>> the countdown has begun for that. >> wow, i think we're at blast off. >> the countdown has begun to "fast money" for our viewers thankfully and a fresh bit of frg on friday ten seconds away lucky you. everyone have a lovely weekend out of time that does it for "closing bell." >> happy friday and "fast money" begins right now live from the nasdaq market site overlooking new york city times square this is "fast money. already have a good time on the set. >> yes. >> i'm melissa leave traders on the desk. and joined by jeff mill chief investment offers at brid more trust. health care stocks jumping as the president pushesfare price transparency in the industry why the sector could be the single best opportunity in the market the chart of the week. one whale making a splash betting on this name we'll tell but it. and time to blanc and chill on the cold november night what one stay at home stock -- they most

want to cozy up with for the long winter. but a major milestone for the dow, closing above 28,000 for the first time new records for the s&p and nasdaq united technologist, alphabet, microsoft all hitting record levels is the market headed higher and higher >> that's a miserable song, isn't it. >> you know there was a time and place for it but it's not -- this is not the time and place to talk about it. >> nor the place. >> kudos on the devg but me that thought the market is grinding higher so many headwinds and things to be concerned about and we rattle them off the market doesn't care. the vix closes at 12, in my estimation way low in the environment but the s&p grinds higher on a day where the only real news is the president part of his administration talks about getting closer to a trail trade deal with china i thought we had phase one signed a couple weeks ago. earnings god but i do think this market is

not nearly looking at all the negatives closely enough and at a certain point they matter. i don't know what the exoxygennous event did. >> a lot of people felt the way guy did. and that's why we march high are was because positioning was negative now you have two months left to gain where you want to be in the market that's why it's going higher in my opinion. >> and s&p, by the way, up 25% this year. this was -- this is one of the quietest great years of all time and if you think about it also, you know we're coming out of the period of the negative rate spiral the normalization process to me also i think is a big part of some of the health of the market i know jeff has views has views and technically and tactically i'll the let him talk about. steve is talking about the position attention of pain sorry about the song, guy. i think we started normalize it a bit. but the things you should be comfortable about as an investor

is decent guidance we've had a dynamic where the dollar has settled into a range. there is a lot of folks calling for slightly weaker dollar i see not only rates normalizing -- and that's not a bad thing. good for equities but i see basing in industrial commodities. global markets with a glide path into next year even if a little zanny right here and google and apple and microsoft. make up 30% of the triple qs think about those charts all three of the charts may be overbought but if you are lacking for what takes the market higher, these three names are cruising and i think that's good news >> we're long-term investors we don't see a recession next year. when that's the case we're fully invested most of the time. the economy looks okay and the yield curve resteepened. employment good. for all those reasons the market rises the next six months. and some of the major headwinds, trade, global growth, looking

better for better or worse probably worse over long-term you have the liquidity m2 money supply is growing double the pace of gdp money needs to find a home but to tim's point tactically if you want to look for a pause or pullback you could get one the s&p is technically overat bought ugt you have a quarter of the index trading above the 65-day moving average. some of the indicators i've been pounding the table on over the past months. slo slowly moving the other way. i think the leadership has been interesting this month the market grinned higher but led by tech abreal estate, and utilities. energy, financials and consumer discretionary were the laggards. maybe under the surface there is need for a pause or pullback. >> but if you think about it you can unwind on rsi that's overbought in the s&p doesn't mean you have to sell it off you have to unwind it naturally. i think the biggest out of all the conditions is the fed. the back dr. platz of the fed is off the table now. he is a dove

and will remain positive on the markets. >> i also think the back drop of everybody calling for recession and it was just a countdown when do we get it we have 12 to 18 months before this we're not getting a reis session in the near term but we got data this woke and today from the new york fed and atlanta fed, a bit more hawkish in terms of fourth quarter 0.2, standpoint 4. but if you look at prospect 2020, the job market where it is it's difficult to see where we technically at least -- >> i don't know if i'm willing to make that bet that we're not getting a recession. i'm willing to bet that this. >> we'll get a recession. >> we were calling for it in the -- sure. >> people were calling for it. had their eye on it. looking at global data and saying we are getting just a matter of when. >> when the fed says -- it's not so much that he is not cutting rates anymore. it's that the barometer or the benchmark for him to raise rates is incredibly high.

>> very high. >> that pushes everyone in the most risky of assets and that's the market. >> it's interesting, gdp started the year north of 3%, probably coming in half of. so things are moving in my opinion the wrng way but steve and jeff is right. you have this money supply, sayway you want, i mean this is qe by the fed. neck say it's not. it clearly is. >> i mean they they defied it up there. >> balance sheet will continue to grow. i mean they stopped raising rates obviously. i mean, this is quantitative easing and the overnight repoe think we don't talk about is a big deal at a certain point who am i to argue with this? the one thing interesting thing is wal-mart, i think valuation finally mattered with wal-mart in the quarter it wasn't disastrous but people woke up and said wait a second wal-mart shouldn't be trading at 24 times next year's numbers. at the same time they'll probably say the same thing about microsoft.

valuation will matter. >> on wal-mart specifically they haven't grown ebidta when you start to grow that digital or e-commerce, it actually costs them more than someone driving up to the store. >> the product mix has not been official. >> product mix is not beneficial >> it's grocery razor thin margin. >> you saw that in the retail sales. on the headline the retail sales is okay. but stripping out autos and gasoline it was weaker number. wal-mart, target, big box, they had their place i think in a market where we questioned recession and it was a safer play you know, the fact that they printed -- it's yesterday's news but printed 3.2% on same store sales which for wal-mart is good. >> let's talk for positioning for a second and getting back to economic fundamentals. i think there is evidence gnat global manufacturing cycle is bottoming. you see more evidence of p michlt is here and globally turning up in the first quarter of 2020. what do you want to do in that

environment? that's when you see the durable rotation in cyclicals. and if you see them do better you you are seeing international stocks do better lock at the msci tilted for cyclical toward the s&p. if you like value and cyclicals pay attention to international because our clients when i speak to them they're yun invested in internationals because they just haven't wondering recently. >> contrast what jeff is saying, guy, your view of the market is do youer. >> 100% but wrong as well. >> so invest in the market or trade the market you have right now. >> 100%. >> and not industrials. >> i don't think it's necessarily industrials. health care i think is starting to pick up steam again we've talked about that. you see what happened with the hospitals names like unh on the back of the comments from the president. but this started prior to that as well pl health care still energy seems to have found a bottom in the short-term industrials sort of scare me i understand what jeff is saying

maybe things have bottomed and that's the best time to get a lot of these names but i don't think -- i'm not ready to call a bottom yet in a lot of the industrial names. >> i'm going with the cyclical play because i do have exposure elsewhere to tech. but i'm going as -- the soukle basis has not panned out so far. but west rock is one of my names olin corp. one of my names i hope is lasts longer than two or three days of the uncle ip. >> but i worry about the cyclical trade from now through the end of the year. as crazy it seems i think we are digesting tighter financial conditions a bit. >> there are trough valuations in the cyclical. >> i agree but you can see pmi prin lower when they push lower then you see cyclical not do well. >> priced in. >> yeah. you like value but i would wait until q 19 because that's when you see the durable bottom i think that lasts a while a bit late to the game for our clients isn't the worst thing in the world. >> i think having a bar bell

approach owning something here and something here and short something in the middle but that's trader speak for i think owning semi conductors and ultracyclical stuff not only works but continues to work. i look at fedex that a trough multiple, been struggling. and the chart guys i think should be telling you you built base this is starting to challenge to the upside that's the stock that moves to next year especially if we have seen this bottom on pmis i don't think anyone here is saying bottom on pmis is off to the races. it means stabilizing that degree of change is that much more impressive when things go from awful to just bad. that's when you get the biggest moves. >> coming up it's cold, windy our traders have decided that they are staying in tonight. but not all of them are netflixing and chill netflix and chilling. >> yeah, i was going to say. >> what toes that mean. >> i'm not up on that lingo. but they will are tell us the names they are cozying up for the ultimate night in.

find out which name grabbed guy's attention during the vecord week on wall street li from new york city times square much more "fast money" right after this guess who just got reinstated! well, not officially. nervous? yeah. yeah me too. don't worry about it, we'll figure it out. i'll see ya in there! just ok is not ok. at&t has america's best network, now with our best plans, at our best prices, starting at $35 a line for 4 lines. new from at&t. by the way, she's the it wasnext mozart.g day. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine,

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let's get to our call of the day. barkley getting appetite back for grub you hub raising the price target 89% telling the jint it's time to buckle down and prevent further erosion of the stock grub hub down 48% for the year even though rallying on the call this was the management team that said the problem or one problem was promiscuous diners. >> i don't know what that means. i'll talk about maybe diners not committed. how about that. >> yes they will use any service which willy nily. >> i think the stickiness is ultimately the question .. the competitive landscape is the question and the values is where this was difficult. people priced them on growth they saddled up to major brands in terms of partners but the argument here by barclay, is it overdone? i'd give it more time. the competitive landscape is getting worse. >> slowing growth, shrinking

marginen a high multiple stock yes it could last longer and grub hub wasn't made for this it was a platform that began to deliver for me, i would say away from this ketly i think the whole group is a sell -- grub hub in particular is the biggest sell. >> i read the research note looked like it was $50 and above in machlt and a situation. they're waiting for somebody to buy the company. that's not something we want to wait for management has not proven themselves >> it went from 60 to 32 in a straight line -- what did you say before am i allowed to say that. >> on the. >> promiscuous diner >> what's wrong with that. >> i don't know what it means. i don't know what they're doing in the dining rooms. i want the craziest thing. 60 to tp, the 50% retracement of the move is 46 you can get the $6 move on the back of what we have seen. big short interest they can get squeezed in this for sure. >> the grub hub call got us

thinking great time to be a couch pot on it look at the different options for the ultimate night in. so after tonight's show our traders will head home kick-off the shoes cozy up to the favorite stay at home stocks so, tim, how are you spending this chilly november. >> i'll tell you it's chilly, the first thing i'm going to do, mel crack a bottle -- i hope i didn't crack it on the desk. 531, time to take out a bourbon. and kickback think about what i want to do for the weekend we talked about promiscuous indining i think the weekend stay at home is match. i know it sounds naughty better not be promiscuous dining at my house. my view is this. we have seen the secular move to online dating services match went threw the roof and caught some sense of things had turned around but that third

quarter number, 451 million in revenues, the sense sf new projects a couple of properties with record dloeds. you might want to look hinge and okay coupe i had with massive growth in india. a company is global. and the growth is there. if you want to stay home and swipe right. >> this is the research. >> feels like he is living it. good job. >> what's the hinge? what's the hinge. >> it's a dating service >> hinge, the hinge. >> hinge. >> just hinge, no the wsh like eagles not the eagle. >> 2 million downloads. >> i know what i'm doing. >> this is a teddy bear. they are all over my -- it's my teddy bear they are all over my house i have three kids all girls. all 6 and younger. if anyone should be drinking tim with all due respect it should be me. >> i'll pass this over to you. >> the next best option is to have them sitting in front of the tv happy, not talking. i'm going with disney.

we have the disney plus release. 10 million subscribers i think the outlook was for something like 8 million threw the end of the year. those are with big numbers i think there is more growth there. both domestically. internationally. but the stock went vertical after the big subs number. i wouldn't necessarily buy it here you have a big gap at about 135. i would like to 135 to 130 to buy but i like the story long-term. >> grasso, what are you doing tonight. >> snuggle up. >> whoa. >> i have a few kids of my own i'm doing some gaming. i'm winding play x box, play station. you know what processer are in those? amd. >> come on. >> amd and all in the processing units are growing. this is overbought up 108%. but it's still going higher. >> looks like a cozy blanket. >> that's a nice blanc et. >> i would have had you in leprd, steve. >> i got something cozier. >> cozier than the blank zbleet

100% the mister rogers movie coming out. you familiar with mister rogers. >> he takes his shoes off. >> he put the slippers on, the mister rogers. when i was a kid i watched that. tom hanks portrayal is oscarworthy. but people don't know that he likes the chipotle mexican grill. cmg and it sold off in a meaningful way after earnings in october. it's sold off enough to dip the toe. i had to. >> is your foot a size 6, women's. >> women's >> not -- sorry, man i'm sorry. >> you're not sorry. >> keep going. >> no, it's fine my feet are what they are. >> they're dainty. >> they're dancer feet >> good for you. >> love them >> all right. >> still want to know your pick. >> cmg, the mister rogers pick.

>> nice work. >> any thoughts on each other's trades >> well tell you i think steve outside of his blanket i like what he is doing on the gaming i active activision if you think of the stock stabilized, multiple earnings 21 times you have the dynamic in the pipeline that you have some tailwinds after difficult comps. it's a name i'm long big into gaming and that's all the kids are doing. >> how about cmg >> i don't know about cmg. i think you have a little bit of a reversion back on this one it's -- i don't know, burt burrito. >> guy needs to be at home having them. >> the multiple prepare stations and not all the franchise have them so you wait in line i don't know, i think it's run its course due for pullback. >> do you have circulation in in your feet. >> no. >> he hacked off all his toes. >> now i got to show them again.

it's the craziest thing they make me do. >> those are your slippers you brought them in. >> you didn't have to tell people that. that's not right. >> coming up on "fast money. here is what else we have cooking. >> restoration hardware getting a boost as warren buffett makes a bet on the home goods retailer we'll break down what the company is doing right and how the markets are betting on target ahead of the earnings report next we can we'll bring that you and more when we come back. sundown vitamins are all non-gmo, made with naturally sourced colors and flavors and are gluten & dairy free. they're all clean. all the time. even if sometimes we're not. sundown vitamins. all clean. all the time.

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restoration hardware an $85 stock in june and having difficulties one of the reasons people thought the tariffs with adversely affectpeople thp but now more than doubled. warren buffett taking a stake. coming off a great quarter 12% revenue growth and you say there is no way it can be valued now given the run. it's only trading at 16 times next year's numbers. relatively inexpensive where it's traded before although it has a huge run and mr. buffett is in. it can go higher >> this was at one point a turn around story and management change story and also them getting really the restoration club hardware club onboard you become tied in the ecosystem and it works i can tell tu works. this has been part of the home improvement trade. rather than playing home builders i would be in home depot, restoration hardware, sherwin williams backup these are ways to play i think a consumer who has a job, a consumer who is investing no

their home and i think this is play as guy talked about, the multiple here is not aggressive and a name you could stay long. >> furniture was a weak spot in retail sales today if you were to play the consumer and the home trend, what would it be. >> i don't know that i would look at one retail sales report and make a judgment going forward here but, you know, it's a reasonable point. i think you are talking about a stock 30s% above the 2007-day moving average maybe a pullback if you get above 192 there is space to 200. children i i like it and the valuation is good and i would ride it. >> this is definitely a stock close to overbought but when it's been overbought recently it's unwound without coming in hard hon the name. it's a great year to date performance. i think you're okay still owning the stock at these levels. >> buffett bought rg thing small positions but interesting stocks. >> makes you words if it's him. >> or his.

>> oh. >> who might take over. >> slb take over for all of us at some point isn't that true. >> and ininherit a nice pair of slip zblers that's true because they are so small. >> you know, that's ha ha, mel. >> final trade time tim. >> guy i love the slippers no matter what anybody says i love fed iks we talked about the cyclety. talking a management team maligned but i think fred smith is one of the best in business fedex. >> jeff mills. >> we would be a tactical seller of apple we like it long-term but we did trim a little bit today. we think it's gone too far too fast talk bag a stock 25% above the long term moving average i would like for a pullback. >> steve grasso. >> i have a three-day rule and didn't adhere to it. in shake shack it's a 6-day rule. i think you're okay buying shake shack here. >> you could have used that rule

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