deere. earnings are slowing down but not done by a long shot. >> all right thanksgiving, too. holiday week expected lower volumes, right, mike >> lower volumes but i think the friday, you know, people actually pay attention to how the markets end. >> yeah. >> major highs and lows. >> that does it for "closing bell." >> "fast money" begins right now. live from the nasdaq market site overlooking new york city's time square this is "fast money. i'm melissa lee. it's tim see more, brian, 10% over the past ten months they give us the favorite names in the space bright spot in energy. the chart master has one name that's poised to pop the one chart that caught tim's attention this week. he'll tell us what it is we kick things off with a bang >> oh, my god. >> the expletive tesla shares like the window of that trurk getting smashed

today. analysts and investors a little car sick the company's futuristic and funky. now you're hearing from tesla's ceo elon musk. we get to phil lebeau with the latest >> reporter: melissa, a tip of the hat. i believe it was yesterday was it guy that said sell on the news >> yes. >> reporter: it was. he deserves a tip of the hat he would not be surprised if shares dropped today they did that's because a lot of people are looking at the tesla cyber truck saying how much is this really going to move the needle for the company? there was so much buildup going into this saying, wow, this could really threaten the big three potentially down the road. no, this truck is not going to potentially hurt the big three any time soon. there's limited market potential. that's the general feeling of all of the analysts who watched this unveil. it's a polarizing design there are people who like this, who may buy it in 2021, 2022,

the real question is will it pay off. nobody's sure if that's the case then there was the epic failure of the armored glass windows that were billed as being stronger than your average truck window that's what happens when you throw a weighted steel ball at it not once but twice, which had some people today saying, didn't they test this out didn't they know this might happen just within the last half hour elon musk tweeting we threw the same steel ball at the same window several times right before the event and it didn't even scratch the glass keep in mind that the cyber truck now joins three other vehicle products that tesla has said it plans to build so the pipeline right now in terms of what tesla plans to build, they've got the semi, they've got the roadster, the model y which is the most important of all of those models because of the volume and then you've got the cyber truck the model y, by the way, is the one people are focused on because it's going to be going to market later next year.

as you take a look at shares of tesla, again, guy called it yesterday. sell on the news, and that's what we saw today. stock down more than 6%. >> bill, when you said limited appeal, do you mean limited appeal in terms of taking away share from, say, a ford f-150? >> correct correct. look at the end of the day a pickup truck is generally about functionality. are there some people who buy it for lifestyle, melissa yes. but in the overall market of pickup trucks that's the smallest percentage of buyers. probably maybe 5 to 10% depending how you categorize it. even then some people are looking at this saying is this even too polarizing for people who like a lifestyle pickup. >> it has an atv that goes up on the back and charges that's pretty functional. >> that is functional. >> phil, thank you phil lebeau joining us from chicago. i'll go right to you guys since you called it. >> i didn't call anything. i didn't know that he was going to throw a bowling ball at the window and -- >> what a surprise

>> shocking. >> go figure >> if i had said that, i'm a genius i didn't say that. you look at the stock. you have the old high we made back in july of 2018, 385, december high, 365 if this in fact was the most recent high, you have a series of lower highs that's not very good, especially over a year and a half, two-year period i'll still say stock traded two times normal volume. obviously down 6%. i think you've seen the high for quite some time. i've said that for a while and been wrong but this might have been the catalyst. again, i had no idea he was going to shatter the windshield, side-view mirror the market was looking for an excu excuse. >> they should sell those balls. >> no question about it. >> the balls can break the glass. >> stock up 64% in 34 days it was over bought it was looking for a reason to sell off if it sold off because of these hard balls, i'm pretty sure it's a buy at this point. isn't that what's supposed to

happen with bullet proof glass it shatters this way, not in. >> didn't go in. >> it didn't go in >> it doesn't go in. i don't know how much of it really -- do you think it sold off because of the ball going -- >> the extra hard balls are not -- >> you are having too much fun talking about these balls. >> we said this last night, guy's salient point, whatever it was, i think we outlined it, this event was not an event for the company. this was a bit of a side show. we've seen it with the semi. we've seen it with other vehicles whether guy says this is the high for a long time or i would say i want to wait and see that balance sheet again. i want to see profitability, pre-cash flow, 360 or 400 in deliveries, i think we got a lot of good news in it over the last whatever it's been i think there are a lot of people a lot of people short. a lot of people betting against the company. i think right now there's been a lot of good news to price it up and now we have to see. >> it's going to take some time

to get to 385 if, indeed, we are on this run higher you have an awful lot of overhead supply here the best thing you can say, he has a lot of products in the pipeline that means he has a lot of deposits that's financing the company for the time being that's not necessarily a great business model wall street isn't going to reward that. you still have all kinds of issues with the company so up at 360 or 385, somewhere around here the risk/reward just isn't there for this company there's too much danger out there. too many tape-ons that can come out and hurt you. >> it worked off an rsi that was overbought pretty quickly. this thing was over bought it was looking for a reason to sell off it had an astronomical runoff in the last month but the fact that it worked it off, to me, i'm bullish on that. >> you can make that argument as well it's been the right argument for a couple of months the second derivative play is ford can do something clever on

the back of this built ford tough, have their commercial where they have a how witser and shoot -- they could have -- >> they could have a wrecking ball and hit one of their cars stage it so nothing happens. >> it's not even that crazy a thought. >> maybe you could sit inside the car. >> i'd do it for them, for the right price. my point is, ford could at that point tallize on this. maybe the stock for the first time could be interesting. gm as well. >> they're not going to sell more f-150s because this is a failure. >> crazier things has happened. >> i don't think this takes any market share from ford there are very few people that buy this vehicle that are saying, you know what -- >> that would have bought an f-150. >> i don't think that's going to happen. >> this is a totally separate user >> before you laugh me off this set. >> uh-off- >> maybe we're underestimating the appeal of this truck take a look at this chart. this shows the number of searches for this cyber truck and compares it to the number of

searches done the day the model 3 was launched they are bullish the stock that's the caveat to this whole thing. if you look really carefully there are some states which you would think would be pickup truck states like montana. the number searches relative to the model 3, 223% higher for the cyber truck. >> but they didn't throw a bowling ball through the 3 that's why everybody is looking at look at the states it's in >> not a lot of population. >> ford, dodge, chevy. >> let's not lean on montana. >> we don't know if they're laughing at it or they're actually thinking about buying it i would argue they're laughing at it. >> the first time you saw the truck did you think it looked better three hours after you saw the truck? >> i think the fact that we're having this conversation -- i think -- look, how many people have searched it or whatever the whole point i think with tesla is, look, there are great ideas, great vision, great streamlining, great products, excitement, innovation there's all of these things.

that's the dream it's a trillion dollar dream what's going on in terms of execution? if people are searching -- i'm not surprised you see a "mad max" car that does whatever it does i don't think that ruined the sentiment around it. i think there's a lot of excitement about something that looks like that. tesla is about execution and about reality. >> and price point of this one, too. >> not making anything for the price of this. >> if you look at the model x, the model x, the way you want it equipped is over $100,000. no one is looking at that. the model 3 and this model is an affordable tesla. >> the only thing when you take a look at the price point, the price point is fairly low on this pickup, correct >> right. >> 45. >> we don't know how much it's going to cost to produce. >> the glass has to be cheap. >> the model y, for instance, shares many, many parts with the model 3. there are synergies, efficiencies to building out that model y so with this truck we have no idea and if this is just going

to be a lark -- >> this has been the knock on tesla the whole time to tim's point, the reason you're buying this stock, you're buying the dream they've had a tough time executing. every time the stock sells off it's because they misexecuted. now add one more thing onto it add one more cost into it. that is probably why the stock i think stays below 380. >> so they mis-executed, fine. the stock being at 333, doesn't that alleviate a lot of the pressure when it comes to the bear thesis that it's going to run out of cash? if they went out and did a secondary -- >> yeah. >> the capital markets are more open to them at 333 than they were at 240 or 270. >> that's fair i don't know the answer to that. i don't think the market would be as favorable to them with a secondary now than they were a year and a half or two years ago when every secondary, there were probably five or six of them, were actually tremendous buying

opportunities. i don't think that exists. that's my opinion. i think we're in a different world for tesla. >> importantly you want to buy after the secondary is announced. if people are out there thinking you buy it in anticipation of a secondary, it's generally traded at a discount. that means you want to buy it after it's announced then their balance sheet is fortified. >> i think they do a nice job with a lot of different research on this company. part of their view is this is truly about big data, technology this isn't even about autonomous so to the extent that that goes into your valuation, i think we're talking apples and oranges between not only this but the next wave of ev cars. >> those folks that are that bullish are thinking about the same thing. coming up, takeover talk giving a boost to l brands plus a bitcoin bust. we're live from times square in new york city. much more after this

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it got upgraded from a hold at evercore what's next, grasso? >> all of these companies have to figure out a strategy to save them if you look at this and you overlay them, every other stock in retail popped the same time l brands did it keeps short sellers on their heels. i don't know what's in store but this has been rumored for a while and the stock has been obliterated before this. >> you look at how the stock has trad traded $16 has been your level. you can shoot against that this stock has been a disaster for the last several years if you want to try to bottom fish, i don't think the risk/reward is that bad. let's say they get some kind of a deal, some kind of a buyout. what's the premium on that i would be surprised if it's very, very high. i think you have limited reward for a known risk. >> who could buy it? who would buy it >> there are brands there that are worth something. i think bath and body works as well i think this sounds -- this

seems like private equity to me. >> right >> this does seem where you have to do some of the parts, look at the brands, make them more profitable why did they fail? probably because the mall has failed because the distribution channel has failed maybe they haven't kept up with the times. surprised we haven't run gratuitous l brands footage. >> why don't we do that? >> because we're no longer -- because we've risen above. >> we have >> i'd like to think we have >> did you listen to the early part of our show i would say we didn't really rise above >> oh, man. >> switching gears check out the biotech's big run over the last ten months up nearly 10%. earlier today you said this is one of the best looking charts in the market. >> biotech is up 20% and it's something that i think is a combination of where you have had some oversold conditions driven by macro.

looking at biogen. if you look at the m&a, you look at the pipeline, it tells you that i think there is a combination of catalysts and fundamentals at work. >> closed at 299 and change. from the 220 level it was meandering if they caught this move, the $80 move in biogen, i still think there's room to the upside amgen is at a stealth run. biotech has done well. right now they don't have a giant bull's eye on their back at least for the foreseeable future. >> the way to invest is through the atf, the ibb you get your amgen, biogen, up 18% year to date you don't have to worry about a blowup you get a host of them and it mutes your risk. >> i do like the spreading the risk type of thing i go more towards the smaller midcaps which are in the nasdaq

etf. on both of those i would caution i think you have time to wait here we have these big moves. there would be no problem with -- you could still have a bullish take on this with everything that's gone on. the good valuations and still have these things pull back because they've had such a big move so i would say wait a little bit. maybe wait a week or two let it digest itself let it go into the etfs. >> did you see how carona therapeutics -- >> up 380% on this week alone. >> that is one for the record books. that was -- that's an ipo over the last six or nine months, i think. >> the data came out it was extraordinary to them you have the move up to 140. secondary they announced my point is with biotech you see the types of moves that you can have then you're talking about stocks that have pipelines and have balance sheets like an amgen, like a biogen and at these valuations you make a lot of sense.

i think that move that you just talked about illustrates the point that biotech is not dead by any stretch. >> if you are in the market looking for beta, right? i mean, there's all this sort of reach for risk in this sort of market environment this could be one example of it. >> without a doubt, particularly if you don't diversify and you go single name you can get a really big bang for your buck but they are a lot more like call options than they are equity investments. >> for more on caruna, you can check it out from "power lunch." head over to cnbc.com. here's more of what's coming up on "fast." trade, recession, the election with all of the uncertainties for the market in 2020, we lay out an options play that can protect you on the down side l tt ditin blitz in by tco alofhaanmore when we come back.

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welcome back to "fast money. bloodshed in bitcoin prices getting ever so close to the q level. china promised to crack down on illegal trading platforms. are we in for a long-term pull back in bitcoin? b.k., what do you say? >> i don't think so. this week and this selloff was an important low i think there's a couple different things going on. you mentioned that china is cracking down. there was speculation that china might unban some of the cryptocurrency trading if you look at some of the fundamentals, i look a lot at addresses. address growth what we're seeing over the last 30 days is we're seeing growth in addresses of about 5% but the market is pricing in a decline

in addresses of negative 3%. so it's mispriced here fundamentals are improving on a selloff. the odds are stacked that this is probably a low. >> when you say fundamentals are improving in a selloff, what exactly does that mean >> if you look at any of these -- any currency, it works just like a social network it's the network effect, right you want to have new users when i look at addresses, you think of those as maus, monthly average users that we see for facebook, twitter, those things. if you see those increasing, those are positive fundamentals and that's what's happening in this case. >> how much of a correlation do you think there is it's more and more with gold now and it's more and more with powell when powell is thought to be cutting rates and now we're in a -- sort of a system wide foundational level for rates, we're not going any lower, we're not going any higher basically but it seems like that's a major he headwind for bitcoin. >> the global macro players have

been in bitcoin more than they ever have been more and more it's a macro trait. we saw a lot of activity around the brexit votes we saw a lot of activity around the ecb and fmoc yeah, your observation is absolutely right it is getting a lot more correlated with the global markets. >> tim has the one chart that stood out to him this week it is called the chart of the week >> love this >> here we go. so now we're talking about the chart of the week and i'm talking about the 10-year treasury yield the reason this is the chart of the week is because the fear of the trade deal and bad data and jobless claims, we started to get to that place where yields tested the bottom end of the range. this is a six-month chart. if you look at where we are off of those lows, we held this week when i think is the bottom end of an up trend line. what does that mean? it means yields are going higher ultimately i think that's equity positive yields may be going higher, 1, because global central banks are

believing or certainly tired of believing in the efficacy of lower rates. bank of yeah pan who i think is the ultimate culprit has been going out of their way to let you see yields go higher i think what that means is the industrials trade, the rotation we've seen into both cyclical and even commodities which i think are starting to base this is a very good sign it doesn't mean we're going to run away from here it looked like at one point this week this chart was going to break down it looked like we were going to test lowers and be in some trouble which would have been bad for equities. >> you look at the tlt, that's the way to play it i understand what tim is saying. my push back is you would see the move down. we've bounced back sort of squishy. i think camps are going to yield back lower i think we're going to retest the lows at 147 yield or basically 148 or so in the tlt i think the tlt rallies from here. >> that's interesting. for equity investors you want a roof or a range bound tray at

this point in time too low implies the economy is getting slower too high we know starts to have the re-allocation away from equities into bonds. bonds at these levels, you root for them staying right here, maybe moving up a little bit in rates but not much >> it is time for the final trade. what a picture. >> already >> what a nice segue i would be rooting for cisco because i think when you look at the enterprise, this is really more of a software company to me, especially in security i like cisco take a look. >> b.k., brian kelly. >> you know, you look at what's going on in commodities. gold in and of itself looks like it might be bottoming. >> snap, i've been on this one for a while. it moves higher. they added j.v. with verizon with 5g phones you'll have room to the ipo price which is 17. once that gets elected you start to see funds come back into it i think it pushes it much higher from here. >> guy >> this is your last chance to see o.a.

>> turkey day, the day after gobble, gobble. >> next week there's no o.a. you should lock into the carter braxton worth, michael coco beware, very important i think eertfrpo mcmaran. >> don't go anywhere "options action" is up right after this 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, no matter what. it's unbelievable what you can do in the prius. toyota let's go places.

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i think sofi money is amazing. ♪ thank you sofi. sofi thank you, we love you. ♪ happy friday, everybody. it's time for "options action. here's who we have tonight on the show coming up on the big show tonight. controversy after a report about a big bet from the world's biggest hedge fund dan nathan outlines how to play it from home. then -- >> the energy. >> carter worth is looking at one stock from that sector that could be coming back from the dead plus -- >> ahhhhh! >> if you thought that was a crushing scene, you should have seen what happened at the tesla

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