>> keep an eye on goldman sachs tomorrow morning if it can find the bottom the dollar continues its strength today, still high from the close. >> which is startingto pressur equities that. >> that does it for "closing bell" today. "fast money" with joe kernan begins right now. >> yes, it does, live from the nasdaq market site overlooking new york's times square, i'm joe kernan in for melissa lee, feeling pretty comfortable here, pretty much at home. thank you, you lent us this desk for a while before we move downstairs on squawk box these guys are my friends, pete najarian, brian kelly and tim seymour. i wish there was a better reason for us to be together tonight but it's not once the market started selling today it didn't let up the dow sinking 600 points, closing near the los of tws of

day. tech leading the way big time to the downside nasdaq weaker. for more, let's get to bob pisani for the details robert >> hello, joe. good to see you. the market is boxed in due to the problems with the fed and global growth. those are the two issues today's decline in tech can't be blamed exclusively on apple. all right, it was down 5%. momentum one of apple's facial recognition suppliers and others are all weak along with big semiconductors, but the fact that all the fang names were down 2% to 3% and the industrial and the energy sectors were down 1.5% each, it points to a much bigger problem domestic growth seems strong and it is but the global growth picture in europe and china is generally weaker

that's one reason all the ohio valley valuations are going down another problem is the strong dollar which is a result of the fed raising rates, also a result of brexit problems, a weak euro like italy and a weaker china. that plays into the stew that strong dollar is hurting commodities in turn with double digit declines this year we've seen in copper and aluminum and zinc the recent decline in oil is being blamed on oversupply issues but it's likely that concerns about a slowdown in demand may be a factor in the decline of oil unfortunately, the feds boxed in as well. the impact is implying it wants the fed to slow down on rate hikes but with the current economic news it can't do that the news is too good and it won't be able to until december at the very earliest and even then it's going to be a tough call the bottom line here, the two

issues the market cannot answer right now is where is global growth and what is the fed tightening picture going to be in 2019. >> we're getting a little am mat - acclimated to this it would be good to get used to feeling what 2% is at 26,000 or whatever, right? it's still heart wrenching but it's not like 15%, thank god. >> it's appropriate for the vix to be at and above 20. that's when i start paying attention for the simple reason, the market is confused because it can't figure out what the global growth picture is going to be like, how strong are earnings going to be we have 10% for 2019 some think it could be 1% or 2%. that's a big difference. that's a lot of confusion. the markets should be volatile. >> bob, it kind of started this morning -- wow, i was here for that, in fact.

it started this morning with the new china intellectual property stuff. you add that to everything else and here we are. anyway, thank you, bob pisani. we only have an hour as i understand. >> half day for you. >> i got to recalibrate. the question is simple tonight, what happened and what do you do now? pete, i'm just going to read a quick jim cramer tweet. this day had no redeeming factors if you are a bull, none, capital n-on-on-e. >> the acceleration of the downside is concerning i'm surprised -- bob mentioned the vix at 20. i'm surprised it didn't get to 23, 24, 25 with that selloff and the pressure that we're seeing and the one name that's not part of fang is apple. when you see apple down 5% in a single day and it's a name that was just trading back up to 209 and pulled all the way back down

to this 194, 195 range, it's been a couple of bad days for apple. the one disagreement i'd have with bob is he said it's not really just about apple. i think it's a lot about apple because people are looking at apple as the one area, the bastion of where you can go and hang out with some safety. >> you have apple, you had oil, you had global growth, and to pete's point, the last soldier in your defense if you were a bull was apple it was your value play, your growth play. now if you don't have apple, you don't have anything. where are you putting your faith, your stock. >> it's the reason why apple fell it wasn't because they might have had a bad quarter it wasn't because they were worried about the dollar it was because it looks like their sales are slowing down so extrapolate that to everybody else and that's where you have the problem. to me nothing's really changed since before the election to now. the only thing we've taken off the table is the election uncertainty. but beyond that, all the global growth concerns, all the fed

concerns and the u.s. dollar is even higher so to me nothing's changed at all it's appropriate to have these up and down 2% without a doubt. >> right so where we were last friday before midterm elections, i think we sat around on wednesday after that big rally and we said what's different what's different is good news and bad news does gridlock in washington mean something different, we're not sure maybe it means a more aggressive white house. the bottom line is look at the move in the semis. a 7% pullback in essentially 2.5 days they are the ultimate trade war victim and cyclical read let's talk about the dollar today. that to me is probably what has most people unnerved ryan refers to it as the new vix. whatever you want to call it, the dollar is a wrecking ball for risk assets. the bottom line is dollar is also the flight to quality the news out of the eu worries me the most. we're starting to put pressure

on italy again, all the headlines out of europe and political discord. those are not even talked about. >> the biggest thing you brought up is the fed and now the white house. if the white house isn't dictating or the republicans aren't owning every branch of government, are you going higher or lower the reason for a lot of this rally was the policies, lower regulation if you don't have that, you don't go as high. >> the most bullish thing we could have had come out of the election is nothing gets undone and that's what happened, right? we have this if you want to call it gridlock. now the problem is the market is pricing in nothing gets done now things are starting to unwind a bit i'm with tim on europe a lot of people don't talk about it we talked a little about italy today but the european situation both in their economy and what's going on with italian bonds is spooking people. >> the biggest thing right now still has to be trade policy

everybody else, a lot of people talk about whether it's the dollar or the fed or whatever it might be but you look at trade policy and isn't that one of the biggest headwinds because there's no clarity out there we heard all the industrials, almost two a company, tell us how difficult it is to project forward because they have no idea they don't have clarity. without clarity -- >> i would like to see and i know i sound like i'm trying to thread the needle. i would like to see a test in the lows or a test in the february lows and then i think we can rip higher with the clarity that pete's talking about. we get anything positive out of the g20, you rip higher. >> i didn't know you were -- >> threading a needle i'm a seamstress. >> the downgrade that came from jpmorgan today is a functioning of we're looking at emerging markets, slower growth, a

stronger dollar. they're taking this company and dropping it into an earnings profile that's not just a market dynamic. we're actually seeing it in that bellwether. >> 920 billion it was just a trillion and 50 a week ago. >> 207 and a nickel. >> any of you guys see "60 minutes" last night? >> yes. >> what if the idea of this actually being my info -- i never even thought about that, is my info my info or is it google's this guy made the case it is not, it's mine if that comes here, i'm worried about everybody but apple at that point, right? you've got it because they can't even figure out how much it's going to cost them to comply with gdpr in europe. that change is happening and the business models of a lot of these companies, a lot of tech companies, are being threatened. it's this peek centralization. >> pete, i was watching a football game obviously and "60 minutes" is coming on and i

thought it was going to be lesley stahl again then they actually were going to do something and i actually watched it. >> i only get one station on my television, joe. >> squawk box? >> cnbc? for more we're joined by julian emanuel of btig who i saw on thursday and you were in a great mood on squawk box we were up 500 the day before. remember >> yeah. >> how are you feeling today. >> we said this is a process this is a process. when you have a straight line selloff like we had in the month of october, to expect a v bottom and sort of a race to the highs, completely the wrong way to think about it 10% corrections tend to take from 60 to 200 days to regain the high, okay so that's the context. second context is that november tends to be a positive return month. we still think it sorts itself out that way but it actually stays volatile until the thanksgiving holiday for the

most part. with trump meeting on the 29th, expect it to stay volatile all the way until then the elephant in the room, we can't get around this, basically the market is saying that political risk is higher and it's obviously -- >> higher since the midterm elections? >> well, what is one of the issues that both democrats and republicans seem to agree on and that is trade, a harder line against china. so that is something that -- >> what happened with oil and global slowdown, when does he go from one next year instead of three or at least go to two. cramer has been talking about it when does he throw in the towel and say mission accomplished >> he won't say it likely, but now that you have 8 meetings, you could very well say in january where you've got a press conference. >> you think he's starting to

waffle do you think he sees days like this and says maybe i was a little bit too hawkish >> from our point of view, the fed has throughout history tightened too long if you go back to the '06 tightening cycle, you didn't see financial conditions get materially tighter until it was too late the problem here is if you don't have progress on the trade front, things could go south very quickly from our point of view, even if you don't have a material economic downturn, the potential for more multiple compressions, you've already compressed three multiple points this year, is there in 2019. >> i guess that's where i would push at you. you come in here with ice water on your down days and say the same thing i think you believe there's a process. i'm worried about s&p earnings in 2019. people say we're going to grow another 7% next year i don't think we will. i think the status quo is price

things wrong >> to us, mid single digits in an environment where the fed takes its foot off the accelerator is going to be sufficient, particularly if you're taking the pressure off the rest of the world. and we go back to trade again. emerging markets have already taken it on the chin europe has already taken it on the chin after the last few days is the probability of auto tariffs against europe lower or higher it's probably a little higher. these are the kinds of things that we have to deal with and realize that there is a material effect potential into 2019. >> you're saying mid single digit returns for next year or earnings i want to clear that up. >> earnings. >> so then you have volatility coming in. wouldn't it be better just to buy bonds at 3% than deal with the single digit earnings and volatility up 2% or more on any given day? >> they're all interconnected.

you look at this year and even let's say we pull back to sort of flat on the year at some point and bonds still have looked quite poor, from our point of view the story with bonds is a much longer term sort of circumstance that you really have changed the psychology over a two to three-year period to where bonds look like yields are going higher looking out over the next 3, 5, 10 years, and that's the risk. >> very good this is a pretty easy show to do you guys have a lot to say. >> we're not afraid. >> i've got very little to do. >> it's unbelievable. >> watch this. thank you, julian. now, are you ready for this? >> yeah. >> i'm going to do it because it says right here, steve grasso, are we heading for a year-end rally? did you draw the short stick >> bottom of the 8th. >> unbelievable.

>> i think it's what julian said >> he's not even here right now. >> bring him back. am threading that needle again i think you're going to see a selloff. i think it's going to suck the most amount of people in as possible and then we're going to rally into year end. yes, december i see as a higher month. >> one thing to talk about that concerned me was the move into oil after opec seemingly stepped in and said we've got some resolve here, oil finishes lower. the last time oil was potentially in this kind of a move where we were talking about too much supply, the dollar was getting stronger and the rest of the world at least was concerned about lower growth this was a very difficult time for risk assets, certainly for oil and certainly for ultimately the global -- >> how can oil move higher when you have russia, united states and saudi arabia pumping at record levels? >> we argued is it supply or demand it looked like the saudi sflupp

because it was up. how do you know? >> with the iranian sanctions everyone was in a rush to pump a little more. ed russiawhen you get waivers fa bunch of countries that can't help a glut in the pipeline. >> i hope you're right because if it's demand we're in a heap of trouble when it drops down 20%, if it's not supply and it's something we don't know yet about global demand -- you agree with that? >> yeah. coming up, can i do this now? >> sure. >> we've got you covered the whole hour every angle of this market selloff if you're looking for opportunity amid the chaos, we're going to tell you where investors are running for cover. plus, check out goldman sachs, the stock down a whopping 7%, a big move for this dow component, leaving financials lower, having its worst day since november 2011. what's wrong with the big bank later, the retailers are

holding steady despite the selling we've been seeing but could all that change when they report earnings? we've got those details. we are live from times square in new york city and there's much more "fast money" right after this [ phone rings ] what?!

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welcome back to "fast money. the financials taking it on the chin today, dropping 2%. the culprit was goldman sachs which fell a whopping 7% today for its worst day since way back in 2011. robert frank is in the newsroom with more on what's wrong with the big bank robert. >> hey joe reports that former goldman sachs ceo lloyd blankfein has raised concerns that the scandal could escalate "the wall street journal" and bloomberg both reporting that blankfein was at a meeting with joe lowe in new york in 2009 after goldman sachs refused to open a private bank account for him over questions of his course of wealth. they both attended a second meeting in 2013. sources tell me that while joe lowe was on the guest list for

that meeting, he did not actually attend. the doj has been investigating the amdb scandal and goldman sachs's possible role, charging three former executives in asia with money laundering, bribery and other charges. goldman sachs says it's a victim of rogue employees who kept superiors in the dark about the theft of billions of dollars from the fund. goldman sachs earned fees from $6 million in bonds from 1 mdb tim lice ner said in his plea that he, quote, conspired with others at goldman sachs very much in line with its culture to conceal facts from legal employees of goldman sachs joe, back to you. >> robert, thank you is there still hope for a turnaround for goldman >> well -- >> hold on i didn't call on you yet i got him last time.

seymour. >> i didn't see that coming. >> that's talent >> this is a company that's been drastically underperforming. you could look at goldman underperforming by almost 25% the last two years is this a one-off event that's plaguing goldman i don't think so i don't think l. blank, that would be lloyd blankfein, i don't think he should be maligned in the context of the institution. i think there are rogue traders and goldman needs to answer up to it. the market is looking at the potential of the -- the numbers thrown around are possibly $1 billion and people are looking at what this means for a company that doesn't seem to grow revenues like they used to. >> that's the point, right their business model has changed from the past or at least they're trying to change their business model typically in a volatile environment like we've had, you might look to goldman to make some money off of trading revenues but we know that they are changing their business

model. that's why this stock gets so hurt in this environment not only that, the financials have not performed at all in an environment that they should have performed. >> pete at the top of the show brought up apple and he said apple was the last soldier when you're talking about tech. jpmorgan is the last soldier when it comes to banking they're the only one of the ones that we look at on a day-to-day basis that's still positive year-to-date it's up 1.8% if it doesn't white knuckle hold that, i think people say let's leave that sector alone. that's a utility but it's not a utility that's offering us any defensive allocations. >> i was watching you guys this morning and i saw several people defending the whole banking world. i would join them as well because i think there's great opportunities there. when i look at goldman sachs trading at almost one time, that gets very interesting to me. i understand the ramifications of what's going on here and it's big but i also remember everything else. there are things in the past that have pressed things down and created opportunity. now, is this the bottom?

i don't think it's necessarily the bottom for some of these banks. i have a very conservative side and a very aggressive side conservative side, i have regional bank out of minnesota do you ever read anything negative about them ever you never hear anything and yet they sprawl across the country pretty well and this is a bank that does execute and is doing things right they're actually hanging in there fine, they have a great dividend stream. i think on the other side when you want beta, you have to look at goldman sachs or j.p. wells fargo, when are they not a headline somewhere >> they can't even perform that's the problem even if everything was great, if they had no risks at all of these headlines, they haven't been able to perform when rates are going up and the economy has been strong. >> the xlf has outperformed the s&p by 3% since october started when the market has been a mess. so banks haven't been destroyed. in fact, they've been

outperforming on a relative basis. >> all right i'm going to say take a look at general electric it fell 7%, closing just below $8 a share we'll tell you what the ceo said, the latest one they move fast at that place they had shareholders running from the stock today later looking for opportunity amid the selloff there's one stock in the sea of red today that had pete pounding the table. he's on the spot next. there's much more "fast money" teth from times square right afr is break i'm just going to sleep on the couch. people tell me all the time i have the craziest job,

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with the dow dropping 600 points volatility gripping wall street once again traders are on the hunt for safety but not in the usual places our very own mike san tolly who is like book ends on the cnbc day like me in fact. down at the new york stock exchange with all the details. mike. >> on the 12-hour plan absolutely, joe. this dynamic of quality stocks outperforming the broad market really started to take hold even before we had that correction in october. the run-up in september you started to see people say it has a defensive leadership profile and that's i think been solidified in the last several weeks. what is quality as defined here? it's not the same as value these aren't necessarily cheap stocks but they're stocks basically with very strong and stable businesses, powerful brand names, resilient profit margins, low debt. strong cash flow, strong balance sheets health care fits a lot of those profiles it's up 11%. the rest is kind of a warren

buffett type stock basket you might call it, coke, p & g, disney, starbucks would fall into this area the big question is what it means for the broad market you're starting to see strategists say you might want to tilt toward quality it's not to say that you're definitely heading for harder times or a continuation of the volatility that we've seen but if we were headed for a bear market, this is the profile of the leadership you would see at this stage right now one of the big questions is obviously financial tightening at the same time you're having an economic slowdown means people are hunkering down, figuring out how much more is left in this cycle again, not cheap stocks but an interesting place i think that money is flowing in the context of people being a little bit on edge >> am i going to see you tomorrow, mike >> i believe 7:00 a.m. >> 7:00 a.m., be there, good >> i'll change it up a little bit. >> that's all right. we were talking thursday and

friday, it didn't feel as great as wednesday now i don't know what to think anyway, we'll look forward to that tomorrow, mike. let's see, i got you, i got you. you, you, you. >> i can talk. >> can we follow the flock >> flock is a tough word to say. >> yeah, yeah. >> keep plucking that chicken. >> no, you shouldn't follow the flock, no. these things have run up since the middle of october. now everybody has all of a sudden learned about them going, wow, this is the place we've got to be. b.k. likes to be on the other side of the boat once everybody's run to one side. i'm going to run to the other side, especially when you look at the way mcdonald's traded today, opened higher, closed lower. >> what if tech continues to sell off >> then everything sells off. >> that hasn't happened in this case

>> that's why i'm saying -- >> this is an alternative to tech. >> i haven't grown six inches and gotten an nba contract is that going to happen? >> this has happened already so if it continues to operate the same way, you're going to see the same action and these names can go further. >> okay. not with me. >> b.k. doesn't like that? >> jimmy's mad jimmy does this. >> that's weird. >> i can't believe you never knew that. >> b.k. says we got to go. we're going to carter worth i think. our next guest says there's a number of names sitting out until fall that are worth a buy. chart master, that's cool. carter worth will break it down. take it away >> first we thought we would do a little s&p to figure out where

we could go. of course there's no way out of this we have a double top in fact, that spike high in january, record in-flows into etfs, spider and ishares classic blow-off, classic double top. we also have a well defined trend line we have bounced once, twice, three times. we got here a fourth time, bounced ever so slightly but we undercut and that's the issue. ultimately we have a double top, a break in trend where could we go? there are reference points if we go just to the low of monday october 29th, that's about 4%, 4.5% from here we close at 27, 26 that's 2603. if we were to go to the february lows, that's the 9th, friday the 9th of february, that's 2532 that will be about another 7.5%. don't have to stop there but it gives you some reference point if and as we go lower, i think we do, where we might go

let's go to a few stocks classic defensive is soap and cereal they used to say. humana, it's .8 just as is the case but not with the market it has bounced off its line over and over it has been able to stay on trend. that's appealing i like the relative strength and the up trend here's echo lab. they do chemicals and water filtration and basically play to the industrial space but on sort of a safety trade. the general principle is it stayed on trend, has not broken trend and has gone higher. let's try another one, roll through them quickly abbott labs, the same circumstance good up trends and the point is stocks that have rallied whereas the market has faltered. the bet being these are relative strength winners thermo fisher, the same thing. let's go to the next one here's baking soda this is the same principle

these all act very well. the last chart is a basket of those five stocks. is this not the very definition of a virtually perfect up trend? i'm going to make the bet that if it's going to roll like the market, you'll have plenty of time to figure that out, but for now, the bet is otherwise up and to the right quality stocks or you can call it whatever you want it's defensive i think it's the place to be. >> chart master, come on over here you're flying colors you get invited over to the desk >> is there any precipitation likely in any of those -- can you -- >> the mic's never go off, whoa. that's dangerous carter, any favorites in that group?

>> abbott labs probably best in class. humana is good and there's unh these are absolute winners and the key as we know is when a cycle goes you have biinferior occasion but the market stayed up then they break the high fliers and people cluster into defensive names. it's really not over until you go after those which is your point. 3% of a two-year note is not so bad. >> when i look at the s&p where you started out, i'm negative as you are. we feel like we have a little further to go. i saw something today that could possibly be an inverted head and shoulders. >> that's very possible. i think it's maybe hoping. >> i think it is. >> i think the issue is this, the damage done is substantial enough that we heard how long on average it takes to get back to a new high, butthe further we

sink individual securities, the more likely it is that this topping process that's been under way since the high in january is enduring in nature. >> it's not a bad day to remind us the bottom of the channel on the s&p where we should respect the bottom end. >> you're talking about the ten-year chart >> sure. >> that would be 2300. if you just look at the bottom of -- to go down another 7.5% -- maybe let me end with this the worst single thing we could have done is the fact that we bounced 7, 8% off the lows of the last two weeks you wanted to go down another 7. then you can get a cathartic bounce the fact that we bounced 7, 8%, some stocks 20 and 30, that keeps hope alive the year end rally, listen, they talk about the statistics, unless you have 200 inputs, it's

statistically insignificant. b buybacks, these are all hope that's not a thesis, it's not a premise, it's not a strategy maybe it happens, maybe it doesn't. >> we didn't close down 10% on anything >> a lot of individual stocks. >> i know but it didn't close down 10. >> no. >> for a decent -- you're looking for a toilet, you're looking for the flush. >> you've got to get people out, shake people out if you look at the most widely held stocks at merril lynch, at schw schwab, it's still the same names and people haven't abandoned them yet it takes a lot of damage for people to finally give up on their beloved winners. >> thank you >> you are beloved too, carter you earned this spot. >> coffee or anything? >> coffee is for closers. >> that's good coming up, general electric

getting crushed again today, down 7% to a 7 handle as the ceo, larry coke, was on cnbc later this morning we'll bring you those comments plus it's not just ge sinking today. there was a sea of red on wall street the dow and s&p both dropping 2% but pete najarian says there's one name that could survive the selloff and he's going to guarantee it he'll tell us what it is when "fast money" returns

>> that was the ceo of ge, their stock falling below $8 a share what do you do now buy yourself a venti latte >> maybe a grande. >> not starbucks because starbucks' prices have gone up >> anyone that's holding out hope for a massive turnaround

soon is certainly in the wrong place. 35 basis point position is not material every dollar i lose in the stocks is a new dollar what have i learned in the last couple months or the last couple days the numbers we've gotten out of this company since earnings and the guidance recently tells you that the run rate on fundamentals is deteriorating significantly and consensus cuts are still happening. at some point there has to be the stop loss mentality for people that own this stock and you have to ask yourself first of all what don't you still know and i think larry coke everybody gives a lot of credit for being accountable. the asset sales are very important and i think we need to see something in the short run even though you can't sell something when you go in drooling. >> the biggest issue i have right now, he says we need to sell some assets at some point but everybody knows that you want to be on the side of power and right now they're not. their power is a problem as well i looked from november 1st until

now, six separate occasions so far all we've seen is monstrous put buying and they continue to be right i went back a year ago, they were buying puts when the stock was trading in the upper teens it's amazing how right the options market has been in this particular stock in terms of looking at the management, the fact that they were reactive and not proactive and because of that they have assets that have value but not nearly the kind of value when they were actually chasing. >> i actually own it, not too far -- i'm not being that guy, not too much higher than where it is right now but i will tell you, when we just said about the flush in the overall market i felt like we're getting the flush -- granted it's an every day occurrence with ge right now. today was sort of constructive in a vomit world of ge >> not sure what that means. >> building a little bit of a base we'll see what happens with the

overall market. >> i was a stockbroker for ten years. you get down to 7 and you say how much further can it go you can still lose 100% of your money. doesn't matter did you marry your losers -- and i'm not talking about my wife. >> what your nature is, we sell our winners too quick and hold onto our losers too long ge is a loser i've been holding for too long. >> it wasn't nine when you bought it? >> it was double digits but low double digits. >> we got to go. >> taking you to task here >> i know. coming up, a brutal day on wall street, thedow dropping 600 points, s&p and nasdaq also getting hit hard pete has one name he says could rise above the selling

he's going to tell us what it is. plus it's a huge earnings week for the retailers are any of tse nes aheam buy ahead of the holidays. stick around to find out more "fast money" right after this ed investments professionally managed portfolios customized to help meet your financial goals. you'll know what you're invested in and how it's performing. so you can spend more time floating about on your inflatable swan. [ding]

welcome back it was a sea of red on wall street today the dow and s&p falling around 2% the nasdaq more, 50% more. in fact, down almost 3%. pete najarian says there's one name that could survive the selloff. he's at the plasma with this

fast pitch. >> it's going to be lululemon. the pe is very high and that's something you have to deal with. even on a day like today it didn't get hit that hard here's why i like it solid management the chairman himself actually loves the new ceo. this guy a year ago, mr. murphy, bought 100,000 shares in the 60s. now it's in the 130 area he's got a lot of faith in the company and the ceo. it's a new ceo so that's something you have to keep in mind i like the direction of this company. the incredible buyback, you look at the fundamental story of this company, one is the buybacks they've shrunk their share count by 9% since 2014 by the way, they didn't do it by debt, they didn't finance this thing. they did it with cash. when you look at their balance sheet, they have zero debt, nothing like ge, but they have $800 million sitting there as

well a great looking side there the one issue is you look at the multiple it's pretty high. but they're growing, growing, growing and where are they growing? double digit growth earnings up 20%. revenue in that 20% area as well the idea that we're seeing right now in terms of growth, i love it here's the chart down 1.5% today on a stock that's a high multiple stock why aren't they getting hit? they have growth that's a u.s. centric company. i like lulu. >> second quarter blowout numbers but this holiday season is massive for them. i see expectations extremely high. >> they are but i think this is why they can exceed it, tim. e-commerce, they crush it every quarter. i expect that to be very strong for them as well they don't have as much of that international exposure as a lot of companies they're getting there but they're just starting now to go over into china and other places around the world the fact that the u.s. centric and a strong economy, i like this name.

>> no more questions time to vote i cannot vote. i'm wearing some stretchy lululemon pants. >> i hope they're not see-through, joe. >> they're not see-through but i must recuse myself but you guys can vote on pete's pitch on lululemon. grasso >> i agree with you, great company. it's a tough valuation and you have tough comps going forward and the chart tells me it's rolling over right now i'm going to say sell. >> oh boy. >> okay. >> b.k., what does b.k. think. do it in the third person, please. >> b.k. thinks it's a no-no. i like what pete's saying. i understand the growth but the problem is in this market environment those high pe stocks can get taken to the wood shed if it breaks through 133, b.k. out. >> i realize my vote doesn't matter but i'm a buyer of what pete had to say. new ceo is crushing it

i think they had a blowout quarter that carries into this holiday season >> the first time i realized pete's bald. >> i do this in central park on the weekends by the way for extra cash, make up for my ge position. >> this is a great idea. are you at home buying pete's pitch for lululemon? vote in our twitter pol poll @cnbcfastmoney. results later in the show. quick programming note, don't miss a veteran's day edition of "mad money." jim's saluting our troops. more "fast money" straight ahead.

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many more are created in the community. because energy touches so many industries, it supports 10 million u.s. jobs. i am a techie dad.n. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience.

my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. welcome back to "fast money. it is make for break for retailers. a number of names like home depot, macy's and jcpenney gear up for earnings this week. despite the market turbulence, the xrtetf that traction tks thp is still up year-to-date brian, what are the names that b.k. is watching this week >> he's going to look at home depot and he's going to look at walmart and primarily because everybody has been saying the one thing that's holding up the market and the economy is the u.s. consumer. we're coming obviously into the holiday season, supposed to be

strong something like home depot does not do well, then i think you have another crack in the market how did you like that? >> i liked it. b.k. did good. >> the bottom line is i think the approach to this holiday season, especially for a company like macy's is very different. this is a stock that rewarded people who had faith in their turnaround the department store which was going out of business suddenly going to be this livelihood? the valuation is doable for a company that's gotten their business in order and i think you can get long in the stock again. >> thank you, tim. all right, i'm going to try it the options market is implying interesting moves for two big box retailers. mike ko is out in san francisco to break it down they said i could be one of the guys immediately if i said take it away, koko. >> that's one of my many

nicknames, yeah. so b.k. was talking about walmart and home depot and i don't know if those two names are very close parallels of one another but one thing they do share is above average implied moves for this particular earnings release it's about 4.25% for home depot, 4.5% for walmart and as i said that's well above average for those two names. in walmart it was well above average volume i was looking at home depot and it was the november 175 puts in particular that were catching my eye. over 5600 of those ended up trading for about 1.$1.75. the above average move might likely be lower by the end of the week. >> mike, thanks. he wanted to be called t-bone. >> t-bone! >> we got to go.

okay, t-bone for more options action, check out the full show friday at 5:30 p.m. eastern so lionel, what does being able to trade 24/5 mean to you? well, it means i can trade after the market closes. it's true. so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise. right. but you can trade... from, from... from darkness to light. ♪ you're not gonna say it are you?

♪ ♪

put your data to work on the cloud that drives business. the ibm cloud. the cloud for smarter business. okay, you know what pete listens to when he's practicing his downward facing dog? tony braxton's "unbreak my heart" because america voted no

on lulu. >> doesn't hurt my feelings. >> final trade. >> america. >> b.k.? >> mcdonald's. >> tim >> boeing. holding up. >> all right, "mad money" starts right now. thank you. >> way to go, joe. >> thanks, guys. my mission is simple, to make you money i'm here to level the playing field for all investors. there is always a bull market somewhere, and i promise to help you find it. "mad money" now. ♪ hey, i'm cramer. welcome to a very special veterans day edition of "mad money. welcome to cramerica other people want to make friends.