a lot of work ahead of us. we'll talk the selloff and also the next stop for oil. and the one chart you need to see because it will be an stock that will go up this year no matter what the barometer tells us. >> is that sometimes square? >> it is. should you see some of the shots here. they are spectacular. >> interesting next new year's, that's for sure. fast money starts right now. big selloff today. blue chips on the dow getting hit the hardest falling 331 point. we'll tell you why and what happens next. and tonight as we mentioned, our first night live from our new studio overlooking times square here in new york city at the nasdaq. i'm melissa lee. warning signs comes to a head today. europe getting hard as fears greece leaving the european union intensifntensify.

and the fall in oil may not be over. ten year treasury getting closer to 2%. it could take out the modern era low of 1.38%. now, we see stocks here in the u.s. taking a beating. is this a temporary pull back or start of something more? >> happy new year, everybody. 1956 in the s&p is a 50% correction out of that 1820 low in the recent high of 2093. again, that's where it feels like we're headed. so it feel like it wants to go there, but it felt like that before and we had a bounce to the up side. we flag the 121 level in the russell and that's exactly where it traded up to. seemingly has failed. if that starts to get a little giddy up to the down side, i think the 1956 comes in to ther places to high.

>> certainly in the centering space, it really started to feel panicky. some of that is warranted. but i know also, though, there is a lot of money particularly in the oil space, energy space, rather, waiting on the sideline, waiting to deploy. i don't know if it would rather deploy when oil if it bounces back to 58 and then comfortable coming in at 58 raether than 44. who knows. but i have been tipping my toe in. every buy has been too early. but i'm drawn to the space. >> maybe oim lower for longer is not a great thing. when you bnk what is going organization we had the dollar make you new highs. a headwind possibly to offset lower input costs.new highs. a headwind possibly to offset lower input costs. s january effect you can throw

it out the window. you're starting to see the selling. i think it has to do with koornts ea corporate earnings. if you are a ceo or c level manager at a u.s. multinational, you will give cautious guide answer. so i don't think you will get this buoy of strong forward guidance. >> i think that's a question. is this notion that lower oil is in fact good for the american economy, is that off the table with oil breaking below 00 bu50s a brararrel? >> i'm one of the guys who is on the positive side. i think when you get violent moves like we got today, for instance the energy stocks, xle, oil down. it gets under $50 on oil. but these violent moves are allege when we get the violence moves in theest. >> referee: trest of the s&p. those that are panicking panic in other equity areas, as well. is there a reason the banks were

down today? >> this is a reason. there is worried about sovereign defaults. >> i think there are concerns about europe and if you take right now, what was the focus over the last month, my top three would be russia, oil, and europe. and you look at those and what is really changing about europe? it's getting worse. people are getting concerned. i still think that means opportunity because i think there is a lot of areas in the market that were getting sold off and i think that is great opportunities. >> you want to know if the energy jobs -- people rush in terms of jobs. when do people start laying off. we all go to the gas station except you because you don't drive. and it's great for all of f sav offset by wlank will be rising health care costs. you to say there are

tremendoustremendous levered plays. >> and when take you a look at the downgrade of caterpillar today because energy exposure, it's because construction equipment 2k3457bd demand has been driven by hydraulic fracking. sd >> where it gets overdone, i don't know. you saw today uri, as well, a big selloff there. tex. i don't know. starts to feel panicky to me. >> but that's a great area when you talk about caterpillar, that makes sense. that is would not of those that gets sold off and i'd agree with dan, that makes sense. >> rightfully sold off. so squwhat is wrongfully sold o? >> anything in the airline world. i'd be buying those hand over fist. >> our next level of support for oil, carter worth is over here at the smart board with the details. what are we looking at? >> we know one thing, it's a

mess. it's a good rule to learn some of the lessons again. buying weak sness is treacherou. wti, well confined equilibrium and fairly epic collapse. we've gone from $110 a barrel, even broke $50 today. so now what? when you are in a free fall, there is no level really to cite. you have to go back further. take a look. this is going back over about 25 years. basically we know that crude traded in a well defined range from 10 to 40. if you go back even further, always between 10 and 40. and this is the epic emerging markets boom when we got up to 140 a barrel. the collapse -- we are approaching the top of this range. that is how consensus. that's probably what a 4r069 peop lot of people are looking at. perfectly valid point. >> you think we get to 40? >> back to this, i've done this

twice now and there is nothing wrong with being wrong. take your loss and probe it again. i don't think we quite get there because it is so expected at this point. that's my hunch. >> let's bring in dennis gartman for more on this. dennis, good to see you. last time i saw you, i think oil was firmly in the $50 range and you said it will gragree to $0. c $40. do you care ratchet dwun your forecast? >> best i could tell is you it was going consistently lower. and for the first time i've noticed for the past three days that wti has actually begun to gain relative to brent all the way down wti crude was losing relative to breptnt. only thing that bothers me is the term structure continues to go out. there is an abundance of crude. always bidding for storage.

we have people buying tankers in which to put crude to store it. that may help in the long run, but the trend is still from the upper left to the lower right. and until we start to see the term structure and give you a signal, maybe most of the bearish move is behind us, but it will take a great good deal of courage for anybody to stand up and say i wish to buy it. but at least wti has begun to gain relative to brent and that's the first sign that most of the down ward move is behind us. and by the way, i can't wait to be in new york to see the new digs. they look fantastic. >> thanks, dennis. >> people think tankers move with oil, they actually move counter to oil. but when you start to see the carry trade that we're starting to see now, in the past have you found that to be where relative to a bottom?

>> if you take a look back, it's actually not a very good sign. because what ended up happening back in '08 when you had the contangos out to almost $15 for one year carry, we're only you now at $6.80 -- >> $15ed on what denominator? >> $15 on $40. and it was clearly one of the great trades of all time. going by crude, go sell the back month as long as you can sell storage facility and deliver in. worked great. i think we'll continue to widen the contango out and what we see right now will get even farther out. more people will do more buying of tankers. but this is the first time i've ventured in. this is not a bet on crude, but on simply the carrying charge. >> so you want to own tankers. i want to get back to the oil trade.

jeffrey gundlach said if we see o oil go to $40, that would be terrifying. where do we stand, if you see oil going to $40, what are the implications for the u.s. stock market? will we benefit the because of a flight to safety trade or because will we also fall some of the global markets and go down? >> it is hugely beneficial to the economy. it can't seen any other way. i don't see this as an example of declining demand around the world. i see this as an example of increasing supply from around the world. nothing more than that. weakness in crude oil prices is demo dem demondaysbly -- >> so you'd buy. >> give me 200 points on the dow and i will.

>> about four hours of trading today. >> exactly about that. >> all right, dennis, thanks for your time. >> one last thing. when i first got in the business in 1972, 400 was where the dow was. >> some perspective. dennis, thank you. 200 points down on the dow is a buying opportunity. >> i don't know if that correlates with 1956. probably more in terms of dow points. but now the correlation has sort of gone away. the other hinge dennis didn't mention was the move in copper. another four year low. so some of these deflationary themes are starting. >> isn't this a good chance is this is the fed bubble coming unwound. you think about the stimulus placed all over the globe and you think about the bridges to nowhere that have been built. and all of a sudden now we have these huge debt burden. we can't build anymore crap. so now when you see an industrial commodity which is also a massive risk asset like oil dropped 50%, you can't be too cavalier about what else is

going on. so i think to put a place in the sand and say down 200 dow points, what is a dow anyway? i love dennis. but i don't think that's where you step in and buy for the long haul here. i think you wait it out. >> any buys in the material space? >> no. i look at the energy space. and things related to energy. airlines is a place to buy. look at the ovx. 59, three year highs. that's actually moved up from 20 in september to 59 today. didn't close there, but that's a huge move. >> some of the hottest stocks of 2014 like tesla and apple hit hard today. are their best days behind us? and carter worth will have the one stock he thinks could break out no matter what happens in january. -800-345-2550 [ male announcer ] your love for trading never stops,

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caterpillar getting hit hard and kicking off our top trades tonight. jpmorgan down grading from underweight to neutral and cutting its target to 80 bucks. as we mentioned, it's because of the oil and gas exposure. >> and it's not just that. these guys have been buying back stock hand over fist. just to get a little earnings growth. but sales have declined massively since 2012 when they hit their pick about 66 billion. sth so strong dollar and weak oil. so this is not one you want to such probably until it goes to jpmorg jpmorgan's price target of 80. >> and you wonder if the ceo will be put to the test. back on december 22, he said, yes, short term there will be pain because of exposure, but longer term it won't be as bad as the bust in the mining industry. >> you can't help but think this is actually not a bad thing for him. if he misses, the whole industry will miss. so you can blame it on like the

winter of last year for retailer. he could blame it on the precipitous drop in oil. i continue to wonder why caterpillar cannot seem to have visibility better than they do. >> there has to be a credibility issue. the stock has not traded well the last six respe, seven month. if you look at 2013, that's where we bounced off of a number of times over the course of many different months. so feels like it wants to head to 80. big volume at 80 bucks, that's when you buy. >> next up, mkm is citing improved data centers as well as a flexible china approach and pete, this is interesting after a 40% run in 2014, mkm says, you know what, buy. >> but there has been a lot of firms that have missed it and i think that they're right even

now. this is a company that has been extremely aggressive. they have done partnerships. they have been very creative, they have done acquisitions all for the right reasons. i think the new management team is incredible. i think the growth prospects going forward, wearables, i think they're doing everything right. >> and it should be trading at a premium to the s&p 500? >> why. this company is expected to grow mid single digits at best forever. pete has been right. i do not think you step in and buy. >> but is it going to get sold off and a dividend yield. >> better peers today. >> obviously the upgrade helps, but going forward, they're doing so many things right and i think they will have more growth than we're seeing projected. >> next up, ford reporting an uptick in sales and downgraded by citi to a neutral from a buy

while tesla getting hit hard falling over 4% on the back of a rough december. ceo offering a chance for the public to interview him tonight online at 9:00 p.m. eastern. on reddit. >> you don't even know what it is. >> hurtful. they make car, but completely different stocks. you can make an argument autos peeked last year. tesla has done textbook in terms of technical trading. it bounced off 220. when it finally broke, we said 180. got down to 190. rally due being back to previous support. now resistance at 220. you now i think it trades back to 180. so these levels are flipping a coin and you didn't want to do that. >> should we be worried hearing about the auto trade, the gms,

the fords? >> i think so. i thought the numbers were okay. some didn't meet expectations. but they have been great for the last three or four months. great. and the stocks have not been great. so i am afraid for the auto trade. i can't get back in. >> coming up next, the inside scoop on apple's iphone holiday sales. u sell gives us the stats. and later, the one name you should own into 2015 no matter what happens to the rest of the market.

kate kelly has the details. >> thanks so much. it was a banner year for the first year of the privately held family office for steve cohen that literally $3 billion in gross profits according to someone familiar with the matter. that figure came largely from successfully trading. suggests even with a raft of legal issue, one still to be resolved, company hehen has ha missed a step. it's hard to deduce what the net percentage performance was. but the up side for cohen's

flagship fund, 15% as of late october was by the end of the year still in the teens from what i'm told meaning it may have beaten the markets but certainly beat the average hedge fund. 0.72 is large i the same strategy albeit with less public scrutiny. so they trade quickly in and out of stocks. hard to noe know what they own. but the strategy seems to be working for them and also a recent legal decision that favors points of view like cohen's like the insider trading laws are somewhat murky and some of the convictions that have been won perhaps should be kroefr turned. he still stayses one legal issue with the s.e.c. which of course charged him with failure to supervise certain people. so that may well be resolved in the coming months. >> kate, thanks a lot.

he must be celebrating. >> i wonder if with that verdict overturned if one day he's back to a public hedge fund. or taking money from the outside. >> that's true. we've heard stranger things. apple following the market lower, falling by around 3%, dropping for the fifth straight session. but there is one 34e9 triwoone y be pointing toward stellar results from the holiday season. let's bring in nick raymond. good to see you. what makes you you believe the holiday season has been off the charts? >> so as you know, u sell is a reverse commerce market playing. like rezeverse amazon. so we have a wealth of data on secondhand market prices. what we find is that second hands market can on which tell us a lot of what is happening in the primary markets. we put together a chart to basically look at the price depreciation of the older model iphones this holiday season versus last holiday season. what we found is that if you look at the chart on the screen,

we basically showed the iphone 4 s depreciation. it was the most highly traded phone this year. 4heil highly traded phone last year. >> so more people want to trade it in, so there is a glut of those phones on the market. >> so supply drives prices down. we see a huge number of people trading in their 4167 s upgradi to the 6. >> so how good was as an indicator for sales? >> it is a big indicator. we see tee depreciation every year, but this year was more dramatic. so we think apple hadded a great season and it's still continuing in to january. >> and wouldn't that likely be because of the fact that this is a huge transition.

this isn't just modifications fp is this an entire different phone, different sizes. >> the biggest thin is the size of the phone. the size is huge. remember it if someone is moving from a 4 drks -s, they're makin huge leap. if you're moving from the 5, more the screen size. >> so you think 6 sales will be enormous. >> 6 and 6 plus together, absolutely. >> nick, thank you. what is the trade on apple? >> 106 and change. obviously sold off. the market was rallying. i'm sure a lot of people likes it as these levels. i haven't seen the flush. i think the trade is qualcomm which has traded remarkably well since the flush in early november. we saw huge volume day around 68 bucks. you've had fits and starts along the way. i think qualcomm is the place to go. >> would you rather qualcomm or apple? >> oh, wow. i'd go with apple.

but you as opposed to guy as much as i like qualcomm, i'd go for sirius logic. it's had a huge run to the up side. just off the two week high. >> wasn't one of the choices. >> well, he said apple and then -- >> if what nick was saying is correct, those 6 sales will feed into them and the idea that they could get in to samsung which is a possibility. i think sirius logic is really on track. >> aren't blockbuster iphone 6 and 6 plus sales baked in? isn't that expected? >> i don't know. i don't know if it's fully expected. to me this where it trades today is just totally irrelevant. it's about january 1227, they wl be reporting. >> after the break, the january barometer revealed. what it could mean for the rest of the year's performance. and phil lebeau takes the wheel, or better yet, takes his hands off the wheel in audi's brand new driverless car. the details ahead.

still ahead on "fast money," january getting off to an ugly start. we'll tell you what it could mean for the rest of the year. and the one stock that could do

well no matter what happens this month. and autos and auto technology stocks taking a hit. phil lebeau is test driving driverless cars. and tomorrow find out what mike ron's report could mean in a very special "options action". but first the white house press second josh earnest is cotsin's selloff. >> in terms of what may be driving the fluctuations, i wouldn't speculate on that. but obviously this administration has been working very closely with our partners in europe as they have worked to deal with some of the financial challenges that they faced over the last several years both as it relates to some members of the eu, but also as it relates to the broader economic trends over in europe. concerns over europe sending stocks lower by more than 3 o00 points take. what happens in january could predict what happens in the

market for the rest of the year. carter worth has the details. and carter, this is known as the january barometer. what does it tell us? >> it's important because it turns out there are a lot of correlation between early going prchlg answer and then full year performance. otherwise known as the january barometer. sense the adage as january go, so goes the year. even the first few days are meaningful. so what i have here is the best januarys. the five best going back to 1927. as you can see, obviously very good returns. and the full year return of course is quite positive. take a look at the five worst januarys looking back to 1927. a lot of damage done while still positive on the year, you just don't have the kind of results you had when the early goings are good. now, i want to look at the probability of being down on the year all together. down is infrequent, right? markets are built to go up. they go up over time. only one out of three years, the probability of being down any given year is about 34%.

now, what if the first five days of january are down? what does that imply? in fact if the first five days are down, you have a 56% probability for the year. so we've gone from 34% up to 56%. and in fact if january is down, the probability that the year will be down jumps almost to 60%. these are data going back to 1927. i didn't make it up. it's irrefutable. it doesn't have to play out that way, but it's a high odds bet. let's look at the s&p. i want to talk about an idea that i like quite a lot. is this our bull market. a well defined but ascending wedge since the march '09 low. we almost have nowhere to go. you either have to get one of two things. the bull think you'll go a blow off top. i doubt it. then you come apart. but we're out of runway. so we're betting down. now, let's talk about something that i think is quite important here. home builders in the u.s..

they don't care about the euro. they don't care about the cost of crude going to 40. they don't care about the crimea, about china. and down today half as much of the market over the past month, the market down 3%. home builders up 3%. relative strength matters. and then of course the pattern a well defined double bottom. you also can draw this way. a cup and handle. either way, is this a big outperformer absolute and relative in 2015. >> so on the s&p 500, you think outperformer absolute and relative in 2015. >> so on the s&p 500, you think that we will go lower on the s&p. what level will be key to hold on this index? >> what is important is how -- aga again, these line, the market fits these lines. we breached october. you can't even see it. i think we're revisiting october levels. that impliescarter, thank you.

so 1820 on the s&p 500. but be long itb. make sense to you? >> i think it is going to 1956. i think we bounce off those levels. every time it's traded to a level, it has bounced. but carter is always spot on. and he used two great haiku ready words. contra distinction and ir rep e irrefutab irrefutable. >> tune into twitter for that. itb. what do you think? >> i think if you were to do it as a pair, given the underperformance that you had in 2014, that actually makes sense. but i think if the s&p is going to 1826 or where he said, i think the itb is going lower, too. >> we were talking about jeff gundlach's comments and he's sort of negative in terms of his outlook. shorting itb was one of his top ideas last year. >> he was very excited about that and he talked about the housing index going down. so that would play against what carter is talking about.

i'd have a hard time seeing the thp get to those levels carter is talking about without the itb going along with it. >> big movers of the day, we have a drop for herbal life. >> being a man might be right in terms of what he feels about the company. you've had a lot of headlines over the last couple weeks. stock at a 52 week low. >> he will here is a stock ipoed last year at 15. went as high as almost 42. i think you see this stock going you all the way back to the ipo price. i wouldn't step in here. i think you wait until it's in the teens. >> also upgraded pot belly.

>> down with the market, a downgrade from a buy to a sell. so that's pretty aggressive. there is no global growth story. uri is a north america based, but definitely has energy. >> and gilead. it's a big pop because this is a stock that was actually in the negative. moved all the way up to 2%. and i think this is a great opportunity. i think this stock after being at 115 under the $100 a share, i think gilead has plenty of up side. >> and a drop for chicken mweekend, one customer made an unpleasant discovery finding a piece of vinyl inside. in response, mcdonald's japan has ceased mcnugget sales at you will its japanese franchises. fowl news -- i didn't write it -- in july mcdonald's japan

was forced for switch poultry providers. and just last month, a will i be dispu labor dispute affected sales of french fries. >> a little vinyl never hurt anybody. mcnug gets are outstanding. barbecue saws. >> hira it tchi sauce. >> steel, you look at the commodities. guy addressed copper, as well. when you look at steel prices, you look atler x. $10 lower than just a month ago. the april 26 calls were bought. those are getting sold today and rolling down to the april 24 coal puts. this is somebody right on the done side. they continue to think there is

more down side. i think it's a great side. i did not get an opportunity to get in to it today. i think they will breach the lows. >> real quick, a couple weeks u.s. steel trading 31, pete said it's headed a lot lower and it's $6 lower than that. >> very nice of you. >> steel trap. >> all those chicken nuggets. >> coming up, a driverless road trip. audi is second its test vehicle on a journey from california to las vegas. and phil lebeau is along for the ride. we'll get an inside look. why do we do it? why do we spend every waking moment, thinking about people? why are we so committed to keeping you connected? why combine performance with efficiency? why innovate for a future without accidents? why do any of it? why do all of it? because if it matters to you, it's everything to us. the xc60 crossover. from volvo.

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check out mobile eye getting hit along with the rest of the market but driverless cars are a step closer to reality. phil lebeau took a road trip in a test vehicle. let's get to phil to more.

>> reporter: we are finally at our destination after two days and 560 miles from san francisco to las vegas. we had a chance to see what piloted driving is all about behind the test car the audi a-7. right now i'm driving hands free foot free, i'm not controlling the gas or the steering. as we head into the mojave desert. essentially what you have is a vehicle, their vision of the future in terms of being able to drive in real world conditions. we've been passing cars, we've had other cars pass us as we're driving down the road. and i haven't had to control the steering wheel at all. there are 20 cameras and sensors built into this a-7 that allow to survey the other traffic. and then based on what is happening, it will be able to make a decision about what wletr not we need to lane claphange. if i want to get off the exit,

hit these two buttons at the bottom of the steering wheel and it tells me i'm once again in charge of driving the car. there you go. so the question i've got aen all day long, two things. one, what did it feel like. perfectly normal, natural, an extension of what we have with cruise control right now. i can see this being technology in the next few years. and one other thing, there are 20 accept sores and cameras in that vehicle supplied by bosh, and mobile eye supplying some of the sensors and cameras inside that audi a-7. back to you. >> phil, i'm curious, which of the auto manufacturers are farthest along in terms of getting one on the road? >> gm has promised to have one on the road by 2017. ford is probably close behind general motors. it's also working on this technology. and chrysler is also working on this technology. but fwchlt gm is the only one that has a

stated goal of super cruise control in vehicle by 2017. >> phil, thanks. looks like a lot of fun. safely arriving in las vegas. >> as far as you know. >> i was in a driverless car and it was unbelievable. sipping coffee, tweeting. unbelievable experience. >> isn't part of the driving experience driving? >> for you it is. i want to get there. >> where? >> i just want to get to where i'm going. >> traded poorly today. if you look at the stock over the last now since october, series of lower high, lower lows. didn't look particularly good. big short interest. i think it has to absolutely hold the december low which is 40 bucks. >> there are concerns that bosh in terms of the guy row gyro scope will enreplace mobile eye. >> they don't have earnings yet.

if you think tesla is way out in the future, i think mobile eye. >> you sound like you don't like mobile eye. >> he'll say it. is this serious george jetson stuff, but this is a $9 million market cap. you're telling me he a company like bosh is making the same sensors. find ear ways s toother ways t exposure. >> love the jet sons. i was like 30 years old when it came out. >> the ultimate beam me up. >> still ahead, dan nathan has one stock in store for a big move following earning reports tomorrow. the big reveal after this break. ♪ first impressions are important. you've got to make every second count.

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welcome back. we're live at our new home at the nasdaq market site, but on the second floor and there are so many people who have commented very nice things about our new digs. but the number one question that we're getting, who are the people back there, the people back there, market intelligence desk here hard at work looking at individual stocks. so there is your answer.

>> wave. is this this is a live shot. actual people. >> micron reporting earnings tomorrow. which direction is it moving? dan, what is the action. >> volume ran 1 1/2 times daily average. puts 2:1. when the stock was $34 or about that, trader sold 3700 of the january expiring in between weeks. 35 calls at 96 creents to close and rolled it out to july. breaks even up14%. my kron has micron has been a huge bull market leader. double digit earnings and sales growth. it's actually consolidated a

heck of a lot over the last six months. it's failed to break out above the $35 level. here is the 15 year chart. look at this baby. this is the breakout. and so if you think that there are legs to withis whole memory cycle, this is what you want to own. options prices in front of earnings aren't particularly before before trades eight times expected earnings for a reason. this is an amazingly cyclical bits. when you get a cyclical downturn, this stock will be down 10%, 20% in a quick. >> check out the live show on friday:00. cisco finished 2014 up over 20%.

coming up in the next hour, cramer has the exclusive with the ceo. take a listen. >> you have often given forecasts that seemed wildly outrage us about the amount of data that was going to be put on the internet and they have approach really right. how about the next five years. how much do you see? >> i think you will see explosive growth. i think the impact will be 5 to 10 times the impact of the internet to date in terms of technology and loads on networks. >> much more of that interview at the top of the hour on "mad money". but let's trade cisco in the meantime. they don't report until february. >> i thought the last quarter wasn't very good and i was surprised at how robust the rally was in the wake of it. sold off since. i don't think you can get murt on it, but i think you can buy it cheaper meaning back down to 25. >> colorado's legal pot sales are supposed to kill the black market. so why is it thriving in meet

the drug dealers who still ply their trade in the shadows. >> no selling. i'm not selling anything. he's just giving me money. and i'm just giving him some cannabis. >> he offers medicine to me for a donation. >> reporter: ray green is a regular. he can buy in dispensary, but buckland is just a phone call away. >> convenient sometimes to have a caregiver. >> marijuana country premieres tonight at 9:00. so be sure to tune in. hosted by harry smith on the one year anniversary of colorado's legalization of recreational marijuana. >> wonder if harry smith is -- >> lots of characters apparently. we have your first trade for tomorrow when we come back. ♪

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steep selloff to begin the first full week of trading for the new year. wti crude hitting lows we've not seen for about 5 1/2 years taking down the broader markets and we did see the selloff across the board. very broad based rally on the s&p 500 today. time now for the final trade. could be a big session tomorrow. pete, what did you say. >> utx i have not done yet. neither u.p.s., but ual bought today. >> qqq, i think you buy puts. i think the concentration among some of the largers nam err erm wait for a bounce. doctor. >> frontline, i think they squeak through their next debt payment. >> i'm long the braces. you can check that out?

>> ie sus pen sdependesuspender. >> and we'll see you back here tomorrow at our new gigs. 5:00 tomorrow again for more of the show. "mad money" starts right now. my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always homework in summer, and promise to help you find it. "mad money" starts now. >> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, uh-uh, i want to help make you money. i want to educate, teach, call me, tweet me at jim cramer. geez, we had some just awful action today. >> the house of pain. >> first real trading day of 2015