"fast money" coming up in just a few seconds. melissa lee, what's on top? >> lots of investors yesterday were really worried about the fed meeting what was going to happen. we saw major selloffs. a lot of reversals in today's session. so we're going deeper into what this means and whether these are opportunities for you guys to buy out there. >> all right, over to you guys. >> thanks a lot, kelly. "fast money" starts right now. our traders are dan, brian, karen, and guy. tonight's top story, the two words that move the market. considerable time. "the wall street journal" reporting the federal reserve could keep those words tomorrow when it addresses how long it plans to keep short term rates at the current level. that report helping lift a number of stocks like twitter, amazon, and the semiconductor index, rebound from yesterday's losses. so all of a sudden, everything's all better. >> listen, if there was any doubt in anybody's mind at this point in time what is the driver of this market, it's federal reserve policy and that's it. revenues don't matter.

earnings don't matter. it's all about the fed right now. and what they said today was that the stock market is not ready for rate increases. whether the economy is or isn't is a completely different case. >> the meeting's storm. >> the meeting's over. you know the meeting's over. >> listen, that's all fine and good. you can say this. but we've had three years or five years of unprecedented fed action. they've expanded their balance sheet by 3 trillion. that has suppressed volatility in the market. look at the s&p 500. we're right back. it doesn't move. it's stuck here no matter what. to your point about earnings or sales growth, it's not there. there's no jobs growth. >> but that doesn't matter to the market. >> i understand. all of a sudden in october we have a fed that no longer has that put in place. they're going to keep talking rates low, but at some point, it's not there. volatility is going to come back in the market. i think yesterday was a precursor so that. i think we can sell the news tomorrow when the statement comes out. >> i was disappointed that the bond rally didn't catch a relief

rally. we've seen a selloff six or seven straight sessions. you would have thought that language alone would have been enough to set it up. didn't do it. i think it actually closed lower. so that disturbs me a little bit because i'm in the lower rate camp. that's the one thing i took away from today. i think everything that they say is spot-on. if you don't think the fed has anything to do with this rally, you're not paying attention. when that headline came out, s&p rallied. >> significant underutilization will remain, and that's perhaps more important than considerable time in terms of how the fed is thinking about policy and how the fed is thinking about the labor market, karen. >> i'm not going to do a lot on a day like today. the market's been down a lot. and you never know what's going to be the catalyst to make sentiment change. it wouldn't be surprising for me to see some window dressing in the next two weeks, so we're not going to do a lot around that. if it goes below 12, i'll buy more protection. >> we should be clear.

we saw these reversals in today's session, but certainly these stocks that had tremendous losses yesterday, take for instance tesla, it looks good that it finished the day higher by 3.5%, but yesterday it was down 9%. you take a look at the high-flying ipos yesterday. just yesterday go pro hit a new record high. since then, down about 9%. >> this speaks to what the fed has done. they've created an insatiable demand for the riskiest assets that exist on the planet. that's why these things have been going berserk. when you think about tesla, maybe a third of those losses. it still speaks to a potential momentum break. this is why i think these are important to watch as the fed winds down, because these are the very assets -- >> you were speaking with a lot of fire in your belly, dan nathan, so how are you positioning tomorrow? do you think there's going to be a selloff? >> i own stocks like every one of you, i own bond funds and i've been selling a little bit every month for the last six months and i think people should be doing that because you don't

want to wake up one morning and see that we are in a new volatility regime and have to make some hard decisions. >> so the risk tomorrow is not about the considerable period. what they also are going to come out with is what the exit plan is, and the phrases you're going to hear are soon, and slow. or late and fast. what that means is is the federal reserve going to start raising rates or normalizing policy soon at a very slow manner, or are they going to wait until they really see the economy rolling and move late and act very quickly, and i think the risk is that they're going to act late and forecast. that will be good for stocks in the short term, but in the longer term, it's a problem. >> what do you think? >> we're going to have some time during the session tomorrow ahead of that press conference to trade. >> i've been in the dan camp. i was surprised the market rallied. that one surprised me. i'm not typically surprised. so the world is changing a little bit. maybe the folks in the bearish bond camp are going to be right

for a foreseeable period of time. i don't think they are. i also don't think that both can go up at the same time. and maybe the divergence is exactly the opposite of what i thought was going to happen. i thought bond rates lower, s&p lower, rally in the bond market, selloff in the s&p. maybe the opposite is taking place right now. >> let's say it plays out exactly the way dan nathan thinks it's going to play out. >> that dan's worried about everything in the world? >> it would be shocking i know and highly unlikely. but let's just play that game. on a pullback, what would you be inclined to look at? >> today, i bought some darden. i think it was guy's final trade. i like that. that's interesting. i do think that some of the retail stuff, i still like that we have had gasoline prices coming down and energy. >> after getting hit hard the last few weeks, we've got someone who has three refiners that you should own right now.

let's bring in paul sankey. you have a number of refiners with an overweight rating on. how has that average so far this quarter? >> we narrowed today and had a huge reversal in oil. i'd throw in the dollar as well of something worthying abou int about. it's narrowed the spread. as you know, it widened quite well but it's still getting to within five bucks and a bit tighter than we thought it would be at this time. so that part of the course not working that well. having said that, what was interesting today is the refineries went up simultaneously. our general theme is all of what's going on is good for oil companies. >> in terms of the refiner trade specifically, i would assume that the refiner trade moved higher because of the rally we saw in crude based on what opec

says it's going to do. so it's it more sensitive to? >> the primary thing always is demand. if you look, you'll see more demand for oil. the brent wti is complex. although there's -- if you want mickey mouse argument that brent price will stay very elevated and there's way too much u.s. crude and it's going to get really cheap, we don't really buy that because the refineries are running more of this crude and we think that's positive. it's not as simple as just calling for a blowout. it's saying there's more and more cheap crude. they're maintaining the price, which takes pressure off the export bound being lifted. one of the big fears is that we allow crude exports, that greatly narrows the spread. our view is a longer term view in refining. it's such a mega theme.

>> mpc is the first one. why? >> they run the refineries. the first thing you do is you run the refinery. if you don't, you lose three ways. so that one has got the best management. great mlp story. that's why we like western, which is the second name we've highlighted to you. the smaller names, the price of crude as priced at midland where you have a real oversupply story that merges from time to time. when the growth is so enormous, it overwhelms the infrastructure. at times, we've seen that spread growth of $20 wide when it should really be about parity with wti. >> western refining has had a lovely write-up. great-looking chart. why does it have, relative to its peers, an incredibly high interest? why are they speaking at a

leverage finance conference for deutsche bank on october 1st? >> they have in the past used a lot of leverage finance. they were almost bankrupt three, four years ago, so i can see why that would happen. but the big story there, i can't speak for the short interest because we're overweight. we like the stock, and we think there's a huge story with this mlp. they own part of a refiner called northern tier. we think they're going to do a lot of restructuring of those two refineries. and create a really attractive mlp vehicle, with the infrastructure they've got and possibly with the refineries they've got. so we see good upside in that name. >> i understand you like the picture longer-term, but shorter term and more immediately, are estimates at risk because of what's going on with the spread? >> one of the interesting things is that cracks are good and normally we wouldn't expect at this point of the year with demand falling out of summer, demand generally being fairly week. the crack story, which is just to say that refining margins are

good, relatively speaking, at least. tends to indicate that u.s. demand is actually somewhat better than we might think and certainly that exports of oil products are leaving the country. so i think in the short term we're very comfortable with the refining trade. we had a big reversal in oil, so there's a lot more volatility emerging certainly. >> thanks for stopping by. where do you trade oil? >> paul brought up the difference between the refineries and the enp. i'd rather be in the enp space. at the core is demand for oil, the demand in the u.s., whether it's going to come from china, and when you look at the out years, 2016 in oil, 2017, '18, those prices really haven't dropped as much. so to me, there's a supply problem out in the future which is going to benefit the enp, so xop is the trade. >> guy? >> kudos to dennis yesterday who reversed course. being a trader, you've got to be flexible. do not be dogmatic.

>> i like that. >> throw that graphic up. >> do you have a trade? >> exxon mobil. i like wnr. that short interest to me is the reason why the stock will continue to relax that power. exxon mobil to me sort of bottomed at 95. i think exxon mobil gets you done. >> i still like dorian. it's a direct beneficiary of the shale play here. >> let's send it over to dawn for a quick market flash. >> down by 17%, melissa, on about 2.8 million shares of volume, so heavy trading. it's plummeting. the cloud competing company announced it's ending its strategic review of alternatives. back in may, it had received overtures from several interested parties. you can see the stock is down by about 17%. i also spoke to a source familiar with activist investor blue harbor group. they were saying this doesn't

fundamentally change the firm's stance on rack space. they are a top five shareholder. they earn about 6.5% of shares outstanding. they do reiterate prior public statements, that rack space has to unlock and deliver meaningful shareholder value, whether as a standalone independent company or pursuant to the current strategic review process. that process has ended. back over to you guys. >> thanks for that. >> trading only on the hopes that it was a takeout. >> apparently. they'll say it's going away, but a name like century link says something. i think you buy the weakness in rack space. tomorrow could be a little bit dicey, but i don't think the story is -- just because they say it's over, doesn't mean it's over. >> listen, they were for sale for months and months. the stock traded up to the high 30s and back to 30s in august, and then it had this rally. there must have been some rumors

of some interest. i don't think you touch it. >> to you it's been on the mark long enough. everybody's passed. >> there's got to be a problem. where there's smoke, there's fire. why jump in on this one when they've already said hey, we're for sale. >> it's a street fight brewing here. >> it's happening right now. you're fighting. i like it, though. apple's china problem. find out just how important china could be to apple's iphone 6 release. plus, pandora is popping on comments from jp morgan. that's coming up on "fast." the world has gotten you far, but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running.

♪ shares of apple and china mobile falling today after reports the company's new iphone 6 models may not make it to china until 2015. let's bring in ramon lamis. great to have you with us. >> nice to be here, thanks. >> certainly we saw a sharp reaction in the stock to the news of the delay. but delays are simply -- there is demand in china. it will play out in the first quarter as opposed to the fourth quarter or the third quarter. isn't the more important date in terms of getting in china

february 19th, which is chinese new year's? >> that's exactly the high time to get in. look, just like for the rest of the world, the fourth quarter in december and christmas time is a very popular time for, you know, consumer electronics. so it is for february in china. so it's very popular to have a lot of consumers go out and get these new iphones as gifts, give them to family and friends. so this is going to be the realtime, the real litmus test that apple and china can get everything together to offer to consumers there. >> at the same time, a manager of china mobile has been quoted by reports saying it will focus on selling cheaper phones that don't rely on subsidies, cheaper phones meaning under 1,000, so you're talking about the facts of waway. even at the margins for those players to gain some share in china while it's not there. >> this isn't just a small opportunity for those companies. it's a huge opportunity. take a look at where china is right now. it's still rather underpenetrated in terms of

smart phone usage and in order to reach a lot of users out there, you're going to need a rather inexpensive smart phone. it translates to just under a couple hundred u.s. dollars, but to the average, you know, chinese citizen, if paying upwards of $500 or $600 as you would for an iphone, that's rather cost prohibitive. so taking the other route and saying listen, we're going to give you something rather inexpensive, doesn't say apple on it, but it's going to do a lot of things that you want to do. that's where a lot of the growth is going to be taking place in the years ahead. >> but isn't there an issue about what's the addressable market for 4g and higher phones in china? we know that china mobile has hundreds of millions of subscribers, but i think i read something recently that there's only 14 million of them that have access to 4g networks. so if you think about what the addressable market is, is it enough to move the needle going forward at this rate? >> i think you hit the nail on the head.

the total adjustable market is still small, but given that you're going to be holding out to these phones for a couple years, you want to be prepared to move that addressable market that much larger going forward. so until we reach that point, we're going to be looking at some of these other in older phones. even though you have the iphone 6 and the iphone 6-plus on the sidelines, you're going to have 5, 5c, 5, 4s, all these devices that can run on slower networks and rather still compatible. i don't think apple's totally out of the picture by not having iphone 6 and 6-plus. >> so will the watch be available in china early '15? >> that's too early to tell right now, but when i take a look at the apple watch, it's a great first generation device. you can't really have a watch

without compatible devices. now, luckily, you don't necessarily need the six or the 6-plus. you can still go back to the 5 or 5c and it will stick work. aside from the availability of which compatible devices you're going to have, you're still going to run into the entire problem of you know what? the chinese government may not feel 100% comfortable having these other devices coming on in into the country for concerns over security. so this may or may not get tied up, but looking at where apple has diversified around the world, apple still has an opportunity to sell millions and millions of units. >> ramon, great to speak with you, thanks for your time. what was interesting about apple is it really fell hard, and then along with the markets, of course, reversed. it had quite a nice reversal. >> with the s&p up 20 handles, it should have closed. it's still down. trying to mobile down a percent and a half today. we played a game about a week or so ago -- >> which game would that be?

>> today the s&p is up 20 handles. and the apple is lower. i will remain in the trading down to 88 camp for a myriad of reasons, not least of which the chart seems to indicate that we've made a bit of a double top. doesn't trade particularly well on all-time highs in the s&p. we'll see. here comes the vitriol. i know it doesn't mean it's not a great company. i just think the stock's overdone here. >> it seems like we shouldn't care if the iphone 6 is delayed, unless we think that estimates were too high in the fourth quarter. >> shouldn't care about any delay. but the question becomes what is the next catalyst for this stock. what's the next catalyst for apple? and i don't know if there's necessarily one out there, which is why i think the stock trades in range. >> the holiday sales are going to get press releases saying they're record sales. >> yeah, we got a press release yesterday. record sales. >> and the iwatch is going to come out. >> we had news yesterday, that

was the biggest iphone launch of all time. and the stock traded on its lows. today the news is out there. >> here's the thing, mel. i think ramon said it. he just said kudos to apple. everybody's saying kudos to apple, all right? as far as i'm concerned, you guys have a stock that is expected -- the company is expected to grow earnings 10% this coming year, fiscal 2015 that starts in the december quarter, and sales 10%. those estimates just got ratcheted up. that is the cycle. they're in the numbers right here. the only way that they probably hit those earnings numbers, if they continue to buy back stock the way that they've been doing it, about $25 billion a year. i just think that there's a lot of really good news on the stock. i agree with bk, i think a lot of this recent news is in the stock. what you have now are a bunch of ious. i owe you a new itunes and beats and that sort of thing. >> fun game the iou. >> this is sort of a kaiser --

are you familiar? apple's done a great job of convincing the world that the world needs their products. >> yes. that's the genius of apple. >> you know who sucks at it? tim cook sucks at it. do you see him up there? holding on at that keynote last week. this is not the guy to convince people that they need evolutionary products. >> i want to get a shareholder's perspective. >> i'm long. i want to stick with the idea. i disagree that there are no chemists. to me, the only problem with the delay is do those sales get lost, not delayed. lost to some other device. that's a problem with the delay. i don't think it's going to happen if the delay is actually relatively short, but this stock isn't priced like the valuation is not crazy here is the bottom line. >> it was cheaper in 2012. >> just because it was cheaper at another point in time -- >> doesn't mean it's overvalued

now. we've got to move on. news alert, fedex. >> fedex is announcing it's going to raise shipping rates, but after the holiday season, the shipper is going to raise rates on its express, its ground. also freight services by an average of 4.9%, again, starting on january 5th of 2015. the stock is edging slightly higher after hours, but we're not in it because of the stock reaction. for more the idea that you have one more company out there who's passing on cost inflation to consumers. fedex raising rates for about 5% for shipping next year. back over to you, guys. >> 5% increase. that seems like -- >> the cost of doing business in the world we live in. like that? >> but what is the cost? >> jet fuel's lower. >> gasoline is lower. >> so maybe it's health care. so either they don't have costs and their margins are going to expand, or there's some other cost out there that the economy as a whole needs to be concerned

about. >> they report before the bell tomorrow, right? here's the bellwether name for you. form, "fast money" is a must-watch. tonight is a must-watch as well. >> every night. what are you trying to say? >> even more so, you're saying. coming up next, the buyout risks continue to circle around soda stream. we're separating fact from fiction after the break. and later, we've got someone who says janet yellen could shock the street tomorrow. "fast money" means trading. everybody's got to bring their best information each and every night. the entire trading day is the preparation for the show that night. >> it's idea generation. it's all about giving you a framework for how to live in the market. as the world has changed, our show has evolved. i am guy adami. i am "fast money." >> are you "fast money"? go to the nbc universal store. when change is in the air you see things in a whole new way.

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in talks to sell itself for a price of 40 bucks a share. now, when i first read this, i thought i had to read this again to make sure that this is actually a new report, because we heard this at least three times in the past year. >> a number of times. with that headline, with the s&p up 20 handles, if you had said where is soda stream going to be, i would have said it's going to be $37. it really didn't move. so you've got to give kudos to dan. i still think the stock should be significantly higher. i think there are other players out there. the last quarter did nothing to help, although, although, operating margins were better. that's the one good thing i can take away. i still think you have to own it. i still think there's going to be a catalyst down the road. >> as a person who once trafficked in the name, do you think there could be a deal in the works? >> i wouldn't jump in on it, no

way. if anything, i faded. and $40 would be a surprising price. right? it's not that much of a premium. we're going to sell all of this overseas growth they talk about and how the margins on the carbon or the co2. no. next up here, live nation. huge rallies in the shares after liberty media announced it would acquire additional shares of the entertainment company. karen, you're in this. >> yes. a couple interesting things. liberty is already a very large share how older. this takes them to their contractual limit. 35%. they can't buy anymore. so this is very interesting. the stock is probably up over 100% from where they started buying. so the story, which has evolved very nicely, they still want to buy a big slug here, that's pretty impressive. michael has done a fantastic job with this company, taking it to the next level. this is really an underappreciated story. it's not cheap where it is, but

it's underappreciated for where it can go, and i think we're going to see the evolution of this company to a new level. >> we will just see simply organic growth and there's not a possibility that liberty would buy the remaining at all? >> i don't think that's their intention. it's possible, but we're not in it for that at all. >> next up, pandora. followed a rally for the stock, this after jp morgan reiterated its overweight rating. >> this is one that's been really controversial. it's a stock that has really underperformed, especially in its market cap range of $5 billion. the stock is only up 3.5% after being up a whole heck of a lot more, when a lot of these stocks topped out in the spring. i was constructive on this stock when it was below 25. i'm less so now, especially after i get a sense for what i think apple and beats look like. i actually think this thing probably goes the way of napster. i don't think it's that interesting of a property. most of those users are on the

ad supported system and i just don't see it. i think it's an okay product and it's going to take somebody who really wants to leapfrog a competitor to go in and play 7, 8, $9 billion for this property. i'm fading it. >> the way of napster. those are strong words. >> i know. i actually think in a very short term, let's call it the next 30, 60, 90 days, that if we get some kind of big rally in the market, this is the place to go. it's handled very well. a year down the road, could it go to napster? possibly. i still don't understand jp morgan. it doesn't make any sense to me. maybe tomorrow they'll go in at 351. coming up next, we're less than 24 hours away from the fed's decision. will janet yellen signal a rate hike is near? that's next. and later, eddie lampert is giving sears a $400 million

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still ahead, find out why fed chief janet yellen could send shock waves through the market tomorrow. and sears is borrowing $400 million from eddie lampert's hedge fund. karen is on the case. plus, a bearish bet on one apple supplier. we've got the trade coming up. we start off with the fed's big decision tomorrow. joining us, institutional investor, just named his team number one in currency strategy. congratulations, first of all. that's huge. >> thank you. >> number one in the ranking, that's huge. that's why he is here. good to see you. >> thank you. >> you put out a note, i believe it was almost a week ago, saying the considerable time period phrase would be out of the statement. today we have a report with "the wall street journal" saying it's likely going to be in and we saw the markets rally. you still stand by your thought that it's going to be out? >> yeah, i think a lot of people have the view that yellen is going to be dovish forever.

she moved herself towards the center of the committee. and a lot of people on the committee wanted to be more balanced in their statement. i think it's highly likely to come out at this meeting or the next meeting, but most likely already tomorrow. and if that's the case, it's going to be a surprise to a lot of people and it's going to move. i think also has an influence on risk assets. >> it's a surprise, but what's interesting is there are so many people who are coming around to that outlier view. we've seen the move in the dollar against any cross, and then we have a lot of major banks saying the first rate hike is going to be in the spring as opposed to next fall, so at this point, has that become consensus? >> yeah, we've had this view for a little while and it was deemed outrageous a little while ago now. it's becoming an cone se ing co. if you look at march rate hike, it's still very low proeblt. so that needs to come up higher.

so that needs to come up higher. >> there's also talk about the soon and slow technique versus the late and fast technique, and then act very fast. where do you come down on that? where do you think the fed committee right now is at? >> i think there's sort of two elements, one that pertains to the timing of the raising rates, the first time, and then the pace thereafter. i think right now, they are debating the timing of the first rate hike. they can't have both debates at the same time, so i think that's the focus now, and they don't want to confuse the communication too much, to be honest. >> i want to walk through your scenario. let's say the considerable time phrase is, in fact, out. and you think that the view has not been consensus yet. so what are the reactions you would anticipate we see? do we continue to see a rise in the dollar, a rise in yields, for instance? >> yeah. i think we've already seen a good move on the dollar, but we can have an extension and i think it can broaden out further, because initially the dollar move was very concentrated against the yen and the euro. it's only in the last two weeks

that it starts to really move against emerging markets, so that would be where i think there's potential for the biggest move, because the surprise is the biggest there. when i speak to investors around the world, there's really no consensus on emerging markets. a lot of people would be quite surprised if we have this move and american markets take a big hit. >> in terms of yield, what's your view? >> yields, wouldn't be surprised to see meaningful followthrough. so there's some potential there. and then i think on risk assets, i don't think the equity market is particularly prepared. still very low, so that suggests it's not a huge amount of risk at this point. >> so your number one currency strategy according to ii, but you anticipate volatility in the equity markets based on your projections for what's going to happen in interest rates and the dollar? >> that's right. >> okay. so baton down the hatches. >> a little bit for the next month or two weeks. doesn't mean we're going to have big turmoil. but the next couple weeks, need to be careful. >> thanks for coming by.

thank you so much. so dan, music to your ears. that's what you're predicting? >> do they rank it to 100? >> something. >> i think we know that the fed has suppressed volatility. if we do get rates that start to move higher, i think at some point equity markets have to respond and i think everyone's a bit complacent here. >> are you trading the dollar these days? >> i am. versus the canadian dollar. so as this rally starts to broaden out, you want to look around the world, actually. >> all right. time now -- why are you laughing? fill in the blanks. you can tweet us, let us know. time now for "pops & drops." big movers of the day. a massive drop for virnetx, threw out the patent award it won against apple. >> after u.s. courts threw out the patent award that it won

against apple. i never heard of it until today, but oh, my god, what a terrible bit of downside that was for them. this is so hard. >> securities downgraded. >> yeah, listen, the whole coal space has really been hard. comes out of australia. i know there's a lot to this. but i would just stay away from coal at this point in time. >> u.s. steel up 4%. >> tremendous operating leverage with these guys. got to give a shoutout to adam, talking about u.s. steel, an analyst. we've talked about it. it's had a huge run. feels like it's in the cross hairs right now. >> dick's sporting goods down 1% after announcing the retirement of two execs. >> i don't get the aversion to dick's here. the stock is down 20% on the year. expected to grow earnings and

sales above 10% next year. i've heard guy say this a lot. so what do you like about dick's here that you think is a turnaround story, or with the manager out here, is there a potential acquisition target? >> it might clear the way for some change. this could be a catalyst. >> it's a great stock. >> all right. >> i don't know why you're dragging me. >> you talked about it. anyway. untapped potential. college students who enjoy their time around the keg can now add beer to their course work. starting in the spring, paul smith college in upstate new york will allow students to minor in craft beer studies. the college is looking to cultivate the next generation of small batch brewers. it includes business courses in management, advertising and promotion, and for the record, annual tuition at paul smith college is more than $22,000 a year. 22 grand to learn how to do a

hobby. ladies can apply free. >> it's a craft. it's a still. just like anything se. it's chemicals. you've got to mix it together. i had a friend in college who tried. >> if your child came home and said you're paying 22 grand for college for me, i want to minor in craft brewing, what would you say? that doesn't include room and board. >> i'd say whatever makes you happy. >> that's poppycock. >> they got a degree in chemistry and got a job for anheuser-busch. >> excellent point. >> at least maybe you can take that degree and go elsewhere as well. you work for dow chemical. >> you can do the same thing with paul smith college. i think it's a great school. >> anyway. adobe falls, anne dom is on the story. >> moving lower in the afterhours as its third quarter sales came in below forecast. conservative guidance for its

fourth quarter. you can see those shares down there by 5.25% trading. and two things. first of all, craft beer is a competitive business. and second of all, i applaud your use of the word poppycock. >> i mean, it's vastly underutilized. significant underutilization of the word poppycock. >> this is a $35 billion market cap company. t it is very expensive. they may be correct or they may be a little aggressive. here's the thing, people. creative cloud. they gained licenses there. the stock will probably be up on the day before we're done. >> thank you. that's going to be my point. we have seen this exact same story in adobe a number of times, where they make comments, and the stocks subsequently make a new high. let this fester a couple days. the stock will be higher by

friday. . still ahead, sears falling. is this a sign of the end for sears, or will it give the stock new life? we'll get the fine print. that's next. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions,

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welcome back. in a new set of court documents, attorney general eric schneiderman defends his suit against barclays, reasserting that the british bank misled investors about high frequency traders in its so-called dark pool by talking up policing practices that actually weren't used. according to the filing, barclays head of electronics detailed those practices at an event of the american enterprise institute. >> where we see suspect activity, we go out with clients that we've actually shut off in the firm. >> schneiderman claims those measures were not actually taken. meanwhile, barclays has relieved white of his day-to-day duties. back to you.

>> all right, thanks so much, kate kelly. in terms of financials more broadly, this is still an issue for barclays. for the rest of the sector, not so bad. you would think maybe would have turned around a little bit more. >> if you talk about the banks specifically, they've been trading pretty well. it's interesting. maybe this whole yield curve -- maybe jens is going to be right. main we'll have this yield curve moving in favor of the bank. the stocks seem to be telling you that. isle still in the lower rate camp. if i'm rate, got to move in the banks here. >> now to sears, and ceo eddie lampert. lampert agreeing to loan the struggling retailer -- excuse me, $400 million from his hedge fund. karen's got the fine print on what may be behind lampert's latest move. >> it's always a complicated story with eddie lampert. i want to thank tom for spending time to go over it with me. basically, this is a band-aid from eddie lampert, maybe

permane permanently, i'm not sure. just until the end of february, just to get them through the christmas season. it's a first lien on properties. that means he is so protected from this loan going bad, even if it does, he'll get properties back that are worth more than the loan probably. the third thing is, he gets $7 million just for agreeing to do this. that's an up front payment, whether or not they even draw the whole thing down. the other thing, if you look at sears, relative to where the debt -- not even comps. like jcpenn krrvegcpenney looks bill in the risk here for sears taking on. this is definitely a band-aid. he's got to do something much better than this to get them through -- maybe they'll get through the season, but going forward, i don't know what the strategy is. he's got to do something much bigger. makes you wonder, could they not get the money anywhere else? >> exactly. they couldn't get it faster for the christmas season for $400 million? >> it makes you wonder if the vendors are coming to them saying we need more securities here. all that having been said, it

portends a very emotional christmas for them. with earnership as big as it is, short interest as high as it is. it's extensive. high teens to 20%. you can't play either way here. it is too dangerous. >> i think that's 100% right. you can't play this one way or the other, because shorting it is just too dangerous, because eddie lampert could do anything at any time. but the fanct that they couldn' get money for christmas, it was terrible. >> it wasn't a lot of money. in this environment, where rates are nothing and you could raise money for anything. for a money-losing company in silicon valley. >> all right. gt advance technology is down 30% since apple announced its two new iphones will not feature the unbreakable glass. we'll tell you why traders are betting it could go even lower. that's next. this is a burrito made with

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[ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. while anticipation builds, the apple supplier is grabbing the attention. this is one we talked about a lot because it's just been clobbered since that launch.

>> you don't see this a whole heck of a lot in tech. the buyer was going to go into the screens, well, it didn't. when the stock immediately sold off, as soon as it was cleared during that event, the stock is down 30% since. it's really interesting today, options volume ran two times average daily. and there was one really big bearish roll that caught my eye. at one point when the stock was just below 12, the trader sold 17 puts that were well in the money and rolled the premium and bought 17,000 of the october 12 puts. that were also in the money, but very near the money. when you look at the chart right here, this is the damage that's been done over the last week here, 30%. and i suspect this trader is really just rolling protection for a long position down, and i've got to tell you, this is one that's starting to catch my eye when you get back. it round trips this entire iphone sapphire move that never materialized. i think this company probably

has a brighter future. >> what would the catalyst be at this point? the problem, we've had the raymond james analyst who basically called it a head of the launch. he got a lot of flak on twitter. he proved to be right. but his concern is if it's not in any of the iphone products, they're going to have a hard time making sales numbers for the third quarter. >> a really hard time. now with the current levels, you ask yourself, have we overshot on the downside? which i think we probably have. and if you look at that chart, dan had a great chart. we did a thing on technical analysis. guess what, folks, that's pretty textbook right there, so we may have a little more room, but now you can catch this just like you caught it on the way down. >> all right, options action on fridays. stay tuned. when change is in the air you see things in a whole new way.

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"final trade." >> i'm with guy. i'm on apple puts here. i'm looking for 90. >> i think the energy space is very exciting around eog. >> karen? >> i'm going to second what guy said last night. darden, we bought them today.

>> it's like a guy love fest here. >> happy birthday. >> yeah, happy birthday. >> getting it done today. 28. western refining. he's getting it done, too. >> i'm melissa lee. thanks for watching. see you tomorrow. meantime, "mad 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. hey, i'm cramer. welcome to "mad money." welcome to camer qaa. other people want to make friends and i'm just trying to make you aing money and my job is not just to entertain you, but to teach and absolutely coach you through a choppy market so call me at 1-800-743-cnbc or tweet me @jimcramer. after a dayre