one of our traders calling it quits on apple who was it steve grasso he sold his stake in the iphone maker below $191 a share got into the name at $127. so, why now? >> so, the $3 trillion number and the stock price right around $190.73 and change or so i've owned it forever. i've owned it since december of 2020 on this last leg. i do believe it has the capability of trading above $200, but it's going to be a little bit of a grind, and i wanted to get out of that, free up some money to buy rivian. >> and why rivian? >> because they are the beta play for me right now. apple, the chart looks spectacular, it's a staircase up, but rivian is a spike higher, and i think they could be trading at $30 to $50 without blinking an eye. starting to act like a real car company. nervous about production, and then that -- those numbers have sort of -- or those worries have sort of been brushed aside they're actually looking like a real car company with real products, and i think there's tremendous upside to this stock, on a move higher, versus an inc incremental grind higher for apple. >> meanwhile,

steve grasso. >> a stock aye owned forever, tse, has been underperforming to say the least. >>> don'to anywhere. "options action" sup next. we're in a race against the nazis. they have a 12 month head start. 18. we've got one hope. our nations best scientists working together. here, secret laboratory. keep everyone there until it's done. you're the great improvisor. but this, you can't do in your head. this is the most important thing to ever happen in the history of the world. - 5. 4. they just fired a starting gun. - 3. the president needs to know what's next. - 2. what's next? -1. a third kid. what if she likes playing golf? it's expensive. we're outlawing golf. wait. can i still play? since we work with emower, we don't have to worry about planning for a third kid. you can still play golf... sometimes. take control of your financial future to empower what's next. >>> right now, stocks live to close a shorten holiday week as investors worry the fed might not be done raising rates. plus, revved up over rivan the stock rocketing higher this week is there still room for this car and t

in for melissa lee on the desk, bonawyn eison, courtney, steve grasso, and guy adami. all popping at the start of trade after each posted revenue and earnings beats for second quarter, but the gains didn't last long. jpm landed in the green, but off the day's highs. citi dropping 40%, its worst day since march. the dow managed to eke out a fifth straight day of gains. s&p and nasdaq closed in the red. overall, very solid week for stocks, all the major averages posting strong gains since monday the nasdaq got over 3% what message does all this action send as we head into the start of earnings season guy, what did you make of the reversal >> hi, sarah great to see you sorry i'm not there. i don't want to make a huge deal out of one day i'll say this. last friday you saw a similar reversal in the market the market was on cruise control every friday last friday it changed, and today it was interesting i think a couple things stick out to me. you mentioned j.p. morgan. the reversal in the kre today i think is something to watch for sure that touched up to the early june hig

. >> steve grasso? >> rivian. since going straight down since november of 2021, the stock has a pulse. >> all right thank you for watching "fast money. see you back here tomorrow "mad money" with jim cramer starts right now >>> welcome to metlife. i am kramer. call me. i don't know about you but, i getting tired of --. the dow is off 366 point. let me highlight how we think the market is about to get difficult. we don't need the nuanced and lazy thinking with all of the pitfalls. this is important because there is no shortage of stupid nonsense on wall street right now. the treasury secretary says it does not matter. the chinese government wants high performance and a pledge to conquer taiwan but the communist party wants you to understand they aired not stealing trade secrets but just sharing those in a benign fashion. these are just total and possibilities. our government wants cooperation but we are not going to get it. the chinese government is making quotes. they are not on our side. they are not going to cha

on the desk tonight, tim seymour, courtney garcia, steve grasso and guy adami markets bouncing back from a losing week. the dow jumping 210 points, snapping a three-day losing streak and the s&p and nasdaq closing higher the top performers, industrials, health care, and energy. industrials now up almost 6% over the past four weeks the gains come days before a key inflation data read this week, and the kickoff of earnings season wall street hears from delta and pepsi, and then friday, the banks. so, how should investors position themselves ahead of the key numbers. tim, what do you make of today's trading, a little bit of a hangover from last week as we wait for the cpi numbers, more details from some of the keyen banks? >> yeah, i think it's been directionless. we are reflecting more on the move in the last couple of weeks. the bar is probably reasonably low, but we all know that operating income and essentially margins are probably flat to down small we know sequentially that eps is supposed to come in about 4%, year over year down seven. if you think about the banks, we actually have a