stop, it's well along, a much more messy rotation. fang is not really where the excess is right now. i also wonder if just when everybody's convinced all of a sudden we get a re-rotation or a flattening out of strengths and weaknesses >> much more annals coming up now on "fast money." >> the tech trade continues to unwind as stocks sink. all three major averages falling more than 1% the nasdaq, all of the schemes for the year, the biggest thee-day drop since early september. jay powell, the fed chair saying they are going to stay on the sidelines even as rates spike. what should you be doing now guy, tim, karen, and dan joining us tone.

dan i'll go to you first what's your take of today's action, the selloff going on for weeks now? >> yeah. i think the market's come to the realization that maybe rising ratings, although seemingly indicating a economy that's coming out of this and looking really very health write, it's not such a great thing for the stock market we've been talking about this now for quite some time and it feels as though the market is about to wake up to it there's probably some room in these high valuation names that don't have the earnings growth behind them to support it. when good news becomes bad news, and we talked about it in the form of nvidia, which i thought would go higher, by zoom, which i thought would go higher, when you see that happen it's maybe indicative of a sea change i like to think this is the end. but in terms of the nasdaq, you probably have another six, 700 points to the down side.

>> good news becoming bad news in the form of vaccinations are up case loads are down. the economy looks like it's going to reopen. the fed chair says, you know what we're going to it go we're going to let inflation run. that's not what the market wanted to hear >> i don't know. does the market -- i agree with that because the market reaction spaeks for itself. absolutely i'm going to say i think this has been the noisiest minus.3% pullback in the history of the s&p in all time. there's some noise surrounding this i'm knot would you rathering a one-year ten years versus a 60 point basis ten-year come on. where would you rather be. guy pointing out that the frothiness of the market is

something that i think is a very different story and maybe also a very good story. weren't we just saying two, three weeks ago that market was bubbleishes and these were all in balances that we were having trouble digesting. so again, mega cap tech, a lot of it was up today those are arguably stocks. i think we want to take a deep breath here. i don't want the fed to do anything >> you don't want them p to o say we don't want it this high or we are watching this very closely? you don't think that that would calm the markets a little bit? >> do you want to hear the fed say we're about ready to do operation twist? we went into this with a 160 or 180 ten-year if we come out with that, i'm fine >> the buy fur indication which you pointed out really emerging in today's session

facebook finished the day higher alphabet finish the day higher there are a number of others doing pretty well. apple was in line. that was interesting >> yeah. so that was a little bit of a disappointing day for apple, i guess, but this -- i gray with tim on what a noisy, noisy session it was i can't imagine that powell went into this trying to -- i think in the market's reaction to what he said was kind of unrelated. people seem to kind of flip out. see something the opposite i think we don't want them to do anything they've said we're going to let up nation run. they've said that. we talked earlier in the week about inflation running and then probably cooling down. so i don't know. today was a giant rotation which i thought was interesting. this is one of the busiest trading days i've nad a long

time i did a lot of trading today because i think a lot of things have moved too far the re-open trade, some of that -- not some much of that is priced in. something like a live nation, i love it. i'm happy to have to pare it, but i did. same for ulta, same for starbucks. i had to sell a little google today, not for any reason, i don't like google, just because it's gotten too big relative to other things i bought some target today which at one point was down six bucks. i bought some lowe's, which was also down six bucks, which is ridiculous i did sell a little bit of weight watchers because it's run so far since we talked about it. so it was a very big, you know, sort of reapportioning the portfolio for me >> i feel like i'm talking to a

today. >> degetty up >> there's really nothing that jay powell said that should have freaked investors out. they've been talking about letting inflation run hot for, what, since jackson hole, since august so to me, i think it was investors really looking for an opportunity to possibly take some profits look at what karen just said she was looking for an opportunity to lighten up on some things that have acted pretty well over a long period of time. if you're thinking about these reopening trades, we know the old mantra you buy the rumor, you sell the news everybody i know is getting a vaccine right now. pretty soon we're going to be on the other side of the vaccination and then it comes down to how do schools get reopened how do the economy reopen. how do we get comfortable about live events and traveling.

it's not going to be just a straight line from here to there. that's why these stocks have been rallying. i think karen is correct, the mega cap tech trade they have been projected over time amazon has not made a new high apple has only confirmed many, many new highs in the s&p 500. there are situations where there's great expectations for earnings just this week you mentioned zoom, you mentioned nvidia last week, micron through sell them. it's as good as it gets for right now. rates going the way they were going, i would take issue in what tim's saying, 60 versus 150, when you think about the deficit and the debt awash on this planet, the cost of servicing that is tremendous i think the markets are starting to price in a little bit of what a global debt binge looks like with higher rates. we've seen this before

we remember december 2018 what that was like. the s&p 500 dropped 20% in a straight line. to me, this is not a curious action the stock market is unchanged. no reason to freak out the idea that it can't go back to 35.50 where it recently broke out from, you got another think coming it's not even that deep of a correction everyone, just be cool here a little bit the only reason you'd freak out is that if rates got above 2% in the ten-year >> maybe that's what the market's telling you i don't know, guy. i feel like you fall into that camp dana made a good point in terms of powell saying we're going to let inflation run. but in august no one thought we'd be where we are on the precipice of opening the economy, that every adult can be vaccinated by may.

we never thought we'd be reopening at this pace, and yet here we are. now given all that and given the consensus is that the economy is going to open up and be strong now the markets are freaking out because they see what that could mean, let inflation run a little bit hot. >> i love what you did there the world changed. the green bay packers in the 60s had about six plays they ran they had better players and better coaches than everybody else and the league couldn't catch up with them now the league has caught up with the federal reserve and that game plan, they're giving you the same old mantra in a completely different environment in the last six or seven months. i really have no idea what they're rooting for. their ability to control things, outcome of things is same as my ability to control the ranger game tonight, by rooting for them i don't have any control and

neither do they. >> let's bring in the founder of the focus syntori funds. >> great to be on. >> are you worried about inflation and is that influencing how you're running your portfolio right now >> if you do to danniles.com and i said my number one pictures for this year were related to inflation, economy of opening up running hot, and -- we had j.p. morgan in there for rates going higher we had the xle and this is all on danniles.com. that's why we've had the best start to any year in our 17 years of running the fund. betting on that and betting on the fact that tech would have a tough time as rates would go up. that's why we only have one tech name in the portfolio for this year in terms of the top five

picks we have. >> hey, dan, it's tim. thank you for joining us my question to su a simple one as a portfolio manager what are you doing with a higher, a 160 ten-year differently than you were doing it 60 basis appoints >> not much, because i think it's going to get to 2% or higher by the time this is all said and done by the end of late this year. we had a lot of tech shorts on, highly, no profit, software stocks we covered shorts across our portfolio. and i think there's some good news getting thrown out with the bad ones, so for us, we love days like this, because it gives us a chance to cover some things and potentially look for names we like on the other side of it. i think the renation trade in terms of the you're looking at

certain sectors, like energy, like banks, they have a long way to run because you have rates going lower arguably for 40 years but since the global financial crisis you've had energy people cutting back on spending and the agriculture sector which is why we don't believe much fencing -- there's going to be a temporary trace in inflation we don't think that. we think it will be persistent as the global economy begins opening up when they start hitting zmof these names, etc., it makes us concerned in terms of adding to our exposure >> hey, dan, it's dannathan.com here i got to know you in the late 90s when you covered some semiconductors and hardware. that's were hot saektsz then

they're hot right now. can you help us understand what's happened in it. everything was going really well and the supply -- kpland analysis it's a cheek stock, more room to run. they pre-announced a new number and it goes down 12% in a straight line over the past couple of days how does that figure into a little bit of the following in tech right now in a space that should be doing very well given those dynamics >> i think there's a couple of things to remember semiconductor with notorious of not knowing what's going on because they're at the back of the supply chain to you've got apple -- well, at&t arguably, apple spying into them, they sell a lot directly themselves then they have that manufactured on high and then you get around to micron's shipping, who ships to apple, who ships to at&t and

verizon. for example as apple, inventory sup a ton. you look at tsmc's balance sheet and you look at the inventory on that ballot sheet it is a tremendous amount year over year as well. you've got up tore in the smartphone supply chain building up other sectors like automotive, it's not that bad. i think much like a few years ago when d ram cycle was going to continue forever and all of a sudden prices start to crash, i think you have some risk of that in certain sectors i do think in the wireless supply chain where they play is -- and the stock's not cheap, by the way, it's selling at one and a half times book, if i remember right yes, if you put huge eps numbers out in the future, it looks

great. but that's not one of the -- we have other names that we like a lot better in tech, like google, like facebook. fortunately today they actually hung in very well, which was interesting, i think they'll benefit as ad rates go up that's kind of where i'm looking and today's a great acid test of where people overly optimistic or where are spaces that are priced, you notify, at a good price and i think those are two names, for example, i like much better than commodities. >> dan, just quickly, was there anything that you bought in today's session and more specifically within technology, since the nasdaq is down about 7% for the year? >> i really thought about buying some more google i didn't end up doing it but what we did, a majority of

our shorts are sitting in technology we covered about 70% of our short book in the entire fund, and so software, high multiple software stocks with no earnings, that's where we went in we covered a bunch because that was the sector we hated the most because that's the one that's going to get hit hardest when rates go up. we're sitting on some cash right now. i feel over the next day or two we'll start deployings it. we've got stimulus coming. i'm sure people get the checks and it will find its way in the market we've got a lot of pain in store after that >> dan, thank you so much for your time. it's always great getting your perspective. >> thank you melissa >> dan nice. i think that was an interesting point at the end, too. stimulus on the way. all or part of that stimulus

could be employed in the market. it might be more target in terms of income. does that factor in at all to your more bullish view versus the other traders? >> well, it certainly is a backstock heap thinking about what stimulus checks meant direct flows into the marvegt but i think about it also as to how that money was being spent in the economy and some of the consumer stocks and for example we talked about this walmart's pulled back. i thought yeah, there was a covid dynamic but if anything, it's a reopening trade as well the things i would be looking to invest in around stimulus are -- those stories are the consumer, best buy, a place where i think the stimulus checks are going to go apple is where those stimulus checks are going to go cash levels in the market right now are at reasonable levels to feel there's a decent backstop here i don't think we're that far over our skis in term of equity

valuation. dan talked about the companies that he went short that are companies that just don't make money in multiples >> karen, did you cover any of your idv, the short? >> i did not but i definitely looked at it. it's down a lot. it was down 3% today, at one point down 4%. it's time to start covering. >> all right >> i will probably do that tomorrow >> shares are falling in after hours. we'll bring you the trade. later, a tidal wave. the 297 million dollars deal that could shake up the entire music industry details when "fast money" returns. but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america.

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jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. welcome back to "fast money. we've got earnings alert on costco shares moving lower in the after hours. courtney has details >> hi there, melissa costco put up a missed quarter, but a beat on revenue. comparable sales were strong that continues sales up 76% for just the month of february, comps grew better, 14%

online sales up 91%. shares, as you mentioned are down more than 1% after hours, flat if you look at the last year in the ongoing conference call right now, he said transaction growth is up gross margin did fall. fresh food sales were strong, along with liquor. a number of other categories whereas they're increasingly in the u.s., in canada permanently after a year of extra covid-related wages to $16 an hour and 16.50, respectively he said furniture, imported cheeses. he noted shortages of chips, also impacting his ability to get tvs, smart appliances, exercise items and more. back to you >> thank you courtney. guy, what do you make of this

quarter? i thought the impact of the chip shortage was interesting presumably, those are higher marking products >> just talking tablgt chip shortage quickly, when everybody started talking about that, that seemed the top ironically enough, the chip saek, which i find interesting, but the costco transaction, eps, give them sort of a mulligan here, as they say in golf, in terms of what's associated with it you have to figure out where to get back in the stock. right now it's 19% from the prior all-time high. maybe down 25% makes sense that gets you down to 295 or so. that lines one the lows we saw earlier last year. i think you're more inclined to figure out where you're buying it now than where you're selling. >> karen >> i think about costco, a giant

premium as it should it absolutely deserves it. incredibly well run. i think it would bode well for them in terms of margin impro improvement. makes me look at the people dumb -- or the pe differential between 30-ish, coming in from 31 to 30 and walmart at 23 and target at 19, that differential seems overly wide for me and guying target today. walmart yesterday. >> walmart and target should go higher as opposed to just costco going lower. >> i think so. >> we got a lot more ahead on "fast money. here's what's coming up next >> it's hip to be square the payment pioneer signing a music mogul to its board and getting in on the streaming business but why? and what could crypto have to do with it? and we'll tell you what it is

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welcome back to "fast money. he's got 99 problems with squire teaming up with jack dorsey in a $2997 million deal that could shake up the music industry. kate has details >> hey, melissa. square is is buying a stake in the music service title. the cash and stock deal gives jay-z a seat on square's board why are they doing this? music streaming and payments he described it as a way to get

musicians way to get better economics. otherwise, the details were pretty sparse. one analyst tells me that they always count on dorsey to be a bit unpredictable. others say this is another boost for the cool factor of the cash app. dozens of hip-hop artists have written cash up into theirly irks customers who buy and sell crypto currencies tend to bring in more revenue. that could be the same case with moving streaming it could also play into dorsey's business for crypto. they're using nfts the latest this morning. to use these digital currencies to sell their albums while square is known as being great at building things internally like cash apps, it's a less stellar record for m&a.

square sold to door dash back to you. >> kate rooney with that i feel like this acquisition was very little, karen, and you buy the celebrity factor and you buy an expensive way of trying to go into this emerging area of nfts >> right well, aside from the bromance factor, also, the terms were not disclosed except it was cash and stock and what the overall price was and that i believe jay-z and others are holding their stock so to the extent that stoke is rich square, which it does maybe they didn't pay that much for it it's interesting, though i think the cool factor is relevant somewhat. i wouldn't be surprised if jay-z ups his tweeting a lot that would be helpful to jack as well it's a small acquisition for them, but i don't know i found it interesting i wouldn't be bummed out if i

was a square holder, i don't think. >> you actually sent over -- and i don't follow jay-z's twitter feet i probably should. there is a photo of them sitting together by a fire sharing some red wine it was apparent that they had a very good relationship, so maybe this was a long time coming. our next guest says title. let's bring in dan he currently is a buy rating on the stock. dan, great to have you with us >> hey thanks it's a pleasure. >> i want to talk to adam, but in terms of the overlap between music in square and cash app, do you think that people who buy music may also be more frequent traders of buyers of bit cocoin will there be on the platform in other ways >> yes this is a fantastic axis

once they get one step closer to that dream, which could be anything from four to $500, right, and the reason it does it is because this is the primary booster. people listen to music we've seen statistics, people listen to music over 30 hours a week by listening to the music, you're opening the app you're engaging with the app you can trade bitcoin, like a little money, etc., etc. that's what it does. people saying it's a music stream service, they don't get it it's about making this one part of it being in the ecosystem >> but basically we don't know if these people are going to engage in the app. they open the app in order to listen, possibly, to the music service. we dorntd actually know if that necessarily means that they engage in the app in other ways, other additional revenue streams. >> check we don't know that

almost statistically speaking when you're there and listening to it and they offer you to buy bitcoin or to buy stocks, you're more likely to do it just by being there. 50% is being there and once you open, yeah, you do other things. it's another tool, basically a free call action option abuse it's less than half a percent. even if it didn't work, it wasn't a big mistake but i think it's a call option on a massive new space for square's 36 million active accounts right now >> let's talk about nfts now in what time frame do you think square will actually be in this business >> you know, square is very there, i think in no time. yesterday we posted payments in 2030 here. and basically the one big headache-away and i agree with her, i think that this could take not years but months for

square to start offering more crypto around music, around this, because i think this is going to be front and center for square i don't know if that's the reason they bought it but it's huge >> tim, do you have a question >> it's tim. sorry. the question i have on nft's is how pervasive do you think this will be, they've been in the genesis of the art world, so it seems rpgs but empowering, entitle artists, the mechanism for artists in digital is something we've all been waiting for. just thoughts on that game changer? >> i think it's a game changer, right. i think the music industry is basically a global phenomenon. square is buying them just when we're exiting covid and things are going to have to change and there's one way to change things

and help the artists monetize and secure their ip. i think that's one of the social empowerment that she was talking about. i totally think it's a game changer and i think that as always jack and square are five to ten years ahead of everybody else that's why we have that. >> great to speak with you thank you. >> thank you >> i'm curious to get your take on this whole thing, whether or not this is actually a play on nfts and if this is a good or bad thing. people spend 30 hours a week streaming music. they could have bought a host of other things people do and said chances are engagement will go up if they tacked on, i don't know, some other website >> i think this threads together, a lot of things that jack is passionate about, when you think about his introduction of built coin into the square ecosystem, it's all about

empowerment. he's looking at an industry he likes. he's into art. music is art by doing this with nfp gs because they have the demographic going to the financial digital world, it seems like a logical extension i'm all for it a hundred million dollar market cap. you bring a guy like jay-z into the mix, it's brilliant. i'll say this as a music fan i'd buy one. one of my favorite bands, buy a delux item and toikts their show for life and maybe some other cool things associated with this i think it's the first inning, the first pitch for this sort of stuff. could you do it through an independent organization probably does it need to be on a block chain? not so sure. smart contract i think there's going to be changes in the industry. innovati people like jack will

uncover it >> the chart master says there could be a buying opportunity out there. carter woert will join us straight ahead option traders are hitting the outlets. we'll break down the move we saw in tanger. all that and more when "fast money" returns [music: “you're the best” by joe esposito] [music: “you're the best” by joe esposito] [triumphantly yells] [ding] don't get mad. get e*trade and take charge of your finances today. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over,

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welcome back to f"fast money. the dow dropping the nasdaq leading the selloff falling more than 2% it's negative for the year the chart master says there could be more pain ahead carter, what do you see? >> well, a lot going on. i think maybe after we look at some charts, i think the most important fact today is the top five stock as a basket, apple, firing, google, amazon, they were down.7% a few charts first, reversal formation. people hyka to name them one popular thing head and shoulders, cups and handles.

doesn't matter what you call it. it's how something starts to reverse. you can see how well annotated it is here in fact, it hooks like that image. now action the second chart is where things go if and as they play out so the snekline, just again sticking with those visuals is the intermeet lows from which a breakdown occurs now, those two charts we've just seen are as of yesterday's close. here's to yesterday's chart. this incorporates today's action we broke very hard precisely at the neckline and the question is how far do you go down. there are some tricks of the trade, something known as a measured move, which is considerably lower, but if you look at the next chart, this is important. the trend line in effect for the nasdaq composite, very precise trend line was broken today. you have the head and shoulders formation and the trendline and

one of the biggest down days of many, many weeks and it's right at a juncture where pattern work might predict it two more this is a two panel. this is the nasdaq 100 on the top and its relative performance to the entire nasdaq what we have here is a circumstance where these stocks have underperformed. we know that because they've been flat to slumpish, amazon, apple, facebook, google. as lower quality names in the nasdaq have continued higher, but every instance, going back for some 20 years, when you've had a dip in the relative line to this trend, they start to actually come to life relative and we saw it today. down only .17% in the top five put it all together. let's end with one stock relative strength's a very important thing. google was down for about seven minutes today. imagine that in the morning and basically was

green for the rest of the session. so there's free will people can sell everything they have margin calls they choose what to sell they choose what not to sell no one was selling google. that is a hugely bullish thing >> carter, can we back it up to the chart of the nasdaq, when you said the break could be considerably lower what did you mean by that? >> well, so a measured move essentially is the width of the range -- this is esoteric -- from the head to the shoulder. and if you were to have a move that's commensurate to the move from the head to the neckline, you're talking about another four to 5%, which would represent a definitive break of the trend line, which we just started to break today >> carter, thank you guy adami, i go to you which chart do you like? why are you laughing >> carter sits atop the parthenon of things.

i dig carter worth it's fantastic i think google, he's totally right. karen mentioned it at the top of the show that's the cheapest one of the maga complex that dan talked about. that's the one that's going to have the most safety when the market goes down and the most up side if it continues to grind higher i think you have to have your eyes firmly on yields. if yields do stall and go back down, you're going to have regrets if you didn't buy google i know there's some jay-z fans that are smiling >> i thought you were going to say jay-z is a fan and he's smiling now because he's watching >> the only reason i knew his song is because he dm d and teeld me you got to get "regrets" in >> no doubt. the nasdaq more broadly can see another drawdown >> i agree with that will a hundred percent.

let's talk about apple it's down 17% from its recent all-time highs i think there's some support not too much further than here the september drawdown, 25%, that first quarter 2020 drawdown apple was about 35%. maybe you get something closer to the 25% or so, so that's where i would start picking at apple a little bit microsoft has actually acted pretty well. i think you have some great support at 210 valuation-wise it doesn't look like facebook or google did. i know those were dan niles' picks. but i think and microsoft are the things to buy. >> coming up, check out this crazy move in shares of tanger is this stock under attack from the reddit rebellion we'll dive in for a closer look. stick around, more "ston" fa mey after this quick break

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welcome back here's a sneak peek at the cramer cam jim is speaking with the ceo of fire eye top of the hour on "mad money.

check out the wild ride for tanger outlet. shares up more than 20% this morning before giving back those gains. this stock has been on a roller coaster ride the last week mike, what did you see >> yeah. so it's interesting, you know, the more wall street seems to dislike a stock, the more of reddit type traders we can say seems to like it this is a stock with a high short interest it traded about six times it's daily options today and most of that was concentratesed in the march 20 and 30 calls. this stock doesn't have any of those. these are the nearest they could find the calls were trading for about $2.50 to 30 strike calls for an a dollar they're betting the move we saw to the up side could happen at some point in two weeks. this will expire two weeks from tomorrow >> karen, does it seem like it's

a reopening trade, so it could be benefitting from that >> most definitely a reopening trade. i think, you know, the stock bottomed out at five or so i'm just -- you know, the industry started to have somewhat of an existential crisis when retail online shopping grew a lot. so you could sort of see the writing on the wall, and i don't think that has changed i think the pandemic exacerbates it tim loves to go to htanger >> yeah, yeah. >> so i just -- and i wasn't shorted but i think there's a secular issue here and i would never, never get in the way of wall street the reddit crowd i don't want to be on the other side. >> short interest is right 33% rite now

mike, thank you. see you tomorrow on options action coming up, more in today's market selloff how traders are preparing for tomorrow's trading day we'll break it down for you when fa meyon rurston meyetns "fast money" returns. ♪♪ ♪♪ ♪♪ ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪

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welcome back to "fast money" markets and selloff mode today how are investors doing tomorrow die, what will you be watching >> i'm a broken record now, though the great record of cassius cuve kbrrvegs, who i know is watching who write a rap song one and a half tenure. the dollar has found its footing. i'm wondering how long that stays above the 90 level if you have a down day tomorrow, that should mark a short-term bottom mel. >> so far the ten-year yield is holding up pretty well, 1.356 now. this tim

>> this dollar was rallied almost two and a half% that's been painful and that's been part of that risk off mode. i think you have to look at copper think about the move we had in copper you know, it's not the most efficient bench mark to trade, but i think it's worth noting. it's about the bopped market right now. >> karen, you're pretty active in today's session, so what do you think for tomorrow what's on your to-do list? >> yegor some inches gv. it's an index. it doesn't move that much. it's down 50 points. if that wasn't enough, i should have shorted it r month. i thought it would be down more. i have to start covering some of that i know i'll never pick the bottom, but this portfolio management wise, time to cover some >> yeah. dan? >> this might surprise you, mel,

but this is a bit contrarian if you were to look of the last month you see it looked from 29 to 34. you look at the treasury yield went 1% to 1.54, where it is right now. they basically tracked it -- not percentagewise but if you just look at the chart. i think you see a consolidation in yields here that 155 rangest long term technical resistance i think the banks are getting a little expensive, the euphoria around them and the opening trade and the yield trade seems a bit consensus now so i want to take the other side of that in the xl app the xl move i think is probably ready for at least a consolidation, maybe a short-term pullback. >> tomorrow is jobs report as well we should mention that for sure. today was jerome powell's last appearance out before the next

fomc meeting which happens later this month if the markets continue to sell off, guys, will the fed be forced to do something or say something a little different >> you can't knock the hustle of jerome powell. i got to tell you, they should remain quiet a while there's an old saying when you're bigging a hole for yourself, drop the shovel. maybe jerome and the fellow fed officials to drop the shovel and hide for a while, let the market cool down. i do think the jobs report is important. i think yields are far more important right now. me >> up next, your final trade stay tuned

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snhu can help you get there. visit snhu.edu today. time for the final trade let's go around the horn tim seymour. >> that's a 17% pullback in walmart. we talked about valuation on this one i think there's good support of the stock at 120, 124-ish. >> dan >> i'm looking for a 10% pullback over the next couple of weeks. >> karen finerman. >> i thought playbook was what's your final trade, so igb, similar as the last.

>> guy adami >> yeah. i just want again to shout out to jay-z great talking to you off line. we'll chat again soon. come on "fast money. chicago mercantile change higher on a bad tape. >> don't mislead america, guy, please "fast money" with jim cramer begins now please thanks for watching "fast. "mad money" with jim cramer starts 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 save some money here my job's not just to entertain but to put days like this in context because they're not easy so call me at 1-800-743-cnbc or tweet me @jimcramer. you're probably asking yourself when is it safe to start bottom fishing? maybe you started