Fast money starts right now. Live from the Nasak market side overlooking New York

City's Times Square. I'm Melissa Lear. Traders on the desk are Pete Nigerian.

Mark Tepper, Karen Feinerman and Dan Nathan tonight. Tesla's June rally is heating up and we are just moments away from the company's shareholder

meeting.

We'll tell you what Elon Musk says is driving the stock.

Plus stocks are within striking distance of their all-time highs, but one top technician says,

do not trust this rally yet.

He'll be here to explain why, but we start off with stocks sitting out this rally.

Nearly 50% of the S&P 500 isn't a correction or worse, down 10% or more from their highs.

Check out some of the biggest names on the list.

Intel, UPS, United Health, Exxon, Sales Force, all falling from their 52-week high.

So do you buy any of these names for a catch-up trade?

Or are they a no touch?

Pete, where do you start with this list?

I think that when I look at that list, I see a couple of names that I already own

and I would probably start adding

to very soon just because I think that they've been pushed down enough from those 52-week

ties and I think there's room to the upside. I'd start with Intel, I'd finish with Exxon and I'd add in UPS.

All three of them, when you look at quality companies that are

doing things the right way and the execution is there, the fundamentals are there.

For me, they've also got growth. When you put that all together Mel, when they pull back the way they have, I think that's an opportunity.

Those are names I'd be adding.

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