they're not embracing every new idea smile direct it goes down as one of the poorest showing are for a debut. raised more than $1.0 billion i think. that does not look good. but i think it's a positive that investors are basically being pretty selective about what they buy and don't. >> the dow closed higher by 45 points that does for "closing bell." >> "fast money" begins right now. live fl from the nasdaq market site overlook times square this is "fast money" i'm melissa low. traders are tim seymour brian kelly and guy adami. also chris ver own head of technical analysis at strategy i suppose research partners. tom lee on why the markets needs bitcoin to go up not down. he explains. wal-mart goes big to go to your home all you can order grocery deliver goes national. the desk chous down on that. bu plus blackstone up another 4% today. but 75% yeerd to date does it

have room to run we debate that but first -- >> i.c.e. >> is that the federal reserve is that what it's feeling right now? under pressure it should be under pressure no it's not >> it will come. between the ecb relaunching open and monetary easing and the president tweets urging the bone heads of the fed to cut rates, does the fed have no choice but to move in that direction, guy. >> i hope that's not the case. i hope they -- back in october jerome powell when he first started in job he said we are going to do what's right for the united states and for the economy. and i really felt he was on the right track. he was going to raise rates in a systematic way and reduce the balance sheet. that was the right thing to do in my opinion. i still think that he did a complete 180. are they under pressure to do

this we talked about it tweeted about it, hottest number in 11 years i don't understand why with inflation rising without question, and with the greatest economy in the history of the republic the president's words not mine we have to do some rate cut that is effectively would be a emergency measure in a situation where there is no emergency. so i don't think they should be. now do they feel pressure to well you listen to the president absolutely and it's funny, quickly the president talked about the european's manipulating or currency manipulating he talked about them as geniuses whenned to to do it whep the chinese do it. >> it didn't work for them the you're owagons stronger dollar was weaker here the problem the fed has in release to u.s. economy. and the more european and other central banks around the world cut, the more likely our yield curve inconverts that creates talk about recession. creates a problem for the banks.

so whether they want to or not, with the rest of the world cutting rates, particularly in the negative territory, u.s. rates still positive, you can get in yield curve inversion which they don't want. cpi, they hit the number for the first time in ten years. seems like that's working. we have good employment. hitting both the mandates but now they have the boengs for inverted yield curve. >> i can't remember a time where the divide between reperception and reality mab as which had as it is. think about the things we worried about this year trade, brexit, china and the market hasn't flinched there have been the signs of cyclicality all summer semis outperforming software seeing it recently in the couple weeks in industrials catching a bid. banks better i think the message of the market is hey things are actually pretty good underneath here and i would be very careful getting too bearish here. >> maybe perception is reality and i think you have a dynamic here where you know, we probably say this a lot but i hate

hyperbowl. another extraordinary day. if you think about the ecb steps in potentially expectations high and they were aggressive thrown in a lot of stimulus and basically said they will be patient similar to the do we'll do what needs to be done you have a dahm where bunds were back up and the boj saying they are getting worried about long-term interest rates falling. combine that with a fed that we don't know is moving as quickly as people think. a defends over a trillion. major issuance going on. and suddenly it looks like bond yields go higher if you look at the remember are reversal we had and marko was on talking about the technical factors, it was an important day for markets. and it's very good for risk and good for reflation trades and good for gold which i thought was trading mostly on deflation but clearly gold rallied on the sense there was the 2.4

inflation. hedge or inflation, deflapgs, the cure all, the cure all class. >> it's interesting, i mean, you know we talked about this a couple weeks ago the banks traded well in the environment. tim brought it up and we brought it up week and a half, two weeks ago, the bond market got ahead of itself. we talked about it that day, i think it was tuesday two weeks ago. quite frankly that proved correct. name like citi bank rallied 13% in six sessions. that's interesting i think there is room. but i think the banks are in this longer term downtrend take advantage while you can and 180 in the 10-year give or take has been a level a lot of people flagtd for the retracement back to in other words bonds selling off yields going higher he we see how it reacts tomorrow fascinating to see what our bond market does tomorrow given some of the rhetoric we are going to hear. >> although with all of this said, if you told me two weeks ago we had a weaker dollar, ecb cutting rates appear multiple others cutting rates and would

have some kind of movement maybe on trade, i would have naught the stock market would be at y'all-time highs dow up 3, 400 points i know we priced a lot and participated alt of this. >> we are. >> but i was roadways disappointed >> we are effectively there breyen >> talking about the trading today, right all the news came out today. when there is good news and bad price action i get concerned and the fade today i thought we would have had more. >> i'm reluctant to call price action bad today look at the breadth the last two woks as good as we have seen coming off the lows seven, eight months ago when you long about long yen, long gold, long german that's been the trade. >> not a mu trade. >> bellwether. taiwan, semi, these are the memgs of the market that say things aren't bad here. >> so you think gnat writing isn't oh the wall for new highs on the s&p fiechd. >> i think the writing son the wall for decisive new s&p high

through the end of the year. >> what's zies disbelieve 1350, 3,200. >> okay. >> what's risky for markets is the risky markets have been rallying any it could get worked off pretty quickly i'm just telling you the momentum behind the trade is as good we have seen since the blow off top of january 2018. you want emerging markets and you've seen the currency rally dramatically that's a part of the risk spectrum "fast money" it's hard to see where it changes overnight unless you get a bad trade headline. >> our next guest's take is basically it's time for the fed to be proactive and leading. let's bring in jim skarn, portfolio manager at morgan stanley. it's the central bank of the world. isn't it by default the leading central bank. >> it's supposed to be let's put what the ecb did today in context talking about 20 billion of qe per month until they start hiking rates again if you look at the forward markets what that tells you is

that the ecb is not expected to hike another six years if you do 20 billion a month for six years it's over a trillion dlarps of quantitative easing. what is the fed doing talking about the phillips curve can't decide in terms of rates do they cut 25 do they not? i think this is what any mean about the fed is lagging behind. the more fed lags the more markets price in they have to do more later i understand the topics discussed cpi is higher why do we care. because the fed is looking at core pce below the antarctic of 2%. if you disembed deflationary expect aches into the economy you end up with a japan-like situation and they've been trying to dig out of that for 25 years. pifrpg the fed is trying very, very hard not to get there the ecb has got the message and they are doing it proactively. the more the ecb does that means the dollar will probably get

stronger because interest rate differentials rates go down in europe and not so much in the u.s. i think in puts pressure on the fed to do more. >> what does the fed need to do to be proactive. >> i think there are two criteria that will define success. they need steepen the yield curve weaken the dollar. that probably comes with a rate cut. how aggressive and how much becomes the next question. so i would expect the fed to cut two more times this year and probably at least another two times going into next year i would expect about 100 basis points more of cuts. and that's what the market is pricing in right now if we -- if the fed does deliver that and this -- we are getting some recovery in the economic data, then what the fed will show us is that they're getting ahead of the curve, becoming more proactive rebuild inflangs expectation rebuild into the curve resteepen the yoeld curve. i think on a relative basis when we look at the dollar relative to other currencies, the dollar may weaken or at least not rally

as much. new and i think that's the key. >> jim ten year peelds yeemds peaked almost a year ago anniversarying a year of lower interest rates, does the stim la active effect start to show up in the data? >> it does but also the fiscal benefits from the tax cuts that we have had for a while is also starting to fade. so yes you are getting a decline in interest rates which should start to help. but also the fiscal stimulus from the tax cuts from two years ago, year and a half ago is starting to fade what's more important is when we look at the forward aspects of the economy, look at trade, china, what is the potential for we canness i agree with what's being said where does the fed have to be aggressive in this economy look where the market is injury that's a little bit the wrong question i think the question is is how much insurance does the fed need to take out so the u.s. economy doesn't turn into a japanese-like economy where she have perpetual deflan flags

inflation. i think the we'rerd ward for me is let's do too much if the stock market goes up we can hike rates aggressively and we'll turn that around fast but we can't fix the other which if the inflation expectations go down too long. >> jim you can't fix if the other way once you've got too far there is this fear we have so many bullets. first of all it's very interesting it's not a thought that's out there but the fact that the ecb could be leading the fed here is an extraordinary concept because it's the tail and the dog. the ec b has always been the tail. >> indiana the worries bubbles and inflations the thing is i don't see an inflangs problem in the world if i did then i would say the fed needs to tread carefully as far as bubbles, i think bonds are acting perfectly reasonable relative to central banks. i'm not an equity analyst and don't invest in equities but i would say equity markets are reacting properly relative to low interest rates. i don't see things as frothy as

a bubble i don't see a lot of lefrpg that's a problem corporate leverage is high but we have to remember that the term of the leverage -- many corporations have termed out the debt refinanced a longer term debt and their cost of borrowing is really really low. even know leverage is hi and people like to highlight that, the cost of servicing it is really really low. so i don't see this as a pressure point so this to me gives the fed a lot of room to be very km kaitive, at least trying to keep up a little bit with the ecb if it turns out the krechlt ecb is doing the wrong theng the fed can go the other way easily fixed. >> of all the asset classes out there you don't see frothiness in equities. commodities certainly not frothy but the bond market might be called frothy. other people call it a bubble. your you're a fixed income portfolio manager do you think it's a bubble how do you handle it. >> i don't think it's a bubble i think there are good pockets of opportunities and particularly in emerging market

local bond local currency em debt a lot of the bopped markets haven't rallied said say what with with regard to the investment grade or bond markets are doing. we want to find pockets of places that really haven't participated in this many emerging markets have steep yield curves higher interest rates. their central banks have plenty of scope to cut rates. they have positive real interest rates. that's where the money as it is gravitating towards. one prerequisite you have to have a semblance of calm between the u.s. and china if the u.s. and china continue to battle em is going to sit in the back seat. that that calms down and i think it will for the remaining part of the year and maybe into next year, then the money is going to start to chase the assets that haven't appreciated yet. emerging markets is one of the places i'll give you another outliar space. some of the energy sector which has gotten destroyed you get calm energy does better. plus if people move back to high

yield for example they by the etfs and buy the energy secretary are and take that high are. that's a contrarian call right now, risky but could be worthwhile. >> great to see you thank you. all right what do you think. >> makes great points. listen, it's hard to argue he is not 100% correct i guess my point is this just because everybody else is doing it doesn't mean you should do it quick example. the big thing now is you hold your kid back for a year give him or her competitive advantage but if everybody does that you're back at square one so what point does that stop. >> and you're shaving in second grade. >> you know we're not foor from that my point is if all the central banks are doing it we get there at what point is it madness and has to stop? almost by definition i think there has to be some nchgt ramifications for the recklessness of global central banks just miep. >> the challenge of targeting a steeper yield curve also does the fed have control over the yield curve with the blunt

instrument like cutting rates? >> exactly one thing they have is the balance sheet where they actually can do like a reverse operation twist. i talked about that before but basically the idea is they have more control over the yield curve than they have in the past one thing i would say, you call on high yield is interesting particularly for us bank stocks. because one thing we always get concerned about when oil goes down so much is how much exposures do u.s. banks have to the oil patch? if that gets baier better that might put a bid under bank stocks. >> wal-mart ramping up grocery sore what that could mean for the consumer bitcoin struggling to break out. tom lee says one catalyst could finally help the cryptocatch a break. much more "fast money" right after this i get it all the time.

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you must be steven's phone. now you can know who's on your network and control who shouldn't be, only with xfinity xfi. simple. easy. awesome. well back to "fast money." we have a news alert on we work let's get to dedra bosa in san francisco for the details. >> melissa, we work is considering curbing founder and ceo adam newman voting power to save the ipo according to a financial times report citing sources earlier this week our leslie picker reporting we work was considering making some corporate governance changes and come as early as this we can

among the changes discussed according to the f.t. report would be revising neumann supervoting rights giving him 20 times the vote are power also potentially the role of his wife rebecca neumann currently the chief brand and impact officer and under the current guidelines, the current policy she will be able to pick his successor if he dies or if he is permanently disabled in the ten years following the ipo longside two company border are board members. melissa, already this was a highly unusual s one we have heard lots of about it we know the ipo is struckle to get off the ground the changes could help push the ipo forward if they go ahead. >> this sound like they would have to eliminate the three class chair system that they have right now >> well, we only know right now that it would be revising adam neumann's role so perhaps less control. i'm not sure if it would take away the class c entirely.

but certainly it's evident that there are some changes that need to happen before any reach an ipo given what the market and privately is happening. >> dedra, thank you. dedra bosa in san francisco with the latest on we work. is that enough curbing his voting power when he has a supermajority of shares by the three class voting strurt. >> let's think about what the story is emblematic of exterior the where is the excess in the private markets or public markets. >> private. >> you see the way the ipos this year has acted it's terrible the public markets are on strike when it comes to owning these. that should be almost reassuring as an equity investor that there is not the excess often present near tops. >> just where it would go and just -- >> yeah, at most tops companies like this they would have gone and gone up 20% on the first day what are we seeing seeing people selling out at 20% losses. to me i'm speculating a bit here but it shounds like you have

some early investors in we work that want liquidity want the and want to get out softbank did the last round and almost doubled the valuation today. there is wrangling behind the scenes to get the liquidity because venture skpam capitalists raising the next fund need to move on that's what's going op even still i don't think it's a great ipo if we use the other ipos as a proxy. >> you're specifically referring to smile direct which raised -- raised the -- frown direct it was today. >> yeah. >> down 27% on the debut day even though it raised its -- you're mileage. >> i'm not -- we had a whole conversation about it before the show it should -- >> it should have trait traded better. >> it should have. and we didn't speak to this type of move today. but we spoke to buyer beware and kkk. b.k. is being nice i think softbank was a $48 billion valuation there last round. and this is somewhere between 14

and 18, far more than twice. and again they should be beholden in my opinion to the -- to the concerns of softbank. >> yes. >> but we're going to find out what happens here. >> from we work to wal-mart, the biggest retail are announcing today it will be expanding the grocery delivery service wal-mart sbrusing a new unlimited option where customers can pay a monthly or yearly fee to receive unlimited deliveries to their homes and this comes as fellow retail chain kroeger closes out wild swings after raising doubts about the profit targets even after beating earning expect aches this is morning. two headlines, it does say the consumer grocery wars are on, tim. >> they are in certainly in the big box space and the competition dween wal-mart, target, kroeger and a few european aldi, liedle, all these guys come into a very, very competitive space. wal-mart still dominates the ability to control prices. for sharmds the top line looks good the question is does the company have the surprise on the eps

which is what they had done. i've been wrong on wal-mart the last 30% my view is wal-mart is a very expense of tok sheer that was a function of a market if you bleach the market is in in were worried about growth going to defensive names wal-mart outperforms but right now it's so competitive in the space i don't know why you want want to own something with no marj j. >> i'm pushing back on that. wal-mart is a stock basically unchange the better part of the last 18 months it's just starting to break out add it to the list of recent breakouts. when we think about it is it good fair versus amazon? is it taking share from that side of the trade be long here 115, 116 is a god support. i'd be a buyer >> i'd argue with that it has traded well i'm sort of with tim. with you a company with 4% earnings growth, eps growthish trading the 24 times historically somewhere at 18.5, 19 times you have to say it's expensive

especially with the competitive landscape. the stock has been great the last couple months without question but at a certain point i do believe that valuation matters and i think we're getting close. >> yeah we're getting close. i wouldn't buy wal-mart on this news with the competitive landscape it's better to be the grossee than the grosser these are the grossers the one getting the grosse >> the consumer. >> yes like a renter and rentee that type lessee, lesser lessee i'd rather abgrossee. >> great for the grosses of worldview. >> imeye just putting i go to the local acme and pick out the avocados and feel my tomatoes and make sure they're okay. >> what do you mean you feel your totmans >> i go when i buy the tomato pick it up and if it's bruised yoptd it it. >> you do that with the meat. >> you might be bruising them yourself. >> i don't bruce the tomato i know how to pick them up >> make sure they are firm.

>> i'd stay away from his tomato. >> for more on the grocery store wars head over to abc cnbc.com. >> buy bitcoin needs the markets to go up fund saturate tom lee explains plus topping the tape, blackstone has been a gemants but could it soon lose luster? chor"ft ne aer this break ♪

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bitcoin as that hedge. in 2017, though when -- the stock markets hi the alt coins rallied. is it more potential gnat amount coins rally than bitcoin or is this a bitcoin centric rally >> it's -- it's come through the conference i think there is a bit of sobering around amount lts more in that some are useful not really sure how to trade the group. so i think what may -- may end up playing is out is s&p hits the all-time high. bitcoin reaches the all-time

high which is not far away for bitcoin. and then i think it would lead to the start of alt season you would see the all-time high in bitcoin. >> tom lee of fund strat how do the funds look do you see see the all time high for bitcoin. >> i want to thit on something tom said it's not about risk off. it's about liquidity in. in an environment wrp money is ample and rates are low you see liquidity investigations in equities and bitcoin i would expect a new high whether it goes to 20,000 or or not. i want above the upward 230 oh day moving average i like liquidity. >> i listened with brian kelly with laser focus and recently he said there might be one move down and maybe 8500 what he said -- i say this carefully, a generational buying opportunity. >> that's right. >> i'll stand by that. i think you have a massive buying opportunity here. we may have already seen it in the 9,000.

might be trying to be too cute but there is too much money into the market you have an opportunity to have a generational buy on bitcoin sometime i would say in thes next six months. >> coming up blackstone up 75% year to date but how much further can the stone roll. >> plus the kmarm of aurora cannabis speaking earlier on cnbc we'll tell you what he had to say about the state of the capital needs. much more "fast money" right after this i can. the two words whispered at the start of every race. every new job. and attempt to parallel park. (electrical current buzzing) each new draft of every novel. (typing clicks) the finishing touch on every masterpiece.

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check out shares of blackstone topping the tape today, the private equity giant up more than 4% today now up more than 75% on the year after announcing it raised more than $20 billion for the largest ever real estate fund that fund made the first purchase nearly $19 worth of u.s. industrial properties. blackstone manages more than 150 billion in real estate assets. how big could the play get and can the stock go higher from here. >> we've been talking about in for a while. i've said i don't know what's happening and still don't know what's happening i'm not necessarily sure that thing you just talked about now, with the real estate is the reason why with that said, the stock has been a monster clearly something is going on. valuation expensive.

price to book, expensive all the metrics you can look at say sell this name. i think there is room to the upside. >> that's a crazy move. >> it's a crazy move we have had a crazy move in yeemd. in the environment blackstone does well. the one interesting thing i thought jp morgan had a note out on traditional asset managers and looked at ben, franklin resource processes ben saying they've gotten cheaper than they have in a long time i would look at those. >> the difference here is that blackstone is the best in class number one alternative asset class player in the world which means they can charge higher management fees. and in fact ner going to see basis points acorrosion on margin on 100 basis points a in the current vitamin. raising a record 45 billion in the second quarter and the third quarter betterfrom a liquidity environment. everything with we said in this environment it's very blackstone friendly the valuation has to change just like for equities if anything you have more sensitivity in an alternative asociety manager in this environment and therefore your multiple should expand that much more. >> i recognize the stock has 42

to 52 since junes not lost on me it's fantastic it yields something like 4%. any hint of weakness to the high 40s tepp and buy it's almost the anti-we work brookfield looking very similar and similar charts injury the message there the yield is important and the chart is good. >> the big ipos who duping were the first in guys like blackstone have been seeing exits in bunch of deals. i don't know about we work which is obviously not a great story right now. but for the early stage private equity funds involved in angel, series a, series b, excuse me, it's been a great environment. and i think that's part of why they are doing well here. >> all right come up aurora cannabis up in smoke again today. the cannabis giant's chairman says investors have nothing to worry about. we explain plus options traders betting one at leisure darling running higher we tell you the name more "fast money" straight ahead. >> dlifrpg alpha, the most important investor summit nine

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aurora cannabis closing the day down more than 9% after reporting earnings last night. earlier in afternoon i got a chance to speak to the kmarm michael sippinger pressing him on an issue a lot of people on wall street are concerned about, the need for capital take a listen. >> some point in the future as we continue to grow our business internationally we believe there may be a need for future capital. because we're going to need to continue to expand, build facilities elsewhere around the world. process that's a future idea for us so there is at some point we believe that may be true i don't think we have the need to do so today and obviously we're planning to continue to grow our business with the existing capital that

we have. >> it is an idea for the future which doesn't necessarily allay concerns that this is going to -- not going to happen. >> although, the big canadians lps have had a big better record to capital markets they can list on these markets appear trade here. aurora just sold the stake the 10.5% in the organ dutchman raising 85 million last week the most disturbing part is they gave guidance a month ago and what missed it wasn't the core business the core business was fine and hit the numbers. but it was the ancillary business but why not report that a month ago? the big problem with the industry right now is really a level of sophisticate aches in terms of guidance and gauging your business. the other problem here is these guys talked about volatility in the earnings cycle going forward. the industry doesn't want to hear that. yes, a record quarter in terms of canada and the best kind of core production out of canada of any of the big players they should be proud but this doesn't change the things that are hanging over the

industry. >> and there are a lot of things happening with the back half of the year canada goes legal. >> it 2.0. >> and vaping. a lot of markets need to market around and ramp up in terms of production aka spending and they had at is the g and goes up 9% from 1% in the last quarter. >> the things you should look forward. cannabis 2.0 in canada means a different format products, edibles, different -- higher margin products coming through and let's be clear canopy, aurora, they are very well positioned for 2.0. that's exciting. but in terms of cash costs they got a little better this quarter. let's see where they go in the half. >> well, i mean at $5 i think i'd be a buyer of this i'd give that a shot for aurora. bounced off that several times in the last couple years you're talking about cash call in the future. i would take a shot at around $5 >> i can't endorse it. i charge charts companies not ideas or themes it's bad charts. whether canopy, tilray.

>> what's so bad about that chart chris. >> the trend is down, right. it's hard to say the bottoms or the bases are put if place on these yets. i can't tell you what six months will be. >> that same chart found a bottom and bounced off last week people cited that and even following the marks and technical indicators saying this is the bottom. you don't see that. >> we could have made that call fix six seven eight times the last 18 months i think we need to say the bar is higher to call the lows >> if you're scared of the pure play cannabis. cancellation is down today 14 peppers epa groepgts is it's had a nice move. that's where you get the tail in the cannabis stz. >> better chart too. >> still ahead that's the our joan jim cramer with crowd strike ceo george kurtz gives us the take on the ipo market you're live in times square in new york city. much more "fast money" straight ahead. next mozart.

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little bit further ryan in chicago with the action. hey, bri. >> it was active today calls outpacing puts 2 to 1. normal tall calls and puts are equal. but it's interesting with the upside activity. strike trading tomorrow. expiring tomorrow the september 2 oh oh strike traded baier $2.23. the biggest traded size there. traded 370 oh when i was looking at it by the end of the day 4,700 calls traded people betting upside here when you look at pgs ohs traders was, the stock up already tremendously since earnings. you look at here can i use stock replacement strategies maybe using the calls instead of buying the stock when you look at the trend channel here trading near the top of the range i have to be cautious in going and outlaying stocks you see the call buyersment taking more shots at the upside process when you look at the mike khouw outlined a trade on

your show last week. if you see lululemon dip gloep 200 that's a trade i'd like for get that online. >> brian sutland at chicago with the option i don't want to hear about people's underwear what they are buy and. >> part of the story melissa. >> now but snes right and this is happening the last couple days >> every time it's mentioned >> can we have a proper. >> to tim. >> talk about lululemon in terms of the multiple which is very difficult which is quite stretched. i think a case where people look at the growth of the company priced as a growth stoke usb upgrading the stock from 190 to 215 put in there says it deserves a higher multiple who needs emerging markets and bitcoin when this stock went up from three bucks up to 180 >> i think what's notable about the price action the big up days have had big volume. the stock is still being accumulated here i think the question is can this translate to nike? nike has been sideways since february can they get in on the act? is that the next way to buy play

if without. >> that brings us to would you rather, the nic olul era lulu. >> such a tillened from the men's wear division. people price in growth i think that's a much bigger tailwind than nike gets. i would rather that. >> talking about the men's wear. >> like the pants. >> pants. >> as guy. >> you know they have a store. >> across the street from where you live. >> i i'm a peter lynch enzyme for people at home google that on your goolgle machine. i've been there. and experienced it i won't get into the granular detail of it but then you look at the carter, comps up 17% street looking for 12. yes valuation is expensive but they seem to continue to grow into that valuation >> so i'm going to throw it back to you, because you own nike. >> would you rather rather >> well just a would you rather. >> would you rather nike for sure and i dwree with the north american price action. i think the at leisure trade

highways lulu gets caught up in placeward nike belongs nike a better valuation. >> for more "options action" check out the full show tomorrow 5: ete30asrn time. coming up next, final trades see that's funny, i thought you traded options. i'm not really a wall street guy. >> announcer: "options action" spobserred by think or swim by td ameritrade. lp you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade liberty mutual customizes your car insurance, hmm. exactly. so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪

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cloud strike is falling from the clouds can it strike back. >> i have the ceo. time to proceed with caution proceeding with the next

investment and update the poefrmts with mi diversify. "mad money" is next. president trump making some comments about a potential deal with china let's get to ammonafters in d.c for the latest amon. >> the president is speaking right now on the south lawn to reporters. according to wire transcripts we get in in realtime, the president just said two things that might be of interest to our audience one is he said he would rather get a whole deal done with china than interim deal. but the president telling reporters he guesses he would consider an interim trade deal with china this goes back to this debate from earlier in the day reporting back and forth of whether or not an interim deal is under consideration inside the white house. the senior administration official told us earlier today that it was absolutely not contemplated by the white house. now the president saying he guesses he would consider it but prefers a full deal rather than interim deal, melissa. >> thank you, ammon.

>> happy birthday chris ver own. bogey bifurcates. >> jp morgan long np jdx buy that one. >> happy birthday chris ver own, exxonmobil get you kun >> does it for us see you back adon" thorrow at 5:00. "m meywi jim cramer starts right now my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain, but to educate and teach you so call me at 1-800-743-cnbc or tweet maine @jimcramer. i hate to say it, but i think the buyers are getting complacent i