that new normal may be. before we look at wall street it was another ugly one. this market was following rates and following what happens in japan. the market was down in the triple digits off the worst levels we had been down 152 at the worst. that will do it for closing bell. thanks for joining me. stay with cnbc. fast money begins right now and have a good night. >> live from the nasdaq market site in new york city i'm melissa lee. let's get straight to the big story. global turmoil, the japan ease stock plummeting. bombshell report the bank say

face a 7 billion dollars loss. that leads us to our question of the evening will global turmoil hit our shores and how should you trade it? >> good evening, mel. you have to respect the s&p levels. my feeling all along has been that the unrest we're seeing specifically in japan is going to find its way to the equity market. it had an amazing reversal today, wound up closing significantly higher on the day. what is happening in japan is happening, i believe they have lost control of the bond market. steven reach talked about it a couple weeks ago. i think you'll see the flight for safety in the form of people getting back into treasuries in the united states. >> losing control of the bond market sounds like a scary prospect. >> i think in japan mr. ab a have proven that they are listening to the market.

what is happening is you're seeing an unwind of the trade. when you see the merging market currencies and a lot of higher yielding countries their spreads are blowing out. japan can't do this. i don't agree that that's the case. this is a structural not a trade but a structural shift for these guys. they have made this clear but the pain and the volatility coming out of japan has hit our shores. there's no question it's hitting but i don't think the world is going to on end. when you see the australia dollar, the yen, this is painful and for a lot of people they're the wrong way. >> i'm sitting at home and i'm hearing that this global turmoil is coming to our shores, the world may not be coming to an end and yet here i am sitting in equities and feeling the pain. what do i do here? >> you have to own what you are comfortable taking the risk. the markets come in and bounce back. watch that level.

blow that 1580 is really where you draw the line in the sand. if we break through that then it's really lighten up on your other positions, too. i was lucky enough as i said last show to go to 60, 65% cash. i'm staying there. >> what we saw today was the equivalent of what? to beaker's point before in terms of rule of thumb it's like a 15% move. it's an enormous move, volatility on the end. high, right? >> all over the place. we've been talking about this in april, commodities and equity markets here. the u.s. is about three and a half percent off the all time highs. to me you got to respect the technicals. the 1609 and the 50 day moving average we bounced off of that four times since december 31. last month we spent the whole month say how is it going to be

this way. here you go, it's established a new range. we have a new volatility regime. i'll make one last point. the s&p 500 is going to be the last battle fought because it is the safety trade right now. >> if you look in the fall of 2007 going to all time highs, this is something that at least you have to pay attention to even though it hasn't unwound here. to be clear, until the fed really starts doing something and i realize we've said you don't wait for that moment but that is not happening in the next three months. i think you have to put that in context. >> i sit here and take a look at this big move that we saw in the city on the back of this pour tall lis research. >> who are they? >> the stock is down 3.8%, reacted to this notion that there could be major losses because of a currency swing that we don't know about yet. >> i'm not saying this is what's

going on but is there a chance that's a derivative book that has exposure to market moves that could potentially for 20 years setting up on the short side because it's been around the right way and is everything coming home to roost. >> again, if i look at the moves and the deleveraging, when i see emerging markets and selling off this quick european banks are deleveraging. that's what i would be concerned with. >> your thoughts, global turmoil, coming to roost here? >> of course it's going to come here. just because things are tush lent doesn't mean they're going to crash. people should look at this as a bit of an opportunity and when they ensure their porfolios they have to recognize that they look to change that a little bit. instead of buying puts they might buy put spreads.

but the disaster protection has actually gone up more than the at the money protection. that's one place to play. stocks might be coming your way at this point. look at some stocks like deer which i think is a decent name. it's down. >> how about city? >> look, the financials very simply still have more room to the upside in my view. if they come into you you should be looking to buy them i think. >> mike is nervous. he has short sleeves. >> are you warm enough out there in l.a., mike? >> we have the air conditioning kicking on here. >> city group down 4% i don't think you want to jump in. think about 2011 bank america crises, last year was jp morgan. tim just mentioned the european bank. the bank index is breaking down, closed for the first time in a year below average and looks unhealthy. this could come back to our u.s.

banks again. >> as we've been saying the volatility in the yen upsetting the equities. will this break our markets in the u.s. jeff, good to see you. we've been talking about this currency move that we have not even historically these are giant moves. at what point do you get concerned that this will, in fact, impact our equities market to the points where people might want to stay away? >> i think that japan has thrown the hail mary pass. they've pulled out all the stops. when you do that and flood the system with liquidity you get volatility. the advice your gang is good advice. i'm paying attention to the s&p 500 but you should pay attention to the reaction low of last week at 1598. if we fell blelow that support zone i would take defensive act as well. it is probably going to affect the u.s. markets here depending

on how volatility things get over in japan. i don't think it derails the recovery that we're seeing here or derails the energy independence theme. i don't think it derails this american industrial renaissance that we're seeing. >> how about financials when you hear that a city from a research firm, it's out there but it did hit the stock. when you hear that city may suffer up to blls in losses and you see the morgan stanleys of the world that has been hit hard because of international exposure do you say maybe financials are not the best place to be? >> i think good sound advice would have been to take some of the money off the table as we approach 1700. as you know that's been my target for the past two or three months. i have been telling people we could get a point of vul ner ability with the german constitutional court and the hearings coming up. out past the second quarter i

have got timing points and news out of washington that is going to make the market subject to the first meaningful pull back of the year which i think is going to be for buying. >> let me get this straight. you're saying you would have taken profits before as we approach 1700 but not necessarily because of the big currency swings or the unknown losses that financials may take but just because of what you see out in the second half? >> yeah. long-standing target has been 1700. we got to 1687. you take some of the money off the table. >> jeff, thanks for your time. let's head to market flash with josh lipton. josh, what are you watching? . we are watching the news reporting an estimated drop in yum brands innen china where they generated half of sales. in april sales were down 29%. worries about the bird flu outbreak, that down 1.3% in the after hours. back to you. >> perhaps we shouldn't have been surprised by these results

because of what we heard from mcdonald's and how china was still week because of the chicken backlash. >> a positive statement by goldman that said they think china's friends are going to return to where their. this is a roller coaster ride for people. falling 19% means these trends are not reversing. yum is as well positioned as anybody in china but you don't need to chase this news to buy the weakness. >> mcdonald's gave back some of the gains it had yesterday. so to me i think it's a crowded space. we talked about it on the show last night. yum is extensive and people are paying a premium for that growths in china which two quarts in a row looks down 19%. that's extensive to me. >> dominos pizza, that fits -- >> i'm so tired of you talking about it. >> look at the chart.

>> to me that's the best international brand to buy right now. >> biggest in india by the way. let's get after hours action. also first quarter earnings come comps beat estimates. from the second quarter in line with expectations. dean foods falling on a down ground. stock down 1.5%. prudential financial lower after authorized share repurchases of up to $1.5 billion in upstarts in july. biggest stories set to move the needle ahead of the open. still ahead the battle of the budge. a long arated for a against obesity with its new drug hitting shelves today. will it be enough to shave off competitors hot off the heels of arena. what about marketing an anti obesity drug. we're going straight to the source next.

seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ [ engine revs ] ♪ [ male announcer ] just when you thought you had experienced performance, a new ride comes along and changes everything. ♪ the 2013 lexus gs, with a dynamically tuned suspension and adjustable drive modes. because the ultimate expression of power is control. this is the pursuit of perfection.

>> time for fast money's top three trades for today.

first up down ward facing stock. lululemon falling with christine day saying she's leaving. >> the stock shook off its transparent pants issue and i think it will do the same with this. >> aren't see through pants and the new ceo a completely different thing? >> completely different but related. she was there when there were see through pants. how can they not be related? >> i'm going to let that go. pea body energy hitting a 52 week low. tim? >> there's a level around 16 bucks which is a double bomb. >> carrying out the theme. >> i think the spinal tap, big bottom. this is suffering under the weight of met coal market. i don't think a lot is going to improve. ultimately this is a company with a lot of flexibility and to

stay solvent. i don't know that you jump in. i don't know that you need to run and hit the door. >> game stop yesterday here on fast money guy made a prediction about the stock after a rough day. listen. >> evaluation isn't ridiculous but the short interest is. with this stock down 4, 5%, game stop might be a good one. this is sort of interesting. >> guy nailed it. game stop up almost 5%. >> this trade went almost to 11. baird had positive comments. that's what is happening in these stocks. that's why it's difficult to be stocks interest with more than 20%. the trade could go up from here but you wait for your next opportunity.

>> several years of rock bottom interest rates have had investors in a desperate search for yield. 90% of their profits were dividen dividends. will rising rates kill the retrade. jonathan, graet to have you back. >> thanks for having me. >> we've seen it play out in terms of the stocks, they have within getting hammered of late. what is the reality? do raising rates hurt reads? >> historically these events end up being a great buying opportunity. six times when the rates have been down ten, 15% on a backup in rates. 30 or 90 days later you're making ten percent. bonds are bonds, you get a fixed percent. the back drop for real estate is favorable. little supply, wide open capital

markets. when the reets were coming under pressure we've looked at the returns. it's on our website, atlanta buildings.com. we were excited about the buying opportunity today. >> by definition if you believe it's a buying opportunities does that mean u.s. rates are headed back down? >> rising rates are typically associated with improving economy. the time when you don't want to own them is when the fed is cutting to salvage a week in the economy. you want to own reets p and generate rates better than the s&p 500. >> one of the criticisms people have is that it's supported by institutional guys. whether it's stuck in for closure ultimately the buyers driving up prices and keeping some people out of the market are institutional players. is that something you agree with

and do you think it's fair? >> it's reets and institutions. today you can get a much better yield on real estate than you can by investing in bonds. while the ten years went to 1.6 percent, the yield on real estate never narrowed. the problem in 2006 was that real estate was generating on top of treasuries. this is why this back up will be absorbed and probably won't even stop the occupation of acquisitions of real estate. >> i want to ask you about the increased scrutiny from the irs. we saw stocks taken to the wood shed on the back of this. iron mountain anticipating a convergence. that seems to be the line in the

sand so to speak. when you use that and look at these three stocks, which are in jeopardy? >> if we back up last time it was the opposite. everybody wanted it. you guys were saying what do you think. buying a stock because it's a conversion i don't think is a reason to own it. what's going on right now at the ifrs is healthy. they were being inundated with requests to convert to reets. the irs is saying this has to be a legitimate real estate business that's good for the reet business and existing reets. i don't know how it's going to play out. we have consulted with attorneys. a lot of these we're not interested in because we don't like the underlying properties. some we are. the jury is out. >> which ones are you involved in then? >> all of the conversions we've looked at. we would not be touching the converses today, the data centers, iron mountains, we want to wait and see what it's going

to do. >> let it shake out but it's good for the industry overall? >> right. it's good for the existing reets. >> jonathan, thank you. great to have you. >> are you a believer that rising rates won't hurt the reet trade when we have seen it hurt already? >> i don't think it's going beyond 50 base points in a year and a half. we are probably five percent away from a move where that's a fantastic floor on these things. it looks like the chart can take you lower but i don't think rates are falling apart. >> the knee jerk reaction is to see these stocks get hit and you wait and see them run up. i would assume that that's the case with utilities, too. these rate sensitive issues all search for yield going forward. >> are you going to say southern? >> no. but you did, thanks. i don't have to. >> got you. >> you tricked me into it.

time for the big movers of the day. >> these are one of these names that i would not short but i would not buy it because it ran too far. spark was the catalyst for the bull story. way too high to get in front of it. >> texas. >> they narrowed the range but it was below a lot of high expectations. the stock is down 3.7%. this is extensive stock. we just told you that consumer chips are weak but industrials are strong. so this one probably has a little room on the down side. >> sprint, mike. >> basically the issue here we're seeing with the breakup fee with dish acquisition of sprint is one of the reasons that they're not going for that bid. soft bank upped their bid but this is a deal stock. i don't know necessarily that you want to play with it. >> i thought he was playing that close to the vest? >> close to the vest.

>> oh, you've been sitting on that for 22 minutes. drop auto nation. >> stock had a lot of trouble at 48 bucks. wait for it to trade down to 42, 42 and a half and take a shot. >> doel up 22%. >> this guy is no second banana. david murdoch somewhere around 12 dollars a sure. a lot of people think this needs to get done closer to the 52 week high. >> this is a story that he is going to stay. pop for toe wrestling. look away. >> that's disgusting. >> a group of professional athletes finds it particularly hard to admit defeat. this was a real nail-biter. contestants battled fiercely in the arm wrestling of the legs.

annual competitions have been going strong since the mid 90s. >> that woman in the middle looked like fat amy. i know you know what i'm talking about. >> keep talking, keep talking. >> i'm going to ignore you. coming up next one big bank seeing big time gains so far this year. so why is one of our traders sounding the alarm to stay away. with bathing suit season coming up could the new obesity drug be coming out. tdd# 1-800-345-2550 [ trader ] when i'm trading, i'm so into it, tdd# 1-800-345-2550 hours can go by before i realize

tdd# 1-800-345-2550 that i haven't even looked away from my screen. tdd# 1-800-345-2550 ♪ tdd# 1-800-345-2550 that kind of focus... tdd# 1-800-345-2550 that's what i have when i trade. tdd# 1-800-345-2550 ♪ tdd# 1-800-345-2550 and the streetsmart edge trading platform tdd# 1-800-345-2550 from charles schwab helps me keep an eye tdd# 1-800-345-2550 on what's really important to me. tdd# 1-800-345-2550 it's packed with tools that help me work my strategies, tdd# 1-800-345-2550 spot patterns and find opportunities more easily. tdd# 1-800-345-2550 then, when i'm ready... act decisively. tdd# 1-800-345-2550 i can even access it from the cloud tdd# 1-800-345-2550 and trade on any computer. tdd# 1-800-345-2550 with the exact same tools, the exact same way. tdd# 1-800-345-2550 and the reality is, with schwab mobile, tdd# 1-800-345-2550 i can focus on trading anyplace, anytime... tdd# 1-800-345-2550 until i choose to focus on something else. tdd# 1-800-345-2550 [ male announcer ] all this with no trade minimums. tdd# 1-800-345-2550 and only $8.95 a trade. tdd# 1-800-345-2550 open an account with a $50,000 deposit tdd# 1-800-345-2550 and get 6 months commission-free trades. tdd# 1-800-345-2550 call 1-800-578-4439 tdd# 1-800-345-2550 and a trading specialist will tdd# 1-800-345-2550 help you get started today.

in that time there've been some good days. and some difficult ones. but, through it all we've persevered, supporting some of the biggest ideas in modern history. so why should our history matter to you? because for more than two centuries,

we've been helping ideas move from ambition to achievement. ♪ and the next great idea could be yours. ♪ >> i sat in those meetings myself and said make believe the pope is over here and the chairman of the security exchange is over here. what is the right thing to do and that's what we are going to do. you have a million people second guess what happened after the fact but we did everything that we thought was the right thing to do. there was no hiding, lying, for

bull [ bleep ], period. >> that jamie diamond speaking on the so called london whale. strong language for a guy who called it a attempt pest in the tea pot and it turned out to be something different. >> i'm going to be in the minority on this thing. i don't think jp morgan did anything. it just went bad. instead of losing $8 billion would we be having the same conversation if they made $8 billion because the risk is exactly the same. >> i don't think we would be having the conversation at all if he hadn't called it a tempest in the teapot. >> morgan stanley stock falling along with the financials. will they continue to outperform or is there a down side ahead. we have a bull and a bear

tonight. total of 90 seconds to make the case. >> is it's a sensible trading call for morgan stanley to take profits. i have no issue with that. but trading at 8 times the book value. here's a bank with the most profit ability of the second quarter has arguably the best fixed income. it's still not clicking on all cylinders. by taking out the remaining of the business they bought from city bank is a major driver for the most important part of their business. this is a bank that in here heyday in 2006 was trading 2.2 tangible is trading at 0.8. don't chase it, own the stock. >> the fixed income have actually been cutting back. you named it when we started the show. if you agree the market is at risk, europe, asia, morgan stanley gets cut in half.

they have had losses on fixed income, losses in bonds, losses in commodities. over 40% last year so i don't see a reason why it's going to be up this year. >> wow, first ever. 18 seconds left on the clock. >> we get to the point. >> we'll go straighter to the verdict. >> the shorter i speak the better i win. >> mike, what do you say? who won? >> i'm going to go with tim on this. any part of the institutional brokerage business you should be concerned about. the fixed income business is relatively small. this is a asset management business. i'm with tim on this one. >> that's why it's more defensive in a rising rate environment which is what we're talking about. this bank is not as exposed as they were. >> it has performed exactly on pace with the s&p. >> did you guys hear the buzzer? did you hear the buzzer? thank you. we want to know who you out

there thought won the street fight? tweet us @cnbc. facebook holding first shareholder meeting. mark zuckerberg weighing in on everything from mobile to stocks performance. >> disappointing, exactly the word ceo mark zuckerberg chose. the first shareholder meeting as the first public company they noted half of all android and ios apps are somehow tied to facebook. the conversation was heated, detailing the money they lost and ask if it was mismanaged. he said the followed the normal process. the topic of privacy after the

revelation of the program, zuckerberg reiterating a message he posted on his facebook, no agdsy has access to its servers. he said the company would beef you have the government affairs to better thwart pirates and hackers. that way when asked for personal information you can tell if that's legitimate. whether engagement is shifting photo based apps. zumer burg said rivals will try to build technologies. cheryl band sandburg asking if these leaning in too far, sandburg responded and said facebook is her top priority and she would only leave if mark zuckerberg asked her to. >> interesting about cheryl sandberg. she's been everybody r

everywhere. you have to wonder how much time does she spend at the company. >> is zuk the right guy for the job? >> are you saying no. >> i don't think so. we saw this happen in ebay, goingle. at some point there is going to be a grownup. >> an eric schmidt kind of guy. >> everything this guy does is a disaster, the introduction of all these new products. this stock has to make a floor in this $24 range on a technical basis. >> belviq, the new anti-obesity drug hitting the shelves today we have an executive interview with arena's ceo. stay tuned. we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected.

it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. at farmers we make you smarter about insurance, because what you dont know can hurt you. what if you didn't know that it's smart to replace washing-machine hoses every five years? what if you didn't know that you might need extra coverage for more expensive items?

and what if you didn't know that teen drivers are four times more likely to get into an accident? 'sup the more you know, the better you can plan for what's ahead. talk to farmers and get smarter about your insurance. ♪ we are farmers bum - pa - dum, bum - bum - bum -bum ♪

>> welcome back to fast money. i'm josh lipton. we are watching a high fire in the after hours. that would be ram bis which says a south korean company agreed to sell a patent case over a memory

chip technology going on for 13 years. that's up ten percent in the after hours and up 90% in the last 12 months. >> what's the trade on that? >> it's going to play out tomorrow. be a huge volume day. short side with relatively low risk. ram bus is going to be it. >> next a new weapon in the fight against obesity hits u.s. shelves today. the new drug belviq is the first drug to be approved. joining us from arena is jack leif. arena developed this drug. there's another drug on the market put out by your competitor. that was on the market ten months before belviq hit the shelves. in general analysts have been disappointed with the sales even though studied have showed that

the other drug produced more weight loss. what's your comment on that? >> we have a completely new drug, melissa, we're really thrilled. this is a transform tif moment for arena form suit cals. when we started the company 16 years ago we wanted to bring new medicines to patients and physicians who had unmet medical needs. with this new drug, belviq, we're able to do just that and also validate the technology that we have for the rest of our pipeline and also start the engine, the financial engine that will allow the company to become profitable as well as fund some of the rest of our pipeline so it's very, very exciting time for us. >> how does it compare with the other one in terms of the insurance coverage and the out of pocket expenses. that was the problem in terms of

the sale of the other drug. >> i'm going to let linell take that question. >> come in here. >> i'll be happy to answer that question. first, i think payers will ultimately pay for belviq. the reason is simple. the exploding cost of treating patients with obesity, particularly are patients with koe morbidity is significant. when you have a drug like belviq that reduces weight we can have patients reach their goals with the weight and health. 30% of payers cover weight loss drugs or weight loss management drugs. in the next 24 months you're going to start to see 50 to 70% of payers cover this drug. that's the prediction we have. we have 50 dedicated managed care special lists working with these plans every day and the conversations are going well. >> how are you marketing the drug so it stands out versus the

competitors out there? >> belviq is a new check cal entity and works very differently than what's available in the marketplace. number two, jack and his team did a great job of studying belviq for the at risk population like type two diabeti diabetics. so that is a unique advantage that we have with belviq that others don't. secondly, you have a product that could be broadly district across the country. today belviq will be available in 20 thousand pharmacies as of today. in everywhere across the country in 24 hour notice it could be available to any patient looking to using it. >> i want to get back to sales and how it could fund of rest of your pipeline. what is in your pipeline and how much are you expecting from belviq to help fund that pipeline? >> our most advanced compounds

include a medicine potentially for pulmonary arterial hypertension. that's a life threatening disease. we just finished the phase one, the first initial set of trials. we're getting ready for phase two. also to man agrill for tlom botic diseases. it's an important new advance potentially. we have a drug for pain. as we know, that's also an unmet medical need. very, very exciting time for arena. >> gentlemen, thanks for your time. jack leif, the ceo from arena and linnell coats. what's the trade here? >> the stock has meandered groundered, if they can get critical mass, this is a stock that one analyst put a 12 and a half price target on it. there's no reason that arena doesn't soet up interestingly here. >> the global issue of obesity,

weight watchers is very well positioned. this is a company growing in places even in china where believe it or not obesity is an issue. >> the more mcdonald's and yums there are. >> right. the bar is low. this is a company that has improved the gross margins, first quarters improve stock, trading off lows and it looks interesting. >> tomorrow's stories ahead of the open. why guy adami not the be so excited over his call on general motors. all business purchases. so you can capture your receipts, and manage them online with jot, the latest app from ink. so you can spend less time doing paperwork. and more time doing paperwork. ink from chase. so you can.

before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created for their grandkids' educations... they chose a partner to help manage their wealth... one whose insights, solutions, and approach have been relied on for over 200 years. that's the value of trusted connections. that's u.s. trust.

otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪

start with cat pillar, the stock is down six percent so far this year. >> it had a nice bounce up to 89, looked like it wanted to go and here it is sifting low again. tim has been all over this. at 83 and a half you stay away here. >> h and r block is expecting 261 in earnings per share, revenues about $2.3 billion. >> whether it beats or misses, i would be a buyer but please keep it on a short leash.

>> violence easy ka lading in turkey and the police, calling for the prime minister to resign. tim. >> he remains defiant and this is a crowded trade as well. a pm who has been very strong over the last few years in a positive way for this country. if you are trading turkey, 5750 is the place i think you're react but you don't need to own this right here although i don't think turkey is tunk into an arab spring. >> mike, what do you see in the options pits? >> we saw a lot of put activity. it has picked up a lot over the last couple of weeks. right now it's four times the interest in the calls. 50% in four weeks. as you mentioned, the price of options has essentially doubled in the same time frame. one of the strikes we saw some activity today was the july 88

puts. a lot were trading on spread, institutional players mostly, trading around 45 cents. it can drop about another 4% by july expiration. >> how do we e read the fact that mike zipped up his vest during the show? are you more defensive now, mike? how are you feeling? >> i'm defensive about comments about the vest so i figured i would show it off a little bit. >> you wear that thing and this is what you are going to get, mike. it doesn't take a brain surgeon to figure that out. options action, every friday 5:30 eastern time. coming up next hour on mad money, kramer speaks to next generation drugs. find out if oil and pipeline could be heating up. one well know etf, we'll tell you how to play it and mr. adami weigh in on the auto trade and

one name in particular that he might not be so happy about right now. stay fun tuned. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. little things anyone can do. it steals your memories. your independence. ensures support, a breakthrough. and sooner than you'd like. sooner than you'd think. you die from alzheimer's disease. we cure alzheimer's disease. every little click, call or donation adds up to something big.

we know some people are never satisfied with a good idea. and work day and night until they end up in a place that no one ever dreamed of. because they know that things can always be better. well, us, too. introducing the redesigned 44-mile-per-gallon-highway civic hybrid. the best civic hybrid yet. made possible by honda.

>> stay away from the auto makers. i think you stay away from the makers and go down stream. >> shares of gm up 25% since. guy, you stay away. >> gm doesn't do it for me. that's only up about 11% over that same amount of time. gm clearly was a trade but i think we're getting to a level where a lot of people got gm thinking the government is going to be out, people are buying cars, the fleet is ten years old on average. i think that trade is over. so i think if you are buying gm it's at best a coin flip. >> you were the other person he was talking about, he said i hear what steven is saying. you're bullish gm then.

>> i was bullish gm and ford. i stay with ford. >> you tweeted out there. let's get to your tweets to our crew. thoughts on bank of america. mike? >> obviously it's hard if you are thinking about getting into it after seeing it have such a strong run, obviously with turbulence. taking a look at the price. >> tim, why is a merging market debt collapsing? >> because the carry trade is unwound. a lot of these places people have been parking money in, global macro, this is a great opportunity. the macros are good but the currentsies are glowing out. they look cheap. >> let's look at the head and shoulders top in ung. it looks weak. >> it does on a technical basis. power plants are switching from coal to nat gas happening right

now. this should be a floor. i would dabl. >> are you seeing flakes? >> come again? >> guy, your personal trading, how do you protect open positions from a black swan? >> that's a wonderful question. >> by definition you can't protect. >> go to break, no. a number of different option strategies you can use. there's a fantastic show on every friday night at 5:30, mike with his vest. >> no vest. we banned it. >> options action. friday at 5:30. check that out. >> are you saying you can protect against a black swan? >> you can. dan and mike will tell you how to do it. get carter worth in there as well. man, you'll have a lot of fun. >> can you use options in that? >> of course. two of the uses for --

>> it will put hair on your head and help you lose weight? >> or the options will protect you against that shirt tie. that probably didn't exist. >> take downs on everyone's wardrobe. are you willing to open pan dor ra's box? >> this is a stock that's down 20% since they reported the their q 1 results. better than expected but it's a $2.7 million market cap. the business model is predicated on sales. this is going to be a tab own amazon but not from these levels. >> so you would not open pan dor ra's box? >> would you, tim? >> i absolutely not. >> it was a great aero smith album. tim and i are thinking it came out in college? >> are we still on air?

>> yes, we are. let's touch on apple. the day after the worldwide developers conference disappointed major swing lower in the stock yesterday. today came off its lows finished down by 3 tenths of a%. >> this stock was very well today in a very bad market. expectations weren't high. this was a software conference. listen, at some point tim cook is going to have to put magic back in his bottle. one more thing would have been one nice thing at some point. it did feel like it was stopping the bleeding today, like a poor market showing. when you had jamie diamonds comments come out, before that it was reacting as well. >> we knew that apple has been sort of the anti-market. when there's a down tape apple holsds up better. >> apple to me ultimately has the best account face, better than facebook.

trading on a free cash flow much cheaper than amazon or facebook. these guys are spinning off a tremendous amount of cash for these user, trying to monopolize on that. this news was yesterday. the sell off was unnecessary. today it should have been. >> who would you rather, apple or amazon? >> that's a good question. >> it's an easy one. >> i'm not going to say apple. i'll say amazon. you get a chance to go above 285. amazon, how do you like them apples. >> we'll be right back. stay tuned. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly

understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." since aflac is helping with his expenses while he can't work, he can focus on his recovery. he doesn't have to worry so much about his mortgage, groceries, or even gas bills. kick! kick... feel it! feel it! feel it! nice work! ♪ you got it! you got it! yes! aflac's gonna help take care of his expenses. and us...we're gonna get him back in fighting shape. ♪ [ male announcer ] see what's happening behind the scenes at aflac.com. bjorn earns unlimited rewards for his small business. take these bags to room 12 please.

[ garth ] bjorn's small business earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth ] why settle for less? ahh, oh! [ garth ] great businesses deserve unlimited rewards. here's your wake up call. [ male announcer ] get the spark business card from capital one and earn unlimited rewards. choose double miles or 2% cash back on every purchase every day. what's in your wallet? [ crows ] now where's the snooze button? just by talking to a helmet. it grabbed the patient's record before we even picked him up. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and stadiums. but, of course, it's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before.

>> who won the street fight, all right. votes are in. it's a tie. >> that's like kissing your sister. >> oh, geeze. >> let's go around the horn. mike, what do you say? >> we can use volatility as an opportunity, names like deer pulled back and falls higher. >> tim. >> i'm going to join the vest.

i think you buy this week. >> apple. >> you think this international turmoil is coming a day over 6. we will see you tomorrow at 5:00. fast money starts right now. >> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. mad money starts now. >> other people want to make friends. i'm just trying to save a little money. my job is to train, educate and teach you. >> you can't ignore what's going on around the world. it doesn't work because it costs you money if