pretty soon we've got microsoft ignite, and there's rumblings about an a.i. chip from them. and then keep mentioning it, the holiday sales start. >> you start to get retailers and more consumer facing names. in the meantime, major day, major week for the markets. >> "fast money" starts now. live from the nasdaq market site in the heart of new york's times square, this is "fast money." here's what's on tap tonight. yields on ten-year treasuries down 50 basis points from the highs. you won't believe the impact that's having on a couple of key sectors. shining bright. stocks in rally mode as the precious metal climbing back towards $200. are these shares finally ready to play catchup? later, this stock soaring to nearly two year highs on the

back of earnings, and one of our traders says it's one of the best reports they've seen. we'll tell you what it is and find out if you should roll the dice. we start off with the big friday rally on the street as a goldilocks jobs report sent stocks rocketing higher. the dow popping 220 points. s&p 500 adding nearly 1%, and nasdaq leading the group, up 1.4%. all three posting their best averages of the year. smaller than expected gain in payroll increase hoping the fed is done increasing rates. the ten falling below 4.5% for the first time since september. it was above 5% just two weeks ago. take a look at the moves that sparked some of the sectors most tied to yields. homeowners jumping 11% since monday, bestweek in a year. kbe and bank regional etf seeing their best gain in three years. and ryr up 9%, its best run

since 2020, june 2020. so is now the time to buy into this rate sensitive rally? guy, what do you say? >> no way i saw this coming. on monday -- i think tyler was here? who was here on monday? tyler. why are you nodding your head at me? >> i don't remember what i had for breakfast. i don't know. >> we had a whole conversation. carter came on the show and said, listen, rates might back off a little bit here. 88 makes sense in the tlt. i didn't think it was going to happen by friday. it traded 88 and changes today. tim talked about it, steve was talking about it as well. didn't see this coming. with all that said, now's not the time to go racing into the things that ralliied on the bac of this. goldilocks, which i can't believe i'm saying, maybe, but not for the people who are losing their jobs. they were revised down to eighth month in a row in job numbers, which i don't think is particularly good. if the consumers are 70%.

economy and jobs are going away, that at some point has an impact. >> i think there are things people are conflating, which is the fed may be done. a lot of economists walked away, and said, put a fork in it. the hiking is over. that doesn't mean the impacts of what the fed done won't come. it's done, but the effects are not done. >> a couple things here. if the effects aren't done, then the fed should be done. right? so that's -- i could take that as a conclusion from there. i had my wish list. i said rates would be lower, uaw would solve itself or figure it out, dollar would be lower, oil would be lower. we've gotten the whole wish list. so i think we're smooth sailing until year end, so i think you should be buyer. >> every time we talk about strikes i want to say, tommy used to work on the docks, union's been on strike,s the tough. >> i like how you hold yourself back, though. >> let me talk about what i think are some of the

relationships between you've got rates, you've also had a relationship with the dollar, and obviously with equities. a week ago today we were up 6.5% on equities. the move in the dollar to me is something that is part of the next am mission for markets if they're going to go higher. the dixie's given up 2.5% over the last couple days, and frankly, again, that is i think sniffing out fed policy. and i think that is part of at least where we are. higher for longer is great, but today was really one of the first unambiguously weak job numbers. could be revised next month. could be a lot of things going on. i talk about the participation rate. i look where equities came into this period. really not only are we in the best month for equities, but really, where was sentiment? where were we on the s&p? where were we on mega cap tech stocks? takeaway for me is rsf, rtf

outperformed the s&p. it does that after consolidations but does it when there's some sense the broader environment equities are good. >> small caps did very well, julie beal, and that's music to your ears. has the environment really changed in the past week or so for small cap s or that trade? >> no, i think it's really just changed for investors and their willingness to spread out their risk appetite towards small caps. i think everyone feels like, look, if rates are going to come down and now the futures market or pricing or rate cut in may -- which i think feels very optimistic to me -- people are assuming small caps that have more leverage should do better. i think you need to be incredibly choosey, because what's driving that softness is weaker employment, and in the all small caps are going to survive weaker employment. you really have to be choosey,

goldilocks or not. >> i think the other thing we learned this week is we don't need apple in order to be solid in order for this market to go higher. that was a concern going into this week that apple was going to whiff. that's what we got, yet here we are. >> encouraging, no doubt. went from 165 to 178 or so? apple didn't perform on what was a good tape, but that's a good sign for the broader market as well. i guess the question is, when is bad news going to be bad news? because it's clearly deteriorating. ma maersk laid off 10,000 people. they said -- i'm paraphrasing, but they see dire things in 2024. that's one of the biggest shipping company, if not the biggest. >> you said, should we be a buyer a this ratevolatility or the way the rates have come off? so the push pac is should we

have been a seller of the rates spiking? so we should have been a seller of the rates spiking. therefore we should be a buyer of the rates falling. >> does everyone think the ten-year is going up 10% now? >> no, i actually agree with the way guy opened up the show. i think we saw these spikes, and you're probably going to level off somewhere between five and where we bottomed out, 4.5 or so in the ten-year, and i think the market can handle that. >> the ism, 51.8, you're not terribly far away from contractions of the service economy that we all know is the u.s. economy. bad news isn't good news ultimately, but for a market that is looking for the strength and the rally -- and i'm just going with at least the market we have in front of us in terms of a market that was the anxiety where we were one week ago today based upon a ten-year. we were 496, and in that time -- in three days since we got the funding announcement and fed announcement wednesday, we were

494, 495, got as low as 488 today. that's extraordinary. i don't think we're going straight lower on yields and i think there's going to be mixed data ahead. i know gdp is backward looking but i don't think the u.s. economy is falling out of bed. equities as we've gotten out of earnings season, let's be clear, the numbers haven't been terrible. the you think about where we are in terms of expectations on eps going into this fourth quarter, i don't think things are so high here. i don't think stocks are so cheap, but there's backdrop with the dollar weakening up, fed's all the out of the way, why can't we continue to take this higher? >> there's nothing to sayyou can't rally and still believe a recession is coming in 2024 and things will go south then, julie. >> yeah, i completely agree. i it's absolutely possible for us to continue melting up,

people feeling more enthusiastic about fining the g goldilocks happy landing. there was so much pressure on markets in the third quarter. that makes sense to me, but i think the longer term outlook to me looks pretty cloudy, and i would be concerned being overly aggressive on things like cyclicals when clearly if you listen to the transports, they're not in good shape. you listen to certain retailers, they're not in good shape. and this market doesn't have a lot of conviction. if you're playing agency to individual stocks on earnings, if they miss a little bit, their stocks are 10%, 20%, 30% in a single day. to me that tells us we don't have a lot of conviction in this market. >> if we start getting the retail readings that will be an interesting read on the consumer. we started the show off highlighting some of the big moves we've seen on the week in sectors. so regional banks. >> mm-hmm. >> would you -- if we have a

rally into year end, are these still the sectors you want to be in? >> so, if we have a rally in year end, regional banks should outperform. i think that's true. that would assume there's no bad news on the margins in terms of the banks, so yeah, they'll probably outperform. i just don't think that's going to happen. quite frankly, this bond move, now you have -- tweeting on bond volatility. somebody's going get chopped down, and it's probably going to be regional banks at some point. >> staples are doing better and will do better, always do better in a lower rate environment. they were so oversold. i think at some level they marked bottoms for the market. they can continue to play. i think health care is going to work. emerging markets this week, outperforming the s&p. dollar as lower, rate benign, fed's aggressive. and parts of the world -- not necessarily have to be china

even though you're investing in eem, but there is a story out there. an international story that's investable. and i think that's part of this week. >> i would go -- first of all, you're going to see that whiplash effect when you look at the russell 2000. 40% of those companies are unprofitable. so they'll chase them for a week or so, and then they're going to go right back into the max seven. unfortunately for the marketplace you're not going to get that broadening base of things rallying. >> for more on where rates could go from here, let's bring in the chart master, carter braxton worth of worth charting. carter, what did we accomplish with this move in rates this week in terms of the long-term trend? >> sure. well, quite a week. here's the thing speaking quickly about the strength in the market. it's -- there's strength that's benign and there's strength that's special. clearly this is special. it's aggressive, 6% plus in about six sessions. but is it too aggressive?

said differently, is it impulsive, impetuous, knee jerk? i think julie was referring to those in a more elegant way. at 1:00 p.m. today, reed said to me, recession ensured by the s&p -- he was being facetious, of course. but let's look at some charts. the drop in yield from 5% to 4.5%, that channel, which is very clear -- six months in duration. rates go from 3.5 to 5, and now they've dipped back to the lower band of the channel. do we stop here? i don't think so. second chart, there is an unfilled gap. we came back from labor day. bonds sank. tuesday, the 5th of september. and we left an unfilled gap at 4.2. i think rates are going there. does that mean stocks go higher? i'm in the camp ultimately stocks go lower as well as rates. >> stocks go lower as well as rates. >> and that's what you said

prior to this week's move, and yet we had rates go lower and stocks go higher. >> stocks went higher. >> why do you think it recore r lates? >> it's like an if-then statement. if every time rates went down stocks went up, then it would be easy to make money in the stock market. doesn't work like that. so what we know is the dollar is rolling. oil has rolled. all things that weren't supposed to happen. and now rates are rolling. and ultimately i think stocks join the party. but we should -- >> okay. 4.2% is where you see the ten-year going, stocks along with it. how about apple? you came on the show, said sell apple, which is unpopular, and then before the earnings drop yesterday afternoon you also said sell apple. you went in and reiterated that call. where are we now on this? >> yeah, didn't really do much, so not sure that was a valuable call, but let's look at a couple

charts. there's apple. it's a pair of 2s. working its way into the converging trend lines. does it break out? does it break down? it's really what a pair of 2s is. more importantly about its relative performance, it's a bad pick. let's look at three relative charts. this is a ratio of charts. one thing divided by another, how the numerator is relative to the denominator. apple's chart compared to the techsector is terrible. let's look at it relative to microsoft. it's terrible. let's look at it relative to amazon. same thing. if those were individual security, you would say, what is that stock there? it's rolling over. what is rolling over? apple's relative performance to the market peaked more than a year ago. it has been a bad pick. >> all right, so you stick by your sell. >> yep. >> all right. carter, good to see you. thank you. carter braxton worth of worth

charting. show of hands. who agrees with carter that it's a sell? apple is a sell right here right now? raise your hand, please. >> i think it can go to 162. >> all right, guy and tim. tim? >> look at the top. again, if i'm carter and i couldn't even walk half a foot step in his shoes, but 176, 177 was the top of the channel. i don't like the price action. more importantly i just don't like the need to jump into apple here, and based upon the trend, some of that guide, the consumer that's yet to weaken, i'm going to get apple lower. >> julie? >> yeah, i think it doesn't make sense to be adding aggressively. i think you can be a long-term holder on apple as a core holding but i agree they have near term head winds that are going to be difficult. we still don't know exactly what's going on in china for this business, and i think that's the key to understanding the longer term outlook. >> apple's up 37% year to date. apple shook off that post market

sell-off yesterday. so i agree with julie. you don't have to be aggressively buying it, but you can hold apple. >> if you're a believer in the max seven, which it sounds like you are going into year end. is this the top -- is this the one to be in? >> i think it's a safe bet to be in apple. and i would hold it until it breaks the 200-day moving average, which is 171.5, let's call it. i think you're safe to be in a safe bet for the market. >> i think one of the things we could be seeing is not something that's going to happen overnight, but the weighting of those seven stocks as 25% to 30% of the s&p, wherever we've peaked -- have we peaked? i think we've peaked. i don't think we're going to see that again. and that's why the equal-weighted s&p and the move it's had is both i think a function of market technicals and some change in passive versus equal weighted, and i think it's just something we should all be watching. this isn't going to happen overnight, but that's the trend, and the trend is apple's best

days, i think, are behind it. >> wow, and the magnificent sevens' days are behind it? >> did you ever see that move? 1960. >> good song by the clash, too. >> the clash is one of the most overrated bands of all time. go to block buster and rent it for the weekend. >> i'll get the beta. >> the only problem i have -- i agree with everything tim said, the only problem the dynamics changed. we're in a passive investing world right now, so i don't know what changes to mike that d dynamic change. is it time to play catchup? we'll go mining for answers. plus, you can bet it was a great day for draft kings, and one of our traders is wagering the company might have just put out its best earnings po er. asrertve"ft money" back right a this.

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(car engine revs) when you stream on the xfinity 10g network. (engine accelerating) (texting clicks) (tires squeal) (glass shattering) (loose gravel clanking) welcome back to "fast money." miners continuing to melt up in today's session. the gdx coal miners etf up more than 4% to finish in the green. just shy of $2,000 in today's session, now up more than 8% in just the last month. tim, you were just saying today, silver and gold.

>> even before we start singing around christmas, and i think gold, gold, and more gold in an environment with falling rates, falling dollar, slowing growth, inflation under control. this is the environment. guy talks all the time -- i'll let him talk about why the central bank set up for gold is important. what the miners are not doing is keeping pace. this is where carter talks about the ratio charts. this is a great thing to do. look at gold the metal versus the etf. miners lagged. in a higher risk, higher volatility market miners resource stocks don't trade too well. on some level they're higher risk, but the move up in gold goes straight to the bottom line. gold field has been outperforming in south africa. these are some of your big dogs. >> tim, i think what happens with the miners, people say, i don't believe the price of gold, i'm not getting sucked into the

miners. until they start believing in the price of gold. the gdx was close, 29.5. should be trading 36 minimum, then. then we can have a conversation. gold was higher in the wake of yield going higher yields going lower. dollar's coming off. gold should move in this environment so i'm with tim on the gdx. last year was a record amount of gold them year just the same amount over the last two years. it has not manifested in price. they are not the seller of last resort. they are continuing to hoard it. when they try get into it sideways, the market's not big enough to take the amount of dollars that i think are going to flood into the market. >> jewulie? >> i don't have anything wise to say about commodity kmarktr markets. we avoid them like the plague. for long-term investors, it's a no, but i think the technicals

are pretty compelling, i agree. >> so i don't understand the underperformance of the gdx. i don't understand the underperformance of the miners. usually it's 3-1 in their favor. it's the reverse now. when you look geopolitical around the world, to guy's point, a lot of centrals are buying. but when you look at the area, specifically russia, they have been selling because they haven't had access to money, so gold could move even higher if they decide to take their foot off the gas there. >> there's a lot more "fast money" to come. here's what's coming up next. >> announcer: the heavyweights of weight loss battle it out for a spot in your portfolio. a top money manager reveals her top obesity drug stock. and why the two industry kingpins aren't equal. first, someone on the desk is calling it one of the best earnings reports ever. stay tuned to find out why they're wagering on even more

gains ahead for a top betting stock. you're watching "fast money." live from the nasdaq market site in times square. we're back right after this. ♪♪ at morgan stanley, old school hard work meets bold new thinking. ♪♪

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with reliable 5g connectivity. now's the time to accelerate your business. welcome back to "fast money." shares of draft kings topping the tape after posting an earnings beat after yesterday. the stock jumping 16% for its best day since last november. draft kings revenues increased by 57% from a year ago, and it will expand its customer base by 40%. tim, you were the one who said this may be the best earnings report out there? >> i have no position. at one point i did have a

position, felt like i got a gift, traded back. numbers are continuing to build a -- around their business. they are in the pole position in the online sports betting world. no matter what -- and this is why i always was a fan of this space and invested in other sectors to have this story. top line, addressable market growth. we know what's going on with gambling in our country, who you like it or not. we also know these companies were beating each other up and spent everything they could to get market share. the fact they're talking about profitability and where they're talk about it -- i think the street's going to come through. looking at the j.p. morgan report they have them at $1.2 billion ebitda by '26. i'm less worried about the consumer here on some level in a recession and what they're going to be spending but who knows? bottom line is the industry fundamentals are starting the look really interesting here, and this company, those were their best numbers. >> yeah, and even as a

competition is really increasing, pen has espn so they're trying to ramp up in this area. fourth straight market share games for draft kings, steve. >> if you pull back the chart on draftkings, this stock was more than double the price a couple years ago, so i think people have to digest this a spike if you will in the technicals and absorb it. it was moving sideways for a pretty good amount of time. i think you're going to see reversion on the chart and price. i would wait. i don't think you have to run in, but i'd rather make the bet on mgm and go vegas versus go to draft kings. even if you think there's a he'll of a lot of growth left in thement, i would wait. >> i know what he just did. >> i kept walking through it, though. >> no, it's still there. >> sorry. >> i'll pose that question, julie, because i think it's an interesting question. mgm, you do get the vegas. maybe you don't want to vegas. if you believe there's a

recession coming you don't want that exposure because you can sit on your couch and go draft kings. >> i believe that. the opportunity set is so large and their earnings report, their incremental -- as states grow on their platform, they're becoming more profitable quickly. you only get better and better and that widens your mode over time. from the level of execution they're showing they are investing in the right places, and that's already starting to prove itself out very quickly. i like that better from an execution standpoint than people getting on a plane and braving the smell of the cab as you go to the casinos in vegas. it's not my favorite. >> did you have a bad experience, julie? >> bad firsthand experience. >> they smell awful. >> what are we talking about? >> taxicabs in las vegas. you're a taxicab driver in las vegas, we apologize. >> they're some of our biggest

viewers. >> they were. >> no, not the drivers. it's just, like, think of, like, the people that they're picking up in vegas, right? the backseat is what smells, not the front seat. the backseat is the problem. >> i had no idea. >> buzz kill meantime -- it's a family show, keep it clean here. fortinet hitting its lowest in the year after warning of a slowdown in consumer spend. the stock ending the day down by 12%. this is a terrible report. >> i'm just looking. $50 -- closed right here. this was the low back in 2022. so in terms of support, it's got to hold. good news is traded at six times volume, so maybe flushed a lot of people out. one by one you start anecdotally putting these things together, it's not particularly good, but specifically holds 50 bucks, maybe it's worth a look. >> one analyst said at least the

company didn't just blame macro on this miss and the q-4 kwguid. they took some responsibility and took some comfort in that. >> yes, but it definitely -- i think this is less of a tell on the consumer than it's a tell on enterprise and software and dynamics around the things and networking solutions. i don't know. it's been that kind of a stock that they don't take the escalator down. they take the elevator down. we've seen it a couple types and certainly no reason to jump in tomorrow. >> it's about the product mix. 70% of their business is not growing the way they thought it would be growing, so now they have to increase the other two product mixes which are 20% and 10% a their business. it's going to take some time. i think they have to prove themselves before you put money to work. >> weight loss drugmakers have been on a tear this year, but one top money manager says a name might have gotten ahead of itself. her pick in the space coming up.

plus our chart of the week. we pull pack the curtain on a very pesky disconnect in the energy space. how to play that next. more "fast money" in two. ( ♪ ♪ ) ( ♪ ♪ ) ♪ (when the day that) ♪ ♪ (lies ahead of me) ♪ ♪ ( seems impossible to face) ♪ ♪ (a lovely day) ♪ ♪ (lovely day) ♪ ♪ (lovely day) ♪ ♪ (lovely day) ♪ a bank that knows your business grows your business. bmo.

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. welcome back to "fast money." it was the best week of the year for stocks. all three closing back above their 50-day moving averages. one of the big winners -- today's move coming after a strong earnings report last night. the day before it was on the back of roku's results walmart hitting a record high today. back to its debut in 1972 before dropping late in the day. investors betting they'll attract value hungry retail shoppers this season. earnings less than two weeks away. nordisk stiping but one money

manager lists it as a top pick. lizzy evans, one of the top wealth managers in indiana. she's here on set in town. lizzy, welcome to the show. >> thank you, melissa. >> how long have you been in novo? >> we have been in novo for quite some time. had a great report yesterday. year over year 30%. year over year profit growth, 58%. it's trading close to its 52-week high. had a nice little pullback today but i still think there's a lot of opportunity there. >> how do you think about that opportunity and what's already priced in the stock? >> if you, at the total and how it's penetrated the total addressable market, obesity across the world as measured by bmi north of 30, there's 800 million people that novo's wegovy drug could benefit.

pharma companies are only serving 1 million to 2 million patients so i think there's an enormous amount of opportunity. >> what i thought was interesting was they were talk about the select trial data and how they might see expanded use fda approval within the next six months. we saw that huge pop on the select trial data, so i guess that gets to what i was asking, what is priced? because we see these pops on incremental data points an opposed to when the fda actually grants approval for something and there's actually a market there. >> it's a great question. so goldman estimates that by 2030 it could be a $100 million industry and that novo and lilly will have 80% of the market share. it's trading at close to 40 times forward p.e. that's always the debate. valuation is half of the valuation of lilly, twice as profitable, and if you look at death to equity, it's 21.5

versus lilly at 164. >> i was going to same or similar circumstance congratulations. you're right in term of valuation. steve brought this up and tim as well. at a certain point is there saying, i cash in my chips, move to -- and get the kicker that novo and lilly has right now? >> i think we're still in early stages. you made a great point last night in talking about lilly -- >> i'm surprised. >> unbelievable. >> you made a great point? >> cabdrivers in vegas and lizzy. >> sorry about that. >> but you know there's opportunities for these stocks -- and by the way, we own lilly as well. but tough pullbacks and then they go on and continue to set 52-week highs. i think that's a possibility. >> how about the insurance dynamic to what extent we've seen? for lilly and certainly novo it's been a function of coverage and the esp is going higher.

how much of that is really critical to your view? ultimately there are those that say insurance companies are going to have a problem. it's going to be something that people can't afford, those that need it for the right reasons, blah blah blah. >> i think right now with wegovy, 80% of the patients are covered by health insurance, so the average person is paying 25 bucks a month versus the $1,350. we're also starting to see additional benefits. cardiovascular disease, reducing that by 25%. you have chronic kidney disease. i think that from an insurance standpoint, as you have more and more residual benefits it's going to be harder and harder for these insurance companies not to cover it, and it very well may be a webetter mouse tr? >> if you are a bigger believer in this stock and class of

drugs, then by extension do you have doubts about snack food companies? all the trades we saw play out in the markets, where it would hit the makers of the sleep apnea devices, the insulin makers. are you in that side of it? >> it's interesting. it's going to transform our society and already is, and we're starting to see that in earnings. we are less focus on -- we're looking at the individual company and looking at the merits of that individual company, but i think melissa, it's a great point, and it's a real risk to people are less hungry, they're eating less. what does that mean long-term for our society over the next 20, 30, 50 years? i think it's a big deal. >> lizzy, thank you for stopping by. she's in town from indiana. >> indiana's beautiful. >> marathon weekend, too. >> that's right. >> new york city. >> thanks, mel. >> thank you.

>> thank you. come by again. julie beal, you think this is expensive still. >> it's expensive, but it's expensive for good reason. if i have a choice of an expensive stock that has a lot of quality i'm going to choose that over something that's cheap and cheerful but not really a good business, and i think their positioning is very, very strong. it feels like every single week there's a new indication that that works very well for, the trial data is very strong. i think it's a very easy case to make for this one. it's just expensive, so i think you want to be thoughtful about sizing and how you want to think about that. >> lizzy owns both novo and lilly, but she did sort of do a would you rather in terms of value because novo the valuation is half and it's more profitable. would you agree with is this. >> i would agree on the valuation, i would agree with all the things she said, but given that game, would you

rather, i would rather eli lilly. >> how about you? >> i heard it differently. i heard a would you rather rather. i heard guy bring up amgen. probably the cheapest of all, and when you look year to date, it's only up 3%. i think you're going to have a huge kicker going into the next six months for amgen. >> as someone who's been investing in a different part of the health care space i clearly think i missed the boat on this. i think it's priced to perfection and i wish i didn't think that, but i think the dynamics here are very unclear. the good news here is they've got all these pipelines attached somewhere around the periphery of these agents that are small, nuanced versions of what these drugs can do within the not only weight loss but in terms of muscle mass and other dynamics. i think those are going to be really popular. coming up, mind the gap. we'll find out where crude oil and oil services sector seem to be on two different tracks.

disney on deck to report. we'll find out what we're expecting from the market. fm. the back in two.

have you met them yet? [ gasp ] [ screams ]

welcome back to "fast money." it's time to reveal our chart of the week. check out the dwer generals between crude oil and oil services. stocks were notably higher. it's a continuation of a trend that has been in place quite am time. what's with this disconnect? who has an answer? >> i'll venture a guess as someone who owns slumberger. around the economy, people actually, sometimes they priced it into the economy, they also priced it into the stocks. there's been a lot of mna. i think people are concerned about how it's going to be allocated. when i look at the derailers all we talk about is guyana, the growth and a few choice assets. there's a lot of drilling out there. this company is going to get more profitable. i think it's an opportunity. i look at chevron.

in that time it's decided they're going to raise their dividend. they bought into guyana. i like chevron, too. >> when you look at oil services this is different than the names that traded straight down. they're correlated, not enversery correlated. saudis are responsible for about 9 million barrels per day of opec output. they said they were going to cut back till year end. now there's some chatter they're going to increase production. so you could see oil come down in price. >> interesting. i think the oil sector is like the gold, like a lot of investors don't believe the commodity until they do. i think oil could trade sideways the next month, based on valuation alone -- i'm with tim had beenon this bun for sure. coming up, the options market seems to be expecting

more magic out of disney. the company on deck to report earnings next week. can it live up to expectations or will recent deals leave it looking goofy? and here's a sneak peek at the cramer cam. jim chatting with the ceo of aep. catch the interview tonight on "mat money". meantime, more "fast money" in two. by helping those who need it most. we take great pride not just in the job our team does, but in them as people. our people. and while we're in the business of taking care of others... it's important our therapists know that with benefits from principal, they're taken care of too. (♪♪) you know when you have those moments? that time to reflect. to be like wow... what did i do to get here? (city ambient noise) right. work. you worked hard

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welcome back to "fast money." we've got a trade update for you. steve grasso here sold tesla. pretty quick trade for you. >> it was a three-day turnaround. it was under the pressure that tesla's been under, you saw the sell-off. you saw elon musk say that rates were definitely a head wind, substantial head wind to his business along with other growth yarps inside the market. this one ticked below $200. i bought it, sold in three days, i had to lock in that profit. wasn't anymore thinking there was a turnaround. true "fast money" trade. >> would you get back into it? >> i would. i'd like to see it hold this level, let's call it 212 for a bit. 240 to the upside if rates stay lower. so this one definitely hinges on

what the rate dynamic and backdrop looks like. >> if the markets rally into year end, should tesla rally into year end? >> i don't know. here i was saying equal weight s&p is performing and maybe this is the same. tesla will rally. if the market's rallying to year end, tesla will go higher. but i do think it's possible some of the big tech cap stocks with underperform. meantime, earning season is far from over with a set of heavyweights set to report next week. disney set to report wednesday. earlier this week they set plans to buy the remaining stake in h hulu from comcast. tim, you like disney, own disney. paramount seemed to set the bar higher. >> that was nice stuff from paramount. they also talked about higher

content costs, though, and i think disney's, i don't think, going to talk about that. disney's a bit of a cost cutting story if anything. clearly a better quarter for the streamers. netflix up 25% since reporting great numbers, holding it and trading higher tells you they're still the top dog. don't own netflix. own it, sold it, expected get it cheaper. i think we will. disney, the streaming is giving to you for free when you own the company. so i like that. >> move in the past two days for paramount -- we highlighted when we were discussing markets overall, but on the back of roku's report, it gains double digited and then today, where are you on the streamers? >> i think generally speaking the best thing that happened to them was the writer's strike. it allowed them to rationalize and think about what to spend and where the returns are. i do think that disney is pretty channels looking at it now here, because across all their

businesses it's a struggle. linear is a problem. sports is softer. i think expectations are high for a turn around. again, we talked about this numerous times. it's hard to cut business. i'm concerned about that. the streamers in general, i think a lot of them are starting to get religion in term of cost cutters. but it's not clear to me how economic the businesses are given their content cost. >> that's not good. >> it's not. every year it's been sold -- we're close to 85 or so? what we've seen is a knee jerk reaction higher post earnings only do give it back some and more, and i think you're going to see it again on november 8th. >> options traders feeling bullish. mike khouw has the action. mike? >> saw well over two times the daily average call volume. right now the options market

implying a move over 12% ahead of earnings. we saw over 5,000 of these trade on a single paying about 34 cents for those, and ultimately over 11,000 of each of those contracts traded by the end of the day. the buyer betting that the stock has the room to pop before earnings which is going to be two weeks from today. we did see other situations like warner bros where a depressed stock did catch a bounce off earnings even if the fundamental picture looks glum. >> tim, is china going to -- >> interesting. we don't need china pressure on theme parks. i will say the theme park business has been so strong and such a major part of the ebitda profile. not expect to hear that, that

would knock the stock down. >> mike, your thoughts on that? >> it's interesting when you take a look at the names, because disney, depending who you compare it to, if you compare to netflix it looks cheap. if you compare to warner brothers and paramount it looks expensive. we do see signs there are cracks in the consumer, rising credit card balances and auto defaults and i have a feeling the discretionary spending is one of the reasons we might be worried looking ahead. >> up next, final trades. as an independent financial advisor, i stand by these promises. as a fiduciary, i promise to be the financial steward that you and your family need. i promise to put your long-term financial well-being above any short term transaction. everyone has a big picture. my job is to help you invest in yours.

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on either side, and at your ideal level of comfort. your sleep number setting. and now the new queen sleep number® c2 smart bed is only $899. sleep next level. shop now only at sleep number final trade time. julie beal. >> you know, the home builders always give me a little bit of heartburn, but simpson ssd gives you structural support for the home builders. you don't have to get the geographic right. >> tim? >> shout-out to audrey watching at home. ewz brazil. i think it has room to run. >> hello, audrey.

>> west rocket traded up in the a hurry. expect it to go higher tomorrow. >> what's tomorrow, mel! >> saturday. >> happy birthday, melissa lee! >> whoo! >> 32, the big 3-2. >> 3-2 ainga. >> eagle mines. >> all right, my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. hey. i'm cramer. welcome to "mad money." welcome to cramerica. i'm doing my best to explain how this week can open. call me a 1-800-743- cnbc. tweet me