>> pretty song sell response on that the market is a bit back on its heels. >> in the bad mood the february the first down month in about a year's time we'll see what happens for march. "fast money" begins right now. i'm in tonight for melissa lee. jim cramer has two blockbuster interviews with ceos of salesforce and under armour. brian kelly heading into deep space. when he's done you'll never think of crypto the same way again. the dow suddenly tanks nearly

400 points, closing on the dead lows of the day. the dow suffering its -- snaps a ten-month win streak >> 15 of 19 trading days >> i'm with you. >> last time -- >> the friday before we went on the sabbatical, the last time the s&p 500 traded down. we talked about it on the desk i happen to think, that the head wins are in there in the form of

the fed. i happen to think it's a sell the rally market last thursday you had the huge reversal, and some of the intraday moves today, and it leads you to believe that the vix is probably too low, and i think the market does re-test the lows plus 388, plus 347, down 167, down 254 >> i think it's going to die down >> that means you can buy the dip then >> i think it has to be a little

more than here the quarter was fine i -- i'm going to be looking at lows i'm send not a seller. he we going to retest? maybe we get there if you look at levels on the market, those are certainly wins russell is certains through the 50 they look like they want to retest powell actually said the vix etfs are not what's causing the market volatility. some very smart people have -- the dynamic is volatility is comes from more central bank

he also the data that i am seeing -- he's maybe separating himself from other members equities are a very different investment that is they were 50 biopsy agents, had speaks tomorrow some people hope he dials back. >> maybe he was honest inflation is coming, make it's here the market is repricing in that margin will reas long as companies can race -- maybe only 4 to 5 or the economy is going

to really heed up, and all of a sudden you have margin compression. the third option is we stay the same two out of three options are likely lower places. >> i think there's stagflation. >> listen, you see inflation in the wrong place, you're not seeing it in wage growth it doesn't line up particularly well they soon even by tacking about

it >> i don't think this was a hope hicks' sell-off. >> who is subjecting that it is? >> i do think there were crazy politics, kirshner getting downgraded, and maybe his insecurity, these are facts. i'm saying a market that doesn't want uncertainly >> this market is not cheap. >> at the end of january, take a listen >> volatility is coming back, we'll have more spice in volatility, but we will not

going to this elevated period. at the just normalize. ies harvey is the head of -- joins us once again. >> i would expect the spike and to see the decase. >> do you think we're going to go back to the lows as part of that volatility? >> no, i don't think we'll retest the lows, we saw a lot of fear the flip phrase we use is cathartic puke we don't have the systematic risk, just a repricing of risk

>> i agree with almost everything you want. >> weak hands are the once that can't really deal with the fire gets very hospital everybody was saying on the sell-off, we needed it, it's a breath of fresh air, this is the pause that refreshes you name the cliche. it was said, we bounced back off the 200, here we go. i don't think it's supposed to be that easy >> i don't think it was that easy they were waving me off. we had the busiest days in probably 12 months so people were busy, people were repositioning. there was a lot of pain, a lot of fears one of the things that clients tell me post lehman, what i keep hearing is what am i missing what you see is a gap in process as people freeze they don't say, he know the fundamentals, i'm going to take advantage. they have paralysis through analysis, and they're always asking, what am i missing?

that's something we continually see. >> you mentioned we don't have the systemic risk, but let me push back on that. we have more dead than we ever had. that's the biggest systemic risk and that's what people are missing. >> earnings and growth are starting to pick up. so leverage starts to expand. we're still below 3% and if you look at balance

sheets, liquidity is really available. we're not going back to the lows you need to sharpen up year pencil you have to step to that and vice versa why does ever pullback have to be. >> where we don't have a lot of corporate debt, and we have u.s. dollar denominated debt

globally as that dollar rises and rates rise, that debt gets harter to service. >> that's what you need to be concerned about. >> i do know what you're saying. >> we're embarking on the greater financial experiment of all time, and i think rates in europe are so grotesque le manipulated, that every time they start to show any type of tightening, it will start to push of rates. i've been mostly striking a cautious tony in the early part of this show i think earnings outlook will be fantastic. i think the back-row story is only getting strongers and the one thing i would add to that, i would rather by taking about systemic risks

and we look at -- we're at market highs again statement there are risks out there. >> you have the last word. >> it's about liquidity. that's the biggest risk. what we saw in the sell offwas a lack of liquidity. that's the thing i hair from rate payers and fx payers. >> chris, good having you here we'll see you again soon. you want you bought a stock today? >> this is on earnings, which is in the lng shipping spate. people were disappointed with the earning. i thought it was final this story was not fundamentally different. i'm happy to own it here could it go lower? absolutely but that's fine. >> i thought micron traded well today, but this is -- i don't think this short vol play that's been going on the last five or six years was rectified in the

last 2 1/2, 3 weeks, i think that's sort of hanging out there. yesterday, last thursday, and i do think vol is here to stay for the foreseeable future, so i push back a little and think that vol is too cheap here. i've in a profit-taking mode. >> i think at these levels with what's going on, you at least protect yourself the vix is high relative to where it's been, but you can still buy some puts and protect yourself >> just something to look at the financials have traded so well, yet a lot of them look like short-term double top i think it's either the place i wouldn't touch that right now, and then the most defensive names, they've such a good run into this difficult market period, this is where i don't want to be buying those tomorrow coming up, underarm mower with its best month since 2012, and the ceo spoke to jim cramer.

he'll join us next. tech is hanging tough and bouncing hard from the february lows, one top technician says a trifecta is ahead. he'll tell us the three tech stocks he thinking are heading to the moon. you're wchg asmoatin"ft ney" from times square in new york city city much more is ahead, after this , trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. oh, that's lovely...so graceful. the corkscrew spin, flawless... ...his signature move, the flying dutchman. poetry in motion. and there it is, the "baby bird". breathtaking. a sumo wrestler figure skating?

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find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. welcome back big ackman revealing exclusively that his hedge fund has been building a stake in united technologies, that sent the stock rallies as high as 2%. what do we think of this, guy. >> they're currently traiting. reasonable valuations, but i mean, i don't know how much juice is left at utx is it going to go higher >> i don't see it going 25 or 30% higher from here

>>. >> what have they done wrong >> if they end up doing most >> it's a very different story but i mean it's a conglomerate that's a very healthy company. there's no question about the legitimacy of their business valiant, herballife, this is a case where you can be an alying, and take a lightly different tact >> think they're all expensive with all due respect to mr. ackman, i'm not sure i want to follow him into anything at this

point in time. >> i think it's a wait-and-see on what actually happens >> why is it a sell signal if you follow them from vrx >> would you rather buy utx when they announced themselves they are doing a very deep dive or would you buy it he's -- looking to do up something >> so i don't think it should get much traction. >> look at general electric, here i am. and flip a coin and see what

happens? >> i think in terms of beta, if you're looking for it, i think it's more in ge than utx. >> he recently announced the stake -- if you're taking new positions, longs at a time where volatility is coming back, who knows if there will be a larger pullback in the cards over the next however many weeks or months, when you're no longer short anything >> bill ackman has the unfortunate reality of being someone who's made very high-profile moves some have worked, a lot hasn't this is not the only stuff he's going long >> out of one or two -- to be --

to tell you what the short is. i have absolutely no inside. he's no longer short herballife. he confirmed that he's out he's completely unwound that it's a de minimis position, if anything that company announcing a stock split, a a share remvp a. change of name as well, but it ends what's a six-year, 5 1/2-year saga that we have followed >> i'm going to take this to the grave in 2013, fight this until it goes to zero, five, six years later here we are. wouldn't it be great in carl eye sawn said, scott, herballife has had a great run, not looking at

it mr. ackman -- >> i'm tendering -- >> tal be great. >> it wouldn't surprise me one built. it's because they wanted the short squeeze. >> hold on a second. can i say something real quick if you think about it, this was five or six years? if somebody was smart out there -- >> here we go. >> somebody should write a book like that. >> oh, that's great. look at that >> there it is, coming out in april. it's coming out in april >> the most epic battle, it gives you a look behind the scenes at all the stuff that happened over the five-years stretch in what clearly -- i don't think we'll see anything like this for a long period of time >> it was a memorable day. for the network, for sure. coming up, underarmour,

having its best month, the ceo just spoke to jim cramer moments ago. did jim believe in the turnaround plan? he's going to join us next. here's what else is coming up >> announcer: as the world grapples with unprecedented volatility, with you group of stocks is physical holding up fine here's a hint. we'll give you the tech names that one technician is calling must buys. plus brian kelly is going to do something no cryptoballer has ever done before it might be change the way you look at bitcoin forever. look at bitcoin forever. he'l (cheers) what's it worth to talk to your mom? returns. capital is to create,

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europe is huge for us, and you request see that -- of course you know the adid i taos story. you know it's all salesforce if you get an e-mail, if you go with adidas story, and talk to a sales represent we're building a single view of the customer for adidas >> that was the ceo of salesforce it is slightly higher. we do have -- let's trade that let's trade that first >> i happen to thing that salesforce are -- i'm sure

oracle, they have such a headstart, that trying to sell it on valuation, is a fool's errand, i think it goes higher from here. >> we do have jim cramer just finishing up that interview. bingo, guys. boo ya i do love that alert >> i think this was the best quarter i have seen in five years. >> like you would expect, this was the real deal. i know the tape is down. salesforce, break out quarter, guy, you're right. the stock is moving up, but why do you think the stock was down or barely higher

i think people feel there is not an understanding -- i don't want too toot my own horn too much, but i've been following this company for more than a decade i parse every single line. this was -- look at this i every sing the metric of every single firm in front of me when i interviewed mark remember, people are very. >> tim, tim -- >> my man. i saw you at 5:00 a.m. if you're going to keep my hours, step up to the plate.

play with chris rock and david, and c'mon, let's close this joint! i'll be there -- >> i realize valuation hasn't mattered when does it matter? >> well, look. he actually has a lot of cash. it's humongous it's just that you have to -- but the cash -- operating cash flow is unbelievable anybody who is in a pure-growth mode knows that this company is in hyper space versus everybody else in the $12 billion range. >> jimmy, stick with us for a

minute i said my tale to feel we have let them take root let us become excellent. let us become that loud brand and that quiet company. >> you know what that said protect this house yes, yes, i think stop, protecting the house but what i saw tonight, he's back, and i think he has a lot to say and do i think he's on the comeback i like the stock there are a lot of people that have sells on it they're betting

against a guy, who is made for come back. you had the business not performing, all these incredible quartering in a row. and a couple quarters were bad then came plank's com about what and here we are today. this brings us to the interview that you do this evening as to why it's so important to check it out like nothing, i got a taste. nike came back with personalization. so ear dealing with a couple

huge guys. under arm mower grew too fast. kevin has put together infrastructure, and he -- i think underarmour, i notice the market is lousy. but the inventories are good, and this stock is down from 50 you think it's bottomed? >> yeah. i guess i should equivocate -- >> don't equivocate. i got one, jim eric boggle was the original protect this house guy great announcement, beck until, you're going to be the meantment speaker. have you started writing the speech >> yes, i have some of it will involve a team that we're all familiar with that plays underdog. my message is about hope

i'm tired of anger, tired of negative my message is a message of hope, and it was when i was living in my car with a gun and a bottle, and i came back! >> really incredible gets. just because we had this sell-off today what was on your mind today >> i think that a lot of people will say to themselves, you know what february is done, let's put it to bet, the earnings are going to be good, but you know what? we are in this 2.8, 2.9 hell i think we have to go to what buffett said, that maybe we should stop reassessing and get into the apple -- by the way, all-time high today, get into the boeings and salesforce

we are missing conviction. i like to have conviction, and i think you can have it with stocks, and let's start with salesforce let's talk about apple how about that boeing? there's real, real conviction going on, and let's forget at our own peril, amazon. >> jimmy, congrats again, pal. can't wait for the show tonight. 25 minutes away. folks will certainly be tuning in on that over the last 24, 48 hours "mad money" tonight. mark ben off, kevin plank. let's trade underarmour. kevin plank is a determined entrepreneur i think the other issues are is he's turned over the management team i think this takes time 22%, i

think it has pressure in the second half of the year. the valuation is not easy here, okay you get a tax, and something like michael kors, here i feel a couple innings are already priced in. >> $9 to 16. >> down 30% in three months. so it's been a run it's been a run. still ahead s. check the one bright spot in the market, soaring from the february lowing one top technician tells you a trillion dollar trifecta could take the space even higher the names are about to see an

even bigger breakout and brian kell mapping out the cryptouniversity you won't look at both the same after this are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors. 1, 2, 3, go. e*trade. the original place to invest online.

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and so when we show up to a fire and pg&e shows up with us it makes a tremendous team during a moment of crisis. i rely on them, the firefighters in this department rely on them, and so we have to practice safety everyday. utilizing pg&e's talent and expertise in that area trains our firefighters on the gas or electric aspect of a fire and when we have an emergency situation we are going to be much more skilled and prepared to mitigate that emergency for all concerned. the things we do every single day that puts ourselves in harm's way, and to have a partner that is so skilled at what they do is indispensable, and i couldn't ask for a better partner. welcome back to "fast money" on a day when the dow fell nearly 400 points. you know what held up well teflon tech. nothing seems to keep it down for very long sings thai

february lows, apple, amazon rallies nearly 20% adding more than $400 billion, as apple looks to become the first trillion dollar mark, our nest guest says there's two names that could give them a run for their money. jeff, how are you doing? >> first apple very close to making as all-time high, i think it did intraday this is the relative performance. we need to get through that number, but all things considered are in place. i think the relative -- if -- i'll get more carb for now things are fine.

>> so microsoft is the next one. it has the relative strength confirmation the trejt is actually strongen than what we have in apple people aren't as hyped up about as microsoft, but i like it a lot. it's another consolidation i think we are right at the verge of that getting through. google is trickier the things that are problematic for google, i'm still bullish, because the trends are good. again we have this relative strength divergence, but look at this gap we need to get it through the gap. gaps are natural areas of resistance, i want to get through that gap if we can do that, i think all three are in very, very good shape, but the relative performance from this point forward will be key. the one thing i would say is tech off the lows have the highest percentage of relative strength >> b.k.?

>> i'm curious how much does that feed into, okay, will this be a double top? >> that's a fair point it's easy to get yourself through. relative performance is really the distinguisher, and usually that relative performance is trailing off for a substantial period of time emphasize those double tops become a problem in other words, the first top has a relative divergence. the second top is just more extreme in that relative performance. and we're not seeing that with any of those yet. >> jeff, thanks so much. back in your bear suit now on tech? >> no, no, listen -- not necessarily. >> we're at the market highs again. i don't want people to make the same mistake, which is buying

high and selling low >> b.k. brings of a contingent point. for example, microsoft, which traded up to $96 sort of in january, came off, traded back again. would you rather buy microsoft here, or on a break out of 96. i'm with b.k. on this one. there are some double tops you have to be respectful of hi's wearing a lovely suit. >> but it does zip up in the back. >> that's twice. >> at the look, i think when it comes to apple, and good job, guy adami, we had a special. you're talking about which companies are worth buying in this environment they have a lot of cash. apple. brian kelly like you've never seen him before. taking your tweets just a few moments

you're watching "fast money", the one and only timesque. sar don't go anywhere. we'll be back after this short break.

in the s&p 500 there are 11 sectors, but did you know the same can be said for cryptocurrency sits? it's true. b.k. has broken down the university in a way it's never been done before check it out. >> bitcoin, what is it and why is it so popular why the heck are the kids so into it? to understand those questions, you must like beyond the bitcoin and to the broader cryptouniversity you see bit counsel is just the biggest of it's a world unto itself and its own market. just like the stock market it has its own organization at structure, so free our minds and map the universe together. it can be broken into large cap, mid cap and small cap coins. the biggest and most widely owned cryptos are bitcoin and

ethereum typically they are about above $10 billion in market came these trade, there are mid cap and small cap. much like the stock market, they comprise the vast majority they range in valley is to 10 billion in market cap, and small cap represent some promises projects and others that probably shouldn't be touched. it's not just the size of the coin, but how you use it therein lies the key distinction. coins have uses. some like bitcoin use for payment. others are used for storage. there is still categories. payment, prist privacy, storage, smart contract platforms, lending,ens changes, special payments

inter-opera ability. now that you know the cryptouniverse, you are free to begin trade. good luck out there. >> how should you apply it to create a portfolio >> when you look at your portfolio, there's thousands out there, so let's break it down. this is how -- i want 30% in the currencies that's where i talked about the bigger names like bitcoin and ethereum the other 30% you want in platforms, which includes in it ethereum, but the platform, that's where the new apps are company. 10% in apps, 10% in exchanges, that's where the money is being made and 10% in hybrids here, which are coins that can be used as a currency and a platform

let's break it down. so here's our crypto portfolio currencies, you want bitcoin, bitcoin cash and litecoin. those are going after the big case of global monetary use. in the platform area, ethereum, ethereum classic, eos and neo. new things are being developed thousands of people are building on top it. zcash, monero and dash, those are not used just for -- people you don't want to see it, but if you're a big company and you don't want to show things are moving around the world. let's look at the second part. when i look at app, i want to look at things that are solving real-world problems. in here, the storm app, that one i love, i'm a holder metal solving a real world problem, and salt is in lenden

that's very interesting as well. here's the exchanges i mentioned. binanci, zerox and polymath is -- they're like the investment bank. so they're bringing all the deals to the exchanges finally the hybrids, i call them ripple and stellar what's interesting about these is not only can they just be used as a pure currency, but you can build, so you want to be involved in those as well. >> of the 12 sectors, enter-operability is -- >> right now the sector that's using the most is most likely a supply chain with hyper ledger. >> i was going to ask, b.k., if folks at home are terrified of crypto -- you mentioned ibm, but overstoke has sold off can you do a basket the traded

equities with amd, invideo, overstock, do they fit into that world? >> they certainly do you get more interprize exposius, but yeah, you can put it together a portfolio like that. >> karen, quick? >> they all seem to trade together, though do you think we'll see differentiaition in the stories? >> i do think so eventually, as this asset class matures, but i agree with you now, they all definitely have a high correlation. >> b.k., we do have tweet. adam asking -- how much of your portfolio should be held in cash or u.s. dallas wallet? >> if you're bullish, it should be zero% you're taking a small portion, 1% to 5% and putting it in this asset class. that's my view i wouldn't hold any cash necessarily if you're bullish on this space. >> another one -- what's your opinion on the safest ways to store it for the long term >> cold storage, there's a

couple for options there, zappo, bitgo has a great option, or you can get a ledger and doled use own cold storage, but that's the key here. coming up, the one story that some traders say could tank we're going to give you the name and tell you what has them so nervous, right after this. you might take something for your heart... or joints. but do you take something for your brain. with an ingredient originally found in jellyfish, prevagen is the number one selling brain-health supplement in drug stores nationwide.

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big moves. >> in best by, by about 3:00 today, and that's a lot for any stock. which is normally about fairly volatile the weekly 67 puts it's right about here. for almost 3,000 of those traded, then late in the day, we saw it by about 4,06 -- 62 in which put spreads. that actually is betting on a move that might be even more than 9%. >> may i ask mike a quick question put your trader cap on united states we have -- would you be incollide to build that stock, understanding the

valuation is reasonable and there's a high short interest? that's a good point. the short interest will put a floor in you're likely to get short covering, plus the options premiums are so high, if we get down to that level. >> you're an options trader. >> i am. >> so put your trader hat on. >> first you snickered that that was a good question, as if i've never asked a good question. scott, which with can we see your show? >> when can we see a great show about options? >> fridays, 5:30. >> they call it options action, starring mike khouw -- his could probably do -- probably do -- doing final trades next.in .

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you. you buy the bitcoin here. >> dance with the girl you brought to the prom. before we go to break, mike, you're trading well. in ujos tomorrow don't miss my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach so call me at 1-800-743-cnbc or