live from the nasdaq market site overlooking new york city's times square this is fast money i'm melissa lee. tonight fast we are all over the after hours shares of whirlpool, texas instruments all three stocks on the move, right now we're taking you inside their quarters straight ahead. plus, the bitcoin brain trust, what elon musk, jack dorsey and cathie wood said today that sparked a new rally in crypto land. getting real, the real, real rallying on the back of a big upgrade. one of our traders sees even

more upside ahead of this stock. we'll break that down. first we start with another higher move far markets. stocks rallying in the close recouping all of monday's losses and this week's wild swings, got our traders flagging some eye popping moves. our traders have come up with the three most ridiculous charts in the market. so we kick it off with the ten-year yield falling as low as 1.13% yesterday morning before rebounding all the way back up to 1.3%. guy, this was on your radar. >> yeah, and we've been together a long time now, and i think you realized pretty quickly i'm not the brightest bulb in the knife drawer, you know what i'm saying one thing i do know is the biggest economy in the history of the world ten-year yields should be the most liquid security out there it should not go in my opinion from 141 down to 125, back to 140, down to 113, up to 130 all in the course of basically 12 trading days it doesn't make a lot of sense bond volatility is extraordinary

whereas equity volatility is not. something's wrong here that charts to me speaks to potentially some disruptions going forward in the equity market bond volatility led equity volatility back in february of 2020 i think we're on the verge hoff that of that again, melissa lee. >> tim seymour, in terms of bond volatility to equity volatility? >> well, first of all, i think guy is one of the sharper pencils in the light bulb drawer so, you know, for what it's worth, i think -- but i think this observation, i think it is extraordinary, but i think we have seen bond yields for the last two years first of all, as guy has said, i think, you know, bond market will lead the equity market, and i think where the bond market led us lower on yields, you know, well before we were concerned about delta variants, and on some level, maybe as a function of thinking that the fed was going to overstep their bounds the volatility in the bond market, i don't want to see it

either the fact that yields have overshot possibly on the way up at 175 and possibly on the way down, i think the best thing is really some of the chart that we've had on the show and the conversation that, look, we got too far too fast and that on some level you saw that bond prices were way over bought or yields were over sold on the way down i actually think that that was an appropriate move, and as a function of that, i think this sets up our other two charts >> yeah, it does, and without sort of jumping to them, i still want to touch on this. unless you think the bond market is not really telling the full story because the bond market is operating like no other bond market before in terms of the fed's involvement, steve grasso, so do you discount these moves or how do you factor these in? >> i think a large portion of this is positioning. so the most telegraphed trade was that inflation was going to tick higher, so people got short

treasuries they got short price, not yield. so if they're short price and start to have that trade work against them, they have to cover that trade so when they cover that trade, that kills yield so while everyone was on one side of the boat thinking that yields were going to spike higher above 2%, that didn't happen so i don't think it's the macro as much as the positioning trade. so when i look at the chart, we have to get to one spot for two of the ten-year to break out of this declining trend that we've seen for the last five months or is for me, i think that value trade is going to rip back from here, but i still think that there's going to be a lid put on yields around that 150, 160 mark. >> all right, let's get to the next ridiculous chart because it does sort of all, you know, dovetail together, and karen,

you flagged this one this is the oih oily tf up 11% from yesterday's low what do you see in this chart? >> well, i just see -- i mean, just a -- i don't know if it's like lemmings running all at one time maybe it's the merrill lynch herd, the bullish herd i don't know, how can all this valuation just magically change just like that i know why the sentiment is because, all right, maybe we've sort of overly concerned about the delta variant and it's not going to be that big of a deal that might be part of it there was some good economic data that might be part of it i'm not really sure, but -- so that chart's kind of crazy to me obviously we had a giant oil move when we had the opec move in there, which tim talked about yesterday. but back up a little more. i think we have another chart that goes what may be considered ancient history in a market like this, but back to june of 2021, and we see the oih at 240.

so the move from 240 to 177 is so gigantic, that's just ridiculous to me so that seemed very, very oversold, so i have some oih now. i had it last week, i had a tight stop, it immediately lost money out, i'm in now. i don't think one has missed the move back up when you step back to that june chart and take a look that is just an enormous move. maybe we never should have been at 240, but we certainly shouldn't have been at 177 either. >> two charts don't make a trend, and we still have a third ridiculous chart, which we shall get to in a mere moment. >> can't wait. >> but so far what these two charts tell me is that the markets move in extremes they move in integers, not decimals when it comes to a short amount of time in the ground that they can cover so what do you make of this oil move in that context because it's almost not surprising >> some of that's got myself in

a lot of trouble with you -- >> why >> -- so typically if we could buy the guests, we don't bring him or her back. quickly, if i may, since i'm not here you can't hit me. i can do what i want you know, steve made a great point. positioning was crazy, and he mentioned boats. my pushback and i'm not looking to necessarily have a conversation we're not talking about the s.s. minnow here. we're talking about the queen mary that boat shouldn't move as quickly as it has. that's my point about bonds. i'm with karen, same type of thing, it shouldn't move that way. if you're looking to play it, i don't think it's over. i think the energy trade paused and it was painful halliburton traded down to 19 and change the same lows as prim. i think you have tradeable levels halliburton sticks out to me, mel, i'm sorry, don't get mad at me, please i'm begging you. >> i was mad at you for a split second but that's past grasso, if i read these two charts as a story then, though,

it would tell me that investors believe that the recovery is on. is that a story line you can buy into >> yes, i can buy into that because we're going to see a boom in the economy, once it does really kick up and once we leave the delta variant headlines behind us or at least maybe they're not that impactful. but when guy brought back the guests with the ten-year yield, if you overlay those charts, they look very similar, if not identical. the oih and the ten-year yield path that means to me positioning told you which way the yields were going and now the rest of the market is buying it based on yield or selling it to karen's point from 248 down to 177 i think if you're a trader and there's a lot of people out there watching, i think you can bounce back in the oih probably to the 212 area, which is in between the 50-day moving average and the 100-day moving

average almost smack in the middle if you're a trader. >> let's get to our final ridiculous chart of this evening. that would be the giant move in u.s. steel and perhaps this also mirrors the prior two charts, no, i am not bringing back the guest so to speak. the stock is up 5% this week alone. tim, you flag this one. >> saizaney, what else can we s? steel prices have actually held a lot of the gains they've had from pre-covid i chose steel because, first of all, it is a higher beta ask u.s. steel certainly to other call them -- it's not even a resource play. it's an industrial play, and a close second zaney chart for me might have been the xli or the industrials. let me take steel, that 13% move off those intraday lows on monday are more, you know, illustrative of where i just think whether it is auto production, whether it is steel, whether it is homebuilders,

these are sectors that i think are going to continue to be booming in the second half so a lot of this really was everything trading together and i think the fact that you've actually seen this recovery. look, let's be clear also, as much as we talked about how the s&p and certainly the nasdaq 100 were largely saved by faang names over the previous five, six weeks, the s&p is up 3% from, you know, around 2:30 p.m. on monday late in the day on trading to where we closed today. i think a lot of this cyclicality, industrials, transports, resources have actually carried the market, and i think they will continue to carry it which is what i hear everybody saying at least in the short-term. >> yeah, guy, put together these charts the snap back move in yields, snap higher in oih, snap higher in u.s. steel. >> the growth scare is probably overdone the -- i guess the reopening

trade is alive and well spand in terms of resources they're not going away, and i think tim would agree with this as well. you go back to march of 2018, u.s. steel was a $45 stock on its way to 60 before the administration came out with the tariffs, so we can argue whether or not that was the right thing or the wrong thing that's just fact the stock went from 45 to 9 over the course of about two years or so i would submit the steel industry has probably never been better situated and u.s. steel has probably never been run better here we are 24 bucks i'm there's no reason why this shouldn't have a 3 handle in front of it. >> based on what you all are telling me tonight, maybe these aren't the most ridiculous charts in the market they might be ridiculous moves, karen, but the narrative that these charts tell is one that the recovery is intact >> right, well, so maybe we're ridiculous and the charts are not, right that could be the case as well. >> that's a separate story >> yes, that is -- right

yes, we know it, but i think that the recovery story is still intact i've thought it was intact i think we still have a huge back to school season. i t i think we still are rebuilding of inventory, right? so that's going to be a partial boom, and the other thing about where we are in the recovery, i think given all the supply chain disruptions, companies don't want to get back to the inventory levels they had before they want to get back to more inventory and more cushion, i think, so i feel like that's going to be a tailwind for industrials for a while, for manufacturing as well. for a while. >> coming up, we're tracking the after hours action and shares of texas instruments, whirlpool and las vegas sands, all these of those stocks are on the move right now in earnings. we'll dive into the quarter straight ahead rngts and later bitcoin breaking back, what elon musk said about the

cryptocurrency that added new fire this to trade detail when "fast money" returns. okay, imagine this... trade. detail when "fast money" returns. cryptocurrency that add fire this to trade detail when "fast money" returns. 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... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. ♪ someone once told me, that i should get used to people staring. so i did. it's okay, you can stare. when you're a two-time gold medalist, it comes with the territory.

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♪ ♪ ♪ ♪ money. we've got earnings alerts on texas instruments and las vegas

sands. both lower in the after hours session. contessa brewer digging in on lbs. with kick things off with josh lipton josh. >> remember this stock heading into this was up about 20% so far this year. was only off about 3% of its all time high. we are giving some of that back in the after hours beats on the bottom and top, for q 3. on the top between 4.4 and 4.76 billion 4.6 was expected there i checked in with stacy razz gone at bernstein, he said gross margins strong, but revenue guidance was weaker than expected and a surprise there. on the call executives by end market, industrial and auto and personal electronics were strong as for lead times, most products are steady but growing demand means some lead times are extending so they are now adding capacity on the call, i'll tell you some analysts did sound a bit

frus frustrated strong demand, you're increasing supply so why the conservative guidance the executives saying the last quarters have been strong. this is the best estimate we have right now stacy rasgon saying that demand is strong right now, but they don't know how long that lasts nobody does. maybe they don't want to stick their necks out too far at this point. >> josh, thank you josh lipton, and guy why would they and i also feel like we've been here before with texas instruments. decent quarter, good quarter, and a move lower >> conservative guidance, the quarter's sfwrovery good. it is a strong quarter, but the guide has people scared and then they say wait a second, why am i paying close to 25 times next year's numbers with 7% eps growth or i could be in a chip stock that actually has growth and, oh, yeah, maybe we're paying up on the p pe multiple if you go back to april, the

stock should probably trade into the high 170s, and then i think you buy it there. >> yeah, grasso. >> yeah, interesting, usually guy and i are on the same page and i agree with a lot of what he said except for the last part i think that the stock probably trades above that double top area of 197 that guy referred to, and i think you can see this thing pop above 200. obviously the ten-year yield is going to have the impact on this, the inverse impact on this that we saw the oih, so if you see yields continue to grind highers the whole tech space will probably either move sideways to lower, but texas instruments looks like it's been building a base right around this level so if i had a bet, i would bet over 200 >> all right, let's get to lvs, stock lower in the after hours, contessa brewer has got those details. >> melissa, covid restrictions are still a significant challenge for las vegas sands. we heard it on the call. it's clear

the company says social distancing and travel barriers and closures in this quarter added up to visitation that's only 22% of 2019 levels, and yet mass gaming revenue came in at 45% compared to 2019 so that means visitors who are making this trek are spending more on the call the company says, spespecially the president says a travel bubble among china, hong kong macau would be the best bet here. singapore you're looking at the same deal, capacity limits, travel restrictions, the ceo said on the call at this point it's a locals market and then you've got las vegas sands, which sands is selling for 6.25 billion, the venetian and palazzo rely on strong group business, and yet sands has continued paying all its employees through the pandemic that was an effort begun by the late ceo and areaman sheldon add elson. the company is grabbing headlines for its push to get

florida voters to approve more casinos. its efforts in new york and texas, it's exploring digital and online opportunities but on the call, ceo rod goldstein says he's doubling down on macau. he says he has no doubt the company's position to make more money than it did before the pandemic, he just doesn't know when that's going to happen. he says the focus on those two markets is sands' best chance to see 6, 7, $8 billion in ebitda they've got a long way to go to get back to those days melissa. >> contessa, thank you con contessa brewer, not knowing when, tim, seems like a problem for investors when you're trying to figure out what a company is worth. is that the right bet that the ceo is making that eventually it's asia where the money will be made? >> it's absolutely the right bet, and if you look at some of the competitors, i think they've been actually a little bit more bullish, and certainly some of the asian competitors like mel co i love the fact that they're focussed there they're absolutely right, and if

you think about where the -- you know, this unknown is going to end up, it's going to end up and the demand trend is continuing to grow, we know vip is there. look at the stock at 46 bucks. this is where on a one-year lookback we've had plenty of support. you know, this ultimately you could be putting airlines and cruise lines and casinos also in one of these charts. if you ways a couple more weeks because all of the fear of slowdown is obvious and maybe people aren't running straight there. but i do think asia, on some level southern asia is going through a bigger scare than they really had gone through yet in this crisis. ultimately that will abate there is a vaccine i think you're scooping up these shares now. >> all right, coming up, we've got more earnings on our radar tonight. shares of whirlpool on the move. we'll dive into the numbers on this home improvement trade, but first a bitcoin backtrack. the crypto starting to crawl back, recent losses until you guessed it, elon musk opened his

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welcome back to "fast money. bitcoin rallying today as three power players elon musk, jack dorsey, and cathie wood gather together to talk about the entire crypto trade. let's get to kate rooney with all the highlights. >> three of the most influential people in the industry talking crypto today investors were paying close attention to this panel. first, ethereum got a boost after tesla's ceo elon musk says that he owns that cryptocurrency musk was wearing a bitcoin shirt, though. he says he's still a fan of that

cryptocurrency and he owns bitcoin. he also owns doge coin and talked a bit about that. he highlighted tesla holding b bitcoin on his balance sheet musk says spacexowns bitcoin a well musk talked about some of the accusations that he's manipulating prices or is somehow anti-bitcoin take a listen. >> i might pump but i don't dunk, so you know, it's not a case of -- i definitely do not believe in getting the price high and selling or anything like that. so -- and i would like to see bitcoin succeed. >> the tesla ceo once again brought up the environmental impact of crypto mining. tesla stopped taking bitcoin as payment earlier this year, but musk says the car company will most likely resume accepting bitcoin again at some poin point. he didn't say when jack dorsey talked about square's ambition including

building a bitcoin wallet. he compared bitcoin to the early internet he calls it the eventual currency of the internet and he hopes it brings world peace. hopeful words there by jack dorsey finally, cathie wood maintaining her bullish stance she talked about apps being built on top of certain blockchains like bitcoin and she calls arc invest the closest thing to a publicly traded venture capital firm >> we do know separately from this talk that arc ark invest did take advantage of that big dip we saw on monday, correct? >> that's right, cathie wood saying that she has been a consistent buyer of these bitcoin dips, and mostly through coin base, and some of the bitcoin proxies, so ark has really been bullish on some of the sort of not necessarily bitcoin itself but the companies that benefit, whether it's coin base or gbtc but cathie wood, again, very bullish on bitcoin and talking about sort of the long-term strategy here. >> all right, kate, thanks

karen fireman, what stood out to you can we put up that screen again? i mean, that's nuts. three people -- jack dorsey, cathie wood and elon musk. >> oh, yeah, tim will come up with three great entertainers who would be like oh, my god, that's like, you know, whatever the pinnacle of the great entertainers so the great bulls of bitcoin i'm actually surprised it wasn't up more given how excited they sound and given how far bitcoin has fallen so i view that response as somewhat muted, you know it's nice, 2 or 3,000, 2,500, i don't know where it closed up. 1,700 or so. i think if we go back six months and elon said i may accept bitcoin in the future for tesla, that would have been worth a lot more but you know, i view this story as still intact, but it's definitely in a bear market.

this wasn't a giant bounce t me >> and that he put it on spacex's balance sheet as well so from a technical standpoint, grasso, given the volatility we've seen in bitcoin over time in the sort of relatively muted response as karen had pointed o out is it's actually negative, bearish for bitcoin. >> i don't think it's bearish when karen said if you go back six months, six or seven months, if you went back six or seven months, you could see the apparentness of the base that the 30,000 level in bitcoin has been, and it's been bouncing off that level pretty decisively and i think all the believer s the masters of the universe that you quoted and had on those sound on tapes, if you will, all of them would probably love to see this thing at $250,000 a coin i think we're going to look back one day, and everyone gets a

shot, and even on the show has said the same thing. when the coins trade up to that $65,000 mark, everyone says, oh, they're going to 150 when they trade down to 30,000, no one wants to buy them, but the truth is i think we'll probably blow through that 65,000 level and we'll all be talking about it on the show when bitcoin's 100 to $150,000 a coin >> all right, for more reaction from today's crypto conference, let's bring in coin metric cofounder and castle island ventures partner, nick carter who gave a presentation at today's conference on how institutions can embrace bitcoin. nick, great to have you with us. >> thanks for having me. >> as a crypto insider, what got you most excited about this talk >> well, the talk i gave pertained to bitcoin's energy consumption, which has been enormously in the news lately and of course has been one of the elon's issues with, you know, the asset, and it was discussed today during his own panel. and the point i was really laying out was simply the fundamentals are getting better

in terms of the sustainability of bitcoin >> so when elon musk is concerned about the environmental aspect and he says that likely tesla will accept bitcoin as payment at some point, in terms -- you know, from the environmental standpoint since that was the primary reason why he stopped it in the first place, when do you think that resolves itself to the point where he might start doing it >> well, what he said today was cause for optimism for sure, and i'm glad that he has begun to evaluate the facts on the ground because they're very favorable china turned off bitcoin mining, effectively banned it. that chinese hash rate was influenced by energy produced by coal the new hash rate, some of those miners are relocating, some of them will never come back online a lot of that is being replaced by miners in canada and the u.s. where miners are more sustainably focused. we're also seeing a lot more

disclosure from miners 32% of the hash rate joined a bitcoin mining council and they've produced quarterly disclosures now. and within that sample, the miners were 67% renewable or nuclear powered. so the miners that are disclosidis disclosing and a lot of these are western miners that are exposed to western capital markets are disproportionately sustainable in their operations. all elon had to do is look at the ground troop, and you know, it seems like he's changing his tone now >> yeah, i mean, in the span in which he said he had concerns and he was going to stop accepting bitcoin as payment, bitcoin did turn off the mining. so i'm wondering how much greener did mining become when china banned it? >> we're not going to know for sure until we can pinpoint where some of this hash rate is migrating to on the one hand, it may go to kazakhstan which has a carbon intense grid, or it might go to the u.s. we know it's lots of new hash rate is being on shored in the u.s., it may go to canada which

has a low carbon intensity grid. it might go to russia or other places we haven't thought of it's going to be a matter of months before we can actually determine where those miners are going. regardless, we know for a fact there's all these publicly traded miners raising capital in theu.s., and those miners by and large are seeking out sustainable energy some of them are buying carbon offsets. they're much more pro-sustainability than the largely anonymous chinese miners that we had before >> what's your guess in terms of bitcoin mining, bitcoin becoming green enough for tesla to start again? you said a matter of months. do you think, you know, accepting it as payment follows shortly afterwards >> well, it's arbitrary threshold kind of imposed by e elon himself i can't know what he's thinking. i think bitcoin is perfectly suitable for payments today, and of course the environment tat costs are offset by its enormous

utility. so any amount of carbon intensity would be sufficient toward accepting bitcoin payments in my view. >> it sounds like, though, you think that in a matter of months that the greenness, if you will, of bitcoin will increase a' astronomically just because it's going to be relocated to areas likely that use less carbon intensive power to power it. >> right now we're in a wait is and see mode i'm very optimistic. the data we have is good for sure in terms of sustainability, but it is just going to be a matter of seeing where these miners do end up loacating themselves for sure. >> nickings goo, good to have yn you. >> bitcoin got a boost when elon musk said he was going to accept payment and when a big company, s&p 500 company like tesla starts accepting bitcoin as payment, that could actually open the floodgates for more companies to make that same

move >> it was part of the floodgates of 60,000, wasn't it >> yeah, the discussion of 1% of treasury of corporate balance sheets was enough to get people there. and you know, i recognize that the headlines that are created by ylan and by cathie wood and i think to alesser extent becaus i don't think jack dorsey's seeking headlines, are really important for sentiment, but my guess is they don't get anywhere near the top, you know, the top echelon of most influential people in bitcoin and in crypto. they just happen to be people that are influencers so i mean, it's nice to know that tesla may at some point adopt, but i do think it's going to really be more about the actual adoption of corporate america, but also the continued development on top of these platforms. i think the ethereum news today was probably more important. >> coming up, we are breaking down whirlpool's quarter the stock is on the move in the after hours. we'll tell you how our traders

are playing this report. the real opportunity, one of our traders says this rally is just getting started. we'll break down that tre.ad you're watching "fast money" on cnbc back right after this. c'mon caleb, you got this! and if you don't, there are other options! umpire: ball! good eye! good eye! eyes are good for lots of things. like reading! be the best, caleb! statistically impossible, caleb. umpire: strike three, you're out! you'll get 'em next time! or you won't, probably won't. and it won't impact your future whatsoever!

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welcome back to "fast

money. we got another earnings alert for you on whirlpool, shares on the move in the after hour christina. >> you have a huge jump in sales along with an increase in full-year guidance whir whirlpool's latest quarter, adjusted earnings per share came in at $6.64, higher than anticipated with revenue at $5.32 billion. that was much higher than anticipated at 5.03 billion. so sales, they climbed 32% in the quarter. the pandemic, as we know, led to a huge jump in durable goods as many people picked up washing machines and refrigerators and appliances for their home, even despite higher prices. in april, the cfo did say that whirlpool increased prices in every region of the world ranging from 5 to 12%. so now whirlpool does see earnings ofabout $26.95 per share from prior guidance of $22.50, so they did increase their full-year guidance, but that still wasn't good enough for shares in after hours trading.

why? the appliance maker said they expect to spend roughly $1 billion more on raw materials like larger resins and steel costs, and the company warned profit could take a 5% hit in 2021 so we could also expect higher prices to offset those costs melissa. >> thanks. got to go to you tim seymour on this whirlpool trade. >> look, you know, i'm not worried about 5% in additional costs when they just upped their earnings by 18%. look, at 27 bucks a share diluted 21, this company's trading at eight times i mean, the demand for, i think, you know, consistent with the chart part at the start of the show, the industrial demand around their products, the thawing of some of their industry and supply chain freezing is exciting, so i'm not sure what investors really want. i think there's a disconnect here between understanding raw

materials cost, which by the way at least right now have very much come down from where they were six weeks ago i think they will still be a factor, and i think all companies are talking about this, but their business and their ability to pass on these prices to customers is clear by their profitability. >> that's what didn't add up to me, guy, and that is a billion dollars in additional costs, but the cfo says price increases that christina had talked about they will offset those increased costs, and so here we are down 1% still >> yeah, as will the guidance to tim's point. i mean, i would submit the stock is cheaper now than it was four hours ago in terms of valuation, and tim makes a great point. it's dirt cheap. people say, well, cyclical stocks of this nature, you don't buy them when they're cheap. i'd push back and say it's not as cyclical as it used to be i just think the stock is too cheap here they spoke about inflation it's clearly there in spades they're going to able to one, pass it on and it's offset by

their guidance i wouldn't be surprised if analysts raise their price targets over the next week or so. >> karen, you did buy this one. >> yeah, i was long going in i mean, i think i wouldn't be surprised also if analysts raised their estimates to me it's very reminiscent of gm during that phase where everyone thought peak auto these numbers are great, and the cash flow is great, but peak auto, peak auto. it took a while for gm to finally start to get some kind of re-rating and i think they don't see the end of this -- i don't know, revenue, it's not an improvement, right otherwise why would they -- why would they increase their guidance this cash flow generation, this company now is almost a 10% free cash flow yield, which is incredibly cheap so if i owned none, i would be buying it right here i think it might just sit there and be, you know, peak washing machine multiple for a while, but i'm happy owning that

because they'll just continue to make money we'll see them increase their buyback is my strong guess i bet they're buying back stock as soon as tomorrow. i don't think they could buy before earnings. >> all right, coming up, a real rally. why investors are taking a shine to the luxury reseller today plus, there's still a strong slate of earnings ahead this week we're digging into the key names you should keep an eye on ahead of results we're back right after this. st announcer: miss a moment of fa, follow the "fast money" podcast. an online food delivery service. business was steady, until... gogo-foodco. go check it out. whaatt?! overnight, users tripled. which meant hiring 20 new employees and buying 20 new laptops. so she used her american express business card, which gives her more membership rewards points on her business purchases. somebody ordered some laptops? cynthia suarez. cfo. mvp. get the card built for business. by american express.

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welcome back to "fast money. time for our call of the day the real real getting a big boost following an upgrade to a buy at bank of america, analysts saying the retailer was hit harder by the pandemic than other e-commerce stocks and could now be in line for multiple expansion this was your fast pitch a few weeks ago. you made some of the points in terms of they were very supply constrained before, and now it should actually really improve to help them >> right, really improve on the supply constraint. that's really important skand we see a lot more of these neighborhood stores in big areas

like new york city, chicago, l.a., and that has helped them get a lot more goods to consign to have for the buyers so that's one thing. the luxury aspect of it i don't think is fully recognized. that's important the sustainability of it, people are now wanting to own sustainable goods in that they were, you know, preowned, but instead of buying fast fashion, they'd rather buy a luxury good. and so that's important as well. in addition, the company has temporary high expenses because they're consolidating distribution centers, so i think we'll see improvement on the expense side at the end of the year, and you know, relative to like a d pot like etsy bought, it's very attractive i had pitched this it's lower than where my fast pitch was. i don't remember if i was unbreak my heart or if i had the time of my life, but it's down since then i've been buying a lot of stock. and i really, really like the story of the real real i think there's a lot of upside

here >> gras sew, i know you've been on the site a few times, you're familiar with this thing what do you make of the business here, what do you make of the stock? >> i do like it. i agree with karen, and i do agree that luxury brands take that next domino down. luxury brands are undervalued and i'm still in capri, although i did sell some stock recently capri probably could make another run here, and it does have those luxury brands, not only the michael kors, 2.9 billion, guy's favorite, jimmy choo, tim's favorite, versace. i think that the luxury brands are under value, and i think you're going to reap the benefit ifs you buy capri at or around these levels. >> i think grasso nailed it when it comes to assigning the brands to the traders. a big bullish bet on alibaba. plus, it's another big day for earnings tomorrow, what the

traders want to hear from a trio of tech stocks when we come back

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peek at the cramer cam jim sitting down with marc benioff for an exclusive interview at the top of the hour only on "mad money." alibaba having a bit of break down this year let's get to mike khouw with all the action m mike. >> we saw that calls outpaced puts by more than 4 to 1 we saw a lot of activity, for example, in the july 30th, 215 strike calls, and then looking out to the 215 and 217 1/2 calls that expire in august, those would capture earnings the most interesting trade was flagged by karen and i took a look at it this were the january 2023, 285 strike calls, so well out of the money. over 2,200 of those traded for $15 apiece each contract represents 100 shares or an outlay of $3.3 million in premium betting. this is a stock that could rally

50% or more in the next 18 months. >> wow, so karen, what did you make of that trade when you saw it >> i was excited to say for options -- or yeah, to whoever it was doing it today, mike khouw, that's extremely bullish. you know, it has to be 300 before you start making money, so you have 18 months for that to work. i'm kind of hoping that it works sooner than that, but it's a very bullish trade i'm long, clearly it's been painful for months, but i'm staying long i'm willing to ride out the risk of the wins of the chinese government >> when do you say the people's republic of china and the government grasso outweighs the fundamentals or have you reached that point yourself? >> yes, i have reached that point myself, and when i look at the chart, you know, this has been on a declining trend for quite some time, so that's the

obvious statement. it has to trade above that 230 range to break out of that declining trend line, but it is a role of the dice when you're -- to your point, when you're betting against or with the chinese government because that -- you have no edge there, and you don't know what u.s., china relations are going to be. under trump we knew that there was going to be head to head battles, under biden we're not really sure what it's going to look like. at the end of the day, i think you're at the mercy of the chinese government, that's not where i would like to be right now in a stock. >> tim, you also hold it >> i do. and i think that the discount rate is a function of sovereign risk is what it's all about with this stock it's not a question about, you know, 22 to 25% growth across both the cloud, but they're gmv and the dominant player, the national champion company, and actually, i think the current administration is, you know, potentially more of a headwind for the stock than the former

one. i don't -- i didn't think the trump administration was going after chinese companies that were trying to do business in china, and i think the chinese government is from a regulatory perspective, and again, antimonopoly and some of the things they were pushing very hard on early on i thoughts were actually constructive in that they were helping to define the rules of the game. and right now i'm not sure i understand the rules and i've seen this before in emerging markets i haven't turned the other way on this, but i -- you know, i'm -- 200 to 205 and then 180, traders have to think about risk at those levels. >> yeah, mike, you own the equity in alibaba, so you're with karen as well as tim. how do you sort of parse out the geopolitical risk to this trade? >> yeah, well, i mean, as for the rules you were saying what are they they're capricious is what they are, and arbitrary and of course that's the risk. but i can understand why somebody might make a bet like this consider it in basically where the stock was nine months ago. the thing was just under 320

bucks a share. under any other circumstances and any other domicile, you know, basically the kind of growth that you see in this company, the opportunity that they have, this thing would be trading, you know, probably 400 bucks. so i think when you risk 7% of the equity, betting that the stock could just get back to where it was and by the way, their earnings are going to be at least double, basically looking up to that january 2023 level, if it gets back there, it's going to be trading at half the valuation it was the last time it traded at 320. so i think that's the reason somebody's making this bet it's somebody fairly substantial, right $3.3 million in premium outlay would represent a position of about 66 million in the stock if if it gets there they are capping their risk. i think this is arguably a sensible way to play it. >> all right, mike good to see it thank you, we'll see you friday for the full show. options action 5:30 p.m. eastern time up next, wree' setting you up for tomorrow, plus your final trades

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welcome back, another big slate of earnings coming our way tomorrow, intel, twitter, snap, all report after the bell, so karen, what are you watching

>> i'm going to watch snap i am really interested to hear what the new apple privacy update, which i think took place at the end of april, what that means for them so the news of that targeted data, how big of a deal is that for them are their customers, are they not advertising as much because they're not as confident how effective the ads will be, and what does that mean for facebook >> all right, good one time for the final trade, let's go around the horn tim seymour. >> another chart that could have been today is freeport mac, obviously, up about 7.5% i think copper prices are stable here supply demand is in favor i think of an upward movement even of copper proices so freeport >> steve gras so i'm looking for a proxy of bitcoin, i do believe it moves higher, mar a, marathon digital.

it's a crypto miner and a hell of a lot easier to buy a $25 stock versus a $2,000 coin. >> karen. >> whirlpool, love the cash flow >> guy. >> nasdaq. >> thanks for watching "fast." ade you tomorrow "m 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, just trying to make money. my job isn't just to entertain you but to teach call me at 1-800-743 cramer. we can argue whether netflix still counts as a growth stock after that