yours? >> that's my emotional support animal. i try not to leave the country without it. >> tell me what and why. >> i think these are ready to move. >> bought it today. >> xle. you can nibble. >> protection still. >> tyler is waiting in the wings. takes it over now. >> "halftime" is over. "power lunch" and the second half of the trading day start right now. and i never travel without my emotional support pig in the seat next to me, ladies and gentlemen. good afternoon. huge legal decision came in this morning that is turning insider trading laws on their heads. huge decision there. we'll talk about that and whether insider trading should actually be legalized. watch out below. oil tanking yet again hitting new five-year plus lows today. look at brent. it is down $2.49. $64.35, better than 3% decline

today alone. brace yourself for more serious weather. mudslides possible on the west coast. rain and snow in the east. let's go down to sue at the new york stock exchange. >> and you know we have another triple digit down day for dow jones industrial. part of that is linked to the drop in oil. art cashin saying not only the energy stocks under pressure but that has spilled over to financial stocks. they are worried about the high yield debt that some banks own concerning energy. right now the dow jones industrial average off 103 points. the nasdaq is off 31. and the rus russell 2000 is off almost a third of a percent. followed closely by the dow. oil tanking hitting new lows of the trading session down almost 4% on wti and that's 3.5% on brent. bob pisani joins me on the floor

of the new york stock exchange. just the under pinnings of the market don't feel good today. >> look at chevron. 50 of the 150 points in the down side. that is exxon and chevron. there are dozens of new lows in the energy sector. here is a few including chevron down about 3%. that is a big move to the down side. we are sensitive to the markets but today there is actual news out. opec reducing growth guidance. iran talking about oil. and weekly inventory levels higher than expected. there is actually news around oil here and a reason we are moving lower. the tape is very sensitive to oil. i want to point out the stock market has done darn well. oil dropping 40% this year. there is the s&p 500. we are just off historic highs. dropping oil overall has not

been any disaster for the stock market despite the decline in energy stocks. airlines great movers today. jet blue good metrics for november. american did, we had good news overall. the airlines are going to make more money in 2014 than they thought and more money in 2015, profit levels are way up. you were just talking about high yield etfs. i want to point out new lows. there is where you buy in. much of that, of course, is shale plays about 15 or 16%. those etfs are seeing very heavy volume today. >> thank you so much. i'll see you again in just a little bit. now to a major ruling that will have huge ramifications for wall street and investors. it involved insider trading and kate kelly is in new york with the details. >> a victory today for at least two former traders convicted of insider trading and for others who argue that insider trading law in general is too vague.

in a harsh assessment of the case work by u.s. attorney's office in the 2013 insider trading and conspiracy cases against traders todd newman both of whom worked at hedge funds, a three-judge panel in the second circuit appeals court found the government failed to provide sufficient evidence of the crimes and reverse the convictions entirely. a key issue whether the traders knew that company executives who provided the material information they later traded on were receiving some personal benefit from the information exchange and whether they knew that their original sources were violating duties to their companies to begin with or kaefls they were affiliated with. today the second circuit argued the two things never occurred or if they did the government failed to prove it. either way they didn't make the case. when it came to personal benefit

idea argued the circumstantial evidence was too thin. in an exchange of career advice as it occurred in one of the cases here or a friendship from church were not sufficient personal gains in the legal sense to suggest a legitimate insider trading scenario. so interesting findings all around. >> absolutely. we are going to talk about that. stay with us. in just a few minutes. breaking news in the bond market. rick santelli is tracking action. what kind of grade is it going to get? >> this is one of the better options. b for boy on this auction. let's go through the inturnles. it's not really a ten year auction. it is the first reopening of the yield of the 21 billion, 2.214. the one issue market was trading 2.215. the best bid to cover 2.97 since

december of 2012. we also had one of the best indirects at 53.8 since december of 2011. where is the fly in the ointment? third lowest going back to august of 2012. all in all it really was a solid auction and tomorrow will be the finale with 13 billion 30 year bonds. we will bring back kate kelly to continue the discussion on insider trading. brian sullivan who is not a lawyer. he doesn't pretend to play one on tv but does have a law degree and michelle caruso-cabrera who wrote about why insider trading shouldn't be illegal in her book "you know i'm right." >> i love the stars. look at that. >> let me start with you, ron, if i might. what is your reaction

immediately to this decision today? >> i think it has broader implications in the sense if you look at the steinburg case where the person who gave him the information about a particular stock said he never told michael that it was, in fact, in some way gotten potentially illegal. it was second source information. there is a chance that that decision could get overturned. the mar toma case is of different ilk. i think this does have broader implications for some of the cases that may be pending upon appeal. the way in which the judge rebuked the prosecution is extremely important. they did not prove there was a material benefit. >> the judge said in this case as i understand it that the tippy had to have known the tipper was breaching a duty and the tipper benefitted -- >> you want to play act? >> yes. >> let's do this. you are the ceo. you are the intermediate yare

and i'm your friend. >> we are going to miss earnings this quarter. >> that's not a good example. you are going to buy xyz corp. we have adult beverages and cocktails. i have no idea where she got the information. if she says the ceo gave me this i know i'm locked in i can't do anything. if you tell me this, i heard this company may get bought there is no duty between us but there is between you or i have to pay her money or give her something of material benefit for that information and the judge said neither of those things is true. if i know you are the ceo that told her then i'm in trouble. >> kate, you want to jump in here? >> so tyler there are two schools of thought here. by the way, in terms of next steps this is obviously a tough day for prosecutors there is the option of the justice department solicitor general to the supreme court on appeal.

whether or not they do that will be very interesting. i'm guessing there argument would be and i don't know that if you make these burdens so high to prove the material benefit to prove that there was clear cut knowledge of violating your obligations and judges obviously differ on this, many judges in new york alone differ on this, if you make it that difficult insider trading could go on freely and it won't be able to be prosecuted. really that is the judicial dispute here i would argue. >> you maintain that -- >> there is a very bad assumption that if you allowed people to trade on knowledge that they had that it would be bad for the market. when i interviewed milton friedman he convinced me insider trading should be legal. the more people who have more information who trade on that stock will drive the stock to a much more accurate price much more quickly. he thinks it served essentially as price controls. i would add another layer that

there is this assumption that somehow you can make the market fair. remember that there are hedge funds that have kids that they pay to do nothing but sit there all day long and read every filing that crosses from every company. do you think as somebody who works ten to 12 hours a day at some other job do you think you are going to compete with those individuals? it's fair -- >> you argue that no information could be unfairly acquired? >> absolutely. that's right. >> no information. >> you can have -- companies can set rules within saying when you find out you can't do it. >> if you go back to 1997 when the conviction of insider trader because he leaked to a trader and ultimately i pleev his conviction was overturned if you

look at misappropriation theory you have to have a fedushiary responsibility. there can be people who obtain information unfairly. >> there is no such thing as unfair in this country. >> she is saying that the dissim nation of that information and the trading upon it brings the markets into the new equilibrium which is probably inevitable. i understand where she is going with that. on the other hand it's hard to argue that in the shorter term there aren't folks that are disadvantaged by the material information. >> do you remember during the whole scandal there were complaints if you started reading, they were mad that some people that six people had been told about one particular piece of information because when the event happened the stock had gotten there. imagine six people told this

information and the advantage was gone. you are using static analysis. >> the benefit aspect is what is new here. the duty thing existed. the whole idea of what institutes a benefit, personal relationship, career advice. i bet you guys lunch, i bet this does see the supreme court because this is a big change and the lawyer for todd newman who argued this is on street signs today. >> benefit trade goes back to the 80s. >> we got to go. 69% say no insider trading should not be legalized. >> hooray for 31%. >> i think you should go online at cnbc.com, blog about this and have an online chat. i think that is what you should do. >> that will be fun. >> i think that will be fun. >> or we can encourage our viewers to buy michelle's book. >> take it away, dominic. >> i am going to go read

michelle's book. >> keurig green mountain shares the company acquired launching man coffee and tea which produces gourmet coffees and a teas. >> a little caffeine in the stock today. yesterday we told you about the latest problems surrounding the f-35 fighter jet. new developments today and jane wells joins us with the latest on those. >> it's a weird one. we reported that luke air force base was repainting a lighter color. this might be an issue for the f-35. the jet might not be able to handle fuel that is too hot. that story created an uproar from here to arizona to washington. the pentagon, the air force say there is nothing wrong or special about the f-35 when it comes to fuel temperatures. there are no restrictions that

are any different than any other jet. we are told the crews at luke air force base were trying to think proactively to come up with solutions to potential problems. when i asked why are you spending to re-paint trucks i was told the base was trying to think ahead as it ramps up. in the current budget approved there is funding for four extra lockheed martin f-35s. and that will bring for next year a total of 38. thank you very much. if you are on the east coast you probably are just drying out from yesterday's nor'easter. my home this morning was snowing. got heavy rains and flooding streets in boston last night. there is more wet weather on the way. meanwhile, if you are out on the west coast you are definitely not off the hook but the wet weather might be welcome in some parts out there. let's go to carl parker with the weather channel. >> the snow is still coming down across new york state. this is a long duration event

going right through today and tomorrow. let's take a look at the model forecast and show you this area of snow that really does not move very much at all. we so more of that again right into tomorrow. it's going to be lighter tomorrow but in areas where we have had as much as several inches, even a foot of snow. that is northern and western parts of new york state. the other big story is this major storm coming into the west coast, tremendous energy there and as that comes in the day today and then into early tomorrow we are expecting to see not only heavy rain there in northern and central california but possibly some severe weather, very gusty winds and there is going to be a lot of snow in the higher elevations in the west. look at this wide spread area of five to eight inches of rain. back to you. >> thank you very much. the retail crystal ball which companies are seeing future demand for their products. the stocks that will benefit

straight ahead. three big predictions for apple in 2015. that's ahead on power with the dow down 136 points. (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. e financial noise financial noise financial noise

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we're for an opens you internet for all.sing. 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. welcome back to "power lunch." the dow is near session lows pressured by weakness in the energy sector. you can see the dow down about 140 points. not a surprise that the two biggest laggers are chevron and exxon mobil. goldman was downgraded to a

neutral by analysts on valuations. a bad day for the dow so far. 14 days now until christmas. is your holiday shopping done? has it started? the main brand l.l. bean struggling with a boot back log. sales of the classic boot are so stro strong -- >> it is a big boot problem. those are great boots. a close look at supply chains can indicate strong or weak spots for the broader economy in the coming year. the supply chain index is out with a new report analyzing performance of some 74 companies representing nine market segments. ben gordon joins me here. he is founder and managing

director of bg strategic advisers. nice to see you. you recently bought a shipping company. your company bought a shipping company. obviously you are bullish on logistics. what made you make that move? >> so we have two businesses. we have an investment bank that does mergers and acquisitions. bg strategic advisers. we have done over 200 deals. we have a public acquisition company which just bought a shipping company last week. we are bullish on the market for a few reasons. transportation is kind of the rodney dangerfield of the economy. >> totally. >> it gets no respect but a great leading indicator, represents 10% of gdp. many people think transportation is a great way to get a window into how the economy as a whole is doing. >> you had a couple of points that you wanted to bring up. as we look into 2015 obviously you are bullish. you say cycling, consolidation and innovation are three of the

points you are watching right now. what is cycling and what does that mean as we go into 2015? >> cycling is the shift. most people think of transportation and logistics we think of trucks, railroads, ships. over the last 35 years the biggest growth driver has been asset logistics. freight forwarders, truck brokerabroker age companies, theink of them a like travel agents for freight. what's changed in the last year or last three years we have cycled into the asset based side. trucking, shipping, railroad are outperforming. this year logistics is up 10%. truck load and ltl are up. >> there is also consolidation on a number of companies have been inquisitive, xpo, echo.

innovation, how much of that has to do with e commerce, e technology out there. >> right now we are looking at the holiday season in retail purchasing. as online purchasing is up 16% year over year that drives growth for logistics companies that handle e commerce fulfillment. there are other companies, too. as an example e bay bought a company that does e commerce fulfillment. those kinds of companies are doing great and they are poised to benefit from the growths in e commerce. it's the back of the house and not the front of the house. those companies are great ways to benefit. >> thank you so much. very interesting conversation. what a year it has been for apple. the stock up 40%. record highs there. new iphones and apple pay. what's next? we have three apple predictions for 2015. plus -- >> up next "power pitch."

an entrepreneur crowd funding a new market. >> we are the e trade of real estate investing. >> will this super panel bank on his idea? >> how do you ascertain getting all the deal flow to you? >> i think every investment cycle has three people, innovator, imitator and idiot. >> or call it a fixer upper? stay tuned to vote live. are you in or out on this week's startup. go to cnbc.com/vote right now and get ready to start voting.

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. welcome back to "power lunch." s&p 500 near session lows. leading the way lower energy companies. one ok. >> thank you very much. time now for the "power pitch" where one entrepreneur has 60 seconds to convince a panel of experts that his or her business has what it takes to be the next big thing. i'm william skely, ceo of i funding. we are the e trade of real estate investing matching thousands of investors from across the u.s. our institutional quality under

writing team reviews hundreds of projects every month selecting only the best ones to go on the platform where investors can invest as low as $5,000 per project. we launched a little over one year ago and have successfully crowd funded over 27 different projects of a total size of over $300 million. our debt and equity investments have delivered double digit returns to date, nearly twice that of our competition. we are the clear market leader in this $26 trillion global space and will continue to be for decades to come. to learn more check out i funding. >> you just saw williams pitch. let's introduce our panel. on set is ryan serhant. he has sold nearly $1 billion in

real estate in less than five years. and here is alicia syrett. she serves on the board of new york angels. and we have super broker dolly lenz. in 25 years she moved more than $9 billion in real estate and headed up development deals, as well. william, you are in the hot seat. would you like to throw out the first question? >> what bench marks or requirements does i funding have for people who want to become investors? >> we are only allowed to take accredited investors and the thresh hold and 200,000 or more in income and are expected to make that over the next 12 months or as a joint couple $300,000 or more. or a net worth requirement. >> how do you attract institutional investors to the platform particularly as some of

the larger name real estate developers and operators come into the space? >> if you look at what larger are doing no longer investing in cap funds i think over time you will see the market meet in the middle. >> how do you ascertain getting all of the deal flow going to you so you get the good deals and not just the deals nobody else wanted? >> to be honest with you the market is so large and so big that there is plenty of opportunities in the market place for a number of different platforms. part of the reason we are raising equity capital is to increase our sales team to find more deals and high quality deals. >> you should hire good brokers. >> i should. i know two right here. i'm just saying that might influence my decision. i don't know. i think it's an interesting idea. in hiring those research analysts or brokers, per se, what are you really looking for?

>> people who have strong networks and relationships with high quality developers. under writing is paramount to what we do. we only get in business with operating developers. >> how important is a secondary trading platform to the long term success of your business and how quickly could you launch one? >> to date there hasn't been too many people who wanted to sell their interest. we have talked to second market which is a large secondary trading platform. to build a platform like that ourselves i would think six to nine months. >> a question to you, dolly. >> how are your interests aligns with your investors? i think that is the biggest problem most vaeers have? >> we try to make the majority of fees based on success of the project. for example, onef oour four revenue streams is 20% of profit. the investor gets money back plus 8% to 10%.

then we take 20% of that. >> well answered. we need to know if you are in or out. this includes all of you out there watching. you can log on to cnbc.com/vote. let us know whether you are in or out on i funding. ryan? >> i think every investment cycle has three people, the innovator, imitator and the idiot. it makes me a little bit uncomfortable in the business that i'm in to know that just anybody, almost anybody can invest in something long term that they don't really understand so the idea as a whole is something that i'm afraid to say i'm out. >> what about you? >> it is unclear right now who is going to emerge as the leader. with that said i think that they put together a really great team and they're scaling internationally and it is a huge space so i'm in. >> one in, one out. >> i think this platform will be able to monetize lots of projects that may go bust so we don't know.

we are still early in the top of the cycle. when the cycle starts going down again i think a bigger need for william than there is right now so for that reason i'm totally in. >> two ins, one out. what is your reaction? >> thank you very much for the feedback. i appreciate it and look forward to working with all of you in the future. >> thank you very much to william of i-funding and to those on our panel. also our online vote is closing now. thank you to you for your vote. that is today's "power pitch." >> the panel had two ins and one out. your vote basically a little more than two to one in. let's move on. silicon valley and wall street bracing for one of the biggest tech ipos of the year. we will ask early and lucky investors plus their take on uber. another startup wall street would love to get its hands on.

that is tomorrow on "power lunch." now down to you, sue. >> thanks. let's get a check on the bond market on the back of the ten-year note auction. rick santelli joins us with more. >> solid auction going into year end. pressure on down side rates. no surprise. look at the intraday. look at a five-year dropped a couple of basis points from 161 to 159. watch the currencies in the yen gaining against the dollar today. look at the euro going back a bit. 1.24 is back on top. see how important this level is. one pivot to remember. back to you, sue. >> thanks. if you are chasing alpha, in other words looking for big returns in this market here is a hint for you, you might want to think small. he has been called an oil trading god. he is parting ways with his

firm. could the plunge in crude have something to do with the move. the dow now down 166 points. we're back in to.

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we want to call your attention to the dow jones industrial down by about 166 points. those would be session lows so far. we will keep an eye on what is going on with the slowing momentum for the trade mid day. let's talk about other parts of the market here over the course of the last month the broader stock market relatively flat. meanwhile some investors are hoping that positive momentum for certain sectors can continue into the year end. the third best performing sector in the s&p is technology over 2% led by 18% and western digital has gained about 12%. the second best performing sector is the consumer discretionary one. royal caribbean both up over 14% over the last month. momentum on that front. the best performing sector over the last month is health care up over 3.5%.

both gained 10%. those are some big gainers heading into year end. that is where momentum has been. >> oil, of course, continuing to drop, prices hitting new multi year lows. there you see down $3. look at that almost really close to 59. ice brent crude down 283. interesting fact from gas buddy u.s. refiners ran a record 16.9 million barrels per day last week and that broke an all-time mark. according to -- it is tip of the iceberg. ron, you argue on cnbc.com and elsewhere that we really should be looking also at other commodities, stuff like copper and iron and agriculturals, the prices for which have fallen. >> i would argue this is a

silent crash. we talk about it a lot but not in the way we would if the stock market were down 40%. oil is down 43% and now 44%, maybe more man that. we are down to 60%. we are pushing 50% here. then you have iron ore at a foufou four-year low. these are from my perspective warning signs of two different things. the global economy is weakening. we see that in china. their inflation rate is now falling. >> india. >> europe. >> japan. so worries about global recession and deflation is still despite the fact that people argue exactly the opposite an ever-present global economic risk. we are seeing it in commodity prices. today the german bund is flirting with 69 basis points. it is about to go below 0.4%. if you don't take message of

commodities combined as a warning of slowing growth and potential recession outside the u.s. for now. >> how long can the u.s. remain in this rather glorious spot? we are not an exporter of commodities. >> although we will be. >> but of some of the other metals we are not. >> falling prices are a huge benefit to the u.s. same with gasoline, heating oil and natural gas. i would say we need to watch this closely because it does have implications for the global economy. there are those who could get forced out if prices continue to fall. we need to watch whether we have a financial event or global economic event where if you believe that the u.s. will perform economically that these are things we need to watch closely. >> thank you very much. appreciate you being here. sue, down to you. >> he has been called an oil

trading god. reports leaving a legendary trading firm. who is this gentleman? kate kelly has more. >> it doesn't seem like there is a cause and effect there given reports that he was up last month after calling track in oil. andy hall, the oil trader of whom we speak is the closest thing to an energy trading rock star as oil trading hedge funds are fighting for investment dollars and natural gas trader who was successful in his day has retired. parting ways with philip brothers, the historic commodity trading shop where he was top oil trader for many years is still the end of an era. he worked after they bought solomon brothers. then worked for citi group and

then occidental petroleum. the winding down of the u.s. operations brings the 113-year-old firm where notorious oil trader mark rich earned his stripes and brings it into a new and uncertain future overseas. the devestment in order to focus on core oil and gas business which motivated this decision at a very tough moment in that industry may be the bigger story here. it isn't the only firm honing in as oil skims the $60 levels from the chart we were looking at. to be fair it has been looking to do so since earlier this year. there is reason to think these moves may accelerate. and yet others are taking a slightly different approach but backing away like continental

resources which sold off the entire hedge book a few weeks ago as oil was skidding. on a number of fronts we see companies dialing back this hedging, speculating that they may have been doing over the years. >> thank you very much. we want to let you know of an event taking place in just a short while, roger good elwill be making a statement at or about 1:45 p.m. eastern time. we will find out what it is in just a few moments. you see that live shot right there. and the commissioner is going to make a statement shortly. we are back in two. big year for apple. big products, stocks at record highs. what is in store for apple in 2015? three predictions for the tech giant when we come back.

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personal conduct policy in the national football league. that is owner of the new england patriots stepping up right now. roger goodell spoke earlier. what we know is that the owners have unanimously passed a new personal conduct policy, also that the nfl has approved the policy and one detail is that players will be put on paid leave once they are charged or after any kind of independent investigation. those are the details that were starting to trickle in. we do not know full details. we will wait for any statement. nfl owners have passed a new personal conduct policy. back over to you. >> sales, records of the iphone 6. apple will have a tough act to follow in 2015. what will the company roll out? what are predictions for apple in 2015? katie thompson is out with five big predictions for apple. we will cover three of them

starting with the i-watch. what is the thinking on this product? >> so the apple watch is coming in the first half of 2015. it's going to be one of the most diverse products apple has had. it makes sense it will be sold in possibly more than just the apple store. the gold plated one won't sell just like a sports watch. it may be sold in high end luxury retailers or jewelers. >> apple goes beyond channel into jewelers. second prediction has to do with the iphone. what do we expect there? >> the iphone huge. >> 6. >> iphone 6 huge in 2015. analysts i spoke to said we can momentum to last for a while. in the second half after the successor it is not as hot. the problem really is how do they top what they have done. 2015 will be huge. we will see a tapering off. will it have a bad year? >> third maybe the return of the

ipad to prior sales levels? >> the ipad is interesting. the ipad sort of had a big first year, a huge second year and then ever since then we have seen the growth rate really taper off. that is primarily because -- >> it might ramp up because quickly? >> because everyone will have upgrades. >> a refresh. a refresh and maybe a bigger one. got to leave it there with the breaking news. for the full story and list of all five predictions head to cnbc.com. thanks again. good to have you with us. we hit a new low on the trading session in the dow down 195 points. it was down 200. now down 195. s&p off more than 1%. and almost a 1% loss for the nasdaq. triple digit losses for the last couple of days. joining me now is mike wilson. he has $2 trillion under

management. haze miller is head of global equity. i'm going to start with you. we have had quite a rally in this market. perhaps a pull back is not unexpected. what do you expect in 2015? can the momentum continue? where do you put money to work? >> i think this year has played out. the fed has started to tighten policy with tapering of qe. we had a crescendo. people start to believe the economy can be self-sustaining. with the fed tightening and other central banks doing more it is unlikely we have a recession. stocks should continue to do well. we are not changing our positioning that much. technology in health care and momentum side of it. we think energy will have a rebound here because it has probably been oversold and thrown away. >> absolutely might be the case. what do you think? do you still like the market at this point? or maybe it is more attractive

to you with the pull back that we have had. where do you put money to irk with in terms of perhaps a more global perspective? >> i think we are still in a phase where we should expect lower returns than historically averaged for equities. equities is a place to be. i don't think bonds offer value at this point. i think it is more critical to be selective in bond equities both geographically as well as sectors. i like what mike has to say. i think i would be focused on sectors that can offer you growth and not really get pulled or sucked into value plays quite yet. normally a value play requires a better outlook for economics than we are going to look at for 2015. >> asia, korea, taiwan and india you are looking at. >> over to you. >> we have more details here on the nfl's new personal conduct policy. we just told you that owners

have unanimously passed this. among the details that we know the nfl will now have an nfl funded counseling and services program for victims, families and violators and more extensive list of prohibited conduct and independent investigative procedure also, as well. specific criteria for paid leave for any individual charged with a crime of violence including domestic violence also an expert group of outside advisers to review and evaluate potential violations, baseline suspension of six games without pay for allegations of assault, dating violence, et cetera and the appointment by the commissioner of a league office executive with a criminal justice background to issue initial discipline, a few guide lines. nfl owners have approved these new personal conduct policies

with these particular guidelines not limited to just the ones i have spoken of. we are watching the market very carefully. we are down 208 points on the dow jones industrial average. that is a new low for the trading session. we will talk more markets when we come back. hi. jon and pete najarian here. the popularity of options trading has skyrocketed. but we still hear from viewers every day who don't know how to profit from them. so we wrote an entire book to show you how we trade options. and if you're one of the first 250 people to call in right now and just cover the shipping and handling, we'll send you a copy for free. look at the rates of return we've made on some of our recent options trades, versus what we would have made if we'd just bought the stock. there's no comparison. to make the best returns in today's markets, you have to learn how to trade options. and our book will show you how we do it for free. it shows you how to use options just like we do

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the dow dropping down 206 points. the s&p hitting session lows and the energy sector not helping the cause at all as oil continues its free fall. rick santelli covering today's bond auction noting strong demand for the ten-year note. let's see what is coming up on "street signs." >> we are going to pick up on your excellent market coverage with the dow down more than 200 points can oil hold above $60? i know we are above there right now. we have about a half an hour left in the session. we will dig into the real winners and losers in the oil drop and a big changer for insider trading. the attorney for one of the defendants who won is your guest on "street signs." "power lunch" returns after the break. a big two hours left to go.

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welcome back. the markets are decidedly lower. the dow jones industrial average down over 200 points. the session lows. this represents one month lows

for the blue chip index. there is one group overall, not a dow member airlines having a strong day. united continental upgraded. the price target raised and rating for american airlines, as well as a result the entire airline complex, delta, southwest, all of them moving higher on the session so far. this all on the heel of lower oil prices. >> art cashin just swung by and handed me a chart he is watching. when the dow jones industrial took out yesterday's low he said a trap door opened up. that is why we see the dow down 213 points. when we took out yesterday's low of the trading session that did trigger technically based selling and art said that is basically why he thinks the dow went down 166 to down 213. >> it has been a slip and fall here in the past 45 minutes or

so where it declined. as we are going through the hour here you look at oil there down another four plus percent today with west texas right on the precipice of breaking $60 a barrel. >> that will do it for "power lunch." >> that's all the time we got. >> "street signs" starts right now. right now stocks are sinking to their lowest level of the day. lower oil prices and the oil slide contagion rattling the markets. i'm brian sullivan. as oil creeps closer to falling below $60 a barrel we will dig into why oil's drop seems to be spreading and hurting stocks and who is potential winners and losers. here is something else hitting wall street. a major court decision that looks like it is changing the game for insider trading case