lot of pressure on data emphasis i feel like those data increases are gaining increased importance people are on edge about a recession. >> certainly are more fed speak you have an air pocket until the next meeting thanks so much great weekend, everybody "fast money's" now right now on "fast", a long december, and it's not looking like this year will be any better than the last is that a reference? stocks ending the week like the weather here in new york city, wet, cold, and dreary. is there any chance the market can heat up before calendar hits 2023 plus, charting for financials. chart master here to sing the blues for investors who have been holding on to banks black stone, the fcc looking into its $70 million fund with shares down 18%, our traders

weigh in this is live money we're live at the nasdaq we start off with a rough end to a rough week major indices closing in the red. s&p down a quarter of a percent. this week's pain adding to the hurt we've seen this month markets all on pace for the worst december since 2018. and a couple big name stocks have been hit particularly hard. tesla dropping nearly a quarter of its value in the last two weeks. lulu lemon, united airlines and zom posting bigger losses than the rest of the markets. should you still steer clear in the new year let's take a look at some of these battleground stocks. amazon, that's down 9%, more than 20% this quarter. the stock trading 4% away from pandemic lows but wall street

named it a top pick for 2023 average is 50% higher. what is next for amazon? tim, i go to you. >> for amazon we've marked to market their e-commerce business we know there's head winds in aws and talked about cloud being a competitive place, but i think you've reset a lot to me this was a covid winner. the days go by so fast, i believe, if we're still doing that and if you think about it, seems like just yesterday this was the stock that everybody had to own. it's absolutely not. you've reset everything. i think there's a free cash flow inflection coming for the company. sum of the parts, whatever you want to do i like amazon. i think this is a stock that's underowned. >> j.p. morgan came out bullish on amazon saying this is a compelling opportunity i don't know if you buy into that they're saying they're able to push their own inventory as well as third party and have a multiyear lead in cloud with

aws, so those are some reasons why. those are also some reasons you may not want to be in amazon in term of head wind to the consumer in addition todd cloud. >> two sides of a coin well said. if you're looking at the four multiple you're looking at 40, 45 times probably room there. i think they probably have much easier retail scoring comes four i don't know if there's a rush given what we're seeing from the market, given what we're hearing from the fed, given the price action this week and over a longer period of time, the kind of rush in for that cloud or any other enterprise related conversation you have the consume terk cloud, which you expect to give a bit more multiple premium, but as the fed looks to right the labor market i'm not sure you necessarily need to be jumping in front of that train yet >> what do you think, dan? >> you guys all laid out the fundamentals this is a stock that's traded off sediment more than valuation

after the history of its post dot dom implosion. covid level in 2020 was 80 bucks. i think we hit that and go through it we could probably move to the b block. i think all of these stocks, you can just wait. >> i'll just skip you for the next ten minutes. >> what i'm saying is this is a stock -- doug at j.p. morgan is a great analyst, and he's not thinking about the next two, three months he's thinking about where the stock's going to be a year from now. i like i i'd start at $80 i bought it had a nice run. i sold i'm looking for another opportunity to do that again. >> isn't this one of these stocks that has had that pullback so in term of wait -- apple is one you wait on. amazon is a high multiple stock that's been beaten up in a way that some of the others still have to go you don't have to rush into

amazon this stock's been destroyed. it's down 20% from precovid levels, unlike apple which is still up 60. >> let's get to apple. the one-time market stalwart breaking through november lows, 3% what from its low of june does the stock see a rebound in the new year guy. >> hi. want to say hi to adam durrwitz. he's a huge fan. >> hello, adam. >> say hi. he's a huge fan. i'll say this. i think apple is a buy next year, but it's going to 125 first. tim's been talking about this a while. it's still an inexpensive stock. if it continues to sell off, apple won't be immune to it. that will put it into a much more reasonable valuation than where it's currently trading. >> bonnawynn you think you wait until 125. >> if i'm waiting on amazon i'm

definitely waiting on apple. honestly, of large cap or mega tech cap names, this is one i'ming are to wait the longest to find an entry point for. >> i have been saying 125 for a long time. i don't think 125 is the level. >> lower >> apple rallied almost 65% -- excuse me, 85% from june 2019 into that feb 2020 level that everybody is earmarking. then went a to rally 180%. you bought apple at the start of covid or precovid levels at levels i think priced in this services business, the recurring revenue -- it's not a hardware company. i know we know we're going to keep buying these phones, but not at 24 times forward the structure of the market argument everything we say, people are all, why do you hate am so much?

i love apple can't wait to buy the stock again. the free cash flow, the buybacks, the bond yields that they can distribute cash on. some of that stuff is yesteryear, but i think there's time to wait. >> it's not about liking a stock or company or producten it's about whether you like the valuation where it's trading right now. >> i love their products and i can see a level between that so far from where you guys are talking about where there's fear at least in the investor base about what the future is going bring for apple. we know they execute well in a difficult environment. if we're talking about banning tiktok in the u.s., don't think for a second china's not going to retaliate with apple's app store inchina. aggravated environment between school bus the chinese on the economic front and then reshoring or bringing jobs away from china, that's going to be expensive some that's going to hit these margins. these margins have been coming

down in apple for a bit some i think you have to wait on this one, too. >> united breaking down after boeing announcing an order of jets tim had been bullish on the airlines still are? >> i think airline ceos are the only ones saying anything good about their business you have to wonder why any ceo would say anything because it's time to kitchen sink it. delta's balance sheet is the best in the business i listened to the investor, heard about free cash flow that's probably going to double in 2023. i think airlines look interesting. recessionary head winds are going to be people traveling less they're traveling less than they were they are sitting in the front of the bus, going back to work. i think airline, the valuations for those that haven't inflated their debt profile are very interesting. >> i think ual was a teenager at the height of the covid. i don't think it's trading there again. tim says it a lot -- when things

start from really bad, which i don't think we're there, but to start only sort of bad, and that's going to take place next year this stock valuation is not a concern, although delta is probably better situated if you want to get ahead of airlines do it mid january, february. lulu lemon unable to recover. stock on pace for its worst month since may. can the athletics company face a rebound in the new year? the chairpersonwoman -- bonnawynn, where do you stand on lulu >> they marketed the inventory sells at strategic they had a multiple and they deserve one. they're able to raise prices when you were seeing promotions from a lot of other companies. with that said, when they finally see that situation turn, which they did with its inventory bill, i think there's a lot of room between what you've seen from the other

retailers and what you've seen from them in terms of price action until that gap started to close, i think we got to stay away from lulu as well going into christmas. >> we all like to look good in the gym, right, guy? >> why do you say that right, guy >> he really means, i like to look good at the gym. >> he throws it at me, and now he's the good guy and i'm the bad guy. >> i never wore lulu lemon to the gym. i'll customize this shirt. >> you go to the gym >> once in a while it's not obvious, at least for some people. we're going to get into a place as we get into next year, i think there's pressure these trends are alive and well. we're going to talk about nike in "options action" after this show i think there's a lot of comparisons between nike and lulu in terms of discretionary, cream of the crop, dtc, companies you should pay a

premium for. do you need to pay it now? not what i need chase. >> can't mention december laggers without mentioning tesla. shares getting within 4 cents of the 150 trading. the stock lost more than $760 billion in market cap this year alone dan, let me guess, you think the worst is not over. >> well, i think the worst is not over for this story. could the stock pop soon violently? sure elon has been the biggest seller ceo of the company he's one of the reasons why i think a lot of people invest in it i think he hold close to $40 billion worth of stoke over the last year some to me, he either knows something or -- the fact that he's swapping tesla stock or twitter stock just makes absolutely no sense. could it rally sure is it investable i don't think so you just mentioned november 2020 that's when standard and poor's announced they were going add

this stock to the 500 index. it doubled in the next month doubled. just think about that. here we are, i have been in the camp -- guy's been saying 150. i think it's going round trip to 140. when it overshoots it has to potential to go down to 100 bucks. >> we work for nbc nbc umbrella i only mention that -- that's the holiday season my favorite holiday movie is "it's a wonderful life." >> i thought you were going to say why the christmas story. >> snow miser heat miseser. >> that's claymation. >> any way, there's a scene in it where jiminy says potter's not selling, he's buying he's trying to stop the run on the bank guess what, folks? elon's not buying, he's selling. that's all you need to know. >> deep. >> if you look at the chart and where elon has taken the stock from the moment he reasserted,

i'm going buy the stock, this is down that tells you what you need to know. up next, blues in the -- the chart master is here to chart the course ahead later, shipping rebound. fedex reporting results next week, the stock bouncing back afteitbralr s ut slide can it stay high find out "fast money" will be right back. you know, it seems like hope and trust are in short supply. [clap] now, as businesses we can blame and shame. or... [whistles] we can make a change. [clap] we can make work, work for our communities. create more equal opportunities. [clap] it's time for business to show its true worth. because it's not goodbye, world. it's hello, team earth. [clap]

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welcome back to "fast money. regional banks hit hard again this week, putting themselves on pace for the worst month since march of 2020. the etf losing this month. and the chart master says there's not a lot of hope for this master. let's bring in carter worth. >> let's look at the charts and figure it out together the first two charts are two panel charts, and what you see here is -- and this is sort of important. the top panel is the kre moving higher the bottom panel is relative performance. of course to the entire financial sector as measured by the xlf. but that vertical orange line, that's the presidential election 2016 rates popped dramatically.

we were trading at maybe -- what was it, sort of -- we popped almost 100 basis points right after the election i think we went from 1-3 to about 2-6 before christmas of that year. yet look at the relative performance. that was the peak. regional banks got their list. underperforming ever since let's put lines in arrows to annotate more. even though regional banks keep going higher they kept faltering relative to other choices within the sector take a look at the chart of kre itself if that's not a topping out poor nation, then i don't know if one exists you have a break in trend. you have a well defined formation. doesn't matter whether you call it a head and shoulders. fi finally, comparative chart not relative this is the story of financials.

those bottom two laggards, that's money center and kra. leading the way is s&p this has just not been a good area what now would make it a good area as we're going into a period of sort of economic contraction or at least slow growth >> carter, thank you we will see you shortly on "options action. carter braxton worth of worth charting guy, how you feeling about the -- >> he's right. if you look at huntingdong bank -- it's not traded well it's gone from 16 to 13.5 in about a week these stocks are telling you something. i think it's a sort of a tell on where the consumer is. look at american express just anecdotally. that stock is not traded well the last couple of weeks credit is going to be a concern, and if credit's a concern, these banks are not going to trade well. >> that's crypto xposure, whic

is a top component of kre. >> that's weighing down that in index, but look at the bank of america. we talk about this a couple weeks ago when moynihan, the ceo was at the goldman conference, and he seemed to change his tune a little bit he and jamie diamond that strok dropped 70 in a straight line since he spoke at that conference. go back to what guy said, when you look at names exposed to lend and the consumer in general, their underperformance right now is really troubling. >> not allocating new capital to regional banks, and not even money center banks i just think we've seen this in the market cycles and phases where banks were certainly sold first, questions later in term of credit exposure i think right now the credit concerns at least for the market are not where they were. as we get into next year and see the slowdown i think you're going to start having this

conversation with banks again. i don't think you need to chase them i think the money center banks are at a different place citizen financial, trade is cheap, 4% dividend yield not a reason to go out and buy it. >> bonnawyn. >> you're not getting that same free structure, even if deals are drying up. you're not getting this fee structure. what you're subject to the consumer lending and credit environment, and as we've all said, we kind of see that taking a bit of a nosedive going into 2023, so that's likely why you see the weakness there they simply don't have to upside the other money centers have. coming up arc blackstone buzz kill. the latest headlines driving the stock and where it's going you're watching "fast money" live from the nasdaq back after this. for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins

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5, 4 3, 2. you are down to your last life. i am not really a math guy. rated pg. welcome back to "fast money. buzz kill on blackstone. shares down 2.5% today, losing almost $13 a share since tuesday's high the stocks dropping as the fcc looks into the breit blackstone down 20% in the last month compared to a less than 3% drop in the s&p 500. this is one we have been looking at for a while in term of the real estate sector but for blackstone itself, guy, what do you think? >> s.e.c. investigation, now it's probably time you buy the stock, because now -- you think about the news that's come down the pike listen, i said it a couple weeks ago. i'll say it again.

when we had jay-z on -- not that one. >> joe zietle. >> zan calls him out in terms of where real estate was headed he was right now you look at blackstone that's an extraordinarily viable business yes, i understand under the microscope for this, but it's such a small amount of business. i think you're getting a good deal. >> blackstone, john gray got up there, wanted to make it clear, we have $180 billion in dry powder there's no liquidity issue at all, and he's right. and meanwhile, breit is up 9% over rate. at this time retail investor that has been just plowing money into products -- not just black stones but every -- you go around and we talked about the other players that were in the space. that concerns me i think you've got a case here but again, i don't think there's a fire here, and i would agree if you're selling this name on the headlines, you've seen the

last couple of days, you're missing the story. >> this is a bloomberg report. they say the s.e.c. is looking into the starwood product as well it's not just blackstone. >> no liquidity issues and high marks. not a great combination in the market we're in. i said a couple weeks ago, listen, it's not indicative of the product. the gates is built into it i would just say, the really strong likelihood it round trips to its prepandemic highs would be around 65 bucks. >> i think real estate and real estate ajisent has take anne beating and rightfully so. you're going to see weakness in that area. as guy mentioned, though, this headline, given what we've seen from ftx be the whole host of others, you're panic selling, selling and asking the questions later. i think that in itself is self-contained and i don't think that's reason to take the stock lower. >> all right, time for the final trade. >> stop it.

>> oh, it's friday goes by so fast. >> time for the final trade. >> i'm not advocating you rush into retail, but i think if you want to own something in that space, target gives you relative outperformance. >> tim see four? >> stick around for "options action." i'll be on the desk. psyched. emerging markets you have brazil brazil and ewz underperformed. it's not just the dollar strength is behind us, but i think you price in the a lot of bad politics and a couple resource names to the downside that i think there's upside in, brazil >> dan you're glaring at me. >> upside target in this guy's age, he turns -- i don't know what he turns but it's on sunday. >> it's on sunday already. >> potential birthday wish, guy adami. >> me and brad pitt. >> same age? >> yes, same day wise guy

>> seller xle. >> mel, what do you think about the rodon contract we know the yankees had to do something. >> desperate. >> it's not desperate when you get the best selection -- >> i'm not happy about it. >> there's still work to be done in the bronx, but as yankee fans we understand that we don't make rush judgments don't sign benintendi for five years bum you should buy lock heed martin. that thing as going higher, sister. >> that does it for us on "fast" happy birthday to guy adami who turns 10 on sunday "options action" is up next.

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right now on "options action," rough week on wall street ahead, we're breaking down the trades and rates retail casinos and china plus, the shipping blues shares of fedex grounded 30% will earnings help the stock take tliegt? we'll build a strategy ahead of next week's results. and later, a call to action on call of duty. act vision waits to found out the fate of its deal with microsoft. i'm melissa lee. this i