that treatment >> the market has a raw nerve about higher rates i don't think this is a change in the story, it's a of rory rebound, but i think we are skittish. >> 2.91% we hit on the ten-year. that was enough. even though we came back down on the rates the markets went down as well. time for "fast money." that does it for us here at "closing bell. that show begins now >> "fast money" starts right now, live from the nasdaq market site overlooking new york city's times square i'm melissaly pete najarian, tim seymour, and grasso a crypto star is born a. 21-year-oldst started his own hedge fund and he says a way to make money in bitcoin where the cryptocurrency goes up, down, or nowhere at all he will explain how to do just that. first we start off with the fed and an unfamiliar sound. the sound of doves crying. >> oh.

>> you know it's been a tough day in the markets when we bust out prince yep, investors were crying as the brand-new fed chairman, jerome powell testified before the house financial services committee for the first time in his new role and sounded hawkish than they were expecting sent the dow down 300 points steve. can't get over the prince reference. respect. very cool. >> here's the question will powell be singing a different do you know on thursday >> you know, that's possible fed chair j powell was doing just fine in the testimony until congresswoman maloney asked him what would change the rate hike forecast from three to four. he started by saying a strong economy. and here's what he continued with we have seen fiscal policy become more system you lative.

i think each of us is going to be taking the developments since the december meeting in and the writing down our new rate paths before we go into the meeting and i wouldn't want to prejudge that. >> jp morgan said today's comments appear to open the door for others on the committee to revise their forecast as they see feet and powell himself may be inclined to look for four hikes. that's what the ten year thought. at 10:40, stocks were powelled here are your probabilities. 97% chance for the first rate hike in march. these are the thompson route iers probabilities and the fourth rate hike, it has a 26%. here's the question. how deliberate did powell mean to be in this comment? could it be a rookie mistake if the so it could come back thursday and redirect.

or it's possible that's exactly what he wanted to say. he wanted the market to begin right now to begin to think about the tail risk of a fourth hike. >> under his predecessor, janet yellen there was the assess men that there was this gellen put do yo believe there is a powell put based on his testimony and q and a? >> i i believe we have to learn that yet i think this is a fed chair who thinks more and more about the markets. he said a couple of times this is a good policy or that's a good policy because the market understands it that's clearly important to him. at the same time, a guy who is more market oriented may be less inclined towards intervention. we are going to see. sort of i guess how republican is this monetary policy for example, compared to the more interventionist policies of bernanke and yellen. the caveat on what i just said is important here because yeert yellen nor bernanke, certainly

not yellen had a very strong fiscal impetus coming through the economy right now. >> you can sled a guitar yourself really nice >> thank you >> most people know that ♪ >> there it is listen all right. he said also that, in my opinion, i is he some data that in my view may change my view on inflation. >> exactly. >> that the me was very shocking and says he stands out from other members of the fed >> tim, can i take a step back you say, showing i'm not sit on money i need to trade today, tomorrow or or this hour or that hour. but if the end result of this is 100is bass woints versus 75 is that really that shocking if i give new that context 2.5 to 3% growth and unemployment rate as well and inflation at 2%? i think that's cool and i don't see a problem in that. if i see the fed going 100 basis

points and i'm not getting the growth, then i'm concerned >> if you look at valuations on equities, you can look at fries to sales, price to book. >> right. >> you can make an argument that valuations are pricing in at 3.75 ten year, are pricing in this type of volatility and you immediately change in a valuation construct. i'm not freaking here. but i'm telling where you the market is positioned versus what they got today. >> that doesn't change i don't want to make this into a conversation between you and me because there are fine people around the table but are we still talking about earnings that are supposed to rise by 15 or 16% with a good chunk of that bus of tax cuts this year. >> yes, although if you look at equity valuations right now they tell a lot of that good news i am constructive on earnings. i think they are going to be better as the year goes on but the market's reaction, every time with fed minutes, cpi, wage data and the payroll, every time we get the market feeling we are off sides on the fed's view on

policy and the ace of it markets start to vol. >> by the way, steve, most people around the desk do say it does make a difference, 25 basis points in the context of the markets. i think from an economist point of view it doesn't make a big difference in the long term point of view it doesn't make a difference but right now to say 4 versus 3 that's a big difference especially for a market that hasn't 100% embraced 3 versus 2. >> i have a five or ten year horizon on my personal portfolio and 25 basis points -- you high frequently guys -- your attention span already moved on. if you want to talk about 2019 and where the fed is going to end up, if that's freaking the market out that makes a better case to me >> we have got to go our attention span is over all right. >> thank you steve. >> go on. >> with the rates on the rise and a hawkish powell at the

helm, have you investors start fearing the fed. >> i don't know if they are fearing the fed but everything this surprised everybody everybody thought we are likely going to have three rate hikes this year. the idea, the idea of being that it seemed to be. braced by mr. powell was well it could be four. the good use is we were up 100 yesterday, down 300 today. volatility is moving all over the place. but we are seeing this before we have gotten into march if anything else, you are giving us transparency that the fed has been giving us for years. >> it is good to get it out of the way in terms of the poe telegraphing of this potential move. >> but he might be for it. but there is a whole bunch of other people in the room that have to decide. >> i don't think it is the rate hikes. it's why he said it. steve said it in miss commentary it's because he was concerned about fiscal policy. right? he was concerned that we are going to get this big stimulus while the economy is already growing. so that's what i think the market is pricing in, saying you

know what, you are throwing kerosene on a fire here and the fed's not going to have react on extra time 25 basis points doesn't matter the market is saying, when this thing really accelerates and margins compress because you can't raise your prices or you get inflation and it's not working. so you have margins compressed >> he is on record to that point saying that he thought -- he took a step back and said maybe these tax cuts are going to be less inflationary. so i do believe he is trying to figure out where he actually stands on this but if you look at the markets, last week we were at 2700. that's where they were pricing in four. now they ran them up because they said the risk is going to be -- he is going to be less hawkish, more dovish today now you are going the see that air coming out a little bit. i would 2700 is the floor, getting us back to where we were. >> it comes back to uncertainty. this is what we are saying if today he said the impact of fiscal policy on inflation is uncertain, that's a fed right

now who is saying you know what, we don't know what we are going to do. by the way, this is the guy that's really today tells me he is a centrist and a pragmatist >> if the fed is data dependent, which is basic three what it was before powell, why did we sell off? >> they confirmed the market's fears there is going to be too much stimulus coming into the economy. tax stimulus, then fiscal system includes infrastructure spending. all these things that's what the market is afraid of by powell saying that he confirmed everybody's fears. >> do you think there is anything in what was heard today that actually algos are also sort of programmed to react? >> sure, they are. >> right. >> that's what i think is part. >> on words of the testimony, you could see the algos going to work. >> we were at 150 points at one

point this morning suddenly we are giving it back and toward the end of the day we are dumping. >> in the final hour, too, pretty much. >> keep an eye on that that's something that sooner or later that's going object in the past and then we move forward but that was reaction to today. >> i agree but where we have a healthy disagreement at this desk, you said vol has been higher but hasn't been that elevated for that long. i kind of agree. although this extended period, 20 days north of 15 on the vix, maybe 15, which we haven't been since the fourth quarter of 2015 if you start to price equities a at different volatility, a different risk level, at a 10% ten-year in an environment now where we have got valuations that can be argued are above valuations, equities are a good investment. >> if we are close to a four year high right now, i don't want to fay as much for these

stocks with vol higher >> cash. >> the dread -- >> he said it. >> you are not trading all in cash. >> people think about the next six months, can i be in bond rates are going higher can i be in stocks lot of volatility. great buys are out there we will talk about them. or i can be in cash. that's a healthy debate. >> with that said, what did do you today? >> it was quiet today. i added to an intel position i already had, i also added amd because i like the chip space. i think those names. going forward there is going to be money turnings we were talking about and steve talked about some of the earnings projections going forward for the year i think there is a lot of reasons why volatility is in the market i don't know that we hold on to this 15 as long as the rest of the disk thinks right now. remember, that's a 1% move every single day from the s&p every single day it's not as easy as it sounds to hold it at 15 and a 16.

>> i didn't know that. >> interesting >> watch large cap tech, specifically china it's been weak it's the proxy for china growth. i'm watching alibaba that's where i am long i have not bought more yet but i'm looking at it. >> i took some off in the oil sector we have a stronger dollar to me. to me, why not take some off that's not a call like timi tim was saying, cash i'm joking that he said that we bounced against 2800. that's a technical resistance point. >> i sold some u.s. steel. i sold commodities i think they have got a shot because i looked at the last pullback and the stocks are right back near the rally highs. i can get them cheper. the biggest media companies in the world could be gearing up for a bidding war. but the real winner of all that bidding talk might surprise you. scared of bitcoin's wild swings one 21 gerald hedge fund manager

from queens says he cracked the crypt to code and will be able to profit no matter what the cryptocurrency does. one of the best performing dow stocks in the past year is about to break out into ghhier highs. we'll find out why he is so we'll find out why he is so excited about thisrs even more . and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. line. at $4.95, you can trade with a clear advantage. when this bell rings... ...it starts a chain reaction... ...that's heard throughout the connected business world. at&t network security helps protect business, from the largest financial markets to the smallest transactions, you are watching "fast money." keeping the world of business connected and protected.

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designed to save you money. click, call, or visit an xfinity store today. comcast could be sparked a bidsing war among the titans julia boor citizen has the story. >> comcast is making a $31 billion all cash offer for sky this is 16% premium to 21st century fox's offer for nearly two third of the company that fox doesn't yet own. comcast is looking to expand its international reach. it's drawn to sky's 23 million customers with sat light, broad want and mobile services plus it has broadcasting with news and valuable sports rights including english premier league soccer comcast's ceo says he would be satisfied if he can buy the 61%

that fox does not control but he would like to buy out fox is own the entire company >> as a european market leader, it would increase revenues from outside the u.s. to 23% to the current 9% and we would drive the growth for the combined businesses. >> comcast pits them against disney and fox all three companies' shares dropping today the murdoch's have been struggling to obtain regulatory approval for fox's deal to buy out the rest of sky. and james murdoch's is sky's chairman sky's stock today, fox saying quote it remains committed to its recommended cash offer for sky announced in 2016. fox had said timing for the

close was supposed to be june. lion's gate shares ending up about 2% on report that haase brow is close to acquiring that company for at least $40 a share. that's about a 37% premium to where the stock is trading now la lista. >> thank you julia julia boor citizen in los angeles. quietly, flicks is sitting pretty now worth $128 billion more than time warner, fox, and viacom in fact, only comcast and disney are bigger as the media wars heat up, should you just keep it simple and buy flits flicks >> my own would be yes guy adami also talked about this it's the growth skks the content. they continue to grow in the content space. in 2018 that's going to continue, it's going to be huge. the commitment of the $8 billion they have for content and everything but when you look at the international growth that is what is still -- it's

remarkable, frank lesion prouch growth they are sbeting internationally. continuing in the u.s. it slows down, but sshlly it's 1% >> i think the revenue is stable and there is growth. look how it has traded we have had a tremendous run in this i think this. we are talking about higher interest rates this is one of those stocks that should suffer in any downturn that we have i would be concerned about the position of this and i would wait -- >> on a relative basis >> didn't sold that hard when we went on the selloff. >> but we are at the highs >> it rallied back just as hard off the lows >> do you want to buy it at the highs? >> why wouldn't you wait for a sell off. >> what's your question, tim. >> i have a question >> look he raised his hand, too. >> i'm raising high hand. >> that's what polite people do on this show you don't value it like a media company bass it's too expensive on a content basis it's debatable right now you don't value it on a core conduit play or the pipe that

gets it into your house. what's the value position their this company why are we trading at this multiple. >> they are trading it like a tech growth company. there is no logical answer that's going to make you happy about it it doesn't trade -- i agree on every metric that you named. it doesn't trade like that it trades like a tech growth company and you can't put a multiple. >> would you buy one of the legacy plays then. >> i would comcast, our parent company is very, very cheap on a trailing basis. i bring that up because stocks -- >> and you want to keep your job. i'm joking. >> as you heard the chairman said, this is ultimately about an international growth strategy that gives them 25% of the earnings outside the united states it is a company that i think scale right now and the choice assets that sky is complimentary. a deal that looks easier to get through than the disney sky deal, disney fox deal. that's why i like it.

>> i have a question as well i recognize myself and my question is would you rather -- >> oh. >> i think brian robert and steve burke are not listening. answer honestly. would you rather comcast or flicks >> -- comcast or netflix >> netflix no hess dags >> longer term, i agree with you. comcast is a longer term bet more stable environment. floirks is volatile. >> i would have said the opposite i would have said floirks is a longer term play because they are positions for future streaming, blah, blah, blah. and comcast is shorter. >> i think you are going to get growth up front and you have to start pricing in all that growth i think comcast longer term, floirks shorter term. >> it is not a question for me i'm not going to flip now especially on a relative value play what's going on with disney and

what's going on with comcast, they are getting bigger, controlling content. they are going to have more to deliver themselves comcast already can. disney isset going into that business. >> i would rather be in comcast it's about risk reward >> still ahead, what has been an epic rally for square. we will hear from the ceo later this hour. i'm in lista lee you are watching cbs, first in business worldwide in the meantime here's what's coming up on fast. >> how would you looic to make money on bitcoin, if it goes up, down, or nowhere at all? that's incredible! >> no, it's just a simple strategy devised by a 21-year-old genius from queens and he will be here to tell us how it works. plus, pete's bringing the heat, pitching one dow stock that's up over 40% in the stla year year and he says the rally is

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welcome back to "fast money. retail seeing a reversal today as the xrt, the retail etf fell. macy's dillard's and target held their own against amazon if you are putting fresh money to work, would you rather, traditional brick and mortar or amazon >> i have been a fan of amazon for a long time. when you look at this chart it seems like it never wants to end. i would say you have to take this -- what is your time horizon here brick and mortar has been so beat upon that you can see that pop last a quarter or two more i would say would you rather right now in a vacuum -- >> you would say bricks and

mortar. >> bricks and mortar. >> our next guess says retail's rally is not over yet. chris verrone from strategic research partners is here. >> we have three names we want to talk about today. the first of which reported this is macy's. it's really been sideways for the last three months. i think what is important, when you look at the volume surges here, all on updates, volume surge today, on an upday the stock is being accumulated here we think that's a positive sign going forward. when we step back and look at the bigger picture this is three-year chart, bumping up against that 28, 29 little we think ultimately this turns up at outperforming in a tough tape that's a sign of strength. two others here. and when we look at the name i think what's most important, 23 analysts cover it and there is only six buys. the street still doesn't like it i think importantly the current price above the average analyst target so the street has to bring up their numbers.

that's a positive. two other names here tappestry. this is the old coach. putting in a big bottom. higher low higher low higher low, up through 49, 50. we think this is a $60 stock so improving here, certainly, in retail and lastly one of our favorites, lulumemon. dead hundred for six years just starting to push up against this 80, 81 level. we think it gets through there and goes higher. macy's coach, lulumemon, we think three stots spots here that look good in a tough tape. >> i think chris comes over. >> come on over. >> come over, karen will bring the chair in thank you karen. >> good to see you. >> on that last chart, lulumemon, how convinced are you that it willic break above that level? it looks like it tried a couple of times >> we feel good here it's passing a test. this is a tough tape the market has been uncomfortable. and this one is finally showing us for the first time in five or six years it can outperform in a

tough environment. that's what we want to own we are looking for names that have passed that test over the last three, four, five weeks. >> chris, going to that, people talk about there is no such thing as a triple top, right >> sure. >> one, is that true in technical analysis i have never seen a triple top in a technical analysis book and what would convince you -- if it is true, what would convince you it is going to be that mittical triple top is it a volume thing >> i think volume will be important here what we want to see any on breakout is evidence that the stock is being accumulated much like we are seeing with macy's on every up day the volume has been big this is more than a head fake. i think it's important at this 80, $81 level. >> we play would you rather. can you see a scenario where amazon and macys or amazon and target rally simultaneous or does there have to be give and

take between the two >> i don't think it's give and take we have a rule, don't sell anything until it hurts you. al amazon hurts you we don't sell it. we can manage risk and i think there may be an opportunity here can both work at the same time they are doing it raw no i think there is evidence going forward they are not mutually exclusive ideas. >> how does walmart look >> tough week last week. right back to support, 200 the problem i have is the sector it's in. consumer staples is not leadership i'm not sure we have group sponsorship behind this name to carry it if things get tough discretionary has outperformed stap elts. i would rather own a name in that group. >> you are out of macy's. >> i traded it from 20 to 27 and felt we beneath needed reinforcement to get it constructive on a lon term environment. i guess are we in an environment where amazon position is too

extreme and there are too many guys that side of the boat no one is negative been amazon. >> what was leadership going into this has by and large remained the leadership coming out of this. this is not a leadership change. i think we still have to view this advancement at amazon as the same advance that has been with us the last several years until it fails that test we can't sell it yet. >> chris verrone quick programming note tomorrow night on "mad money" with jim cramer, jim cramer will interview the ceo of under armour kevin flank at 6:00 p.m. eastern time >> still ahead, square sink. weight watchers gains. it is gaining. 7% the company conference calls are under he with a. we will hear from square's ceo jack dorissy and hear what wait watchers said about dj khalid. stepping up to the plate getting ready to pitch the one dow stock

he says is about to surge. it's already up 40% in the past year will the other traders agree find out when he delivers his find out when he delivers his fast i've gotta say, i love the new place. find out when he delivers his fast oh thanks. yeah, i took your advice and had geico help with renters insurance- much more "fast money" after this easy. that'd be nice. phone: for help with chairs, say "chair." phone: for help with bookcases, say "bookcase." bookcase. i thought this was the dresser? isn't that the bed? phone: i'm sorry, i didn't understand. phone: for help with chairs, say "chair." does this mean we're not going out? book-case.

see how easy renters insurance can be at geico.com. we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offering $4.95 online equity trades and a satisfaction guarantee. if you don't like their answer, ask again at schwab.

i we worked with pg&eof to save energy because wenie. wanted to help the school. they would put these signs on the door to let the teacher know you didn't cut off the light. the teachers, they would call us the energy patrol. so they would be like, here they come, turn off your lights! those three young ladies were teaching the whole school about energy efficiency. we actually saved $50,000. and that's just one school, two semesters, three girls. together, we're building a better california. welcome back to "fast money. we have a news alert papa john's sinking after hours. coulder me reagan is in the newsroom. >> first we have earnings from papa john's. it was a miss. and weak comps and on the company's conference call, ceo steve ritchie says that the company, papa john's

andthe nfl have actually decided to end their partnership. so papa john's pizza will no longer be the official pizza of the league, which they have been since 2010 however, papa john's will continue to invest in the nfl through its 22 team deals in local markets. but the nfl is expected to have a replacement pizza sponsor before the 2018 season begins. papa john's shares are down about 6.5% after hours. >> thank you very much kourtney reagan of course this is after the former ceo, john snader actually made comments on an earnings call blaming the nfl for some of its pizza problems and here we are ening the relationship. >> the statement itself was making a social statement. >> right. >> it's not just the nfl i think it is a company that got on the wrong side of what is a big dialogue in our country. you get to the place where the valuiation in a competitive

space, there is room for consolidation in this industry i don't jump in on this news. >> domino's. >> domino's is up 20% year to date look at the stock, it's hard to bet against domino's obviously papa john's their loss be that their gain and i think even without them, domino's can consistently performs and will continue to do so. >> didn't guy work there >> he did. he worked there for a small amount of time. >> an hour or so. >> and ups the brown shorts >> steak shack he can't hold down a job, apparently anyway, from a fumble to a home run. it is time for an instant replay in august pete stepped up to the plate to pitch apple >> it is tea management. tim cook everybody else talks about he has taken his eye off the ball he hasn't taken his eye off the ball everybody talks about it's just about iphone it's not it's about the growth and his vision out forward talking about services >> that was a great call, pete

apple shares up dugt digits since this pitch what do you do with the stock. >> hold on to it i think it's still the early innings for apple. how about the phone and they are having problems with the next generation of phone. i disagree i think that's just a part of apple story. the real story is services and the next one, everybody is going to be talking about this, wearables, the growth in their wearables is absolutely extraordinary. and nobody wants to talk about it yet. >> hold on to it since you hit it out of the park with.ael, pete, head over to the plasma and give us another home run idea. >> today i'm going back to minnesota. united health. this is a great company. i think it's well run. as always, where do i start, i talk about the management and the experience they have dpt the ceo who had been there over a decade just stepped down the next man up, wickman s going to be doing an outstanding job he has been there for 20-plus years and he has been running

domestic and international he already knows what he is doing. i think he is the right guy. they talked about that in the recent conference call about how strong of a leader he is going to be going forward. the strong fundamentals story. the backdrop right now is multiple different areas when you look at, this it normally trades at a 20 p/e. it is trading at 18, maybe as low as 16 depending where you are with your earnings going forward. when you look at some of the fundamental story right now. plus the taxes from 37 to 24, there is a lot of different elements right now that i think are very bullish and every i think issel quarter they beat and raise. and that's what they do. it's impressive growth as well when you look at the growth and the revenues over the last decade it's been over 15%. so when you go across the entire story of what's going on right now with united health, yes, it got up here pretty high. it was near 250 right here it had a pullback. it's about 6% off of those highs. i think this is a name like humana january of last year that

screamed higher. inthis can go towards 300. >> i love the story, too, but i'm concerned about the valuation. i'm also concerned about a slowdown in the optimum or some margin compression in that part of their business which has been huge any thoughts on that >> i'm not as worried about that because going forward i think there are strengths they have in term of the some of the margin i think a lot of the business story here -- you know, the beauty of what they have done is diversified areas that are actually feeding into united health had because of that i'm less concerned about that. >> no more questions time toet vo are you buying pete's pitch on you auto united health grasso >> it's hard to pet against pete i'm going to buy it. i think it has room to rally, maybe another 10% to the old recent highs. >> i love the pitch but i don't want to buy into it at these levels >> sam

>> i think pete's buying this and he is a healthy guy. i hear he is in the iron zone himself right now. here you go, pete. >> two yeses, one no on this desk what do you think out there. >> are you buying pete's pitch for united health? vote in our trader poll right now. go to cbs "fast money" and we'll reveal the results later in the show >> square and weight watches down.5 2 after hours weight watchers is surge we will listen in on the conference calls underway.

much more "fast money" after there.

♪ whip it. >> it's time for our earnings whip square and weight watchers on the move after hours we have got deirdre in san francisco monitoring the square. and courtney reagan is monitoring the weight watchers call deirdre we start with you. >> the peer to peer payments app, on that app, square saying it has 7 million monthly active users as of december paypal hasn't introduced that number for venmo yet square may be making inroads it generated buzz for cash when it started adding bitcoin capabilities late last year. ceo jack dorsey was asked about that and the future of bitcoin at square on the earnings call here's what he said.

>> bitcoin for us is not stopping at buying and selling we believe this is a transformational technology for our industry and we want to learn as quickly as possible. we also believe that it does provide an opportunity to give more people access to the financial system and certainly, that's in terms of assets, but ultimately over time through currency. so we are going to have learning mindset and make sure we are learning and leading here. >> melissa, we can't really see the financial impact of bitcoin on the square platform just yet. but as dorsey says we may just be seeing the beginning of cryptocurrencies on square he says he is thinking about it in terms of the future of the payments industry. back over to you >> deirdre bosa monitoring the square call. you have been a long time believer in the stock? >> i'm still a believer in the stock. i wouldn't be surprised if you see it pearing off on some of its losses and up tomorrow gross payment volume was up 31%.

they are adding larger merchants. it used to be a boutiquey payment service. larger merchants are signing on. adjusted research wasup 47%. buzz words are bitcoin but i think the macro story is intact and they go higher and it's about square's services not just payments. >> do you think it does seem to be trading in line with bitcoin. the correlation is crazy we met with management they are doing a fantastic job truly small business in a book that's what you want if this is the company. >> i'm going to fweg to differ that correlation is not causation. i hear you fur looking at a chart you could say there is correlation between bitcoin. but i think it is one to one racial yoechl i don't think that's the reason why it's rallying i think a lot of the stuff was in the numbers i believe you will see the stock up tomorrow or the next couple of days. >> he did a good job of making clear it is an educational opportunity for square it's not anything that square is seeing the impact of right now. >> maybe not

and i agree with steve in that what you have here is a company that's growing and they are creating a network this is all about network effects. once you have that network effect then you can start selling people services, just labor apple does for me, and i think this is what jack was getting at, is that the bitcoin is a leader in this. he so you look at what happened with robin hood. they opened up, they got 1.5 people signing up for their app in four days if you can do the same type of thing with square and increase your network then yeah, you know what, bitcoin is going to have an impact. you may not be able to measure it but you are going to get more users. >> let's get a check on weight watchers that stock -- i'm going the use i it again, gaining in the after hours session. >> the shares may be beginning but i think that the members are losing weight watchers turning in a strong finish to the year with profit and revenues coming in above expectations shares up more 7 pbz after hours on the results as the company also puts up a strong revenue forecast for 2018.

so services, revenue, that grew 16%. that's a bigger big unit than the product business that's smaller but it also saw sales grow about 2%. membership of 23% for the fourth quarter. weight watchers shares really soar in the past three months in particular, up about 67% on the call, the yoemt points to marketing success from both oprah winfrey and dj khalid. thanks those 9 million followers on his accounts following his weight loss journey. fresh room is coming later this year they added its first chief brand officer. she comes from union lever back to you. >> dj khalid >> khalid. >> did you hear it >> i heard thank you court me educational. >> somebody knows how to pronounce his name this is a seasonably strong

quarter for weight watch he is. >> why are you looking at him. >> i'm looking at you. not because anybody needs weight watchers people at the end of the year say they want to lose weight >> it's been on a roll -- no pun intended it's been on a roll a long time. if you go back, who is the best -- >> oprah. >> i'm not kidding when i say this oprah. >> yeah. >> she is the activist investor. if you ever wanted one. >> she carries a lot of weight. >> just look at -- she can carry a lot of weight. i will never forget when she took that huge position i thought she can really move things around. >> she tipped the scales. >> and made ate lot stronger no, but the interesting thing is look at the growth that courtney talked about >> big growth. pound for pound -- >> i think you should be overweight. >> we can do this all night. >> dj khalid opens up a new audience men, younger people.

>> and dj. i. >> i heard when he turns sideways you can't even see him anymore. he is fading away to a ton unbelievable. >> just a beard now. >> anyway. we are moving on but sticking with earnings. sales force reporting after the bell tomorrow. mike khouw >> bullish bets were outpacing the bearish ones the most active options were the march 110 calls trading for 7.80 those are people that are betting that the 4% implied move is likely to be to the up side for sales force which is probably explained by their 60% plus eps growth. weight watchers -- after new year's i signed up male representation. >> you did in you do look slimmer. it's working >> how do you handle the chinese restaurant that you like to hang

out at though. >> see, that's not permissible you have to look at the menu there are zero points items. my chinese restaurant ain't on it you >> look sculpted right now >> mike khouw, thank you for more options action, friday at 5:30 eastern time. one 21-year-old has figured out a way to make money no matter which way bitcoin goes. he will be here to tell us how in just a few minutes. in just a few minutes. you are watchings toocomplicate? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy.

what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade cnbc live at the nasdaq marketplace hi i'm joan lunden. today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms and swimming pools, public cafes, bars and bistros even pet care services. and there's never been an easier way to get great advice. a place for mom is a free service that pairs you with a local advisor to help you sort through your options and find a perfect place. a place for mom. you know your family we know senior living. together we'll make the right choice.

welcome back to "fast money. simple question here what's the price of bitcoin? well, the answer is not as simple as the bitcoin bug at the lower left of your screen. and that's created a windfall for one very bright 21-year-old. stephenan chen is the founder of virgil capital a hedge fund that focuses on the prices that bitcoin is trading at on different exchanges. essentially, you take advantage of the arbitrage that exists across exchanges >> exactly there is a bunch of different pricin discrepancies between all the markets in bitcoin right now. we try to take advantage of these opportunities to make a lot of money. >> how do you do this? >> it is a good question right now, unlike the

traditional equities markets or the four x markets you have got hundreds of different exchanges each with their own different prices and different competing traders. what we have is proprietary technology that connects to all the exchanges and looks for the price differents and buys low in one and sells in another that's what we do. >> it can't be as simple as that i'm sure there are exchanges where you can't easily transfer foreign money. >> when people get into bitcoin they see 20 to 30% difference between exchanges. and there are mind is boggled. but it's not as easy as it sounds what we do is look for the price differences as fast as we can and gobble them up before anyone else gets there. and there are bars behind trading in these market. it's not as easy as putting a u.s. there are a in a coin base and then selling it in a

you have got to have a bank relationship in korea or some way to access the markets in the different countries. which not everyone has. >> do you do it with just bitcoin or other digital currencies. >> their hundreds of cryptocurrencies that means there are hundreds of different markets to do arbitrage. some are more attractive we currently do bitcoin, ethereum, and rip snooel do you go home every night flat or do you take some risk on overnight as well? >> that's a good question. primarily what we are is a market neutral fun meaning we are not exposed to the ups and downs or the roe coasters of the cryptocurrency market. that means no matter what happens, even if the market goss up or down, we are still unexposed or completely hedged against the risk of bitcoin crashing for example. >> do you see that arbitrage opportunity diminishing over time. >> yeah it is a good question. if we look at the traditional

four x markets or the stocks it took a ng time for the ash farage opportunities to diminish there was a different between offshore and on-shore yen on china. they took a long time to capture the opportunities. i expect the same thing to happen with cryptocurrency as as long as there is volatility. if you believe there will be volatility this the long run i give it a longer time line than it going away this the next few months for example. >> we have got ten second. what's best arbitrage opportunity right now in the market taking into consideration the ease of into into each market >> i you hate to say this because it's competing against us but if you look at the asian versus the western markets, try to get into those as quick as you can. >> south korea. >> south korea is harder china, japan japan is a good one. >> stephan, thank you for being with us. we hope you come back.

we talked about the arbitrage before it is a hard for the average person to do. >> it's labor intensive. so stephan obviously has a computer program that plug into the a pirks i. if you have those skills, grass, you can do it by hand. it is labor intensive to do it i agree, these arbitrage opportunities will be around for a while because there is still a lot of infrastructure that needs to be built and friction out there that's causing this. >> up next, are you buying pete's pitch for united health it's neck-and-neck right now you wanting to to twitter and vote still still time still still time @cnbc "fast money" is where th what's the value of a walk in the woods? the value of capital is to create, poll

we will reveal the results after this

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we were off for a while. i can't get this song out of my head ♪ don't break my heart. thank got america didn't buy pete's pitch i like toni braxton. this song is lovely. anyway, time for the final trade. pete. >> i'm going to stick with the chips. steve and i earlier were on the "closing bell. intel, i think this thing is going higher >> steve. >> i think you might have a shot to buy it cheaper. alibaba. i'm still long and i would look to add. >> brian kelly. >> you may want to hedge your portfolio. we know things are sensitive to interest rates buy tbt to do that >> you made this your ring tone, right? >> this is my ring code. dj khalid could lose 50 pounds

just by shaving that beard cisco. i think that stock is going higher >> i'm melissa lee don't go anywhere. "mad money" with jim cramer starts right now d my mission is simple, to make you money i'm here to level the playing field for all investors. there's 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 want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach so call me at 1-800-743-cnbc or tweet me @jimcramer. when the obvious strikes, you need t