Steve, Amazon, Five discussed on CNBC's Fast Money
Two twenty three percent of the snp. Wait for the five or six names. We talk about all the time. You should be concerned if they're selling off the market can rally without him. But i'm not worried about rates right here. I'll be worried rates over two percent. And i'd be worried about the speed but right now i actually want rates to normalize i. I think that's interesting when i when i married dan. Tim's commentary a guy. It's it's a good point. That rates around the world being negative predominantly. They are basically a weight on the us and so how. How fast and. How quickly can our trajectory be. And if that's the case then maybe technology is not that maybe these are buying opportunities ultimately this absolutely that could be the case. I mean i'm not suggesting. I'm right. I'm just pointing out. What's been going on. What i think's going to continue to happen. And i think to your point about negativity yielding rates around the world. That has been a weight so the question. Then you have to ask yourself. Where would you rate rates be but for that and then how far behind the eight ball with the fed. Really be if these things sorted came to light. I mean getting bailed out in a lot of ways by the fact that you have all these negative yielding bonds throughout the world. I mean it's been all along. They being the federal reserve thinks they can control something that they have zero control over. And i think the market is starting to wake up to that now if we get up to one and a half percent and the tenure and fail and rates go back down. They're going to breathe a collective sigh of relief as well the market and they'll give themselves some runway again. I just don't think what's what happens if and when we get there i my sense is. We're going accelerate. Once we do. Yeah it should be interesting to hear fed chair jerome powell tomorrow on the hill on meantime let's take a closer look at the stocks being hit by rising rates since yield started their near nonstop. Climb in late january tesla's down nearly twenty percent apple and clorox or down twelve percent amazon's down about four percent. So let's take a look at each of these guy. You pointed out amazon and the move or or lack of a real move Since basically its earnings yeah february second. They released earnings. I think the stock closed at thirty three eighty that day. I remember on the show. I said that. I think there's a real good chance at the stock is going to push up against that september high of thirty five hundred ish or so and then we'll see again. What happens when we get there. I remember steve Three eighty six was on and said he wasn't as encouraged by that and he thought you'd see a failure. Steve had spot on now. Here we are With a significant move to the downside so the question is where does it trae dancer. What's your neck century. Twenty nine fifty level remember from that september second hywel two weeks later was trading. Twenty nine fifty. I don't know if we get there. But that's a fantastic entry point and remember that. I think a day after earnings for amazon on february third or fourth. Morgan stanley came out and put a forty two hundred price. Target on it. That's probably gonna be right. The question is does it get twenty nine fifty four i. It's absolutely worth watching the next week or so all right. Let's get to tesla here dan. Odd tesla's down markedly down about fifteen percent here. It's actually down twenty one percent from closing high last month. Mel and what i think is really interesting today. Down eight and a half percent. It was a bad break. It's fifty day moving average the last time the stock had closed below fifty day. Moving average was on november sixteenth. That was the day the s&p five hundred announced that they were going to be adding tesla to their five hundred index. The stock at that point november sixteenth was also down twenty percent from september. Second all time high. What happened from november sixteenth. To a tie last month the stock actually doubled. Okay gave four hundred billion dollars market cap so i do think it's interesting that this is a really bad break here. You could say it's about interest rates. You could talk about competition. You could talk about elon. Musk and his little does coin in bitcoin fascination and a lot of goofiness going on in and around all that sort of stuff. I just think we're at a point where people are starting to look at. Just listen if rates are going to be higher growth. You're sort of names that we're willing to give these really ridiculous premiums to whether we should lighten up a little bit so it just seems like there was a lot of narratives coming together in this one and it makes sense to me that this one cools down a little bit and i give rich down toward six hundred bucks in the near term. I'm glad you brought up the the bitcoin. There's a lot of chatter on the internet about winnie lon mosque and tesla took its Took a bitcoin steak or position. And i say position not investment karen because they don't benefit from this because basically on paper bitcoin their position has gone up a billion dollars since they first announced this. But they don't benefit on the upside. Is that right. Well i guess. From an accounting stanbury the appeared not to be able to benefit that they can only market at their cost and if it goes up they don't get to market higher but the kind of correlation that the market is assigning. Now is there regardless of whatever the accounting treatment is so. I think it's definitely some correlation there and they're kind of similar you know sort of frothiness their correlated that way as well. I guess it's all interconnected. But i mean i'm surprised bitcoin was. I don't know several hours ago. Down seven thousand at one point. I'm kinda surprised at sunk in there as well as it has. What an extraordinary run this. This pullback is pretty. Tiny tesla pullback is far greater than bitcoin. Fullback anti tesla apple. Carole go to you on this one. Yeah the right. I think if it is value play it on part but the the p multiple clearly is much higher and as that evolution of the business that we've been talking about for years going from hardware too much much more services a much more recurring revenue stream that multiple should be higher. It is higher. I don't know in the short term. What is going to move the stock besides sentiment in the market and this kind of risk premium that we talk about. We're not gonna see earnings until april thirtieth. But i am really a believer in five g and the evolution of this company. So i'm taking my hits in the stock. I wouldn't sell it today if it goes. You know. i don't know five or ten bucks lower. Maybe i would look to buy it but right here kind of doing nothing..