Transcripts For CNBC Fast Money 20171128

And stocks went nuts, all three major indices closing at record highs in spite of north korea firing another missile that caused an 80point drop in the dow for 13 seconds there is also concern about a government shutdown, whatever. Since the election, the stock market has added 4. 6 trillion in market cap. Is today proof that taxes are not priced into the market, do you drown out the noise and just keep buying . I think taxes have been priced in, tax reform has. Thats the slow rampup youve seen i would suggest the russells outperforming the market are in anticipation of this we addressed this last night, i still think theyre going to ram something through. Obviously a lot closer to that happening than we were 24 hours ago. I think thats what the market is reacting to is there bad news out there . 100 but you mentioned, north korea fires a missile, we dont bat an eye, President Trump makes a comment that we will handle it, somewhat cryptic and somewhat ominous, the market doesnt care, full speed ahead it was like it was okay because it didnt land on land, it landed on water, so keep buying the market, 13 seconds or 13 minutes. A short amount of time. The amount of time is shorter in duration and its less deep every time we sell off is it priced in . I dont know doesnt really matter if its priced in or not because today you had your bad weather, it was powell every different text was, is this powell or is this tax reform, and who cared . It was 50 50 powell had some very bullish things to say. Thats what got the financials going. Those were the ones that led but then when you saw that extra leg up, it was good for about 10 or 12 handles in the s p, when you saw tax reform was starting to get some Critical Mass behind it does this set up for a sellv event . Maybe. For now i think the market still marches higher the capital lunch bromance talked about by President Trump is part of this too. You had Susan Collins come off the fence, bob corker, ron johnson come often the fence, these were folks that were providing opposition, obviously this is significant for the Senate Budget committee passing the bill, you automatically get corker and johnson, Susan Collins says i feel pretty good about all this that plays into the agenda on the legislative side if the team that cant fly straight suddenly can fly straight, maybe were in a good place. Powell elicited some stuff that kind of blew my mind when he talked about the nonparticipation rate of men aged 34 to 52 or whatever that number is. The point is, this is a guy that is looking for reasons to talk about how inflation isnt anywhere in the picture. The fed was more dovish than even janet yellen has been of late thats a great combination for the market this is almost nirvana when it comes to the stock market, a dovish incoming fed chair who may be lower than we Even Authority originally we have potential tax and potential runway for more legislative runway like infrastructure and we have an economy thats sort of picking up steam im sort of i think the market is clearly pricing in some amount of expectation of tax reform, right . So thats already in there i do actually think well get something even if its watered down its a must, must win. Im wondering about steves point of do you sell the news, if we actually get tax reform. It would obviously depend on how high the market trades on that for right now im not inclined to sell anything right now not inclined to do it, nor buy if a healthy amount of this, too, think about where all the gains have come from from these mega tech, mega cap it happens no one wants to lock in these profits. Everyone kind of sits on their hands now. They did poorly today exactly everybody sits on their hands and wonders, because there was a lot of Short Covering, specifically in the retail space, with names like jcpenney and dillards. Those type of names. I wonder what kept us here, what kept the market on a roll is this small amount of names that no one wants to sell because they have outsize gains in, i wonder if then it comes to a Critical Mass in january or so good point, because this is where the market, weve talked about the lack of breadth of late, something we havent talked about in nine months or so we talked about the new 50week lows, lake placid with a little duck paddling furiously. Financials went bananas today. Xlf was back at all time highs again, bank of america up 4 , thats two 4 days in the last two weeks. We have retail thats Short Covering macys is showing their Balance Sheet is better and their inventories are better terrible expectations in a sector where this year is a lot different than last year so there are reasons to hold on there are places to play. You dont necessarily have to be going for big cap tech which understandably is defensive because of the capacity they can put to work. Theres no question youre getting growth theres no question youre getting companies that are underperforming other companies. Whether it be 50 Jerome Powell, 50 the prospect of tax, you see this large group that has had outsize gains underperform the market and you start thinking, should i be putting into the groups that outperformed today, like financials, like industrials i think thats a lot of what happened facebook, amazon one day, lets not make a huge deal out of it they could all catch up tomorrow in a major way its worth noting. Whats also worth noting, its not a big deal, the vix closed slightly higher today, i just mention because its worth mentioning to tims point, i think the financials continue to ramp higher here. As we get towards december, the seasonality of this market kicks in listen, again, north korea is firing missiles and the market does not bat an eye. Took it up to 1030 on that missile. Which is remarkable that is remarkable, right stay with it. Theres a couple of things. As far as banks go, i think you have the most defensible or defendable valuations and certainly Balance Sheets but again, you had powell today making it known hes absolutely fine where regs are in the banks, on a day when theres a lot of heated discussion on Consumer Protection, we can get into that. But banks have a place to go retail stocks, the valuations in some cases are horrendous, on a trailing basis these guys arent making money but people want to look back at reasonable valuations for a sector that no one thinks is doing anything, these are places that can continue to run technically a couple of them are well through 200 days, macys is 200 days away from the upside, which tells you theres a change in character you brought up the meeting, we have retail and energy that has been two of the biggest laggards in the marketplace. Diversions, oil in the stocks exactly you havent seen any quick pop in oil if opec extends it, thats pretty much factored in, theyre saying, another nine months. You could see a move in the o r overarching commodities. Theres one group of stocks that our next guest says is still a buy. Rich ross, hi, rich. Guy adami, your 210s, the market on fire today, banks up big and small cap stocks coming up huge. Lets start with the russell 2000, the iwm here look, its been a frustrating year for the little guy. Youve been mired in this very welldefined trading range, if you will you can see it here. Now, we do break out coming out of the summer. Once again, we grind lower, we sort of give it all up but importantly, we test and hold that break point. Thats set the stage for the extension of advance that you saw today with the russell outperforming the s p. Theres a lot of room to close that gap lets zoom in on a sector which has been trading along with the small caps, the financials, the banks, all part of that bigger trump train along with the transports once again, yes, absolutely, up 2. 6 today, you outperform 160 basis points in the financials but its been somewhat of a frustrating ride along the way, you underperform the s p year to date however, once again, that gap can close here this move is the start of something special. This trading range breakout, thats going to provide the launching pad to close that gap of relative underperformance one stock we continue to like here, jpmorgan, lets go for the big boy here this is a very long term chart we go back to the wayback machine here you can see a 20year base of support within the context of that base, the textbook Double Bottom and the bullish pattern, i think this stock trades 120. Im a buyer of the banks, the financials, the market more broadly, and jpmorgan. Still a lot of room, a lot of runway here. Keep in mind this is without yields and the curve doing anything you had me at start of something special. Hes going to come on over come on over, rich heidi is going to bring the chair in, hes blushing. So youre talking about financials we were talking about this notion that perhaps there could be a rotation, we saw tech underperforming. Do you see that in the cards i dont see that rotation weve talked about that mythical rotation all year, and tech is still leading the charles. We underperformed today, nasdaq up 20 basis points versus that surge in the financials more broadly. To suggest a bigger shift, lets not get ahead of ourselves were still talking about a flatter curve, yields which cant get out of their own way, neither of which are supportive of the banks performing more broadly. What we saw during the powell testimony and q a session is that the regional banks outperformed do you see more relative strength they can get more bang for the buck when you look at the etf versus the bkx, up 10 year to date once again, its part of that bigger theme of large outperforming small. To suggest once again that the small cap banks are ready to sort of outperform the bigger guys, i would still stay the course here. You can still make money, you can still outperform and generate alpha in those big banks, thats where you want to be rich, you remain at the zenith of the of the parthenon. A lot of people of your ilk talk about the potential for a blowoff top. Does anything suggest this is the beginning of that sort of capitulation buying towards the end of a cycle i think were far from the end of this cycle. In fact i think were halfway through a move to 3200 in terms of time and price. In the short term, could we be building towards some sort of year end exhaustion which we have seen, of course theres always that potential. Trees dont grow to the sky unless of course its made of bitcoin. That being said, theres plenty of upside for the broader markets here and you still want to be a buyer of weakness. Instanci thanks, rich breaking news from Kayla Tausche from the Consumer Financial Protection Bureau. Reporter melissa, a judge in the d. C. District court handed a win to the Trump Administration and director mulvaney who will remain director of both the Consumer Financial Protection Bureau and the office of management and budget. Judge Timothy Kelly here in d. C. Weighing in moments ago on this temporary restraining order filed by the deputy director, leandra english. The judge denying that restraining order and on the merits of the case that the restraining order was filed with, where she tried to say the administration didnt have the authority to install mulvaney, he said youre not likely to win on the merits of that case but theres a separate process for that, we should note, melissa. If the Trump Administration were to have its way, it would install a permanent director as soon as possible, which would render that entire lawsuit null. But the District Court judge, who was appointed by trump, took the bench in september, handing a win back to the administration and saying Mick Mulvaney can remain director of the cfpb. Thank you, Kayla Tausche. This would line up with this notion that the Trump Administration is for further deregulation here. This is a man, Mick Mulvaney, who has said in the past he does not agree with the mission of cfpb can we sort of draw a line between this and whats going to happen with the banks . Again, i think you can draw a line with everything that we heard from the fed chairman today, what weve heard over the last couple of months. Its a shame we dont believe in the Consumer Protection agency, i think theres been some clearcut poster children for i dont think theyre necessarily saying they dont believe in it. Theyre saying they want to do away with needless regulation and go with smart regulation i goet what youre saying. By the way, i dont think banks need to be overly regulated right now. I actually think that the Banking Sector has been pulled in a lot, the Balance Sheets have never looked better you have an environment where it got too predatory against the banks. Were saying the same thing you could say the same thing with the Consumer Protection agencies, people who are weeddeep in this understand the inner workings it was overreaching. Thats what the republicans and donald trump are saying. Back to what we were talking about, rich, in terms of the strength of technology are there individual issues here that youre concerned about at all, of the big caps not overly so in the short term i think the price action in the stocks is reflective of a very strong technical background and probably fundamental backdrop as well you dont have to apologize for buying f. A. N. G. Facebook, amazon, netflix, and google stocks were tired of the acronym, but stocks like adobe, facebook, amazon google, facebook, these are stocks that consolidated in sideways fashion theres another leg up here in technology once again, dont be scared of strength in a bull market, embrace that strength. Does that mean you cant buy the iwi . It is a zero sum game, there is underperformance if you dont think theres going to be rotation out of large cap tech i sold some today how does iwm run . I think over a short window of time, you could see technology being used. Just on the margin think about last december when we had midteens type declines, that money was put to work in the trump train. Tech held its ground you sold iwms yes you cant tell me this isnt in the price. Small caps are the most expensive part of the market you know, im not running in front of a ship here rich, thank you, at the zenith, whatever you want to say about him. Pin achemicnaclpinnacle the parthenon ahead, could jumping on the roku bandwagon be a dangerous trade . Plus shares of twitter are will to do something theyve never done before, well tell you why its got shareholders so excited. And which fast food combo could be next to be sold well play matchmaker telar this hour much more fast money still ahead. Always obvious. Sometimes they just drop in. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Im here to talk to you about how at t gives you more. And so am i. Like how when you buy the amazing new iphone 8 you get another one on us. See we give you more phones and more spokespeople. Are you guys doing a spokesperson thing right now . Yes. Awesome, can i be in it . Well, its kind of like a twophone deal. So two spokespeople. Got it. K. Thanks. At t its time for more. Its time for more. Buy the amazing iphone 8 at at t and get a second one to gift, on us. Wifiso if you cant live without it. T it. Why arent you using this guy . It makes your wifi awesomely fast. No. Still nope. Now were talking it gets you wifi here, here, and here. It even lets you take a time out. No no yes yes, indeed. Amazing speed, coverage and control. All with an xfi gateway. Find your awesome, and change the way you wifi. Welcome back to fast money. Twitter celebrating a maim milestone as the stock tracks for its best year ever, up more than 30 year to date. If these gains hold it would mark the companys first positive full year since going public is twitter finally learning to fly, grasso . Im still long in the stock, i continue to hold out hope after hope this year seems to be the one were all waiting for. A lot of that margin increase has benefitted from cost reductions and you look at monthly active users, daily active users, its a positive trend at least with daily active users, i dont think theyre out of the woods cost cutting is not a way to grow im still long if you think about how the media world is breaking down, twitter is the ultimate distribution play. Theyre now in a place where theyve been much more flexible, whether its 140 or 280 characters i think the worst is over with people being overly concerned, thats a bit of a stretch by saying overly, theyre audience isnt growing, its been largely flat. But the engagement continues to grow the value of twitter in the immedia media space has never been higher, as evidenced by our president. Is the audience is more engaged than ever, its about, once again, figuring out how to monetize this. But the engagement isnt falling off. Does it help that jack dorsey is out of the woods at square . Square is the greatest thing since sliced bred in the market. It doesnt hurt it doesnt hurt you sort of wonder, for me its not about the active users growing, its about monetizing are they final turning a corner on monetization . Because its up this year, that wouldnt be enough reason to get me to buy. You have to invest to move forward. This was a great year. The story was cost cutting now you have to invest to make the product better with investment comes expenses, comes deteriorating margins. Like you just said, one year does not make it for the stock third quarter, end of october, they reported a 17 stock. I thought the quarter was pretty good, the stock ran up to almost 22. On pretty significant volume i remember having a conversation, time to take profits in twitter that proved to be correct, if you look, because within a week or so it was back down around 19 its recaptured that now, which to me is sort of telling you something. So i think twitter looks really good setting up for the next year i dont think they ever should have talked about Monthly Average users, daily active users. Google doesnt do it its the wrong metric for them its about engagement. To steves point, its about how do you monetize. I think they might be on the other side of this thing ahead, fast food, fast profits . Well break down the deal between arbys and Buffalo Wild Wings. Plus the traders give their picks on which restaurant chain could be bought out next im melissa lee. Youre watching cnbc, first in business worldwide in the meantime here is what else is coming up on fast. Its the ultimate bubble thats what some investors are saying about a number of stocks so if youre concerned, well show you how to spot a bubble in your portfolio plus something is wrong with the chinese stock market antidote. To what the poison you just drank and it could spell trouble for stockser he. Well explain what we mean when fast money returns you always pay your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Welcome back to fast money. Another wild day for roku, the stock hitting a new alltime high before turning back, ending the session lower. Here is a man whos been known to take a wild ride himself, dom chu. Reporter melissa, a candidate for roller coaster ride might be roku stock, going from offer price of 14 bucks to nearly 52 earlier today the quick and dirty math is, yes, 250 return over that amount, since september 28th it hasnt come all in a Straight Line the trend has definitely been higher, and weve seen around four distinct drops of at least 15 during this twomonth trip to postipo highs. There might be a good explanation for why the speedy rally happened there are a lot of bets against roku stock, relatively speaking. Short interest stance at 47 , in line with stocks like rh, hess for asi Restoration Hardware it begs the question when will the fuel for the rally run out short selling Research Firm citron put out a colorful tweet about their thoughts earlier today. They say, quote, time to pop some real bubbles, roku total joke, citron trusts mark mahaney if they can hold comp back Todays Research is irresponsible unless roku finds a way to stream bitcoin. Melissa, roku is not a widely covered stock by analysts but the handful that do have targets have an average one of 31. 60 per fact set, way below current levels back over to you thank you, dom. You really use that expanded tweet field very well. Putting that all aside in terms of the Short Interest, this is one of the only if not the only pure play streaming play if you believe a lot of the media stocks are having trouble reaching audiences because of bundles and court cutting, et cetera, roku is your play, isnt it its certainly one of them. This is the whole point, though, theres an enormous amount of competition in this space. Granted these guys have a leadership position, they certainly have grown at an extraordinary rate they had decent numbers last quarter, very good numbers guidance indicates theyre going to grow 28, 29 in the third quarter. Thats already down from 40 in the Second Quarter it tells you that at some point theres a valuation that makes sense. Look, thats what the short sellers are saying, the valuation makes sense. The short value is critical to the story i tried to get a borrow today to see how expensive it was earlier in the day it was available. By the end of the day, no more at any price probably at some price you could find it. To me thats such another level of risk to owning something. A great place to be in terms of, you know, the product. But you dont have a moat around this product, and you have competition. It is the only direct play or one of the few direct plays when you look at streaming and over the top. But when you look at who their competition is, google, amazon, apple. Netflix netflix theres a lot of competition with very deep pockets but they dont have the exposure or risk to content as others do. As dom mentioned, roku shares are in a bubble. If that were true, how would you tell guy over here has three classic warning signs of a dangerous trade, sort of a psa, if you will, for all you home gamers out there. Guy, head over to the plasma the more you know thank you, dom chu, dom does a wonderful job. If you look at one of these, its not going to work you have to look at three of these as a group lets look at them now together. Signs of a bubble. Well, dom mentioned it i would suggest Short Interest greater than 20 is one of the warning signs. Why . Because you can get these big moves. Next point is, outsized move from prior high. If you get a move of 15 to 20 on the upside and a three to fiveday period off a prior high, that is a warning sign with the 20 or more Short Interest the final sign for me, heavy Trading Volume what does that mean . In addition to the first two, if you see a day or two days where your stock trades anywhere from five to eight times normal volume, that is a suggestion that you have a buyers capitulati capitulation the shorts have covered, all the quote unquote suckers have gotten themselves long, and the stock might be setting up for an intermediate to long term top. Again, weve seen this before where stocks can go sideways for a period of time but if you get these three things over the course of a week or so and youve enjoyed the move to the upside, i would suggest its time to pull the rip cord and youre in the danger zone. So pull the rip cordon this in roku well, lets take a look. Do the stars line up as a matter of fact, they do look at what weve seen. Weve seen almost a 25 move from a previous high over about a two or threeday period weve had tremendous volume in roku over the last couple of days and as dom pointed out, you have ridiculous Short Interest. So the three things that i just brought up all exist right now in roku. Not to suggest the stock cant grind itself higher over the next couple of days. But if youve had a move like this and youve been long the stock, if you dont take money off the table at this point, youre just gambling the more you know the more you know, mel. Thank you, guy. Come back over to the desk zenith. Very cogent insight. Im just going to walk around do you know how to walk back here down in front we have to ask you a question here lets play what were calling trade or trap. We did roku with guy so lets do some other names that have run too far, too fast. If the trade has more room to run, if its a trap then its going lower. Lets start with square. So this one, if you look at the criteria, its only a 13 Short Interest theres no check off of that on the box. It did have a pretty aggressive run as of late when it started to be compared to a way of playing bitcoin, it ran up 40 it depends where you want to chart that from. Its given a lot of that back. Im still long the name. I think great job i think its still a trade. Okay. Karen. Do i have to pick trade for one of them . Or could they all be they could all be traps, they could all be trades. For me, square would be the trade, the other two traps roku, and well get to tesla, karen jumped the gun, thats all right. Sorry about that. Youre excited about that i wanted to just get it done. I know, somebody doesnt want to play the game, somebody wants to play the game right away, i cant get anything right all right. Lets do square again. Tim. Square is a trade quickly, guy pointed out technical reasons why. Fundamentally is the other reason things get into the thematic basket, it becomes a secular trade. Square we can stay with in terms of the thematic. In terms of the outside move, we saw that, we saw that huge volume on that day we mentioned, stock went up to 50 alltime igh, closed down 9. 5 , a classic buy side capitulation. I happen to believe in the square story, which suggests trade. I will say in this case trade. Trade across the board for square now lets progress and go to tesla. Tim . Trade or trap . Trap. Ive been pretty clear about this one people believe too much in a thematic element to the company thats not earning money and burning cash karen yeah, i would go with trap. Can i add one other sign Time Magazine cover. Time has been an excellent contraindicator of pinnacle of frothiness zenith. Parthenony . Parthenonesque both. Trade and trap . Its been a trade and trap. Right here, right now right now its a trade. Up to what . Now youre going to make me get wordy. So right now im asking for details. This is a trading element but it is a trade. So 325 is probably where you get your resistance level. It breaks through that, then no, thats where you define whether you go all in. Right now see, she pulled me in [ simultaneous speaking trade guy it doesnt fit the criteria that i mentioned up at the smart board. In my world, if im consistent, its a trade hmm it sounds like allowed it to be a trade too and it didnt fit your criteria, sorry, qtip were really off the rails here we need to do this game again. Thats never happening. So its a trade, tesla is a trade. Tesla is a 315 stock if we had played this game a month and a half ago when bk was talking about a double top, we would have a different conversation you have not seen an outside move to the upside over the last week or so defensive not at all, just trying to express myself still ahead, high flying chinese internet stocks taking a hit over the last week these have been some of the hottest trades this year did any of the traders buy this tip . Because wall street going bonkers over bitcoin as a digital currency, at another alltime high. After what the iomncing fed chair said today, you may be tempted to buy as well well be back after this we are the driven. The dedicated. The overachievers. We know our best investment is in ourselves. We dont take no for an answer. We fight for what we want. Even for the things that were once a given. Going to college. Buying a home. And not being in debt for it for the rest of our lives. But were only as strong as our community. Who inspires and pushes us to go further than we could ever go alone. Sofi. Get there sooner. We need to be ready for my names Scott Strenfel and r im a meteorologist at pg e. We make sure that our crews as well as our customers are prepared to how weather may impact their energy. So every single day were monitoring the weather, and when storm events arise our forecast get crews out ahead of the storm to minimize any outages. During storm season we want our customers to be ready and stay safe. Learn how you can be prepared at pge. Com beprepared. Together, were building a better california. Welcome back to fast money. Chinese markets are starting to show some cracks could this be your best opportunity to buy bob pisani is here with more reporter hello, melissa. The biggest emerging market of all, china, has mixed performance. Hong kong based companies have had a good year, hang seng up over 34 chinese tech giants are okay alibaba, baidu, tencent, all the stuff we talk about, all up big. Big names on the chinese mainland market have also fared well one etf tracks the mainland, up 32 so far this year look below those big names and the picture is not quite as rosy the shanghai exchange, only up 7 this year the shenzhen exchange, younger, more entrepreneurial, much smaller companies, actually is down 3 . The shenzhen has had a particularly rough month whats going on . Theres worry the chinese authorities are going to start cracking down on everything from Real Estate Lending to stock trading. Lately regulators have been cracking down on these Wolf Management products, many Small Chinese investors own them these Wealth Management products are annuitylike investments theyre bought by banks, from the banks, that seem to offer a guaranteed return. Last weeks regulators announced they banned institutions from guaranteeing any of these losses this is likely going to push more money into chinas mutual fund industry. In the long run thats good news right now investors are concerned about stricter regulations right across the board. The bottom line, china, like the u. S. , has evolving into many different markets. Melissa, when youre buying etfs, theres currency effect. Because the dollar is weaker, the etfs are stronger this year. You have to take that into consideration with currency. Thank you, bob pisani we have to go to the ambassador. Is this a sweet trade thats turned sour . As we went into the peoples depre congress, the government was trying to make sure the stock market ran the big chinesebacked which have re cheap here, things like t tencent, are off their highs to me, all those people trying to game china and make a big call on when this debt market overwhelms them have been losing the trade over and over again. Consumption in china is growing. I think you have better peg ratios, better growth relative to their pe in the big cap chinese names than the ones here for me as a layperson, eem gets a lot of it done. I think its about 25 china, 10 of it is tencent and alibaba. And, you know, i just want to own to for a long time its not that volatile, because its so diverse. Right baba has been a monster. Thats the way i play this. Im in alibaba and im going to continue to be in alibaba. Price targets across the street are about 200, around the 210. Im staying in long because its a play on china. You do have to have the stomach for the ups and downs to everything china related this is the way they play this, this is a proxy to china and eem. But alibaba, i think you have a lot of road ahead of you thats much higher. Against 180, steve is right in terms of alibaba. The chinese tenyear rates, 4 , i dont know if thats a good thing or bad thing one has to wonder if theyll put the brakes on a little bit seemingly thats happening, the market doesnt seem to care. In terms of baba, 180 is your line in the sand the fxi falling 1 in the past week. Mike khouw is in austin to break down the options action. Hi there. We saw an above average put volume in fxi today largely as the result of a put spread that was purchased, a 4743 put spread was purchased for 1. 50, over 12,000 were purchased by the close. The buyer of that put spread is making a bet it will be below that 47 strike by at least the 1. 50 they paid and maybe as low as that 43 strike. Thats basically a downside move theyll be anticipating of 4 to 9 within the next 80 days all right, thanks for that, mike khouw in austin, texas for us for more options action, check out the full show, friday 5 30 p. M. Eastern time. Coming up, Buffalo Wild Wings surging today after arbys said it would acquire the stock for 2 billion who will be the next fast food combo . Plus another day, another record for bitcoin, the crypto currency now flirting with 10,000. Well tell you how much higher some see it going. Me asmoyft aer this i think its terrific. Your kids go to college and you start trading. Yeah, 5 years already. 5 years, hmm. You ever call your broker for help . Once, when volatility spiked. And . By the time they got me an answer, it was too late. Td ameritrades elite service team can handle your toughest questions right away with volatility, its all about your risk distribution. Good to know. Thanks, mike. We got your back kate. Does he do that all the time . 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Reporter regal cinema has been approached for all cash acquisition at a price of 23 a share. Its a ukbased cinema operator. Regal says no agreement has been reached but theyre currently engaged in discussions with cineworld. Its up 8 and was already up 6 when the stopped opened. Thank you, seema. When the reports of these talks were out, we did see the Movie Theater chains across the board move higher on todays session, amc, cinemark, for instance. Now, so its 21, i dont know that i would play this it came from 16, it clearly leaped 14, even. Maybe okay it came from much lower. It was clearly leaked, because for the last five days the story spread around. The risk reward for the stock here at 21, i dont know im so concerned about the industry at large though that its almost an existential question for this industry were talking about that concerning Media Companies for this sector of entertainment, even more so. Who goes to theaters when you can sit at home, stream, for your whole family, and order takeout . Again, if theaters are a distribution outlet and certainly thats been the play, theyre certainly falling out of favor pretty darn quickly. And distribution is becoming even more aggressive with the biggest players in the world, i agree with karen, i dont think you need to be there speaking of the restaurant space and takeout, restaurant space is sizzling on the back of arbys acquisition of Buffalo Wild Wings, kate rogers has the latest reporter hi, melissa a 2. 9 billion deal including debt to buy Buffalo Wild Wings for 157 a share that is expected to close in the First Quarter of 2018. Now, the chain has been struggling with slowing foot traffic and combating higher wing prices. Its ceo sally smith was set to step down by the end of the year now arbys ceo paul brown who was brought in several years ago to turn that background around, will be ceo of both companies. Wendys rallied on the news as the company retained a stake in arbys when it sold in 2011. Who might be the next takeover market analyses say nails like noodles and company and zoes may be next Cheesecake Factory has fallen nearly 25 for the year, could make sense as a future acquisition although its a risky acquisition because of its exposure to malls which have been struggling for foot traffic. Bjs also has been floated two more deals that dont seem to go away, first ja Holding Company which owns panera and keurig, dunkin donuts, and apollo jack in the box has a q4 update on thursday. One more possible acquisition target is chipotle that stock is down over 25 year to date, melissa back over to you thank you, kate rogers at 30 rock with the arbys and Buffalo Wild Wings fueling speculation in the takeouts, each of our traders will pick two names who they think will make the perfect match. It starts to me with another takeout candidate, applebees and ihop, down from 90 to 40 bucks. I think tim hortons in canada has over a hundred countries and 20,000 locations its a big Balance Sheet, they could make an acquisition like that they could revive this struggling brand karen the apollo deal was interesting to me for dell taco, which i love i think that could be a match. S there geographic overlaps, some not it would give them more power to buy avocados, a re expensive headwind at cmg and many others faced this year as well as some labor pressures, thats not abating, make the av owe add dough situation has gotten a lot better stand alone, without any takeover expectation, i like it. It wouldnt be the what have we come to in the world, talking about avocado Pricing Power . Someone will invent the avocado thing so it doesnt turn brown nine seconds after you make your guacamole. Good point by you grasso, youre pairing . Texas roadhouse, a name we dont often talk about its up 2 year to date. Another match thats a smaller market cap, chewys, Authentic Mexican food they would make a nice pair. Great management team. I think both of them would pair up nicely. Roadhouse was a great movie with patrick swayze. Sorry history tends to repeat itself, mel. Back in 06 there was a Company Called osi restaurant partners, bain capital, if you recall, bought them, and spun it around and it went public its private equity and bloomin brands why . Because outback steak house, which i havent been to in years, that business seems to be improving. You have bonefish grill. Exactly shrimp on the barbie. Maybe history will repeat itself again and this will go private and reemerge bloomin brands. Ahead, the countdown is on for bitcoin futures. Even the incoming fed chair has something to say about it. Well bring you those comments when fast money returns. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. 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From our standpoint, crypto currencies are something we monitor very carefully we actually look at blockchain has something that may have significant applications in the wholesale payments part of the economy, something we pay close attention to that was fed chair nominee Jerome Powell speaking about how he is closely watching the big moves in crypto currencies that 10,000 level today as wall street gets ready for the big debut when it starts trading futures on the cme grasso, what are you hearing from clients you follow this space closely. Everyone likes to think they understand bitcoin, very few people do. Bk understands bitcoin these are savvy institutions, mutual funds, hedge funds, pension funds. They dont understand it yet they like that theyll have an ability to trade it. Is it that they dont understand it or they dont like the risks attached to it or they cant in their mandate own bitcoin. I think they have the ability to trade futures which allows you to sort of take out a lot of the volatility in it when you start trading futures, also the exchanges, which weve had them on the show, will say to you that theyre going to be able to adjust margin requirements whenever you do that, you dont know what happens there. Thats an untold story, that could take the fluff out of it it will depend on the liquidity, right, of the futures contracts had it starts trading. In the beginning it could be very lumpy in terms of what happens with that product. Yeah. Its interesting, though, i have a bitcoin position, i take money off the table but ill let the rest ride. I look back at the internet bubble, that chart looks durable compared to the bitcoin chart. You have to be ready for a wild ride next, fine trade. At tmobile, when you holiday together, great things come in twos. Right now when you buy any of this seasons hot new Samsung Galaxy phones, you get a second one free to gift. 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My job is not just to entertain but to educate and teach you so call me at 1800743cnbc or tweet me jimcramer. Oh, how the mighty havent fallen the market refuses to be brought down by news that would have crhe