supportive powell told you that today the mechanics of getting to that place and how much the stock market has already front loaded that >> the dollar was weaker, down almost a full% we are out of time thanks for watching. "fast money" starts now. >> i'm melissa lee and this is "fast money. our newest fast money trader james mcdonald special welcome to james hope you know what you are getting into stocks tumbling after hours on salesforce after they announce plans to buy slack and bio stocks going wild. trading more like bitcoin than biotech. and the story we all needed

in 2020. the mcrib is back. we will give you the juicy details. the nasdaq and dow gained. alphabet soared to a new record as we kick off the final months of this year do you keep with the big tech trade? >> what does that mean what he is getting himself into. james mcdonald, i want to say on the sides and behind the cameras, welcome i know we are thrilled to have you and cnbc is thrilled to have you. and i know melissa lee is tlo d thrilled to have you because i believe you both attended

harvard. maybe he didn't hear me. >> he said thank you a lot of stocks specifically google, has been carrying finerman for years but can these continue higher, yes. although i am skeptical on the broader market, google has been steadfast. they had an amazing quarter, huge run post earnings so we said that night that despite the 12 or 13% move, the stock was probably cheaper then than in the past 24 hours. it is only trading 28 times next year's number with a huge cash forward and probably 21 or 22% growth so to me, that's a name you want to stay with, melissa. >> karen, when you have talked about google or alphabet as they call it these days and the

rerating they deserve. what carries it higher >> i am still a believer here. a little bit of what carries it higher, there no alternative the last quarter was phenomenal. to be this big and keep growing and that was with travel not doing particularly well. i think we will be in a much better place for travel advertising. i am hanging on to google. i am not selling any of it i like it. it is my favorite of the mega complex, but i own pretty much all of them except netflix >> do you have thoughts about this trade you have to bleed in f-maga in order to believe in the markets or vice versa. >> i don't think so at all what we saw over the last

several weeks and months was there was this rotation, whatever you want to use, into some of the small caps, and a lot of these stocks trade sideways to down that was rotation, wasn't a reflection of the fundamentals now the fundamentals haven't changed that much. we will have some kind of stimulus even if the economy gets worse i have the fed and stimulus, and let me throw out the last part of it. there is a very weak dollar. to me it seems these things are you ripe for a re-rotation >> james, you have been calling for a big pull back in the market so that re-rotation would

fly in the face. >> thank you for the warm welcome and thrilled to offer an opposing view. these companies have gone so high for so long if someone hires me i have to buy low and sell high. i like to protect myself against an imminent pullback at these levels these markets can't continue to go higher, so we want to be defensive even in big tech >> it is implied you are long in the market people aren't hiring you today to be in cash. >> emphasizing where to put capital, we want to initiate positions because it gives exposure to benefiting to all of the risk in the market and cheekier so we want to initiate and protect against potentials facing the economy

the vaccine, there are so many issues getting to the mark ball cue, ball cue >> it's interesting. i know this caught your fancy. we saw industrials go negleativ and yet yield 10.2 for most of the day. >> that's interesting. if anything would concern me about the mark or what could turn things around or turn things negative in the market, it's the inflation that's really what is being, in my view, priced in here. weaker dollar, we know that has commodities, and prices will go higher if you look at inflation bonds so these are bonds like the tips peeps can look at t.i. pichlt p.

they hit all time highs. why is that bad for stocks >> in the beginning, the bad stuff happens in the beginning, but eventually that erodes your earnings and you have to readjust price to earnings ratio, and if you have that like a lot of these tech stocks, that is a problem that's not today, but something that b.k. is watching. >> in the beginning janet yellen and jerome powell will pretty much be on the same page when the rubber hits the road where they could start disagreeing is when things pick up you are worried about that because the markets are looking

to the other side. part of that is inflation returning. >> i am set up for inflation returning. i agree with b.k., a little inflation is good, a little help with the banks, position, for example, but beyond that -- i don't know if a stimulus package that is big enough can get through before december or after? it depends on where the senate goes i think that 1.6 or 8 trillion, i don't think we will see close to that. >> today's rally may be the

start of something bigger. it is said when the market is up and heading into the end of the year, we see gains 100% of the time really tom, 100% of the time? >> that's history so it doesn't have to repeat, but it does confirm that strong markets end strong we have had a great year-to-date we are up double-digits i think in shocking contrast to depression we have gone through. but that also means that december shouldn't be weak it should finish strong. >> do histories tell us how it finishes strong? >> markets were turning, but the epicenter trade which i guess people call cyclicals gained about 20%.

as much as i think big cap have a catch-up in december, i think it would be in epicenter >> december is a short time frame. i understand this is called "fast money," but january 1, are we pulling forward gains from 2021 >> i think 2021 bodes gains for some future period i think 2021 will be tricky because i think 2020 was a lot about market symmetry. everything you talked about are important. the economy is recovering. maybe inflation doesn't happen, but the risk does.

they will be real attractive stocks in 2021 >> it's karen. tom, thanks for being on the show kudos to you for having good calls many times throughout the year in the period of time, how many years qualify to set up for that december that you refer to with market up 10 to 15%? >> there are 75 years between 1945 and today, of which 13 fall in that 10 to 15% range. so 100% of the time you had gains. there were 23 instances where you were up more than 15% year-to-date and the markets were up 77% of the time.

we are talking about 100% s&p. >> i love karen's questions. tom, your forecast is for triple next year? you stand by that or do you want to ratchet that higher given the run we have seen >> what that triple is based on is the year after happening. bitcoin had a happening this year bitcoin is up almost 200%. it has had a great year but looks textbook it's really the year that follows the happening. so 2017 is the year following the happening. so i think 2020 is more like 2016 where the rally was starting so 2021 would be like 2017

2017 was an insane year for bitcoin and i think something similar could happen. >> 14u >> 100% of the time, the market is up. do you buy that? >> the only thing that is 100% if i applied to harvard, i would be rejected 100% of the time karen mentioned that tom has been remarkable and steadfast. but the things that concern me and i share some of the skepticism, there is inflation in all of the wrong places and the u.s. dollar getting torched

is inflationary whether or not jan he wi janet yellen wants to acknowledge it but resource and mining stocks, 155 into tlt, that is your line in the stand that comes in around 98 basis points or thereabouts. >> goldman sachs going full run on copper. james, you found something that thomas didn't find >> thomas is brilliant i have sat in on a few presentations in the past. we have heard the word unprecedented in 2020 an unprecedented number of times

from an unprecedented number of people we have seen records shattered almost every week on the data on stocks, earnings, valuations, gdp metrics, so on and so forth. i am short this market, short the s&p is and i will remain short until the inauguration racial >> coming up, stocks lower on sales force after them announcing their plan to buy slack. and moderna. tcn. it is trading more like whether that is a good thing or bad thing when fast money returns. ok, just keep coloring there...

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you need to hire. i need indeed. indeed you do. the moment you sponsor a job on indeed you get a short list of quality candidates from our resume database so you can start hiring right away. claim your seventy five dollar credit, when you post your first job at indeed.com/home. [what's this?] oh, are we kicking karly out? we live with at&t. it was a lapse in judgment. at&t, we called this house meeting because you advertise gig-speed internet, but we can't sign up for that here. yeah, but i'm just like warming up to those speeds. you've lived here two years. the personal attacks aren't helping, karly. don't you have like a hot pilates class to get to or something? [ muffled scream ] stop living with at&t.

xfinity can deliver gig to the most homes. numbers are down o salesforce after it was announced they would buy slack

>> i listened to an amped up ceo. it took him 17 minutes slack, calling it our ultimate vision it turns them into one of the biggest players in enterprise software it was called a match made in heaven salesforce investors aren't exactly pleased. just three months ago mark all but promised not to do deals in this environment he said, quote -- what did investors do? they settled in for margin improvement after the last two accusations. what they just got was the

largest acquisition ever and is in a battle with its larger rival microsoft. it could help out long-term, but slack quarterly earnings, they are a reminder why that company has been a relative underperformer among the work from home names. down 39% it is far from surges in revenue growth we have seen from other stay at home names like zoom during the pandemic. back to you. >> don't miss jim cramer's exclusive interview. that is at the top of the hour on "mad money. two other acquisitionings salesforce has been involved in. for a guy who said that big deals aren't in his wheel house,

it's interesting >> as dan nathan pointed out, debo knows -- i think they completely overpaid. i think that will come to frou igs and the market will understand that. and by the way, go back to august 26th when this stock was trading at 205 what i think you are seeing here is a complete 180, round turn of that 205 to 288 level. i think there is a chance the stock settles in between 205 and 210. i know jim is going to have marc on later and typically that's a positive catalyst. >> b.k., do you like crm >> i have liked them

i think the concern that investors will have is is this a signal that internal growth is slowing? we are seeing that sequential growth slow down investors will say i was invested in a company i thought could handle it and said i am not going to do more investments and then they do this. you could have disgruntled shareholders and you could have tech mergers. these are typically horrible investments. to guy's point, it is probably overvalued but, you have marc at the hell being, a -- helm and he is not a guy i would want to bet against. >> karen, do you buy this?

>> i understand the theory i think what b.k. is getting at is the rate of growth is slow. the rate of growth is extraordinary. i just bought some just before the show at 231.70 i think it's interesting benioff deserves the benefit of the doubt. the guy comes out $17 billion in debt they are paying 1% interest on eight-year paper if they can buy something less than 100 times earnings, that is more financial engineering much i think he deserves the benefit of the doubt i like it. i bought some. he has done extraordinary things i think he can do a lot with slack and will get the benefit

down the road. >> you bought crm on the back of this deal? >> yes, just tonight >> james >> i was an owner. i love companies that get bought i don't like this for salesforce slack puts them last in the mega communications slack does not have cash flow. oracle and zoom and microsoft, those are strong existing partnerships it will be a tough market to crack. $27 billion. survey teams say it is easier to use microsoft than companies that went to zoom. i don't like it for salesforce like it for slack though >> one biotech analyst says these are trading more like bitcoin and that biotech the one name he is calling out

for ridiculous moves and later, fexed at a new all time high. that and more when "fast money" returns. (harold) twelve hundred strings of lights. (betsy) quarter mile of tinsel. (harold) and real snow all the way from switzerland. (betsy) hmmhm... gonna be tough to top. well played. (vo) add some thrill to your wish list. at the season of audi sales event. get exceptional offers now.

we are just getting news from cdc about who should get the vaccine first. meg? >> this coming in in the last seconds or minutes it was voted 13-1 that the top group in prioritization for the vaccine should include health

care workers and residents of long-term care facilities. there are about 3 million in that group and in the health care group there are 21 million and they are the front line of the pandemic since there will be such limited it vaccines to begin with, that's why they had to talk about it there should be 20 million doses available in the month of december so that won't completely carry that health care group and long-term care facilities, so you will have to decide from that so that is the top of the list health care workers and people

living in long-term care facilities >> 20 million, that means 20 million times two. so 20 million can receive the two full-shot dose of the vaccine and after it is allocated on the federal level, then is it you have to state to allocate to hospitals and nursing homes and from there to the sub group? >> the way it is allocated, is the number of people over age 18 they will divide it up and send the shipments that way to the states they will come out a few million at a time. the first of pfizer will be 6.3 million doses. then they make the priority where those vaccines go. we will hear more about that as the state gets their plans in order and we hear about this

complicated way the vaccine makes its way out. then the states can do what they want to do they don't have to follow these recommendations, but it is to give guidance. >> meg, thankyou meg with that breaking news out of the cdc let's bring in our health care strategist any surprises to how the cdc is saying to allocate it? i would think the devil is in the details behind this. >> not surprised at all. we have been speaking for months about who would be first in line, so to speak to get these vaccines essential workers, elderly population meg mentioned the nursing home facilities getting the first shots sent by pfizer or moderna. i think that is in line with what we felt coming into this.

nothing ultimately that surprising >> i want to get into the trade behind one vaccine maker in particular the stock move yesterday was interesting. and talking about moderna that traded to a new high at 170, well above that and dipped lower midday do you know of any news that is behind this whatsoever >> the company seems to be releasing press releases on a daily basis so it's difficult to ascertain what matters and doesn't. just looking at the trading value over the past few weeks over prior months, we have seen it -- that seem to be buying either the stock outright,

moderna shares outright orthes stocks we haven't seen trades of these characteristics in such a long time makes me think of crypto currency and tesla i have been using that as a comparison as well just in that there being no framework, but the stocks being bid up every day probably some of the piers got too overheated too tough to call the ceiling. the ceiling doesn't seem to be that relevant day-to-day, but these things are all trading premarket fairly aggressively and have been for the past few weeks. that tells me there is some trading activity that is a little bit abnormal. >> the proof of the vaccine is

basically proof of the concept when we spoke on swap box the other day on this release of the second round, verification of that 94% number, he mentioned a vaccine for pregnant women to prevent birth defects and a better vaccine for flu isn't that a good thing? does that give moderna a higher valuation because we know there is proof of concept now? >> certainly the way the stock has performed on the back of the covid-19 data is a clue that investors are willing to assign some sort of value. so therapeutic areas you mentioned are interesting. we can sort of debate how big those market opportunities are certainly the flu vaccine market is something and we discussed this last week where we are seeing pricing at

$1.50 per injection. so prices well south of the covid-19 vaccine so the short answer would be, yes, it validates the platform the flipside would be how big are these markets. at one point today the stock -- this was the second largest u.s. biotech company by market cap. >> wow >> in some ways investors are already decided the value for the company is larger than just the covid-19 vaccine >> we are going to leave it there. always great to speak with you thank you. >> thank you >> and this e-mail came out that a total of 124 million shares of moderna changed hands today for a total val traded in a single session at $19 billion and that

handily beats any stock traded within the past 15 years or so >> trading as a group, that's interesting because we have seen that time and again. >> it is clearly in my head because i was going to mention that the stock traded ten times normal volume. it traded up to 178. kudos to karen because i think it was a couple weeks ago that the difference between pfizer and moderna that they were looking to do a capitalistic lens it was a $50 stock and tripled at the deep end of the pool. you talk about amgen has maybe $120 million cap the ibb is about to break out

before 148 that's your bogey. and the one interesting to me is biogen look what that stock has done. 250 to 378, back to 250 on the downside of their alzheimer's. i would rather be national park biogen rather than moderna >> coming up, is there dividend danger we will tell you what we spotted today. but coming up next, a fast hitter telling us why she thinks this is a safe place to put your money. we will give you the name when "fast money" returns really?! mom! at&t has the deal for new and existing customers! i will. so what'd she say? wrong person. it's a guy named carl. but he's very excited and on his way.

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joy the there is big business in protecting nadine, what is the stock you are pushing?

>> brink's when there is a rebound as they row open, you will see incremental cash flow to levels pre-covid. number two this is a growth story cash usage has been increasing 5 to 6% even through the pandemic and there is more opportunity to have more retailers and banks across the world they have also been rolling out new products and services. what do i mean by that is low ownership by hedge fund institution. it is not back to the prelevel price. and they have factored exposure. small mid cap. those type of securities do welcoming out of a rebound >> nadine, i have a question i am floored by that statistic about cash usage during a

pandemic because i thought cash usage would have gone down the trend overall is that people are moving to digital payment. does that concern you that on a secular level their business might dwinldle >> it is interesting it has been decreasing 5 to 6% a year a quarter of the u.s. is unbanked or underserved by banks. so a lot of people using cash. and during a pandemic, people can't get credit and that's coupled with internationally, cash is used at a higher level e-commerce is growing, but cash isn't going away >> guy has a question. >> i do have a question. hi, nadine thanks for pinch-hitting here.

this is somewhat of a rhetorical question, but the stock is nowhere near the levels in january despite the fact the broader markets have been unbelievable how surprising is that and is that the level you are looking for in terms of the stock which i think is around 90 bucks >> i think you can get back to those levels we think it is a 30 or 40% return but as we have seen post-election, people love crypto currency, bitcoin there is a lust for high beta business we would rather go in undervalue or overvalue >> hold on, nadine because we are going to vote. >> for me, i say brink it on

see what i did i would love to get it $60, but i like nadine's point and i like the breakout here and i think there is something to say about -- >> my question was the same as you, melissa cash was very surprising to me i think the headwind and i think people will continue to think that is a headwind great pitch but i am going to pass >> james >> sorry, nadine i love your technical analysis i have to go fundamentals, negative profitability, five times competitor's average, slow eps growth for 2020. set to take a 17% loss this year, 25% next year. i am afraid i am going to say

no >> guy, what do you say? >> can you read that white board for me >> i can, but it's a conundrum oh, it's like a look >> that was my combination in high school if somebody wants to go back and pick it. i am with nadine i think edge eye came out in the middle of november, best long idea they have an accelerated stock repurchase plan. i think they are going to test the january levels and write down that combination. >> do you still have your locker you don't have your locker, guy. that was decades ago >> what was it, your shoe size and iq and what was the last one? >> thank you

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welcome back to "fast money. barclay's upgrades fedex they say the increase of e-commerce will create opportunities going forward. fedex reached an all time high today. are you on board, james? >> i am afraid not there is a van shortage. they are restricting the use of fedex for amazon prime deliveries i think the stock is loftier >> brian kelly >> i didn't like the way it traded today so i would wait for a pull back. and i like it for -- >> the warehouse side of things.

>> guy i know you are biased -- >> yes, i worked at ups. he wore the shorts people asked me to stay for another day and i declined i am torn. but i think fedex is still cheap and my sense is that karen fineman would echo those thoughts >> would you echo those thoughts >> i would indeed. they talk about sur palaces for the holiday season a lot of the e-commerce, but i think a lot of it will stick and on the flip side if we have a reopen trade, those business deliveries, those are higher margin because they are more concentrated and would help the mix. they are finally getting over the tnt integration and i think we will see fedex ground and

express integration as well. i don't think it's expensive it is a decent being significance for me. >> why options traders see exxon's dividends drying up. plus there is still time to cast your ballot in our twitter poll. results coming up. it's down to the wire,

the team's been working around the clock. we've had to rethink our whole approach. we're going to give togetherness. logistically, it's been a nightmare. i'm not sure it's going to work. it'll work. i didn't know you were listening.

welcome back to "fast money. shares of exxon going higher today as it plans to cuts dividends to its lowest level in years. mike >> we have discuss this had before it is possible to extract from the options market how much it is anticipating dividends will be in the future for the integrated oil companies they have looked like they are in some danger and exxon more than the other two exxon is implying about a 50% discount or haircut to the dividends beginning as soon as the one payable next march going out to 2021. so as we look at the next four

quarters of dividends, we get a sense that dividends will be cut and it could happen relatively soon and the big issue with exxon is their cash outflow receipt duesing expenditures is part of it, but that isn't august reducing dividends is the other part of it >> dividend awriristocrat. 20% when they started 2020 so the deabt load has increased. >> they got kicked out of the granddaddy of them all and they went from 31 to 42 we talked about that being a double bottom. the easy trade for exxon is probably over.

maybe cutting the dividend 15 to 20% would have been viewed as positive, given the run the stock had, may be viewed as negative now >> thank you mike in options action coming up, it has been eight long years, but the wait is finally over the sandwich we all know and love is making a comeback just in time to 2020. -- to save 2020. we will have more on that. (♪ )

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welcome back to "fast money. it was the story we all needed in 2020. after eight long years, the mcrib is back. solved ribs on a bun with pickles and onions if there were a drive through around here, and i had a car and drove, i would be there in line. i know that's a lot of ifs

>> you lie, lie. you try to extract the bones from the mcrib before you eat it and that's nearly impossible to do it is a messy sandwich i was never a mcrib fan much if you bite into one of those bones, i am worried about might teeth. >> they raise boneless pibs like this just like boneless chickens on the package it says your old friend is back that is true let's see if the public was buying nadine's pitch. over 70% of the voters said they were not buying this time to go around the horn >> i bought crm and welcome to james, welcome to "fast money. >> b.k.?

>> i think you buy apple big tech is back >> mr. mcdonnelly. ball cue >> guy >> amd melissa >> thanks for watching "mad mon" with jim cramer starts right now. my mission is simple -- to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to educate and teach you so call me at 1-800-743-cnbc. or tweet me @jimcramer. what do you do what the biggest winner from the stay-at-home economy finally disappoints.