out. >> what was the swoosh thing they did for the broncos. >> a three point stance they made a swoosh. >> all together. the way they were bend of we will see if they come up with more clever tactics like that. thank you we will see you tomorrow and see how the market recovers overnight that does it for "closing bell." "fast money" starts now. >> "fast money" starts right now live from the nasdaq market site overlooking new york city's times square i'm melissa lee. traders on the panel today -- tim seymour david seaburg, david kelly and guy adami. tonight on fast, twitter is. >> at thatting after andrew less says it is about to suffer a worst fate than facebook could it be a chance the buy the stock? the traders weigh in general electric is having its best day in months we will tell what you had investors running to the stock first we start off with a selloff on the street. check out the nasdaq 100 mid day selling the off hard and taking the rest of the market along with it.

all the major indexes closing near the lows of the session since the tech sector hit a high on march 12th it has been down from there it is 9% from its 5 the week high it has lost market cap as a tech trade unravelled, if so, can the market rally would out, guy >> i will go backwards i don't think the market can rally without technology i'm not certain it's unravelled yesterday. tim on the this facebook i thought facebook bottomed a couple of times. clearly that's not the case and the problems in technology seem to be more than facebook they are individual stories. but the volatility we are seeing on friday at least i said i think this will be the most important week in the last five queers year for the market stand to that. the reversal we saw today was staggering in terms of the broader market if technology is going to give up the ghost the 2585 level that held so well last friday and got us a rally yesterday is absolute any in jeopardy coming over the

next couple of days. >> if tech haas hasn't unraveled it has gone through a one-two punch. the business models of the some of the biggest companies out there, the ones that dominate the nasdaq 100 are thrown into question and one of the fastest growing sectors powering the tech sector is being questioned to. >> nvidia is crushed it's still up 15% on the year. what you are talking about is also justice -- i'm not a technical guy but i use technicals to guide posts we have great ones. we will have one on tonight. it's getting down ward sloping 50 day moving averages it means we have been at this long enough that we've changed the ten. 50 days effectively means if you think back to where we were early in february -- this isn't about trying to say i told you so what i have been saying every day is we are not going to tie a bow around this. there is a lot of things going on as you are talking about, did we think we were going to be having this exessential view of the

tech sector, grow at all costs, who cares? two weeks ago it was steel companies? did we think steel companies were going to derail did we think it was going to be gary cohen did we think it was going to be rex tillerson? i think the 700 move reversal of yesterday's 700 move up, markets aren't supposed to do this i think investors need to be careful and not try to trade it day to day. >> there was a perfect storm set up you have every massive i trade tesla, google. ultimately you have got all the social media names basically derailing including twitter. the set up is terrible from technology in sentiment. do i think it lasts longer i do do i think the market can rally without tech absolutely but where is the leadership going to come from we have to wait until earnings that be the the tell tale, you

are going to get trading bounces you should be able to play. >> with something like google, possibly one of the names that people haven't looked at their business model is in question as well they explicitly sell your data for advertisement. that's what they do. i don't think people are going to stand for that in this environment. google broke the 200 day moving average. closed below the 200 day moving average. if you are looking for guide posts that's not a place where i want to pick anything up in a weak market. i want to stay out of the way of tech auto i'm not sure the market can rally. tech was listen this is the only lays we are getting growth, this is where we are going. if you are throwing that into question what else can be the leader i don't see anything. >> if it breaks 1,000 i think it's lights out until 885. thinking of facebook, the issues they have, the reason google got into the game is facebook sathe

facebook is giving us all this data, you should as well >> they sell your data that's their whole business plan. >> i'm telling you they are not doing it to the extreme that facebook does. >> tim. >> people are waking up today and saying i'm on a free platform and they are not using my data for something is idiotic. i'm not condoning what facebook did. i think there is actually a lot of room for disclosure this is about privacy and hopefully the companies can regulate themselves to the point we don't have more regulations the most private company will win. let's talk approximate the market because i think tweel have time to talk about facebook and tech later on in the show. when it comes to market we broke 280 healthily on the ten year. we are at 287. think how short rates are, global macros are. if you don't think they are short, too, if you don't think

there is pain on both sides of the market -- >> the yield curve is the flattest it has been in the ten year cycle that we have seen add it, technologies, and technologies, the two biggest sectors of the market flat on their backs right now. >> add on top of it. we are not going to get into the weeds here a word called libor that everyone is waking up to now. and you go to europe and deutsche bank makes another 52 week low clearly a stocks that underperformed for some time we tacked about that is it thecanary this the coal mine there is clg clearing something going on there bk said it a number of times you are talking about the biggest derivatives book of all time i am telling you a bank the size of deutsche bank if it wasdom sild here in the united states we would be talking about it every night. >> their balance sheet is bigger than the gdp of germany.

that is an issue we need to keep an eye on. to me it's the fact that their funding costs are going up right now. they have a massive derivatives book, the big nest the world and that's netted. >> to bail -- the ecb can do nothing. >> the bundis bank is the ecb. >> i'm saying their balance sheet is bigger than german gdp you would have to print a ton of money to bail them out. >> why i think the ecb is somewhat city council here back to the market what happened in the last two days is extraordinary. >> what was extraordinary. >> it doesn't feel like the first quarter of 2016 but seeing 700 point reversals routinely back and forth it is a not just markets with going down. markets are going up, markets are going up. >> 2% up and 2% down back to back. >> this is sentiment it has nothing to do with the corporation and earnings think about facebook >> at some point --

>> i have been straight on facebook i have been hands all over saying sell the stock and i a void it but there is a difference when you are approaching earnings system about a business -- their earnings are going to be five. >> fine, their earnings. hold on. let's say the earnings come in fine for the quarter how about conference call? what are they going to say you don't think they are going to talk about regulation in the eu as well as here if engagement shifts meaningfully that's a problem. i'm telling you earnings is going to come around and they are going to print a good number. >> this whole thing isn't going to impact engagement. >> i have said sell the stock and don't jump in head first but there is going to be a prays price based on valuation when they are growing earnings at 40%. >> what's that price. >> more broadly. is earnings season going to be a savior of this market? >> i don't think

think about when this volatility started. in late january and early february, and it started to an friday when we had a jobs that was outstanding but we had a wage growth number we hadn't seen in many years that put the fed on the table and that's when this started i said it last night i can't spell tariffs in late january. and facebook was not a story then that's the convenient story. to me the backbone and where all the foundation of this volatility was built on that february 2nd and the fed is absolute any in play. >> for more on today's market reversal let's bring in the portfolio manager with federated investors. welcome to the show. do you remain bullish here >> we added to equities yesterday. there is concern out in the marketplace but our view is this you are right, the market has imagination when earnings reports aren't coming out daily but we are about to enter the best earnings season since 2011. the 2018 earning estimates risen over the last six months

-- >> you are talking about rearview mirror, though, first quarter earnings right. >> q 2 is supposed to be better than q 1 and w 3 better still. >> haven't stocks priced that in >> the market has gotten cheaper on that. we are down on the year. as we look at it there is opportunities for volatility it's fixated on trade and inflation. inflation hasn't come through. on trade it looks more like negotiation than reality the positive stimulus in the reality between tax reform, repatriation and regulation is three times the cost of tariffs. if you have got a strong earnings background or strong economic background there can be volatility but you have got to take the over. s that our view. >> do you like tech? >> the story here is that we have agreed implicitly to sell our data for commercial purposes or better advertisements

we have not agreed implicitly for electioneering purposes. part of. >> do you have questions about the business model. >> i do. i think big tech is where financials were about a decade ago. they have to decide if they are going to self regulate or invite the government in the door to do it for them. >> i feel like the horse leif the barn on that one you have every reg laitdor on the continents breathing down their throats, wanted mark zuckerberg's head on a silver platter delivered to parliament and to congress. >> i wouldn't disagree in terms of facebook, yes. if you are google and amazon if you are apple i think you can play up the fact that you protect data better than your competitors. >> concerns about technology, you are still ug bullish so you think the markets can rally without the biggest sector of the market. >> in q 1, there is still growth in semis and that sector

in q 1 we are expecting growth across all 1 sectors six are going to grow by double digits we think it is time for a new group to take the mantle it could be financial but we don't think the market rolls over and dies. >> we were just talking about the yield curve being extreatly flat. >> i think we have new buyers coming ago they were dividend darlings a decade ago yields could move 2, 2.5. that strikes me as an opportunity. >> you are not concerned about earnings growth slowing down what does concern you? let's say we have q 2 come in and all of these companies all of a sudden warn is there something you would like for in a big picture mock row that say you know what looks like earnings aren't going to be as good. >> inflation has to come through. a market pick up in inflation. the core cpi innocence our case is based on a gradual

grind up of inflation and rates. not a sharp pick up. if trade does that if you have an exogenous shock we would do that absent a shock in inflation we are bullish. >> are you valuing the cost of equity or the risk environment differently than you were three months ago i am. >> mike tyson everyone has a plan until you get punched in the face our job is to be disciplined we came in with the thesis that earnings were going to grow at a meani meaningful pace and we wanted to choose the sectors based on that and every time the market pulled back we added to that part of the market. >> at want point does it worry you that being disciplined is the same as being dag mattic >> being disciplined and cowardly are since of equal nature we have a fundamental view you have to undermine that fundamental view for us it's earnings and nothing has undermined that view.

>> i think you led it off i was right. maybe i'm wrong on that. >> i didn't hear that. [ laughter ] >> tell us about facebook again. >> we talked about the selloff within large cap social media and mega cap tech. i am on the same page with you i think it is a sentiment shift right now. i believe there is a time before earnings you can step in and buy these names and make some money. >> go for it i don't know what price -- enlisten, i agree that we have had a sentiment shift. until that either gets extleemly bearish and you see a reversal day or see a sentiment shift i don't think you step into the market you don't have to be a hero here the answer is he would tenant know what is going to happen, how trade is going to hit, we the know how earnings are going to be impacted why buy today. >> what do we do today. >> i hedged up a little bit. necessary it's notes in e -- i should have done it yesterday. one thing that hopefully is

instruct i. i don't think you are supposed to get more complicate in the this environment. i'm stressing simplicity not doing a lot. i think the risk environment has gotten worse and i would remember have hedged up around that. >> guy. >> pharmaceutical. pfizer traded unchanged. there was a large technology name that i will not name -- that's called a tease that we will talk about later in the show that made a all time high today and closed higher on a lousy tape >> i think i know what it is. >> continually press to twitter. i think it's going to go lower looking at google, if it hold here i am not going to be comfortable. >> twitter is going lower but facebook -- >> twitter is totally different. >> how >> because they are selling they are selling and profiting from the data versus cultivating. >> a different platform. >> absolutely very different. >> isn't facebook effectively selling the data and making money? >> the data they use to better their platform is one thing. selling it in making $300

million at a 90% moinch margin. >> how does selling ads better their platform >> facebook. they are both selling their data >> they are cultivating -- there is a difference between the way facebook uses and it the way twitter is using in this one particular area. they are seg it, getting $00 million in wretch. it is a 90% margin business and frarchly i think that goes away. >> you don't think facebook -- >> charity >> look at the the multiple. twitter is crazy valuation here. it's nuts. >> anyway. coming up, it was an ugly day out there on wall street a top technician says there is one chart that has him pounding the table. he will be here to tell us what that is. an unexpected bright spot in today's market general electric having its best day in months. later it's been roadblock after roadblock for the self driving car market

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hey maya. what's up? hey! so listen, i was taking another look at your overall financial strategy. you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. i'm all ears. how did edward jones grow to a trillion dollars in assets under care? thanks. by thinking about your goals as much as you do.

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electric managed to post its best day in more than two moths. shares jumping 4% over speculation that berkshire's warren buffett for another big investor might be building a stake in the industrial giant. the company has struggled to convince investors of a real turnaround plan each with a new ceo at the helm. with ge still down 23% this year is this stock worth the risk tim says yes you are an owner. >> i am an owner i opened it late in the game i'm down 25% in a position that's insaying can't to me in terms of its size. i think ge has intrinsic value that people aren't pricing in. say it's going to earn a buck. what multiple do you put on it if you put 15 times on it it should be trading at $1. when companies are making no money do you value them at zero? i think investor sentiment has

been so one way on this. buffett, may be, i prefer the say that the stock did nothing when the stock market rallied 700 points the dow and i think today's catch up with a rumor. >> for me, i have tried to own it several times this year and i have probably lost 25% on my trades in and out of them. it's broken my heart several times. my thesis has been you have to wait on ge. >> that's a big heart, brian >> thanks a lot. >> big heart broken >> i don't know what i was doing to same i was going to say that my thesis has been you can'teck get back into this name until somebody like buffett comes in i was kind of hoping buff etd would come in secretly and then you would get the spike up and go along with it i do think at some point somebody like a buffett or value player is going to scoop it up using to's low as your stop out point you can get in >> bk -- like the meat loaf song you took the words out of my mouth. >> i thought it was the first

cut is the best cut. >> not. >> that's rod stewart. at least you know what your risk reward is. if nothing else, the 1280 level now provides you with a nice floor to trade to gains. >> it is dead money. the trading uns bounces. if you have aboutette gets in, great. but it has less than 90 cents in free cash flow the story is broken. takes a long time to fix it. >> what if they sell their data? ha, ha >> coming up, are the wild market swings keeping you up at night? don't worry, we have got you covered. guy adami will break down a three-point plan on how to trade in a volatile market later this hour i'm melissa lee you are watching cnbc first in business worldwide. here's what's coming up on fast.

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"fast money" stocks getting slammed arizona a midday reversal sent the dow reeling back into a correction let's get to babb babb for all the details. hey, bob >> melissa lee it was another chip saw session for the stock market a 700 point range in the dow. even by the standards of the last two months that's a lot of the what's going on? two issues emerged in the last month that may or may not have an impact on earnings. first, the trade war stories they ebb and flow every day but everyone agrees that an allout trade war would be detrimental

to earnings it's just not clear if we are going to have one or not of that's creating confusion. second technology has been a market leader around fang stocks and semiconductors both are having moments of doubt and pain right now the recent crisis in social media stocks around facebook has led many to question whether user engagement and advertising will lessen not just for facebook but for other social media stocks as well as google, slash, alphabet. now that could definitely affect earnings then you have nvidia's announcement hitting other semis today with skin this the driverless car game. all dropped. that's a separate worry. markets took another downturn in the last hour when the treasury yield drops to 2.8%. everyone is suspicious what that could mean slowdown overall that brought down bank stocks, another major component. bank and tech. both weak.

the overall mark drooped what does it mean? there is more uncertainty in the market uncertainty about trade wars, technology, and uncertainty about regulatory actions of the it's all a toxic stew right to you for the market leadership group. melissa lee back to you. >> bob pisani at the new york stock exchange on semiconductor group when you think of autonomous groups you don't think of some of those names that bob put up there. are there chips that got thrown out with the bath water today. on a day like today people look at the valuations and say there is no way they make sense. nvidia is on the cutting edge of the semii sector where a lot of the chips are used in ai ai is everything it's everything tomorrow autonomous is going through understandable difficulties right now on the regulatory side it should to the knock these

guys snun micron for instance. >> intel -- micron -- i thought the quarter for micron was outstanding. i'm not sure what scared people. i think what scared people is the fact if the china did retaliate, they would do it in terms of flooding the market with derecommend and that's going to be detrimental to micron if you look at it on an valuation basis it's cheap and what is it called when you walk over to the plasma. >> fast pitch. >> that's what pete did the other day. swell obviously down today on a bad tape if you are asking for stocks that should not have been thrown out with the rest gang. >> which they did, two days ago, last friday. >> our next guest says there is may be a buying opportunity in one of the sectors chris, tell us what to buy amidst the selloff. >> quite a buy, especially with are the pt to the broader market something we see in corrective phases you have to get to a point where there is a lot of fear out there

the wayly look at that is through put calls. finally over the last couple of days we are getting a meaningful spike this the put call ratio. et cetera a not dissimilar to what we saw january/february of '16 and similar to what we saw near the lows in 201 footbally at the timing some sense that sentiment is getting flushed out of the the other thing we have noticed over the last several days here even as the market traded lower the internals have actually gotten better only 15% of the s&p made a one month low today. it peaked at 80% in february as the market traded lower, internal conditions improved over the last few days lastly, what looks most actionable right here, financials are the most oversold, just 6% of stocks before their 50-day of mooing average, going back to that january/february of 2016 bottom.i think we are getting close on some of the bank stocks jp morgan near 102, 103, bank of mank we are in the ball bark of

putting in some lows on in bank names. >> chris has to come over. >> we immediate him today. >> oi a day like today we need a technical analyst. >> he is actually working his way up to the pantheon. >> it takes a long time to get into the part none you have to wait on line and buy tickets. >> all right when you pull up the chart of the ten year yield and the two year yields what does that show you? does that matter to you, that spreads are awful right now for the bank. >> let's talk about the two/ten curve. there is a conception that banks can only work when the curve steepens it is a historically false we went back half the time it's declining and half the time it's steepening. >> let's break down more recently it feels like when the ten year yield down and the spreads compressed that banks trade lower. >> put this in context when we saw banks trade lower in 2010, 11, in 15-16

those were the bear flatteners that was the curve flattening because bond yields were moving leer over the last year the curve is flat because the yield has been higher i don't think it is the worst backdrop for bank to work. >> libor has had a huge move, highest we've seen it. i bring up 'ol because it was '08, was that a warning flag. >> he would can't ignore it. any time there is stress in credit we have to pay attention. we want to know what the margin issue is doing the moirngal credit. i like to look at the spread between high yield and investment grade that's still stable here the high yield issue isn't being treated any worse than the investment grade issue i think at the margin libor a concern, yes, has it spread into high yield corporates, not so much that's a big difference from some prior selloffs that we have seen. >> okay now we are on the heels

of having digested a punch of 2% up or down days on the market. has there been damage to any sector or chart that you are watching >> i think this is all part of the process. the best stocks always go last in the corrective phases it is not a coence dense they are selling tech here, banks here the best ones always go last when we oak look at is individual sectors, the fang names, inthe damage we have seen in facebook is significant that said, put volume in facebook the last couple of days is the highest on record the stock can probably bounce here, maybe 170, 172 but we have to imagine it is dead money up there. they will get that bounce, there are a lot of interested he will issers i would guess this the 165 range. when you see the huge spike in put volume you probably don't want to press shorts. >> chris verrone of stra teaguis. >> financials are interesting. you look at xlf. there is serious support to

every the last two or three months if you are going to take a stab at something at least you know what your risk/reward is in xlf. it has been a market leader. we do know -- chris was talking about over the last 80 years the yield curve hasn't necessarily mattered tony dwyer talked about the fact even when the yield curve inverts you still get 18 months or so of positive returns. if if any place wanted to jump in it would be financials. >> i think the yield curve matters. it's important but i think the variable of cost cutting, the variable of deing arelation for the regional bank especially is person to keep in independent moo. the cost cutting strategies. the balance sheet cutting from constrictive strategies before that's the tail win for regional banks and some of the larger names. >> i agree with chris. if you correlate bank spreads to bank prices, on a flatter yield

curve they were making a ton of money. they are geared toward libor and the-year-old curve the down ward sloping 50 day is not a disaster it's harder to suddenly break higher it ensures you are at this a little bitter before you start to turn around. >> still ahead, does all this volatility have your head spinning don't panic. guy adami has three simple steps to trading a wild market he will break that down later on in the show. plus twitter tanking today, entering a bear market after short seller andrew lef slammed the social media giant we will hear the comments that sent the stock reeling much for "fast money" after this and plant food. together, they produce three times the harvest to enjoy... and of course, to share. this soil is fresh from the forest and patiently aged to guarantee more of what matters...

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you. welcome back to "fast money. nvidia and tesla tanking today as the companies' self driving struggles get real >> mood east out within the last couple of minutes downgrading the credit ratings for tesla talking about the credit outlook being negative in part because of cash flow concerns all the thing we talk about yesterday when we talked about the model 3 production ramping being slower than anticipated when you look at tesla, other negative headlines today we have talked aboutthis, that we are in that period where you

may see negative headlines one of them coming today which sent the stock down almost 5% when it first came out is news that the nts san bernardino will be investigating the crash of a medical x in california on friday is not necessarily that the nts san bernardino is investigating the crash. it's that they are looking into the fire with the model x afterwards how long, how intense was burning. the efforts to secure the vehicle. we talked with the ntsb today. i'm not sure there is a lot you can look into it aside from their looking into it. and what it comes to responding to crashes with the electric vehicles. >> it thats to do with the battery being this the front. >> the battery is in the bottom. it slid into a barrier they don't know if it was in autonomous mode. had he we talked to the ntsb

they made it clear they are not investigating whether it was on autonomous moder not what they are looking at is the intense hit of the fire what is involved in securing the vehicle for first responders that's going to weigh on the stock early in the day with regard to nvidia, they have announced it is suspending its autonomous drive test program on public roads remember, nvidia's technology is in the uber vehicle, and uber vehicles, and uber had the accident last week in arizona where a woman was hit while the vehicle was in autonomous mode so as a result, nvidia saying we are not going to be doing the public testing sure they are still going to be running the simulators, et cetera that's also weighing on nvidia today. as long as we are talking about self driving cars one of the announcements from new york came from way mo announcing it has struck a deal with jaguar. by buying 25,000 suvs, they will

have the distinctive dome on the top which has the cameras. and waymo believes this vehicle will be huge in terms of its expansion of autonomous drive ride sharing here in the united states starting in 2020. >> tesla seems to be at the cross hairs or the center of all of these sort of cross currents in that the ntsb is investigating. i would imagine in a the questions could remain about the battery, about the structure of the vehicle. >> sure. >> all of those questions remain unanswered right now in terms of waymo over tells la that could be perceived as another hit to tesla and then the last one, about nvidia suspending all the tests -- >> right. >> i mean, this throws into doubt also tesla's self driving car feet. >> auto pilot. we are in the messy transition you are right about tesla. tesla, we tacked about it yesterday. they have all of they negative

headlines. >> on on the of delivery struggles. >> weighing on the stock in terms of sef driving vehicles we are in the messy transition we will she more accidents unfortunately we will see more fatalities the bulk of the accidents involving these vehicles have been resulting from humans hitting the vehicles we are the idiots. and there is 275 million of us out there drive vehicles so it's going to take a while until we get past this and unfortunately, when you have your first fatality it's going to get a lot of attention. >> you have been cover this beat for a long tied. is tesla an auto company or technology company in your opinion from the people you speak to >> technology company that is trying to ramp up and become a full service manufacturer transportation company when it comes to automobiles but there is no doubt that i think -- i looked at it as a sec following company in part because they are spread out into so many areas. >> can i ask a follow up on that if it is a technology company

are other oems, other large traditional auto companies also becoming technology companies because they are arguably on the same path. >> yes, they are, unfortunately they have so many of the legacy issues that are attached to them that investors don't view them that way it doesn't matter that general motors has some of the best technology that's out there. you talk with people in the auto industry they will tell you that they also have how many different plants here in the united states and around the world. and those legacy issues spook investors. >> i have a hypothetical question for you if tesla is a technology company that's trying to ramp and become an auto company effectively, should the multiple come down? should it be closer -- should it move closer to an auto company, not be an multiple -- >> technologies are priced on expectation of future market future growth. when they are looking at whatever people mum multiple they are paying they are paying it for a reason, for excoug.

i look at production it is a huge is it priced in right now, given all the negativity in the story are we pricing in right now worst case scenario on production on the model 3. >> we have been failing on production for years and the stock has been going higher so we haven't been pricing it in at all. >> it doesn't matter >> he is saying it's priced in >> i don't think it's priced in as well. >> we have got an april delivery -- elon musk tells you we are having trouble here and we know that they have trouble even though they got better toured the end of the first quarter. the rob with the stock and the move today in addition to all those things you are pointing out is if they don't make that production number, the investors are going to assume there is a dilute i dilutive factor coming around the corner. >> you have seen this before you try to talk to a tesla investor it's like the sky is

blue, no it's orange >> they said 2500 a week by the end of the week. and we are at 1,000. >> they should be building 2500 this year. >> the street is pricing in 1,000 a week right where we stand looking at the vin number tracking it is 1,000 a week if we come in at 1,000 aweek, does the market continue to price it down or is it priced in >> i think it's priced in. >> i don't think the market cares. yeah we have headlines but the investors are looking at tesla maybe it is a technical. i label it as a venture capital deal you are talking about things that are going to happen in the future they are going to build out these markets. you are talking about decor bannizing the electric grid here in the u.s. >> fancy word. >> that's why people are in tesla for a ten year time frame. >> the move in tesla is this simply story of derisking in the market or a tesla specific story. >> we have a chart pull it up i will tell you as i have

mentioned a number of times. 2014, 280 was the high 2015, 280 was the high we are close to 280. that is support. if you are looking for risk/reward. it sets up ben callo thinks it's going to half it is going to happen quickly here >> two days in a row >> how about three can we get you tony. >> i am in town for the auto show. >> james cramer will be sitting down with the nvidia ceo in an exclusive interview on mitt romney at 6:00 on thursday >> andrew leif slammed twitter and there is something in the charts that points to more pain. volatility returned to the markets with a ven gans. if you are worried about your portfolio don't be guy has three steps to trading on a tough continue. >> that's scary. >> much more "fast money" ahead.

welcome back to "fast money. andrew leif striking again, this time taking aim at twitter the stock falling 12% today after he accused the social media platform of selling date audio information from direct messages twitter responding tweeting twitter is public by nature, public tweets are viewable and searchable by anyone this is the power of twitter to be clear, our data licensing business does not sell dms -- direct messages, any reports to the contrary on wrong. andrew left appeared on "closing bell" earlier today. here's what he had to say.

>> people woke up to the privacy issue last week but it's been long standing. thou one cared about this. so going forward i think at these multiples twitter becomes uninvestable until' see what happens, until we see the changes being made in the social media space. >> so, will twitter face facebook's woes? >> look, i think it'sanish uchl i talked about this. they weren't selling dm directly but they are absolutely cultivating and taking their data and selling it to third party vendors to use for different reasons. very different than facebook using whatever data they compile and creating a value to sell to ad buyers. completely different sell their data to vendors they are getting a lot of revenue. >> 15% it's 15% of -- >> to say twitter is uninvestable right now it makes no sense to me

especially when three weeks ago we were talking about a company -- maybe you weren't -- that is finally making money and profitable let's be clear if the you are on a plom that's free the use you are the product. essentially you are not paying for a reason or something like netflix. date is being used that's being sold no one woke up today and was surprised by this. >> i would also be very careful about selling short this stock or even not buying and saying i can't buy it based on a single report that the company itself has specifically refuted saying we don't do this type of thing so i think to be clear, i think all social media companies, including google, anybody who sells your data is going to be in cross hairs but i don't think -- >> you don't want to touch any of them right now? >> no, i think there is going to point in twitter that you can buy but i don't want to touch anything until this washes out. >> let's get out the mike khouw in austin texas to break it down >> four times the average daily put volume, the most active with

a week' spread 10,000 of those trading for a you can about. they were trading higher by the end of the day those are bets that are going to be lower by the end of the week. options premiums are higher than they have been looking for moves on average of 3.5% per day for the next 90. >> a remind he we have off on friday for good friday. >> will they run oa reruns on friday >> still ahead, stacks getting slammed as volatility takes the market by storm. three simple rules to trade these wild swings. we are live at nasdaq market site at times square don't go anywhere, much for "fast money" ahead >> "options action" is sponsored by think or swim by td ameritrade oaches?

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welcome back to "fast money. it was another wild day for the markets. the stock sold off into the close. with the dow entering correction for the second time in a week it seems like volatility is here to stay how should you navigate through the wild swings? guy is at the plasma with a segment we like to call more you know. >> thank you for having me at the plasma there are they things i look at. keep calm. that's not meant gob glib. the great quarterbacks are able to stand in the pocket and make the game slow down around them when everything is speeding up they slow it down of that's what

you should be trying to do now slow things down, keep calm. number two adjust to the market conditions what does that mean? tim spoke to it earlier in the show trade the markets -- heightened volatility i think it's here to stay. what he you have two strikes what do you do you shock up on the bat. >> i try to go the other way with night try to go the other way. go with the pitch. that's what we do in trading number three, look for a tell. that's going the take me to thy my chart watch how quickly it turns watch. see the magic of that. what is a tell folks i will give you a tell what had been under pressure what is 23% of the market, the s&p 500. technology technology gotobliterated today. but ahh, red hat a stock that made an all-time high today didn't, actually closed higher on the day in my world that is a tell i'll going to try to draw a line here work with me look what the we have here look at this nice trend line

from the lower left to the.er right. that folks is a tell you should look for those things on days where the world goes hay wire there is always opportunity. back to you melissa. >> what likes red hat. >> that was impressive. >> who like red hat. >> how about his line drawing ability. >> look at that, it is a free hand and it's straight as an arr arrow. look he did another one. a channel. >> a channel. >> you are in the part none of technical ability. i like that it traded high in a market like that that to me sticks out. >> leadership is the last to fall i mean, i think in this environment if you like the valuing ared hot and like the i don't have all story as guy stayed be calm and stay in the trade. this is an environment where i think multiples that don't make sense are not going to make une, natre. >>p xtfil ade.

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well that's that's your job i guess. ♪ time for the final trade, tim. >> gm. i think it has been barted very cheap >> 32. >> just from a technical set up. google if it holds 1,000 after the stock opens, i think that you buy it. >> brian kelly >> we have had equity volatility, bond volatility, what comes next? currency volatility. you buy gld to play that. >> i like the more you know.

red hat peace to be lower in the after hours. moat that one has a moat. >> i'm melissa lee thanks for watching. see you bam here 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 save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. take away the big themes, you abandon th