retailers on the planet >> you look at the numbers given by the companies, it's incredible costco does an maziamazing job. the problem for walmart is most of the business has a very low margin to it 50 plus% of the revenue. that's the problem i have with that name. >> what is target in comparison? >> 20% >> who benefits? ross stores, tjx those are the names. if you don't, you want to be covering the short names >> i'm actually surprised that home depot has not outperformed. there are no tariffs on houses you wouldn't have to worry about that is a defensive sector it has not at all. it is actually underperformed as

dan mentioned. that is one that i actually would get out if i was in. i know that sounds perible to blame it on weather. this is real can you look at february and april. you know what i'm talking about. we've had flooding we still have flooding going on. all around the country, there is something going on that is an issue for home depot yet, 23% growth in the e-commerce they still hit the nibs out. i look at the company. i think it hasn't performed because everybody was a little bit -- they wanted to pull back and see how they're going to be able to do it's christmas in spring right now i think they're -- >> when are you going to get in? >> i got out a while ago >> you're going to see a lot of the recycling through. people are worried about global growth and i think this is a shot of adrenaline for that if

the market holds. >> is retail in general the mace you want to be with the markets are just 2% away from all record highs and potential $300 billion? >> i don't think so. i think this calendar in june is going to get short quickly as we think about the g-20 if we get into july when we expect a lot of earnings from u.s. companies, we're going to get some mercury guidance. i don't think there is a whole heck of a lot of torque to break out unless you get some substantive trade deal >> which i think is unhikely at this point you maybe, maybe, even if she shows up, you might get a move forward. i think it's very unlikely the key is going to be the uncertainty. that's my biggest concern right

now. i'm not sure the fed can pick that up and i'm not convinced they're going away any time soon >> think about what is in the back pocket of trump. >> what is >> positive trade headline we've seen the negative headlines. he gets a couple poz >> that's not the back pocket. he hopes it will be in the back pocket >> we know that negative one is -- can we agree the negative one is in the market >> no. >> not at all. >> it hasn't been in the market? >> i don't know what market you're trading >> it's in the market and there is an additional round of tariffs. >> it was before the most important thing happened which was the fed turning again softer so i think ultimately this is about the fed. >> what's not in the market is a longer than expected trade war something that lasts until the election

which in my view is something that the chinese are thinking about. why wouldn't they drag it out until the election they have plenty of money. >> it hurts us >> that's exactly right. that's where i was going it hurts them more than it hurts us everybody has their opinion on this matter. i see that hurting them far more i think their losses are far more competitive i know trumps numbers were not exactly right. but i think they are somewhat closer to where the numbers really are in terms of they're hurting far more so than we are. >> i think there is plenty more pain that chinese could exact on u.s. companies >> they sure can if we start sourcing -- >> what happens if people start sourcing outside of china? >> the president mentioned this trade deficit. i think people looking for a subinstantive deal are not focused on the trade deficit they're focused ong the force technology issues. how do you get xplins? the threat of tariffs.

>> the market rally rolls on president trump's sounding off on "squawk box" earlier this morning. >> they haven't listened to me we have people on the fed that really weren't, you know, they're not my people. but they certainly didn't listen to me. they raised interest rates too fast that's number one. number two, they did quantitative tightening. >> julian emanuel is the chief he c equity strategist. >> great to be here. >> what do you think the market is pricing in right now in terms of the fed >> the market pricing in a little bit too much in terms of rate cuts. look, i go back to april first btig made the call for two cuts this year. a hot of people thought it was an april fools joke. well, clearly it wasn't. the market has swung completely the other direction.

this is a good probability of an expectation for a cut in july. not going to happen. there is a probability for three or maybe even four cuts in 2019. that doesn't happen unless the economic numbers really start to decelerate very meaningful i had. and from what we've seen in the past, numbers like friday's employment number tend to be one off. so the fed is going to be patient here particularly when they're getting pressure politically to do it. they want to maintain that air of independence. but be that as it may. we think two cuts this year. as long as it is chugging ahong, they may embark on a trade cut. >> we certainly are.

the rational for cutting is sort of twofold first of all, the fed has made it very clear that it wants inflation higher they're very few things that the fed can actually do to get that to happen. rate cutting is one of them. we're still waiting for the end of the balance sheet the other aspect of it is this naj and they didn't see it properly last year a trade war is inherently disinflationary. you thought the price of the things with go up because of tariffs. well, het's guess again. people are buying less trade is decreasing. and we're talking about it here. the fact is if you continue to escalate, you're going to precipitate a global down turn the fed is going to inoculate against that >> julian, oen that point, can a fed rate cut and multiple raid cuts guard against a global down turn or do they not have the bullets to do that

>> if we go 25% across the board, the market responded very favorably to back ago way from the brink with regard to mexico. it's very clear it will continue to respond correctly if you go to a full on global trade war, there's very little that the fed can do particularly when interest rates are minus 20 basis points in germany. >> so nothing can -- if we go into full blown trade war, 3,000 by the end of the year that, is off the table? >> it won't happen yeah basically, we have done a lot of work talking about call it cold war multiples sort of 1960 to 1989 the berlin wall fell then you had, you know, economic multiples. if we go into an economic cold war, we will go into the multiples of that earlier period which is basically four to five multiple points lower than where we are now on the s&p despite

the interest rate environment. that's 2350. we don't think it happens. ultimately trump and xi will meet tend of this month and they'll find a way to snag that they're going to keep talking. and that should be enough for markets. >> that is likely to frighten markets and the markets will see the potential longer term effects. >> what is the likelihood of that is that something that you're anticipating >> we think it's 25 in september and 25 in december when he conversations with clients who think they can go with the big bazooka we don't think it turns out that way. but the fact is, again, when you look at the trade war, you know, the president needs to get

relekted in 2020 and you go back to 1992, george bush was a one term president because the economy turned down. it's not going to happen >> julian, thank you for coming by >> thank you >> julian emanuel. what do you think? >> all that makes sense. i think the most important point, if you say that he can combat a potential trade war with cuts but also wants to get inflation, what did the last ten years tell us? that the fed's ability to stoke inflation with rate cuts in qe, it doesn't matter. that is a fols choice in and of itself then i go back to what was it december 1st the g-20 meeting we had and hopes of subverting some sort of trade war and what did the s&p 500 do it went from 2800 on the announcement of a phoney deal, okay, down to, what, where did it go? 2350 >> to me, i just think if you're buying the market right now because you're looking for xi and trump to kick the can down the road at the end of this

month, that may not be a great entry point. >> when you said the market is looking at a rate cut in july, what it's now looking at is a rate hike. i think the market is capable of moving up. >> so you'd be a buyer >> i'm a buyer i think it's like goldilocks to me >> the fed can cut rates i don't know if they can offset a global trade war i worry that chinese are going to wait will in the election i think at the very least it's time to buy puts protect your port groel a little bit. >> you're exactly right. you took the words out of my mouth. they're 16 and all over the map, we had a big push down not that many days ago. and now we have this huge week and add more it to with 16 vix, why wouldn't you? you can still be a cowboy and own it and own the puts at a

very reasonable level. that's how you giddyap indeed. >> all right coming up, united tech combining forces in the biggest defense deal ever. the chart master will break it down plus, slack getting ready for the public debut next week the ceo is speaking now after the $17 billion unicorn just gave guidance. we've got the details next later, talk about a buzz kill. taking a hit today as one top analyst says this company cannot keep up with the competition we'll explain. we're live from times square in new york city.

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pops are your friends gonna die? pickles don't be so dramatic. but yes probably. there they are. aww! the ceo speaking on a conference call right now. so let's get to san francisco for more on the story. >> melissa, reiterating they're planning the direct listing for june 20th. the ceo and co-founder stewart butterfield gave updated numbers on that call talking about the highest paying customers as of april 31st he said slack has 645 paying customers with over $100,000 in annual reoccurring revenue that is up from 575 as of the

end of last year these customers make up a disproportionate amount of slack's total revenue. less talking about slack's goal rev placing e-mail but big ambitions. slack is looking more hike an uber than it does a zoom public market incestors. the forecast of slowing revenue growth and widening losses is that same combination that kept uber shares under the ipo price since the listing. one thing that the stock may have in common with zoom which performed much better is stickiness the viral adoption that gets enterprises into its ecosystem butterfield on this call going on right now also acknowledging that and saying the most important measures of the success will be their long term adoption and engagement back to you. >> all right thank you. so is slack more like beyond meat we should be clear this is a direct listing slightly different

>> so we have a good reference point. spot fi did a direct listing that stock traded very well. people were very surprised by it i'll just say this when you lack the institutional support by the underwriters when things get hairy, who knows wha can happen spotify is a little bit up to me, shack very different business model it is focused on the enthe prize here i think the comparison to uber is a good one. >> but 645 customers that make up all the revenue that scares me >> i'm at the slowing rate >> right >> but i mean in terms of this one. it is similar to a direct listing. in terms of do you want to buy this you better make sure the customers are darn happy not only that, there are competitors out there giving stuff away for free. i don't know i think this is a direct listing. they want to give liquidity to the folks. i'm not sure this is a buy

>> it's a plain old horse. >> you have a the hoff things that everyone pointed to if they have a 40% or even more, greater reliance on the bulk people and then you're going to have microsoft and facebook come in there and commoditize the business and take it away, i have a real problem with that. >> is the number, 645? >> that's what i saw >> but either case, they have a disproportionate amount of whatever the number is, a disproportionate number of the customers are, right, so you better make sure they're happy you better make sure none of the competitors undercut you which in silicon valley, it's going to happen. >> my biggest issue is this. it smells like snap to me. that's kbad sibad sign to me

if i got it on an ipo, i'd love it i wouldn't touch it for two months >> you know, it's funny. we said the markets, you know, you have a good market we have a fairly good market right now. we're almost at all time highs they have no appetite for these sorts of issues that have no clear path to profitability. >> right and listen, there is no doubt about it slack is an innovative company they did things that existed before remember aol instant message doesn't exist anymore. they're all coming for the guys. initial public offering, you're making an offering to pub tloik raise capital. you're not raising capital i at this time would love to put a few billion dollars in the could haviers of the corporate coiffeurs to give you that buffer and in a down turn. they're not doing. that you have to expect second air qui offerings. >> you're watching "fast money." here's what else is coming up on "fast "fast. ♪ >> beer stocks are running

higher this year but there is one name that wall street says is tapped out. and, yes, that's a hint. we've got those details. plus, it's merger monday >> i love we're a team we're in this together >> and united technologies and raytheon are teaming up for the biggest defense deal ever. but are the stocks really better together the chart master weighs in therise much more "fast money" right after this for your heart... your joints...

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welcome back to "fast money. raytheon and united technologies are coming together in an all stock deal to create an aerospace company to compete

against boeing both stocks have soared through the first half of 2019 up about 20% on the year far outpacing the broader markets. and with stocks in rally mode after a rough may, the chart master says defense might be your best offense. carter is over at the plasma to break it down. >> long term, of course, aerospace, defense contractors have been just great winners i thought i would start with that to really reiterate that point. the beginning of sector data for the s&p 500 goes back to the fall of 1989 and just consider that three line chart the s&p 500, we know the nasdaq with the growth names great software and great innovators technology and aerospace and defense considerably better than that. it's getting science, if you will, and technology a different

way. we have a the hoff tension we have a series of lower highs and higher lows and we worked right into and we touched today the apex of that setup and the resolution is up not down let's zero in on it more immediately. so here it is again over the past one year. now one could call it a lot of things computers hook at levels charters look at levels. how it responds precisely to lines on a page. that tension more often than not is resolved up and out so i want to be long in general. independent of the news today. now i want to show you different. look at this one this is already broken out the last one is the s&p 500. aerospace. dominated by boeing, utx and raytheon and lockheed. this is a good etf it is the xar. instead of 10, 12 names, it's 35

names. and the way to skew to the big heavies. and notice this has also broken out. there are so many ways can you draw it. you can say, of course, head and shoulders bottom it achieved that this is the neck but it is already as opposed to the larger names breaking out. it's the vehicle i would use also just put in this context. here it is right? which we know is the big names haven't made the high. this is broken out i think this is where you want to be. it's also an etf that is available. but finally, there's this. this is that xar here we know, it's just back to the high but look at the performance, the choices you have within industrials. so making sharp new highs relative to marine or emerson or boeing and pick your name. great, great space >> carter, come on over here to the desk lizzy will bring the chair in. >> thank you, sir.

>> so of individual defense stock names, which ones look the best >> well, i mean, at this point i think northrop is okay obviously the two that have been in play, let's hold those aside. the real issue is boeing ever get on its feet? no time soon doesn't look hike a lot of down side, it feels to me as though it's been reduced or brought down to i alevel where it belongs. i would say northrop >> can we talk about boeing. if you took out that early 2019 gap above $400, you have a stock that is 350, is this stock where it should be we know that earnings estimates have gotten slashed because of the uncertainty. does -- take that news out assuming the second half the year you get a resolution, is this a stock you want to buy >> not really. >> it's peek volume is 25% i think it's rerated by the market to where it belongs the earnings are in question all those things that we know are in the headlines that being said, it is in a position of being one of two players in the whole world there is never going to be a

new, for instance, company you won't have the dan and carter airline that we built right? the point is they got their spot and they're going to hold on can i pay in bitcoin >> that's the hoe. let's cross that line. so am i better off waiting for it to hit the bottom of that big names that dominate. and smaller names, a lot of mid cap names that are on their own. >> one could wait for a little pivot. >> carter, on this can you decide the marquee names for headline names that's the one where the whole

thing gets pulled out. >> that's not like, you know, corporate and there is something about the general dynamics business i think a lot of may have to do with private jets. >> you say not just because of this happening now but do you think that this is an industry where we'll see more consolidation? do you see more of maybe, maybe not the biggies but looking down and getting some of the midsections? >> orbkosh >> there is a contract here. there is energy here it's risky think about what happened to ibm and intel. i play any technology through defense contractors. this is where you get great technology exposure without having the vagueries of i'm the next, you know, twitter or what have you >> interesting >> broader question, carter

since we have, you how do the markets like right now >> we have a selloff that is unprecedented. you have the biggest rally on the year incredible thing we're still just churning. we've been doing this for 15 months with volatility if cash getting stocks, corporate beating stocks, what is the proposition that somehow stocks are going to come back? is it because of trade or tariff that's don't exist it's all the cycle feels very peakish. >> carter, thank you carter braxton where do you go in defense >> i would play the underperformer i would go to general dynamics if you hook at it, it's a well diverse play you have aerospace, information, tech they're all split up and the same amount of billions in revenue. >> they had no one can say okay,

i own one segment of the defense sector and since it's been underperformer, i think if this one rallies, then that means the overall space is rallying as well >> i would say that listening to him, the president speak about this deal this morning briefly on the show, i think that there is no certainty that it's going to take a long time. carter said take out two of biggest names in the space you may not get the performance in this group from here on out i'm saying this deal looks like it's not going to happen utx and raytheon are going lower. you mentioned underperformance of general dynamics. the group doesn't feel great to me fundamentally. >> definitely. >> the only thing is the president did say he wants to cut the budget except for defense. if there is anyplace you know that money is coming into, it's likely in defense. so for me, i play let's call them the smaller caps of the area, right? like triple l or something like hxl. those are part of the xaretf that carter talked about i buy them on a pull back. back to a trend line >> there is a name i had never

known of before until i saw the options get really active a couple weeks ago credos this thing has been on fire. take a look at that chart. >> what is the ticker? >> kros. this is a monster. it has been moving to the upside in the defense world and then if you want to stay big, lockheed martin. >> all right coming up, sales force sinking to day after making the biggest acquisition on record. the ceo says invest quorz are missing one key thing about this deal we'll hear from him later this hour plus, coors falling flat today after credit suisse says they cannot compete

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shares of miller light, miller light maker down 3%. competitors like boston beer, anheuser-busch and constellation brands are up 20%. i didn't know that 25% of it is the u.s. operations. they're really dependent on what is going on here >> really dependent on that and beer that's the problem here. i bham the millennials they don't like to drink a beer. of they like the craft cocktails with avocado toast that's the problem millennials are not drinking this they don't have the balance sheet to attain something. so they're kind of stuck here with just the beer portfolio >> they are there but they pick the wrong name cannabis constellation is with canopy you get a little tail wind to that but if you're -- if the industry is growing 5% and you're

shrinking at 10%, i can do that math pretty quick. it doesn't take a lot of years for you not to be in there >> the problem is they've been reactive not pro active. it reminds me of ge. it is always a reaction later on waiting for everybody else to do something. then it's too late and if they start to make their moves now, are they overpaying if they decide this is where we need to go >> they spend a host money >> they don't have the money now they have to borrow or throw out debt. >> so you think it is underperform you agree with credit suisse with this underperforming rating >> i'm a bud man >> what? >> miller lite is a bad product. >> period. >> all right

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health care back to "fast money. microsoft unveiling the details surrounding the x box console. a gaming event in los angeles gets under way let's get to josh with all the details. josh >> me list yashgs microsoft just put on a big show at e-3 making a lot of news in the world of gaming highlighting 60 new games. touting new subscription services sh teasing the next generation xbox console which arrives in time for the holidays next year. company also clearly placing the bets on the future of video game streaming. microsoft will pursue that opportunity with what it calls project x cloud. game streaming powered by the global network of data centers no word yet on when exactly that's going to be commercially available. the idea there is that gamers can play any time, anywhere. it's also going to offer console streaming. so a new service unveiling in october.

giving fans the ability to stream games from their xbox one consoles to the mobile devices phil spencer head of x box was on cnbc this morning talking about that opportunity >> we invest in the cloud to reach two billion gamers am we also know that heart of that experience for so many of our fans and customers is in the home and the fact that it's the same platform in both places gives creators one platform for them to target to reach all of those customers. >> of course, microsoft isn't the only one looking to disrupt the video game industry. google is pursuing video game streaming with a new service it calls stadium. amazon reportedly is charging after this opportunity as well melissa, back to you. >> josh, thank you how do you trade this one? >> i think they have more credibility than google if they go in here it is already in your house and already on an xbox. my boys are always on xbox or play station it's a win for the game makers

i think you need that type of content. quur going to need i think ea is the top performer. i think all of them ultimately rally. >> any new console introduction is going to spur, right, huge sales for games as well as just retail sales for game stop >> yeah. >> so all of those are the obvious plays. i'm going to go a little off and say i think disney is the way. they're going to benefit if this espn the you'll have a lot of people watching this i think that is kind of another fuel for disney. >> we always talk about the cloud. we talk about everything else. everybody forgets about gaming every quarter you see some of the gaming numbers they're actually staggering numbers that no one pays attention to but it's one more vertical that adds to microsoft. >> he's leader

he's doing exactly what he set out to do. it is choud first. gaming is still a piece. >> the take away is it goes to the cloud. >> really quick. you're still going to the physical store i still go there when i want advice and i want to know how to use something for my kids. i think that's a take away >> microsoft hit an all time high today >> we had four of those at one point. this one back above a trillion all the action is actually in short dated calls that expire this friday. one of the most active strikes was the june 14th, this friday weekly 137 calls. but 9,000 of those were 25 cents. these were all traders trading for the short term momentum. it's really important to

remember, this stock now up 10% in just a week look at that range right there these traders in premium terms, they're not a lot. they're a hill more expensive. but if you hook out at the next catalyst for this company, it's going to be the earns the last week of july option prices are fair. the risk reward, i love those trades i do those all the time. everything we're seeing right now continues to be short term including these extreme short terms this friday expiring

i saw that in snap and a lot of different technology names that are moving to the upside lately in a big fast way. they're going short term people don't really necessarily trust the rally. >> more options action, check out our live show friday 5:30 p.m. eastern. sales force said they would buy software for more than $15 billion. the biggest deal ever. the ceo spoke with jim cramer. we'll brin ♪ ♪♪ g you the co♪♪ents ♪♪

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it is great, gidget. everything is grand. [ meow ] [ purring ] [ growl ] are you finished? [ cooing ] that was weird. oh sister it's gonna get way weirder. health care back sales force announcing the data analytics for $15.3 billion in stock. that is the biggest acquisition in sales force's history dwarfing the previous record for $6.5 billion in 2016 sales ceo sat do you remember with jim krayemer to talk about the mega merger. take a listen. >> you're really touching on the third corner stoeb of dibblingal transformation which is the analytics and the visualization and the business intelligence to see everything this your company and as you know, jim, there's no more amazing company than -- in

that category than tableau to make sure that world can see and understand data. that is what excites us as well. >> so how does this merger change the cloud landscape what are the names that could benefit from a big move like this >> i look at the cloud space i love sales force for a very long time. the problem is it's expensive. and when you look at the level of it and you look at the options in it, they're almost impossible to be able to position the way you want to.

>> nobody can question his idea. it's interesting that google which is, you know, alphabet, a $750 billion market cap company, a data analytics team called looker for $2.6 billion. and now sales force is using all stock to pay 10% of their market cap for a company that has 10% of their sales it just seems hike an odd thing, an acquisition of 100 times earnings >> using the currency at the level of where the stock is. >> listen, we've seen this in past cycles. i remember when microsoft bought a company because they wanted the an hittics they wrote offer single dollar that was ten years ago. >> that bolsters the case more when they're using this stuff. they think the stock is -- >> really? >> it's diluted. some point everyone is going to care about the valuations.

sap, one of all time names is up 30%. intuit is up over 30%. workday up is 30%. does that mean that sales force is losing a little oxygen in the room and they had to reach for this i don't know >> if there was. but you have to go way back. back in february, believe it or not, they were buying october calls in exactly this name somebody was in huge numbers. and this absolutely is a home run for them >> wow all right. you can catch jim krayem aers full interview that is coming up at 6:00 p.m. eastern time on "mad mon." u nt to tune in. next, final trades [leaf blower]

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bitcoin alert, it's been on a while ride it is hovering back at $8,000. what did you make of this rally? >> it was kind of slow over the week this morning came in, buyers if the u.s. came in to buy this we're starting to see a the hoff interest coming from institutions

there's several different institutions looking to get into this i would say the fundamental perspective, one thing is address creation that is crowing at 10% a month over the last month or so. it doesn't seem to be any slowing in that. that's a very positive thing for the bitcoin price. so you're starting to see fundamentals hin fundamentals h fundamentals line up you'll get supply being cut in half next year it is relatively positive for bitcoin. >> time for the final trade. pete >> great option activity goen day. this is multiple days in a row snap keep an eye on it. they continue to think it goes higher >> b.k.? >> b.k. is kmeetly unimpressed closed on the low. sell spy. >> pete? >> you know what got hit the most off the mexican tariffs automakers is ford and gm, gm was clobbered. gm is not the favorite in this space.

up 7% year to date ford up 28% year to date i would say buy ford >> so panic to buy microsoft over the last week the stock really went from $119.50 to the recent highs. it chose on the hose take profits >> all right that does it for us. see you back here tomorrow for more "fast money." "mad money" with jim crame starts right now >> the mission is simple, make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere. i promise to help you find it. "mad money" starts now >> hey, i'm cramer welcome into mad money we want to make friends and this is my job. call me or tweet me. >> all right hait to be a deb qui downhate t

downer here today. the nasdaq vaulted