lower. that does it for "closing bell" on this friday we also want to say have a very good and safe memorial day weekend and especially on memorial day we want to thank and honor all our veterans, especially those who have passed we mourn all of the great women and men who served this country. have a great weekend, everyone "fast money" begins right now. i'm melissa lee and that is "fast money" tonight's trader lineup guy adami, tim seymour, steve grasso and guest trader courtney dominguez, senior wealth advisor paying capital management tonight on fast may be breaking balling out the barbecue for the holiday. but the coming crash in bitcoin and shares of boeing giving back gains, a cause for concern or opportunity to get in. wwe we have we have a bonus hour of fast, the hot list, biggest trades of the week you will want to hear that list.

we're kicking off the weekend in a summery kind of move, shaping up to be hot one, capacity restrictions are lifted, people are going out and spending prices are going out as well, with rates holding steady how are you thinking about your summer play book, what works in this kind of environment guy adami kick us off. >> hi mel, i didn't harper . >> hi mel, i didn't hear -- one stock getting cracked is air bnb went from 215 to 145, at 140 now. rbc initiated the price target for wells fargo positive this stock off earnings i think it's got its mojo back i think this is a stock that can sort of try to get back to those levels we saw earlier this year. i think air bnb for a trade with

everything going on giving the sell offsets up well into june and july. >> right out of the gate, 01 5 01 you have one specific stock you've been pounding the table on for the past few shows. according to dominguez how do you think of the environment in general and what sorts of areas in the market will work with this sort of back drop. >> i'm completely on the same page with you, i think we'll continue to see this reopening and memorial day kicking off travel also the reopening in general. interestingly enough you're seeing 57% of americans plan to do a road trip this summer, oddly much, up 30% from last year, really seeing the demand come in but we're in a period with low interest rates and likely will see more stimulus with biden announcing that today. we also have a weak dollar right now. all those things will really benefit cyclicals cyclicals like energy and banks

the s&p only has a third of the weighting right now and half in things like consumer discretionary in tech firmino zbrz things out of favor right now are hechavavy favorite in s. tim how do you like it. >> i love it and feel better when you look at names like transports they've been quiet, banks were on stage with the hearings this week, and we reiterated here on the show, i did, i think the valuations in banks which tend to be late ps ps cycle cyclicals and -- there's no question the third quarter is actually going to make the second quarter like we were asleep and because of that, i think the cycl

cyclicalsnames are good to own i like fedex multiple not difficult. courtney talked about energy i just think people are under-estimating the supply dynamics both what's happened on the back of covid where you have geo politics at work, where you work through over-supply dine am eickhoffs and ha dynamics and had -- the energy sector we spend a ton of time talking about ev dirty energy looks interesting >> how do we factor in inflation even if transitory the consumer is looking at inflation every day when they go to any store, steve grasso, what stood out in the costco call yesterday was the comparison of inflation in march versus what they're seeing today i think it's 1.5% in march 1.5 plus and it basically doubled to what they're seeing today. that's a big jump in a very short amount of time

yes, it may not last but for the consumer when they grab that rotisserie chicken likely that $4.99 price tag doesn'ting to be there. it's going it be high zbler and you need to double bag that chicken >> they leak. >> it's really, really greasy in the back of the car. what's that coupled with mailbox money. courtney spoke about there's going to be more stimulus. there's stimulus now i think it's over compenseating whatever the rising price is that consumers have to deal with my play book is the same as last couple months. chemical names you have to play your materials. chemical, a name that karen and i have both been in. you got to remember the infrastructure play, the steel names, aluminum, all these names are going to pop copper is going to pop even further. i will stay with wrk, west rock.

oln. tse. those are names that are no-brainers for me right now they've had huge moves up. i think they continue the move and i think we're in that sweet spot on the ten-year bouncing back and forth from one spot 53 to one spot 69 that is just right for both to work, growth and value >> seems like nothing can break the upper band on the ten-year yield not even the hot, hot inflation numbers we've seen of late does it mean maybe just maybe we get a reprieve for some of the tech name that's had beeni shunned because of rising interest rates looking at cre yesterday after close, today got a nice pop, can we see names like that finally catch a bid 24 -- this summer in environments where rates can be tame. >> i think rates are going higher but names will continue to work. crm we talkined about last night

for a while. i thought it broke through the down trend it's been in for nine months and you think the price action sort of cements that for me in terms of the other names, nvidia, a lot of people amped up about nvidia, had a one-day lag post earnings but look at the move today and you have analysts tripping over themselves with price targets, last one upgraded to 750, you will see more of that, i imagine so there's names that could work in the environment we're going in that environment to me is still higher rates i understand, steve is right, we've been in this brand, i think we'll break out of it on the upside. >> while hot dogs are on the bush cues cryptocurrency getting slammed heading into the holiday weekend. given how bitcoin is traded when stock markets close how should we brace for more pain let's hear from chartmaster of cornerstone mack r -- macro.

carter, what are you seeing? >> there's a lot going on and the stakes are high, opposed to a year or three or five ago the money involved is much bigger. the risk here is we're forming an important head and shoulders reversal formation call it anything you want. we'll look at the charts together and try to figure it out. so the first of a handful. what we know is what we're talking about important drop we hit the highs on the mid-april it was 64$64,870 zlrz and we plunge 53% to the trend line and hit the $30,000 level and bounced. but the bounce, as is often the case once you draw down that much, only made it back to where interested sellers were lying in wait, meaning, after having lost money and being able to recoup it often people sell into that move. an you can see that on that first chart. now the second chart is the

exact same chart but i've drawn the lines a bit differently, which is to say, this is perspectively the shoulder of an important head and shoulders top so the mirror image left shoulder is the draw down in the january period of this year, where we dropped 35% before going on to the big new highs. but here we are, it's very symmetriystem metal -- system met emricka symmetrical to shape up that way, 40u67 lowe how much lower could we be going? netflix chart. xt chart you see the line often after breaking out an important level you revisit that level it happens a lot in currencies, commodities and no reason it

can't happen in bitcoin. that level is $20,000 plus or minus. the question is, could we possibly, having dropped already 53%, could we go down that far, which would be looking at 70 plus decline from peak to trough well, look at the last two charts we know that bitcoin has had three similar draw downs that have been morrow severe. -- more severe in 2011 we had 93% decline was new then and a different animal now in 2014-15 we had 86% deline and in 2019 we had 84% decline. so put it all together you see three similar draw downs as is this one continues, 80 to 90%. and were we simply to pivot back

to the highs from which we broke out, december 2017 highs, we would drop as far as 20,000. >> wow 20,000, carter, thank you. carter worth, based on what carter told us before in previous appearance 50% is garden drop, 85% is not uncommon, what's it tell you about risk appetites in the market, is a gauge for you >> the thing with bitcoin most of the movement is on trade and speculation and there's less merchants to accept bitcoin last year in 2017 you are seeing things like elon musk come out and say they're no longer going to accept bitcoin and there's probably a lot less corporate guidance, to accept bitcoin in the future, if it's going to increase their carbon footprint which nobody's trying to do right now. interestingly enough you've seen a lot of people sell out of

bitcoin at loss, not a good sign, assuming it will go lower, so it's nothing i'm looking at right now. i think it's too speculative and volatile but interesting to watch. >> what's interesting is reclaiming $20,000 level, long ways the from where we are now in today's market think of who entered the market since that last $20,000 level institutions, up and down wall street, hedge funds more retail, it's amazing even with that buy in from all facets of wall street that you still go back to 20k. >> and we've seen this in other asset classes but in aggregate more money has been lost in the last two months than was made all the way up when you measure the capital. so the dynamics around risk and bitcoin, is it an analog for the market i don't think so

i think dynamics are truly unique with drivers like coinbase and a handful of things part of this arena, doesn't mean risk-taking as we've seen overall more broadly markets has helped bitcoin at times in terms of liquidity, the vix down almost 50% from the lows of last wednesday. i see a market that's gotten complacent again i look at semidconductor have reasserted leadership up on s&p 12% in seven sessions, that's extraordinary. and it tells you that, i think, there's a lot of appetite for risk right now >> interesting with the volatility in bitcoin mostly going down, grasso, that a lot of meme stocks have found a renaissance, if you will, when you look at amc, beyond, and gamestop, is there any relationship in your view? >> so, when -- it makes me think of about when you said is there correlation to risk on, risk off with bitcoin, and things that

are sometimes correlated you can't say they're correlated at all. i think that this is more about the environment, more about elon musk, the most recent action in bitcoin. i think you could make the correlation to the meme stocks just as a matter of people are putting their risk capital in a handful of names versus in just one name with bitcoin. but what's interesting to me if you look at the gold minors, the gbx, etf, it's up 14% since the middle of april. if you look at what's happened since the middle of april to bitcoin those are inversely correlated so i think if carter is write and we see $20,000 in bitcoin then we're going to see the continued movement in gdx because there's a lot of that same movement there. but one last thing, with the risk tolerance, you can't say risk is off the table when you have the s&p which is less than half percent away from all-time

high so i think tim's right, the market has become complacent, people are letting money ride. >> all right coming up, -- we're cracking open a cold one as we get ready for earnings from corona maker constellation brands, what mike oukhw is seeing, we'll get answers when "fast money" returns but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that.

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xfinity internet customers, switch to xfinity mobile and get unlimited with 5g included for $30 on the nations fastest, most reliable network. welcome back to "fast money. a bigwarning out of microsoft, the tech titan saying the group behind the december solar winds hack has more targets in its sight. let's get the latest developments, eamon. >> melissa, the russians are back, this just about three weeks before the biden-putin summit in geneva, switzerland, in june. so tense international back drop to this one. microsoft said yesterday it is about 3,000 e-mail accounts that have been target in this latest attack they're saying about 150 groups around the world have been impacted they're using usa-id, that's the u.s. government agency that does foreign aid, to send an e-mail system they had, to send

phishing e-mails attacking government groups, non-governmental organizations, think tanks, the military, other organizations including telecon firms and defense contractors, the like private sector is a big piece of this microsoft saying this is an active incident, that is, it is still ongoing. so they want you to watch out for e-mails like this one. this is the actual usa id e-mail microsoft says is involved in this people get an e-mail that looks like it's from the government dated may 25th and says special alert, donald trump has published new documents on election fraud this is may. donald trump has been out of office since january why in the world would donald trump send anything through a usa id e-mail server it's unclear right? people might be curious and click on the link, when they click on that link the russians get into their system and it's off to the races with the hack so they're using our own

curiosity against us by putting something out that is befuddling where you say that's not right, i'm going to look at that and bang they have you so we'll see from microsoft how far it will go, i will speak to microsoft executive shortly and we'll have more on this this evening on the news with shepard smith. more details from microsoft in upcoming minutes >> the last solar winds hack was back door wasn't microsoft but a service microsoft was using effectively, i am wondering, have they closed that hole, so to speak and this is a new true in >> yeah there's been an enormous effort since that solar winds hack remember it was a supply chain hack. >> right. >> that is, when you get into the software of a supplier and that software is sent to the customers who update the software and now all customers have that virus in their systems as well. so this is slightly different, it's going after the ngo's

directly with these fake e-mails. but this is one of those things where they've been patching all the holes but there's still more holes for the bad guys to find. >> yeah. it's like whack a mole more coverage tonight at 7:00 eastern on the news with shepard smith. guy adami this is troubling but means a big fat pipeline for the cybersecurity stocks >> yeah, three in particular, by the way, i totally dig ej. >> i know you do, it's like a man love affair. >> he is the man no, well, i hope he feels the same way, i'd be okay if he didn't, whatever, it's all good. z scale, palo alto and fire are names we'r fire eye, i think might be an acquisition target i think z scaler will trade through the april high i think palo alto networks will trade through its recent all-time high. those three names in this space make sense in this environment.

>> tim, quickly? >> let me throw in another 234 name, how about crowd strike grew year-over-year, we know it's a year to see growth they reaffirmed 50 to 52% for the next 12 months i think it's a great story i think it's a story where, yes, the entire space is more focused than ever. not cheap. 35 ebitda revenue. but if you look at the chart 220, 225 looks like she's breaking out. >> coming up, was boeing's bounce busted, the headline had the shares doing an about-face and how to trade that move at 6:00 we're tackling the five hottest trades in the market right now and what they mean for your portfolio much more "fast money" right after this ah yes... groceries. earn points now to use on travel later. one of the many things you could expect when you're with amex.

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welcome back to "fast money. what a difference a day makes, shares of boeing bouncing halting deliveries of the 787 dream liner as faa seeks more information how the aircraft is inspected, tim you're a shareholder, what do you make of this pull back >> look, i think the faa headlines and how boeing will comment on them are intentionally conservative and not what's driving the stock i think with all of the mishaps and change in, let's just say communication to the public and obviously the relationship with the faa, i think you got a case here where that's not really what you're focused on as a investor you're looking at order book and other issues we talked about yesterday as it relates to international travel. >> yeah. courtney what do you think >> i have to echo that, the

scheme of things today are not different from the past, it's not a huge concern for the stock, if you are hopeful for air travel to increase, it really is, especially on memorial day on the reopening trade, i think boeing is interesting to look at and order is a good thing you bring up, which over february to april they have one of the highest quarterly orders over any three-month period you are seeing demand, i wouldn't worry about the recent headlines so much. >> we saw what air bus forecast did to supplier, steven, as a shareholder of ge does this make a difference >> no i don't think it make as you difference all of these headlines will have knee-jerk reactions. both ge and boeing made some nice gains yesterday but they haven't retraced enough for me to get shaken out of the name. >> all right time for the final trade, let's go around the horn, tim seymour what do you say? >> brazil has been working ewz, emerging markets, check it out

brazil >> courtney dominguez. >> i like the international trade, i will take a look at vea, great valuations right now. >> steve >> i know you're not supposed to buy stocks or hold them because they're a take out target but sonos i continue to hold and it doesn't suck if they get taken out does it. >> quite a word you used guy -- family show. >> remember why you're off on monday, folks. and i will see you at the nasdaq on tuesday >> that is correct we'll see you all at the nasdaq on tuesday ptnsctn"p xt "options action" up next

happy friday "options action" fans we have a big show lined up, here's what's son deck. >> looking forward to starting the holiday weekend by kicking it with a cold one, professor khouw has your examination then, don't party too hard or you will wind up at the doctor's office. tony zhang has one on speed dial for a different reason of course and finally, carter sobers us with the three r's,