you have an ugly end of month trade, sometimes the first of the money you get a flush of new money and that happened in january and into february as well >> morgan stanley's head of investment management will be here on monday at 3:00 that does it for us today on "closing bell. have a great weekend "fast money" starts now. >> i'm melissa lee and this is "fast money." we are watching shares of j and j. we'll bring you the decision as soon as we have it the chart master's with us he's dpeerg up for march madness. later, making it rain. draftkings hitting the jackpot today. find out if any of our traders

are betting on this one. we start off with a 11th hour. the market ending a percent and a and a half the nasdaq closing well off of its highs. take a look at a couple of names driving the action facebook was up more than 4% earlier today but sold out into the close, ending 1% higher. apple gave up nearly everything. so what's this kind of price action late on a friday as we close out the month? tell you steve, i go to you you always talk about rebalancing. how did that play into this? >> yeah. so you have month end, you have rebalancing, a bunch of stuff going on so really hard to make any sense of what the action was today other than positioning, because we had such a volatile month, melissa. when you look at rates, rates is what everyone's talking about. rates roll today in the 10-year rolled off. what happened then

all the tech names that everyone loves to talk about, those handful of six names or so that people like to speak about ubs they were bought they weren't bought all the way into the close, though, because people were familiar with these names. let me buy them in the middle of the day and see if we can get any sort of rally from them. the strong thing to remember when you have a trend, market doesn't change trend on fridays. we've had a trend of lower prices you weren't going to get that balance into the bell. you have two days to think about it people are saying i'd rather liqu liquidate. >> james what's your take? >> the rising yields has so far been seen as an indication of expected economic growth and despite the expectation, reaffirmed that the fed has no plans to tighten policy.

so yesterday's action was what pulled these assets down risk assets and tech growth for most of the decline because they're most impacted by rising yields it's likely to continue at least until the stimulus release as economic data tends to surprise on the up side >> how much is rebalancing and end of month factor into off setting the poor price action we had into the close if it were any of day of the month, you would say that's a bad sign for tech. the nasdaq at one point was up 1.8% and lost more than a percent here into the close. >> right yeah it was pretty shocking, mel. the last two days we lost a thousand points on the dow 3% on the s&p. 3% on the nasdaq the nasdaq, some of that selling -- you know, it was an interesting thing. the fact that the nasdaq actually starting to sprint to the up side at one point during

the day and it could not keep up that momentum. i think that's a possibility i think the idea that the people are getting a little bit unnefbd right now, they have some trepidation for sure, i think, because they're looking at where the ten-year is. we've all watched all the various areas of the marketplace that have been moving to the up side at a swifter rate than we are used to. because of that that's why we're seeing the volatility index as well volatility jumped back into the marketplace this week. we've been absent volatility for a while. when you look at the last three, four, five, the whole week's worth of trading days, it's been swelling up as we've gone each and every day. we popped over 30 a couple of different times because i think people are starting to feel that nervousness about where is the market really going. i'm not just talking tech, by the way. financials at the end of the day as well, they all got hit late

in the day it wasn't just tech being hit. it was industrials and it was financials, semiconductors as well >> seemed like fm financials in particular it was like we're not sure about the future here. bonawyn, are you fearful about higher valuation stocks? because this is ultimately what it's all about, particularly when you string together vr together this week along with the fact that big cap tech names and momentum names are down sharply from their recent highs. it's not just a one-week trend >> you make a good point and fearful is not the term i would use. listen i'm clearly aware that the stretch valuations can't continue and a rising rate environment doesn't necessarily bode well for that

they've pointed to the vics, the moves we've seen has not been just in the tech sector. we've seen the out sides move in all of these sectors and subsectors financials like you pointed out, so i -- >> bonawyn, we've got breaking news on johnson & johnson's covid vaccine. meg. >> melissa, a unanimously positive vote for johnson johnson's covid-19 vaccine from the panel of outside advisors to the fda. 22 experts voted yes on the adjourn and johnson vaccine. none voted no. none abstained this would pave the way for the third potential covid-19 vaccine to enter if u.s. market. this requires one dose from here, the fda will take the recommendations from this committee, make its own zis. we could see that decision potentially in emergency use authorization as soon as tomorrow a cdc group of advisors meets

sunday and monday to make recommendations and we could see three to for million doses of this vaccine going out on top of the moderna vaccines next week >> next week wow. great news meg, thank you nor that. we're seeing johnson & johnson shares rise on this news bonawyn, you can finish your thoughts, but also comment on this idea, the kmoe, we're going to get lots of vaccines into people's arms and that's a great thing for the u.s. economy >> yes i'm happy to change course here. all i was going to say is when you see outsized move and growth outpacing value, people are just looking to kind of buy the names that have been over sold and over bought on a regular active basis. as for the johnson & johnson, i think it's going to relieve some pressure in terms of

distribution and things of that nate >> johnson & johnson shares are up by 1.6% i was talking to a portfolio manager earlier today, he mentioned health care being a top sector into this year on the notion that vaccines are going to be part of our daily lives. is that a premise in which you would invest, that they've got these vaccines, there are variants, you may need boosters, etc., is that enough to say yes, that's the sector i want to believe in >> when you're looking at bristol meyer or pfizer or merck or any of these names, j and j you look at the composite of what they do and what they have in the pipeline. obviously, the fast track that we've we've seen in this process has been amazing, how fast they've been able to get to this point is extraordinary still to me, it's shocking that we've been able to get here as fast as we have. hopefully it will don't safe

i think that's not your only reason it's just one more catalyst. i own it i own it for a lot of reasons, not just this one. but i think this is one more in the list of reasons this can go higher it's a solid company when you look at consumer products and that sort of -- the possibility that you've also got medical devices as well as the pharmaceutical, all of that put together and this on top of what they've got already in the pipeline, there's a lot of reasons to like j & j right now and i think it will be higher over the next six months to a year >> six months ago we were on the precipice of the pandemic and six months later we have shots in arms. how do we take this news is it good news for the market >> this is great news for the market and this is great nice

for that value trade you're going to see the restart of the economy you're going to see -- see, we've all talked about this silloff and what we've seen in tech the normal is to sell tech and they sell everything but the problem is, they're going to sell everything, they're going to sell value, they're going to sell the restarts, they're going to sell everything all at once the restarts, the value plays, the pharmaceutical plays, excellent news for the market. >> all right as we gear for a new trading month, the chart master is laying out the best looking charts of the entire market. carter is with us. carter, take it away >> what a feat are there three? there are probably 30, but let's give it a go before we look at the charts, they have nothing to do with the three businesses, nothing to do with each other. the charts are identical they all have the common circumstance that they were winners that have basically gone nowhere for six months and the

premise here is that they are catchup trades the first one, netflix a great winner it's the same price it's been since september 1. chances of aout right here mastercard, same chart totally different business a great winner exact same price was september 1. third docusign and last. a great winner that's rested so the commonality, nothing to do with one another, but the setup and everyone knows what this, a chart formulation, there are others in the market but these three are as good as any >> thank you so much james mcdonald, which rested champion do you like gentleman that's a great question i think there's been so much anticipation of the reopening and there's been so much excitement about the prospects

of our health collectively being safe with these vaccines and that progress and the anticipation had stocks running up like crazy and i think pressure that we saw at the end of johnson and the pressure we're seeing now isn't quite over, so i think we need to come down a little bit more, frankly, a lot more, not in all names but in tech. i think we've still got seven, eight, nine, ten percent market's always forward looking. wrote think we've seen the reckoning of the over valuations that we had. i think this is it >> did you tell me which champion you like or is that your plight way of saying you like none of them? >> i like roku it's known for its dominant streaming platform i've got a buy here, i like roku and great earnings, great revenue user and they've added

users like crazy five million more users. if i've got to go long i've got to go long roku. >> so james is pulling a champion out of his own basket carter, which do you like or maybe you don't like i'll give you that option. how's that >> i'll go with disney -- no, i'm kidding. i'm going to take netflix and the reason i'm going to take netflix is i think it deserved and needed that pause. we talk about this all the time. i think it's healthy with stocks when they do hit that pause, sort of a state they've been in. i think netflix has plenty of growth it continues to be something it's not just a story here it's a story globally. because of that they still have lots of room to grow i think netflix is one of the names i see. docusign, i'm nervous about that one. if the j & j news produced what

we think it might, i think those types of names still have plenty of down side in front of them. >> for the record, you're agreeing with the last comment coming up, traders are honing in on the 14 names that should be on your radar. plus, draftkings taking the pot 'll ina strong earnings report webrg you the trade when "fast money" returns s us moving. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... giving us confidence in our future ...and in kevin's. voya. well planned. well invested. well protected. this is how you become the best! [music: “you're the best” by joe esposito] [music: “you're the best” by joe esposito] [triumphantly yells]

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weaker, i think that doesn't bode well for that parabolic type space i'll tell you why. because aside from the stocks these sit squarely in between prerevenue growth staining and the behemoth names zoom sits there and i think how that stock trades will set up nicely and inform the trader in terms of how expected the stock has going for it >> pete, i'm going to guess, guess which name that you're watching target >> which one >> it is target. >> brian cornell has done such an amazing job, mel, and it continues. i'll give you one great example. we talk about digital sales. we brought up shift many, many times. the fact that they paid $500 million for target, i've seen estimates as high as $15 billion if they were to spin its out i think it's amazing what they've been able to do.

their earnings growth last quarter was incredible the revenue growth as well, absolutely incredible. digital sales and pickup are off the charts i think that continues margins is what i'm going to be looking for. if it's as sticky as i think they are and they've got 10 million new customers, i think we're going to see a lot better on the margin side because previously it was a store that everybody was going for as they were shopping and they were looking for all the essentials now they're going to the rest of the store. if i'm right about that i think it's a stock that can timely break through 200. >> theoretically people will have more to spend can target do as well post pandemic than it has during the pandemic. >> i think a lot of people go into these names and i think they got over bought i do think that everything that pete just said i believe that now you're getting a more

realistic version of what it's going to look like coming out of here, and you also gain more market share, i think these names can do very well i think amazon is tremendously overbought a name like target, i think, can really handle the pace in the new environment and the new customers that they got off of the pandemic >> james, you got neo? >> i like neo. as much a fan i am of ilan musk, 24 times forward earnings and neo is china's leading electric vehicle manufacturer they've got january deliveries, 352% year over year, 10th month of triple digit growth the chinese retail passenger car sales are up 25 1/2 it's 1.2 million cards the market is expected to grow 40% h in china

the government's going to support it it's likely to boost neo's effort and rising supply and shifting consumer demand we think surge in deliveries are going to off set the costs of r abdomen d. tesla has the stake in the ground what board earnings can be, so in that point >> what are you watching >> cost co for the same reasons that p. is watching target they do about 46 billion internationally. i think once we start coming out and once the global recovery really starts taking hold, you're going to see costco move the needle there plus anyone who's a member of costco renews. they have a -- i believe a 91% renewal rate so watch a couple of things.

it's off 15% from its recent high i think they're going to be surprised to the up side i'm going to be seeing if they can handle that. that's going to shock a lot of shareholders who thought it was over for them. >> draftkings surging more than 6% today we'll tell you how traders are dealing with this one. option traders are digging into banks. why now could be a perfect time to make a thawwidral from the group. we'll bring you that and much more stay with us ♪♪

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expected growth and a whopping 2660% since going public last april. pete, how do you feel about this one? >> i feel a little bit sick, because i owned this one for quite a while. i owned it till last spring until very recently. then i sold out. my reasoning was i just didn't feel comfortable going into earnings i just -- and i should have and i didn't you might see me back in this name quickly the numbers they were reporting were fantastic i think across the board, the earnings were far better than expected, the revenue was incredible you mentioned a couple of other numbers as well. i think the combination of all they are doing right now sports line gambling, the on linegambling space and as states continue to expand, this is something that i think is just going to continue and they already gave us the forecast themselves they said 2021 looks like it could be up 40 or 50%. for all those reasons, i'm kicking myself i got to jump back in very soon.

>> that's one reason, the four corner was better than expected. as you said, pete, as they enter new markets, that's going to be good for their earnings. bonawyn, where do you stajd on a name like draftkings >> a name that i still own i fill buy -- i'm still a buyer of the whole story here. what i really like about it is a relatively capital wide business all those combined, i like >> it is time for the final trade on this friday let's go around the horn james mcdonald >> roku, known for its dominant streaming platform but there's significant ad revenue space they're going to get a cut of ad revenue. 10,000 apps on roku platform >> your champion grasso, what do you say? >> sonos, this is one i've been long i'm still long this one. it never had a demand issue.

i think this within is going higher sonos. >> bonawyn >> hshb, rate pressure continues. look out below >> keith i'm going to go with medtronic. we had a lot of call buying. back into this name. options action is up right after this

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happy friday, everybody. it's time for options action here's what we've got lined up for you. >> bringing it home. the interest rate ripples spread out all the way to your regional bank carter worth charts the course then it seems everything always comes back to apple in some way, too, now, doesn't it tony sees the orchard through the trees. and finally, coming or going professor mike co-tests the doppler effect around targets. it's time to risk less