Live from the NASDAQ market site in the heart of New York City's Times Square, this is fast money.

Here's what's on tap tonight.

A market puzzle.

One big risk on trade and a big risk on one moving in the same direction over the past week.

What it says about the state of the market and how to position into year end and housing headaches,

homebuilder stocks trading a three-month lows.

Is there a hope for a rebound? We'll talk to the CEO of Mortgage Lender Better.com for a pulse check, plus Palantiers post-earnings volatility, heavy static for telecom stocks, and a biotech company well outperforming the Mag7 this year. We'll talk to the CEO of Insmet, fresh off earnings and new approvals for gene therapy drugs.

I'm Melissa Lecombe to you,

from Studio B at the Nazak on the Destiny. 7 this year. We'll talk to the CEO of Insmet, fresh off earnings and new approvals for gene therapy drugs.

I'm Melissa Lee. Come to you a lot from studio, be at the NASAC on the desk tonight, Tim Seymour, Steve Grasso, Dan Nathan, and Guy Adami.

We kick things off November specifically with that trade that made us go, hmm.

Things that make you go.

That's right. The market that makes you go, both the risk on crypto trade and defensive staples under pressure in recent days bitcoin closing in on the

one hundred five thousand dollar mark while the ex lp staples et cetera is trading at more than

52 week lows it's not just bitcoin hitting a wall ether and salana have both posted double-digit

losses over the last month in crypto-focused

names like Circle, E Toro, strategy, bullish, they're also struggling.

While Kimberly Clark was largely responsible for the Staples move lower today, over the past week,

we have seen big losses in names from Altria and Hershey to Hormel and Cisco.

Staples also the only S&P sector down year-to-date. So if both the risk-on trade and the safety trades are moving in the same direction, what does that tell us about the state of the market that we're in, Guy? It's a great question, Melissa Lee, and I will attempt to answer it. I don't think it's, I think it actually is telling the real story. I think the S&P 500 is telling one story, but you look and I'll add a couple other things.

At 1.7. I don't think it's, I think it actually is telling the real story. I think the S&P 500 is telling one story, but you look and I'll add a couple other things.

At one point today, the VIX traded almost 19 on what was a pretty benign day.

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