people look out for. oil fell we also saw gold rise on a day that we saw equity selloff definitely a big set of warning signs coming out only one day we hit interday highs today. we should keep that in mind. >> that's what he would say. it was one day and we're coming off a strong week. keep it in perspective. >> i hope he's not watching. "fast money" starts now. >> so predictable. "fast money" starts right now. tonight's trader lineup, guy adami, bono, ice sin why the pop in pfizer on positive vaccine news may be overdone plus, disney world reopening the doors in orlando we will talk to one adviceor there on opening day you loved it so much, we are bringing it back send us your questions, we may answer them live on air. we gibb with a major market reversal closing near the lows of the session. the nasdaq dropping more than 2%

after hitting another all time high earlier in the session. the selloff coming as california governor gavin newsom rolling back reopening plans as coronavirus cases spike in the state. bars, gyms, salons, malls, other businesses ordered to close indoor operations in 30 counties that represents 80% of the state's population does this officially put a close on the reopening rally guy? >> i don't know -- again, i don't know if this was a rally on the reopening or hopes that there was some vaccine out there or the fact that the fed is back stopping this entire thing, but i'll play your reindeer game, mel, and say this was the reopening rally. i'm shocked that people are surprised that the reopening is not going as well as a lot of people were indicating it would. so it should put an end to it because on top of that, as we just talked about earlier, or

sara and wilf talked about, you had one of the biggest reversals in the market. it looks to me eastererily simio some of the moves in late march when the market was on the down side of things the fact that vix at 10 a.m. was turning positive and i actually tweeted about that, that to me was the things that make you go hum moment of the day. >> jeff mills, how do you process the reclosing of california i mean, california's a very large economy. it means a great deal overall in the gdp and here it is shutting back down. >> part of the market action doesn't make me feel very good in general it's what we're dealing with now, in the morning the market is up on the vaccine hopes and you have the opposite in the afternoon and the selloff. you have certain positive elements you have pmi, good employment data if you look under the surface in

the elements the market was telling you we were going to have a problem pmi's rising typically you'll see cyclic calls and they were moving in the opposite direction the labor market, we added 5 million jobs 40% were leisure and hospitality. given all of the closings, what does that mean for july numbers? i think you have to look under the surface. all of the elements were telling us you will have a hard time moving higher. we talked about the technicals and the market, 95, 96% stocks trading over the 50 day. in the past few weeks that has fallen to 50, 60%. you've had that on the surface i've been cautious for a while and now i think we're seeing it today. we'll see if it sticks i don't know if it's the end of the trade. i think we'll have a problem moving to the bottom line. >> bono and guy mentioned things that make you go h'm

here's a look behind the scenes. on the 12:30 conference call guy and b.k. flagged a vix that was rising bono, at that time you said not a big deal, but here we are. we did have a major reversal looking back, what do you think? >> you know, i'm going to stick to my guns here. the point that i was making was the vix was a 1.8, 1.6 move. there's only a 30 basis points spread there while i understand the vix is often referred to as a fear spread, it's tracking whether it's up or down, the amplitude of that move you really need to be aware. if you think we are going to climb, you've been missing the

entire party there is volatility in the market. >> we're having trouble with guy kelly's shot apple, facebook, amazon, tesla just to name a few is that troubling? this is the area of the market you wanted to be in because you didn't know what this year's growth was going to be, next year's growth was going to be. you knew what their growth was going to be two years, three years, five years down the line and interest rates are low >> is it troubling yes, it is is it predictable that i would say that absolutely it is folks are saying, of course, mel, guy's going to answer that way. if you're just being agnostic and looking at the day's price action, it absolutely is troubling. dan nathan mentioned this to me

and it's something i brought up on the show last week. i think today is july 13th prior to today i think friday of last week amazon alone had added almost 1/4 of a trillion dollars to its own market cap and there are only 22 stocks in the s&p 500 that have a market cap that large. i mean, it makes -- if you really think about it intuitively, it makes absolutely no sense other than the fact that the fed has flooded the system with liquidity. i agree with what bonawyn said 100% if you were to ask a fed official that focuses on this, i'm sure most of them do, i think they'd be shocked that on july 13th given the amount of money they poured into the system, the volatility index stands at 32 i think their hopes and dreams would be volatility would be tapered down, the market would be moving up in a measured way and we'd be seeing vol closer to 17 instead of 30 to 35

>> i believe bk is with us we'll try and go to you, bk. what's your thoughts on the reversal we saw today? >> yeah, i'm here. hope you can hear me and, listen, i mean, the way that some of these nasdaq stocks have been trading, it's exactly what a top looks like, like a blow off top so i don't know if this is the absolute top, but i do know when assets go up 60% in ten days, that's a blowoff top that's what tesla did. as much as you can like tesla, as much as you can say, hey, the wave of the future, it's going to decarbonize the electric grid, when something goes up by 60%, that is a crazy type of thing. so we have that reversal today now we have to figure out what does a thing look like frankly i'm not sure yet but the market's going to shoot first and ask questions later. >> we do have companies responding to the surge in covid cases we are seeing across the

country. kate rogers has the latest. >> reporter: reuters is reporting that yum brand's kfc will be closing dining rooms at company owned stores in florida offering drive through service only the story cites a letter to yum's kfc franchisees and they should strongly reclose restaurants for dine in service in arizona, california, florida and texas. we have reached out to them and we have not heard back this is not the only major chain we have seen taking steps to prevent the spread of covid-19 mcdonald's decided to hit pause on reopening the dining rooms on july 2nd taking a breather for three weeks to see what happens. starbucks saying beginning on july 15th this week customers will be required to wear face coverings when entering company-owned cafes. workers have been wearing them for some time at starbucks our own cnbc research polling

shows among likely voters, right now only about 38% of respondents say they feel safe to go into a restaurant and have dine in service at this stage of the outbreak that number has been dropping every time we ask. back over to you. >> kate rogers, thank you. jeff, i'll go to you on this this goes to the point of we had seen better trends because there were reopenings across the country but once we get reclosings, will those numbers reverse as well? >> yeah. that's what i've been afraid of, quite frankly. i pointed to this before when talking to the airlines. anything where you're going to get a high beta to the reopening trades yum brands included maybe not as bad. air lines, casinos, cruise lines, they're trading at a correlation of close to 1. you haven't been and you probably won't continue to get idiosyncratic exposure by investing in the names you're investing in the reopening. when you see numbers spike and people pulling back and

withdrawing, those are the names that are going to get hit. i do think that you have to worry a little bit about what's been going on in tech as well. the question is where do you go? carter may have talked about this on the show, but you think about the top three stocks, amazon, apple, microsoft you've got 70% of the s&p 500 right there. you add google and facebook, you're at 25%. you have vul ner ra biltd in the concentrated areas that have been safe. you have vulnerability in cyclic calls. it's tough right now. >> i don't know if we got the answer where do you go? bonawyn, that's a question people face. then you see the reopening trade, those hopes getting dashed in today's trade. what is that answer in your view >> i mean, i think the market's been taking it, telling us it's not my view, it's the market's view which is large cap tech

i will expand on that and i will say some of the chip stocks as well frankly, some of them are quite cheap trading in mid teens to low 20s in terms of price to earnings and then if you really do want to believe in the economy reopening, chips are -- excuse me, chips are included in everything from, you know, technological advancements to cars to medical devices. if you really want to diversify and still express that view in just a single name, that's where i'd look next. >> today's reversal comes as companies get ready to report second quarter earnings. with reclosings mounting, is there actually more pain ahead julian emmanuel is with us great to have you with us. >> great to be with you. >> second quarter, even the conference calls, do you think we'll get answers? pepsi reported earnings and the stock was up there was no guidance on the rest of the year >> it's kind of naive for investors, i know this has been

a narrative of the last week or so, to expect firm guidance. i mean, if you look at today, the california roll back, escalations of tensions with china whether you're domestic oriented company and a lot of technology companies have china closure. it's just not going to happen. the uncertain at this level as reflected by this is telling us that there is a range of outcomes that are much more normal and clarity is something that's not likely to happen until we get more medical news or until we see how schools in particular reopen across the country. >> i mentioned that consensus is that the second quarter will be the worst. are you in that consensus? or do you think that there is still the possibility that we have not seen the worst when it comes to the decline in earnings >> no, we're in consensus, but the difference is -- and i think

this goes to the heart of the discussion in terms of sectors and so on is that you look at something like the technology stocks what they seem to be pricing in is a v-shaped recovery as opposed to the cyclicals and financials in particular which are really pricing in a continuation of both an economic recession and an earnings recession which we think the reality is somewhere in between. >> hey, julian, it's guy obviously thanks for being here. kro correct me if i'm wrong, maybe you saw it, maybe you didn't goldman sachs upgraded the earnings from 110 i believe to 115. but they said i think 2022 they expect $170 of earnings. is that -- where do you come down basically does 2021 matter i think it does. where do you see 2022 potential earnings look, so the question is is

2022 the year -- and we would take exception to the 2021 number we're at 152 and if you recall 2019 was peak at 153 the question is when do you return to peak we expect that's likely in 2022. 2020 doesn't matter but the real question is is, you know, again, what is the range of outcomes when thinking about 2021 and from our point of view, you know, again, the longer the economy starts to sort of stutter and bear more shutdowns, the more that 2021 becomes an issue. we don't necessarily need, you know, less than two-sided risk either up or down here, but you could get that way depending on how reopening goes into the fall. >> what's the risk/reward to investing in the nasdaq right now, julian, given that we're only a couple percent off from

record highs >> well, look, in the long term and, again, you know, this is thinking out 12 months, we see new highs in the s&p 500 likely accompanied by the nasdaq, but in the near term and the medium term there's a lot of risk in the nasdaq because, again, simply whether you measure it in terms of valuation difference or the concentration. we've all been talking about the faang stocks their representation to the s&p 500. there's probably 10% down side in the near term. >> 10% down side to the near term julian, thank you. always great to speak with you jeff mills can you see that, 10% down side in the near term >> sure. i mean, it's obviously hard to predict exactly what's going to happen the whole sector's obviously been a juggernaut, but at the same time to my point earlier, you have such a concentration there where if you do get a

hiccup and you have risk aversion associated with tech, you have further to fall i think that's really the key. i'm not particularly a fan of value at the very moment, but if you look at the spread between value and growth on a pe perspective, it's just ridiculous, 98, 99% reading. the gap there, if all of a sudden investors aren't willing to speculate in tech, you could see a fall >> bank earnings in focus this week kicking things off tomorrow morgan stanley, goldman sachs later on dividend announcements, credit risk, impact of historically low interest rates wall street will be looking for in these results. you've been particularically vocal about not liking the banks but you like wells. >> trade, long lost provisions is number one on everyone's list

but what i want to hear, then i can start to do the math, tell me -- assuming it's correct, tell me what your tangible book is if you're a bank and i'll tell you where i think the stock should go. we tried to explain the tangible bo book give $115 stock. if you looked at where jpmorgan recently topped out at, what i'm looking for is loan loss provision 1 and tell me what your tangible book is two. >> for a trade, bonawyn, do you like any of the financials >> i do. in addition to the points guy laid out, i'm looking at trading and fee generation

those are really going to be core tenants of those particular banks that we're not seeing in the regional space the large bds. xlf vsv, kvw. >> carter tweeted this morning, i know you all caught this, today we looked for a bounce in a concomitant period we recommend xlf to express this view speaking of values, jeff mills, value sector due your. do you like this one though? >> so i read carter's research i think for a trade i don't necessarily disagree look, this is all about expectations for financials you're talking about lagging the broad market by 30 to 40% you're talking about a 9 point

pe ratio you're probing the lows so i could certainly see a pop heading in earnings or because they're so poor. it's going to be such a head wind as much as long term rights versus short term rates. you almost find it higher, which it has, rates will follow along. what's developed is a huge gap between the rapgs yes and the ten year ratio rates are anchored and that will be tough for banks. >> not many people can get concomitant into a tweet so i applaud him for not only his research but his vocabulary. frank holland has the story. >> shares of mohawk industries down more than 6% as the flooring and lumber company issues release about a federal complaint alleging the company

fabricated revenues over sales both the company and ceo jeff leberbaum are named. again, the company and ceo named in a federal complaints. shares down 1.6% after the hour. coming up, banks aren't the only names reporting tomorrow. why one thinks the pain is only getting started just for delta there were a few green arrows. is the news for coronavirus as good as the market things? back in two. hike!

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in the kentucky derby. rory mcllroy is a two time champion at east lake. touchdown! only mahomes. the big events are back and xfinity is your home for the return of live sports. we've got breaking news on soft bank. frank holland has the news. >> breaking news on soft bank.

they are talking about a full or partial sale according to dow jones the company is willing to do any one of those things for a company they bought for $32 billion just four years ago. this deal is being reviewed by softbank they may not do anything with arm holdings, again, a company it bought for $32 billion four years ago. a few weeks ago it sold its majority place in t-mobile shares of softbank up 40% on the year back over to you. >> frank holland of course this comes the day adi announces the deal with maxim, guy, so news on the chip front good time to sell a chip unit?

>> you know, it's interesting. this is how my mind works. i'm sure a lot of people are saying it doesn't work, but it does i'll tell you how. if softbank is getting rid of asseting, they sold t-mobile, what does that tell you? what do they see that the rest of us seemingly don't see? i take it not as particularly bullish that they're looking for opportunities to sell things that's how i look at the news from frank. >> we got a slew of positive coronavirus news let's get to meg tirrell for the latest meg? we actually lost meg basically pfizer and biontech, two candidates out of four candidates getting fda fast track designation, bonawyn we saw the stocks jump biontech and pfizer jumping. meg points out earlier that the

fda would grant fast track approval to any drug or many drugs that treat things with pressing needs like coronavirus. i'm wondering what you make of this news here. >> i think it's further evidence that we continue to trade on news and trends as opposed to fundamentals right now, as you said, there's a pressing need. we have a pandemic outbreak and we're going to allocate or the fda is going to allocate resources to putting an end to that with that said, in terms of what that means for sales going on a go forward basis, if you're looking for companies going forward now, we scrap 2020 going forward to 2021, 2022. i don't have a crystal ball and i can't tell you what that means in terms of sales and allocat n allocation my take away is once again it is a testament to us trading news as opposed to real concrete evidence at the moment. >> at the same time somebody

might think, pfizer, it's got part of this covid treatment going for it it's big cap pharma stock which is a pretty blue chip. >> no doubt about it as it relates to moves associated with the headlines, i don't think you can buy the names without a headline how profitable is that vaccine going to be? there are other companies working on this. who ends up winning? overall as a sector i like biotech. it looks to be breaking out after treading water for four or five years you can play it on a sector basis. if you are trying to pick names because of a vaccine trial, that's so hard moderna got an upgrade and they said, look, we're rolling the dice on the vaccine. we think they will produce it and it will be profitable. if that doesn't happen, i

question the valuation it's very difficult to pick names based on the vaccine for other fundamental reasons, sure. a company like pfizer, it's so big but does it move the needle? i would place it on the ibb and get broad sector exposure. >> guy >> are you a horse racing fan, melissa? >> you know me you know i'm not. >> yeah. in 1990. 30 years ago, a horse named strike the gold won the kentucky derby. you're saying where is he going? that horse came from dead last to win the kentucky derby. the strike the gold of the coronavirus has not presented itself yet there are a lot of front-runners out there. none of them are going to cross the finish line. the company that figures it out. you can buy hopium but that's all you're doing pfizer, although i like it, it's in a very significant down trend from november of 2018, the

current levels completely being outperformed by a name like eli lilly. >> by the way, moderna is joining the nasdaq 100 which is a reason behind that big pop. shares of disney didn't seem to get a bounce as it opened its doors in orlando we'll talk to one visitor to find out what it was like to be there on the ground. we're taking your trading questions. leor o time to take part in sasfcer double down? tweet us what you want to know on cnbc @"fast money."

welcome back to "fast money. shares of disney tumbling into the close even as the house of mouse reopened in orlando. thousands of people visited the park this week end even as they

announced 15,000 virus totals this sunday. meanwhile, disney closing the hong kong park back down amid a spike in cases there jeff mills, i know you've liked disney in the past but in terms of where it is here in the reopening, especially as it is in a state with spiking coronavirus cases. we've got new jersey, new york quarantining florida visitors. what's the situation there >> yeah, look. i think it's a stock you can buy for the long term, put in the drawer, not look at it and you'll probably do fine. we talked about this a couple of weeks ago. the trade in early may is different than now then you had the very beginnings of the reopening you had momentum in a lot of those names. obviously the situation is very, very different now who's to say that we're going to be able to keep these parks open here when they're having difficulties in other parts of the world and the virus data looks the way it does here i think the chart has been interesting for disney because it was turned away right around

127 so that level is down to around 125 now depending on the headlines, i can see the stock move to 125. looking out past all of this wells fargo put out a note a couple of weeks ago. they said based on 2022 normalized earnings at $118 you're still trading at 23 times. the stock is not cheap i prefer it at 110 or a little lower. >> guy, how about disney+? didn't you see "hamilton" like five times in a row when it got released on dismy plus >> no. >> unfortunately. >> you get what i'm saying though netflix, record high >> okay. okay so you know what game, we play many games and it infuriates our audience would you rather the stock was around 420 or 24 r

thereabouts. we played would you rather netflix or disney. i remember saying netflix. it didn't look like the right call netflix has been extraordinary it traded up to 575. the reversal on two times normal buying scares me let's just be clear, it's the fact that they're now trying to play and swim in the same pool as netflix even if you give them a partial valuati valuation, the stock should be higher disney is challenged in most of their business areas and one has to wonder at, you know, close to 35 times next year's earnings does disney make sense i sort of agree with jeff. i think it trades lower from here into earnings on august 4th, i believe. >> we were showing you video of what looked like a very, very empty disney world that was the reopening on sunday let's bring in brooke mcdonald at make it well media.

she's currently at disney world. brooke, you've been to disney many times you've written many, many articles about the magic kingdom. what was your take that day? >> so i was there on the opening day on the annual pass holder preview day as well. opening day, there were a lot more people there. it still felt very empty, a lot of open spaces but there was energy there were people there. they were excited to be there. all of the videos that i posted, it was not difficult to get those. that was -- i wasn't waiting for a quiet moment you could find people in the right places people were in the cues of rights there were people there, not totally deserted but least crowded i've ever seen the magic

kingdom? >> did you feel safe going there? that's a subjective question but i'm wondering, somebody with a family, they might not consider going because they might not feel safe. they may not feel it's as clean as it can be, socially distanced as it can be what was your sense of that? >> so i will say that i think all of the health and safety protocols that disney has in place are excellent. they are working in terms of they are -- they're being followed they're doing regular cleanings. there's lot of social distancing markers. i saw almost 100% mask compliance and pass members stepping in and telling people to pull their mask up over their nose if that was an issue. we've seen a lot on social media and there have been a lot of photos of certain situations that i did see in the park where there were closer crowds that would have been a situation where i maybe would not have felt safe, but there is so much

open space in the park that i think that anyone who was being very aware of what might be a higher risk situation could easily remove themselves from that so in terms of, you know, the protocols that disney has put in place, i think they're there and i think they worked. the guests also play a role in this so i think disney is going to have to watch and see how and where they're going to need to step in and address those issues where there is a little -- you know, where there is more of a crowd gathering because it starts raining or for whatever reason. >> brooke, thank you so much for sharing your experience with us. we appreciate it brooke mcdonald, a visitor at disney world and writer as well. the thing about disney, you have to get there somehow, bonawyn. you have to fly to it, drive to it, whatnot. there's friction also to going there. what's your take on whether or not even if the reopening goes as planned, if disney is a buy

because of the reopening we're seeing at disney >> well, i mentioned this -- i mentioned a lot of these points that you alluded to on friday. listen, i'm going to decompose some of the arguments and look at them from a different point of view. i understand the disney+ argument and the other arguments. those are reasons why we're going o justify them having a more robust multiple disney makes 1/3 of their revenues from the parks. unless we can get to the parks, i don't see the stock rallying aggressively. coming up, casino stocks hitting the jackpot today. plus, delta faces some turbulence ahead of earnings results tomorrow we'll tell you why they're betting on more rougskh ies ahead. much more "fast money" ahead after this

welcome back to "fast money. check out shares of mgm trading higher as the casino operator reopens the massachusetts operation. contessa brewer has all of the details. >> reporter: wynn, pen, mgm have reopened a among some of the strictest and most detailed restrictions plexiglass shields must be six feet high and capacity is capped at 25% it remains to be seen if that's enough to turn a profit, but mgn and wynn also got good news affecting their macao properties they will lift the 14 day mandatory quarantine it means chinese gamblers can visit for a day or a weekend without losing two weeks upon return and this may signal the

easing of other tourist and border restrictions. that's good news for mgm which gets about 1/4 of its revenue from there it's a bigger boost for sands, wynn, hong kong based melko resorts. whether it's macao, lafgs, or springfield, massachusetts, coronavirus is still the crucial factor in these casino's recovery melissa? >> contessa. thanks contessa brewer in springfield, mass. for us tonight guy, adami, how's that wynndicator? >> i wish it was my creation but it was our amazing crack staff in englewood cliffs that came up with it. geniuses that they are if you are bullish on the broad market you hope the wynndicator is going to work again you had a huge move on the back of the news melissa just talked about. we had talked about trading wynn

on $70 that was a 50% retracement of the trough low in march and the recent high. that intuitively made sense and now it's working now you say maybe too far too fast mgm sets up similarly as $15 is sort of the 50% retracement of the exact same time frame. although i think wynn has moved a little excessive on this news, i think mgm gives you the best beta to the up side if you are looking to foray into the casinos. >> brian kelly has shot down but he's on the phone. what do you like on this casino trade? >> i was on the heater at the craps table so i had to take a second there no, you know what, i agree listen, you want to be in china if it comes to this. we've seen what's happened in vegas. they reopened. there was a huge surge of people coming in and now several casinos aren't even taking weekday reservations anymore for the hotel rooms because there isn't demand

we're seeing 25% occupancy in springfield, massachusetts i suspect it will be 25% for quite a period of time what do you do where are things reopening china. i think i agree, guy adami if i had a switch, i'd go from wynn into mgm. coming up, airlines taking a hit in today's volatile session. traders are betting on more turbulent skies ahead. the day trading boom may not be happening for the reasons you think. we have new data on why so many investors are divingntthe io market today those details when "fast money" returns. a unique tri-layer supplement that calms you, helps you fall asleep faster and stay asleep longer great sleep comes naturally with sleep3. only from nature's bounty.

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today's big market reversal. over in the option's market traders are betting turbulence could get worse. bonawyn, break it down what did you see today >> absolutely. take a look at the option volume calls outweighed puts by 2 to 1 after being evenly distributed that's more in line with what we've seen taking a look at the weekly at the money's travel options have a 7% move in either direction between now and friday i'd like to juxtapose that from the move of the stocks earning in the last four quarters. traders are expecting a volatile move the trade that stood out was the july 17th weekly, 26th, 27 strangle that traded $2.35. this was opportunistically offering this and he collected premium on the bid ask collected $2.35 there.

that is going to put your break even on the up side about 7% higher and on the down side about 14% lower. so, again, betting that the stock is going to be a bit range bound, taking advantage of the intensified volatility that we're seeing in options prices >> jack, do you like airlines at all? >> well, i just don't want beta to the reopening trade i keep talking about the correlation. you're going to get a high correlation. you're seeing better tsa data. you're up 6 or 700% in terms of daily traders at the bottom. you're still 70% where we were for me, that's problematic we will continue to recover but the question is where does the demand mad r plateau i fear it plateaus at a level that's difficult for the airlines we're thinking of larger carriers what is the exposure to business travel look like what's the exposure to international travel and valuation. they all have 50% revenue

exposure that concerns me delta does look better in terms of exposure to international travel, 10% to united. it looks better than a stock like united. i think delta is better positioned but i don't necessarily love the position. >> more "options action. tune in friday at 5:30 p.m. eastern time. coming up, you have questions and our traders have answers. one viewer is asking about salesforce we'll tell you how to play the stock. speaking about salesforce, he has a big lineup the ceos of honeywell and elevest. much more "fast money" straight ahead. ♪ ♪

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welcome back to "fast money. the retail trading boom continues and we have surprising data on how and why folks at home are diving into the market. kate rooney has the details. kate >> hey, melissa. new research suggests that it was more about bargains than people having extra time on their hands. sofi with a sentiment out with

trading in june. gen zs, baby boomers saw depressed stock prices as a buying opportunity that's why stock trading increased. next was extra money followed by the importance of investing. 34% was to replace activities that covid restrictions have limited. stimulus checks put more money in people's pockets. more than 80% polled received government stimulus. half used, quote, at least a portion to buy into the stock market researchers say they saw respondents who gamble or bet on sports getting into a market at a higher rate than peers there was an uptick on people buying. >> thank you, kate rainy it's time to answer your burning market questions "fast money" was such a hit, guy. lots of fun. so many questions.

we thought we'd take more. >> tremendous. >> first question from john in long island. >> hi, guys. this is john from long island. my question is on salesforce. i bought in the marleaus and it seems to have hit a resistance point at $200 a share. do you think i should sell right now as it may not accelerate from here or hold or potentially buy more love to get your thoughts. thank you. >> all right john from long island. jeff, what do you say to him about crm? >> well, look, if you bought at the lows you're probably working on a 35, 40% gain, something like that. i think at that point in time it's always smart to take a little bit off the table i would start there, john, but i'd also say the stock is holding a multi-year up trend. it looks like it wants to break out to a new absolute high it looks like it wants to break out to a new relative high

versus the s&p i think you can play the momentum but take a little off the table. >> bonawyn >> i tend to agree it's really not just about my view it's a way of going ahead and risk managing. 100% taking some chips off the table. i could would agree as well in terms of a long-term up trend. it is pressing down towards the 50 day moving average. as long as it holds the long-term averages, i would stay in with at least a portion of my investment, absolutely. >> our next question is an international one. coming from row bare tow all the way from south africa. >> hi, guys. i'm loving the show all the way from south africa. i wanted to ask a question relating to gold it has run to within $150 of its historical high so my question is is it time to start shorting gold and gold stocks i mean, even if it was to run to

2,000, there should be more down side than up, right? i just want to say thank you for having me on the show and thank you for your amazing analytics cheers >> roberto from south africa guy adami, who knew we had fans all the way in south africa. >> that is unbelievable. you know, back in another life one of our largest clients was the reserve bank of south africa, and the road i believe from pra toetoria and johannesb, that was the name. anecdotal. shorting gold is a very short-term trade although you had a huge reversal in newmont and pan american silver, i don't think that's the way to play it i'm still of the belief that gold is going to continue to move higher and silver as are the mining stocks. you can be selective if you want to short them.

roberto, i stay long the commodities, particularly gold and silver, for the next six to nine months for sure. >> jeff, what would you tell our south african friend >> yeah, i think that's probably true i'll comment on silver as well that's put in a massive base and it looks to be breaking out to the up side. i agree with guy look, in this environment you might be able to play it on the short side for a quick trade, but overall the momentum is too strong you have had flows that are aggressive into gold and the gold miner for that reason i think you can play it on the short side near term momentum is strong looking out any further than a month or so you want to stay on the long side of it. >>omg nt,e ve the final trade. when we started carvana, they told us

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back for the final trade let's go around the horn brian kelly. >> yeah, you know, i am going with our friend roberto from south africa and say you buy silver here and buy gold. >> bonawyn >> vxx take the opportunity to invest in volatility as an asset class. >> the general, jeff mills. >> so although i think john from long island should probably take some chips off the table after a massive gain, i do think you can play the momentum in salesforce. i would ride that crm. >> guy adami. >> first of all, this was a first line night the four of us have not been together on "fast money" in 14 years i want to point that out number one number two, i know jeff mills mother-in-law is an avid viewer.

i encourage her to send in a question by text or video if she's so inclined. i thought contessa did a wonderful job. i think mgm sets up decently to the up side. >> thanks for watching 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'll just tm just tryik you money. i want to teach you. call me at 800-743-cnbc or tweet me