the name that you just mentioned and celgene and gulliad. we thought they were cheap when they were 10 or 11 times earnings b it out performed over the past month but not over the past year or five years. if you look back at the history of this index, it doubled the total performance of the snp it has huge potential customer bases and caused a tremendous amount of money and we saw that with a hepatitis drug that came out and there was about none of them you can trade a call spread risk reversal to mitigate these options. 103 and 110 and 117 selling the july, buying the 110 call for 265 and selling the 117 call for 45 cents this is only going to cost you a little bit of a buck one of the things you can take a look and if you look at the same trade inj june. this is not a trade that's going to decay very much if ibb were to pull back, you are not going to own it until it gets down other than the buck that you spent you do get participation from about 6% or 7% from the upside here >> you put in the market that's range bound even if they are che

sell ge celgene, multi-year lows, amgen, not participating.ut my hunch is that this is going to start to catch up with some of the small ones if we put those two lines together, here we have them. meaning a lot of correlation and they've diverged over the past year a doubling or more my thinking is that large cap ibb is the way to play it, has got some upside here so let's focus on the ibb, top and what i have here is relative to health care sector. so now relative to managed care, relative to j&j, lily, pfizer. if i put in this downtrend line, we for the first time in about three years broke above the line, ever so slightly, pulled back, and now we've broken out again. the beginning of relative outperformance to its sector and the spread with the small cap suggests to me that there's more to go. okay now the chart itself ibb and the channel it's been in since the low. literally, a perfect channel and my thinking is that we are at this low end and that we're headed to the high end so i want to be long ibb here. pretty straightforward thesis. >

celgene is tough talk has struck a chord with austria he met with his austrian counterpart in rome and heard of an emergency mini summit being held in brussels on sunday. for game in stark contrast to vienna and rome strong anti immigrant policy french president m. and while macro has joined german chancellor angela merkel's call for other e.u. countries to take their fair share of migrants. that's. the topic which currently concerns us all is migration. we see it as a common challenge the first have to make sure that the cause behind migration is eliminated was the one that's the one because i think. they appear to have one at least on saturday in macau welcome spain's new prime minister pedro sanchez to paris the week after madrid so i can almost see.

celgene is tough talk has struck a chord with austria he met with his austrian counterpart in rome ahead of an emergency mini summit being held in brussels on sunday. in stark contrast to vienna and rome strong anti immigrant policy french president. has joined german chancellor angela merkel's call for other e.u. countries to take their fair share of migrants. that's. the talk which currently concerns us all is migration. we see it as a common challenge the first have to make sure that the cause behind migration is eliminated was the one that's the one because i think. they appear to have won at least on saturday in macau welcomed spain's new prime minister petro sanchez to paris the week after madrid took an almost six hundred thirty migrants also turned away by rome michael pointed a firm finger at e.u. states who refused to play ball over my creation you can't have countries that massively benefit from the solidarity of the. rippin union while voicing their national selfishness when it comes to my current issues well failure to agree on an e.u. blind to common migration policy could

there's a lot of beaten down names here celgene is one you mentioned, a lot of names hit hard.sibly because of the elections coming up. just hang on let me finish. >> i'm saying. >> but it's real >> you have been talking utthese. i got it, but the only time we talk about these stocks is around an election >> my point is this. don't go all in today or monday. have your position over the summer is the time to get into these stocks en masse >> you can't market time it. >> yeah, actually, on this narrow topic of timing the election, you can, with each election in the summer is where the vitriol gets the highest and the stocks get beaten down >> you have celgene and amgen and the big ones >> we're going to leave it there. >> josh, thank you very much >> jus ahead, the trades on lululemon, workday, and more in the blitz. that's after this. this is a story about mail and packages. and it's also a story about people and while we make more e-commerce deliveries to homes than anyone else in the country, we never forget... that your business is our business the united states postal servic

we have a new celgene guy. >> little more than a year he's running for senate. >> certainly is. ads. he has a couple different ads. one makes it look like melendez is in prison one of his ads the other one -- >> he was severely criticized by the senate >> i know. the other ad, i know bob, he -- >> he's been in here >> the other one, i'm not really a real republican. i'm very independent i don't care who is in the white house. i'll do what's right he's running from being republican because he's running in new jersey. it's so like -- i don't know lose as a republican, don't lose as a wishy-washy -- >> the drug pricing issue, though -- >> are you a republican or not >> parties are changing. >> what does it even mean to be republican now right? >> fair is foul. >> but we'll have the current ceo of celgene on monday morning to talk about that company >> yeah. back to the -- what we were talking about. thank you. >> thank you, meg. >> doughnut day, you know that you see this thing >> what is that? >> bacon glazede doughnut with bacon on top of it. >> how do you feel >> thumbs down >>

hi, meg. >> good morning, joe this special guest is the ze celgene ceo.gest news of the conference came from zecelgene. both of these are in these personalized amino therapy treatments trying to help patients that have run out of other options in treating their cancers. let's start with the bluebird announcement some said those results, they were good, but didn't hit our expectations you're seeing bluebirade down a little bit today. how do you look at that? >> i think there's an expectation that we're going to cure mrefractory myeloma >> meaning it topp eped respondg >> to put that in context, that means a myeloma patient who's probably had the disease for more than ten years, in that context to have one year of progression-free survival would be unprecedented what investors were focused on is maybe it would be more durable than that. we don't understand the disconnect existing therapy in that setting, medium progression for survival through four months this is tripling what is available for patients today >> these are patients that have tried eight other

>> bluebird's interesting valuation, it's crazy, but celgene has the best balance sheet and pipeline, gilead with the best valuation. there's a play, if you like the space, you don't want to play the stocks, thermo fish. in high school, bunson burners, who makes the stuff, well, it's guys and gals at thermal fisher, making all the instruments if you believe in biotech, believe in the backbone of it. that's tmo, mike, you hear me? >> i know tmo very well. >> i know you do >> tmo >> i didn't know if that was another acronym. >> no, no, no acronym. you said be quick. i gave you the symbol. >> appreciate it tmo. the other tmo. anyway, picks and shovels. appreciate it. guy and mike, much more coming up at "fast money" 5:00 p.m. eastern. ceo of bitcoin accepting cash and explaining what that means for the space. at 530, chat continues on options actions. that's coming up >>> we've ended the war on beautiful, clean coal. >> with the president declaring mistti ncalled war over, the adniraonow seems to be creating a marshall plan for coal companies telling you about that next in today's take a

nbi makingex, the gains in parts because of celgene, the second biggest mover in the biotech index, theyad a trial for a red blood cell drug and more likely to get fda approval. a macro note, we want to talk about oil and the dollar, oil is rising, having a very good day for oil as u.s. output is clearly being met with demands. that is pushing the dollar lower , falling its most since may. shery: thank you, taylor riggs. coming up, dollar trump celebrated six months since his successful tax reform push, republicans want to keep this issue on the forefront heading into november but will it be drowned out by the president tariffs? we will discuss. this is bloomberg. ♪ shery: this is bloomberg markets: balance of power. i am shery ahn david: i am david westin. >> a man who police say have a long grudge against maryland capital city newspaper was charged today with five counts of first-degree murder. jarrod ramos is accused of blasting his way into the newsroom with a shotgun in an attack yesterday that left for journalists and a sales employee -- four m -- journalists and sales employee dea

. >> celgene looks like a ridiculously c stock >> intuitive surgical. >> rob, thank you a lot for joining for us here for "halftime," "power lunch" starts right now. >> i am michelle caruso-cabrera, president trump is talking and tweeting like crazy today. turning up the heat on trade and taking a victory lap on the travel ban and hitting iran on oil experts. we are reading all the latest from washington straight ahead shares of general electric surging right now. companies selling. this is the end of the over haul, can it jump start the industrial revival company the fda improving the first ever marianne based drug. the ceo is going to tell us what the historic decisio

>> celgene looks like a ridiculously c stock >> intuitive surgical. >> rob, thank you a lot for joining us that does it for us here for "halftime," "power lunch" starts right now. >> i am michelle caruso-cabrera, president trump is talking and tweeting like crazy today. turning up the heat on trade and taking a victory lap on the travel ban and hitting iran on oil experts. we are reading all the latest from washington straight ahead shares of general electric surging right now. companies selling. this is the end of the over haul, can it jump start the industrial revival company the fda improving the first ever marianne based drug. the ceo is going to tell us what the historic decision means for the bottom line, "power lunch" starts right now >> welcome to "power lunch," i am sara eisen, stocks are carving out some nice gains on the first day of the new look dow jones. the dow is still lower for the month of june. although the s&p and nasdaq are both higher for the month. walgreen's replacing ge and the dow today. walgreens is one of the big drags in the group g.e. is the big percentage

updates in the hot space of immunotherapy we'll get some of the first highly anticipated data from celgenend bluebird bio that news is expected at 6:00 p.m. eastern, guys. >> have we seen stocks move up in advance of the data dump tonight? >> nektar is already moving a little bit today so people are kind of anticipating what's going to happen at the conference analysts are putting out notes and having their expectations for the weekend. so you see some movement >> highest expectations in terms of the type of cancer they're going to be talking about? >> oh, that's interesting. well, lung cancer has seen a lot of progress recently, both with immunotherapies and then those targeted therapies we talked about from loxo and blueprint. those are across many different kinds of cancer but lung cancer is in that basket. >> very good immunotherapies helping lives. have a good trip keep us posted >>> apple is getting its price stock raise ahead of monday's conference the analysts who made the call will make the case >>> we're keeping a close eye on this meeting between president trump and north korea'