plenty of cash on the sidelines. i can hear mike santoli say, that doesn't matter. but they have the potential to go even higher. >> all right. that's going to do it for us here at "overtime." >> you do not want to miss this exciting week of more economic news coming up. "fast money" starts now. live from the nasdaq market site in the heart of new york city's times square, this the "fast money." here's what's on tap tonight. megameta. the facebook parent hitting new reports and catching a big price target upgrade. is it off to the races for this stock or time to take your profits and run? and a luxury letdown. wall street analysts sounding the alarm on high end spending. plus, novo sheds some gains ahead of a key hearing. shares of gm hit the brakes on a negative call. and hi-o silver.

why one of the traders thinks the stock is about to play catchup. and we begin with the meta melt up. the stock closing at an all-time high today after citi raised it price target to $645. that implies a 15% upside from here. analysts writing the tech giant has a, quote, competitive advantage with instagram reels ad loads and usage continuing to accelerate. meta is the second-best performer in the so-called mag seven this year, compared to nvidia's 130% gain. can the stock keep powering higher? karen, this is your largest holding. >> yes. >> you think it will? >> i do. i think it will, although i think this -- if you look at the chart, i mean, it's somewhat of a little bit of a nose bleed here, so, i think it's possible it's sort of, i don't know, katie would have better terms for it, consolidates, whatever you want to call it, so -- i think to sell some upside calls

here wouldn't be a terrible idea. but i do believe in the long-term story. if you look at, you know, we always come to this issue of how are we going to monetize all of this a.i. spend? and so, they seem to really be able to do it right away, right? and in a tangible way that we can -- we can see. and i also think, we haven't even begun to see how efficient they can become also from a.i., right? they spend an enormous amount of money. we know they're going to spend $39 billion, $40 billion of r&d spend, but they spend $22 billion in sg&a. so, you think you could end up with margin improvement from revenue growth and from running more efficiently. >> we talked about this a long time ago, in terms of all these investments and meta can actually make the investments and apply to their own business, the analysts here pointing out they see this is a clear path toll llm, or large language model roi. so, instead of selling it, seeing if it's going to come,

it's using it. >> without question. we've said it, walmart and facebook are the two companies seemingly able to figure this out, good for them. if you were to sort of back out that whole sort of dark period from the fall of '21 into december '22. >> the meta period? >> i like what you did there. stock went from $400 to $100 over the course of 11 months or so. this stock has been lower l left/upper right. extraordinarily constructive. and despite the fact that karen points out, you're right, this move has been extraordinary. it's not expensive. it trades 23 times next year's numbers and i think it has the growth rate on earnings and revenue to sort of back it up. now with the a.i. kicker, yeah, i think -- when do they report, last week of october? i think this grinds higher. >> how does the chart look? >> well, we have a breakout. and it is pending confirmation. for that, we require two weekly closes above the key level, that's about $543. the stock has been range-bound

for almost the entire year. so, it's really good to see it advance from this range on improved intermediate momentum. i don't think we chase here. at the same time. the targeted objective from the breakout is about 59 $7 with a measured move, which assumes the pra jektry will maintain itself. we have a countertrend t simultaneous with the breakout, saying we have nine weeks of consolidation. >> guy talks about the meta period, the meta spend, everyone has a problem with. the stock was back in the 90s when the meta spend was going on. you reverse that, you call it a.i. spend, the stock's $500 and change. >> well, year of efficiency in between. >> oh, okay. >> to save money. >> you remember the tiktok competition, that's gone to the wayside. so, this is still about ad spend, and he's done a masterful job of not pissing off congress. no one's, you know, bringing him

parading through congress anymore. if you remember, he used to be on those three-hour-long meetings. they've gone away. he's not picking a horse for the presidential election. does the ad spend stay to the point where it eclipses the spend on a.i., and no one seems to care, as long as it makes them more efficient. >> so, would i buy it here? no, i think the market's probably in the -- in the -- i'm in the camp, maybe we test a little bit lower range. i don't think we sell off dramatically, but i think we sell off. >> the focus was all about how a.i. is helping content personalization, recommendations, right? so, that -- usually when you have increased ad loads, what they're seeing based on this personalization, you have increased engagement, there's a correlation with that, and longer-term engagement is what it's all about. in terms of the next catalyst, what do you think? >> well, i would just want to go back. remember when the apple privacy rules hit, and that was -- that was a very jarring to the whole

industry, and yet, they were able to sort of get out of it first, and now that is way in the rear view mirror, as this iteration now has allowed them to do such targeted marketing that i think the spend is -- is still there, and it's still working, so, i don't know, i feel like they -- the momentum is not over, but i feel like the expectation in the stock is getting a little higher. >> and reality labs is no longer a hindrance. it feels as if there's going to be a bleed or a slower bleed of money, but back then, it was -- this is a problem, it's taking the focus over where they make their bread and butter. >> right, to steve's point, in terms of being the poster child for bad internet content and behavior -- >> steve's the poster child? >> no, no. >> facebook. >> thank you. >> thankfully tiktok kind of stole the spotlight. and the idea that it could go away is another sort of booster to the story.

>> facebook wins that, without question. reels is part of this whole conversation. they've definitely seemingly have figured it out. the existential risk, if there is one to facebook, to me, is if the economy really slows down, because i think a lion's share of their advertisers are probably small and medium-sized business. with that said, you can make an argument that will work for them, because then a slowdown, facebook will be the one that wins. everybody else gets thrown to the way side. i don't want to say they win in any environment, but if you are concerned about the economy and potentially small and medium-sized businesses slowing down, that, i guess, is your risk. >> we mentioned at the top, katie, this is the second-best performing mag seven stock. is it the best chart, though? where does it fall? >> yeah, i mean, they do have challenges right now, apple's seen a loss of intermediate term upside momentum. nvidia is stuck in this triangle formation that feels like it will never end, and microsoft has a long-term overbought downturn, so, with its breakout, assuming it is confirmed, which

today's close wasn't great, you know, we would say it probably is the best of the top five. >> what was wrong with the close today? >> near the lows of the day. >> ah. >> so, we like to see the momentum held up through the close. >> wlet let me ask you -- i don want to put you on the spot here. netflix, which has also had quite a run, and i think -- is this a new high today, i think, today, similar of all-time high, closed at all-time high, but a little bit off. and it's had a huge run. >> it has, and it's right near all-time highs. it still has momentum, but if you go back, it does still have resistance from 2021 that it contends with, so, this would be sort of a natural place for it to maybe pause, consolidate, before it then breaks out. it's going -- you know, come back to the top down influences, right? how is netflix, or, nvidia trading, is it getting out of the triangle formation? because with that, we can see the really meaningfully advance still, because they have

consolidated, right? but without that, what's derived from the breakout, i don't think we'll get there. >> katie's right to point that out. we opened on the highs in facebook, 573 and change, spent the rest of the day sort of grinding lower, closing on the lows of the day, though still higher on the day. that's something to watch now. it was a big volume day, which it was not, it was in line with historical volume. but again, one day does not a trend make, but you're right to point that out. >> another to potential catalyst for meta, its connect developer's conference kicking off on wednesday. julia boorstin has more on what we can expect there. julia? >> that's right, melissa. two analysts were out with bullish notes today on meta, ahead of its connect developer conference, which is happening wednesday and thursday at meta hq. now, shares are up for meta over 89% in the past 12 months, gaining just about 3% today after citi raised its target price to $645.

and b of a reiterated its buy rating on the stock ahead of that connect conference. analysts expect the company to reveal prototypes of its new augmented reality glasses, including potentially hold graphic capabilitcapabilities. the company is expected to launch a lower price quest headset. $299 price point. that's down from the current $499 price for the quest 3. the company is also expected to showcase new a.i. capabilities, and some new generative a.i. tools. citi says that new generative a.i. creative tools have potential benefits to advertisers and therefore to the company's top line. new street research writing last week that while meta will share nothing about its ad revenue or its ad business, which is, of course, its core business, that it will give insight into both near and long-term returns of its generative a.i. investment, so, that's what we're going to be watching for, melissa. i'll be there.

>> all right, keep us posted. julia, thank you. julia boorstin. you cited this conference. i -- i mean, how much consumers want to spend on -- guy is like, nothing. >> he's not the consumer that's going to spend it. >> send me to staten island a few years ago, pre-covid. >> fly like a bird and it got you sick? >> two days. >> motion sick. >> not even kidding around. >> i'm sure the technology is better. >> one would help. i digress. >> $299 sounds like a great discount, but -- >> it depends on when it's going to hit the shelves. i think there's a certain amount, i'm usually an early adopter with technology -- >> are you saying that seriously? >> i am. i'm always buying a newer phone. >> okay. >> i think -- >> okay. >> that's the way i gauge it. i bought my kids the occulus, so, there's a different -- i'm willing to give it a shot and see how the technology plays out. does it move the needle -- not

to the point where you need it to move the needle, but it's perception is reality. the more they touch different buckets of revenue, the better it is for the stock. >> how do you view this, the wearable side of it? >> well you , i'm glad it's not main push, that really wasn't working well. just as an aside, i do have in the closet a vision pro, obviously apple. >> the key part is it's in the closet. >> exactly. so, i mean, the rayban thing, it seems to be -- i don't own one yet, i do think it's intriguing. if you go way back, do you remember the snap glasses? >> oh, yeah. >> and the google glasses. i don't know if now is finally the time, because vision pro was not the time. but i still think that the whole driver here really is still advertising. >> guy just got a kaleidoscope. >> etch a sketch. >> you know, you make fun of etch a sketches. >> they're wonderful. >> they're wonderful. if you screw it up, you shake it and you start again, as opposed

to all the technology today, you can't do that. what if i shake this phone, it's going to break. >> you can shake it and it erases what you just typed. >> no kidding? >> yes. i'm not joking. i'm really not joking. >> you can experiment with that during the break. >> i apologize. we have a news alert on novo nordisk. t angelica peebles has the details. >> hey, mel. we're going through the written testament from novo's ceo, and in the testimony, he repeatedly talks about the complexity of the u.s. health care system. he says that novo is just one player in the system and the company doesn't control what patients ultimately pay for their medications. he points outs there's a big difference between the published list prices of drugs and the actual amount of money that novo receives after it gives di discounts. he's saying that the net price of ozempic has decreased by 40% since launching in 2018 and wegovy is on the same trajectory. now, remember, price is the

focus of tomorrow's hearing. senator bernie sanders comparing the price of 0 those drugs to other countries. both around 1,$1,000 a month, mh less overseas. i'm not seeing acknowledgement of that discrepancy in the testimony. he's saying novo's invested $10 billion to develop glp-1s and committing over $30 billion to expand its manufacturing, so, again, we're still going through this, and we'll see if there's anything else. and going to be much more tomorrow. melissa? >> angelica, thank you. and we should note, novo nordisk shares have lost about 10% this month alone under pressure for various reasons including the pricing issue. it's a 21-page document, the testimony, single spaced. so, this is a very long thing. and he really goes through in detail how much they spend on r&d. you can't just say it costs x amount to manufacture a drug and that's what you should sell it at. there's a lot more than goes into it in terms of r&d, over

the past decade, all the facilities that you need for the r r&d, all the facilities you need for the manufacturing, which they are ramping up. >> plus all of the drugs that you try to develop that don't go anywhere. >> exactly. >> so, i mean, we had that interesting woman on from yale who went through only purely looking to get it, what does the manufacturing cost, without addressing any of those other issues, which obviously, you need to, but you can imagine sanders will have a different take on it. >> cost about a billion dollars, right, on average, to bring a drug to market. so, to both of your point, there's an awful lot of money that goes by the wayside, no one ever sees. it's been novo, it's been lilly, and a lot of these other smaller drugs, the glp sort of pipelines that are -- that are very low market cap names, are probably going to be coming into the cycle, as well. that's why you want to be in the xbi which is the small cap index.

>> katie may have some thoughts on this real quick. if you look at this, carter talks about a bearish to bullish reversal. if you go back to may, this could be somewhat of a bullish to bearish reversal, if we close below $122ish, which was the low back in may. so, it's not traded particularly well, as you just said earlier, mel, since the middle of june-ish. it's something to watch. i think actually the support level is pretty critical right now for the story. >> i would agree. it looks like a head and shoulders top. if you take a step back, you'll see the head and shoulders. so, if it stays down below the 200-day moving average, which it just did on the downside, i think it's got a problem from a technical perspective, and we're seeing a broader rotation, i think we spoke about this before, from sort of the winners and the rotating into the losers, so, lilly into pfizer is one. >> oh, lilly into your pfizer, karen. >> well, i have lilly, too, but my pfizer, yes. i know, that would be good. it's been a long time waiting for pfizer to be from ridiculously cheap and a nice yield to something better than that. coming up, shares of intel

getting a bump again today on news of potential big investment. will it enough to help them launch a real turnaround? plus, wall street weighing in on gm and nike, but analysts aren't loving what they're seeing under the hood or in the sole. don't go anywhere. "fast money" is back in two. this is "fast money" with melissa lee right here on cnbc. t keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. ♪ring jingle♪ -whasssssup. -greetings happen. yeah, that's not good happens.

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that's what i do. is that love island? welcome back to "fast money." intel shares jumping again today after a bloomberg report this weekend that apollo global has proposed an investment in the struggling chip maker. this on the heels friday that qualcomm approached intel about a possible takeover deal. shares up nearly 8% in the past week, but down 55% this year. guess who bought a little today? >> uh-oh. >> steve? why? >> i did. this is one of those things -- what does carter say, so bad it's good? i felt like this was the second entity in on intel, so, if qualcomm doesn't work out, apollo's there. think about how much money the u.s. government has given intel. $8.5 billion in direct funding, $11 billion in loans. i don't know how much -- it's probably much more than that. i don't think they're going to

let it fail. and i don't think they're going to let it go sideways for that much longer. and also, do you think the ceo is probably not going to be there six months from now? >> i don't know. >> i don't know. i don't think he is, and i also think that's going to be another pop in the stock. i quite frankly am looking for maybe a 10% pop from here, and i'd be happy. so, it's a quit tck trade for m. this is not an investment. >> katie? >> it's risen into a gap on its chart. that sometimes creates a vacuum of resistance. but the next resistance at the top of the gap your close to $29. now, it's a long-term underperformer, it's a long-term downtrend. that means it has a lot of risk, when you're taking these counter trend positions, but the gaps can create those vacuums short-term. >> companies like -- they buy stock in companies every day, you don't hear anything. why -- is this an investment in the company, is this -- what is this exactly? what are they getting for this?

>> it was unclear to me. >> it's unclear to many of us. so, with all that said, i get it. and steve's probably right and katie's probably going to be right. the problems at intel are far-reaching. you want to play it for a trade, that's fine. but now you've had three, four days of each better news than the next and the stock basically can't get out of its own way, so, if i gets to $25, you pull the rip cord and play it from the short side again. >> so, i -- guy had an interesting thought, why -- if they want $5 billion worth of stock -- >> buy it. >> why wouldn't they? they must want something else for it. i'm intrigued by the qualcomm think. i think that -- i heard stacy raskin, who i think is great, was saying this might not be so great for qualcomm. >> for qualcomm. >> if i were the u.s. government, i really would be pushing for that deal. >> wouldn't you be tapping somebody on the shoulder, saying, hey, why don't you buy some assets? >> yes, i think so. we know it's very difficult

anti-trust environment. i don't think that would be the case here. so, i don't know. maybe it bounces, i'm not really sure, but i do think it's intriguing, that qualcomm thing would be an elegant exit. there's a lot more "fast money" to come. here's what's coming up next. two iconic companies, two negative calls on wall street. why analysts say these names aren't stepping on the gas. and how they expect those stocks to perform. plus, shop til you drop. it seems the luxury consumer has done just that. how retail buyers seem to be all shopped out. and where a slowdown is impacting the space. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this.

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for patients around the world. without pause. for the love of moving our clients forward. for the love of progress. welcome back to "fast money." shares of general motors decelerating on a new note from bernstein. analysts downgrading the stock to market perform. after the stock's recent run, quote, our data signal rising earning headwinds. there will be need for additional cash to meet strategic goals. additional cash? that doesn't sound good, guy. >> no, it doesn't. but their price target is still $53, so -- it's interesting,

given a run. and katie can speak to this. this $49 level has been huge resistance for awhile. i admire the call. i admire it even more if they said the stock run was over, we're lowering the price target to $42.50 or something, which would make more sense in the context of that entire note. >> katie? >> yeah, i would agree. there's strong resistance there, and i feel like these downgrades are less timely than that, right? so, they're not near resistance, they are often into a downdraft. so, it could be timely. i do think that we have downside to the 200-day moving average, which is, you know, 43ish. >> meantime, tesla erased all of its gains for the year. >> we thought no one was going to buy another ev again, we saw gm and ford -- >> cut back. >> saying we're going to cut back. so, that leads people back into tesla, and if tesla's going to beat their -- their car numbers, then that creates a vacuum to the upside. i would probably wait, because i think it's probably preloaded on the bullish side for tesla.

i'd give it time to breathe here. >> october 7eth, delivery numbers. the thinking is they're going to have a prototype of a vehicle, but there will be rides, because it's being held on a private property, where you don't need to have any sort of oversight or you can do whatever you want, basically, on that property. >> that's what people are waiting for. objec october 16th, they report earnings. you are making a case on momentum right now into these events. there's been a significant resistance level. let's move to nike here. negative catalyst watch ahead of earnings next week. an lifslis analysts citing glob macro headwinds. jpmorgan does not expect nike to recapture revenue until fiscal 2027. karen? >> yeah, i think that's not a bad assumption. i think that -- i think also the -- their investor day in

november is sort of now in question, which, i think, if i were hill, i would say no, let's pull it, why not? we always talk about when a new ceo gets there, why not do a kitchen sink quarter, right? >> right. >> so, i think a lot of headwinds in the near term. >> i think the problems of nike that were are going to be the problems of nike that are going to be, i think there's too much competition. too much competition coming from smaller companies that don't need to be these huge con glom rats that they once were. you don't need an under armour. you can have a hoka, or an on, be just as social media, as a nike. i would stay away from this one. too many moving parts. >> katie? >> if your time horizon is days, you're all right with the nike position, but the long-term, and even the intermediate term trend is lower and persistently an underperformer. >> you see that note real quick about nike? i mean, you could hear the same

exact thing just change nike for starbucks in about a week. >> oh. >> it's very similar in terms of the stock reaction, the change in ceo, the problems that they face. they're not quick fixes. starbucks and nike go hand in hand right now. coming up -- actually, before we do coming up -- >> not coming? >> kill the music. >> is the chart for starbucks the same? >> different chart. but also an underperformer. we had a short recommendation out on starbucks. all right. now let's do coming up. volatility relatively muted over the last few weeks, but could that be about to change? what one of the traders is expecting next. and are high-end consumers all shopped out? why analysts are flagging a major issue in the luxury retail space, and the names that could be impacted. we've got the details when "fast money" returns. missed a moment of "fast?" catch us any time on the go. follow the "fast money" podcast. we're back right after this.

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welcome back to "fast money." stocks kicking off the week in the green. the dow and s&p 500 closing at fresh record highs, the nasdaq up, as well. shares of trump media sinking more than 10% today,

after company insiders got the green light to start selling their stakes in the truth social operator. that stock down more than 75% since merging with its spac. shares of hawaiian electric dropping 9% today, after the company announced a stock sale to settle litigation. meanwhile, volatility relatively flat today. actually, over the past month, too, but guy, you are expecting it to pop up again. >> i'm taking my lead from katie again on this. a couple months ago, correctly, she should you would see a spike in volatility. didn't think anybody thought it was going to 60, it did. but that was sort of round one. i don't think we're going back there, but i think mid-30s is absolutely in the cards. steve talked about the seasonality into october all the time, and, you know, vol, 16 to me, given everything that's about to happen in the world, is way too cheap and i think that move on august 5th is sort of a precursor. >> what do you think for the s and. p, katie?

>> we support a higher conviction vix, not just for weeks, but for months. the implications for the s&p 500, they're not positive. i would say that it's a more neutral takeaway, if not worse than that. so, right now, the momentum still there behind the s&p 500. i if the breakout is confirmed, that should get us another push higher, 5935 would be the measured move, but that would be, to me, a selling opportunity to reduce exposure, just because things are looking a little stretched. a big warning for high end retail today. bank of america saying, quote, the luxury consumer is all shopped out, citing weakness in china as a major factor. ulta falling almost 2%. it's down 20% so far this year. senior retail analyst oliver chen is behind the ulta note.

he covers luxury goods and retail. great to have you here on set. >> great being here. >> part of the bank of america note is something that we all know, and that is that there's some sort of a synchronized slowdown across the globe, u.s., a major market, obviously, for retail. there are green chutes there, but the eu is flat to lower, china, the weakness is maybe just beginning. where do you stand on sort of what the macro conditions are? >> we're cautious. china continues to be a longer term issue, in part because of the housing market and consumer confidence. that's a big issue in terms of the way people spend. at the same time, europe's been touch, too. it's been very volatile in terms of geopolitics. u.s. has been better than feared, but the luxury market is still working through a hangover, specifically a lot of aspirational spending. and we're seeing consolidation, because it's not an easy industry, between saks and neiman, et cetera. >> when you think about a secular change or a cyclical move, how do you think about this particular downturn that we're in? >> it's temporary, but a little

longer than expected. because the housing issues and the housing market in china in terms of household confidence, as well, that may take awhile. and china is such a big contributor to growth. but it's -- it's temporary, because the luxury industry is great place to be with a rising middle class at large. our top idea is lvmh, but we're very selective. the gucci brand is having a lot of issues. there's winners and losers. there are certain trends happening, beauty and quiet luxury, but ulta is facing a ton of competition from sephora, owned by lvmh. luxury constantly has to reinvent itself for new, younger customers, as well. >> i want to -- what is quiet luxury? no logos? >> can't talk about it. >> it's the return to cost per wear, and less logos and quality. >> okay. >> and that's a change that's happening with younger consumers, and what's going viral is that.

lo louis vuitton is amazing. their portfolio is so proud. there's loud and quiet and everything in between there. >> when you look at luxury, china accounts for probably almost half of the spend in luxury. and when you see them putting caps on income on the upper end, it seems that they don't want rich people and they're not doing anything to build the middle class. is luxury -- how long is that investment out, a, and b, walmart versus costco, just sold my walmart, should i go into co costco? >> we continue to be excited about costco, because it's all about value and it's global, and a lot of square footage growth outside the u.s. and both costco and walmart are getting wealthier consumers that are trading down. walmart's our top idea, because it's a technology company,plus it's offering tons of value. china's very mixed, in terms of the stimulus and the possibility of a stimulus, however,

devaluing the currentcy is what the government is really weighing. so, the worries there continue for the foreseeable future. over time, it's just such a large and important market, over 30% of the luxury market, over 50% of growth, that will continue to be a long-term driver, but we're going to hear lots of scary headlines over the next few quarters, at least. walmart, a.i. company, as well as everyday low price. you're thinking about the future of retail being needs plus wants. we like the new cfo at target, it's still a work in progress, but walmart is our top idea. we love costco. the valuation is extraordinarily high, but a sticky membership model and maybe it's not a retailer, it's a subscription. >> quiet luxury, if you hold up your right hand, are those two cartier bracelets, those suckers are beautiful. >> not quiet, either. >> department stores, you've been cautious on, correctly. i think you just downgraded kohl's.

is there any lifeline for those stores? >> we weral blooming dales today, and they have a new ceo that came from europe, and really driving retail. really good, unique problems. so, tbd. i'm hopeful. but a lot has to happen. and the degree of competition, and the ability to get gucci everywhere is something to watch. so, we'll see. hopefully. there's a lot of initiatives in place, but i'm totally fine being on the sidelines. >> how are you forecasting christmas? holiday spend, i should say? >> well, thankfully, we had a pretty decent back to school. that usually correlates pretty well with holiday. and it's a gift-giving season, but winners and losers. for example, athletic leisure, working, parts of denim are working. beauty is working. but it's pretty selective. not everything is working. >> all right. oliver, thank you for coming by. >> my pleasure. happy holidays. >> oh, don't even.

>> guy's -- you got to talk about it now. >> what? >> holiday. >> no, you don't. >> when it comes to retail. >> let's get into october. i guess you do. the one you want to watch, i think, is thursday, costco, tradie ing 50 times next year. very expensive on valuation, but it's been expensive forever. every time they miss, the stock goes lower. a week later, the stock is making highs. i'm fascinated to see what the price action is and how long it takes to make another high. >> mildly optimistic. i'm always long -- >> on holiday. >> on holiday. there is some spend, i think, cooling because of the election, i think a lot of people distracted, that will be over, hopefully. and also i think inventories are probably in decent shape. >> i think costco, to guy's point. i'm out of walmart, and i'm thinking about buying costco, but every time i look at it, it looks too expensive. but the renewal rate is always above 90%. so, as oliver said, this is a

subscription-based model versus a retail specific, so, it makes me feel as if the market goes up, people feel more wealthy, they'll spend more. >> favorite retail chart, katie? >> i do like target, actually. i think it's an interesting basing phase and a nice counter balance, the steep uptrends. coming up, a nuclear move, and an under the radar grid play. how our traders are trading uranium and infrastructure. those two power moves next. and celebrating hispanic heritage this month. here's the ceo of the honest company. >> honest was founded by a latina founder and for me, as one of the first afro-latina ceos of a publicly traded company, it's so fun to lead a company where diversity and inclusion are a key piece of what we do. the celebrations we do of culture here really allow us to come together, almost like one gorgeous colorful mosaic of a

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welcome back to "fast money." uranium stocks continuing their run higher today with uranium

energy surging herely 12%. today's gains coming after friday's news that constellation energy is reopening three mile island to provide power for microsoft's a.i. and data networks. the uranium etf is up 10% in the past week. and guy, you' were saying on friday, you thought this was a major inflection for the industry. >> i do. i'm not saying i'm right. but we've been doing the show a long time, the feedback we got on that uranium segment was unbelievable. it's a real story. it's not going away. it's not one of these fly by night things. this is a secular shift in what's going on. we talked about the physical uranium etf, sruff, throw that sucker up. all these things, i think, bearish to bullish reversals, and if you want to see what this can look like, look at visra energy, which we never talk about. pull up vst, just to see what

some of these anecdotal names around the whole a.i. trade are doing, on the energy side of things. you thought uranium is on top of that. >> i love when you throw out technical terms when there is a technical analyst here on set. >> katie. >> yes. >> he seeps it. >> i see it. i see it. and she sees it. >> what do you see, katie? >> you know, it is interesting. i actually think the may high for the uranium etf, i use ura as my proxy, was a major high. it's associated with a loss of long-term momentum. we have a short-term breakout here above the 50-day moving average, i see this chart, it's an interesting breakout, if it's confirmed, as well. but i think it's a short-term phenomenon, and that we have a lot of resistance for the space. let's turn now to a power play. we don't talk about it here on the show. utility company quanta services are up a whopping 20% from the

lows of the month. karen, you've been following this one. >> i have been, yes. it's not really so much utility as it works on the utility. works on upgrading, managing, maintenance, all of that, for not just utility. it's electricity, but it's also renewables. and they also -- they're very good at acquisitions. one thing i find really interesting is that for -- this is -- there's not a big labor base for people who have this sort of expertise. they own lineman college to make new workers. >> oh, wow. >> this is an interesting part of their business model. so, it is not cheap, by any stretch, but they've been doing an outstanding job, and it would seem like the burden's on the electricity grid and growth and renewable growth, there's still a lot of growth here, so -- i'm staying long. >> and bring it back to xlu, so, utility etf. it's up 27% year to date.

the grid is going to be tapped. it's -- it's not if, it's when, it's now that's why microsoft is investing in nuclear, because everyone has to supply that overburden that we're putting on the grid. so, i think anything as far as utilities, anything as far as energy, i think you're going to be okay with. obviously stay away from fossil fuels. >> how does xlu look, katie? >> strong momentum. new highs for xlu. we also have the more defensive sector rotation so, the relative performance has really improved. and for the pwr chart, it's a breakout. another breakout pending confirmation, but what's interesting, especially about it, the ratio versus the s&p has a counter trend short-term buy signal. it would suggest that it should also outperform. all right, to other metal trading. silver and gold neck and neck this year, but could one be about to break out? what the charts are telling us, next. more "fast money" in two.

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you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title. welcome back. gold is on a record-breaking run this year. it hit yet another all-time high today. its 38th this year, and outperforming the s&p so far this quarter. but one trader says another commodity may about to play catchup.

let's go off the charts with katie. so, what is it? >> silver, believe it or not. when you look at the ratio of gold to silver, you'll see that it's a long-term trading range, but within that range, you just have swings. it's almost like they take turns in terms of relative performance. now i think it's silver's turn. silver has on its chart in absolute terms a breakout from a consolidation phase, so, that draws our attention to it, but the ratio has an overbought downturn that would suggest that gold may underperform in the near term versus silver, and that really gives it a chance to maybe pause within its very strong uptrend . we're bullish on gold. we have an intermediate term objective, about $27.55, so, we're all for holding gold positions, but we do think for some relative performance, you might consider silver. >> guy? >> 100% agree. if you just -- again, gold's at an all-tile high, silver is probably a little more than half of its prior all-time high and i'm not saying it's going there, but even if you just capture 15%, 20%, which is nothing in

silver, if you've been around, yeah, this is sort of hair triggered, as well. by the way, gold, to me, still works would question. but at some point, the market's going to catch onto the industrial uses of silver, as well. and i think silver can go from here. >> when you take it back to gold, i get silver and i agree. when you look at gold, you have gold, you have digital gold, which is bitcoin. then you have liquid gold, which is oil. that hasn't performed. bitcoin has been choppy. and then you have gold, which is the real gold. and that's been the only one, i find interesting, that's the only one that is really consistently outperforming. i'm waiting for bitcoin, the digital gold, to actually catch some tailwind and i think you're getting it now. >> you're with the digital gold? >> i am with the digital gold, which isn't normally my kind of thing, but i do believe in digital gold, so -- i'm staying long. >> when gold and silver switch positions, does gold take the gdx along with it? >> typically, but with gdx or

any, you know, sort of equity-oriented etf, you'll have that equity exposure imbedded into it. we usually use a gld or slv for comparisons. and we think there should be more ways to invest in these commodities. we're always getting freedom looking for other ways to express these. >> and again, guy, the a in your clam. >> doing extraordinarily well. throw that sucker up. the clam is actually been a performer. >> yeah. >> lockheed martin was an all-time high today. i mean, martin marietta sort of, whatever. i'm say this. silver crest, pan american silver, if you are looking for equities in to play. without question. but the gold miners, to me, are still cheap. >> and oliver bought up all the supply in silver and gold, if you are looking at his wrist when he was here. >> though i think the silver was platinum. up next, final trades.

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time for the final trade. around the horn we go. steve? >> oliver, his best trade, or his best name, was walmart. so, i'm picking the flip side of that, costco, and that's going to be -- i sold walmart, i'm thinking about buying costco, looking for an extreme performance. >> chairwoman? >> yes, so, i love talking about meta, and i do think there's a lot to love there, however, the recent performance of the stock makes me actually want to sell some upside calls in meta. >> katie? >> i have to go with silver. so, good way to express the view, slv.

finally gotten out of its series of lower highs. >> great to have you here. guy? >> an extraordinary first couple of weeks -- >> sure, extraordinary. >> as is northrop grumman. >> thank you for watching "fast." ar r cmeey" with jimrar sttsight now. my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people make friends. i'm just trying to make you some money. my job is not just to entertain, but to educate and teach you. so call me at 1-800-743-cnbc newsom or tweet me @jimcramer. whenever you're listening to anyone's investing advice, you need to consider the source. and ideally, you want to know

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