tv Fast Money CNBC November 2, 2020 5:00pm-6:00pm EST
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coming in the best level we've seen in years. it's not a certain trajectory for the economy in the absence of stimulus and without knowing the results of the election. >> and cyclical tilt on that performance today, also keeping an eye on not just the election but whether this is a one day bounce for europe. the stocks 50 was up 250 we'll have to see in u.s. and europe whether the bounce back was short lived. we're out of time on "closing bell." "fast money" starts now. >> i'm melissa lee and this is "fast money. trader line-up tonight we trading the vote, three big market scenarios could play out based on tomorrow's result plus morgan stanley rolling the dice often biden, why he could hit the jackpot if he hit the white house. and dan's fast pitch, he says if you play this social media stock just right could be a home run
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we stock with the rally on the eve of the vote tomorrow every seconder finishing in the green. the rally after the market hand in the worst week since march. so what does today's market action tell us about tomorrow's big vote guy, what do you say >> hi, mel you like my election haircut. >> i see. >> really took it down. >> really tight, nice. >> high and tight. interesting. what's it tell you today, i think a lot of people squaring up ahead of the election the vix suggests there's still a lot of concern the six vix at one point traded up to 37.5 obviously elevated last week saw huge move from 24 to 40. it absolutely mirrors of the move of june 8 to june 11 when it went from 20 to 40 and sms went from 32.to 50 in a straight
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line so the moves are identical, i think if there's a concession speech tomorrow morning this mix of 38 probably has 28 handle there's no concession speech i think the 38 vix remains that's the way i'm looking at the world right now. >> let's be clear, concession speech by either candidate >> either. i think i said by either, no, no, by either, yes, let me clarinet clarify a concession speech takes this vix to the low 30 high 20. >> in terms of sector action in the markets we saw tilt towards value, cyclical, financials, and indictsal, outperform. smart and mid over large cap does it provide tea leaves as to what to expect tomorrow? >> if it did i can't read those tea leaves i'm surprised how the market did
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today. i thought some of the news out of europe about lockdowns would have a effect here the idea is there is no appetite for lockdowns in the united states, didn't mean people won't change their behavior even if it is not mandated. i was surprised the market was up as much as it was some stocks were ridiculous. some names not doing well. then you had the value names like uri was up 14 dollars for no reason. they had earnings halftime week. it was because of an infrastructure bill it was probably true on friday. but i don't really get it. i didn't change anything of my portfolio today because don't know what to make of it even if you told me exactly what would happen tomorrow night. >> dan, what's your theory >> yeah so these guys mentioned a little bit about the under performance of the maga complex today and it's interesting because it touches on a lot of
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themes as it relates to the election, obviously, one would be no matter what happens you're going to have regulatory head winds and you will also have potential if you had a biden win and senate flip of higher taxes, higher capital gains taxes, these are obviously big winners on the year, this might be a reason to take some profits. the other would be valuation i think if we were to see a more cyclic cyclical bend because of fiscal stimulus and infrastructure spending and you will want to the move to under performers that's what we saw today that's what a lost the positioning has been lot of the positioning has been, it could have a lot of volatility if we don't have decisive victory and we're in a political quagmire under that scenario no toings do well -- no
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stocks do well in my opinion. >> tim >> scenario analysis, i think, if you have a biden win and a g.o.p. senate, i think big tech will continue to rally i think the discussion about infrastructure and resource stocks i think they are bid either way, certainly that is the sense we've had from the price action. there's a number of different things that can happen but the bottom line is if you think we get a massive change in washington and you get a blue wave, i think the market in the short-term has a period of elation because of the things that have been dis discussed, fears of unrest, and more consimple torrey policy -- policy globally. what it will mean for higher taxes and trade up for one off bill may be massive, the
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multiple is unlike the other things in the short-run we handy cap the next 24 to 48 hours but down the road your scenario analysis has to be very different and you have to get back to fundamentals in the short-run i think big tech has ways to pull back more but ultimately that will be the place people run for cover i think we're only three or four percent away from a pretty significant base on triple q's. >> would you agree guy, if there's a blue wave, we're trading the outcome that a lot of wall street right now is betting on, the conventional wisdom right now is blue wave. let's go down that path, if there is a blue wave, short-term pop in the markets because of the certainty? because maybe biden could be perceived as harder and tougher in terms of pandemic measures but long term uncertainty regarding tighter regulations particularly on financials
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perhaps as well as higher taxes. >> only thing i'm routing for is for a representative showing by my football giants against the tampa bay buccaneers, that's where my rooting interest is i do a grow with tim in terms of the way this sets up, without question i do think, although people will obviously talk about higher it axes, it will be offset by the fact maybe we'll have stronger enforcement of measures that might make the virus -- might keep us safer longer now i'm sort of stumbling over my words because i'm trying not to be political. i do think it sets up okay for the market not all of the market. i think banks could come under pressure if there's a blue wave, obviously and these infrastructure waves which we talk about will continue to do well and to tim's point technology will do well. quickly i will say this, i thought earnings released by
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google was far and away the best of the best dan talks about and i can argue google is cheaper on evaluation basis now than ten percent to the down side. >> karen i guess you think that. >> for google, alphabet? >> yes, i think it's a better buy today even though post earnings it was before in that quarter was extraordinary. some of it was ad spending, i assume, so we won't see as much of that. but youtube, on every metric it was good and so, also, i think that we'll continue to see more clarity, which has always helped us every time google gives us more information about other bet ozzer about youtube, better about youtube or cloud it trades better. very happy owning it here. >> dan >> i think when we're talking about this f maga complex we got to go back to netflix, spotify's
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report, we got to go back to twitter and think of some of the things that happened over the last nine or ten months. there was a massive pull forward and we've seen that in a lot of demand, in a lot 6 these name of these names and all of a sudden valuation is becoming a thing, interest rates have kind of ticked up a little bit, we're kind of getting back to more classic market themes, election or not i think it's really important keep an eye on that. the last point is that about this election, we could, if we had a blue wave we might not get further stimulus until february or maybe even a bit longer you know, i know people are really excited about theis m number, that's backward looking, what i'm looking at is this huge chaz if you will, of american citizens literally having a very tough time so i think the outlook going forward for a lot of these names that we're relying on consumer spending when they had expanded
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unemployment benefits is not this i think the next few months will be a lot harder than what today's market action is telling us about anyoptimism about the economy. >> maybe that's why a pop after a blue wave could be very short lived. it's true if we don't get stimulus until next year could not only cause damage to the economy now but could cause lasting scars with more people out of the work longer who will need new skills when they come out of it, they might have jobs that don't exist the longer this goes on so we're looking at consequences wait forge the stimulus, even if the markets say it's coming, it may not be coming soon enough >> although, i do think the nature of the virus and the way that at least you should, and i know we stalled on stimulus over the last month and half but the reality is if the virus gets
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worse they're going to have to step forward, i don't care who is in power, otherwise we have major, major yore problems yes, small business in this country is on their knees in many p industry especially whose pit, entertainment, restaurants. i have my own views on this.hos restaurants. i have my own views on this. i lot has to be done the expectation the market will be in a better place even if you know everything on the other side, yes, we have to stumble with our words to not sound political. i'm just making a market observation in terms of outcome all-blue would be relief at first and then we'd have a lot of problems for the market we've been talking about valuation for months. if you are in that environment what's been defensive? it has been mega cap tech. back that google conversation, it's interesting though because google effectively finished flat today. yes it had a pop on friday after the best of the four but it's
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concerning how that group is trading, and that may tell you in the short-run where they think the market are be after the elections. >> we have market flash on twitter, julia with that story. >> melissa, we're getting some of the results of twitter's work with elliott management twitter announcing that it's going it be commencing its stock buy back, it will begin authorized share repurchase program. also give updates on succession planning this is basically this statement from twitter is the results of the management structure committee that was formed in response to that pressure from elliott management so the management structure committee reported to twitter's board that it concluded its work and gave these recommendations which twitter's board accepted, including amending twitter's board structure to no longer have a stagger board, also
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assessing the current management structure and working to update the creo's succession plan in line with best practices and' value ating company management performance and of course the share repurchase program so i think what's important here, melissa, is this shows elliott and twitter together have now are making changes based on those recommendations and everything starting to come into play here of course we are very curious to hear that ceo succession planning. >> thank you as we watch twitter shares climb in after hours session. no longer having stagger board means the entire board could be voted out more easily to effect change potentially at the company. that's also very interesting dee anna at this point, sort of answer the question about growth at twitter after that last
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earnings report. >> i don't think it does much to answer the question about user growth they were very disappointed but there was a huge pull forward. they had a massive addition to monotonized daily active users in q 2 so big disappointment in q 3 but ad revenues did come back and they spoke to how it ended september and how october was looking. so put this news on top of it an the stock down 25 percent in just three trading days and you say to yourself okay this might be a pretty good entry point especially when compared to peers like pinterest and snapchat, next year they will all have similar revenue growth. >> karen, what's your take on what elliott managed to extract from twitter. >> the buy back is good and removing that
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prevents someone from taking control. and remember jack dorsey lived half the time in africa so that didn't fly with elliott. now the succession plan is important, as young as jack is, he's very engaged still you need a succession plan. positive, i don't know if elliott gave up anything that they wouldn't put a slate on, any candidates, i'm not sure about that it's a small positive. not as important as the earnings were the other day. >> yeah. twitter shares up almost two percent. as we countdown to the election, the three big markets could play out, let's trade the vote with tom lee, great to have you with us, let's start off with base case scenario which is a blue wave >> that's right. and heading into election day we're making the assumption that investors are on a buyer strike. so it's been an emotional two weeks. retail investor cash has risen so we know people are waiting
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for some certainty base case blue wave reflected in the polls and betting markets, i think this results in 10 percent rally in equities so s&p 500 roughly 3600 because you're going to get a big lift in cyclica cyclicals,ed i think it is offset by tech, potentially trailing because of the risk of inkroesed regulation and higher taxes. >> that's the base case. the other scenario would basically be status quo, correct? >> yes so i think that the surprise case would be that trump is reelected and the senate remains republican the reason it's a surprise of course is because the polling markets isn't reflecting this and betting markets are showing trump as anunder dog the reason i think this is a positive surprise.
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i think the stock market will rally 15 to 17 percent, s&p 500, 3700 the reason less regulatory risk. less risk of lockdowns because of the current administration's approach and possibility of tax cut i think you will get a big cyclical rally and big tech running that's how you get to 3700 on the s&p. >> and third scenario is a form of a contested election. >> yes contested election, i heard you guys say it's uncertainty, i agree, it's uncertainty but it's actually less uncertainty. so incrementally it's certain because now we're through election night and the reason i think you still get a five to seven percent rally which is s&p 500, 3500, number one, i think washington goes back to focussing on who is controlling
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the senate, we're also likely to get stimulus pass before year-end and the fed is likely go to make an intervention or prepare to announce intervention if the markets are unstable so i think the markets will still get the lift 3500 just take us two weeks before election day. >> so all of the markets will be higher, is that right? that doesn't sound right to me it's win-win-win no matter what. >> yes and the reason i'm pointing that out is we've gone through an excruciating two weeks where the markets lost nearly ten percent because nobody rationally was buying equities because we've had a lot 6 selling and repositioning. so part of our presumption is we've had a huge imbalance with sellers two weeks, down eight percent, cash is reasonable on the sideline vix has gone to levels of very
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high levels of anxiety and drop in the vix plus moving cash up the sidelines is still going to get us a rally >> so i'm glad you mentioned this that's sort of my question i guess, in my opinion a concessions speech either way takes the vix from today's close 39 to the low 30's if not the high 20's. have we already price in with 39 vix a contested election is that your point, the entire negative scenario is priced in vis-a-vis the vix? >> i believe so, i mean, i'm going to make an assumption here but our active institutional equity investors have done a lot of hedging either in derivatives or futures so they have not bet on this two weeks being smooth they bet on a lot of turbulence, so that will be repositioning
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post-election. then on the retail investigators side i think that's why the cash balance has been creeping up last three or four weeks so investors are eventually on the sideline because they're better prepared for contested election. so a clear outcome would be a massive bullish signal. >> it om, great to speak with you, thanks. >> thanks. >> tom lee of fund strap cnbc will have full team coverage starting at 7:00 eastern and going throughout the night all the way through "squawk box" don't want to miss it tim, i know you were smirking when tom outlied the three winning scenarios because every scenario is a winning scenario for the s&p, apparently. >> well, never smirking at tom tom is certainly taking a glass half-full approach to three scenarios that i think the market has a lot of anxiety,
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yes, but the market has reason for a lot of anxiety and a lot of dysfunction and valuations that are not terribly cheap in an economy that yeah i know we had 32 percent gdp and there's a reason why this week we also have a payroll number, we have the fed, and we have other things the market can focus on which goes back to fundamentals i think the parts of the rally today, so our market conversation, a rebound in housing, i think, is important and housing related trades because i think that is something that continues into the second part. notice oil oil has priced in the fact that basically a blue wave and yet today it acted very different. i think there's good news in oil, especially on the expectation the surprise might be something not priced in oil. >> coming up, jackpot in trade, one big bang said roll the dice on one casino. and first
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action on paypal the call is under way. en'll break down the numbers wh "fast money" returns. change is all around us. shaped by technology and human ingenuity, we can make it work for you and your business. ♪ as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t...
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money", check out shares of paypal sinkings after latest earnings report. kate with the numbers now. >> expectations were pretty high heading into the third quarter for paypal despite a 6 percent drop in the stock after hours. paypal ceo just told me they seen a record third quarter. beating on the top and bottom line they also raised some of their full-year guidance, paypal saw its highest revenue growth ever, 25 percent year-over-year, that came in at a total $5.4 billion, better than expected non-gap eps also beat by 13 cents and total payments at highest ever $247 billion better than analysts were expecting of that total $44 billion came from venmo up 60 percent year-over-year we just got couple venmo highlights on the call which is still under way. venmo now with 65 million users
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jump from 60 million which in the summer paypal reported they expect revenue to approach $900 million next year and to make positive numbers to the transaction, paypal also raised its full year earnings guidance and falling guidance with double dichbgit e guidance lower than expected and analysts saying it could be part of the reason the stock is taking a hit here after hours. i asked the ceo about this an they had said they're spending $300 million on some of these digital products and some of that spending could add to the earnings miss in the fourth quarter. shulman also tells me he's cautiously optimistic heading into next year, mentioned the macro uncertainty, things like virus, vaccine, going into next year but digital separation and rising of e-commerce is helping
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paypal back to you guys. >> thanks for those numbers. fourth quarter guidance le below consensus estimates. guy how do you trade paypal. >> right now i know dan nathan has his chart up looking at 215 from early assessment high and october 21st number one. 175 is what we traded down to between september and october. it needs to hold there the quarter was remarkable if you look at transactions up 30 percent year-over-year. 7 percent quarter over yaquarte. manager margins were better. -- i will say cautiously optimistic should be removed from the lexicon of every ceo in the united states, it's one of the dumbest things anyone can say in my opinion. >> why is it so dumb we're in a pandemic for goodness sake. >> yeah, i'm cautiously
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optimistic how many times have you heard that and rolled your eyes? i know it's countless. >> you're saying it is an over used term but it actually has meaning in the context of where the economy is tim, i don't know. looks like tim agrees with me. >> i think guy has had too much coffee, come on dude, back down. it's not an oxymoronic term which is what your criticism sounds like. it's frustrating when ceos don't say yes we're concerned about the quarter or the environment is such that we're bombastic about it but they're not going to do that with paypal, the story is you this is one of the beneficiary of covid, e-commerce, frigsless payment and ppp loans. 85 times trailing. this is a stock that needs to pull back. doesn't matter what they reported for the fourth quarter, it was weaker about you this stock was one of the names ahead
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there. >> much more up next. on "fast money." >> red or blue whoever wins the election one thing is for sure there's regulation coming for big tech what's that mean for the venture capital space? we'll get some answers plus just how much volatility could contesd econteelti bring to the market, when "fast money" returns. flexshares may look simple on the outside. but inside every etf... there are untold hours of careful construction... infinite "what ifs?" and contingency plans. creating funds that help target gaps in client portfolios. tap untapped potential. and strengthen confidence in you. flexshares. powered by over a century of investment expertise before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully.
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big impact on venture capital. joining us now, a man with a lot of experience in the vc thanks for being with us. >> great to see you how are you. >> good thanks got to ask, does a change in administration impact the environment for the kinds of vestments you make >> i don't know if it changes the investments we make, the biggest risk is period of uncertainty in the markets, that part i don't know how it plays out, if we have a clear winner we're good, if we fight it over three months as to who the winner is, it will be tough for everybody out there. i hope we won't see anything like that. i have a good golf buddy, mike, that i call my sensei because he guides me clearly he said don't focus on the single shot but the game at large. that's what we have to think
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about, how does the big picture look not an individual day. >> i want to ask about the game at large, for right now, is being shaped by its pandemic i wonder if that impacts the kinds of investments you're making these days and how you sc exam investments in companies and how they're built for future years. >> when we look at a company our criteria is simple, we think about people, market, product. in that order. we get that figured out then we'll talk about the deal. people, market, product. really great people build great company. that's been the case and it will stay that way. we feel great about that what's taken a lot of getting used to is trying to do it the old way when the pandemic first hit we said we can't make investment without meeting the team lo-and-behold we've adapted and made great deals but it's changed things a lot in terms of
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our criteria same time, some industry have been hurt by the pandemic, we all know what those are, there's a lost on the consume a lot on the consumer front with powerful tail wind that's we announced last week, the acquisition by nestle, good example, really strong company growing in great leaps and bounds did the pandemic help? sure it brought more customers together. >> sure and the pandemic is helping a name like lulu who you invested in early, how do you view those tail winds, is it short lived or a real change, how many yoga pants before you go back to work to wear proper pants. >> great question. i'm not nearly as smart as the guys on your panel talking about public stocks and the way they play out in our portfolio we see fundamental change and behavior that i think will be
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long-lasting do the tail winds survive at the level they are at today? who knows. but i think we had see fundamental changes. there's a small company who makes beautiful greeting cards instead of flowers and can barely keep up with the business because no one is going into cvs or walmart, you're going online and shipping them. things like this helps small companies tens and millions, a fundamental change, who would have before everyoneed it two or three year -- believed that two or three years ago so i think we'll see a long-lasting behavior that will never step back, this will be complete changes to consumer behavior. >> bob thanks so much for your time hope you will come back soon. >> love to do it, any time >> karen, he's somewhat of a
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ledge nend vc world and associated with an early search engine, he's seen it all in terms of tail winds do you think some will be long lasting as bob had said? >> i think some will i think that work-from-home we're going to have more people working from home, i a greater percentage of the time than they did before, even if we have a complete vaccine that's 100% effective. i just think that change is too hard to undo i think selling something like freshly, that was a good sell, would be my bet that peak -- >> amongst the top >> maybe, good for them. >> dan, quick thoughts here? >> i just got to look at karen and tell you your new haircut is fire i'm going to take karen's haircut over guy's haircut. >> i got a lighting and set issue going on >> all right, maybe pull the
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blinds. >> and change the lighting, whatever. >> here's the one quick point, acceleration in anything e-commerce, obviously you're going to see deceleration ratio after the pandemic but that pull forward and demand i think is here to stay that's the take away i would have about the behavior that's changed in the last nine months. >> coming up, tonight's big number how many ad dollars were spent on this election who already came out the big winner first dan getting ready to throw a change-up. fast pitch with options twist, the that name when "fast money" returns. ♪
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welcome back to "fast money. unless you are living under a rock you've likely been bombbarded with political ads this election cycle. just how much money was spent and who are the big winners here julia? >> this is a record political ad spending, $8.3 billion has been spent. if you look just at spending traditional media, political ad spending up more than two and halftimes from 2016 cycle to
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$6.7 billion of those the biggest beneficiary is broadcast tv with $4.5 billion in spending up from $2 billion four years ago now the biggest winners of the rush of political ad spending are the companies that own the local tv stocks on the screen. now it is worth noting that despite those bounces from the spring, all five of those companies are down this year and all the stocks having their worse year since 2008, way down by risks, that after the election include cord-cutting as well as dollars continue to shift from tv spending to digital. while broadcast tv still dominates political ad spend something losing share from 75 percent four years ago to 60 percent market share this year
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as digital platforms continue to make gains big winners from political ads growth on digital are google and facebook and streamers such as disney's hulu and peacock owned by comfortable, cnbc's parent company. the election is not giving a boost to twitter it's not accepting political ads. >> thanks, julia karen what is your take since you own both alphabet and facebook. >> i'm trying to think about moderating how good the quarter was because the spend was so big. for disney probably a bump for them with their network. but i think it's going to be short-lived so if i were owned one of those sinclairs i would sell into this strength for sure. >> speaking of twitter, a name on dan nathan's radar he's stepping up to the mound with a fast pitch take it away. >> yeah so thursday afternoon when we dissected their q 3
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results the whole panel we were disappointed with the monthly or the daily active users were not great. they had bright spots on the ad business and cautiously optimistic commentary on q4. today at about 39 what did the stock do hit the up trend from the march low. that was good technical support. i think this stock got thrown out baby with the bath water i don't see why it has $30 billion enterprise val you'll and snap has $60 billion i think they will focus more on new products and services. at their analyst meeting this is how i play it. let's do o-a, i go to the options market you just had the bounce off that technical support.
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i look at january expiration today when stock was trading at 39 you could buy 40, 50 call spread paying $2.50 that's your max risk breaks even at 42.5 and gains of 72.5 dollars between 42.5 and 50 that's how you play gap for the back fill under $40 you lose that $2.50 but the way i think about it is you buy the stock here and risk to mid-30's if things crap out over next few weeks or something more stock-pacific about this story, but if you get this stock moving back above 40 then you got the stock in that range on the move back up to 50 for that gap fill. i like the risk-reward here, rirv risking 2.5 to make up $7.5 between now and mid-january, that's a long way to play out i
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like being optimistic about it. >> tim has a question for dan. >> dan, i appreciate the call and think it's impressive you're going to try to dial 9 twice on twitter with a fast pitch. you have done great, bud but i think the market got overly worked up over the dau's when that ad revenue up 15 percent year-over-year was incredibly strong and margins were strong, what should we be looking at with this company is my question. seems people can't pick what's the most important metric. >> so great question, tim. i think there's a lot of things going on over at facebook. we heard a lot about social commerce people are excited about that. so many things this company can do to innovate with $7 billion in cash. i think they're going to look to go outside their lane a little bit. i think those are the sort of things we're going to hear about as we work towards the analyst meeting. february there was a report by someone made by sub stack for
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longer form sort of stuff. new products, new services, more engagement. >> time to vote, are you buying dan's pitch on twitter we'll start with the one cross over member of "fast money", auctions action, guy ha do you say? >> great power pitch dialing 9 refers to dialing 9 for long distance. i learn not to quote tweet from dan nathan he told me about twitter etiquet etiquette. i didn't think it was going down 25 percent i still think the best days lie ahead. great power pitch. i like it, dan. >> tim seymour >> i'd much rather buy down 25 than up 25 in this case, he's dialled 9 again, folks, 9 again. >> karen >> yes i like the pitch too, dan. >> wow. >> i would be a buyer of the spread i like the risk-reward of that
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spread. >> quite a turn of events. considering on the mid-day call we were all joking how people would be writing no on their white boards even before hearing this pitch so really broke in your favor here the traders have spoken. it's your turn to vote on twitter. on our live poll @ cnbc "fast money" we'll reveal answer later in the show up next, who will see political tail wind if biden returns plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare you're covered for hospital stays and doctor office visits, but you have to meet a deductible for each and then, you're still responsible for 20 percent of the cost. next, let's look at a medicare supplement plan. as you can see they cover the same
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welcome back to "fast money. check out shares of wynn after morgan stanley upgraded to $95 a share potential biden victory analysts saying improved relationship between u.s. and china under democratic presidency could benefit wynn's business. tim, what do you say about this upgrade. >> it's not enough reason to buy the stock. i think the issues they're facing both here at home and in asia, look at the last numbers of revenues you see vip and
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premium mask are nowhere and expectations are not supposed to be high. i wouldn't say you run far away from the stock 72 to $75 is a good line in the sand but wouldn't be buying it depending on a change in the government not a good reason to own the stock. >> guy, quick. >> vegas spring loaded as they get away from vegas going that route, tim makes a good point. if you see incremental improvement i think lvs will be spring loaded. yes i use the term spring loaded. >> coming up the fear index is on the move. how should you prepare for election outcome much more "fast money" after this. ♪ ♪ ♪
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welcome back to "fast money", we are on the eve of election day and there's been plenty of commentary around how much volume at we could see after the vote one trader saying the worse might be over, mike. >> in the vix today we saw puts outtrade calls by almost two to one on above average volume and most active options were the december 20 puts on the december
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vix future crossing the tape for 23 cents buyers are betting the december vix futures could decline. for weeks we've been talking about the fact we've seen higher than average implied voluatilit beyond the election day, this could be the first sign net the election and up tick of covid that are seeing optimism, some bet perhaps the worse of the volatility may soon be behind us >> all right thanks for that tune in for his full show 5:30 on friday. and tomorrow, cnbc will be life throughout the night kicking off at 7:00 p.m. eastern time. we'll go right up through "squawk box" for every move the night. >> up next, still time to vote on our twitter poll, are you buying dan's fast pitch.
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we'll give you the results after this turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪ othey help us with achievable gsteps along the way... so we can spend a bit today, knowing we're prepared for tomorrow. wow dad, do you think you overdid it maybe? i don't think so...what do you think, peanut? nope. honey, do you think we overdid it? overdid what? see? we don't think so, son. technically, grandparents can't overdo it. it's impossible. well planned, well invested, well protected.
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fast pitch on twitter. it was a tight race but they're not retweeting, that means you loss 53 percent voted no, the rest voted yes, so, sorry davenport time for the sorry, dan time for around the horn >> in risky environment, google with least risky bet. google is my election play. >> dan >> yeah, i'm going to stick with twitter here they gave us enough to look forward to with the stock down in support down 25 percent in three days, i like it. >> if you don't know what to make of the u.s. markets look at other markets, yum china very good, stock up couple bucks is back down, liyum china. >> i wake up cautiously
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optimistic you take such joy when we lose these power pitches. >> i don't. >> no, you do. let's make it on sads roll the bones, mel back to you. >> thanks for tcwahle "fast money", my mission is simple is to help you make money. "mad money" starts now i am cramer, welcome to "mad money," welcome to cramer america. my job is to not only entertain you but to educate you here we go again with the value of growth. the do
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