Any new stimulus in sight. And that tiktok trade, you cant really trade it, can you, because its not a public company, but bytedance is formally seeking chinas approval for a deal with oracle and walmart, those are two publiclytraded companies. Yes, they are, jim lets talk markets lets start with that. You know, its funny, i dont know what you make of the pull back today, to the extent we are going to have one or what weve been seeing in apple lately. I keep wondering coming back to that softbank option purchase that we kind of we talked about it for a day or two and then we moved on. Right. You know, a number of people have come back on it with me, jim, and sort of said maybe it had a bigger impact than we realized in terms of the run up of some of these names. It did jack the market up in 1999 fashion which, you know, you know, led to 20002001 which was a disaster and it was frankly unnatural other than zoom almost every one of those stocks that they took up have been crushed apple tested down 25 on monday. Yes. Could see it again. David, youre right. That kind of unnatural buying was very similar to herd buying we have seen together whenever we have right before a really big selloff. Yeah, it was artificial, just like 1987 when the japanese would come in every morning, artificial id like to know more about the trade, but you have a beat on something that i had not thought b i really like that. I think youre right, we need to know more and unfortunately i dont have great insight i mean, they were selling puts to buy calls maybe its all over and done with at this point its not clear that it actually did work out given how big but it was an enormous, enormous trade. David, whats interesting is that they thought that the market could handle it like it was another generation like it was the 90s or the 2000s. Everything is so thin. When you come in with options coming in and you come in blazing, you do a blitz, the other side of the trade just freaks out and so what you have is you could just have this incredible short buy, short buy, cover, cover, cover, that just takes it it turned into something where even without any bad earnings, because the earnings were actually pretty good, we fell apart and i think that it didnt have anything to do with stimulus, didnt have anything to do with earnings, just had to do with the fact that the unnatural buying could not be sustained and now were dealing with the september hangover, we have a couple more days. I think i use the proprietary oscillator i paid for from s p and it came finally, year five, minus 5. Typically it historically means you have to do some buying so im there and thats my view. And you have bien been saying that for the past couple days. Monday was terrible there is a note today, david, a note from Morgan Stanley about alphabet, about google, and they raised the price target and they also talked lovingly about the earnings and about search but the main thing is, david, the stock it up 5 i mean, 5 thats not that dangerous. Good Balance Sheet, right . Right. Doing a lot of things right thats not an expensive stock. You might have thought that, well, that must be up 20 for the year no, weve given up a gigantic chunk of performance both in the soft goods, cloroxs, mccormicks and also in the flebalphabets a anything other than zoom the cloud stocks have been rolling over for a long time no one talks about how awful this market has been away from tech there is a note today about wells fargo talking about the stage coach might be leaving, what is that like jon fortt or something . Holy cow, stage coach is not going anywhere i dont think this is a compelling buying opportunity. Look at the banks, look at the tangible book of Goldman Sachs, we are well south of the tangible book. A note this morning upgrading it now, this is only up to jefferies which you know better than anybody, they had a better than expected quarter. Jefferies had a Strong Quarter, records on a lot of different fronts there yeah. So what does that say thats a transactional firm. It is. I dont want to recommend any bank stock for fear of looking like a fool, but jefferies bought a huge amount of stock at 16, you dont usually think about brokers buying back stock and i just think that that group that group has to bottom and we need to see apple and microsoft, facebook bottom and then were going to get an okay market. I do think we need to see some rollovers on the ones that havent rolled over. I dont think that snowflake should still be up here. I do think that the crowd strike should be up here, okta is too high david, i dont know, people come in and buy zoom as a default and i question that, too yeah. I guess you can and you can continue to given the multiple of revenues that we are talking about there. 50, up 70 you look at nikola and you say nikola you say to yourself, well, wait a second, there was a stock that was at 80. Wedbush suddenly see that the light has turned from yellow to red and theyre now down grading it. I always love a heads up like that. Yeah. 18. Its been a twilightzonelike few weeks for nikola investors they say. Some highs, the flagship Gm Partnership and a couple lows. I didnt see your mad money piece on t but i did read it yesterday. You were pretty i blew this one to kingdom come about 20 points ago because i didnt believe in the bp deal which the short seller hindenburg blew up the bp deal didnt really blow it up, bh they may or may not have. From nikolas point of view you could say, listen, we were very close to getting another anchor of our strategy, we had the gm deal, we were going to get this starting to move on hydrogen stations in a significant way with a partner there and we would have actually executed on the vision if not for this piece. I mean, again, david, that truck that looked like it was going 60 it was. But it was just going down the hill thats a bad fact for bp. That was not a good fact. They never said it was selfpropelled in their defense. They never actually said it. David, bosh is on the board. They are. Bosh dishwasher, its a real company. Dont they have to step off the board or do they just say we dont care who we are affiliated with. I dont know. Steven gur ski is a real guy. Sometimes you just get had. Sometimes you do. Mary beth, did she know about the magical truck . I dont know what she knew or didnt know. How about milton trevor, where has he been . Hes in quarantine, but not related to covid. Steven girsky is a real guy you want those trying to say i screwed this up but they never do that. They doubled down. Now are we talking too much about nikola do you want to focus jobless claims we can talk about jobless claims im happy to talk about whatever you want. Darden, i want to talk about darden. I dont want to talk about darden, how about that i dont. No . I want to keep talking about speculation in this market did you see sbi energy yesterday . Isnt this california it was a 40fold increase in a day. Ive never seen anything quite like that. California insisting on we love solar. It was a hemp company, its chinese to your favorite, you love those Chinese Companies yeah, it was a buck, it was about to be delisted and then they moved suddenly into ev. Thats good. And the stock yesterday was up at one point. Is it a spac, too 40 fold im not saying four. 40. 4,000 . Thats a nice gain. Thats like its like powerball. Its still there. Your robin hood traders are still out. There theyre still out there, jim. Fryer tuck is about to is fryer tuck dave portnoy. No, hes doing the sports book there hes still stocks, a resilient fella. David, there are some calls i thought you were going to drive me to in terms of a speculative tok. Okay. Designee. When you see needham cutting numbers by 26 , looking for 69 cent loss, parks down 69 , david, thats not good. Its not good parks is tough we know that we know that as well for comcast. Theme parks is a tough business to be in. In a pandemic its their first pandemic. Listen, at least theyre open. Yeah. People are coming. They are open but when they start movie theaters, remember those, still an important part of it. And then sports rights and listen, bundle we know all the questions, but investors, jim, are solely focused on one thing at disney and you know what it is. What . Direct to consumer. Thats it. Thats all they care about. Why not ultimate fight club thats on some island somewhere, we dont know where that is in order to be able to prevent covid. Is that what theyre doing now . Yes, they are on an island. Okay. Im not kidding. So an island with all these fighters on it. How about thumper i mean, bambis mother. Yes. Fantasy island, this stuff is too scary. Talk about Twilight Zone i love some of these calls today, david im thinking in Bed Bath Beyond call is the one the call of the day, baird making big calls foundational changes occurring 80 of the analysts hate it. 58 short. It is a home spending opportunity and theyre calling it too hard to ignore. I like that. I mean, i like that, but i also do the other side, i like nike coming down. There is a lot to talk about. Bed bath, how about that. How about that. The physical stores are doing okay or is it really just is it the digital channel for them that they have to hope they have to put in a digital channel. I know. I know im going a little scatter shot here but the market is scatter shot. Lets come back to the broad market for a second andthen i want to talk apple we mentioned briefly at the very top this down grading of the Fourth Quarter expectations over at Goldman Sachs and the reason of course seems to be that we estimate the withdrawal of fiscal support will reduce disposable income to the pre pandemic level an extra round of benefits is being disbursed and nothing further is coming because we are not going to get a deal out of congress they go from 6 to 3 gdp growth on a quarterly annualized basis for the Fourth Quarter. If the market just craters, dont the republicans come to the table . President trump doesnt want that the more the market goes down the more likely we have stimulus. Because hes focused on the stock market. Completely. Hes focused on a number of things. He doesnt want the stock market to go down. He doesnt have a lot of firepower like powell does, but he can come in and make a deal with the republicans david, you keep talking apple. I see you, apple, and i raise you with j bill. A better than expected quarter what do they make in electronic manufacturing they make apple, they make the cellphone. Right. One of the many makers. Meanwhile, people are selling apple taking it down 25 why . Because the chart is bad the chart is bad, apple. Its been rare has been the day when you havent liked apple but you certainly seem to be positive. I liked it since 2. 5. Thats a good call a lot of people think im a knuckle head on twitter and they are all right because im jimmy chill. Like when i do the mask and gave a lot of money to have a mask competition, a lot of people hate that. Thats a good idea to hate me for that, right . I dont know about that. I got 3m involved, i got honeywell involved, i got under armour involved and im hated for that. Speaking of twitter, does the move in twitter yesterday, it did come down add the market weakened over the course of the day. A Pivotal Research note, people take that analyst seriously. Twitter might have voice, lets get siegel on, unless you can get dorsey on. Back to apple for a moment. Okay. What is the thesis in the thesis is like okay. Its down 25 , it is going to have a 5g coming soon, thats thats not a refresh, thats a gigantic news cycle. The Revenue Streams for service are even better. You talk about disney direct to consumer, im giving you the falva director making a movie for apple. I paid my apple bill again this week, i didnt know it contactless. My world my little world thats pathetic because my wife doesnt live with me anymore revolves around this i by the way, we should make it clear to people it sounded like its not thats a choice based on the virus, correct . Not necessarily oh, you mean like that youre living separately its a chose issue, my wife lives away from me because there is this thing called the pandemic and we want to be socially distant by like 70 miles. That can work. Right but i have this. I talk to siri every night because i aint got nobody to talk to. You aint got nothing. Shes polite. Thats a reason to own apple, siri can be your imaginable friend google the price target go up. Facebook nothing today but 50 billion opportunity in the shops that nobody is thinking about. All right. Amazon, i mean, really is amazon doing badly . If the pandemic rages again . Of course not but the stock is up 62 this year. I want to go buy a good steel mill, right . If you are in the market for one i have a good one for. You we have to stay away from do you want first horizon, david i will give you some first horizon. Okay. Sold to you. I have give you some truist. Oh, yeah. I played truist hes playing quarterback for me in fantasy, turns out it was a back. Coming up, hey, why not talk more about that tiktok deal, plus a lot more. We have talked a lot about movers this morning, we have hit some research but we have a lot more keep it here diane retired and opened that pottery studio. How did you come up with all these backstories . I got help from a pro. My financial professional explained to me all the ways nationwide can help protect Financial Futures in peytonville. Nationwide can help the greens get Lifetime Income because their son kyle is moving back home and could help set up a Financial Plan for mrs. Garcia. And he explained how nationwide can help mr. Paisley retire early and spend more time with his pal, peyton. And their new band. Exactly yeah. Dont forget the band. I havent. The big events are back. Xfinity is your home for the return of live sports. Bytedance of course the china owner of tiktok filing with beijing with the Chinese Government for approval for that deal for the app to be at least sold in part to walmart and, of course, oracle, jim. The question here is in terms of the export of ai, which is something that is now regulated by the Chinese Government and whether or not they will say yes to this highly unusual and significantly structured deal. Well, it would help if you wanted the deal to occur it would help, i believe, for some of the principals, for walmart, for oracle to come out and talk about the jobs, to appear on air, to make a case both for china and for this country, risk the wrath of the president for saying something about how china does okay. Oracle is now back to where it was before this happened, which is is incredible because its such a good deal for oracle, but theyre too secretive, david Larry Ellison is too secretive, safra catz is too secretive. Everyone is afraid of the president , i think, even though i know he will son you dont want to say the chinese can do good here, this is a good deal, because the president doesnt want to hear anything about china doing well and i think thats an obstacle. The white house in some ways does seem to be trying to provoke the chinese and it will be interesting if the chinese take that or continue to step back the way that they largely have over these last six months. Since the tensions have been ratcheted up since the virus. Good for america, 25,000 jobs, pretty good in austin, oracle does well, walmart does well i think that the navarro wing just doesnt want anything good to happen to china. You are a hardliner but i do wonder about whether or not we are going to have this technological divergence between our country and china t appears that that is going to be the case and when it comes to ai in particular which we could argue is the next significant wave in evolution of technology in the world, the chinese are equal if not ahead of us in some ways. And thats not acceptable. This platform, people think of it as fun videos and things like that, its ai thats what it is. And the fact is that you may think of this as a game company, but it really is ai masqueradin as that and its incredibly sophisticated artificial intelligence. Yes, thats why they use fastly they have to use fastly. Fastly is the only content Delivery Network that can handle this thing thats one of the reasons fastly trades up. Fastly is trick tok, thats how it works so well you are so right, david, ai as jensen wong would tell you the brilliant man who runs nvidia is not the future which is what marc benioff with a was saying yesterday, its now. Its now. As someone who i regard myself as a patriot, you cant let them win ai. Ai isnow and i understand the navarro wing entirely, but i think this tiktok deal is such a big win for america and i cannot believe that oracle and walmart remain silent. Who are they fearing its not them that they need to convince, its beijing that needs to be convinced. They can talk about how beijing does well, too all we hear about is beijing is a big loser. And how are they a winner here its a huge amount of money, david, versus what it would have been alibaba, Carrie Firestone recommended it yesterday david, i think that that stock is one that we have to keep an eye on when i look at what happened with nike in china, the Chinese Consumer spending like you wouldnt believe 8 growth. Again, the president doesnt want to hear, who is cramer, why is he saying good things about china, the empirical, the numbers there are very good, alibaba is very good it is time for someone to say its okay if the chinese win something. Its a trade war, we dont want it to be a hot war even i dont want a hot war, i dont want to go back to the days when nixon is visiting china stealing those little things. That is the concern among some when you get to you dont want it to be like going to the yaloo. You had benioff on the other day talking about ellison. Lets take a listen. You dont want to do that now . Or you do . Oh, it was on closing bell. You meaning the generic you. When benioff comes on i assume hes always on mad money. I know, it hurt my feelings but thats okay. I bet it did. It did, it hurt my feelings i texted him. You did i said what are you doing on that show . I dont blame you here is what he had to say about Larry Ellison. You should never sell Larry Ellison short. Everyone in the world knows that so, look, i dont understand everything thats going on, but, wow, im so impressed by seeing, you know, them and everyone else make these aggressive moves