Fund Manager, Ryan Dietrich, Microsoft discussed on CNBC's Fast Money

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Put forty two thousand five hundred traded average about fifteen and a half sense when i look at that a bunch of those were opening about twenty thousand of them it could be a long holder looking for some protection very nearterm just on the day that those puts would break breakeven down at fifteen 85 that's down about six percent of little more than the implied move all right from options action taken the full show that's friday five thirty pm eastern time coming up the cut their praised rages on in one fund manager on wall street is betting big on declined he'll join us next explain why he so bullish in the face of all this selling just today seventy stop seven zero stocks hit a record so when does it say to buy at alltime highs are tim cmo will break that down tell us the one aim at record highs he sees soaring to new heights but one fast money straight ahead dan welcome back to pass when he socks are on fire according to facts that around thirty five percent of stocks and the sp 500 had hit record highs so far this year dahamshe's in the newsroom to break it all down hey down well i mean malysz it pretty much sounds like a broken record right record high recordhigh record high it's because we've hit that many record highs just so far in 2018 and it today marked the th record intraday high out of just the first fifteen trading days of the year and if you need it anymore market superlatives house this for you according to l p l financial market strategist ryan dietrich today will mark the three hundred ninety six th day in a row that the s p has closed within five percent of a record high that broke yesterday's record streak which broke the record of three hundred ninety four days going all the way back to the mid 1990s now around seventy members of the s p hit record intraday levels today including some of the biggest market value companies out there we're talking alphabet the parent company of google microsoft as well and amazon too now if apple and facebook there right now with 100 percent away from their own record levels if they can hit those it would mean that the five biggest weightings in the s p could.

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