>> for now, thank you this afternoon. "fast money" is coming up in a few moments with melissa lee. >> i hate crowds. i'm so glad i'm not down there. jack moss said in his interview on squawk on the streets that his personal hero is for rest gu is forrest gump. we is the producer from the movie, calling in, telling her thoughts on why thee thinks entrepreneurs might really gravitate to this movie. "fast money" starts right now. live at the nadz marketsite in new york city's times square. stocks close sharply lower with tech and small caps leading declines. the nasdaq seeing its worst day since july 31st with the momentum names in particular. tesla, amazon, netflix all logging serious losses.

tonight we ask is this the death of the momentum trade. guy, for a long time you've been flagging the iwm, the canary in the coal mine. it was leading losses today. >> remains at $112.40. i think we have to see what it does to the s&p if it gets to 110. a name like mobile nb mflt y had a bounce. though i'm pessimistic on the russell, i think there will be opportunities to buy these stocks. tesla's a name i think will trend down to 225. i think that will give you an opportunity to get long in the stock. >> from our company portfolio this is not a good day at all. i thought there were so many good things coming if today. we had a very busy m and a front. big deals. multiple ones. that provided no floor

whatsoever. as the day went on it just got worse and worse. with the vix here at 1369, i think this gets worse before it gets better. >> we've only had one close in the last six weeks over the 200-day moving average. here we are today over the 200-day moving arch. ow second time now. i think the read is we have to see a little bit more time. this is only a single day. in the last week, smh still higher. xlf, still higher. there are a lot of elements to this market that have been behind this stock market moving to new highs that have continued to hold on. there are areas that are definitely under pressure, no doubt. netflix, amazon, the names you guys bring up. tesla as well. getting pushed to the downside. >> the jury is still out when it comes to semi-conductors, financials, but individual names you're not positive on.

>> those specific individual names, i think there are names that continue to perform very, very well. big cap tech names, i still like the way microsoft and hewlett-packard is trading. >> you want to be in larger cap names. you look at tesla. tesla's not a small company. the sentiment has really turned on the stock. started last week with morgan stanley, goldman sachs, today it is jap mopmorgan morgan. >> what took you so long on tesla? as the dollar has been rallying, my view is that that takes volatility higher and correlations higher. last week think of all the events we had. we had the fed, scotland, alibaba and triple witching on friday. as a market event we typically see the market trade off after the fed and after triple witching. to sell everything today and say momentum is dead, no. but to say stocks are starting to trade together?

absolutely. there's nothing related about their businesses. if you want to see people are taking some chips off the table, i think you should. do i think the dollar is going higher? absolutely. do i think that will derail the stock market in no. but there was a lot in the last few days that should have people concerned includings china last night. >> i still think the s&p, i think the tell is going to be in the russell. it holds 108 and bounces, the s&p will trade at levels we haven't seen yet on the up side. i think 108 is the line in the sand in terms of the russell. we'll see what happens when we get there. i'm of the believe in it gets there it will probably trade right through it. >> how important is it for these momentum names to bounce? do we need to have them bounce and trade okay in order for the broader markets to rise as well? >> no, i don't think you need the momentum names to carry the broader market. but you can't paint with the same brush stroke. mobile light today had a nice bounce. tesla i think will trade at a level you want to own it at 225. i don't think the netflix story

is over. >> you say no touch for an amazon, for tesla? >> i think my opinion -- >> what are the trades here? >> my opinion remains the same on all the names, whether tesla or amazon. tesla is at the lowest levels in about a month and a half. and it was exploding just too far in front of the 50-day moving average. if you continue to look at stuff like that you start to see that. when they get near some of these moving averages that have held up for a long period of time, i think they are worth a look again. volume timts are extremely low. that's where you can attack something if you want to be in a tesla, that's how do you it, through options when volume tilts are low. >> were you buying anything today, karen? >> i am getting close to buying some more mesa. i'll probably do that tomorrow morning. one thing we shorted today was tessco. >> oppenheimer's head of technical analysis is at the smart board.

ari, what are you seeing for the markets? this is a pretty jarring day for a lot of investors. >> it's become a very selective market. it's showing up in the broad market averages. in a selective market you have to be selective. one thing we like is big caps over smalls. couple charts, first let's start with the s&p 500. new high. really no signs of a top. nothing to get concerned about. i don't want to be selling shares here but i want to put off new longs for now. i think can you get them at better prices. but moving average i think potentially overlooked that will lend support here is the 120-day moving average. i bring it up because it's done such a great job of marking inflections in the index over the last year-and-a-half really dating back to 2013. that moving average currently comes in at 1935. that's near-term support. i am a buyer of a pullback to that moving average. now moving on to the small cap gauge, here's the russell 2000

etf. we have a much different look here. while the s&p 500 is at a new high, russell 2000 hasn't mad a new high since march. in this very wide sideways rake. i think it continues to underperform this rising s&p 500 trend. the important support is 108. that's the bottom level of that range. for now i think it can hold but if it can't hold 108 i think you got trouble really for stocks as a whole. one more chart is tesla. longer term trend is still fine. we can see it is still above this rising 200-day moving average. what gets me concerned in the near term is you had this breakout above 265. couldn't hold it. there wasn't a lot of conviction on that break-out. i think tesla shares continue to trade lower in the near term. i'm looking at $215. that's the july low. if you get signs of stabilization there, then it sets up a little bit better on the long side. >> bottom line is for the s&p 500, the broader markets, you

need 1,935 to hold. sfli think that's near term risk. don't buy until you can buy at better levels. >> ari wald, thanks for stopping by. >> if you get to 1,935, from 2010, 2011, that's almost a 4%, 5% are pullback. that's significant. if you're telling people to bear it out until then that's going to test people's stomachs which they haven't seen. i agree this is a place where you are most vulnerable. this is the farthest off the top. look at europe. the dax is already 10% off its highs. look at the way europe traded today. this will be another canary. >> were you buying any em today? >> em and other derivatives of that are things that to me two weeks ago were starting to get toppy. i think brazil's going lower if you look at what's going on with iron ore and steel prices. i do think other parts of the risk curve are places where you should be holding off.

i think absolutely gold is going lower. we'll talk to dennis gartman about that later but i was adding -- hedging up a little bit. selling qqqs. >> this is a hedge long, s&p short. iwf. one of the only things that worked for me beside bank of america. i'm going to hang on to it here. i think still big caps are way, way cheaper than they should be relative. i'm going to hang on to it for a while. next, alibaba official ly mark, the largest ipo ever. more after the break. gold prices hitting a nine-month low overnight. how is dennis gartman playing the precious metal route. he's live straight ahead. big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift?

ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern. when change is in the air you see things in a whole new way.

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♪ alibaba's ipo now the biggest in the history at $9 billion. it's dropped 8% from friday's intraday high. was this a buying opportunity? if you looked at it trade close to $100 in trading on friday with this pullback? >> my opinion is no. i still think when the bankers brought it out at $68 a share

they priced it right. they wanted to see a pop. it is hopeful that we brought across on the show that you don't need to chase this. i think you'll get a better opportunity lower but it is painful for me in my position with yahoo! because the only hedge until they bring out options for the next week because they come out next monday is people selling yahoo!. it is not a perfect hedge but that's the hedge that people are using. >> i've also people say where is the syndicate? why aren't they protecting the stock price? that's $20 lower. people are confused. if they think the syndicate is worried about a $90 stock price, they are jumping for joy. there's no need to do anything. >> this is day two of trading for alibaba, all the talk of what alibaba should do in the united states which is bizarre considering china is a country of 1.6 billion people. i asked what are your plans here? he said really the opportunity is to link u.s. businesses to

sell in china. it is not to sell here where amazon is competing or walmart. it is to get businesses to sell to china. >> but there may be an opportunity to be buying businesses here that help them either get -- >> sure, absolutely. infrastructure. >> they may be doing some smaller deals. th they bought a company that's basically express shipping, two-day shipping. that's a stand-alone play. >> the notion of having to compete with amazon here in the united states seems, not misguided, but weird. >> stick to your knitting. yahoo! has traded a ridiculous amount of shares on friday and today. traded 100 million shares today. that's a lot of volume for that stock. over a two-day period it's probably traded a quarter of a billion shares of stock. big volume. down from 44 down to 38.5. we caution folks into the

alibaba report said take profits between $42 and $45 level. that's where it traded. i think you get back into yahoo now. >> for more on alibaba as well as yahoo! neil doshi. back on july the price of yahoo! was $25.61. it is a few bucks above that right now but you missed that tremendous rise in between ahead of the alibaba ipo. >> i feel like the right trade right now is -- i think -- i feel like this their is less opportunity to own alibaba through yahoo! since alibaba is now trading and over the next six months we'll see 17% of the shares come out of lockup so there will even be less of an opportunity. we have a fair value on yahoo!.

maybe you make a little bit of up side over the next six months but over the course of the year i think that trade starts to unwind. >> over the course of the year it starts to unwind. you're basically saying it is dead money to a loss for investors. >> yeah. marissa maher has made a lot of acquisiti acquisition, and we've seen none go positive. you have a core asset that's in decline. big trade has been to own yahoo! to be able to get into alibaba. my guess is a lot of people who got their allocations probably started selling off their yahoo! shares. i feel like that trade will start to unwind over the next year and it will be now an execution opportunity for yahoo!. so far they haven't proven that they can. i'm not sure that we'd be buyers. >> what's the next catalyst for alibaba at this point? >> i think one is going to be

their earnings report. secondly, we're going to hit singles day which i think happens later in the fourth quarter -- or in the december quarter. given all of the hype that we've seen around alibaba and all the free marketing that they've gotten around this ipo, this could be a very positive singles day for them. we have two potential nice catalysts coming up for the alibaba shares. >> last question -- do they need -- does alibaba need to compete in the united states? are you satisfied with an alibaba store that does not include a presence in the -- selling goods to the united states? >> i don't think that alibaba needs to sell into the united states. going against walmart and amazon i think is a death note for the company. but i think selling u.s. goods -- or enabling u.s. merchants to sell into china i think is a big opportunity. maybe acquiring companies to have them get that infrastructure i think would be a big opportunity for them. >> neil, thanks so much for joining us. we appreciate it.

pete, you've long said that a yahoo! would go to $50. november expiration calls is $50. >> i've been working on that for a while. that's a little bit of painful over the last couple days as that's gone down. i still think it this is a stock that at some point actually gets up towards $50. maybe that's sooner than people think. if alibaba is out there with all this cash and they want to buy something, what's wrong with buying yahoo!? there are tax reasons why they want to do this. they get the core business for almost nothing. >> because it is worth nothing. >> i don't think that it is worth nothing. a lot of people have said it is a negative. i don't really believe that. but besides that, they could spin off yahoo! japan to softbank. suddenly alibaba gets everything that they want. at stanford university business school, jack moss said how interested would you be in buying yahoo!? he said very interested. he just kept getting pressed.

a month and half, two months ago. at stanford business school, he said very interested. they would buy yahoo!. >> think of what that nothingness gets them in terms of proximity and access and a look-see into a lot of businesses. i'm with pete. i don't understand how we get into a place where downgrades are coming at a time when post-ipo, we own 15% of alibaba, the $275 billion market cap at 32 times 2016. that means basically right here without anything else, without yahoo! japan, this company is probably in the black. so it is puzzling to me that every analyst who's waiting for a valuation of alibaba. many of these guys had $140 billion. we have the valuation and we're post ipo and people are downgrading this stock. it makes no sense to me. >> what did you with your softbank? >> we sold some thursday and friday. i still have 40% left. which is very frustrating. the ipo valuation is much higher

than we had expected. however it was just by a giant rumor. sentiments change. when you think about what is it that alibaba would want to buy? actually nothing. they're sellers. they want to sell. they just sold a huge portion, $21 billion worth of stock. i think they could just sit on that cash for a while. >> what camp are you in, guy, when it comes to alibaba -- >> yelp's had a roller coaster this year. market cap $5.5 billion. but it does dominate the space for whatever you think about yelp. i'll never use it but it could be an interesting tuck-in type of deal for them. >> what's that mean? >> live in a cave. >> it is nothing against yelp per se. >> no. just me. >> i said a few year -- last year is when jack moss made those statements. that doesn't mean that anything's changed other than the fact that yahoo!'s now worth

more than it was a year ago when the stock price was lower. a record breaking weekend for apple in the books. how of longer can it keep up the momentum? later, jack moss says he loves forrest gump and looks to him for inspiration. jack, we hope you are listening because we will be joined by the oscar winning producer behind that film little bit later on. hi! can i help you? i'm looking for a phone plan. it has to be a great one, and i don't compromise. ok, how about 10 gigs of data to share, unlimited talk and text, and you can choose from 2 to 10 lines.

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can you start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid.

we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves. home builders got hit today.

existing home sales falling for the first time in five months in august down 1.8%. guy adami. >> that downgrade from credit suisse. i have not been a big fan of home builders. they haven't traded particularly well. i think home depot at 91.5 is a little bit dangerous. they had a nice bounce last week. i was surprised it got back above 90 but i think the space may be in trouble for the next couple weeks. if i had to do anything i would be taking profits and home depot and staying away from the home builders. >> do you agree in terms of home related retailsers? >> i like some of the derivative name. think lowe's can outperform home depot. had a lot of pushback today earlier talking about that one. i still like the whirlpool. if i'm going to call the ukra e ukraine, you got to say the whirlpool. yes, i still like the whirlpool to the up side as well. >> in some cases you have some

values, some of the smaller cap ones make sense to me. if we are in an environment where people are very much questioning where interest rates are, some of the fundamental drivers for these stocks will be put on hold. i would prefer to go downstream. if you look at wealth effect what people are feeling, he wants to sing a song right now so much about home builders. >> bed bath & beyond. that is related to the home builder trade. you're spot-on on home depot. >> thank you, karen. >> so sensitive. just like an orchid. like an orchid. sensitive. delicate. strong showing from apple. iphone 6 and 6-plus sales coming in at a record $10 million during its first weekend on sale to the public. >> it sure seems like it is the big screens that's driving a lot of this excitement.

everybody's excited just about the iphone 6 and some of what this phone is able to do. when these numbers are exsiding what everybody expected. the demand was there and the fact that the delayed launch for china. i look out and i see more and more catalysts out there. it is only 20 countries right now. 115 before the end of the year. china itself. that's another catalyst. is being received very, very well. better than i think anybody expected. >> it is interesting what the impact is on some of the memory chipmakers because it's because of the iphone of and 6-plus they are saying dram prices are going to be stable, sandisk and micron. >> if you look at iphone 6 and 6-plus and demand we've had, it already sets up nicely for the fourth quarter. the real key is the first quarter where seasonally you have a very difficult quarter. you have chinese new year and you have an opportunity actually

to see what's truly going on in that part of the world. i think they will surprise yet again. i am long apple. i will stay long. >> i am long apple. one reason, we are getting close to long-term gains which is important. we do care about taxes so i don't want to sell it yet. it is amazing, it does seem to be impervious to the makt, up or down, it is in its own story right now. >>ky ask you a question? if you think the stock can go down 10%, who cares -- >> i don't think it is going to go down 10%. let's say 5% or so? that's worth it to me. when the skoftcost is $500 and split is -- >> ct was up 1% today. i think it flushed everybody out. i think you get another run to the up side.

it could easily trade back to 13.5, 14. >> one of our traders is saying it is time to go short on gold. does dennis gartman agree? could the largers iphones mean the death of skinny jeans? jane wells explains like only she can later on in the show. the performance review.

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welcome back to "fast money." we are live at the nasdaq marketsite in times square. gold hitting a nine-month low overnight. how does dennis gartman feel about the move? he joins us live, next. plus, could the new larger iphone screens put an end to the skinny jeans trend? >> oh, no. >> jane, say it ain't so. jane wells reports later on. jack ma loves forrest gump. gold hovering near its lowest level in more than nine months. silver prices falling to a fresh four-year low amid continued strength from the dollar index which is up 6% this year. joining us, dennis gartman, editor of "the gartman letter." dennis, good to see you.

is there any reason at this point to own gold in dollar terms, let abclear. >> no, i really don't think there's any great need to own gold in dollar terms. if you're fearful about inflation, you're wrong. grain prices are down. iron ore prices are down. crude oil prices are down. rubber prices are down. it is a deflationary environment. if you wish to own gold in dollar terls it is probably a very bad trade. it's been a bad trade, it is a bad trade now, probably will continue to be a bad trade. owning gold in non-u.s. dollar terms, loufr, in yen terms or euro terms has actually been okay. you are down 1% over the course of the last two or three years. whereas if you own gold in dollar terms you are down 35%. i just went to north carolina state. didn't go to harvard or yale, but even we know that only losing 1% is somewhat better than losing 35%. >> i believe that the position that you had on was gold in yen and euro terms, correct? >> yes. that is correct. >> that was an okay trade in

your view whereas gold in dollar terms has been a terrible trade, will probably continue to be a terrible trade. therefore, stis that a short? is that a better trade than being long gold in euro or yen terms -- >> i wish that i had been short in gold in dollar terms. it would have been an absolutely brilliant trade. but i am not that smart. i had wanted to own a bit of gold just predicated in a different currency. i'll leave it at that. i can understand why somebody would want to be short of gold. i wouldn't do it, not down here. being short of gold at $1,600 an ounce, at $1,400, at $1,500 was probably not a bad idea. but at $1,200, i'll let somebody else do it. >> i'm one of those guys. i think gold may go to $1,100. i think it gets you back to the beginning where you could see a normalized fed policy. i get back to a little bit of where melissa is. what sense does it make to be in a trade ultimately where i think there's probably a higher

probability of a losing outcome on either side? but more importantly, do i care about your view on the yen. this is something ultimately that is a big part of your view. yen last night kissed 109. this is possibly a risk factor to global markets if you believe there is systemic risk in the entire japanese economy. >> let's be honest, owning gold in yen terms has really become being a short yen trade. that's really what it has turned out to be. i didn't think that that's how to would evolve. i actually thought gold prices might actually go higher. yen would go weaker and both sides of the trade would work. it's turned out to really be nothing more than a short yen position. l let's be brutally honest. being long in gold in dollar terms would just be a waste of money. it is dead money. it is a waste of mental capital at this point. as we know, mental capital can be expended rather easily and you'd rather not do that. oak gold has been just a treacherous, boring, nasty trade

that just keeps losing money for anybody who buys it. there will be a time when inflationary pressures will once again exhibit themselves but that time is not now. all you have to do is look at what the grain markets are doing, rubber, tin, what crude oil is doing, is there an inflationary air out there? the answer is no. >> dennis, i have a feeling that you'll get an earful from the gold bugs out there. good to see you, dennis. >> the gold bugs do not like me, mel. so i bet i get to hear a good deal from then. >> thank you. dennis gartman of "the gartman letter." we mentioned china and the lack of a china put now that the chinese finance ministers have come out basically and said no more stimulus at this point. what's that mean for the copper trade and the oil trade given the continuing strength of the dollar, plus the chinese weakness now? >> it's lard to be long commodities right now. if the -- forget about all that stuff. as long as the dollar stays strong it is difficult to be long these commodities denominated in u.s. dollars. i think it does not all go

particularly well. that coupled with the fact that i don't think the economy is all that strong. those two factors together doesn't mean great things for copper. >> haven't seen much in miners. nobody's been bullish for a while. the only area where i've seen anything where folks have a little bit of excitement might be something like alcoa. it's pulled off the highs. people expect maybe a little bit of a bounce. time for pops an drops. activision down 1%. >> noriega suing activision. this destiny game has been a big disappointment. not nearly enough sales to have the stock price continue the run it's had. i think the stock trades below $20 and you buy it there. >> herballife finishing down for the day. rumor carl icahn is selling his stake dplp these ki

stake. >> these kind of rumors make no sense. carl icahn is likely an insider here. he probably can't sell stock. even if he did, if he sold more than 1%, we'd have to see it. so it just doesn't make sense. highly likely to be baloney. >> tata motors. upgrade from credit suisse. >> i think this as an opportunity to sell on a position i have had for a long time. they've done a great job of outperforming their peers. their move and the move of india is overdone. i think the dollar strength is also ahead wind for these guys. take some profits. >> for finish line down 40%. downgraded to equal weight. >> kept the price target at $34 a share. went to equal weight. this was not the downgrade that people oftentimes would say wow, they're really ganging up on the stock. they're not. they think maybe they are losing

a little bit of the share. i think if i put a gun to my head right now i'd rather be in footlocker than finish line. >> a german daredevil has set the world record for the longest high line walk, 735 feet. the record setting stroll occurred 656 feet above a dam in switzerland. james bond fans may recognize the dam. the record breaker was happy to be back on solid ground. >> what's your favorite james bond there, mel? >> sean connery. >> karen, you like the new guy. >> the new guy's fantastic. >> totes. >> yeah. daniel craig. let's get some unusual activity. this is a name you've been watching. >> it never comes up. travel centers america. this is all these little pit stops along the way throughout the united states.

very interesting to see. they never seem to have any option activity. only a $480 billion market cap but the october 12th call is extremely active. stock's been moving up toward are 52-week highs since may. not far off of those highs. if these october 12 1/2 calls that were bought today, 15 cents up to 30 cents, over 5,000 of these trading on the day, if those actually go and work, that means we're going to 52 had-week highs. >> when you look at all this and it hardly has any options, do you think m and a? >> it makes you start to at least put that in your mind. it is not a huge short position. you could say it is a shorts covering right now. that's not at all it. certainly interesting to see this kind of activity in something that really trades. jack ma divulged his love for the american classic forrest gump on friday. >> the hero i have is forrest gump. i did like that guy. i've been watching that movie for about ten times.

>> after the break, we talk to the oscar winning producer of forrest gump and karen's sister, wendy, straight ahead.

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alibaba founder and multi-billionaire, richest man in china, getting his inspiration from forrest gump. he talked about it on "squawk on the street." >> the hero i had was forrest gump. i really like that guy. ive avenue been watching that movie for about ten times. i watch movie before i came here. for coming to new york. no matter whatever changed, you are you. i'm still the guy 15 years ago. >> joining us now, oscar winning producer wendy finerman. she was behind forrest gump. thanks for phoning in. >> thank you for all of the attention the media's given us. spl what do you think it is about forrest gump that might resonate with an entrepreneur an

jack ma? >> i think that mr. ma has the ability to find needles in the haystack just like forest did. and synergy just like forrest did from owning a shrimp boat to become being the bubba gump maven of the restaurant business. so i think they both share an ability to find a diamond in the rough. >> so in terms of what this might do, it's amazing to think that forrest gump was first released 20 yearsing wit ago. in terms of what it might do now in china, was it ever big in china and do you think it will get a new life here in that country now? >> here's the interesting part. when the movie first came out in 1994 it did $330 million domestic. total. $677 million worldwide and it did $2.5 million in china.

so my answer is, i think there's hope for all of us that we're going to get a huge home video bump. >> and i'm curious, jack ma is obviously a huge fan of "forrest gump." he's seen it ten times. he's got a lot of money now, wendy. if he he called you saying i would love for you guys to do a sequel and i would love to finance it, what would you tell him? >> first i would say he needs to talk to paramount first. but more important than that, all of us in the forrest gump family from tom hanks and all the stars have really kind of come to peace with the final journey that forrest has chosen. but i would be happy to say that i would be more than willing to sit down and talk to him about producing his story, because i think his journey is as unbelievable, as forrest's was. so have him give me a call. you know? >> i will try my best to connect

you to china's richest man, wendy. thanks so much for phoning in. >> have fun with my sister. if that's amazing. jack ma, if you're listening, wendy finerman, academy award winning producer of "forrest gump," wants to produce your story zbrp that's story. that's amazing. 2 $1/2 million in china. >> that's the amount that they saw. the rest of it was pirated. >> oh! sorry. what a strange thing to say. >> wow. wow. wow. i'm going to move on now. apple comes out of the gate with a record number of iphones sold in the first weekend but cot bigger phones cause a fashion emergency? what it might mean for skinny jeans and manpurses after the break.

big day? ah, the usual.

moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern.

larger screen smartphones like the iphone 6 and 6 plus hitting the market. one report suggests consumers may start dumping skinny jeans in favor of ones with bigger pockets. cnbc's jane wells is live from

los angeles with the skinny on this, jane. >> reporter: well, yeah, they need to come up with an app to make a big phone look small in your pocket. listen to this. jean sales last year fell 6%. they fell. now they're saying technology could get rid of the controversial skinny jeans. this technology. okay? this is an apple iphone 5. then behind it i got my samsung gala galaxy. behind that is a new iphone 6-plus -- it's actually a mock-up because i'm not hip enough to have one. speaking of hicps, while these fit nicely, the galaxy, the iphone 5. this, if you try to put that in there, it may be a little big. here's the potential solution. put it in the cargo pants. see? wow. now look at the video. cargo pants. and jogging pants may be new trends to watch. the loose-fitting pants.

teen retail says cargos are still more expensive than khakis and chinos and for women they can be harding to find, though ralph lauren is debuing some in his collection this year. >> i knew it was going to be bigger but not this big. >> i didn't think it was an issue because i'm used to this size right here and it fits perfectly in the pocket. even though it might and little bit bigger, i can just still put it in my purse. >> you have to have bigger pants or bigger shorts for it to fit comfortably where it doesn't feel tight. >> for people like me that wear skinny jeans, adds a little package. you know? >> reporter: lot of potential solutions, maybe bigger internal pockets in a hoodie. or bring back the man purse. or with the current trend of men with beards, maybe you can somehow hide it in the beard. call it the i-beard. go dodgers. >> that's disgusting, jane. . keep your device in your beard

like it's a bird's nest, holds small animals? dp . >> i don't get the beard thing with guys anyway. if you can have all that food in there -- >> jane wells, thank you. good point by tim -- if you stuff the phone in your beard, it would get really hot. >> skinny jeans. tonight when we started talking about skinny jeans, everybody looked down at their pants to see what kind of goofny pants they have on. pants with the side pockets, couple of people might have been guilty. we talk about the jeans that are probably plain pockets or jcpenney version. i don't know. >> so skinny jeans are out and cargo pants are in and it is really hard to trade cargo pants. but can a man's purse make a comeback -- >> no. >> you turn to a guy for that question? >> wait a second. i'm not an in-house expert on murses. no. i have my own pinterest page.

if you walk around with a murse, you need to reexamine every fiber of your being. you know who you are. >> absolutely no to the above. i do know -- >> you like cargo pants. >> coach is actually -- some of these different folks are trying to get more and more into the male world of different things, including the man purse. >> on coach. your thoughts. >> on coach? well, they could come up with a little, i'm sure, iphone 6 purse. but maybe this is good for denim. it will reinvigorate somehow. it's been slow. maybe they need a whole new -- maybe cargo is it. >> i'm not a cargo guy. >> cargo pants are fine. don't feel so bad. >> okay, mr. cargo. gold miners selling off today. >> a lot of materials names were

seeing above average activity today, specifically in the puts. freepo freeport mcmoran. buyers making bearish bets freeport can be down more than 10% by november expiration which will capture the next earnings which comes in october. despite all the punishment the stock has seen, see more ahead. >> it's a very difficult time for miners though i think you start to get some value. last night steel rebar prices hit all-time lows. 52-week lows on iron ore. i think you are very careful here. i think diversified miners and those exposed to metals like alcoa makes sense. >> catch more options action. our thanks to mike coe. next up on "mad money,"

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time for the final trades. let's go around the horn. >> selling out of big cap india was ttm. i think it is a good place to fade. >> pete najarian. >> we had that unusual activity in the travel centers america. i sort of think there's something to this. think this is a stock you want to buy. >> karen finerman. >> still like the big caps over small caps and a big cap would be macy's. i really like it. >> guy. >> wendy finerman, she's something. >> she's a bad ass in hollywood! >> whoa! whoa! >> she really is. she's a bad ass. >> whoa. >> say it again. >> adoe by. they reported last week the stock obviously got washed out. i think it did wash out. you've seen this a number of times in this stock. they report the numbers, sell the stock off.

within a week or two it is subsequently higher. adoe by traded higher today. >> i really hope jack ma calls her. i'm melissa lee. thanks for watching. "mad money" with jim cramer starts right now. "mad money,"j crepeser starts right now. \s. my mission is simp -- 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. holy cow! they clobbered the darnell thing, with the dow sinking 107 points.