goldman sachs today from b of a. in terms of trading, i'll be curious to see if there's more color in the coming days out of some of the other banks. >> good stuff, guys. >> good fun. that does it for us on "the "closing bell."" >> "fast money" starts right now. take it away. >> "fast money" starts now, live from the nasdaq market site in new york's time square. melissa lee will be joining us in a little bit from las vegas where she spoke with billionaire investor mark cuban, and she actually got him to play the "fast money" favorite, "would you rather," yahoo or google, twitter or facebook, amazon or alibaba. his picks are coming up. our traders, steve grasso, brian kelly, karen finerman, and guy adami. major swings in the market. first in shanghai, china's stock market suffering the biggest loss. greece falling 13%, and then the u.s., it was on track for an ugly day before a big midday

comeback. could there be bigger ripple effects in the u.s. market soon? here we were thinking the u.s. was an island of prosperity away from the global storm. >> right. >> we got caught up in it. >> we did today. the u.s. has been what everybody's called this fortress u.s. whatever, you want to call it. the u.s. has been the recipient of global capital flows. and it looks like today we wore the same thing in the afternoon. how they're really starting this time. this time they're serious about doing qe. u.s. markets seemed to rally. if you look at the other markets, they didn't so much. you saw the dax not rally all that much at the end of the day, the euro did not sell off as you think it would. so to me, what that shows is all the global capital is flowing into the u.s. so you need to watch other markets to determine whether or not capital's coming in or out of this country. >> certainly flowing into u.s. bonds. new lows for the ten-year yield.

guy adami, victory lap. >> no victory laps. and i think those yields continue to go lower. nothing for the broader u.s. equity market. i think at some point they decouple. and i think they'll decouple in the form of equities. it's all systems go. i thought the most interesting move was the reversal on the russell today. closed higher by about 1.7% north of 118. it still needs to close above 121 in my opinion for this to break out. i thought the move was impressive. >> doesn't that tell you, doesn't that speak to the rotation that you're seeing within a lot of these different sectors. you see apple selling off, you see a lot of tech selling off. you see energy. energy popped today. that was interesting. that caused a lot of people to get worried off of the opec meeting, off of thanksgiving. but if you look at this as a whole, people are rotating out of those energy -- recovering, for that matter, into year end. what's real buying, what's not real buying? i think it's a little suspect that utilities are so strong.

>> i thought -- >> on your point, i thought oil was really important today. because it is really been leading the market down, even though we talk about it being great for consumers and all of that, there's a lot of fear surrounding what is does the economy look like with oil here? what kind of production do we stop? and so, i think to have it stabilize a little bit was really good thing. you saw the osx, which has just been obliterated, having a very good day. that to me was maybe more important than whether it was -- >> is there a discernible correlation right now between the s&p 500 and the price of oil? seems like we blame it when it goes up and we blame it when it goes down. >> guy, you take it. >> well, historically, brian l sullivan put out a great chart. correlates the dow 30 and the oil price, and they've been spot on until recently. and they've completely now de-coupled. but you wonder if it's just gotten ahead of itself, the oil market and if the s&p's going to

catch up. look at the chart that brian's put out today. >> people were looking at the divergence and saying that was the reason why oil should catch up. why energy should catch up. we actually saw it get exacerbated, that move, that clear divergence we're looking at. the sle, down 11% year-to-date, but it's only saved by the top three names. exxon mobil, chevron. i don't think those are the upstream names, the one they got smacked, and now you're looking at maybe midstream should be the next thing. and refiners are not immune to this. crack spreads are collapsing here, so you could see this still ripple through. >> i love -- i love it when we talk about crack spreads. no, i was wondering, just to move this ball forward a little bit. does all of this eke wweakness it less certain we're going to have the santa claus rally or the strength into year end that so many people expected, karen? >> well, i don't know what to make of it. i'm sort of confused by it. it's hard for me to get a sense of direction. osx just to add one more point, down 26, almost 27% for the year. that's gigantic.

so i think we're not going to get a big rally until we see some stabilization in oil. >> bk, you were going to say something? >> yeah, when you look at the long-term correlation, it's correlated highly with global gdp, or demand is, and we saw today from the u.s. energy information association come out with a cut in their demand forecast for 2015. so they're still looking for an increase, but they're talking about 240,000 barrels a day. for me, the story in oil is a story of a slowing global economy. but that has meant so far, and this goes to the chart that guy was talking about that all the capital in the world has come into the u.s. and that's why the dow's gone higher, why you see the russell going higher and bonds going higher at the same time. >> amid this entire market global selloff we saw, it is time to hit our chart of the day. this is a good one. it was the move in the japanese yen earlier today, absolutely crashing. b.k., you flagged this for us. at one point, the yen was so strong, it was the biggest move since back in june 2013.

>> it was, this was amazing. i know it doesn't look like much. but it was a 2.5% swing. >> it's amazing. >> when you're talking about currencies, i mean, multiply it by five or ten, and that's what you're going to get in the dow. you're talking about a 10% move in the dow is what you're going to get from the japanese yen. and the reason why i focus so much on this because i talked about those capital flows and you have the japanese pension fund as i already told you, they are going to be allocating money to the u.s., equities and bonds. so you'll see that show up first in the u.s. dollar japanese yen. and since they've said that, you've seen a tremendous correlation. you look at the chart of the u.s. dollar yen versus the s&p 500 since october. look how tight that is. >> that's strong. >> it's always generally somewhat correlated. but really since mid october when they've announced the news, you've had a tremendously tight correlation. that happened. >> that tells me that the market was overbought and the japanese yen is just a very crowded trade. squeezed out some of those long, dollar longs on yen today and

will continue to march higher. >> and i would caution not to read too much in the global economy, particularly on this. my point is since they're so highly correlated, we have a market that is have moved so fast, so high that when you see something unwind like that, you could get a temporary dislocation of the u.s. stock market. >> do you think the only reason you would focus on this because you play the trombone, as well, in high school? >> no, because i focus on it, too. >> if i -- >> the oboe or something. >> bank of america and citigroup warning on fourth quarter trading revenue losses. that news weighing on the entire financial sector today as we head into the end of the year. let's bring in the director of research fred canon. were you alarmed at anything new you heard out of the big banks? particularly that warning out of citigroup about fourth quarter trading revenue, fred? >> well, it wasn't a complete surprise. if you've been watching the market, you knew we had a bit of a slowdown here in the last six weeks or so. but really i think what has

happened more than anything, the big u.s. banks have gotten a little bit ahead of themselves in valuation standpoint. and saying those high p/es for banks are ahead of themselves given the revenue situations. so we saw a bit of a dropoff. >> even with the economy improving, the fact we saw that strong jobs number plus 300,000 on friday. these financials were really as you alluded to starting to take off on this idea of a better economy and higher interest rates into next year, you would think that would be better. >> well, that is good. however, if you look at the valuations, they've already factored in higher rates next year. i think every time you start to get a little bit of a, wait a second, maybe the fed will be lower for longer that kind of thing. right now, when we look at it, if the fed doesn't start raising rates in the middle of next year, some of these banks have 10% downside to the current earnings estimates and trading has to continue to pick up, too. >> it's karen. let me ask -- when you think about the different revenue streams that make up banks overall revenue, it would seem to be that the trading revenue is the lumpiest and would

therefore have the lowest multiple valuation. so how much of a big deal do you think this really is? one quarter of weaker trading revenue? >> well, that's exactly right. i mean, that's the -- that isn't a multiple business. it's really the spread business that's the most important. so little, you know, movements, gyrations like today aren't that critical. i think two things, though, if we can get sustainable trading higher, which we could if volatility continues to -- if we get volatility in this market. that could be, make those trading numbers not lumpy, but lumpy higher would be a good thing. secondly, again, you have to fall back to the interest rate issue and the banks really need to start to see the fed lifting next year to get the earnings growth people are expecting. >> the other headline on banks today, fred, was the fact that the federal reserve was going to impose even higher capital ratios. i mean, this was sort of out there. we knew this was going to happen. but as long as the federal reserve is still in this mode where it is requiring banks to hold more capitals and make new rules, is that going to be an overhang on the sector? >> absolutely.

citi took yet another charge concerning litigation. i think investors for a long time want this to be behind them and it's not. and, again, the fed came out with higher buffers and not only higher buffers, but they're going to factor them into the annual stress tests. again, the challenge with only these big institutions for many investors is trapped capital is, yes, the returns are good, we like that. but how can i get it back if the fed's going to have them holding more and more capital over time. >> all right. thanks for joining us. good to hear from you, fred canon. and let's trade this, karen, you are long a number of these. >> i am long a number of the big bank of america, citi, jpmorgan, i like them all. i think the next catalyst we may see if rates don't move here and the end. earnings in january and then we come back, dividend, buybacks, any of those -- >> back to normal, steve, what about you? >> you know, for me the outperformer has been wells fargo. bank of america is lagging here. up 12%. but on a trading range, you usually see this thing get sold

off around the $18 mark. it's usually bought around $15. i know it's a far cry from here. but i would wait on a technical basis. >> and the investment banks, you know, every negative headline that comes uh out about the other banks is a positive for morgan stanley. they got themselves diversified away from these businesses and starting to show up in the valuation and stock price. it trades at a premium that goldman sachs, it pains me to say it, they probably deserve it. but steve mentioned wells fargo. the other name in that space, exactly the same performance, has been and will continue to be u.s. bancorp. >> doesn't the whole financial rally -- they've been on a fire since 2012. but to me, it's built on this hope that rates are going to increase next year, next year. at some point, that's going to disappoint. >> they still do better with a better economy, right? >> well, i don't agree. they've been not on fire until this year. so, you know, they had a lot of catching up to do. >> yep. >> and when you look at the multiple, the multiple is already so low. >> but do they deserve the same multiple that they had pre-crisis? i can make the argument they

should trade like a utility one times book. >> well, i think they're trading lower on the relative -- lower than the s&p. but lower than their average. >> all right. agree to disagree. that's why this show is so great. coming up, wireless wars. one stock that did not turn around today was verizon. just too many promotions causing problems for that company's bottom line. we've got all the details next. and melissa lee out in las vegas moderating a heated panel turned out to be between mark cuban and former sec chair chris cox. the latest highlights from sin city coming up. >> the sense i get is just arrogance. doesn't give a [ bleep ], right? it's not like she's saying, here we go, here's the strategy, the steps we're taking to make the markets more efficient, capital formation better, more trust in the markets. there's none of that. here's some news you may find surprising.

we're for an open internet for all. we're for creating more innovation and competition. we're for net neutrality protection.

now, here's some news you may find even more surprising. we're comcast. the only isp legally bound by full net neutrality rules. take a look at yum here falling pretty hard after some disappointing news. what did yum say. >> so here's what's happening. if the stock is moving lower in the afterhours, this after the company cautioned that its 2014 full-year earnings would

increase by mid single digits. the street was looking for a gain of about 9% for earnings full-year. it said its china sales were recovering more slowly than expected. and the company will hold the annual investor meeting on thursday. again, yum shares, you can see down by about 5%. we should also note that about 150,000 shares have traded in the afterhours. slightly heavier, although, not massive in the afterhours volumes. >> down about 5%. thanks. what's the trade here? >> the trade is, it's endenmic f the space. maybe they're not as lousy as they seem. but you've got to stay away from these names. and the name we continue to mention, obviously cmg is unbelievable. look at what -- i know it's become a running joke. look at what jack in the box has done over the last couple of weeks. that's the name that continues to work because that's the name that continues to have growth. >> all right. verizon getting hit hard in today's trade. kicking off our top trades tonight. the wireless carrier warning it expects to see, quote,

short-term pressure on its margins and its earnings per share. the news as you can see, dragging down the entire sector, tarks att and sprint all moving lower. >> it's a highly competitive, promotional landscape you're in right now. and people look to these names as being a pseudo security name. i wouldn't be a buyer of this as any type of defense in this market, trading lower. i'd be a buyer of utilities versus the telecoms. this is extremely competitive, and you've really got to pick really specifically the names that you want to be involved. although, verizon looks like it's got support here, i wouldn't be a buyer. >> didn't you say that yesterday, guy? >> you going to see the stock move a lot lower. and i think it has a little bit more room to the downside then maybe take a look at it, but not at these levels, no. >> anybody else have any trades here? >> the one thing i would say about verizon. in general in the space. their margins are squeezed. they're talking about margin pressures because of promotions.

ultimately, and it's not happening tomorrow, but ultimately this is apple's achilles heel. if verizon and at&t decide they can no longer pay those promotional fees, then that will fall on apple. >> right. except for walt was sitting here from btig saying this is the warning out of verizon is a good thing for apple. >> that's why in the very short-term it's good because you're selling a lot of phones n. the longer run, i'd be careful. >> all right. up next, mark cuban making some choice comments when our own melissa lee asked him what he would like to do with the sec. >> you come to this agency, treat it like a business, what would you do? >> you'd have to burn it down and start from the beginning. >> much more, many more juicy comments from that exclusive interview. plus, cuban playing a little would you rather on several stock names. "fast money's" favorite game, alibaba to facebook when we return. from record-breaking highs, to major market meltdowns, every night the "fast money" team

makes sense of the trades. serving up in-depth analysis and actionable advice. >> i think this thing is undervalued. i think it goes a lot higher. >> all to help you to prepare for the next trading day. >> i'm not telling you to buy it tomorrow. this is "fast money." >> i think there's a lot of good news in the stock right now. >> have a markets question for the "fast money" traders? tweet us @cnbcfastmoney. (trader vo) i search. i research. i dig. and dig some more. because, for me, the challenge of the search... is almost as exciting as the thrill of the find. (announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up - including a proprietary momentum indicator that makes researching sectors and industries even easier. because at scottrade, our passion is to power yours.

it's guy's wedding song. >> yeah. billionaire investor mark cuban got his first chance to take on the sec since being cleared of the insider trading charges. he sat down with the former chairman of the sec, chris cox for a debate that cnbc's own melissa lee moderated in las vegas. melissa, welcome to your show. >> thanks a lot, sara, it's great to be on the show. miss you guys. it was interesting, going into this panel, the obvious thing would be to expect fireworks from these two guys. an outspoken billionaire really putting the sec in his cross hairs since this case and of course, chris cox who used to head the agency, which mark cuban so vocally criticizes. the most common ground, especially when it came to

changes that needed to be made to the sec. things like the culture, changing the culture. right now, both of them say there's an overemphasis on enforcement. half of them are devoted to enforcement. there's a stress and emphasis on getting those win numbers up at the sec. but still, mark cuban had plenty of interesting things, as you can imagine, to say about why he chose to defend himself against these civil charges in that case. he spent $20 million over eight years to defend himself and what he'd do right now to change the sec. take a listen. >> when you get accused of this, it isn't just about the money. it isn't just the fight. it's about your family, trying to explain to your kids. i mean, literally, when i stood up knowing that they were -- the jury was going to deliberate, i had to go through my mind, what if i lose. what am i going to tell my kids? what am i going to tell the people i work with? you know, what's going to happen? during those eight years when i was fighting, the waking up in the middle of the night sending e-mails, doing searches, looking for things, you know, trying to

find more information that just consumes you when the government is fighting you unjustly. >> what would you do? >> you'd have to burn it down and start from the beginning. >> do you want the job back? >> no. i was thinking earlier about your case, which is one of the reasons you're sitting up here and it is poignant and attention getting thing. you mentioned it cost you $20 million and it cost you eight years. i'm guessing that if you had your choice between one or the other, i'd give you your $20 million back or your eight years back, you'd rather have the eight years. >> oh, in a heartbeat, of course. all those nights waking up in the middle of the night, you know, just finding myself just glaring, you know, not talking to my kids because here i am, daddy, what are you thinking about? you can't get that back. >> what did you do the night you were cleared of the charges? >> got stinking drunk. >> another failure of the sec, the failure to police foreign companies, especially as more and more americans, more funds are devoting more money towards these foreign companies listed here in the united states. in fact, cuban went so far as to

say the u.s. capital markets should be shut down, offlimits for u.s. -- from foreign companies, especially one in particular alibaba. >> my point was that the largest ipo in the history of the stock market is a chinese company. and it's a communist country. so by definition, you know, if someone calls up someone at alibaba and says, you know, okay, i'm this big wig and, oh, by the way, you can tell me what's going on or let me tell you about the new thing we built. they're not going to. >> should the sec have turned alibaba away? >> yes. >> alibaba should not be allowed to list in the u.s.? >> no. >> what's interesting, though, cuban is an investor in alabibaba. and i said you're being a hypocrite because you say the sec should've turned alibaba

away, and yet you're voting with your own dollars in the shares. and he says, you know, sec's not going to do anything about insider trading anyway, so i might as well invest. of course, i had to ask him if he would partake in one of "fast money's" favorite games, and you guys know this very well, it's would you rather. here's what he had to say when he played the game. >> would you rather, facebook or twitter? >> facebook. >> would you rather, yahoo or google? >> google. >> amazon or alibaba? >> amazon. >> now, interestingly, i asked the last one, amazon or alibaba. he's an investor. and he actually said amazon. so i thought that was kind of interesting, guys. >> guy, it's your game, right? >> i love this game. it's my favorite game. mel's playing it in vegas. what better place to play would you rather than in las vegas. no, i think he's right. i think facebook is spot on. i would rather facebook. i think amazon is interesting. although i would rather baba. what was the other one?

>> yahoo and google. >> it's fascinating. the selloff in google leaves you to believe the beta trade is in google. >> i would rather twitter. i think there's so much more upside in twitter than there is in facebook. twitter has done so many things wrong, they only need to do one thing right. they're starting to get things going. and the way the stock traded today was very, very encourag g encouraging. i think i said, somebody said on twitter, i said to buy it at 36 with both hands, and i'll stick to my word and say buy twitter with both hands right here. >> hey, melissa, was it friendly at the -- i'm just curious about how cox and cuban interacted and how that all ended up. did they shake hands at the end? >> they did. it was funny because cuban actually said at the beginning he thought that he put the boxing gloves on. and when he got into the elevator and chris cox was in the elevator, he debated whether or not he would shake his hand. but they walked away, they shook hands, it was all good.

and again, what was more interesting was the fact they actually agreed on what needed to be done at the sec. i mean, chris cox didn't go as far to say it needed to be burned down, but agreed there needed to be real change to the core of the way the sec operates. >> and it's a feeling shared by a lot on wall street. all right. i know we're going to see you a little bit later in the show. thanks for now. also coming up on "fast money," amazon just talking about it, making a new move in its bid to take over the world. this time adding a bidding option to its site for fine art and collectibles. so should ebay be worried? a deeper dive when we return. and later, the ceo has a bone to pick with our own karen finerman after she shorted the stock over a week ago. his comments on her position coming up. you've got to hear it. you can bring back a lot of things from a trip around the world. but you can't always bring back customer data. because many customers don't like it when their data moves around.

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still ahead on "fast money," watch out ebay, amazon may be setting its sights on your business. we've got a top internet analyst to give us his take. and abercrombie ceo is out, the stock is popping today. our traders have a few other executives they think should be looking to make that move coming

up. and after a wild day in the market, we're taking a closer look at the so-called fear gauge known as the volatility index in a special options action. but first, amazon taking on ebay by offering shoppers the option to bid on tens of thousands of items. mark mahamey is following the wars. he likes amazon. mark, do you like this move? and is it really a threat to ebay? >> i doubt it's -- we doubt it's a near term threat to ebay, but, you know, if there's been one building, growing threat to ebay over the last five, ten years, it's been amazon. sellers move there and buyers move there. this adds to that. we think it's more incremental than material, however. >> and, of course, amazon pushes back and says it's actually not an auction. in fact, the goal here is not to drive up the price. it's to drive the price lower. and it's just another move that amazon is making to cater to its customers and be friendly. would you agree with that? >> no, absolutely.

i think amazon's done a lot of things. i think at the top of the list of what amazon has done over the last two or three years is building out the distribution centers, they started the cycle in the middle of 2010, doubled the number of distribution centers, built out centers. we've probably all noticed getting packages from amazon on sunday, two days, instead of three days, one instead of two. this company is bringing packages, its services closer and closer to customers. and p we think we're starting to see a reaction. acceleration in their electronic and is general merchandise category. that's the early tell. the crushing of margins. >> seems as though the amazon story broke. everybody has gave up on the idea spend, spend, spend, eventually it's going to pay off. when you're out talking to your clients, institutional clients, what's the feeling you're getting? are you getting the feeling that this cycle's turning or are people throwing in the towel at

this point? >> brian, i think you stated it well. i think people have thrown in the towel. look, it's the biggest, this and groupon are the biggest underperformers in the internet sector at large cap for the full year. and amazon, i think the market had patience for three years. 11, 12 and 13 and lost it this year. for understandable reasons. i was one of those who thought we would see the investment turn positive this year. and i think it will turn positive next year. we'll start seeing a stabilization in margins. that's one of the unknowables hard to tell. if they don't stabilize margins and don't see the reacceleration, it won't work. i stick with my point earlier, 300 is the back of the truck price for us on amazon. >> it's steve grasso. i hear you and totally agree with you. we've seen this huge amount of investment within the firm. and now, don't you think it's going to look like they're pulling a 180 here? and if they stop and skid, you know, it's sort of -- there's no place for them to go here. i'm a huge fan of amazon, but can they do no right now?

>> can they do no right now? so the market sentiment is what you just said. they can do no right. people don't expect margins to stabilize, revenue growth to stabilize. that's created the opportunity here. but there's no question that this company's going to continue investing. bezos was in new york last week. and i listened carefully. i was in the room with him. i didn't hear any dramatic shift in his investment philosophy. he thinks they need to be constantly making bets. our point of view, however, is they just finished one really big bet, and that's the doubling of that distribution center footprint. they're still going to do bets and probably stick with that fire phone, unfortunately. but we think that the margin you're going to see, margins start to recover, and that's going to help the stock. >> so now "fast money" honorary crew member, would you rather, mark, amazon or alibaba? which stock? >> well, you know, i was on the show on, you know, 11/11 on singles day. i was asked that question.

the record's out there, i said amazon. that trade has worked. here, however, with alibaba coming in and amazon up just a little bit, i'll still stick with it. i don't mean to give you the wrong answer. i would prefer amazon over alibaba. i think there's more of a floor under amazon stock here. but we like both names but prefer if you had to buy one. >> answer the question. >> he has a dialogue in his head. he agrees with mark cuban afterall. all right. thanks, good to see you, mark. thanks for playing. >> thank you, sara. >> let's trade this. steve, your firm is long amazon. the only one at the table. >> yes, and the truth is, i love the stock. i've played the stock in and out, just on a technical basis. and if you look at support in this name. it's in the 280s. that's where you gather support. so we're 30 points above that. i would wait. i think you have to wait for another flush. definitely that 285 to 300 is support in amazon. >> it's almost difficult to follow, karen, every single move

that amazon makes. we talk about the bidding, the grocery, amazon fresh or some new delivery service every single day. >> i mean, they're very inno innovative. to me, the valuation is always something you have to come back to. and here, i love the product. i love amazon. we use it all the time. but i don't think they care about their stock price, which they have the luxury of not having to because -- >> certainly -- >> and they don't seem to care about profits. and i just can't help but think some day that will come home to roost. wouldn't short it, but wouldn't long it. >> a classic argument. time for pops and drops, the big movers of the day. a drop from h & r block down 5%, grasso. >> first of all, i'm not sure when you really see them make money outside of tax season. shouldn't be shocked by that. but the catalyst for this name has been selling off the banking unit so they can get out of this oversight from the federal reserve and the buyback that would be for the funds that are

from that sale. i think it's a buy, but you have to wait for the smoke to clear. >> a pop, up 1%. >> they reported the quarter december 4th. the quarter was okay. the guidance was lousy. the stock traded below $9. we said there's a good chance the next day, it goes green. it did. there's a huge short interest in name, it's an iconic u.s. brand. i think it has a chance to push $10 to the upside. >> drop for manchester united down 10%, b.k. was there a soccer game on today? >> i believe it's called football, actually. down 10% because the glaser family going to sell a $50 million stake in this. at 14 1/2, though, seems to be decent support. absent any other news, i think you're okay in manu here. >> pop for burlington stores up 2%, karen. >> yeah, not just for coats anymore, but for earnings beat which was unexpected, actually, so they did nice job, same store sales, revenue, earnings. guidance was raised. however, at this price, i think it's too expensive. i wouldn't buy it. >> we've got breaking news now on uber.

let's go over to julia boorstin in l.a. >> thanks, sara. the los angeles district attorney's office in the san francisco district attorney's office filed consumer protection and unlawful business practice suits against uber and announced a settlement with lift. this comes after months of investigation. the two district attorney offices conducted a joint investigation into these companies, including also side car found a number of practices that violated california law. they sent letters to uber lift and side car claiming they were operating illegally, warning they needed to make changes otherwise legal action could follow. here we see there was a settlement with lift and continued -- and more consumer protection and unlawful business practices against uber. of course, this is just the latest in many legal battles that uber finds itself fighting. back over to you. >> yeah, can't keep track on those. thanks very much, julia boorstin. they have got to have a high lawyer -- >> that's got to be -- you couldn't get me in an uber car.

there's no shot of me getting in an uber car. >> is there a shot at uber getting a $40 billion valuation. >> new york city medallions, you know, the medallions on the front of the cabs, each cab has one. i know this is getting a little -- they've gotten whacked, the prices. that's the trade. you buy a medallion. >> well, i'll tell you what, there is a stock. >> yes. >> it's under, i think it's $200 million. if that's how you want to trade it, that's how to do it. >> wrapping it up for you there. >> that's how you do it. abercrombie ceo mike jeffries officially out the door of the c suite and the stock is taking off. should you be buying on that news? plus, which big-time ceo should be the next to go. traders weighing in. they will name some names after the break. more "fast money" coming up. friday night, buddy.

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♪ mike jeffries resigning effective immediately. it was an abrupt move, no successor has been named. the shares of the company are

getting a pretty nice boost from the news, jeffries ran abercrombie for the past two decades. should you be buying on the move? or is it too little, too late, karen? never want to see a stock going up like that when the ceo resigns. >> yeah, this was so quick. so, you know, immediately. they didn't give a lot of detail why. it certainly makes you think that the christmas season isn't going spectacularly well. however, this has been a big knock on the stock for a long time. people have wanted him to be out for a while. i think they'll give a pass on whoever they choose to announce bad first quarter earnings or maybe even bad second and third quarter earnings to give them some time to get their sort of hands around the business. but i do think this is a positi positive. he took this company from a sleepy old sporting retailer to the hot teen company that it

became. >> right. you get the fame, you get the blame. either way for this stock, it's looked at around these levels, around $30. looked at as an lbo candidate. when you're looking, we were talking about support, technical support in the name around $29. it broke that to the downside. now it's struggling to recapture that. but apparel is going to be, it's struggling going into christmas right now because people are focused on technology. they want to buy things that best buy sells, not that abercrombie sells. so i think you wait until abercrombie clears $30 to buy it again. >> and maybe the models outside without shirts just got old. >> i got tired of doing it. >> got tired of doing it. >> all right. so which other companies should part with their ceo? let's go around the horn starting with you grasso, who would you fire? >> the obvious one for me, i've been suffering, a suffering shareholder of twitter. >> it cost a lot. >> yes, i think dick has the

best intentions. he's a good guy, nothing personal, but investors need to see real change. and even if they want apparent change, the idea of change or the perception of change, perception's reality, i think you have to see a change of leadership, and you watch the stock probably it would jump 20% to 25%. >> really? b.k.? >> for me it's mcdonald's and don thompson. when you look at what's going on in that space, mcdonald's just getting their butt kicked, frankly. they've come out with a couple of new products that haven't worked. but in that particular space, there are all kinds of new start-ups that have really taken market share from them. and so, i think, you know, mcdonald's is the one for me. >> it has been pretty brutal since came in 2012. >> for me, it may not be him. but in the last six months, this company has stumbled dramatically twice and it makes you think they don't have a great handle on the business. the cfo leaving, but i think at some point, you've got to kick

out the person upstairs. >> the stock down 40%. >> this is not the first time they've had a day down mid teens, i think. >> this is a david einhorn stock. >> it is a rare misstep for david. >> i like this guy, but he's been there since 2003, he's been there a long time. did great things early, but some of the moves later have not panned out. this stock made a six-year low today, maybe it's just -- maybe the message is not getting through. >> isn't it just china slowing down? >> listen, you know what, you've got to pull all the right levers. if your stock performance has been what this has been over the last six years, then something's got to give. it's like -- it's like a coach in nfl head coach, win a couple of super bowls, what have you done for me lately? somebody's got to go. >> tough critic. check out motivational guru tony robbins getting ready for a big speech in las vegas. he's taking on wall street in the latest endeavor. and he's got special advice for traders. that's right after the break. tdd# 1-800-345-2550 [ male announcer ] your love for trading never stops,

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we've got breaking news now on abercrombie. let's go to dominic in the

newsroom. we were just talking about mike jeffries stepping down today. >> that's right. as a result of him stepping down, a nice package as a result of his removal there as the ceo. according to a regulatory filing, abercrombie & fitch says they're going to pay him $5.5 million worth of cash and benefits. this is being tied to getting terminated without cause for the company. and this is all part of the outgoing ceo's pay as part of his retirement pack with the company. so they will pay their former ceo mike jeffries, again, this $5.5 million payment. that's cash and benefits associated with his removal as ceo without cause. and it's all part of his retirement pack with the company. >> thanks very much. karen, $5.5 million. >> it's not that much, actually. >> really? >> no, i don't think it's that much. the interesting part to me, without cause.

cause might be something like, you know, not reporting your travel expenses correctly. cause does not mean you've done a terrible job for the quarter. >> well, look, the company has faced -- we're talking about some legal issues with minority employees, age discrimination, all sorts of lawsuits. you could point to a number of reasons why he might step down, not to mention the stock is down 10% this year. >> and down last year. >> last year, as well. >> dramatically, yep. >> all right. another whipsaw day for the stock market. some traders are betting we could see more volatility heading into year end. mike in austin with the action. hey, mike. >> hi. so we saw above average activity in the vix index options today. specifically, there was about 135% of the average daily call volume. now, remember that when the market goes down, when the s&p declines, that's typically when you see the vix rise. when you see call buying in the vix, these are people who are actually speculating that volatility could increase and where they were buying most of those options were the december 20s.

paying only about 35 cents for those because those expire a week from this friday. here's an important thing to remember. when the vix goes up a point, the s&p drops about 1%. so that 20 strike call represents about a 5% decline in the s&p is where they think they ought to hedge. we saw similar activity in puts and spy, as well. >> all right, thanks very much for that and for more "options action," check out our live show 5:30 p.m. eastern time on friday. let's go back to melissa lee now back in las vegas where she got some very special advice. we've all been waiting to hear, melissa, for traders. >> you guys all know tony robbins, right? self-help guru. he charges a whole lot of money for advice. in fact, he charges some ceos and high-profile hedge fund managers $1 million a year, plus incentive bonus just for personalized advice. i thought, you know what, i'm going to do you guys on the desk a solid. i'm going to ask him what he would tell you guys who might be on a cold streak, i.e., lots of

losing trades, or what he might tell a trader on a hot streak. take a listen. >> i don't know if you can bring a trader down to earth that feels that invincible. i think usually life or the market does it for him. you have to have a right plan and strategy, but you have to have the certainty to execute. when people lose that certainty, they're in trouble. i show him how to build that certainty different on the individual. some people are going to do it physically, lift, sprint, run, because when you're pumping all that blood through your body with that intensity, your biochemistry changes radically. the mind and body are together. fear is physical, so is certainty. so you can shift that. >> and, of course, guy, i thought of you because you are an iron man. and so you know what this is all about. did you feel sort of invincible and in the right mindset to do winning trades when you were trading? >> i thought that was photoshopped. >> that's really me. >> you know what's amazing about tony robbins, the transformation from the adam's family to what he's doing now, it's tremendous. and i know -- >> that's not right.

>> john favro -- >> that's lurch, man. >> can you get an autographed copy of his book? i'm a huge fan of his. i love the guy. >> you've showed me that before. >> by the way, you guys mentioned -- you mentioned lurch, he's 6'8", he's 6'8", he's a whole person extra on top of me. >> whoa, whoa, whoa. what happens in vegas is supposed to stay in vegas. >> we don't need to know. it's okay. >> of course you guys misinterpret. >> all right. >> i'm back tomorrow, by the way. >> we'll see you back here tomorrow, melissa. thanks very much. good stuff out of las vegas. coming up next on "mad money," cramer's got a play that could help you regain power. he's talking to the ceo of nrg to see if its expanding solar business could add extra energy to your portfolio. don't miss it.

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it is time for the final trade, let's go around the horn. steve? >> you know what, i'm going to stick with twitter. i'm in the name. as i said before, i'm suffering, but i'm in the name. i think you're going to see some changes. to b.k.'s point earlier, they don't have to do a lot right to get this ball rolling. so i think it's going to be the stock of 2015. but i also said it was going to be the stock of 2014. go figure. >> bold call there. b.k.? >> you know, grasso mentioned they're suffering as other two people on this desk suffering cough due to cold. playing hurt tonight, good on them for being here. i will go with tesla. i said about a week ago that i'd buy it if it broke down to around 200. tonight's the night. b.k. sticks to his word, buys tesla. >> we see the classic trading pattern, a lot of the retail names, traded up into

thanksgiving. week after, down, now time to buy them back. we're looking at macy's call, bottom today. >> guy? >> great job by sara. upgrade, lulu goes higher. >> upgrade. catch "fast money" my mission is simple, to make you money. i'm here to level the player field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. >> i'm cramer, welcome to mad money. you want to make friends? i'm trying to make you a little money. my job is to educate and teach you, call me. or tweet me. sometimes a climb makes ns