normal on the flip side, those such as imax and others that didn't necessarily see that boost are kind of living in this world where their business models are more set to flourish as you mentioned, geopolitical really taking the cake here. that does it for "closing bell." "fast money" begins right now. live from the nasdaq market overlooking times square, this is "fast money." the four most important charts on the market. with the sell-off showing no sign of letting up one thing they are watching to see where the market is headed next the real read on the reopening check out the after-hour action in live nation and booking holdings calls are underway later, bitcoin bouncing above $38,000 despite the market

pullback we will break down what's driving the action in the crypto trade. another major pullback on wall street the dow closing at its lowest level this year. s&p dropping into a correction the nasdaq falling more than 2.5% today, closing in on bear market territory investors sift through the sea of red, search for the bottom in the market what should you do tim, what should you do? >> i think you always have your playbook you have that list of stocks you have wanted to own through bad times. we don't get overly obsessed with technicals. i think they are a guide post. on a day like today, the fifth straight down day, butyou have closed through those lows, you closed on the lows, and see a lot of charts that we will assess which are really broken, but to me this is a case where -- i don't think we are going into recession we priced in seven fed hikes in the next year. we priced in a lot of fed. i think we have the dynamics of

geo geopolitics and earnings that come and companies not showing great margins. no ceo wants to talk about 2q in is a that's glowing. >> today was a bit of a heartbreaker it looked good this morning. importantly, the market didn't react to headlines around the ukraine like it has been the last couple days you start to think, maybe this is starting to get priced in then it collapsed. it ground lower throughout the day. you ask, what do you do? from my seat, start looking for where the bottom will be look for when everything is priced in. tim mentioned the fed. start looking for when that's priced in. you start looking for stuff like, maybe ukraine is less concerning than it was most importantly, when you start getting earnings when you get bad earnings but good price action, that is probably the third pillar that i'm going to look for to say, hey, maybe this sell-off has gone too far.

>> where are we on the check marks? >> i think we are two out of three. >> guy, does it make you feel better that the sell-off mid session wasn't precipitated necessarily by any single headline or worse >> i feel good he mentioned heartbreaker. great tune didn't make me feel anything bk mentioned it, we are found ourselves since early -- late november, early december, in a paradigm shift instead of people looking to buy on sell-offs, people are looking to sell on rallies today is a great example we have had four or five examples over the last couple months i think we changed for the time being. i don't think we are in all that healthy environment in terms of the market tim pointed out where we closed today. that's on october lows you could see some violent countertrend rallies

it feels like 4,000 is in the crosshairs 3,750 is not that far away. >> that's interesting you mention that level that is the level that a lot of people say is a level the fed put. karen, do we think there's a fed put still? do you think there is? >> i don't really. i don't think there's a fed put. there used to be i didn't know there was at the time i don't really buy into that i think the only scenario where they are not the only but the most likely scenario where there's a fed put, something else has gone very wrong that would make you not want to be long from right here i think the fed is going to do what they gotta do, which is the opposite of having a put they are taking the put away today i thought was really interesting. i also thought it was interesting that it didn't seem to be a reaction to what's happening in the ukraine it seemed to me to be more fed

focused and valuation focused and just more sort of froth coming out of the market i think one of the things brian talked about was good reaction to bad earnings. that will be interesting right now we are still in the bad reaction to good earnings. >> to bad earnings >> think about lows today. what or bad, right. bad to bad but bad to good. going back to -- not a good reaction i got my list out. i was looking hard i didn't do anything today i'm inclined to do something tomorrow i am always early. it trades lower than where i buy it there's a lot of things i want to buy that i think are overdone anything can trade lower but i think at some point in the future, i will be happy to own them

>> karen mentioned the fact that the fed put is probably someplace where other things have gone wrong or something breaks what do you need to look at to determine that to me it's the bond market high yield if you really start to seethos spreads blow out, that's when you start to get concerned that's when the fed gets concerned. if you look at the spread levels that would correlate with 3,800 to 4,000, we are not there yet we are getting there that's where everybody is starting to talk about this fed put. that's where the bond market starts to break. that's where the fed gets to be concerned. >> i think about, what fundamentally is different today or yesterday i know russia and ukraine is a big fundamental. i think we had this conversation last night to what extent do we feel market action is really this dynamic? we said that the fed will not be moved by what happens there. it gets back to sentiment. technicals, if you look at the investors intelligence poll, back to the lows of 2000 in

terms of investor sentiment. mortgage reads coming out. the housing market has so much to do with confidence consumers have i just think when you look at where stocks have, there has been a major correction. we talk about this all the time. if you remove the top five market cap stocks, this correction is actually a technical bear market. it's probably a technical bear market for the s&p when you look at everything else some is positioning. we have gone to some extremes. i this the fundamentals haven't changed in the last couple days. >> where are we headed next? let's bring in katie stockton to break it down for us you say the momentum is to the d downside >> that's the most important takeaway a correction has a hold on the market that means that mac d indicator

which drives moving averages is pointing lower it's diverging that reminds us not to be too early in trying to find that tradeable entry point or intermediate term low. we have seen oversold conditions return but not yet for the s&p 500 index on an intermediate term basis it's close but not quite there yet. >> are there sectors in particular that look like they are there versus others? >> you know, i would say on the sector fund, we have classic defensive rotation we have seen out performance from consumer staples and more recently health care and utilities. that is not really the stuff of a strong tape, as you could imagine. from a bottom up perspective, look at high growth names, they are deeply oversold. that's not even just intermediate term but long term. if we are looking for opportunities, which we are not really doing that on behalf of

our clients, but rather we are watching and waiting for the major indexes to bottom. they can source some things that are long-term oversold they have been trending lower, not just since january, but perhaps for several months >> katie, when the s&p was making a new all-time high, the nasdaq couldn't do it. some technicians would look at that as a double top i don't think -- i think the nasdaq looks worse than the s&p. what does your work tell you in terms of that? >> we have seen relative strength deteriorate, as you could imagine, behind the nasdaq 100, which is tech heavy and mega cap weighted, versus the s&p 500. it's not a dramatic breakdown. but i would agree, we have more breakdowns in those mdx components the momentum is worse.

we saw that today. i think the nasdaq index was down 2.6%, taking out that january low, a minor support level. the levels that we are watching are very much in play as we speak. for the s&p 500, about 4,200 is a support level that we have been watching for some time. it was effectively tested successfully in january. now this retest looks like it might be unsuccessful. that means we see a short-term breakdown. we have that in the nasdaq 100 underway that suggests we have a little bit more room to the downside for follow through before we get that treatable low you were talking about sentiment. that's really important. sentiment does need to get overly bearish at times to get us that low. i'm afraid we might need another downdraft, even a gap down to get to that point where sentiment is washed out. that's the stuff of those lows >> katie, what scares me most when i look at the charts -- you

talked about the duration of where we sit in this mode. the nasdaq has traded below 200 since mid january. we haven't really had an extended period like this. if you look at the slope of the line, it's flattening out. we haven't had a downward sloping period since 2016. does that worry you? is that a place you think we can go that would take out a lot of long-term momentum >> that's right. what you are seeing is that long-term momentum shift it started to manifest a little bit in q4 of last year we look at the monthly mac d indicator. we have a cell signal-- it does mean anything for the near term. we are in a different environment. i think at best, we are in a trading range environment for this year. if you make a comparison back to 2018, it's pretty reasonable from a technical perspective to suspect we will see a year

that's very similar in its nature where we see first downdraft followed by a mid-year relief rally that's very tradeable in nature. very important for folks to take advantage of if they are trying to beat the market another downdraft into year end. that could be a good playbook for this year, based on that loss of long-term momentum you do cite. it tells us we have to be more intermediate term in our time horizon, trying to take advantage of the next two to three-month move as opposed to the next two to three-year move. >> great to see you. thank you. >> you too >> katie stockton. before we move on, a gap low -- gap down lower, a big washout, if we haven't gotten it based on a lot of the headlines, i can't imagine what's going to get us there. >> right that's the real question right? that would be exactly what i'm looking for. you gap lower, reverse higher. to katie's point, even if this is a bear market, bear market

rallies can be pretty vicious. they can be great tradeable lows. >> katie laid out her charts it's our turn to figure out what the most important chart you should be watching for a real read on what's ahead tim, kick us off what is your chart >> be careful on the most important chart out there. i'm going to tell you, you better watch fedex if you want some understanding of not only where cyclicality is but more importantly, logistics dynamics we have seen we spend a lot of time talking about them we talk dow theory on this desk once in a while. it says that the industrials or transports could pull the market in a particular direction. there is correlation in fact, if you look at fedex, it has underperformed. if you look at the 215 level today, it is really a level that doesn't have a lot of support

below. it almost feels like the transports and fedex, the biggest transport, is going to pull them down this stock is struggling >> guy, what's your chart? >> i'm with tim on fedex a great one. two-year low hyg for me not that this trades particularly robustly. matter of fact, it's a sedentary etf. i think it's important karen mentioned it last night. i'm glad she did we talked about it before we went away. when this starts to move, it has happened a number of times over the last five or six years, it's a precursor of a bigger move chinese devaluing during that time talk about as recently as what we saw in february and march it is starting to roll over. doesn't seem like a big deal i think it's a big deal. >> karen, you did mention it it was your final trade.

>> yeah. it's my final trade short a couple of times. when credit markets start to get messy and rate goes up, it has two things against it, rate move and a credit move. for me, it's a decent hedge. thanks for agreeing with me. >> what is your most important chart, karen >> i'm not really a chartist it's more pieces of information that you make a line through which is cpi to me, cpi, it's inflation, it is the thing that will just absolutely tie the fed's hands on how aggressive they have to be they have to do something regardless of even if it is somewhat transitory and comes back down, they have committed to this path, they have to go down it. if it starts to really get well beyond seven, which is a crazy number, i can't believe we are talking about that, they have to be more aggressive we agree, today was more fed

focused. it wasn't ukraine. cpi comes in hot that's going to be bad in the short term. >> for me, let's just say it's right with the fed i mentioned the top of the show the three things i'm looking for. i want concrete examples of that things i can point to that's priced in. i look at the number of rate hikes that the fed -- that's priced in by the market. we are pricing in seven plus rate hikes right now that's in the bond market. that means that market participants are expecting that. world war thiii, i put that down because it was trending. it appears based on the action today in the market that the market has said, okay, the worst of ukraine is priced in. now we need that last thing, which will be that kind of gap and reverse on bad news. we haven't seen it yet that's what i'm looking for. >> it's interesting, because three of the four charts -- mine was the one stock specific

but you hit on the macro is the most important thing guy hitting on -- and karen last night on hyg, the ultimate boogie man is a credit crisis. we are nowhere near that we are not near a recession. think about all the companies that have georged on debt and free money and all the companies that aren't making money the real read on the reopening. we have earnings alerts on booking earnings and live nation what they are saying about the future a housing alert. the number that could pour cold water on the red hot housing trade.

a jelly bean that's good for you? nature's bounty introduces new jelly bean vitamins. good-for-you nutrients in a tastier for you form. more sweet dreams. more flavorful immune support. new nature's bounty jelly beans. live bountifully. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this.

this is the planning effect. so you can enjoy more of...this. nurse mariyam sabo knows a moment this pure... ...demands a lotion this pure. new gold bond pure moisture lotion. 24-hour hydration. no parabens, dyes, or fragrances. gold bond. champion your skin.

if you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. welcome back to "fast money. earnings alerts. the realreal, a beat on revenue. you have been pounding on this name what's your take >> the top line was good the expenses were high

it was higher than i would have thought. i got a chance to look at it quickly. they talked about some warehouse labor issues from omicron, which hopefully that's a one-time thing. the thing that i didn't like was, the etch pexpectation of profitability was a year later than i thought i do like the revenue guidance, which was higher revenue is great, but you gotta get your expenses under control. i want to hear the call. i think it's starting now. i will listen to that tonight. clearly, a very, very disappointing one. >> anything so far, karen, that makes you rethink your position? >> besides it being down so much there's that. >> the profitability target. >> that's not great. when you think about how much it's down, i think that's -- when first got involved, it was people would look at it, price to sales and things like that,

and sort of be okay with the non-profitability. this is not a market for a company that's not profitable to trade well they have to get to profitability to get it to trade well >> i don't think many people doubt the opportunity of this market, guy. but the bear case has been about getting the expenses in line can you do this? can you scale this properly in order to run a business? >> i think they will figure it out. karen does extraordinary work. my sense is she will be right. i know personally when i go out shopping, the only place i look is the realreal. not that that should influence the stock. the level in 2020, february of 2020 when everything cratered was 5.75 i don't think it will get there. at some point, you wonder if this is an acquisition target for somebody. >> would it be, karen? >> she's not a guest

she's at home. >> they are the leader in that space. what did you say >> i said, you don't deserve guest status you deserve queen status >> home team isn't it fun to be there it's good, right >> if this wasn't such a bear market, i would have come out and hugged melissa at the start of the show. >> we might throw in a taste test there's time we will get to that. we are just getting started. here is what's coming up next. >> the earnings keep pouring in. these names are giving a real read on the reopening trade. how should you play it we are cruising into crypto. our bitcoin baller is bringing you the truth on the trade how you should be playing the space next

alright, so...cordless headphones, you can watch movies through your phone? and y'all got electric cars? yeah. the future is crunk! (laughs) anything else you wanna know? is the hype too much? am i ready? i can't tell you everything. but if you want to make history, you gotta call your own shots. we going to the league!

welcome back to "fast money. two real reads earnings out from booking holdings and live nation full team coverage to break down the results. we start with kate and the latest on booking holdings >> booking holdings with a beat on the top and bottom line thanks to a rebound in travel demand it got a boost after hours it's dipping a little bit. revenue, more than doubled in the fourth quarter travel bouncing back, even in the face of omicron. it swung to a profit in the fourth quarter after reporting a loss the same time a year ago. travel bookings of all travel services booked, net of

cancellations, that jumped 160% from a year ago to $19 billion it's the parent company of priceline, kayak, open table executives say, they are encouraged by, quote, meeting full improvement the rosier travel picture echos what others have reported. executives say it could see the impact of covid. it's planning for certain periods when it could negatively affect travel. we will hear more about the quarter from booking holdings' ceo on "squawk box" tomorrow 7:45 eastern tune in to that. >> thanks. the stock just dropped to 5% lower in the after hours let's get to julia with the latest on live nation. >> live nation shares are higher right now in after hours on a bullish outlook.

the revenue surpassed expectations, $2.7 billion in the quarter versus 2.05 projected. the company's bottom line results did fall short of projections, losing 96 cents per share rather than the 54 cent estimate shares are up over 6% by concert giants saying sales are up double digits. they have sold 45 million tickets for 2022 shows that's 45% above where they were at this point in 2019. they say sponsorship commitments are up double digits from 2019 live nation's ceo is saying on the earnings call --

live nation shares are up 6% after he said he expects the year will deliver record financial performance. worth noting the stock is up 63% over the past two years after going on quite a roller coaster during the pandemic. >> thank you two charts tonight two reads on the reopening one of the charts isn't like the other. we also heard from new york city's mayor he wants to phase out proof of vaccination requirements for indoor dining as well as other venues target dropping mask mandates nationwide we are getting pieces of the reopening. what's the difference between the two stories? >> i think the difference is that this is the first summer you are going to have live concerts again look at booking, what they do, you are talking hotels and rental cars. people could have done that. they hide themselves away.

this is the first summer that you will be at big concert venues before the show, tim was telling me, he is going to bonaroo and coachella. >> are you >> if my family lets me out. judging by my concert attendance, it's going to be a big year i get the trends i get the vip trends i can't afford what bk can in the front of the house when he sees taylor swift. i think it's a case where the margin profile of the companies -- i go back to bookings first of all, 5% or 6% off of its 52-week high a lot of the reopening stocks have been very, very strong performers on a bad tape the question with bookings, part is, it is -- have done nothing overall for last year. i think the key is can they grow north of 10% the valuation is not extraordinary. it's something you stay low. >> booking has been fits and starts

live nation has been steady since the meltdown at the beginning of the pandemic. from here on, guy, which would you rather >> i like this game. i love would you rather. karen was early and most of the time in our world early is wrong. she was early and right in live nation i think the guys and karen are right in terms of live nation. i don't know if my google machine is working or not. they are throttling booking holdings right now i'm not sure on the back of what i need to do a deep dive here. valuation-wise, it's not an expensive stock. they have the eps growth to back it up. i need do a deep dive to see what, in fact, is going on in bookings >> yeah. what do you like about this quarter for live nation? >> everything. there's a ton to like. also they are ahead of last year the summer is the big season they pre-sold some but not all the timing on when the concerts

happen and when the revenue happens doesn't always match up. there's so much to like. my kids, they are dying to go to anything they pay whatever to go to whatever festival. they have been doing that for a little while now it's like, people are just busting out. if the mandates come off -- they are dying to spend money not just buying the tickets. buying the shirt, the extra beer, doing all of that. the sponsors are excited ticket prices are huge the vip packages, the margins on those are fantastic. it's pretty great. not cheap though but it's pretty great. there's nothing like it. >> does it matter if inflation is out of control? is this a subset of consumer that's not impacted as much by a higher beer price or a higher price at the pump? >> i think that's right. this is somewhat of a luxury good you are going to treat yourself. i haven't been out in two years. let me go and do this.

i think this is probably part of the wallet that's carved out it will be less sensitive to inflation. the risk is, as an investor, is this as good as it gets? is this summer going to be it and things trail off at some point, you may start to see that in the stock. >> the question embedded in the, would you rather, i will go to tim since i asked guy and you answered, thank you, for playing by the rules, is how much is embedded in the stock in terms of that big summer reopening and the expectation that things are going to go back and people are going to go out and pay up >> i don't think the margins are, because i don't think we have seen them it's an environment where they can price differently and would agree his assessment of luxury good items i think it's a case, overshoot we have seen this. why won't they overshoot i think they will. therefore, it's going to be a point at which we priced in and pulled forward

i do think it's the case where these things are going to run. >> karen, lastly, you said it's getting expensive or it's not cheap. >> it's been expensive >> it has been expensive when do you cut the cord >> i don't know. they should be expensive they have a unique market position they basically -- they don't own the arenas, but they own them in terms of being able to own the concerts that go through the arenas it's not a recreatable asset many there's room to run >> coming up, the mortgage meltdown applications tumbling to their lowest level since 2019. is the housing trade in trouble? we will break that down. the truth about crypto our bitcoin baller, he is here in the house to lay out what's driving the action and if it's an inflation hedge

at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect.

welcome back

look at bitcoin. holding up despite stock market volatility what do you make of this >> it's actually -- it has, surprisingly, held up fairly well it was almost a 70% correlation with the nasdaq over the last month or so. that is starting to break. what a lot of people are concerned about is they say, you know what, bitcoin promised to be digital gold and it's not my pushback is, it was an inflation hedge. if the fed is going to tell you that they're going to crush inflation, then you don't need the hedge. it's driving me crazy. bitcoin is not an inflation hedge. what do you think about what happened when bitcoin was ripping up to 70,000 and we were concerned about inflation before the fed said we are going to crush it the fed came out and said we will crush inflation i don't need that hedge anymore. we can have a narrative change where something will break or inflation rears up look at agriculture, wheat and

corn, those were up. get another inflation scare. that could be the catalyst. >> why when the fed says we're going to crush inflation does anybody them all due respect to the fed, but -- >> a degree. >> in this area of the world, we don't believe -- >> that's a -- that's a great point. you are starting to see smart contract platforms trade up when bitcoin is down. for now, bitcoin has become a macro asset. >> the fed wanted 2% inflation guess what they got. they got inflation they got it in spades. bk is fired up over this inflation dynamic and bitcoin. i agree. the pullback means the fed is in full gear.

what happened to gold? look, gold is up from 1,100 to 1,900 since late 2018. the move in the last kind of year has been sideways it is picking up momentum. there's an uptrend that holds. it's not like bitcoin. there's different things at work here we talk about where gold lasse a different argument for why you might want to own it >> bk, when you say it's a macro trade, that seems like it makes bitcoin less interesting >> i have thought that ultimately -- ultimately, bitcoin, as it graduates into a full currency, volatility will die down different players. different dynamics in terms of are you going to have these up 300% years, probably those days are going

away that doesn't mean the rest of the crypto, you can't have it. for bitcoin, it's starting to die down everybody who didn't like the volatility and said it can't work because it's so volatile, now it's dying down. maybe it can work. >> in your portfolio, is the biggest percentage in bitcoin still? >> no. biggest is in etherium and smart contract platforms trouble in the housing mart. how should you play it shares of caoinbase down how they are playing this when "fast money" returns

♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq

hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this. your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, like 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 get the best deals on every smart phone. throughout history you can pick the best plan for each employee i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset...

the path is gilded with the potential for rich returns. welcome back a major setback in the housing trade. weekly mortgage applications tumbling 13.1% they are at a december 2019 low. this drop coinciding with a rise in the treasury yield. it's up 11% over the past month. talk about the impact on housing

stocks guy, is this -- there's another dynamic in the market. that's tight supply, which is still -- >> i think you could trade lows on the long side right here. >> why are you scaring people today? no reason to scare people. >> not even the holiday season >> it's way past it's early karen, what did you think? >> i agree i thought it was good. the street thought it was good they didn't think it was that

>> home builders telling a story of something different a lot is affordability a lot of people can't afford the houses. >> it's luxury a rise in mortgage rates not going to impact that super high end buyer. >> it is, but to a point when i look at the housing sector, this is the epicenter of the fed's error. we know they bought mortgage securities while the housing mortgage was taking off. if you want to get inflation down, get -- i don't want to get too wonky, rent tied to housing you have to get affordable i want nothing to do with the housing stocks in this environment. coinbase dropping hard traders are making moves the details are next first, we head out, a message as cnbc celebrates black history. >> i think our country can empower the black community by

making sure it has a more substantial role throughout the various financial institutions in america for example, more appointments in positions at the u.s. federal reserve. the u.s. treasury department the security and exchange commission and, yes, more seats on corporate boards empowerment means having greater access to and being active participants in the making of economic policy in america thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab.

your shipping manager left to “find themself.” leaving you lost. 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 matching your job description. every big idea every game changer every "how'd they do that?" starts here the blank page artists and writers know the tyranny of it well but so do developers, data scientists, ctos the new creators to them, we say let's create something that changes everything ♪ ♪ ♪ ibm let's create

at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. faster than a gig. supersonic wifi. only from xfinity. it can power hundreds of devices

with three times the bandwidth. so your growing wifi needs will be met. supersonic wifi only from us... xfinity. welcome back jim is talking with the ceo of peloton. catch the interview at the top of the hour. you can have cramer delivered to your in box with the cnbc investing club check out coinbase falling hard. while we gear up for earnings tomorrow, some option traders are jumping into this name tony, what are you seeing? >> right now, for the earnings tomorrow, the market is currently implying a whopping 12.7% move on this earnings, versus the 4.6% we have seen over the past three kwquarters

they are trading at 212% that's extremely elevated. one trader is taking advantage of that in implied volatility by selling nearly 600 contracts, collecting about $9.40 this is a trade that's basically neutral here for the earnings event. if the stock is below $175 by friday, they have to buy $10 million by friday. >> tony, thank you guy, what do you make of coinbase >> jp morgan cut their price target they cut it to $345, had is tw -- which is twice where we are now. i admire the temerity behind the

trade. this is going to be sort of the bank of the metaverse. it's probably far away this is way too deep for my swimming ability. >> i didn't think temerity was the word you were thinking of. we will let this go. >> this is a family show >> i'm fully aware tim, do you like it? >> i like it you can do the ratio or correlation between coin and bk's bitcoin you can see it's underperformed. the sense that their business is cyclical is obvious. the fact that this is the core -- at least, they and fdx, there's competition out there. i think there's a huge audience that's untapped for this entity. i think it's worth owning. >> should it follow bitcoin? at what point do you think it is

beyond bitcoin trading there's other things to the business, like custodial services, et cetera. >> right there's our currencies to bk's point if we move away from bitcoin, there's other places for them to go. i like coinbase. in the land grab for wallets, they are in a good position. in the short-term, clearly trades with bitcoin. it came public at the very -- was it the actual day of the very, very top for bitcoin i think it's an interesting asset. i think that if we see ecurrenun a good position. >> this show got skewered for suggesting that the ipo was the top of the price of bitcoin. >> who is laughing now exactly. >> we are not laughing it is what it is. >> but those are moments i have -- they are high sentiment.

you come out with an ipo think about coinbase, you have to take a longer term point of view in five years, will more people be using bitcoin or less if you answer more people, then you want to be in coinbase they have a toehold. they are one of the pillars -- the bank of the future if you want to bet on the long-term viability of cryptocurrency beyond bitcoin, c coinbase is the way to do it >> up next, final trades thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better.

and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. 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

(vo) this is more than glass and steel... matching your job description. and stone. it's awe. beauty. the measure of progress. it's where people meet people. where cultures and bonds are made between us. where we create things together. open each other's minds. raise each other's ambitions. and do together, what we can't do apart. this is space for dreams. loopnet. the most popular place to find a space.

welcome back we have great news our producer and her family welcoming an adorable baby born born february 11th congrats welcome to the fast family, little jake. >> a met fan how amazing? >> who knew? >> a brave child a beautiful child. >> i'm not jacob had a choice. >> look at that.

>> time for the final trade. let's go around the horn karen? >> one that's in the hospital, i don't know why, pfizer trading at a ridiculous pe, nice yield too cheap here >> guy >> jacob will learn what proper team to root for lowe's was good. the quarter was good you see a trend rally tomorrow lowe's. >> tim >> can i say it now? it feels good to be back bk, big virtual hug. this is great. good to be back. good to be with you. emerging markets, russia's loss is brazil's gain ewz, 43% of exposed. this is a trade, if you look at currency these are central banks that have been ahead of the fed ewz. >> bitcoin baller who i haven't

seen since the summer. >> it has been a while you want to be in the energy trade. oih, look what happened today. biden administration may release some reserves from oil oil stood there like lady liberty, impervious to the news. >> thanks for watching "fast money. see you back here tomorrow my mission is simple to make you money. i'm here to level the playing f field investor "mad money" starts now hey, i'm cramer. i'm just trying to help you save some money my job is not just to entertain you but to educate, teach, call me or tweet me at jim cramer. remember when the market was fun and a whole new generation