>> yeah little question about the capital marketings and growth in europe and these things are insulated >> -- done so poorly. >> yes affirmative action in market form. >> we'll see how that translates to tomorrow's session. for now thanks for joining us everybody. that's it for "closing bell. "fast money" starts right now. >> over looking new york city's time squares tonight on fast stocks getting slammed today but check out this start. does bitcoin hold the key who t.o. where stocks are headed next one of the largest bit traders saids yes. and drama and disney why are some trader still bullish on the names first we start off with today's big selloff. you hear the dramatic music. italian turmoil sending shock

waves around the world the dow dropping just over 500 points as the lois of the day. fears another another european debt crisis rips stocks here traders are buying safety. check out the collapse of the 10 year yield as traders jump over themselves to buy bonds the biggest jump since brexit nearly two years ago are we seeing the beginning of another serious nking crisis in europe. >> all you need is the catalysis catalysioliseum. you should have knee roe thernee nero. so my concern. russell unchanged today. chip stocks did well obviously this was all in banking and i'm not going to pretend to be some expert in italian bonds. i am not despite by italian heritage. >> i'm italian too.

>> yeah. this is not -- nothing new here. what i will say is is this and something we've said for a while. deutsche bank for me is ground zero for all of this it is clearly something is amiss there. the question you have to ask yourself that i still don't know the answer to is deutsche bank and deutsche bank specific problem? or is there systemic risk there. my sense is the ladder but the market until today says otherwise. >> across the board. credit squeeze rbs, all lower on this notion or fear that perhaps they are holding some of this italian debt 20% of the debt out there is owned by the ecb 30% by foreign investors who those investors are? that is a question. >> and j.p. morgan had small bounce at the end but basically close at or above o 200 for the first time since july 2016 this move lower for the financials, started a few days

back ultimately do i think we're going to have a 2011/12 sovereign debt crisis? i don't think so you have to have a confidence vote this is going play out in italy and in fact probably the earliest yes get an election is late summer or 2019. so this is hanging over the markets. >> but italy, we have to all become pseudoexperts on this when you look at the italian economy and overlay wit greece, it is 10 times the size. does can it have the ability to become more systemic or more pervasive? >> yes >> it does. >> i don't consider myself pseudoanything, steve. but bottom line. >> it was a rhetorical question. and you answered it. but go ahead >> look at the european pmis the confidence indicators.

the best in seven years. the number this is year are almost as close. the european pmis were out pacing the rest of the world. >> been a problem since 9199. >> i understand that but not since 2009 when unemployment leveling were record highs and you had these magic budget deficits. you have a dynamic that things aren't that bad there. >> we're looking at separate issues the european banks and what their exposure might be in terms of holdings but as for the u.s. banks the holdings are nil you have j.p. morgan and morgue substantially talking about second quarter revenues being flat and also look at a very flat yield curve partly because of what's going on in italy. so how do you trade the financials here? because supposedly we had all these wins of the financials backs in terms of the better rve.omy d steepeni yield we don't have the yield curve. the global synchronized story is

in question. does that change your view. >> today i, i own a lot of banks. it was a very painful day. i don't think the bank crises tend to be one or two day things so i think it will be a little bit of follow through. but i think some of these are just way, way over done. for example, bank of america, which really is the most insulated in terms of not having global exposure down 3, 4% today. that seems to be kind of overdone j.p. morgan, it was just when things start trading down the integers that is a telling sign of people just puking them out no matter what and if i think about where the italian bonds are, we were talking about this before the show at 318, 17, i don't know exactly where they closed. had i only known that and not known any of the run up to this italian bond crisis and known that they are at 316 and we were last week at 3. let's call it that

wouldn't seem amiss to me at all. wouldn't seem worthy of this kind of bank selloff i know there is momentum in these levered companies but i i just think this is overdone. we're nowhere remotely close to the kind of peril we were in in 2010. >> when i look through prism of where we were in the financial crisis the xlf, and we were flirting with thoseame levels a steepening yield curve deregulation but that would assume is that everything is pulled off and we go back to 30/1 leverage if it gets back to the old levels we pushed off the old levels they were resistance but if i look at the kre, that doesn't have the same head winds you are going to see with the xlf. >> really? >> don't they depend more on the yield curve? >> i think they depend more on the local economies versus the rise of the yield curve on a steepening fashion. >> i think it is time for asante here i don't think anyone here is

being insane from a markets perspective looks at the moment on the 10-year bond in the u.s. around 21 rsi. don't fall asleep. it means this is so overbought in terms of bonds. we vice presidehaven't been thit since brexit so people were so one side of the boat in terms of where they thought rates were going and now weave adjusted way too far to the other side i actually think bonds -- >> how do you explain regional banks up 9% kre against xlf. that is flat on the year so there must be something amiss. >> i think there is potential for m&a which you have in the regionals. nobody is merging. >> they are too big. >> so that is something. we've seen a couple of bank mergers. that is part i'm not sure what the rest. >> i get the fears but tell me about this industrials down 1.6% in today's session. materials down -- >> groult. people concerned growth concern.

>> should we be concerned? we've gone data points out of europe have been rolling over. that is a question. >> they haven't collapsed. >> no one is saying that then you say this, throw an italian crisis on the burner also and then what happens to european growth? >> well i think people did not look at valuation a few moonts ago and now looking at it in all this concern now it seems like shoot first, ask questions later. that's what happened today. >> couple of moments coming up to test the theses p pmis on june 1st and spain on friday. just when you thought it was just about italy you may see this again i say it again i don't think we're anywhere close to where we were in

2011/2012. thinkty ecb is a very established place here and they are not in any way tightening up. >> -- before we get to more on the financials here. european valuations. are they cheaper than the u.s. for a reason >> yes, but at some point you get to this place where valuations become too cheap to ignore we were probably 20% cheap coming into this and probably close to 32, 33% now that's getting interesting. >> our next guest says now is the time to buy. let's go to chris verrone to find out why hi chris. >> we want to talk about banks here, i first want to start with the broader market and what stands out to me, certainly today not a good day but when we put the year in context so far rememb remember, the original lows 25.33, than higher allow 25.55. higher again few weeks ago,

2600 we held the day today at 2675 so this is a series of higher lows over the last four or five months and each test has been on lower volume so the selling pressure has actually been less pronounced and that was the case today. volume is was not that extreme and when we look at the source of the weakness today and we go with the banks here. i think it's notable when you look at the number of stocks making a 20 day low in the bank index it's actually been getting better while today felt painful internally, it wasn't as bad only about 10% of the sector made a one month low so let's talk about the biggest bellwether in the group here j.p. morgan. this up trend we think is still largely in tact. we've roughly held today support in the 98, 102 range i think ultimately if you get it down there you want step in and by jpm this is still long-term bull market and we don't think it is

over yet. >> come over chris ryan will bring this chair in. thank you. >> welcome >> so financials are worth a buy here how about technology and more specific think bank stocks netflix all-time high today. square and twitter managing to buck the trend chips were doing pretty well. >> i think what's really unique about 2018, every single consensus trade has been challenged at some point they hit fangis a few monthing ago. and they have respond. i just think it is early to say that this bull market is over when there are still stocks to buy. >> when i look at the chart in the s&p you get back to the futures, i look at the cash. i see february and march and selloff in march down 8% mirrors sort of what we're doing at this point in the cash.

i would think at the least the 200 day test is coming we've been banging around at the bottom do you think it break this is time >> i think sentiment, i think one of the ironies is that even though the market is higher today sentiment is worse than the 2533 lows at february 6th. so the wall of worry has gotten taller and you could say it is flattened yield curve or what's going on abroad but i think sentiment is worse today than at the february lows. tells us we don't want to be too bearish. i think the worst part of the corrective phase is probably behind zblus what level do we need to hold >> i think the 2650 is an area the market defends i think it was interesting today. for a bad day volume wasn't that extreme aside from the backs so doesn't seem like a lot of force. >> breached 2655 what is next stop? >> 2650 maybe worse case i think that is as bad as we do. >> what did you do today, tim?

>> i kind of sat tight i think the market's reaction was a little extreme emerging markets were down almost 2.4%. i think sentiment is really deteriorating with every tick higher in the dollar and i'll be clear. i thought that the dollar. and i still will say if europe remains contained i think the dollars contained. this is the big deal if you have these differentials between the fed and the ecb, which now looks like they can do nothing, i think the dollar can go higher that will be very negative for emerging markets and i think they can go lower. is a day like today i think was overreaction i'm not sure you needed to trade today. >> chris verrone did a great job. who's just the pinnacle? on thursday he did a whole chart about the xlf. i talked about potential double top in the xlf and dan got mad >> dan always gets mad at you. >> doesn't help me remember that moment but anyway. >> with that said now you will start hearing technicians talk about the real double top

potential in the xlf look what happened back in '08 fell off a cliff not suggesting that is going to happen but you will start to hear some of that rhetoric micron up today with that move one has to ask itself where would it have been but for the move in the market. >> sales force, ceo speaking to jim cramer moments ago we'll tell you what he said. and starbuck's in the midst of his nationwide shutdown for anti-racial bias training. could it brew up more problems for the stock? bunds are slumping bonds are surging and bit coin near one month lows. is that all a coincide one of the largest vix brokers say it is not. he'll tell us why. more "fast money" right after this pv

sales force stocks soaring to all time highs. and spoke moments ago. >> a fantastic quarter and we are raising our guidance to 13.125 billion for this year up from 10 and a half billion last

year and you can see we are fast tracking to $20 billion. that is crystal clear. we can really see what's happening in the market today as the huge investment by our customers. economy is really ripping and you can see that customers are going through this massive digital transformation and every digital transformation starts and ends with the customer >> what do you make of the move and valuation? >> when you have all-time highs people think you shouldn't chase them on that day obviously the three day rule wait a couple days, see where it levels off look for the low and buy it below that but with it is up 28, approximate, 24% year to date. what do you compare to it in sab down two percent oracle down. workday up they are in the sweet spot give it a coup le of days but still worth buying even at these lefty levels. >> remember friday, holding the

boards in the graphic? >> this has been -- true this has been across the desk we've talked about this and people will knock sales force on valuation. but then you look and see operating margins up 17% street was looking for 15% how do you argue with the quarters they constantly do better each quarter. i understand what steve is is saying i don't think you have to rush in but think i think you put this away and bide your time. this is amazon likenk in terms f domination. >> acting tremendously, something like that. >> relative to this? this is extraordinary. this kind of growth this far along in the story is really kind of mind boggling. i know it is expensive i agree with what you are saying but if you just keep beating and beating like this you deserve to be expensive. >> i think people concerned about the acquisition. there wasn't a competitive extra

buyer. >> meal soft. >> i think you have to judge how the accusations prove rather than the purchase price. as much as i'd like to say i've been raging bull on it i think the growth is extraordinary this year. scale and size give them a reason to trade at a premium. >> and you can catch jim's full intervietonight on "mad money" and all that starts 6:00 p.m. eastern. today's selloff got you worried the bull might be over there are three telltale sign to signal the end we'll tell you later this hour and here is what else is coming up on "fast. >> again. >> no, just canceled by abc. and a list of growing headaches for mouse house. we'll explain. plus a as global turmoil grips the market one thing could be the leading indicator on what stocks are going next >> what's a bitcoin.

>> and wll tl e'elyou why it has one bits trader very nervous, when "fast money" returns. we also have the age-old problem of bias in the workplace. really... never heard of it. the question is... who's going to fix all of this? an actor? probably not. but you know who can solve it? business. because solving big problems is what business does best. so let's take on the wage gap, the opportunity gap, the achievement gap. whatever the problem, business can help. and i know who can help them do it.

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welcome back to "fast money. there is an interesting trend appearing in the market and the last few months that has some market watchers believing bitcoin could actually be a leading indicator for stocks and if that proves true the kipt currency could be sending a warning to the market. dom is breaking it down from the news room. >> on a day when the vix is is trading at highest levels in over a month and bonds saw a break out of sorts some are looking to bit coins as the indicator where stocks may be heading next in you look at this chase you can maybe make the case the two

are somewhat correlated. it looks as though the crypt currency has preceded each rally and then drop in the marketplace as well. is bit coin signaling worse times ahead for the broader market nobody really knows but it is perhaps something some traders may be looking at. not a comment on the legitimacy or investability or tradability of the currency. but another possible tea leaf as some market participants look towards the divining of the future direction of markets. bit coin prices are quoted in u.s. dollars and they went down roughly 44% from 2016 around a level of 14400 and change to around the 75 hundred mark like now. way too little robust trading data and participation in the crypto markets over the last few years to really tell at the same time there are those out there who make the case they represent alternatives to traditional assets

would they catch a safety bid in the event things get more dicey in global stock and bond markets? of course all of these markets at a time when the very legitimacy of crypto is still on the front burn over conversation, melissa, back to you. >> thank you very much, dom. so you guys are both shaking your heads when dom had been talk about whether or not this would have been a flight for safety, a la gold or bonds. >> when you look at the treasure i don't think that or bit coin you could go into one of those two as a flight for safety i'm very skeptical of that. >> leading indicator let's talk about that. what that usually means is first of all there is a fundamental corporation. often you hear about leading indicators relating to the economy. confidence indicators. measures of spending things that ultimately lead to economic reality we're not seeing that. obviously when you talk about bit coin market sentiment here is what i would agree with. back in december when we started

to see bitcoin selloff that was a blow off top in terms of momentum i think in terms of positioning and positioning towards risk think it is exactly the opposite if market were tanking here. yes there is a baseline of core investors, you you can't tell me people are running for a safe haven in bitcoin currency here. >> president of equity armor investments, we call him the fear merchant. others call him brian. good to see you brian. >> how you doing melissa. >> wiare you increasingly lookig at bigcoin as an indicator >> i am, and the reason that i look at it when you think about it is bitcoin is a way for investors to basically move their money off the balance sheet of banks and into their own wallets. why would you do that?

basically you are concerned that banks have some sort of credit risk and when risk increases you get more volatility in the market. and when you look at the vix and determine vix is a measure of volatility and fear in the market and fear of credit. if you want to know where vix is going in the next 30 days look what bit coin did 30 days in investment if you took a thousand dollars 30 days ago in bit coin it is telling you where the vix is going. there is huge correlation right now between vix and bitcoin 30 trading days ago and i think that is starting to measure out credit risk in the market that is what crypto currency is becoming it is becoming a way to sort of derisk yourself from credit risk in the banking industry and makes a lot of sense you would take your money off the balance she sheets into crypto currency. >> steve graspy sew, brian. when you look backwards and see how small that window is and say okay bitcoin could be the new

vix. when you look at the horizon to pick from. didn't -- if all you have is a hammer doesn't everything look lake a nail? is there really a correlation? is there really the new vix? or is the vix just throw to react being that we had a traumatic year with vix volatility in 2018 >> i think as the great question is there enough data to really support that i think the what you are asking and over the last six months that data is supporting that bitcoin is sort of becoming the new vix. sort of getting ahead of credit risk in the banking industry and when you look back at cypress and european problems in 2010 and 11. there was a lot of correlation between vix and volatility that occurred 30 days later and bitcoin. so there is a little more data than the last six months and like i said. i think it makes sense that this is starting to occur that this is a way for institutions or millions of individual investors to

sthitically store their money under the pillow and take it you have to bank's balance sheet there is a reason why the banking industry are all talk about against bit koi and crypto currencies because they realize this is an alternative way of storing your money and protecting against fear and volatileality. so i think the correlation continues. i think you will see this continually mature going forward over the next year or two. >> if what is happening in the world is another potential banking crisis a la what we saw 2011 or '12, the vix was much, much higher then how is that fit into what you are saying act bitcoin or do you think vix is saying, you know, this isn't a banking crisis this is a little blip. >> i think that is a great question if you look at bitcoin 30 days ago selling off from 10,000 to

7500 all this volatility may carry on for a week oar two and then subside. let's be honest here italy needs the eu unlikely great britain and them exiting the eu, they could sustain on their own some of the problems with italy in the government i think they will need to be in the eu. i think the problems resolve themselves the tallion bonds are still trading at 1.75% i think today is a one day volatility just like we had a spike in bitcoin back up temp r rarely a month ago i think this makes for a good buying opportunity heading forward for the next 30 days >> brian suthand from chicagtuto

>> i'm not going start to put bit coin in the volatility index yet. at least many my opinion i understand the charts work now. i got to give it some more time to see fit works. >> haven't we also been talking about we're waiting for the institutional players to really get into this market and that they will be. but to say they are able to provide any backstop to volatility right now or that this would be a place where these guys would step in they are not even in so no, i don't think it is a safe haven in any way. >> check out the bull show fridays 5:30 eastern coming up it was a sea of red for the markets today. signaling the bull market is coming to an end we'll break it down. and disney hit with a one-two punch today as its new "star wars" installment flopped at the box office and see that's funny, i thought you traded options. i'm not really a wall street guy.

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welcome back to "fast money. disney shares falling more than 2% today as drama rocks the mouse house. julia is is in rancho palos verdes with the details.

>> and cansing the roseanne barr show after she tweeted racist comments her statement is abhorrent and inconsistent with our values and we've decided to cancel her show ceo bob iger telling cnbc the decision was made quickly, that there was only one thing to do and that was the right thing it will have financial implications for disney, putting dozens of people out of work it was the number 3 rated show of the season with an average of more than 18 million people watching and it was scheduled to return for another 13 episodes now this comes as solo from disney's lucas film's studio underperformed box office expectation this is past weekend. a perfect storm of timing, competition and perhaps "star wars" field goal $1.3 million over four days under already lowered expectations internationally it brought in

$65 million. the total global take sabt half of what rogue one brought in its december 2016 debut. but perhaps the biggest factor in solo's performance is the fact it's been just five months since the last "star wars" film. and also the first to be released in the summer this summer is particularly crowded. going up against marvel and fox. solo will be close to break even over its life versus the $400 million profit we assumed which is about 2% head wind into disney's estimates this year it will be interesting to see how it performs the coupling weeks. >> thank you >> i don't think disney was oversold at all on this. you know, i think so two very big bad things, right? maybe the franchise isn't worth what we thought and the rosanne

cancellation and also a number of head winds. the fox situation very much in the air. even if they are able to buy it they are going to have to pay more and it is unclear whether they do it with cash or stock i'm not sewure which is besse in addition you have espn which still has big head winds facing it i don't think this is a spot to jump in at all there is a lot to still shake out. >> seems like there are plenty of reasons to not own disney right now. >> the fate of disney rests on rosanne's hands or broad shoulders i think they have bigger problems. >> they are broad. >> they are broad. >> -- number 3 rated tv sit come. >> my point is they have bigger if fish to fry than rosanne. >> the "star wars" stuff, to me five months later is a little quick. having never seen one before i'm not rushing out to see hans solo or hans christian anderson

for that matter. espn got a lifeline in my opinion with this legalized gambling thing i think it is a huge boom for espn will it manifest itself in the stock price? probably not but think think this was a life limb they needed if they have to overpay for fox that is a problem. >> i've made money of this stock. i think it is technically challenged and fundamentally challenged i don't care what the parks are making it looks like it wants to revisit middle 90 toss low 90s and i'm not going to say it is all show wrote for disney but there are a lot of growth thi other names that rime with etflix, if you can get over valuation. which is a problem >> etflix. >> i think you guys are crazy if you think disney has issues with the studio >> i have never seen an entire

"star wars" either a rainy one too. we really -- but the bottom line here is disney should not be treated in the same way as some other media companies because of the their products business and theme parks does, which i think are clicking around. i don't think you need to jump in here now as karen said. but to say that these guys because "star wars" is failing, that studio is so much stronger than any competitor, that is not reason or the worried. >> they make a ton of money. the problem is it cost them a ton of money to make a ton of money. and netflix is -- >> they spend a ton of money for that growth. >> while netflix is not spending a ton of money. >> they are. spending a tub of money. >> they are not even making money jet yet. >> they are used to buying other's content. now they are creating their own for pennies on the dollar. >> do you think netflix is any

way enkroecroaching on disney's content? is not even close. >> the whole idea i'm buying value? >> we're talking about content i understand -- dipz's content and you started talking about how much they are spending on great content. they have a great algorithm and great software that tells them what their users want them to have to assume disney is anywhere near netflix in terms of content or competition there, not even close. >> i'm talking about performance in the stock, if you had invested in netflix. i don't mean you tim seymour the viewer at home had you invested you are up 82% year to date versus being down 7% 82% is years and years of performance that youb can't make up for. >> we're talking about disney and their studio and all the things i don't think they have to worry about and if anything i think once

they start to pull marvel. once they get fully over the top. by the way don't thin comcast is looking a hulu to now be another competitor of netflix. we're assuming no one is going to come after netflix. and netflix has the only -- >> in my opinion the only thing this goes against netflix is amazon, amazon prime that is where you see the competition. you are not going to see it in disney we're looking at lirp, very digital very stream. two different games.near, very digital very stream. two different games. mill. >> millennial millennium falcon? what is that thing >> that is the ship. >> what is that. >> that's chewbacca. >> and what episode is drew barrymore in in the trilogy? >> that's e.t. that's a totally different genre space movie. >> little rascals for you.

>> till had. a brutal day for the market with dow falling nearly 400 points. and starbuck's closing 8,000 stores for racial bias training this afternoon kate is standing by in new jersey outside of a starbuck's. >> training still going on we'll have the details after the break on "fast money."

starbuck's closing a number of stores for racial bias training let's talk with kate in new jersey where one of the sessions is taking place as we speak. >> reporter: starbuck's closing some 8,000 locations today for racial bias training, set to reach 125,000 or so of its u.s. partners, as it calls them of r employees. the training was mandatory it was for people who wanted to make starbuck's more welcoming space. they wanted the partners to work in small group sessions today and also saw video messages from starbuck's founder and chairman

and partners talking about their own experience with bias. >> on a personal level i want to ask you that together we do everything we can to build that third place in your store. >> when i first started working there, i had to deal with difficult homeless customers all the time >> i found someone in the restroom shooting up immediately i shut down. i froze. >> reporter: the company also reiterated and updated its policy on bathroom usage after the incident in philadelphia that got this all started. saying as soon as you enter a starbuck's property you are a starbuck's customer and you don't need to make a purchase in order to use the bathroom. then that i had had backlash and said you can't use any drugs or be sleeping in the store they don't want any of that. and if that happens there are actions they can take. but once you enter the store you are a customer and you don't have to make the purchase to use the restroom and

we should mention the stock closed down just slightly. >> and to be clear, it was not mandatory, correct so it was voluntary training >> i asked if it was monday tany and they said no we talked to some of the partners in the store today and they were very gung ho and excited to participant and looked like a lot of them were showing up to do that. >> kate rogers outside the starbuck's there did starbuck's do the right thing? did they respond adequately. is this reopening up the whole issue? and will the bathroom policy actually backfire. >> yes i think they did the right thing. but in our world what does it mean necessarily for the -- i don't think it necessarily means anything for the share price my biggest concern for starbuck's is do that have the earns growth to justify 21 times next years numbers if you believe they are going to

double ichina 2022 than the answ is yes. very important issue b i don't think it has any ram fictions for the stock. >> cut back into and closed some stores i think they have actually tightened focus. i think howard schultz should get a lot of credit for being a ceo that's socially minded and really thinking about the perception of his business on multiple lev levels. cares about the employees. very clear they get a lot of people working there what is the company? probably on the upper end of valuation range. struggled after two years. i think they have multiple sales channels i think this is one of the great brands in the world and i think this is part of cementing that brand? >> is it still one of the great brands of the world? do you want to hear the chairman say the bathrooms are open for everybody? anybody who can walk in can use the bathroom i'm not saying that is right or wrong but that is a lot of work

for the employees to do. >> and they can be alienating part of the customer base. >> exactly kbl i get that. it is a tricky line. i appreciate him trying to do. that is the chairman, not the ceo. but as the very tricky line. it is interesting others don't seem to be following that. maybe they figure let's watch and theen we'll see if he we need to do the same thing. the as risk. >> yeah. >> i think coffee is dead money at this point. dunkin' donuts and starbuck's are both down year to date if international growth kicks up eclipses this store but right now i'd stay out of both. >> you are in investor in mcdonald's as well why doesn't splkds to say everybody can come in and use the bathroom >> because i don't care they have had a company as high profile. and mcdonald's if you look at the fair amount of the mcdonald's you may see in an urban area where there are a greater predominance of homeless folks you are going to see it

being a place they hang out. it's what ppens at starbuck's. i think mcdonald's is trading at the premium multiple because they are doing things in terms of the strategy that give people the sense the company is growing faster he didn't just wake up today and start acting socially minded starbuck's has been doing this since -- >> as a friend just texed me racetogether remember the race together cups in 2000. >> they have always been out there in terms of the political issues social issues. but is that what a company you have investored in to do >> a coffee shop more than a burger place, yeah as the home. a community. that is what goes on there. >> it works until it doesn't work. >> is that with coincident with that kind of founder who is that kind of visionary, then maybe you can't separate the two. >> how do you know if the selloff isn't the sign of something words. guy has a three signs that the bull market has changed. iser more "fast" a right aft th

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welcome back to the "fast money. it was a sea of red tad it is dow fell nearly 400 points is today's selloff another sign we're seeing the beginning to

the end of the bull market guy with a little segment we like too call "the more you know". >> we're not suggesting we're at the beginning of something and i know the market was down big today. not necessarily why we're doing it but it is a good time to look at things. so these are my signs that things are changing. first one, stocks no longer rally on good news sort of makes sense. last seven or eight years stocks not only rallied on good news but bad news for the last couple of months you have had good news in lot of names and is the not seeing the commensurate rally investors aren't buying the dips how many times have you heard "buy the dips and sell the rips"? it makes me crazy. but now we're seeing a environment where people are more apt to sell on rallies than they are to buy on dips. seeing that again today. and last one, steve can speak to this divergence in market breadth. on up days are you seeing out t

outperformers, two to one on decliners. not anymore. on the down days you are seeing decliners over advancers sometimes four to one. that is something you have to watch. and a chart for you apropos of nothing but i'll put it up regardless over the last, you continue to see a series of, lower highs and not necessarily lower lows yet but if we take out these levels in here. sort of that 2580 level steve grasso has talked about now for month, thej things get dicey. >> grasso has a question. >> to the tail point of that on a technical basis. when you look at your pinnacle, carter worth, he likes the 150 day moving average, the smoothing mechanism, or the 20 day moving average, the momentum

indicator. do you have a favorite moving average indicator. >> i'm sort of the 200 day moving average i think things get really interesting. >> -- >> what was that i heard someone say "ha ha ha. i think things get interesting with the 200 average breached on the upside or the downside and i don't think that's coming into play quite yet. tugthing to watch forhoh though. >> thanks for that, guy. up next, final drays

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final trade time tim. >> i think j.p. morgan as the best of the bank was over sold today and i think you can own this one. >> dorian lpg received a takeover offer i think consolidation can in this industry is a must. i think there is more to come. i bought some today. i owned a lot into today. >> tesla is a buy. i'm still long for all the reasons guy just stated at the plasma, reverse them and that is the reason why tesla is a buy. >> now we have to rewind the

dvr. >> infamous. >> still is apparently where does seabrook. >> and last week they put a $18 price tag onio 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. nothing hurts worse than uncertainty. witness today's brutal beat down with the dow jones average plunging