about. i wonder if we're back in a nasdaq rephase and until further notice maybe that's the mode we're in for a little while but you wanted to see the volatility index calm down further, i think, before we can say we're done >> nice bounce back today, but it was an easy day we'll see if it continues for the rest of the week >> thank you so much for watching "fast money" starts right now. overlooking new york city's times square this is "fast money. hit the road, jack jack dorsey stepping down as ceo of twitter plus the chart master says beware of the bounce carter worth laying out the next key levels for the market. and later a small world with big opportunity. disney shares touching their lowest levels of the year.

so should you buy this pull back we'll debate that. we start off with breaking news out of the fed as chair powell gets ready to face the senate banking committee tomorrow steve? >> melissa, thanks jay powell a hawk s testimony he's set to deliver to the senate tomorrow. with the two-year yield falling it looks like the market maybe hears something different. making the first comment of any fed official about the new variant. powell says the recent raise in covid cases and the omicron variant pose down side risks and also increases uncertainty about inflation. then he goes onto say this and i quote, greater concerns about the virus could reduce people's willingness to work in person, which would slow progress in the market and intensify supply chain problems

and then he had these other comments on inflation where he said it's welling well above our 2% longer run goal it will linger well into next year and that labor slack is diminishing while wages are rising at a brisk pace all that said he did go onto say he expects inflation to move down significantly over the next year and sees the job market continuing to improve. this is a chair that suddenly seems very focused on inflation. and take a look at the two-year yield which is now down below 50 and broke through 49, melissa, in the wake of those comments. >> right on the mark at 4:30 when those comments were released steve, what exactly did you take away that were hawkish the path, the trajectory of the economic recovery? because i guess i zeroed in on the dovish part of it, and that is the possible impact it could have on the economy, omicron, that is. >> that's your generally sunny nature, melissa.

that's what i think it is. but i heard a few things he said wages are rising at a brisk pace he said high inflation will be around well into next year most important is this idea, it's a really interesting question, melissa. the idea that greater concern about covid reduces labor supply which will reduce supply, which will increase the inflation problem, that kind of one, two, three, chain raises the question as to whether or not the fed ought to attack any reduction in labor supply with greater easing or lesser easing you've had those on the committee that have already said more fed stimulus does not bring or solve the supply problem. indeed, it may make it worse so that's an interesting question i'm not 100% sure which way the fed chair is leaning on that question >> you mentioned the labor problem, but it could also exacerbate the global supply chain in terms of product

especially overseas. that's a huge factor, too, as we see european lock downs and lock downs elsewhere in the world >> that's precisely the point, melissa. there was a bunch of commentary over the weekend that said the worst problem from this new variant if it ends up being bad, which we absolutely do not know. but the worst problem could be that kparbation and supply problem beginning in china and the idea europe may get it worse than we have or may ever get it here those were two distinct issues out there were the foreign effect on the supply chain which would exacerbate the inflation problem we have here in the united states. >> should be an interesting day tomorrow steve, thanks so much. all right, so glass half full or glass half empty how do you read the fed chair's comments obviously it was highlighting my sunny disposition. that's sarcasm, by the way but how do you see it?

>> i'll answer that for you. there's a great line in one of their songs. a man hears what he wants to hear and disregards the rest and that's exactly what happened over the last five minutes i heard hawkish. you heard dovish i guess it depends on your frame of mind. i think there was a hawkish tone to it as well. got below it i think 100 basis points or so, probably either side of that i think that's what's interesting. i will tell you i think ten-year yields should be a lot higher but the market decides that. i don't think these comments are going to have any impact necessarily what happens today i will say today is a lot of good things, a lot of bad things good thing is it's semi stocks are just on fire amc making an all-time high and

nvidia that's a mixed bag i'd take those comments as hawkish. >> we also had a lot of the high valuation names doing well if we could take a list of them, tim, we see them raging back into session how do you interpret this action >> again, let's drop the powell comments into it as well, and i think the great irony he's using the potential shock as an opportunity to point out the inflationary impact of that, not what we expect from the fed. in fact, the fed usually there to sit by the punch bowl, and therefore some of the higher multiple stocks get a lot of relief from that, and you can explain some of that, but i actually think it's almost as if some of the -- a lot of the market behaved as if they'd heard these powell comments. that includes semis up 4% today and outperformed s&p by almost

14.5% since the october low. they've been leading in a market with a market coming to grips with a fed that i think is coming to grips with inflation powell highlighting the inflation numbers are running well above their 2% target and pointing out of a lack of slack in the labor force is using an opportunity to talk about the shock they think the fed is going to be their friend and at least signaling this could be a chance to do something different. again, let's wait and see. is this good news or bad news? well, if you want the market to go higher, it's very good news but the market i think is becoming very reliant upon some of these moves the move in nvidia, the move in qualcomm, the move in semis is notable. this isn't just a two-day event looking at us to pre-wednesday or pre-friday. it's really the tone of the last five weeks >> yeah. and you have to wonder whether that under-performance is related to something other than

omicron. karen, you're highlighting in today's call the under-performance of banks and how disappointing that is to you. at the same time this morning before the markets opened we heard from the ceos of the two major vaccine companies, pfizer and moderna on cnbc basically very optimistic about the prospects of those vaccines either in their current form or some other form like another booster or more concentrated form being effective against this new virus and yet we still didn't have sort of that comeback as tim mentioned in some of these areas of the market that would signal economic strength. >> well, let me just go back to friday i thought omicron was part of it, but i actually thought there was a little bit of feral of you know what, maybe the fed is no longer here anymore and we got to start getting used to that. to synthesize that to what powell said which i heard as very hawkish, you could say a

new variant would be an opportunity for some easing, even right? normally if things slow down instead he pointed to, you know, what labor costs and people staying home could eventually do that would be inflationary so i think it's hawkish. so i don't know if the dress and blue and yellow or gold or whatever that thing was, but i definitely see it as hawkish and as it goes to banks we often look at the 210 spread as a proxy for banks even though they're not setup that way but if it goes up and curve flattens sentimentally that's not good for banks if there's long growth that's good for banks i didn't buy anything today. i didn't buy anything on friday. but one thing i'd be looking to buy is banks if they turn down more >> i think this is sort of a good glimpse into market psychology as you wind up the

year >> yeah, i think that friday was -- friday was based on the variant in my book i thought this would have been the greatest excuse for there to be less fed next year. and i view it as dovish. his words were hawkish, but i think his actions out of it are going to be dovish and when he points towards wage inflation, i think the fed as well as many others feel that that's not necessarily a bad thing. we've been looking for higher wages. we've been looking for a way to create some sort of a wage inflation -- inflationary environment. i know that obviously everything people are going to be buying are eating up all those extra dollars, but nonetheless when the supply issue resolves itself you're going to be left with in most cases hewer wages, and i think that's what the fed is going to hone in on. i think the market really

ratcheted it up, and to tim's point if you want higher markets, you've got to have tech lead what i'm nervous about, though, melissa, is the fact the market was willing to give up a chunk really fast. that makes me nervous about staying along in the market, even though i think the market can't move higher we're having swings on a monthly basis of up 5%, down 5%. and i think it's shaking out for something big to really hit the market the next two months >> you know who was steadfast about this back on friday, the retail investor. tim, i know you're sort of interested in the stockout by vander research. they got hit the hardest on friday, and that was a pretty good trade >> well, there's no question that this is a retail investor that's been emboldened and actually on some level this is the retail market where there's

a lot of liquidity on a day like friday, look, we all knew liquidity was going to be light i think a lot of folks have said we've seen this before, and they're probably viewing powell's comments as half full and the dress as gold, karen but i think it's a case where you've got a retail investor that had to be very careful about looking at the play book of covid and in fact, i think they went the other way, and kudos it's a fact not buying in peloton, i think it was really about going after the market some of the meme stocks had a pretty good day, but i think it's very encouraging you actually have the retail investor stepping in on a day, one, because it shows they are no longer disenfranchised, but, again, understanding potentially friday for what it was and ultimately confidence we have both in the medical community, the pharma community and the reopening.

buy energy, buy some of those beaten down resource stocks, buy some of those inflation trades, and i think that's what they were doing >> $2 billion into inflows in etfs alone markets bouncing back today following friday's big sell-off. but the chart master says don't get too excited. hey, carter. >> so before we look at a few tables, a few charts, at the end of the day it was a very defensive day. despite the headline gain in the s&p we know that only four sectors outperformed the market and they were all defensive util utilities, of course tech. and it just smacks of something unconvincing let's look at a table or two and then two charts. the first is just a one-item table and you can see it here on your screen. we know the s&p 500 if you were

to put that in the context of all draw downs since the covid lull and you just do that and remove my opinion, everyone's opinion, there have been 17 instances since the march 23rd low where the market has declined call it a sell-off, draw down, doesn't matter and this one is yet another. it's the 17th down 3.4%. if you look at the median and mean draw down it's closer to 6% so the question is at this point could we possibly be done with the sell-off again, a very defensive day. if you look at the charts on the screen we've retraced exactly 50% of the drop, and we falter right at that level. and my hunch is it's just not going to escape as easily as down 3.5% over the course of a

new sessions and onto new highs. and the damage down, of course, in value which continues to struggle, in small caps, all of it, it's so dependent as you all were saying on a handful of names. while those names do drive the market they are exceedingly defensive. >> carter, what's your progression for the rest of the year your chart indicates that might have some trouble happening, materializing. >> right, so in the sense that give backs are part of any uptend, the give back i don't think has concluded. for the furererocity of the selg one might think it passes through a lower price. i think one is right to phase a lot of the ricochets in today's market >> good to see you, carter

feeble, i like that word that's a good one. >> it's money. you like the word feeble, you come to me listen, i'd say carter always makes great points one thing i with and maybe i thought we absolutely were off to the races when we broke that sort of 230-ish level. if it's going to be feeblites going to be predicated and 215 is the low you have to watch >> ferocity is also a good word carter used, and now i'll go to karen. will we see the santa claus

rally? >> i think that i agree with carter that down is the way to get to up. so i'm not -- wasn't looking to buy today. i feel there's a little more rocky road ahead we'll see what we hear from powell maybe that will do something to the market i'm not selling anything i want to buy things, but i do feel there's a little bit of a rocky road to come, and so i want to wait for that. and then also i do think there will be some pressure, some tax law to the extent people have any losses at the very end of the year all right, coming up dorsey. he's done on twitter the company ceo stepping down. one of our traders is thinking about selling their position on the news more an that in just a few first, we're rounding out the retail trade black friday on the books to cyber monday. which retailers are cashing out 'r the big winners wee breaking it all down next. don't go anywhere.

much more "fast" in two minutes.

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with a 2-year price guarantee. give your business the gift of savings today. comcast business. powering possibilities. welcome back to "fast money. retail stocks rebounding today despite an underwhelming start to the holiday season. >> on the first big holiday shopping weekend in-store

shopping was actually strong relative to last year, and then online shopping a little less so in store traffic grew 52% black friday through sunday though down from 21 ers in 2019 black friday is still forecasted to maintain its position for the biggest day of the year for in-store retail. though, again below those 2019 levels retail sales grew more than 14% on the three days from black friday to sunday compared to that same period last year with in-store spending up more than 16% in 202, up 1.6% from 2019 digital spending grew 5% and up 29% from 2019. this is according to master card spending polls adobe data, however, for the first time says spending on thanksgiving day and black friday failed to grow year over

year shoppers have already spent more than $99 billion so that is up so it does point to the early spending for perhaps some of the digital disappointment over the weekend. remember, we're comparing this to 2020 when we saw really an accelerant of digital sales. today's cyber results are still expected to mark the biggest online sales day of the year, and that peak stretch isn't expected between 7:00 p.m. and 11:00 p.m. pacific time. while amazon shares were up today many other ecommerce players like ebay, wayfair,etsy and some others were actually lower. we've got a lot of shopping left to do here tonight, melissa. >> for all the procrastinators out there, that's for sure this is sort of a glass half full, glass half empty situation as well.

steve, i don't think if you've already gone shopping or online shopping it sounds like a lot of pull forward is happening >> yeah, a lot of pull forward is happening you brought this up months ago you always shop earlier. my wife does the same thing. i think that everyone was so in tune with what the supply chain was going to look like, they wanted to make sure we started extremely early, so there was an awful lot of pull forward. and then for these handful of days i think you also have to remember we haven't been with families for quite some time so instead of staring at your phone, shopping online or going to a store, people actually took the time and spent time with their family so i don't want to rush to judgment for this weekend. let's wait until it all shakes out and see what it looks like going into year end and how these companies do in this quarter. >> yeah, i mean if companies are able to sell more full price or fuller price items than promotional items that should

theoretically be very positive for retailers, karen i wonder what your take-aways are for black friday and cyber monday >> we don't know that. we see a tough revenue number and how it did year over year and stacked to 2019. we've heard again and again the environment isn't nearly as promotional it has been in the past, so they're able to sell full price i think a lot of the stores got rid of the door busters where they give away whatever for free or giant sales i haven't seen that as much. so i think we only know part of the story and i think the rest of the story is positive for retailers. >> supply chain doesn't sound as bad either we heard from the wal-mart ceo basically saying today that the delays at the ports et cetera, they've improved since they

reported earnings just a couple weeks ago. >> granted news coming out of south africa and new variants and things like that, this is something to watch again, if ulook at nike it's rallied with vietnam exports being up almost 19%. they turned everything back on i think there are other parts of the world doing that as well if you look at the last fore our five days, the story of a longer shopping season, very difficult comps, alive and well. but i think if you look at where the consumer is and their ability to spend this holiday season, i think it's going to be an extraordinary look back on the totality so affirm, and i think those will be places to see. we'll see really where that approach has taken hold. i still think that visa is oversold on the down side here and look you're going to see very strong numbers out of both master card and visa in the

holidays there's a return to plastic even if the world may be changing slowly in their face >> except for guy who uses a rubber band as his wallet as we learned on twitter just quickly, guy, what's your favorite shopping but non-retail shopping stock so like a payment stock -- >> i think tim is right about affirm, by the way i think if you want to throw sofi in that mix, it's not necessarily in that world but so close you take a look at that. i was going to mention costco. they reported about a week or so the one that sort of leaps off the page that could be really interesting given the sell-off wave seen is restoration hardware look where it is now we're at levels we broke out to the up side from back in april and i'll throw a bestbuy at you. i think bestbuy is look for a trade as well.

>> all right, we're just getting started here on "fast money. here's what's happening up next. hit the road, jack twitter ceo jack dorsey stepping down so where does this stock fly to next plus, no dice. casino stocks take a tumble from some reports the traders are anting up on this trade you're wchg asatin"ft money. we're back right after this.

[uplifting music playing] ♪ i had a dream that someday ♪ ♪ i would just fly, fly away ♪

welcome back to "fast money. blockbuster news out of twitter. jack dorsey announcing he's stepping down as ceo he'll be replaced by twitter's chief technology officer

twitter's shares dropping 3.2% today. it's got one of our traders thinking about selling out of his position on the stock. joining us now on the fast line is the one and only dan nathan dan, why are you souring on twitter? >> all right, mel, we've done this a couple times now over the course of 2021 jack dorsey february got everybody all geeked up about product development and the philosophy of it and we saw them move into a lot of new things. none of this is really moving the needle so now that jack is gone here and the cto i think is just a really disappointing choice. if technology and innovation in the company has been a big problem, and an insider who's the cto not going to be the fix for a company struggling to grow off their 200 million user base. for me i'm pretty disappointed i've tried two trades this year prior to my latest one which i've talked about, and this is

not the piece of news i think is going to get the stock going here this company wept public ip2013. it's up 75% or so. the s&p $500 is up 200%. and all of that cambiombined is square this one has got to shakeout i still believe this company is a feature on a larger platform it's not going to be going at it alone and maybe the cto was a good choice to sell this company not the founder still there who took them public a few years ago. >> what's your verdict selling out of your position >> basically i was in a few calls and it's basically worthless at this point. and i was thinking about adding a long position before this sort of news. an outsider, maybe with someone more of an immediate background

to grow this audience base with more of an e-commerce focus because i think social commerce is going to be a huge play for them eventually if they get there. but this is just disappointing news for me right now. >> thanks for phoning in i appreciate it. for more on dorsey's departure from twitter and what it could mean for his other company, square, let's bring in -- were you surprised dwroun i can understand the decline in twitter shares but square didn't get a pop either although now it's going to get a full time ceo. >> obviously the market got excited early on about jack stepping down, and the new ceo announced we can talk about that decision i actually like it a lot more than dan does. i think the square kind of shrug

is an acknowledgment jack has been focused od mostly on square maybe that's a slight positive, but i think he's been really focused mostly on square a lot of the time. >> why is a decade veteran, the cto with the right choice to bring twitter out of its innovation funk into a new age of monetization and social commerce i mean, what's the argument there? >> i think the argument is jack in his letter wrote about the fact the company needs to move beyond having a founder. i think there's still something about the idea of having stability of someone inside the company who's well respected and trusted and actually over the past couple of years one of the most impressive things twitter has done is rebuilding its entire tech stack. they had a ton of technical built-up so while the particular

experiments have not worked out to the full extent that i would have hoped they would so far, the fact he built a platform where those experiments can happen a lot more quickly i think is a really good sign. it's still really early. i think there's a lot of users who feel the same way, that twitter generates a ton of value for a ton of people without being able to capture a lot of that value hopefully what's happened at twitter that tech refactoring has helped a culture where innovation is possible one of the most impressive things about square and bigger differences is square has also run a bunch of unsuccessful experiments. they just haven't totally reshifted the company's trajectory like twitter where twitter goes all in on one thing and all in on the next thing and that was the thing that made them take off.

>> karen mentioned on our call just before dan just alluded to, this announcement might open -- potentially open the door for an acquisition of twitter do you see it that way >> i have a hard time seeing who in this environment is able to acquire someone like twitter who has the combination of the money and the ability to get a deal through it seems unlikely. twitter for the fact it's only a $36 billion company is a hugely, hugely important asset and shaper of the public conversation, so i can't imagine r regulators letting that fall into somebody like a facebook's hand i'm a long-suffering twitter shareholder and i think we'll probably see another year or two of them figuring whatit to do wt this platform they built >> great to see you, thanks.

packy mccormick of not boring. what went through your mind is also a potential sale although the price action didn't really support that argument. >> true. it didn't. otherwise it would be up i think if you're a company out there and you have an interest in twitter, i think the door is open now, right? instead of them doing a whole search and looking for a ceo outside of the company, someone might have said, look, i don't know that twitter, you know, will not get sold in the short-term so do i want to take this job so instead they went someone inside he may be great, i don't know, but clearly there's some issue there they need to get a handle. and shareholders aren't familiar with them. also we're getting toward proxy season where you have to nominate directors soon. obviously we know elliot has been unhappy with a lot of

things there i don't know if there's more pressure coming, so dorsey felt he had to do that. to me it seems they're more vulnerable to a sale now than they have been in a long time. >> has the twitter picture in your view, tim, changed in the past day >> yeah, as a twitter shareholder, look, this is incredibly frustrating and there are two things frustrating to me. one, it's extraordinary jack dorsey was able to be ceo, basically married with two families in the world we live in today and actually get away with it this long that's actually not my frustration. this is a company that said we're going to double revenues by the end of 2023, take daus, and the stock basically rallied from their deal with elliot and really some sense there was already going to be stuff in play including $2 billion in buy backs to that invest day where

they made -- think about those proclamations. stock rallied 80% and is now down 45% off that 52-week high i think the dynamic around an activist investor to make some changes and do some things going to move the stock on top of the company going out and making some bold proclamations to me is a formula here that put investors made on the wrong side of this. >> sounds like you're ready to throw the towel in >> i think you had a case where a lot of good news was made almost clear and articulated, and i don't see where that's coming from. and yet, i'm happy to see elliot try to continue to maneuver and push this company to where i think the intrinsic value is i think a lot of this has been tied up in the stock price over the last six months. coming up, disney losing

some magic today as the stock briefly hit its lowest level in over a year. plus time to take some chips off the table. casino stocks plummeting today aftoday. what's strong with me? i can find strength in a rest day. what's strong with me? there are some nights i sleep so well... i'm ready for anything. find out what's strong with you with daily readiness on fitbit.

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welcome back to "fast money. casino stocks taking a hit on reports of illegal gambling operations and money laundering in macao >> and those stocks were an improvement over when the market first opened this morning. the ceo of macao was arrested on cross border gambling charges alleged involving crypto currency shares immediately took a steep dive they fell like 10% and then when the markets opened here they had the casino stocks took a hit but then rebounded. why would that be? let me tell you. junkets are the vip segment, right? that's organized gambling for high rollers that segment has been under pressure for years according to bernstein analysts the junket business is in

decline and will never return to its future scale that's a quote from their notes today. here's the numbers laid out by deutsche bank today. in 2013 the vip segment generated $29.8 billion in gambling revenue by 2019 the junkets brought in less than half of the total gaming revenue in macao. with some of those players that had been in junkets turning to premium mass deutsche bank estimates in 2023, a decade from what i just showed you the mass segment will bring in twice as much as the vip segment, so a total reversal company insiders i spoke with today kind of shrugged about this arrest of a junket boss they say the more pressing concern is the omicron coronavirus variant and the impact that might have on visitation restrictions in macao because as you know, melissa, they're nowhere near bounced

back >> contessa, thank you throwing a jp morgan number and that's an estimate of.3% of operators earnings in 2023 will be from the vip segment. at the same time crack downs that's just part of the risk in this trade here. that doesn't end >> yeah, you have both kind of head winds coming at you right here on that headline. i think great reporting by contessa because i think the trend here on vip versus mass is what it is i think there are concern this is singling out but also going after folks using different types of headlines to really attack the sector and possibly reissue licenses i think if you're an investor and think this is just about travel mobility, this is a great trade. i'm sideways on this trade most of these through options i do believe the story here is of a company that's got a lot of

cash being very copper opportunistic, and i think this is really a story. most casinos that don't even have big brother in china are running into this kind of a headwind that's an opportunity to me. >> yeah, so obviously the variant is the major headwind de jure for them just when you start to think they can get their footing below them, you get hit with another variant. so it used to be either you played mgm in the states or you played the leaning towards macao there. and even mgm is going to get hit with the variant as well, so i think you have to be really cautious overplaying macao i don't think you could dive in just yet because the variant is a major headwind, and we don't know how this is going to shakeout, but i would take a dabble in mgm, because i think

that will clear up sooner rather than later coming up a disney downer shares briefly hitting the lowest level in over a year. so is there anymore magic left in the stock plus sales force earnings are after the bell tomorrow so we're taking a dip into the options tips on w eihothr playing the names. the details when "fast money" returns. see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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welcome back to "fast money. calling all cathie wood fans that's this wednesday 10:00 a.m. eastern time head over to cnbc.com/pro/talks to catch that interview. shares of disney cropping to its lowest level in a year before staging a midday come back the stock is now down more than 18% this year. guy, what do you think of disney >> well, i think finally i would submit for the first time in a long time this is action where you want to buy it we've said on the show for a while it makes sense if you get into the mid-140s to take a look you go back to december, 2019, january, 2020 that's basically where the stock topped out at before it cratered so past resistance becomes supportive traded two times normal volume

which was good we did bounce later in the day i think if you've been looking for an entry point, this is obviously the best one in terms of price just in terms of setup this is the best one we've seen in a very long time >> karen, what do you think? >> it's interesting. this is both a stay at home trade and a reopen trade you have the parks and cruise and what not obviously reopen and the whole streaming business which has been the story for the last year and a half or so i think it's come down a lot that doesn't mean it's cheap it's still expensive but it will always be expensive. it's a premium company it deserves a premium. i agree with guy, not a bad place to get started >> quick thoughts here >> i think all of us used to think that 130 level i agree with guy, but that 130 level seems like a magnet to it. and i do believe guy mentioned in the past disney coshould

acquire or could be an acquire of twitter things to think about here >> check out the cnbc investing club newsletter, all the information to sign-up is right there on your screen coming up, the salesforce setup, the dow component reporting results tomorrow after the bell we'll break down what you can expect. fast money live from times square we'll be back in two

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check out shares of salesforce surging higher in today's session. the software giant reports earnings after the bell tomorrow hey, mike. >> hi, melissa yeah, so we saw salesforce trading well over two times their average daily options volume we also saw a call-out pacing puts about 2-1 right now the options market is getting longer by about $20 million worth equivalent less than actually the moves over the last two quarters 300 strike calls were the most active ones, the ones that expire at the end of this week, about 4,300 of those traded were

about $6.80. >> what are your thoughts? >> after their investor day their focus should be on margins here for a stock that has not knocked the ball since q2. i think their commercial business is growing, and i think it's not cheap and never is cheap. i think the stock's going to respond to the margin commentary management give at investor day. >> guy >> you had a quick move from 311 down to 280. that 8.5% move makes the setup pretty good. be aware on this one dan talked about it being the best looking chart out there i think this decent pull back is giving you an opportunity on the long side. >> and last time valuation stocks were no longer in vogue, in which case out the window >> that's exactly where my head went

as long as the market keeps on this path what it's doing right now where it seems like rates are going to stay low, this is definitely a tail wind to the growth cap tech and to the long tech segment as well >> for more options action be 30.mw o tune into the full sho 5: p. eastern time up next, final trades. ♪ ♪ ♪ ♪ ♪ ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina?

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back on final trade. let's go around the horn tim? >> qualcomm displayed a huge move, 45% off that bottom, still cheap to its peer group, and semis continue to run, qualcomm. >> steve grasso. >> twitter, human nature is to sell it. i get it i think the stock is going to rally, going to bounce from here >> chairwoman? >> yes, so over the last year the oih and underlying comodties spread has moved around. it's near its absolute widest.

>> guy >> you think the mets had to do sherza for their fan base? yes or no? >> had to, yes >> see that? it really is amazing amat semi equipment name sold off a little bit >> thanks for my mission is simple, to make you money i'm here to level the playing field for all investors. there's a bull market summer i promise to help you find it. mad money starts now hey, i'm cramer. welcome to mad money i'm doing many best to try to mk you some money call me. they lost again.