live to the nasdaq markets overlooking new york city's times square this is "fast money. guy dhami, dan nathan and tim seymour -- he's there. action shows netflix, chipotle and united airlines. plus a crypto collapse, bitcoin breaking below 30,000. it is now on the brink of giving up all of its gains this year. we'll tell you about this crypto carnage.

and later, it's a wash a breakdown of reporting results tomorrow after the bell. we start off with a tuesday turnaround as it starts to rally in a big way doed. the s&p 500 with all the year's big losses led by materials and financials. the stocks rally the bottom market found some footing. the 10-year yield breaking a four-year losing streak, but today's rally felt more panicked in yesterday's selloff why, dan >> we were talking about this last night we said selling actually took pressure off the lows. it felt like they could really break there. but when you see this sort of broad strength you had today, at least in the equity market, you say to yourself, wow, that really felt like a panic and what happens to all those fears that caused what i thought was a very healthy selloff i'll just make two points. you mentioned yields

i think up 70 bips from those lows, or 7 bips, excuse me that may look kind of dramatic it's not, really i think we have to remember that 10-year treasury yield is up 1.15 about ten hours ago or so so that's not particularly great, in my opinion and crude oil which got destroyed yesterday, also not a great rally here i'll just remind everybody that the s&p, and the nasdaq and the crude and the yields are still on downtrends here we have a sharp kind of bounce let's see how this plays out over the course of the week. i think we see lower lows. >> guy, are you in the same camp as dan, or does this make you think yesterday's selloff wasn't fueled, really, by delta variant, or today's gains are just sort of flimsy? >> it's interesting. my senior year in high school during the kennedy -- when he was campaigning for president, the big song we're all listening to is "what a difference a day

makes. i don't think today made all that much different. 5235 was the high yesterday. it bounced off the average in terms of the s&p i'm with dan on this one today feels more panicked than yesterday, and i think it will exhaust itself i think we actually might have put in a low for 10-year yields. this reversal was very powerful in the tlt it's going to be a big volume and interesting to bawatch over the next couple days my sense is we'll see that move again, probably not this week but next week. >> we won't break it, is what you're saying? we'll simply bounce off of that? >> no, i think we will break it. i'm with dan on that i think this week you might see more giddy-up to the ocupside, u i'm not convinced that yesterday's low was the low for the future >> so if we did a break, that

would be a continuation for the markets in a selloff >> it would be the concept that the delta variant is a bigger issue. i'm leaving aside all social commentary here but just talking about a market statement and what it means. and it doesn't i think what we've digested here is what an economy looks like when it's reopening. the risk to me is, look, that the economy comes back, that we will have strength in the fall, we will have strength in the fourth quarter, and that the risk is the services part of the labor force has trouble coming back, the inflationary forces we were very concerned about. but all of this, i think, paint a very strong picture for equities, that you have a fed that now has the excuse of delta variants pho move slower what opec did two days ago was absolutely the right thing for the oil price, because again, they are well a wware of the

inflationary impact. they thought it was bad to have variants and an inflationary increase if we're not hearing about energy prices and can get $60 to $70, that's great overall. i agree with you because i want to be talking about a 10-year 175 and listening to all the people that are complaining about that and that actually we're going to 2% and look out that's really what i think is the scenario that -- i'm not saying that's the probabilit scenario, i'm saying that's the scenario that i think you have a much, much stronger argument but either way, what came back today, anything that was cyclical, anything that would be having a great time at 175 was having a great time at 125 in the 10-year and then higher. >> so, karen, for a person who tuned out of the markets on friday and came back today, you might think we just stood at a standstill we're a few basis points loiwer on the s&p 500, a few basis

points lower on the 10-year yield. how do you interpret damage to the markets, or how are you feeling with market sentiment given what actually transpired yesterday and today? >> you know, we think of the market as this monolithic thing, the market in the s&p 500. if i look at some of the sectors, like financials, that was a pretty dramatic move, not just yesterday and today, but to the week leading up to that. that's had a pretty big move down way bigger than the 2 or 3% that the s&p was off at its lows yesterday. so there was that. there was the energy which the guys talked about which, of course, was a very, very dramatic move. some of the industrials. those all seemed overdone to the down side. i always say when things start trading in integers, i don't

think a lot has changed from yesterday morning to today, that doesn't make sense to me i just feel like it was kind of panicky yesterday. maybe dan is right, panicky today to the other side. i'm still looking for value, and we are in earnings season right now. so the thing i like to use most to paid valuation on we'll be getting more info on i don't know, i don't get too worked up over it. i didn't do a lot of buying, i did no selling, i didn't do a lot of buying at all i just kind of watched -- i want to see what companies report next week we have very big fang earnings, so we'll see what the actual data tells us from companies. >> and you almost sort of wish that earnings season were a couple weeks delayed or something to see the company commentary after a couple more weeks of delta variant spread, not to say that it's going to get worse, but even to see if it's better. chipotle ceo, and we'll talk

about chipotle's earnings results. we talked about no impact on far in the dining room no impact so far because of dell have variant but it's really early days in terms of this uptick in cases. it's great that we have earnings sea season do you think we'll get enough of an uptick? they're not talking about it so i'm good with it so far. i'm good with what they're trading. >> it will be interesting to see if we'll see it in the commentary or if they'll sort of look past it i think karen makes a great point. my sense is there are certain companies that absolutely bring it up. again, maybe it's a form of air cover. we will see. i thought the last two days were fascinating, flushed a lot of things out again, i will say that -- it's all about the move in yields, it's all about the move in the dollar, and you might have finally seen a capitulatory mov on the downside. with that said, i'm not sure what that means for equities you can make a compelling case

that that's bullish. i think if we do go back to the 175 level, it might go on the heels of the fangs dan has been talking about for quite some time >> if you go below 1, dan, the market is not going to like it, either, is my guess. >> yes, like a lot of investors, the pain was clear on rates, and they didn't know what to do with it i think it's important to remember when it was going up in the first part of the year -- we call them f maggot year. you keep calling them fang, but we call it f maggot year those are nearly $10 million in the market cap they are nearly half of the nasdaq 100 i just think the breakdown we saw in the last few weeks, amazon played a little catch-up. those breakouts failed that doesn't mean they can't

re-break out again, but the bar has been raised dramatically for all of those names, and we talked about the rotation. we talked about the underperformance in csmall caps and a lot of these sectors in the last few months. that's where we've had a correction, but it is wholly unnatural that five or six stocks can keep these massive indices levitating despite what's going on under the hood and despite what you say about rates. right now rates are telling investors something, at least in the stock market, that they don't want to hear, they're ignoring, and that's what was reflected monday i just don't believe you can reverse that sentiment in the next 24 hours. >> i get that, but if rates are telling a story that there is going to be economic trouble ahead or the delta variant will have an impact, isn't that the exact cocktail that they hire during the pandemic? isn't that the exact scenario that would, in fact, get them to be still the leadership in the market,

still. >> but we're that much further along now, and what all those companies -- investors are now starting to price in de decelerating 2021 and what 2022 looks like remember, doug miller said that black hole we were in last february, march, april, we came out of that pretty clearly and we know what the pandemic winners are. but the pandemic winners in the stock market, that doesn't mean they're going to be the same in the back half of this year, and as we come out of this but just, again, what are the rates telling us the rates have been telling us since late march that second half growth projections were too high that's it. they're telling you that this inflation thing everybody is yelling about isn't going to be this thing that everybody thinks it's going to be to me it all makes sense i think the only thing that doesn't make sense right here is the s&p 500 and the nasdaq 100 the one-time market bull is

not sounding all that clear. juliani, investment strategist what do you make of the last few days >> the last few days, whether you're a stock investor or bond investor, there is never going to be a time that proves it, whether you're thinking about protecting the down side or trying to control your emotions in some of these stocks that have run a long way and look like they could run further to prevent fomo from our point of view, the market is responding to the climb-down in yields with a delay the same way it did probably before the pandemic, i think, is the right way. but clearly the science has moved much further, the threat is not there to anywhere the degree it was this time last february or so, let's say, and

the expectation is that we are going to have yields turn back higher, the economy is going to reopen, obviously not with perhaps the vigor that was expected several weeks ago, but it's going to happen nonetheless. and so to us what we're looking for is stabilization in the cyclical plays today's action in that respect was good, but we also think, like we've talked about a little bit a few moments ago, that you may have some trouble if yields turn around in terms of the reaction from technology stocks, which have really carried the load for the last several months >> so yesterday was a blip >> the market is just much less certain, and if you think about it, we're not going to have a

good idea of what exact ly the delta variant means when schools start to reopen. we'll have it in the next several weeks, but it isn't going to happen in ernest until after labor day when, in theory, the labor force comes back and normalizes that situation. so there is this uncertainty overhang that to us says you're going to have this kind of trading for quite some time and negative news of whatever we might get is likely to set the market back within that context. >> it's interesting, julian, because it sounds like there are a lot of unknowns in your view, and rightly so there is so much about this disease that we're learning as we go, basically, and the effect of vaccines with this new variant, and saying not until after labor day, not until after schools open, et cetera, et cetera, but you're overall bullish, still, to the end of the year you want to go back into cyclicals. how do you reconcile that, because the risk reward sounds

pretty balanced unless you really believe the variant is not going to be an issue >> that's right, that's right. so from our point of view, the near term looks problematic, okay when i say problematic, we're expecting a test of 4,000 between now and the end of the quarter. but there is no denying we have put into motion the seeds of a very long-lasting, vigorous economic recovery, and we measure that by the isms when you have seen isms over 60 as we had that really started the year, the long-term message is that the bull market is going to top two years out in front of us and that you're not likely to have a recession for almost three years, and when we think about it, we could see over the next 24 months a further advance on the order of 30% to 50% >> wow julian, thank you so much. good to see you.

>> thank you >> julianne emanuel still go into oil trades, into material trades? >> i do think we're at a place where the economic strength very much belies what the stocks have done the last few weeks. my view is we're way overthinking this one. until the fed starts tapering, you're buying equities, and there is absolutely no sign that the fed is going to change gears any time soon. the delta variance gives them ground cover i understand we're look ing at the global growth dynamic. i understand we're looking at the climate yields of maybe being a harbinger of something more sinister. i tend to not get overrighteous on the market breadth. if we're talking about investors, there is a lot of

liquidity splashing around i think the basic mentality is you're buying every dip, but until something happens, that's what they're going to do it's all about liquidity i do think earnings are going to be extremely strong in the second quarter, and based upon the strength of those that outperformed the first quarter, you'll see the numbers in the second quarter be even better. >> i think that's an interesting observation in sort of a p perverse silver lining in the uptick of cases overall that it gives the fed cover not to do anything, to keep things status quo. which would be good for the markets, except to dan's point we have come a long way in terms of the pandemic in terms of where the markets are. how do you put those two things together >> i think tim makes a great point. obviously the move down in yields has given a lot of cover for a lot of different things. i will say this. this will shine a different light on this thing. the united states is still the basic economy on the planet last i looked

i would submit maybe correctly, incorrectly, the 10-year yields which should be the most liquid asset to the planet should not, in my opinion, move 5, 6, 8 basis points a day within hours. it's mind-boggling to me the volatility we're seeing in the 10-year yields that was the precursor to equity volatility bond volatility to me is too severe, and i think it will enlargen in equity volatility at some point let's go mto meg with news details. a study looked at antibody levels of the j&j vaccine and compared that with moderna vaccines and suggested that the j&j single shot vaccine may lose efficacy against the delta variant, at least against infection. again, this has not been peer

reviewed, and it also goes against the company's own studies which suggest that the vaccine should hold up against the delta variant. but the authors of this nyu study suggest that this means a booster dose for the j&j vaccine either of another j&j shot or of the pfizer or moderna vaccines, maybe something important to consider johnson & johnson giving us a statement tonight saying there are additional things to look at, including the t-cell response that this doesn't take into consideration also note company data demonstrated the j&j vaccine demonstrated strong persistent volatility against the delta variant. melissa, of course, 13 million americans have received the j&j shot there will be a question of whether they need booster shots, as there already have been >> mel, 13 million americans of the j&j vaccine compared to ballpark estimate on the pfizer

and moderna. >> a total 60 million people vaccinated in the u.s., so 13 million who got the j&j shot, yeah, a vast majority. >> mel, thank you. it is worth noting johnson & johnson disputes that study which is not peer review, just to underscore that, karen, but still, there are a lot of concerns these days. you see places like los angeles reinstate some mask mandates so it does feel like there is some uncertainty out there at this moment in time which comes to this variant, which can't be good for markets >> it can't be good, but i don't know how bad it will be. i think this is very different than where we were prior to november of last year where we had no vaccine, right? so we know that we do have a way to materially help this situation if it gets worse what we're seeing is that it's more -- for those who are

unvaccinated, this is more of an issue. perhaps that moves the needle and makes more people inclined to get the vaccination, i don't know but i don't think it presents the threat anywhere remotely close to the threat we saw before so i think we will look back on this as somewhat of a blip, and i don't think that this sort of ruins the recovery, which i still think will be strong coming up, we've got earnings alerts on chipotle, united airlines and netflix. we'll break down how our traders are playing these names. plus, bitcoin collapses more than $30 million "fast money" returns after this. . it's okay, you can stare. when you're a two-time gold medalist,

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welcome back to "fast money. we've got earnings alerts on chipotle, netflix and united airlines phil lebeau is here to break things down. we kick things off with kate rogers on chipotle >> this second quarter for chipotle, revenues right in line for the quarter. restaurant margins 24.5% nearly

double what they were this quarter last year, at its highest level since q15. no promotions taking place during the quarter digital pickup orders, which are the company's highest margin of sales, are also gaining traction chipotle also held on to about 80% of digital gains even as in-person dining increased on the call they said the business has increased about 70% of in-store sales and its loyalty program now has 23 million members. smoked brisket has now passed the company's stage gate process for testing, and despite ongoing uncertainty for covid, they are expected to increase low to mid-double digital range in q3 the company hired thousands of workers at its career day which took place last week

melissa, back over to you. >> kate rogers, thank you. if you had to pick two words to characterize this chipotle quarter, dan, what would they be >> it's burrito blowout. weaver been talking about this seemingly forever, and kudos to raymond james which on june 13, when the some was trading at 1300, they waivered with a strong buy they're growing into the valuation. this is a great quarter. if you want to nitpick, which i'm really not sure what that is i think you buy nitpickers in the acme or something, it would be in terms of operating margins. came in a little light at 13%, but there is really a lot to like here and i think the stock can continue to grind higher >> this is one of the winners out of the pandemic, so if there is any sort of delta variant up tick, i don't know if that would really impact this stock which really did well digitally

without people in their dining room >> i know this company is expected to grow earnings 25%-plus and sales about 13% with margins improving each year, expected to improve. so the valuation is always going to be tough, but those are the sorts of trends you want to see. this is not the sort of stock that i would get rid of. i had this massive, massive run back in may. i think guy had mcdonald's as a massive trade there. all the trend that are better than chipotle benefits mcdonald's i'd rather play that as a breakout hey, phil. >> united coming in line with expectations, posting a q3 loss of 9 -- $3.91 a share.

that was roughly what most people were expecting, and you have capacity down 46% why do we mention capacity look at the increasing capacity for the third quarter. when you look at their guidance, it's going to be improving substantially, down to 26% they do say travel bookings are improving, though they aren't giving us exact metrics. expect that to come up on the conference call tomorrow most importantly, the market expects a pretext profit in capability, q3 as well as q4 if you look and wonder why are they a little bit lower after hours? one thing that might be impacting is if you look at their q3 stripping out fuel costs, profit sharing, a number of other special items, it's up 17% in the third quarter relative to the third quarter of 2019 so there are higher costs that are going to be weighing just a little bit on united in the

third quarter. don't forget, tomorrow morning on "squawk box," an exclusive with scott kirby most importantly, what impact, if any, is united seeing because of the delta variant spreading around the country we heard from delta last week. it said it's not seeing any impact let's see what scott kirby has to say about that, as well as a number of other topics in terms of the outlook >> united's q3 casm ex-fuel is sizeable do we know what that is mostly is it labor, what is it? >> you have the 777 which they pulled out of service while they were doing work on the pranton-whitney engines, following the incident ove denver in q1 and q2.

you also have an emphasis on the domestics schedule you don't have as much long haul international as a result. that is going to drive up your cost a little bit. those are some of the factors that are there >> phil lebeau, thank you. tim seymour, where do you go with this trade? >> i think airlines look real interesting here i think this third quarter outlook also has to be conservative look at the trends we're seeing, and julia talked about what we're going to see what happens after everyone goes back post labor day and everyone thinks the covid variants could peak. look what the airlines have done with trading stocks. i'll call them that more than i'll call them investments and that's pre-covid united has come down almost $60. it's ridden the down momentum of the market but especially focused on growth. and, look, you can't expect the world to come back in september

and have the inflation i know this isn't a consensus view, but airlines are going to start to see the front of the bus recover. like every other cyclical sector in the last six weeks, i think we're at the bottom of that sentiment right now. airlines don't have any reason to be oversentimental here some are related to cost of cap capital, and i think that's something to be watched. ultimately a lot of the airlines are benefitting from also a relief in energy prices and i think that's something also they're not going to get much credit for in the short term >> karen >> it was interesting, they had an analyst day, i don't know, maybe two weeks ago. three weeks ago. feels like a lot of things have changed since then but if you think longer term, they sort of lay out how they can get to more profitability than they were pre-pandemic. that's interesting to me so i've been out of airlines for a long, long time.

i'm sort of inclined to look at them again i think this fear in the short term, as phil and tim said, they have high margin business that they're not getting right now, international travel, corporate travel that ultimately i think will come back so i will look again i think it's starting to get interesting. >> all right the earnings keep rolling in netflix is well off its after-hour lows after reporting a miss let's get to julia boorstin. julia? >> netflix's second quarter subscriber editions did exceed their own guidance, but the company guidance in the third quarter, that was 2 million short of analysts' expectations. and signs of market saturation in its biggest market in the u.s. and canada. the company actually lost 430,000 subscribers between q1 and q2 now, the stock did initially drop, but it turned around now it's in the green. and it's likely thanks for the

company explaining its plan for a new growth driver, and that is games. we view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted tv games will be included in members' netflix subscription at no additional cost similar to films and series initially we'll be primarily focused on games now that they're dedicated to original programming, now is the time to try games. ted seranos. they don't view the growth as impacting right now, melissa >> gene munster of netflix

you nitpicked on this quarter. >> nitpicked i think you really need to worry about the business and the stock. the business is doing real well, up 9%. the guidance was 9%. even with that guide down, it was still 9% this was with incredibly difficult copmps, so give them credit what that tells me, melissa, more people have gotten essentially hooked on netflix. it is a testimony of their great content, and i want to kind of stop that thought on business and switch to what i think is an important topic that julia brought up in terms of the stock and the growth piece to this ultimately that is a question for any tech company, how are you going to continue to grow? netflix needs to answer that in a more profound way because they would trade at about two times

multiple relative to the rest of fang i have some questions about this gaming opportunity when julia was talking about that and reading the quotes, it sounds really good, but ultimately for, i think, gaming to be successful, netflix needs to answer a question about their identity ultimately video to me is different than gaming. they put it both in the content category and i would ask this question. if you look at companies like electronic arts and take 2, are they going to be producing movies, and the answer is probably not >> do you have any sense that netflix would have to spend money on gaming content, or that they partnership with a developer of games how does this -- is this just another thing for netflix to spend money on >> unclear about what the initial approach is going to be. they're doing the interview right now and we'll see, i'm sure, some commentary about that i've asked myself the same question the comments that they have

leave it open-ended if they're going to come out with their original gaming content or that they will license gaming from other players. i think netflix, what they've done exceptionally well, is doing it with original content my guess is they may start with a catalog of video games similar to when they did in video with streaming and may involve that into their original gaming content. if they talk about a 10-year investment phase, it probably is around that building original gaining content. >> bottom line, gene, the business is great but it may not deserve a growth multiple at this stage in the game >> exactly effectively, nothing has changed. stocks went up 8% this year, i think it speaks to investors and what they think about the long-term growth rate. we'll all continue to enjoy netflix, however, i don't think investors will benefit appropriately. >> gene, good to speak with you. thank you.

>> thank you >> gene munster with ventures. dan, do you agree with gene? do you think gaming could be the growth vehicle for netflix >> i think it really comes down to how much they had to spend to do it. there is a lot to think about with the content and the amount. i think they were spending upwards of 15, 16, $17 billion julia just said they're spending $18 billion of original content this year. i don't know how you wouldn't build a gaming platform and do it, so i would suspect they make some acquiacquisitions it is literally the gamestay the last couple years. why don't they buy the movie theaters plus gamestop >> that's genius me all me

>> guy tommy, i have gains going. >> would you rather apple or netflix? wow. >> just on the back of that performance, i'm sure you have to stay with apple here. that's is ridiculous actually, before this time it was sort of the spring of last year. i will say one thing never bet against reed hastings. if he's getting in the game he sees opportunity number two, if you look under the hood, there are a lot of things you could sell this quarter in backup, and they're not, which is a bit of a tell. needs to get on that all-time

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we've got a bitcoin breakdown on our hands for the first time since june 2nd of last year. putting major pressure on bitcoin in recent days the largest unlock where 16,000

bitcoin took effect on monday. keep a close eye on things tomorrow we're going to hear from elon musk, jack dorsey and kathy wood, all three of them speaking together at the bitcoin conference if these twoie evangelists, dorsey and wood, can convince elon musk even an iota back to bitcoin or other crypto, that could have a major impact. >> it could. it's also really troubling for someone like that to be listening to the whims of everything some of the doubts around the ossi class, if you feel like they were bullying, i don't think anything has changed

especially with the currencies and all the dynamics around global digital payments and blockchain meanwhile, blockchain and other forms of analyzing and actually securing assets on a digital format is growing in foundation. bulls will also say look a at etherium. they still outperformed the s&p in the last year it's been a heroic fall from grace, but it's still, for a lot of the proponents, the type of volatility you should expect, and they would be very happy with the year-over-year results. t if you asked them, this is where they would be. >> karen, you own bitcoin, so i assume you believe the bull case is intact, and doesn't this just prove bitcoin is primarily traded on sentiment? >> yes i mean, what's involved in sentiment, though? i think everything sort of trades on sentiment. but i think the sentiment here

is there was sort of the fear of missing out for the institutions as it went up and up and up. i don't know if that's changed or if we're still going to see that money come in that's of interest to me but to the extent that bitcoin was seen as an inflation hedge and the fears of that inflation are dying, it would make sense that bitcoin would be dying down, or the need to own it. so i think that it's obviously a very, very volatile asset class. i'm long, i'm staying long every once in a while i take some money off the table i wouldn't be taking it off now. i have no idea where it could go some assets you think, wow, can't move more than 6%. this one, almost number you can move, but longer term, i think the story is still intact. i'm staying long up next we're trading. the peloton pop. the stock is up 5%

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qualtrics cam. peloton offering millions of its members free access to peloton's fitness classes. shares climbing more than 6% is that 6% efemerol, guy >> i don't know how to spell efemoral that day i remember it clear as day. it was an 89 million share day, the stock traded down to 81.5. we talked about it on the show we said this is the flush we were waiting for, capitulatory selling. here we're basically at a 50%

ret retracement. i'm thinking about going back to the low 100s >> dan, that's great for the company. that's just all margin there >> i think history will show you're not going to have millions of people signing up and using this thing that's just my guess i think there are a lot of alternatives, and i would say guy nailed it. at the time was the tread recall, the stock was going lower. you buy it in the mid-80s. it's rallied 50% since then. this thing looks like a textbook head and shoulders tops. you're playing for a retracement for some of that move from the lows makes some sense to me here coming up, whirlpool earnings tomorrow. we'll break down the options, next

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welcome back whirlpool shares employgoing fo swim today, traders betting the stock could get washed out after that number hits the tape. tony, what are you seeing?

>> whirlpool doesn't trade very actively, but today more than three and a half times the average volume trade-in, and most of them were puts of 2-1 despite earnings over the past three quarters one particularly bearish trade did stand out. the markets are implying about a 5.5% move over the next three days versus the last quarter, so the options market is applying a very sizeable move compared to history. and the trade structure we saw here today is 1700 contracts of the july 23rd 210 puts were purchased for an average price of about $4.65 this is a contract that expires this friday, so the trader in this particular case laid out almost $800,000 in premium to bet that whirlpool will be lower by at least 4% over the next few days but meaningfully, the stock has to be closer to about $200 or 6%

lower for this trade structure to pay an 8-1 ratio of the $800,000 put at risk on this trade. >> thank you, tony zhang tim seymour, you fast-pitched this one, so you've been on this trade for a while. >> i did i'm not in the name now, and i have to tell you, i'm hoping for some bearish activity to git b - get back in. i don't think the trends have changed for the company, it's seeing the dynamics and some of the supply chain issues that were holding up some fantastic demand i think demand is still there. valuation 9.2 times trailing very attractive, i think again, we've seen a lot of pain in the industrials this one has pulled back 20% or so let's get through these earnings and i think let's rebuild a position >> karen, what do you think? >> well, i'm long. i would buy more if they reported earnings that were disappointing. it's not like the bar is set so high when you have a pd multiple

at high single digits. so i think they have the rest of the world as a sort of -- to come to improve their earnings over the next year or two. they seemed very, very confident last time, and why would you do that if you really didn't have a great sense beyond looking at just the one quarter in front of you. so i'm long going in i will add if they miss, assuming they don't miss in a way that is way out of the norm. >> that's a good point on the rest of the world. if the u.s. is on the forefront in terms of the recovery and the rest of the world is still to come, guy, in areas like latin america where whirlpool is very, very strong, that should bear fruit in the future quarters >> that's the way to play it the dishwasher in my house is me, but those whirlpool suckers are fantastic. i think to tim's point, in a bizarre way, you're hoping for a miss, hoping to stop trades at about 198 or so, and then i think you buy it with both hands. my sense is the options

purchaseer that tonpur purchaser that tony spoke to, they might go long and then sell in a selloff i think 198 might be a tremendous entry point if it gets there for more options action, tune in friday at5:30. up next, option trades that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪

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time for the final trade around the horn we go. tim seymour. >> amazingly, em earlier this week set a 10-year low in the s&p, but i think the elm bounced up, a lot d did, but i think th is an interesting trade if the dollar is not in your face >> karen >> i didn't say at the top of the show, welcome back we miss you when you leave us with the babysitters you know who else isn't leaving? jamie diamond got some options

to stay. love love that. >> dan nathan? >> the johnson & johnson news doesn't sound great but pfizer closed at a new 2121 high i like pfizer here >> guy dhami >> delta airlines. >> thank you for joining us. welcome to "mad money. welcome to cramerica other people want to make friends, i just want to make you some money my job is not just to educate, teach put it all in context which it needs so call