thing. >> it was. >> we saw some real strength today. >> it could be something to watch. i think it is more likely to become less of a drag or you have spotty strength in there as opposed to resuming its prior role from last summer. >> merger monday turnaround tuesday all of our favorite expressions. that does it for "closing bell." "fast money" begins right now. >> we are live at the nasdaq market site and that is new york city's times square and this is "fast money. melissa getting a night off. i'm brian ullivan, your trader lineup, guy adami, tim seymour karen finerman blockbuster news out of bio gen, approving the alzheimer's drug we'll break down the landmark decision and talk about how

trainers are tradingthis and other names around them. look at that move, wow plus all over the after hours action in shares of stitch fix company just reporting results the analyst call just getting underway stock also soaring up 16%. we're going to bring you all of the big headlines. and later, apparently it is the year of digging stuff out of the ground and we are drilling down on one of the hottest trades in the world, and that is oil crude hitting the highest level since all the way back in october of 2018. we'll find out why, talk about some oil stocks that could add some real energy for your portfolio. >> nice. >> see that. some things never change all of that ahead. but we begin with the aips going bananas. wall street planet of the amc's, retail traders just keep hitting that buy button. but it wasn't the only colt stock momentum mover, reddit,

whatever you want to call it, printing money for traders and investors today. look at those moves. express up 16% naked brands, 14%. blackberry, 14%. game stop 13% and micro vision up 10% as well all of this even as the s.e.c. warns it is closely monitoring for any potential market disruption being caused by trading in these names so, with the interest in these stocks far from fading, how do we, how do you navigate these markets, guy adami, are you starting to get nervous. >> i'm nervous sitting next to you. it it was march 18th, 2020, that we were together so a year and a half since the three of us have been together. it is great to have you back the first time tim and i have seen each other in that amount of time. how do you navigate this people get honest, it is amazing the vitriol we got last week

we're trying to help people navigate the waters. i have no skin in the game in terms of amc i don't understand it necessarily, but we're trying to point out, if you think there is fundamentals behind this, think again. the ceo warned you a week or so ago. when things might have never been better, cinemas topped out at $40 and spent the rest five years going lower. nothing has changed. as a patter of fact it is gotten worse. just understand what you're doing here. >> brian, get to see you i believe you said planet of the amc's earlier. the point that we made on friday and i want to make my point clear right now, which is that to the extent that this is a company that has had a structural break down or whatever guy said was going on in the theater space, what is going on around amc might be something different. also made it clear to say that no one, i think, is endorsing

naked short selling and in fact i think institutional investors and retail investors and regulators are aligned on that issue. there is no question about it. to the extent that has that been a fundamental part of the amc story, i don't think so. i think the story is one where you see a change at top with a broken company where there is a lot of momentum behind what is going on there and add that to a short interest and enormous support and momentum in retail both in boards or whatever you have it and people are starting to question whether they could add more life. doesn't change it for me i don't think their a stock i want to chase. i don't think they are a stock i wanted to chase $30 ago. maybe i had, but ultimately again this is a case where i think the stocks in the entire space as we started the show talking about the broader momentum, look, i look across what are my high market cap -- high multiple screens that i have every day, and whether it

is a peloton or a zoom, a lot of those things draft kings which i own and i think seeing those things rally tells me more about the market's comfort with where the fed is, where liquidity is and there is a put to this market. >> and getting into the weeds and when you say naked short selling that is a term of law. there is regulation around this. we'll get to karen and jeff in a second because karen did something cool to talk about but just very quickly, guy, without going too deep in it here is the thing about naked short selling. you could give the impression of naked short selling, having more stocks sold short than is publicly available or owned. delta, synthetic shorts and it is not like 20 years ago that is heavily shorted, let's go after this be careful because there is a lot of ways, right, that wall street could do things that we don't necessarily see. >> without question. i think warren buffett said that

derivatives were weapons of mass destruction or paraphrasing but when used that way to lever a short position and away from the traditional way of doing it, we talk about float and in the environment you just talked about, float doesn't matter because these things are levered four or five or ten times. which i'm not privy to archegos, but one could surmise that may have they have derivative positions. >> they did. i could confirm that right now and you know the derivatives position and a lot of the stuff that we talk about was part of the reason get to karen in a moment jeff, i do want to ask you this, with amc, people are making money and that is great. the average analyst price target is $5.11 there are eight analysts, i think b of a dropped out on friday is this a situation where the sell side community, they just need to drop coverage. if your price target is $5 and

it is $55, does wall street need to make some other adjustments here >> i don't know, brian i think it is almost their responsibility to step in and lay out the fundamental case as they see it. i mean, that is their job. so regardless of what is going on and fundamental sort of never matters in the near term now they're just not mattering for a different reason but i think it is their job to step in and tell people what they think and are seeing from a fundamental perspective and it is our job to highlight the risk of what is going on in the market we're all adults we're not telling anybody what to do with their money but there are massive risks here and you can't tell me that there aren't. ask the folks that bought amc at $20 and sold it at $5. they're not doing that great and the last point, it goes back to twitter and the conversations going on from my perspective, this is not hedge funds versus retail or institutions versus retail, all they're trying to do is make money. there is no secret back room where they're sitting around

with some big conspiracy theory, that is not reality and i hope people understand that. >> that is well said but this show is all about telling people what to do with their money. >> oddly enough. >> i will say that let's move on. karen, because you did something really cool for our viewers today. because there is all of this, we talk about short selling, we talk about float you tried to, i guess short or maybe did short some shares of amc, you made some calls, tell us about what you did today and more importantly what you found out? >> okay, so i did not try to short amc or gme, but what i did want to do and what i did do is find out from a couple -- the goldman's, the jp morgans of the world, is there stock available borrow to be able to short the whole thing about shorting is that someone doesn't have a borrow and so i wanted to find out, is that really the case can you not get a borrow and i

suspected that those kinds of firms would say, yeah, look, it is a really tight borrow and as a fortune, you have to pay a ton in interest to borrow it but it was not that at all. gme and amc easy the price to borrow 60 basis points a year, near nothing. the price for amc, 7% per year which given the volatility that this stock trades with is nothing, right it trades well more than that moved way more than that just today alone. so that tells me the reason that the borrow isn't expensive is because there is not that many people who want to borrow and short it you don't need to take the risk of being a naked shorter when you could easily just go barrow it from a brokerage firm so i kind of -- to me that debunks the whole naked short theory i'm sure it will be added. but i don't get the whole thing either i'm sure if you're a sophisticated option trader

there is money to be made, given the volatility, but for me just a value investor, this is so -- it is so divorced from any kind of valuation metric that i would ever use it could trade at any price. so for me, i'm just going to stay away. it is too dangerous. i don't need to get it i don't need to play. >> consensus at $5.10 but they're only wrong. >> but would it be right for an ault because it moved to $56 to upgrade the stock to $35 i think it shows resolve to stand in the pocket and keep a $5 price target on a stock that is $50 bucks if your fundamental view hasn't changes. and karen is talking about valuation and her approach and her discipline, i think that is what this comes down to. a lot of folks don't follow this discipline that is fine that is very profitable. but to make an analyst make a

call on a stock, especially a sector specific analyst, that foes the balance and the income statement and the headwinds or tail winds, that is a -- >> does that tell you that the short game on these names is over. >> that narrative it debunked. we tried to point it out a number of times. and rich greenfield came on the show a week or so ago and talked about a billion and a half shares trading over the course of three to four days and you could have covered shorts but it doesn't fit the narrative that is out there i will tell you that this move is not a short squeeze in the true sense that we talk about it, there are other things going on, to your point about archegos, i think there are derivative books out there on the verge of going up and i think our next guest might point out why that might be dellitarious. >> he does warn that the wild swings that we're seeing in some

of the types of stocks may signal a cruel, cruel summer. >> banana rama, see what we do there. >> the chief equity strategist, a fan of the movie "karate kid" and can you connect the dots between 10 or 15 stocks an the macromarket? >> you actually can. but first thing i want to say is it is great to see the three of you back on set together obviously referencing classic rock and i'm looking forward to playing sports trivia with you all when it is time to take guests again >> bring it on. >> so you in fact actually can connect the dots here. if you go back to january, we saw massive levels of speculation, obviously the stock that is the current superstar of this meme stocks right now was not the same one back in january we all know what it was. but what you saw was just

incredible froth in the options market, option volatility of a thousand percent, and in this case going back to the end of last week. option volatility is closer to 1500% which really said something in a market that there has been no other clear leadership for the last two months and market that where we still believe there is some concern with inflation that the fed is not properly addressing and frankly looking at the number of bears on the latest sentiment survey, which hasn't been this low since right before vol-magedden and if the music stops in the meme stocks it could like february and march cause for volatility until the broader market. >> it comes down to the fed and interest rate. we're hit over the head by janet yellen and others saying guess

what, rates will rise and go up and she said today that is not a bad thing. when rates go up, to quote the movie margin call, does the music stop or just slow down >> on balance, it is not a bad thing. but we really have to manage this very precisely. in a lot of ways if you look at the last couple of months, and we're almost glad to see the dialogue turning here, chair powell has been very, very sort of shrugging off the fact that you have these very, very high reading and the fact that the economic data leads you to not be able to truly forecast whether inflationis transitory or is becoming more embedded so what we would say in an economy growing 6, 7 or 8% this year and looks set to grow at 3% to 4% next year, it is the right time to start pulling back from monetary accommodation it is the right way before we make the mistake of letting

inflation get too embedded and if we move in that direction, the market could have a knee-jerk sell-off which is a buying opportunity. >> julian, let me call you cobra kai. we are a case where you're bullish financials and energy. is that even in the context of the world where this inflation dynamic and the fed and rates, can we ride through this because there is fundamental arguments about energy i certainly believe that the entire sector is different than it was five years ago in terms of how the companies are investing and operating for shareholders, not necessarily for growth at all costs. >> no, no question, tim. it is a different environment. and you could argue that part of the thesis to buy time in terms of managing the hydrocarbon business to diversify into other lines of more sustainable business, that makes sense with regard to an electric future but for us, the fact is that

this is a hydrocarbon economy for the next five, call it ten years, maybe longer, and in an environment where there has been massive underinvestment here and if you look at it in the s&p 500, these stocks, energy represent 3% of the way for the s&p 500 versus a longer term average which granted may not make as much sense, but that number is more like 9% so, could energy go from 3% to 4% or to 6% with the tape staying roughly at 4200 on the s&p 500? absolutely you do those numbers, that is a gain in energy of anywhere from 33 to 100%, we think it is entirely possible. >> wow and by the way, cheap tease, i'm at an in person oil and gas conference in huouston in a couple of days julian emanuel, thank you very much i want to expand this conversation and karen if you could see

output where you are, but i want to throw something up. because in 1999. i was standing below where we are and talk about commerce one and icge and cgi and pet stock and there is two and a quarters with fraction trades, i want to bring up this cover and serge if you're watching, i hope i made your life better the other day he was doing something with his daughter and everybody started tweeting at him. that is april of 1998 and if you're on the radio it said a bunch of kids are tormenting wall street about the rise of day traders and they're going to take on the big shops. and karen, we all remember that period and here is the thing. it sounds like julian is kind of connecting these dots but i will say this, when that cover came out it was only another two years, two long years before things really rolled over. history may not always be the same but it descend z tend to rhyme. do you see any connection to the

late '90s? >> definitely see a connection to the late '90s we have other metrics at time. how many eyeballs a site had and i never knew if i had one or two eyeballs but it didn't translate to any kind of revenue or anything so i mean, there was just euphoria and a definitely a giant fomo so markets move quickly now. so it was a two year or more bubble making then i think it happened a lot faster now. and you know you could make a case that some of the meme stocks will have value one day and they'll survive and have remade themselves. that could happen. but i just to me i can't get on board, all of a sudden jump on a bandwagon that i don't understand how the valuation works. if you're an option trader, okay, i get it but it is a same i didn't do it then. >> comment on that, jeff

are you worried like julian is. >> i'm not longer term i think there is evidence that the market is deteriorating some from an internal perspective, if you look at the number of stocks trading above the 50 day, that is starting to move lower. so i think there is evidence of some weakness but i think overall the bull market is still in tact. but i ado agree that you could see thein tex trade flat because you have a high percentage of market cap for rates so they drift higher so you want to be in the energies and the financials of the world going forward here. >> the lesson is that interest rates matter a lot and guess what rates are likely going up we have got a long way to go and coming up, we're going to take a bite out of apple the company announcing a host of new software and product updates after developers conference. we'll bring you the trade and the big headlines and a stock down five of the past six weeks. plus a big biotech bump. that is the after hours trade in

today's session, bio gen surged nearly 40% after the fda voted to approve a new alzheimer's drug we'll dig into that trade next when "fast money" returns right after this your broker, i've so. that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory fee. and we can monitor to see that we're on track. like schwab intelligent income. schwab! introducing schwab intelligent income. a simple, modern way to pay yourself from your portfolio. oh, that's cool... i mean, we don't have that. schwab. a modern approach to wealth management. hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee...

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welcome back to "fast money. major news out of the fda today on what could be a potential blockbuster alzheimer's treatment from bio gen stock soaring 38% on the news. let's get with it meg tirrell. >> not just a potential blockbuster but what some are calling potentially the biggest drug of all time this is the first new drug for alzheimer's approved in the u.s. in 18 years. and the first ever cleared to potentially slow the declines in memory and thinking clearly, associated with alzheimer's disease. now there are more than 6 million americans living with alzheimer's. and about 2 million who are in the early stages of the disease for this drug called -- was tested now on top of that, is the price tag. about $56,000 a year, by some estimates more than four times higher than what was expected. but the bio gen stock jumped so

much not because of the size of the market but because it wasn't clear which way the fda was going to go. the decision was hugely controversial with a number of doctors and even some who advised the fda saying that the medicine shouldn't be approved because there wasn't enough data to show that it actually works now what the fda did today was sort of create solution. something we see more in cancer drugs. it approves the drug under what is known as an accelerated pathway. based on the the fact that it clears plaque buildups in the brain. with the expectation that should lead to benefit with memory and cognition. but the fda is requiring bio gen to run a confirmatory trial showing the benefits after the drug is on the market. and i spoke today with bio gen ceo who said they have almost nine years to produce those results. mean while, a number of other stocks across biopharma are getting a boost from eli lilly, which has a similar drug in

investment to smaller players across the state, many seeing this a sign of increased flexibility toward the fda toward drugs brian, a toss back to bio gen. >> that is a great compliment. and doing great work on alzheimer's. giving home to a lot of families call me whatever you want. thank you very much, meg so let's trade that. guy, let's not lose sight of the fact that this is amazing news for those with family and friends suffering from alzheimer's. it is amazing news for bio gen there is probably other angles. >> it is the holy grail. and bio gen has had some fits and starts and this is obviously one of the many starts go back to march of 2016 and look at where it topped out at now this is awesome news but if they was the catalyst in terms of trading the stock, today was the day to get out i love bio gen, through the good

and bad times and their cfo is a georgetown classmate, with that said, the place to be is eli lilly, because that is the one within my opinion, just better pipeline, better valuation, and you trade lilly off of bio gen in my opinion. >> you're right. chasing something up 40%, what is kind of interesting for me is that even after a move like that, this is not like bio gen is expensive this is valued territory coming in if you look at the top handful of names in the bbt which is the biotech, that is what you're buying into. etf or other names so you're buying companies with great balance sheets that are almost value plays in the middle of that so look, i don't want to clas this story today but bio gen needed this kind of a shot as some of the other core pipelines are showing diminishing sales and i and i think that is not a valuation i'm scared of at all.

>> for the past 14 months we haven't talked about anything other than covid and there is a lot of bad things out there that the biotech firms are working on to make better we are just getting started here on "fast money." here is what is coming up next. ready for some updates apple unveiling a ton of new product and software changes at the developer conference but traders are biting into apple next. plus, houston, we have a bezos. the amazon ceo buckling up for a space trip with blue origin. asmoy"etthat and a lot more when "ft ne rurns stay restless, with the icon that does the same. the rx crafted by lexus. get 1.9% apr financing

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apple, unveiling some major updates to the software and in new damagets

at the worldwide developers conference today d let's get the details with josh lipton. >> the ios new version, the changes to facetime are worth highlighting so we saw some changes to various parts that would potentially bring it into competition with zoom. new features that would improve audio and video experiences for users. also facetime calls will be supported on android and windows devices through a browserch that is a first so one question for investors is what does that mean for zoom in the long run i message, receiving an update with new bells and whistles. even before this event, remember, mark zuckerberg saying he thought of apple as a rival because of i message and now you see apple offering additional social features there. the ipad receiving a software upgrade with new features dined to make that device more capable and useful like an improved multi-tasking system

the ipad like the ma benefiting as people studied at home over the last year. the question now becomes did apple do enough to keep that momentum going brian, back to you. >> thank you very much, josh jeff mills jump in here on apple stock down five on the past six weeks. do you buy stock on this news that josh just rolled out. >> listen, i think the stocks reaction after the last earnings call tells the tale. i was on the show that evening and we were all gushing over the earnings, they couldn't have been any better and the share price is the arbiter and the valuation now is a little bit too high and apple has returned over 900% x dividends so maybe it continues to lag for a little while. i think ultimately if you're a long-term investor like we are in the stock, there is still plenty of long-term upside it might not be market outperforming upside at least for the near term. so we're not adding to the name but continuing to hold it.

>> it is funny, karen, for years, when people argued that apple never gets the valuation respect that it deserves and it traded ten times forward earnings and now it is at 24 and jeff said that is too expensive. where is the sweet spot for apple? >> well, i guess that ten times was when it was a hardware company which is a different multiple than the services business very similar thoughts as jeff. i mean, that price action on the great earnings call was disappointing. i'm long also. i'm going to be a little bit patient. i think some interestingstuff came out of the conference but i think the more -- to me the earnings coming up, i would like to see how the evolution continues, with 5g sales and the fortnight, we're going to see in august, we'll hear from the judge what happens there and what that means for services i think that is an important event, how to value that services especially if obviously if they have to take less. so i'm staying long.

i can't stand by it and say, wow, this is super cheap because it isn't it deserves a premium multiple, it has a premium multiple and i'm just going to stick with it. but it was disappointing the last quarter, the reaction, not the quarter itself. >> not enough to make you add to it you'll keep what you have, but not buying any more or pull back. >> right. >> guy. >> i think it is at the 113 to the 115 level. it is interesting, now that it trades with a growth valuation and jeff was there and tim was there and we were surprised that earnings release the stock was trading 138 and we collectively said this is interesting price action but you mentioned down five out of six weeks three good days an it is right back to all-time highs. >> the 121 level important for the stock. but who knows, because $220 billion in cash and a few other levers they have to pull, there is reasons why this is as

solid as dare as i say bulletproof of a company and while we pulled forward a ton in terms of holiday spending and the laptops and the kids staying at home and new ipads and what not, i think this 5g refresh that is going on out there is something that we still haven't really come to proper terms with and i think it will continue to drive the stock. >> think about this, guys, the apple services revenue is probably going to be close could $60 billion soon facebook total revenue is $85, $90. apple's second business, their back-up business is bigger than most s&p 500 companies sales it is opportunitying how big it is tucked into another company. >> and with a healthy growth rate and again that is really, i think the number here. so people are always waiting for apple to make that big acquisition and we might be waiting a long time because they

found a way to become vital in the world of the services business. >> dare we say, could they guy adami, could they spin off services >> no, why >> if they get whacked on the epic games fortnight case that karen was talking about and the stock valuation and the services are hidden away. >> they belong together. that is why it works. >> chevron spun out of -- i think it was chevron spun out cmx and mcdonald's spun out and they rue the day what tim rue the day. >> sorry, i'm slow. >> you'll rue the day. >> i didn't think you were calling me on that one. >> you're not ready on that one. coming up, good discussion there on apple we have more after hours action in shares of stitch fix. the stock ripping higher on the the back of results. we'll bring you all of those details, not some of them, all of them. plus peloton moving higher

today and we'll tell you what is behind the big move. everybody said work from home and stay at home was dead. don't tell that to peloton shareholders they've been making money. we're ba rhtft ts.ckig aerhi ♪ irresistibly delicious. ♪ ♪ pour some almond breeze. ♪ ♪ for the maestros of the creamiest-ever, ♪ ♪ must-have smoothies. ♪ ♪ it's irresistibly delicious. ♪ ♪ more almond breeze, please! ♪

welcome back to "fast money. we've got an earnings alert on another stock moving in a big way after hours. stitch fix stock is up 15% on results let's find out what they did christina with all of the details. >> thank you, brian. well the stitch fix is no different. up 15% the high company reported narrower than expected q3 loss of 18 cents versus the expected loss of 27 cents so that was an upside and net revenue was higher than expected at $538 million but that is 44% higher than last year. positive reaction could be in part also to stitch fix increasing active clients in q3 to a total of about 4.1 million and that is up 20% year over year and these are clients that bought on item directly from the website. why are we seeing this improve consumers, women are shift ago

way from lounge wear maybe time to say good-bye to the jogging pants as women are snapping up mini skirts and rom pers vacation outfits are in demand suggesting people are ready to take the long awaited trip and on the call they said they feel well positioned to take advantage of this shift in shopping habits which is buying more online and increased demand for personalized experiences you see large after hour moves, stock up well over 15% back to you. >> christina, thank you very much let's trade that, karen. it is not just getting out, but people want to look good a lot of people have -- they've worked out or not, whatever it is -- >> you look great by the way do you want to tell the audience, i don't mean to interrupt. >> now he has to. >> down the 35 handle. that is good for you you look so good. >> thank you >> you're welcome. >> down 40 pounds. i was 50 pounds too heavy was the problem.

they're embarrassing me now. karen, the point is so guys like me got to buy new clothes, so is this a reason to own stitch fix? >> well, stitch fix is more focused on women but i think that the theory applies to -- we saw n interesting statistic from ll bean which is more inquiries about pants with buttons or zippers than draw string or elastic which was a big change during the pandemic. so people want to go out and good for stitch fix and the retch and the guidance was great and the stock after hours is up over 50% in the last month this does by the way have a short interest of it about 20%, though it is free to borrow. i did check on that as well. good for them, it is way tough

year and they're coming through great and i think there will be more momentum but i feel like a lot is already priced into the stock at this level. >> i hear you, karen and we have a case that we know the multiple is one that priced to sales revenue multiple and it doesn't make any sense, the company is losing money. this is a company that is only guiding growth to 21% in the next 12 months and i realize that guy is now -- guy, no more draw strings, pal. >> i was using the elastic waist band i'm not going to lie. >> it has a lot of give to it. but the multiple on the stock makes this after hours market move that much more dramatic and not one i'm chasing. >> guy >> let's turn now to our call of the day. check out peloton. that stock moving higher after loop capital slapped a buy rating on peloton into the recent treadmill recall will have a limited impact on the

company. jeff mills, everybody said everybody is going back to the gym and the stay at home stocks are toast and peloton has been red hot. >> it has been but i still think the valuation is maybe a little bit stretched even though we've seen a pullback here. you have to think that growth rates continue to fade a little bit. i mean gyms are reopening and it is clear people are going back to the office, at least in some capacity i don't think home fitness in that growth there is going away. i just think that the reopening hurts a little bit there is a lot of competition. tonal and you have beach body and mirror and a long list and this stock is still very expensive so you have really high growth and multiple names, it is just not where i want to be right now. >> not wherer wants to be but 6.5% move up some people disagree coming up, is it a bird or a plane? it is jeff bezos in the sky. amazon ceo is heading to space next month

we have got all of the details on that trip coming up plus the oil and gas trade powering up, crude crossing the highest level in more than two years. traders fuelling up and how you could still make money in oil's big move we'll talk about that and vemo we're back right after this. you need a financial plan that fits the way you want to live in retirement. a plan that can help grow and protect your money - now or in the future. with an annuity in your plan to help cover essential expenses, you'll have the freedom to live the retirement you want. this is what an annuity can do. find the right financial professional to show you how. learn more at protectedincome.org.

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welcome back to "fast money. some really cool out of this world news from jeff bezos today. the billionaire saying he will take part, himself, in blue origins first human space flight next month a flight will come just weeks after bezos steps down as amazon ceo. what board is going to let him go up in space if you're the ceo. that vote of confidence for civilian space virgin galactic rising 10.5% tim, you're take. >> exciting first of all i appreciate the dedicate to science and the cutting-edge here i think the fact that these stocks are doing what they're doing goes back to our first segment of the show tonight. i think that the frothiness around some of these stocks that really are never going to make money any time soon and are trading on the type of the

headlines is part of themarket that we're in. >> he's going up in space. and so virgin galactic, this is proof one of the smartest businessman of our generation is endorsing it literally with his life. >> yeah, clearly. >> he's going up. >> not getting me up there and i've said it a number of times, you play this people that you make bow vive and drama mean and good for grasso steadfast in his love of spce i take the money and i point out that amazon, the stock, has now been trading sideways literally since september. >> july. >> i'll even give you july >> along with apple, and amazon, not performing, the money has to go somewhere coming up, we're going to be digging into the oil trade because crude oil is at the highest level in more than two

years. what does that mean for the oil stocks which are already on fire is it time to dump them or buy more all of that and more we're back right after this. >> miss a most of "fast," subscribe to the "fast money" podcast. ♪ ♪ ♪ ♪ ♪ ♪ no one likes to choose between safe or sporty. modern or reliable. we want both - we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences

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all right, let's give you a sneak peek, a little taste of the cramer cam he's speaking with the ceo of t-mobile catch that at the top of hour on "mad money." meantime, check out crude oil. soaring, briefly above $70 a barrel many oil stocks surging as well. let's trade this do you think oil stocks are undervalued or oil is over valued and will come do you know because there is a big gap. >> and relative to i think how they're running their business as i said earlier with julian emanuel, i think these are different companies than investing. when i say about commodities, you don't buy them when they're chief, you buy them when their expensive. look at the momentum here, where we are with commodities outside of where we are going into the financial crisis. >> i'm not saying that is where

we're going with this. we're back to early 70s in terms of commodity prices overall. this doesn't happen overnight and it doesn't end overnight and i think until the fed really puts the boot on what is going on that we talk about all of the time, i think oil could run higher and again the paying trade is is it runs higher and that could include airlines whose hedges are not what they are used to be you saw this at the eog in the last quarter, some of the energy names and i know you know this, brian, these guys were hedged out where they are not necessarily collecting the wind fall that it appears. >> extent point about the balance sheet. a lot of the debt has been scrubbed off if you bring up a ten year chart and tom lee, this is his chart and he's done great work on it if you bring up oil versus the xop or the xle or the oih, when oil was at 70, where it is now, the price of these names was 10

or 15, $20 higher than they are now. so to tim's point, to tom lee's point, something is mispriced here >> yeah, i think there is a catch-up to be had in energy stocks if you look at the way things are trading around energy, the stocks pause for about three months but they continued to tighten throughout that period of time and now you have 95% of energy fames trading above the 50-day moving average. so there is a lot of momentum. i think the xle holding 47 was important. but how you get exposure is important and energy is top heavy and i think the best charts are away from those big three. >> we're showing -- guy, look at the chart. the white line is the price of oil and for the first time in ten years the price of oil on a relative basis is higher than the stocks. >> i'm looking at it you don't have to tell me twice and i see it and i happen to agree with you, karen and tim

and jeff and i do think energy stocks will catch up and we mentioned phillips 66 and 92 close today and highest in many, many years i think it will ratchet up to 110 and you'll see analysts have to raise their numbers i think there is a jp morgan energy conference coming up. >> great, 110 in oil. >> no, the stock >> guy adami calling for a buck ten oil. karen finerman, look at the chart, karen >> i can't i can't see it actually. >> it is an other line and a white line and the white line is above the orange line. >> okay. given that, guy thanks for saying i've been bullish, i've been under weight energy i look at energy being in con tango and i think this -- the near term price may we'll see continue or not but if i had to increase my exposure i would do it through the oih or ohx or if

you want other parts of drilling and production, then i would do the osx. but i've been underweight. >> maybe that is all changing. let's bring in mike khouw for a look at interesting options activity in one of the big energy names mike, what caught your eye today? >> i was taking a look at conoco-phillips, trading at 1.8 times the average daily put volume and what caught me eye was the 58.5, 58 put spread that the stock would give back 3% and the other was the sale of the august 55 puts so i don't think this is bearish, just a bet on a small pullback by week's end. >> thank you very much. >> and for more "options action" tune in to the full show on friday we have to tell you this 5:30 p.m. eastern time up next, your final trades

it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ woo! you are busy... working, parenting, problem solving. at new chapter vitamins we've been busy too... innovating, sourcing organic ingredients, testing them and fermenting. fermenting? yeah like kombucha or yogurt. and we formulate everything so your body can really truly absorb the natural goodness. that's what we do, so you can do you. new chapter wellness, well done.

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>> jeff. >> short reits. >> karen >> had to sell a little lilly today. >> and blackstone all-time high today. >> blackstone. >> there you go. that was a fast final trade. thanks for watching "fast money. "mad money" 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 is not just to entertain but teach you. call me or tweet me @jimcramer it was a dream today being back downtown again there was so