e say good night, look at the day on wall street. it closed lower by 80 points after the fed minutes. the nasdaq down. more fireworks after the close tonight. hewlett-packard schaars soaring in the after hours. better than expected earnings. 80 cent as share on $27.5 billion in revenue. don't miss dave faber's interview with meg whitman tomorrow. here's "fast money" right now. >> live innew york's times square i'm sitting in for michelle michelle. he's going to decode all the chatter and also between the lines. we check in on the charts for

his best technical ideas and bail on bonds? dennis explains why he thinks the bond market is tapped out and how you should be trading. we're tackling the postgame analysis and setting it up tomorrow with all of our traders here. we have tim who just made. . steve grasso who just jumped off a rickshaw. good day to you all. let's get straight to the volatile trading session today. the dow soared during bernanke's testimony and then it plunge. why did it drop off? you know what? our producers say this is the most important show of the year. don't feel any pressure. >> you mean co-producer josh brown. >> co-producer josh brown believes it's a very important day. >> why is it important? >> oh yeah i'm just going to -- first of all, this is a great day. this is exactly what i think we

needed. a little bit of injection, of fear, the heroics have started the jimgymnastics and that's what should make you nervous. the fact that it's cooling down is important. with were overboard on any metric that you wanted to come out with. fundamentals technicals, you name it. you don't want to read interviews and ard kls about hedge fund managers buying the 17.25 strike -- let me finish my thought and then you can jump in. >> hang in there, buddy. >> what you don't want to see is heroic feats. if this is what it takes. >> cools thins off or is it the beginning of the year? >> i don't know. for right now it's cooling things off. >> what did things do? if this is a lot of fear -- >> it started two hours ago, so i don't know. >> ultimately what happened today that has people jumping out of the window or calling it the most important day.

>> it reminds people. we're a little bit overdone here. what you don't want to do is be in may and have the months pull forward. >> you're saying this market is ready for major pullback. >> i never said that. >> you're acting as if they didn't -- >> what do you mean by cooling off? what's that? >> you had a new high followed by basically a 1% down day on the s&p. >> let's not overdo it. i was joking when i said that. to all the points josh is making, yes, it got a bit euphoric, the fever broke. we came in. we're what down 2.25. as a trader this is a pretty treacherous setup.

you want to see it open up and you want to see how they act tomorrow morning. >> you want to see them fail again tomorrow. you want to see them take a run at it. today, even though we were down half a percentage point i feel like we were down 3%. >> we haven't seen this kind of action. >> it's interesting to note. according to an investment group, the last two times the s&p hit a record high and closed down 1% from that high back in october 2007 and march 2000, and, of course we know that these are some months andeers that, you know have a lot of significance to us. >> i will tell you i was selling aggressively for a lot of clients and we couldn't move the market. a lot of times we were selling it and it would rally right back. >> that's because the vacuumolumes are out there. you had serious volumes. etfs people are going to be hedging up in a hurry or drawing

it up in a short. just to qualify and to clarify, you know the exchange with josh, i believe this was a major reversal. i believe this market was overbought going it into but it's only a massive day if in fact all the people yesterday said i want to buy any weakness in this market and i want to run for the hills. the only reason that happens is if something different happened on the hill where they came in and did something different which i don't believe they did. from a technical perspective, no one can say it. right now going into today, that was overbought. >> if you're bullish and you want to year to have a nice finish the last thing you want is that. i agree with you tim. i've gobbet to tell you, seasonally let them have it at this time. let's let everyone catch their breath. >> you're in the sell away go away car we were kind of warned about this yesterday by bill dudley of the new york fed.

he was saying there's a danger we could see an overreaction. do you see this or is this about right? >> i'm not very surprised by this. actually we've been talking about it. we've been watching the vix. what i think it was doing was indicating options traders will becoming increasingly skeptical that we're going to continue to see new highs each and every day. we see more evidence of that because the vix was up only marginally today even though the vix was down 80 basis points. normally in a situation like this you'd see the vix spike. i think a lot of it was built in. that probably is alluding to the same kind of buying that steve grasso was just referring to. >> absolutely. really good point. let's get a little more microhere since we've got the macropicture here.

tim, you kick it off for us. we don't fight the fed or trade the tape. we were covering mexico. they're off. a lot of that priced in. turkey, meanwhile, has been euphoric. turkey, we were actually fading this strength and i think thee are both trends. you sold gra sew, it's great time to buy it back. >> grasso? >> i wink thinking about buying and adding more to my google because i think that's a long-term investment for me. i want to see how it reacts tomorrow. does it hold? lit hold today's lows. >> josh? >> the most interesting feature of today's selloff is how badly tla beat up the bond proxies. the quote/unquote utilities. you also saw notable weakness in things like reits. so what i would do is stay away

from that. we like vhw. these are the cyclical names. we think they're much cheaper and if they're truly talking about taking that's because the economical the sick lick guy betting better. >> it's terrible because when things are good for the parng they're bad for the market. >> the goldilocks, yeah. >> it was orderly selloff even though it was 2.25 selloff. think it's going to take a little time to get there. i don't think we open down 1.5% tomorrow and we're down 5% a couple of days from here. i think we going to have to work through these highs an then we will get somewhat of a sustained selloff. so i like the idea of being long vicks call ss.

>> himming. his comments suggesting the fed has a plan but it remains undecided. this is exactly what bernanke had to say. >> we're trying to make an assessment of whether or not we have seen real or sustained progress in the labor day outluke. if we see continued improvement and we have confident that that is going to be sustained, then we could in the next few meetings. we could take a step down in our pace of purchases. >> well, let's welcome in "the wall street journal" john hilsenrath who joins us exclusively. good to have you on the show. good to see you. how contingent is the tapering plan still just on economic data that comes in or do you feel behind closed doors there's been some discussion of pretty much we need to get this done over the next few months.

we need to have a timetable of this? >> there's an ecoho in my ear. i think there's an idea that they want this to unfold as the economy unfolds and that you know they're going to turn things down as they see improvement in the economy. >> then why bother throwing it out. >> say that again. >> if it's still data dependent, why throw out a month as early as june. why talk about possibly in the next few meetings. why do that assal? >> well you know thing they're trying to condition the market to expect that some first move could happen at some point in the next few mealings. i mean bernanke said that. here's the trick they're trying to pull off which is very complicated. they don't want people to think when they do one move there's three or four moves coming after that. so, you know a lot of people in

the market are using tapering. you're not going to use bernanke tapering because it implies that move one means another move right after that. they're talking about taking a step and then assessing. it's a very complicated and difficult message for them to send and think that's one of the -- that's one of the reasons why the markets were all over the place today. >> hey, john it's josh brown. i think what a lot of people want to hear your take on there's this sense that despite the fact that there will be a quote/unquote debate in the june meeting, everyone kind of knows that the fed -- the fomc is. so if it's not coming from ben, dudley we can pretty much disregard it for the remainder of the spring and summer. do you agree with that or is it not that quite black and white? >> i wouldn't disregard it. i wouldn't say it's black and white. you know. they were very vague about how many people want to start -- want to slow this program down in june. they said a number. that's not very definitive.

i would go with the chairman and say in the next few minutes. we have toe officials in the room room. they want to be more confident that the data and the job market are really improving. so, you know that suggests that there there's a lot of people saying we want to see better jobs. take that to a logical conclusion. we only. that would be a helluva report that would take a lot of the people off the fence. >> which means june is off the table. john inflation's a another big deal. we're low be low the inflation target. there's a lot of peoples who voices have been going like this. the whole time you've about had ben saying it the whole time. we have a deflation aryary.

they're more concerned about that. that is something people are not paying enough attention to. >> it's certainly the case that there were people at the april meeting. we reported the in a story a few weeks ago at the last meeting who wanted to start slowing it down or end it right away. so, yes, there's a hawkish wing that, you know, to. for a long time. to start pulling back in june. as i was trying to say what those minutes show is it shows there are a lot of people in this committee who have more evidence. i think bill dudley was saying this the other day too that the next few months the next few meetings the next few meetings that's the framework we have to be thinking about. >> absolutely. it shows the views are very much differing on what evidence is needed as well.

thanks so much for joining us. let's get some after hours action. hewlett-packard is soaring after it was pete on its quarterly earnings. john lippman joins us. hey, josh. >> hey mandy. better than expected earnings. revenue comes in a bit light but current quarter guidants adjusted it. hewlett-packard, top stock this year, 49% as of today's close. as one analyst said no news bad news is this one. ceo meg whitman says the company has reduced debt by $1 billion, cut by $9 billion as they bring costs in line. also says europe appears to be a challenge. china, she says appears to be slowing down as well. we'll be back with more news as it happens, mandy, back to you. >> moving very much higher up by about 14%. what do you think of this one?

>> this has been the marquis turn aunt story. meg has her hands full. she also said it's going to take three to five years to turn it around. it's become less sexy especially after this big move. i've about been in involved in this. i don't want to say recently but i existed the trade but it was pretty much a double for me. i'm staying away at this point. >> tomorrow, by the way, guys a cnbc exclusive, ceo meg whitman herself is going to be joining c cnbc's david faber and more. that's going to be on at 9:05 a.m. eastern exactly. coming up we're going to read between the lines to find out where the stocks are headed neck. a top rated is on the way and bond buyers beware. the signs of the market might be topping. the commodities king is going to tell you how to protect yourself. we're back after this. ♪ here we are, me and you ♪ ♪ on

the road ♪ ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making memories and keeping promises. ask your financial professional how lincoln financial can help you take charge of your future. ♪ ♪ ♪ oh, oh, all the way ♪ ♪ oh, oh ♪

well the market's initially popping on ben bernanke's comments today but all members said seattle purchases could be tapering off as early as next

month. let's head straight to the charts. actually, jeff you brought along a couple of really interesting things. the first one we want to look at here is essentially the global stock market emerging market currency. what exactly is this telling us and why do we care? >> first of all it's telling us that the growth we're seeing is broad-based. you're seeing really for the first time in 13 years the e.m. currencies is not keeping pace. that's an important message. it oohless also a message about today's price action because the currency markets have understood that the fed market is probably going to be the first one to let their foot off the accelerator, so currencies have been telling us that for the last six months or so. this is giving us more indication that the cyclical trade is a domestic trade. >> so they may be leading stock markets. i know that tim seymour is gaging to get in here. what have you got, tim? >> i think it's great maybe a ten-year

bull run instead of the ten-year run. where is the liquidity? is it is it a smear row sum gain? to assume none of these markets are going to see i think fundamentally the growth is tapering to emerging here to use a term we're using a lot. >> i think you're seeing a migration, if you will from bond markets or fixed income markets into what we call bond surrogates. so you had the defensive trade running, health care trade running, those have backed off recently but these trends are very very powerful. and the data that we're looking at suggests that people are starting to expand their horizon just as the fed has asked them to do come out of risk-free assets into riskier assets first bonds, now we're seeing them get into bond surrogates. >> how do we play this? >> it sounds bullish. as much as i'd like to see

emerging markets go sky high. ultimately what jeff is saying, first of all, stay stay away from places that are either commodity boom/bust cycles. the cyclic callty, i would be looking to buy banks if i'm looking to buy anything here. >> talking of commodity bam/bust, see what's happening with the australian dollar. no one's interested. take a look at what's happening with chase. jpmorgan chase -- >> you're panning u.s. dollars. >> it could tank away as far as i'm concerned. jpmorgan, what are we seeing on the chart? >> this is a 14-year chart. you're just breaking out of this long long huge base formation. a lot of discussions about whether chairman, ceo, that's all noise. this is a huge base going higher. instead of worrying about cyclic cyclicality cyclicality, financials, given the curve, given what we're seeing financials is a back

doorway to play cyclicality and get the leverage. european banks to us look very good. if you're looking for that full drum security where the rubber meets the road, european banks look fantastic. >> what do you think about jpmorgan from the fundamental side? >> looks breaking but the options traders must not be looking at that today because it traded more than two times its average daily volume and looks like bearish bets prevailing. traded in calls which is unusual in a name like this. definitely seeing bearish sentiment despite the fact stocks had a very good run and fundamentally it looks okay. >> mike, thank you very much. jeff thank you to you as well. "pops and drops," the big movers of the day in differs directions. take a look at a drop. a brazil jan company has dropped by 1%. >> down today slightly but the story is a pop over the last couple of days for these guys who have a huge back order book that's been growing, the sky

west deal gulf stream credits, these guys are the guys to play. >> another drop joy global. >> i wouldn't be a playing in joy global if you want to be in the space, mfw. >> and a pop for sachs, popping by 13%. >> kkr is apparently taking a stake and they have been suggested to possibly put a proposal for a merger together with neiman marcus goldman sachs has been hired for a central jurisdiction adviser, sit te bank saying they think there's high probability of a deal. with a $19 price target. this is only for the seasonal players, i think. >> pop on staples by 3% today. >> it was a mixed report but the market decided to look past it. i think they also give good guidance on a go forward basis. if you think more people go back to work and the economy improves staples as quasi cyclical play on that. >> we've got a battleground stock, herbal life dropping by about 7%. what's going on?

>> the stock was up 50% since the beginning of april. up 18% at one point this week. i think it was giving some of that back here. one of those stocks with high concentration alongside. it's that big battle between icon and acmen. i think it's a bit of a retracement of recent strength. also this was a beneficiary of hedge funds chasing for performance. we know where the shorts are and they squeezed this one. >> plaxico, the scandal husband steelers wide receiver is making a pass at the world of high fashion hosery. yeah, okay. >> whoa. >> recently spent about two years in prison for accidentally shooting himself in the leg, now rocking the world's socks off with a line of luxury stockings. the plaxico burress sock collection will be available at retailers starting next month. >> that's almost as ridiculous as shooting yourself in the leg because you've tucked your gun into your sweat pants. >> that's the whole thing, the stockings will be bullet proof.

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should you be defriending facebook? buzz kill of the day, down more than 2% over the course of the day. what are you seeing here with facebook? >> this caught my eye, down 5.5% on the year massively underperforming its peers. just everything. so to me it's at a critical technical level, bounced off its

200-day moving average today. that chart right there says it all. you go through, take out that uptrend line i think there's sellers sticking with this trying to get this thing back towards the ipo price. doesn't lack like it's going to happen any time soon. >> we handled straight signs, my other show, shameless plug, 2:00 p.m. weekdays. we had a bull on facebook come on the show. their target price was only $38. they're bullish but saying it's only going to get back to the ipo price. is there anyone who thinks it's going to get beyond the ipo price? >> who cares? >> the problem with facebook right now, i think the narrative is shifting. today there was an article from the associated press which means it hit every newspaper probably in the western hemisphere at least talking about how kids are getting sick and tired of the stress from their reputation management duties for being on facebook. they're migrating to instagram which facebook owns but also migrating to twitter. that's the kind of thing that you can't put a dollar figure

what that's worth to facebook today. it's definitely a shift in the mindset. i think it should be troubling to people that are looking at those hockey stick charts of facebook user growth. it's not quite going to turn out that way. >> a hit on the technical levels, if it closes below 25, that's the line in the sand. >> 38 really doesn't matter. it's where the stock is trading now. 38 is major resistance. there will be a lot of people that would love to see it there and they'll say, i'm out of jail. right now it's all about what it's going to do tomorrow. >> it needs a lot of friends right now. concerns the fed could begin tapering its bond-buying program. sending treasury yield above 2% for the first time since mid-march. we're getting your treasury trade from dennis gartman. he joins us on the fast line. what's your two cents or five cents on this one? >> my five cents worth is that for the past three weeks or so i've been bearish on the bond market. first time in a long time i've been aggressively bearish.

a lot of my friends kept trying to call the top end in bonds. it was a very very difficult thing to do. in retrospect we can look back and see that bond futures made their high almost 14 months ago in autumn 2011 failed to meet a new high since, failed badly a couple of weeks ago. i think we're seeing a very important turn in the long end of the curve. this looks like the absolute obverse of what happened in 1982 to 1984 when bonds fail to make new loans and the beginning of a bull market began that lasted 30 some years. i think we're now seeing the end of that bull market the beginning of a bear market that could last for some long period of time. i'm short the long bond. i'm long the 10-year note. short the knob spread as we call it. i think i'm going to be that way fare a long period of time. today, the fact that it broke on what should have been decent news from bernanke, i thought was the kiss of december. >> dennis curious what your thoughts are. that widening in the spread.

if you're right how does that affect other areas of investing? is that good for banks? the kind of thing we want to see a little bit more of an in between there? how would you characterize the ancillary effects of that trade if what you say plays out? >> the ancillary effect, a widening of the yield curve is good for the banking industry. as i like to say, a positively sloped yield curve makes geniuses out of otherwise bank idiots. nothing better than being able to borrow short and lend long. in the long run a very good thing for the banks. i don't think one buys banking shares after a sustained bull market in equities because the long end of the curve is starting to show higher yields and the middle of the curve is starting to show some strength strength relative to the long end. if you're a bank if you're a bank manager, you welcome a positively sloped or more positively sloped curve. i think that's what you're going to get. >> hoe much of that trade is drive ordinary predicated by what the treasury does in terms of supply?

bond versus ten-year? the bond they've not been refunding as much. this is a call could that be something that hurts you if there's scarcity value in the long end? >> it's one of the problems i've been worried about about the trade. it's been working. i've worried about the fact that there aren't long bonds coming out, there are more ten years. that's what we are doing, that's what we've been doing. the treasury actually should go ahead and fund as much as it can at the long end of the curve because i think rates are going to go higher. these are historically phenomenally low rates. for right now, the news has been something that would be dell tier yuls to my trade, yet the trade keeps working. i've been around this a long time. when the news is something that should be bullish and the market responds bearishly, sell it. >> thank you very much for joining us. do any of us know what that means? >> deleterious? destructive. he's a wordsmith, dennis. very good. i think ultimately i have trouble seeing rates break out of 2.5 on the long end. i don't see how we can get through this range.

i think the bond market has given you head fakes where we've been trading from 205 resistance to 180, 185. so i agree generally the trend is absolutely higher but i would be cautious about playing a big breakout on yields. >> coming up, how to make the most out of the markets if retirement is ten years away for you. but first, the big three automakers are shifting gears and cutting back on some factory shut-downs. why this move could be bullish for stocks. works. let's say you pay your guy around 2% to manage your money. that's not much you think. except it's 2% every year. does that make a difference? search "cost of financial advisors" ouch. over time it really adds up. then go to e-trade and find out how much our advice costs. spoiler alert: it's low. really? yes, really. e-trade offers investment advice and guidance from dedicated, professional financial consultants. it's guidance on your terms not ours. that's how our system works. e-trade. less for us. more for you.

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welcome back to "fast money" live at the nasdaq market site. the auto trade is revving up. ford gm and fiat announcing they'll be cut back on summer shut-downs at factories as they set production goals higher. he was really hot on them when he played out date dump or marry game. i think that goes by another name as well that game. let's take a listen. >> i'm looking for a car company that's sensitive, has a bit of a sense of humor, somebody that maybe could make -- >> long drives. >> somebody that i could get into the seat and feel good. gm is a marry. right now it's a date. this is significant overhang from the u.s. treasury.

i love what the big three are doing -- >> how's the seat feel? >> feels better in a gm than next to you, i'll say that. >> you're sticking with this? >> channel checks say if you look there was a slight sell-off in the annual numbers and they're back up to 15.2 15.3. so on the production level they're going higher. the best thing i'm hearing is jd powers talking about incentives come down. these guys are not giving the house away they're holding their line holding brace points with models that finally these guys have very cool very efficient, very global models selling all around the world. we'll hit record units on global auto sales in the auto sector. at this point people are even looking for a small recovery out of europe. everybody knows gm is bell waiting for europe to turn before this black hole begins to add to the bottom line. so again, free cash flow. the whole industry has consolidated. this is a place where i think you do stay for the long-term. >> friday, you mentioned ford. >> yeah i mean this is as clear as you get on a breakout.

everyone understands the fundamentals. on a technical basis, if you just look at this thing taking out $14, it's a cup and handle pattern. i don't want to get too cutie. the big picture is what happens through a16. if it takes out that level there's nobody left to sell this name. at a nine forward p/e this is worthwhile. >> last night you took me down the home depot thing may jiggy. the takeaway is this is a much cheaper way to play a housing recovery in the u.s. trades at nine, ten times earnings expected to grow mid to high teens the next couple of years, verses a home depot trading at 23 times earnings. i like playing a ford much better. >> home depot up as much as 2%. >> instant confirmation my friend. to junior's point -- >> does home depot make automobiles? >> to josh's point, ford you need to see close above 15. wait until it closes abefore 15.

>> need confirmation there. record low interest rates making it tough to plan for retirement. all you save is out there. especially if you are just ten years away from leaving the workforce. how should you be positioning your portfolio? let's get to ivory johnson, founder of delancecy wealth management. imagine someone about ten years away from retirement. what advice would you give me? >> well to put it in context, the problem they have is that they can't sustain a big drop because, you know when you retire is almost as important as how much you have when you retire. people who retired in 2007 they might be going back to work. people who retired in 2009 not so much. so that lends itself to a balanced portfolio. you want 45% or so in equities to outpace inflation and have growth. you need fixed income to anchor. alternative asset classes are necessary because of the volatility, you want asset classes that move in different directions given the same arcing

conditions to provide diversification. >> i'm a welt manager as well. we haven't had any volatility to talk about for 18 months. not that i'm complaining. but if we do get a reintroduction of that this summer, which wouldn't shock me given what we typically get on an annual basis, do you find yourself prepping to have those conversations where you explain volatility is not the same think that as risk specifically in the context of a portfolio that's five years or more ahead of you? how exactly do you frame that in a market that really hasn't had volatility for this long? >> well, you know, what's interesting is nine of the last 20 quarters have been negative. they understand volatility. i think what causes some of that voltity or event risk looking at a federal reserve that's created $3 trillion over the last five years, pumped $85 billion into the banks, another phenomenon right now is that you have stock buy-backs. 88% increase. you have fewer shares with $268

billion in demand pushing stocks up. when companies have earnings the problem is that you have fewer shares to distribute those earnings. sort of a pinwheel right now. clients understand that a lot of the risk we have a lot of what's causing the volatility are just events are you can't plan for an event. you don't know what the central banks are going to do or what political events are going to impact the markets. >> ivory, great to have your advice on the show thank you very much. coming up next the luxury home builder that is topping the tape. what it is suggesting about the health of the housing market. and down but certainly not out. shares of target falling after an earnings miss. why today's sell-off may be a solid buying opportunity. ♪ ♪ ♪ ♪ [ female announcer ] you're the boss of your life. in

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in the last two days the stock had a massive rally off yesterday's lows up 12.5% or so. 30% the last month. so to me its inability to break out, although it made a 52-week low this morning, keep an eye on. like you said, up 50%, still lagging the market. you want to see this thing break out and hold it. >> i'll throw you a life preserver. would you rather play home depot than toll for a housing recovery? >> on an evaluation basis? toll is more expensive than it was -- >> hold on, stop. stop. quick distinction. home depot is the remodeling trade, toll is home building. >> yes. >> you had disappointing home starts last time they reported and maybe estimates have gotten ahead of themselves. on home depot, this is a multi-year trend that maybe we're halfway through. >> the beauty when is you get good housing numbers, home dough poe trades up too. so it trades up with it when

it's good and then on the remodeling trade, when housing dissipate dissipates, you get to see -- >> home depot said yesterday for the first time since 2008 sales to contractors began to outpace sales to homeowners. that's a whole other leg to this trade that hasn't been felt yet. >> in the options action portion of this wonderful show target shares are hitting highs this week. despite falling short, earnings today options traders think the retailer will finish out the year in high fashion. what was the action today, mike? >> they missed earnings by a nickel and the stock got hit as a result. and we did see about five times the average daily volume in the options market and puts were changing hand. we saw initiating put sales. that suggests that people would actually be willing to get long the stock at the strike of the put they're selling is and the ones they're selling were the may weekly 67 1/2 puts and the

june. >> what's your call on target, tim? >> play walmart. ultimately, this earlier had difficult numbers in terms of earnings numbers out of south africa, one of their big offshore subsidiaries and ownerships. target weakness is not walmart's weakness. walmart pulled back about 5%. this is a great opportunity for a stock that doesn't move much trading 14 times next year paying 2.5% dividend yield. if things are as bad as people traded it like today, walmart is a stock that people should be in. >> okay. coming up on "mad money," roller coaster day for the markets. but theme park operator six flags is having a screamer of a year. up over 28%. and then disaster cleanup company clean harbors is in oklahoma. cramer has got both those ceos the top of the hour must viewing. coming up next the spotlight on viewer tweets. we'll trade your questions live when "fast money" returns.

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dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. update on after hours action

now. c nbc's josh lipton was telling us about hewlett-packard, up 14% after hours. >> listen to meg whitman on the conference call right now with analysts and fielding some questions, one talking about revenue growth. meg whitman saying revenue growth will be possible but progress she's saying won't be linear macro economic environment, will not be a tail wind. she says a good shot at growth in 2014. analysts asking about this line of sight they have to this neutral net debt positions. what about buy-backs? meg whitman saying we can do cap allocation across different options. the past 18 months focused on relaying the balance sheet, now they have the opportunity to invest, return cash do small tuck-in acquisitions. free cash flow an important point on this conference call the company saying they expect $7.5 billion in free cash flow in 2013 focused on cash flow as a company. whitman referencing dell's

earnings. she pointed out cratered saying it is not what you do when you are investing for the future we are focused on deals that are sticky and we need to do the right product for the right segments, back to you. >> thanks very much for the background. how do we trade it going into tomorrow? >> the expectations were low believe it or not given the fact that the stock has had a great year. when you look at a lot of the i.t. vendors it competes with currency headwinds, i.t. spending environment, they weren't very high. 9% move. last night on options action on this show mike coe mentioning somebody buying short dated 25 calls playing for this sort of move. expectations would low. it seems speculative up here. you have to be careful because this is really a cost-cutting story. >> she's given a ringer to dell when in fact i love the free cash flow. up 45%. but that's a company that's focused on balance sheet repair not necessarily focused on the future. even though they have said they think the refresh cycle in pcs and laptops is something they

should be a big part of. >> i'll take that revenue growth. >> the market cares about the balance she'd here. if you see that it's good news that's why the stock's rallying here. >> no, i would tend to agree with dan. i think the secular head winds remain strong. i don't get enthusiastic about stories where the story is facing these kinds of impairments. we shouldn't be that surprised, they have a lot of bodies they could lay off, laying off 29,000 people that will bring costs down but ultimately that's not a gad story about what they'll be doing five years from now. >> you tweet it, we trade it. let's get your tweets now. grasso, you sold your stake and took a small profit in qualcomm today, this is a tweet, excuse me. >> i'll still long with qualcomm. >> this is grasso sold my stake, took a small traffic in qualcomm, would anyone get back in on a pull-back? >> i owned it lower from here i own it lower.

i think there's enough smartphones and tablets going on. i think there's growth still there. that's why i'm still long. it hasn't run out of momentum. it's catchy, i can't speak. hasn't run out of momentum i'm still long. >> josh action what is your number one long position and why and does today change your thesis on it? >> interestingly enough one of our biggest holdings in an individual name is pfizer. pfizer closed up 2%. and if you look at the chart they sold off with the rest of the market and somebody snuck back in on the close. here's what's going on. pfizer told you this morning that they're going to offer you a discount to get into a swab of their zoweta health business a swin-off. our position does not change regardless of the market we think pfizer's a steal under $30 a share. >> lucky guy. another one, this one says is hold me i'm scared technically a

question, josh? >> great question. that's a great question. let me give you a very quick and simple answer. you can go back 50 years, pick any day you want on the calendar. you had a 75% chance that a year later the market would have been higher. i don't think that you need to look at a day like today and think you have to make major life changes. i think this is a great day to take stock how much exposure you have. if it's more than you were comfortable with down on the s&p, your overexposed, it's that simple. >> thank you for your tweets. next your first move tomorrow. more "fast money" ahead. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's

lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ ♪ [ male announcer ] with wells fargo advisors envision planning process it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to

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hewlett-packard shares as we can see are soaring by nearly 14% after hours. and guess what tomorrow we've got a cnbc exclusive with hewlett-packard ceo meg whitman to discuss earnings and many other things tomorrow at 9:05 a.m. eastern. it in 9:00 9:05 a.m. eastern. on that note it is time for the "final trade." around the horn mike? >> kimberly clark today's

overpriced staple stock. >> goog bell on a pull-back tomorrow. >> vaw, add to your cyclical exposure. >> johnson & johnson, back in the puts. make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere. 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, my job is not to entertain you. i'm trying to teach. call me at 1-800-743-cnbc. which came first? ben bernanke or the bull market? that's what was on my mind when the m