♪ and welcome to squawk alley. joining us kayla, john fort is off today. he picked a nice day to do it too. a volatile day for the markets. markets are mixed. dow is up about 17. s&p is still negative by about 6 points. nasdaq off the lows but by far the biggest loser of the week. down more than 3%. on track for the worst week since may 2012.

microchip technologies. double digit declines. and a lot of the momentum names getting hit hard too. of course some of those have had a pretty good year so far. jim la cam pa senior vice president of investment at ubs here to shine light on that this morning. good to see you. >> good to see you too. >> feels like people want a washout or they want ten to one negative volume once again. why aren't we getting that now? >> we'll had a few exchangelatiexchang kah pitulation dates in here. and and we've had support around this level. but look investors shouldn't panic now. interest rates have stayed very low. and interest rates have remained low and they don't look to be going higher any time soon.

and earnings are going to be okay here. about 6% plus. so when you compare that earnings yield to interest rates, you get a good look for the stock market. finally it is still global. and this is a race of nags. one of the economies are doing all that well but u.s. is the least slow in the race. so there is a lot of money flowing back to the u.s. here. >> that said we are ramping up earnings season. not that many data points yet. but blending revenue growth so far up 4%. there are a lot of critics who start to say we see the larger cap names report they are going to show weak growth in europe and especially emerging markets and that could bring larger cap names down that have long been the safe havens as the others retreated. so what are you watching for specifically in the market breakdown over the course of the next week even if long term you are bullish? >> well that is a very good

question kayla. that is not even many i concern. europe's been lousy for a long time first of all. we do more business with canada and mexico than in europe. it is not as big a trading partner as it used to be. so i think this notion that it is really going to hit our international revenues is a little too much. now what i am concerned about is that expectations for fourth quarter earnings are 11%. they haven't been guided down lower yet and i think they are going to be. as these companies report you are going to have guidance that is really not that great moving forward. let me be clear too on something else. we are bullish but we don't think it is going to be easy and we don't think we are going to have this great push. we think equities are going to move higher because money has to find a place to go and the stock market is still more attractive than these other areas but it's going to be difficult and choppy moving forward i think. and we have the election. and historically where you have

an unpopular incumbent the markets move out in front of that and they move higher. i this i we'll see some of that many thont. >> and how hedge funds are driving this action. we know a large percentage of the managers were underperforming the benchmarks to begin with. and 23 if you gambled on energy the end of the third quarter you are getting killed. what is wrong with taking your gains, locking in your gains for the year on a name like micron? >> oh i think we are seeing some of that happen too carl. and there is no question active management has really underperformed and as that goes on and on. active management has underperformed the last three years. hedge funds, active mutual fund manager. they have all underperformed. so as that tends to accelerate, the phenomena, people take bigger actions. more aggressive, taking bigger positions and maybe overweighting a hot group like energy. and then what happens is it

starts to turn the wrong way and you get everybody exiting at once. so maybe some of these energy names t high flying multiple names are more volatile than they otherwise would be because people are trying to play catch up to the market. >> yeah it was a bull case for a long time but we'll see whether or not it turns into the inverse and fore selling down the road. jim, thanks. peek speaking of the market, a half hour from the european close. and all the volatility has been contributed how it changes the pligs of buyers and sellers. >> we did got confirmation from the ecb that the results of europen bank stress tests come out sunday october 26th. that is going a key event for people watching for a barometer ore of the overall health of assets in europe. that's really important for people invested abroad and that just game out this morning.

>> then there is karma this morning. it can come back and it is not always nice. that is the lesson that the kara swisher says satya nadella is learning after his apology that women accept good pay for the sake of quote good karma. >> car kara you waste nod time writing this about yesterday afternoon. >> he said something really stupid. he's major tech figure. his dogma ate our karma i guess. i don't know what to say. it was a 45 minute interview and most was fine but he managed in front of the worst possible audience which is the very prominent women in tech. and interviewed by one of the most prominent, also on the microsoft board, just a disaster really. >> a lot of people this morning he came out and said i was inarticulate. i answered that question completely wrong. others say it was such a well-formed view that you almost

have to believe that he actually does believe this. what do you think? >> i think it does come from truth. i think satya is a terrific guy and i think he's trying like most men to think about that he has issues and he's been at a company largely run by men. mostly men in power. and i think it is a function of that. is that they are not thinking hard enough. now there is another argument to be made that if people aren't allowed to articulate these things and they get so pillarry for it how are the men that really want to change things going to change things? they feel they always have to be on guard. and that said how do you get these ideas o out of their head, the dogmas really how women should act. >> and microsoft one of the last tech companies to release dwe s diversity numbers and on the face they look like they have roughly the same gender breakdown as other companies but the leadership, only 17% is

female. 30% of the overall employees. and i just wonder if you think that maybe microsoft needs to overcompensate from some of that, given now the perspective that we've seen from the top. >> i'd like to say it's generational and this is the way it's been and it is going to change. but we just did stories on the gaming industry and got like attacked by people. i had a e-mail that said our website was gien clojly centerecenter ed. at the same time it's just enough of this. you have to change things. when he went to that audience, probably what he should have said is i want to hire every one of you. you are women in tech, you are prominent. i want to integrate more. i want to do equal pay for equal work. the audience was particularly

interesting, that he wasn't prepared and maybe he went off script for a second. >> he did say our industry must close the gender pay gap. >> yes. >> what do you think a short-term step would look like in the path of a solution. >> maybe do a real look at the pay gaps and see if that is the case and correct them rather loudly. i think probably that. probably do a lot more hiring of women. this karma is going to have to be paid back for a while. and again, satya is a really thoughtful person. that said there's been a lot of women that have left right after he got the job. some very prominent women at microsoft. and so, you know, you wonder. and i've heard from lots of women that it was very difficult to be in that sort of boys club there. i heard it a number of times. but i hear it all the time t every company. it is not just microsoft, google. >> how would you feel to be a come woem coming up on the end

of the year going into a annual review with top executives. >> well i'd ask for a raise and i'd get it i guess. every woman at microsoft should ask for a raise immediately. ask now. it's probably going to happen. >> i said this morning he's paying for it. talked about all across mainstream media. >> as the big issue. >> thanks kara. when come back tesla officially unveiling the d. what you need to know and why the stock is down. and cloud storage, when is company box going to go public? and dave and busters opening higher after its nasdaq debut. we'll talk to the ceo in a moment and we're still keeping our eye on the nasdaq down not quite 48. more squawk alley in a minute. yo, bro, you on woo-woo? are you kidding me? everybody's on woo-woo!

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after much fanfare tesla did officially unveil the d at an event last night. investors though aren't too impressed. stocks down this morning. jane was at the event and joins us live with details. >> the stock market must have been able to sense one of those speed limit signs to slow down. maybe that is what's going on. quote this a car is nuts says musk. 0-60 in 3.2 seconds which with

all wheel drive. which we got a good look at it. >> let's release the titan. >> the d stands for dual motors and all wheel drive and makes the car more attractive to drivers dealing with a all types of weather. it goes faster, has a longer range and quicker acceleration and it will reportedly sell for starting at 120 grand. >> we are going to have an option in the option selection. you will be able to choose three settings, normal sport and insane. it will actually say insane. >> the new d comes with automation software. automatic lane changing. senses pedestrians. musk said eventually the car will be able to open the garage door and park itself and you will be able to, quote, fetch it. >> i knew it was going to be

fast but then literally shot you back in your sheet. it was amazing. >> smooth? >> completely. the seat was really comfortable. not like you hurt yourself. but it was just thrilling. >> that was a friendly crowd. musk said this is automated driving. not autonomous. he said you won't be able to fall sleep at the wheel and arrive at your destination. at least not yet. >> looks like a fun event. certainly a newsy one at that. meanwhile an update on the cloudy ipo we've been reporting on for a month or so. that is box. and this week the company's board member, advisers, executives have officially decided to delay until january. last week there were some speculation that it could be delayed and i was told the decision was yet to be made and market conditions would be the reason for that. i'm told that was formalized in

conversations with board members and company advisers this week. of course the reasons we previously reported on. the company did raise 150 million for private equity firm and bought box some time. and market volatility has been front and center and that looks to be if norm for the near term. the company for its part. its official line saying nothing has changed as always. investing in customers, technology and future growth remains top priority. but if you look at the companies that did go public this week so far you are not seeing any sort of trend in terms of performance there. hub spot was the one that got the most attention. it was up yesterday. now it's down about 9 and a half%. so and not to belabor any one

company. we do cover box a lot but really because it is one of the only companies of a certain size and valuation in a sector that's been highly valued that i think a lot of people in the market as the precursor. >> i love the piece this week in the journal about 49 companies with billion dollar plus valuations and no rush to go public because they have enough cash to burn for the next couple years. >> and it seems that as far as we're seeing with valuations down in the public market, it takes a bay while for that thinking to flow through to the public market. of course it won't last forever but at least it is the case for now. dave and busters is in play today though. the entertainment chain finally debuting under the ticker symbol

play. and joining us is the ceo stephen king. >> thanks for having me. >> why now? why is third time the charm. >> i think the third time is a charm for us because really everything is better since the last time we came to the market. our overall business is much larger. -- up substantially 30%. com stores are really strong. and pipeline for new growth is really an track and well established. >> walk us through, stephen, the trajectory for growth. some analysts say you could expand to some 200 locations at some point down the line. that would be more than double what you currently have. so how do you see expansion taking place both here in the

u.s. and potentially outside the u.s.? >> we believe we can do more than 200 united states in the united states and canada alone and really have vehicles that will enable us to penetrate some market wes don't exist in already like seattle and portland and tampa. and a smaller prototype that will enable us to go into smaller cities as well. the combination of those really enables us to get to that 200 level. in addition we've started discussions with international partners that we feel very good about. and we think we'll have somebody that we can sign up between now and the end of the year to be a partner. >> steve, just wondering, since the last time you were public gaming as changed. the experience at home is a lot different. it's tougher to argue for an arcade. and things like bowling alleys are hugely challenged in this country. do you get sense that it is

going to be a tougher slog to expand in in the u.s. >> not at all. i think we're riding a the wave right now in gaming. console gaming or on your phone gaming and we are able to make it kind of bigger and more exciting and more dynamic than anything you can do in your home. and in addition about 79% of our revenue is done on what we call redemption. so those games that issue tickets and enable you to win prizes. and we think that is a big element of what will continue to make our model more successful model. >> and gaming stephen, just one element of your model. you are also exposed to real estate and commodity prices a as restaurant and of course consumer spending on entertainment and food outside the home. is there any one of those variables that you think could be a risk in the near term given where we are in the cycle? >> one thing that inflates us quite nicely from things like commodity pressure is we have

over 50 percent of the business comes from the aamusement side. less than 9% of our revenues is coming from food. that insulatesis quite nicely from commodity spikes other restaurants might experience. also the ability to blend in amusement costs with the food and bempverage costs have enabl us to be stable in gross margin. >> stephen, will you be celebrating the ipo at a dave and buster tonight? >> i'll be celebrating at a dave and busters in just a couple of hours personally. >> stock is up more than 10% at that hour. congratulations. >> thank you very much. >> on the ipo. meanwhile a check on the markets. just about two hours after they hope, still maxed. dow up 11 points. s&p 1921.

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welcome back to squawk alley. chip stocks getting a great deal of negative attention today. it all started late yesterday on a sales warning from chip maker microchip technology. that company saying results seemed to indicate a correction in the semi-conductor industry. that's a warning investors are taking seriously today. other chip stocks are trading. intel, texas sbrumt sbrumts it't

second degree sbrumt tab instrument. >> bear in mind that the bulk of the lot that we had in this country yesterday came after europe shut down. so they are playing catchup. but it is the third week of declines. and it is a very broad based move. about 94% of the top stocks are lower. the some indices has done worse. in addition to island what's happening in norway which is very oil-related, they have been hit quite bad overall. obviously the major event this week is the pushback by the germans. it started monday. and then this guy t german finance minister of the imf meeting. suggesting a 45% chance of recession. but wolf gang was having none oothat.

we don't have a recession in germany. we have a weakening of growth. we have to become stronger. we have to deliver more growth. i agree 100% but it is not achieved by writing checks. the third german to congresswom come out against qe is axle. he's suggesting you don't understand what is going on in germany. we have 1.4% of gdp in exports to russia and that declined. so it is more structural is what they are arguing. and gavin davis writes in london is suggesting the ecb could still have sovereign qe but there would be splits as a result. overall --. last 12%. and this is the week it fell below 9,000.

into the fray. we now know on october 26th in two weeks we'll get the results of the stress tests on the euro zoneba banks. >> thanks. when we come back. google and apple are missing the mark when it comes to wearable technology. so says nick bilton. and one at one point steven sosnovskiy was considered next in live. s&p, 1920. not quite session lows. back in a minute work with equity experts who work with regional experts that's when expertise happens. mfs. because there is no expertise without collaboration. revolutionary by every standard. and that became our passion. to always build something better, airplanes that fly cleaner and farther on less fuel.

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. could tech giants apple, google and samsung have it wrong when it comes to the future of wearable technology? while battling over your wrist, face and fabrics a new crop of start-ups are betting the future could look something closer to a temporary tattoo. nick joins us the to talk about it. >> good to talk to you. >> sounds like a notion of a watch. kind of the prosic. what are you talking about here. >> a couple of concepts. one is essentially like a band-aid that is a little computer. antenna chips and batteries a all these things. the concept is that let's say

you are a runner. you could slap them on wrists and ankles and go for a run. and at the end you get a reading, a pretty accurate reading of the exercise you have done. the other. >> looking at video by the way of a baby. another possibility is you monitor your kids breathing. >> yeah. the other is the healths perc a. with alzheimer'sfacie patients all these different things. and then the other angle which is essentially the fashion angle. the wearable tattoos come in. the whole thing is a little scary but also fascinating. >> one element that we need a bridge between technologies we have and technologies of the future to make the leap from a an iphone to a band-aid that tracks health information. a lot of we'll would want something in between because the behaviors aren't quite there yet. would you agree with that? >> i would and i wouldn't. it's interesting. when you look at the wearables,

you are asking the next generation to put something on their wrist this they have done before. there was a study a couple years ago by a bunch of universities where they found when i up through a university student and went like this and pointing to your wrist the student was what are you doing? i don't understand. we understand you are asking for the time but they have never had do that. so apple and google are saying hey we want you to put something on your wrist and i think you are asking the generation do something they have never done. if you ask them to put on a temporary too ta as to there is a better channels of that. >> the big teches are working on something like this in some form of fashion. >> i can imagine google, not necessarily apple. i think what i believe may happen is i think you will have a transition where you have certain people that buy the

wearables like the watches and glasses but the next generation is really going to be the deciding factor for what the businesses have to follow. and i think you could have an opportunity here where a start-up could really disrupt a google or an apple or a microsoft in this case. >> for some of these technologies, nick, the technology isn't cheap. but are they disposable? something like a sticker do you take it off and throw it away? how does that work. >> disposables and rechargeables. the cell phone will be the power adapter. the new iphone has nfc which is used for apple pay. and it sends a slight little electronic signal when you pay for something. so what the researchers have found is take your iphone and rub it up against a sticker it can send just enough power and send something back. in that way.

and some will be disposable for sports and health and things like that. >> if we had trouble getting over google glass and the notion that you look funny wearing these glasses. these are literally creeping on to your skin. isn't blow back on that. >> i think the reason people have this problem with google glass is it is this thing that's staring at you. i looks very strange. the beauty of the wearables and the detachable computer is that is not the case. they took a of their skin and had temporary tattoos made and put them on so you couldn't even see the wearables. and that is very exciting for a lot of consumers. the next generation this, whole idea of the tattoo like things. i can see kids, you know, i want my wearable to be seen. i want it to be look like a

pirate or tribal tattoo or something. and we don't know what is going to work or not yet. >> i have seen analyst notes forecasting watch sales for apple says it is going to be underwhelming at least in year one. sound like you think that wouldn't be a terrible surprise. >> i don't think so. in if you look at what generations are doing now. we talk about men stream media and television and things like that the next generation is talk about the snap chat and other things that we don't on a daily base. and the same is true for wearables, i think. i think there will be someone that will come along and target the 14 to 21-year-olds that will come up with a something like a sticker. maybe a pill you swallow. i've written about that before and i think that is what the next jang is going to glam on

to. >> nick bilton from the "new york times." >> we're keeping our eye on the nasd nasdaq. it's 1 1/4%. worst week in 2 and a half years. morgan brendan is at the nasdaq to tell us what's going on. >> you are right. another tough day for the nasdaq composite and really a lot of the losses being led by the sum conductor space. microchip. a semi conductor stock that warned on revenue last night siting weak demand in china. take a look at these etfs. both down more than 5% this week. and fuelling global growth fears not good for the broad market picture and i specially not good for intel which is reporting earnings next tuesday. so that stock down as well.

and -- momentum stocks like tesla go pro and netflix hit today as well. global x. socl. and traders say this is a risk off trade that we're seeing moving into the perceived safe haven stocks. all sectors we're seeing outperform today. the one bright spot is apple. that is outperforming. it is in the green up slightly about a third of a percent. >> when we come back, continuing to keep an eye on the nasdaq with the chip stocks dragging it down. nasdaq on track for its worst week since may 2012. but first rick santelli. >> there are so many ways to slice and dice what is going on. so many fundamentals to look at. so many variable, aus austerity.

but in the end it is about one thing. the relationship between all the major global equity markets and their sovereign debt and that is what we're going to talk about after the break. that's right. it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees, from the bank where no branches equals great rates. ♪

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so i can reach ally bank 24/7, but there are24/7branches? it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates. at the top of the hour from right here at the new york stock exchange, the dow's moved 2,000 points in the past seven sessions alone and with stocks now on track for their worst

week since august, how deep will the correction be? we'll ask the traders and btig's dan greenhouse. and chips getting hammered today what. dues pete najarian think about that area now? and all of today's big movers as well from post nine. see you in just a bit. >> sounds good, scott. in the meantime over the dominick chu and a market flash. >> technologywise, gt advanced technologies the stock is plummeting on report it will exit the sapphire glass manufacturing business. the company supplied that to apple for the glass on its particular iphones and what not but made the decision after apple decided not to use it on its iphone 6. gt now has a cap of -- after filing for bankruptcy.

>> even apple is saying it was surprised by that move. thanks dom. apple pay will be released november 7th. the banks involved will also shoulder any fraud liability should it take place in the apple system. now apple's lead designer also offering comments on what he calls theft. at vanity fair's vent in san francisco. he called copy cat products simple theft. the last thing i think is oh that's flattering. all those weekends i could have been home with my family. i think it's theft it's lazy. i don't think it's okay at all. pretty strong words. we haven't quite seen a close imitation of the apple watch yet but there are certainly those

trying to build one. >> thermal nuclear war. the theft of the ipod or the phone. >> and before we even get the product many our hands. >> let's check in with rick santelli. >> happy friday. well it isn't necessarily a happy friday for everybody. and listen i'm a market guy. and many market people are first technicians then follow fundamentals. why? because the amount of fundamentals that pass through if you monitor many countries which you need do in this globalized world we live in, well you will be phone book size. . and many people think charts are voodoo and i can't tell you how many times the famous line is spoken "every sink that's sunk in the ocean has a room a chart room and there are still charts in it as they rest to be bottom." i get that. but it's about behavior and

relationships in markets. think all the algorithmic traders. pattern recognition. the repetitive nature of human nature translated into how they invest. think about retail. historically they like to be buyers at the top and sellers at the bottom. this isn't unique. it is repetitive. happens time and again in markets so to that end let's cut through the phone book and let's look at a record of exactly what is going on. and remember this record is the same for everybody. nobody can dismiss it. a close in europe can't be changed or altered. here are four charts and i want them to run through fast. starting august 1st. fist is the s&p 500. then the dax, then the cac, the french stock market. and the hang sang, hong kong. if you look they are not all the same but i challenge any of you out there to think that the equity markets aren't all moving in the same direction. and while that is happening what are the sovereign paper of each

country doing. they are not all the same speed. the net speed of the stock markets aren't the same. but the pattern and dealing with the behavior as the pattern unfolds. lower interest rates dropping equity. opportunity for the --. sovereign debt markets is a weakened equity market. why is this important? i'll tell you why. because germany is really viewed by many as the rich uncle that continues to write checks for rest of europe so the issue is whether merkel and the bun disbank and all the guys in germany will write the checks. i can't tell you. but it could decide the membership of the euro zone down the road. at some point they are going to run out of other people's money. and say anything you want but living within your means is something we need to consider in a world with a structural problem called rising debt. back to you. >> thanks rick.

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creating tech products for your pocket went head to head this week. chargerito claims to be the worlds smallest phone charger. and battled out with findster. locating everything from pets to children. with 54% of the vote chargerito has become the latest leader. congratulations to that company. meanwhile consumers often turn to start-ups for the next big thing. but who does silicon valley turn to. our next guest is a reddit of sorts for start-up, cataloging companies on the brink of breaking out. gentlemen, good morning and thanks for joining us. >> good morning. >> good morning. >> ryan, we tend to describe these companies in terms we already know. a so reddit for start-ups. a leader board a catalog.

what is product hunt? and what does it actually do. >> it's an accurate description. link to products. mobile app, sites and hardware projects and inside the community people up load the best stuff they think is most interesting. >> it's interface and you saw a value to plug 6.1 million into it in part from andreessen horowitz. is this a product that is going to occupy a niche for --. >> well it already had a broader impact across the tech industry. every morning people just wake up first thing, check the mail, check and see what is new. it really adds a level of excitement, of input of community that we find incredibly special and particularly with founders like ryan. >> ryan, give us a good example of it a company under the radar

until you found them and then they started getting discussed by a very broad audience. there a classic tale. >> several stories. one called kindly i'm particularly fond of. they launched on product hunt. a mobile app where people can anonymously talk o other people about their problems. business life, personal issue, relationship challenges and they launched on product hunt. got to the top and got press through reporters that use product hunt and now they are raising a the seed round. >> is there ever a worry you are basically just giving a list of ideas to a bunch of other tech companies with unlimited prujts to build new products and experiment. >> a lot of people use it for inspiration. we have a lot of marketers to engineers to designers using product hunt for ideas and another a lot of times those ideas might inspire something they can use in our own product. and as a result it's's inspiring people to create. >> steve, while we have you here

there was a lot of news in the last day about comments that microsoft ceo satya nadella made about whether you should be asking for a raise. what did you make of those comments. >> well, you know, satya is an credibly thoughtful leader and he's going a great job i'm sure he's going to have more to say and really it is for him to work through. >> the response we gave after the backlash where he said i was inarticulate, i gave the wrong answer. do you think that is sufficient enough? >> it's up to him and his views to decide what is going to be sufficient or not. i think a lot of people have a lot of opinions. and i know it is an issue i feel strongly about. and i'm sure he's going to have something else to say. >> ryan, i wonder how much of the discussion on product hunt involves not just the next big thing but also the broader conversation we have all the time and that is about valuation, specifically about

start-ups and venture capital. cash burn rates kosmt those get addressed? >> most people are focussing on the products themselves with the creators, the founders of the product. so it's less focused on the broader discussion of the valuations and things like that and more focussed on what people are creating. >> do you think that changes over time stooe? >> no i think what's so fascinating, unique about the product hunt community is it's people passionate about products and wha that is what people most care about. and they are there to talk about products and making products and interacting with the people who made them. >> and people have been looking for a respite and something other than stocks to talk about and we had fun with marc andreessen and carl icahn. here is the new york post. they paint icahn literally as a captain kirk. and what is going on and does andreessen have a response to the kas nova rar remark? >> i'm going to have to pass on

comments. i haven't seen the post. >> we love a good spat back and forth. you know that about television. guys thank you so much. >> thank you. >> fascinating. we'll keep our eye on you too ryan. we'll keep an eye on the markets and talk more about the nasdaq which continues to take it on the chin today, down 43 points. get to the terminal across town. are all the green lights you? no. it's called grid iq. the 4:51 is leaving at 4:51. ♪ they cut the power. it'll fix itself. power's back on. quick thinking traffic lights and self correcting power grids

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you're shopping for something great. learn more at buypowercard.com from facebook friend to lender. according do a report by the information facebook's in talks with peer to peer lending services including lending club and prosper about trying to get facebook users loans through the social network. sources say conversations began months ago but we are still in the earth staly stages. >> we expect wbox is going to happen before the end of the year. -- 250 r -- that is a space heating up but it is interesting

because people talk about how we're going to come to a day when your friends are going to determine your credit worthiness. >> great. >> and this would be a move that would seem in that direction. >> socialization of finance. in the meantime close eye on the markets. the nasdaq has become somewhat of a specific sector story that the dwiens from microchip has become so bad. but in general people all night long were talking about let's revisit that 200 day around 19034. ten to one negative volume. resisting so far. >> and it's given some companies that have announced moves not as much a positive move as they would deserve. symantec one. >> and i was surprised apple we talked about the lack of an icahn squeeze yesterday. actually a couple days of the good performance. not two far from the 52 week

high. >> and black stone. cramer this morning saying he doesn't believe that stock is you have as much it it should be but this is a water shed moment for that company. >> cashin would say uncertain authorize, weak thursday, uncertain friday means a bad monday but we'll have to wait. to the judge and the half at post nine. >> live from post nine. let's meet the starting lineup. stephen weiss is managing partner of the short hills capital. pete and johna jarn co-founders of the option monster. and we begin today with stocks on trade for their worst week since the beginning of the august. amid fierce ears of a global ec slow down. in fact the dow has moved nearly 2,000 points in the past seven trading sessions alone.