will go up on that because we have rallied hard in the bond market. >> i guess also watching opec as well because energy was the worst performing and all prices slipped earlier. today, mike as always thanks morgan things for filling in. >> thanks. >> that does it for the "closing bell.." "fast money" -- >> "fast money" starts right now. live from the cnbc headquarters in inglewood cliffs new jersey, scott wapner in for melissa lee. traders on the desk are pete najarian tim seymour karen finerman and dan nathan tonight on fast a stunning reversal and wall street the down are dow with a drop early in the day rallying nearly 800 points from the lows almost coming all the way back, ending down just a mere 79 points and after taking out the november lows, the s&p bouncing back to end the day nearly flat as well. the nasdaq closing day in the

green. up.5%. >> is that a bottom. >> it feels like that, yeah. i mean, the turn that we had as amazing. the fact we saw the spike in volatility where we were you want we have been talking about when it volatility getting the explosives days? well we certainly got that today. we -- as as a matter of fact volatility started coming back before the market started to rice, scott. that was something interesting as well. we got up near 26 then starting to pull back then the market caught up and then we saw the move upside. it was nasdaq that really did lead this first. whether you wanted fang names, maga names whichever you want, the technology side really was what started to push in market back up to the upside. >> bottom end, that's the question everybody wants to know is that the kind of activity, dan that says got a bottom. >> you're looking at the wrong guy for the bottom. >> no, no. >> down 1,500 points over two days >> that was a massive maffe intraday rereversal led right bay maga motorcyclist, azmodan

google apple apple didn't participate much. so here is the thing we might be trading in this range a couple hundred-point range in the s&p for a couple of weeks now. we have a budget showdown. we know we have the fed meeting on december 19th there are massive catalysting. i think we see the volatility the next couple weeks. >> but volatility implies that you say we have a bottom here telephones you we resolved issues that were unresolved. bottom line you got the 26 test on the snchd the three cs of credit, crude and. >> curmudgeon. >> third p. >> i'm -- i had another three. >> i'm not sure. >> crude, credit and the curve bfl stp let's talk about bonds because what turned in around was the bond market. remember, the 10-year bond in yields and went from 39.05 to it.82 on the sbra day. we were as overbought on

10-years or yields as we need in a decade to say people overreacted to the other side i think they had the fed has been out in the last couple days and given people a sense they are more data dependent than they had been. >> journal says slowing fed approach what's your views on where we are. >> definitely dovish comments. that was good. i think we were down -- we reversed all of the positive from china from the g20 rather, all of the positive from powell becoming more dovish we reversed that and i look at where we are with china post g20, this arrest -- that is not going unanswered so i think that we're in for more bad news on the tariff front rather than good news. >> you think that was a big reason the market was down the way it was. >> absolutely, overnight, i believe that. >> totally agree. >> it it flipped when the news hit. scott we were trading positive and suddenly we rolled to the downside what's the news out there? that was the only news out there. if you looked around what else was moving the market and

suddenly we are down a couple hundred points from being up a couple hundred. >> what about the notion we are making too much of everything. >> that's a pretty aggressive move. >> relative to the trade dynamic -- i don't think you can undersystematic the trade dynamic. there is someone could be watching the markets and say the market has skiz ofriendsia we haven't seen for a long time but when you consider that the entire wormed has shut done. we got ism numbers today that are fine because it's services. but if you look at input from around the world, everything we hear from the companies, the beige book yesterday, you are quickly seeing companies adjust. and everything good we did fiscally i think is unwound. and -- >> you ask a question, are people making a mountain out of mole hill. you you hear the toll brothers saying the media is talking about the weak housing number. when did leon cooper say as soon

as you do that sperl we turned everyone is looking at us and blaming us it's fine to blame me. that's fine. but these guys, but it seems there is a lot of that right now. >> you go from the yield curve is flat to omy god we are going into recession tomorrow with, that's the sort of feeling nates perm natureiated markets the worst the case case scenario across the board. >> i say this all the time so if the consensus is that it's going to take 12 to 18 months when the yield curve inconverts, 2s and 10s to a recession why don't you want to hear the contrarian notion that it could happen sooner than we expect that that's what risk assets have been telling us the last couple months maybe it's not 2020 thing. maybe it's mid-2019 thing. when you look at global growth you start looking at the -- we are not having the tailwinds from fiscal stimulus anymore maybe it comes sooner why don't you want to hear that. >> you should hear everything. but the point lee cooperman coming right on at 12:00

said positive things about where we are from the buying opportunity standpoint thinks that people pr too information. let's listen to him and talk about it on the other zblied in my 50 years of doing in? what do i look at? the economy, the inflation i look at moneyary policy. valuation, bonds have verses stocks and everything comes up, you know, saying it's a great buying opportunity. >> is he wrong. >> it was a calming voice today, right? when everybody is screaming -- when we came on he were close to 700 points down on off the bottom of the day. and lee started to speak it's almost as if everybody listened i mean what he came out there with, scott was he talked about something i've been hitting on a algorithms abthe uptick roll people can say, i don't understand, you don't have any of those things holding you back on the way up. i still think you have to have something on the markets on the downside to hold it in place give stabilization to the

marketplace. the uptick role in 2007. lee talked about that. but he talk talked about, look there are great opportunities. i totally grow as a matter of fact, i bought one ofs the names today. pitching that later on tonight but it's really interesting -- i tree to tease these thiks. but i think his calming voice came in and said, look, there are opportunities created by the fact that we are seeing these massive moves to the down zblood let's not forget, karen, buying the dip has not worked of late >> since the last two months. >> in the last two months all of a sudden buying the dip hasn't worked. >> right. >> lee suggests now is the time to buythe dip tp is it going t work >> lee's outlook is long-term. and he doesn't care if he has a lot of volatility in the portfolio in the short-term, right. i think he will probably be right. i'm long, always long biased and you know, it's been a difficult two months but it's interesting you listen to jamie dimon or brian moynihan

talking about the strength of the kpee. >> everybody from dc one after the other. >> very positive but i think tariffs and trade move in market i think that i don't think we are in the clear at all i think uncertainty moves this market if we have a tariff trade deal, even if wasn't a great deal that would be better for the market. >> yeah, but i think if you nifrpg again about positioning and where people are complacent and maybe overreacting process on a minute day to day -- we traded off two days from the peak of the first prayed trading lay after thifrg to the lows today we paraded up 6.5% in the two sessions that's oversold. at some point people need to step in, fb. but if you consider the dynamics -- and back to technical -- i'm not a technical freak. i use them at least as a tool along with everything else and to be clear we broke down technicals on two to three-year trends in a couple of major classes. the dax broke an trend we talked about the oversold

conditions that could indicate -- >> oversold isn't reason enough for a bounce, right? you need a catalyst. and maybe we got a confluence of catalysts today. it's cooperman, eye. >> dimen >> the it's the fed. >> it's the fed. >> everything is a calm, hey, i think we are making too much, their opinions, of an economy falling out of betted. a fed getting too aggressive you know the trade skirm irk that dimon said, not a war. >> i think yields told us this the last couple weeks, that a in more dovish sudafed not particularly bullish foshag equities i believe that you may have this knee jerk reaction into december 17th off the oversold conditions. but i'm not sure once with we get to december 20th that's bullish if they wait in december and push it out. >> we mentioned jamie dimon sitting down with becky quick earlier today comments on the markets. >> there are a lot of things

happening that may come together in in the wrong way in late 2021 20% yoegt over ten years should have been 40% thp. that aenemy anemiaic growth is it is part of reason we didn't have capital expenditures. not enough high paying jobs and not enough opportunities for people it's not the tail end of the cycle but it's possible the acceleration we are seeing is traditional for to the last third of a cycle it's possible to have three years left. >> booya. >> we have a cramer alert for more on that and the woil day let's bring in cnbc jim cramer live tonight you got the positive comments from dimon i hope you listened to lee what do you make of the way it unfoeflded >> i thought lee helped the market and you watch hout the market become bottomed and. and then he talked about creating value but he talked about driving people away. and that's what the stock market

does the s.e.c. doesn't view it as its job to figure out if it's a level playing field between institutions or individuals or fast money be, slow money. or algorithmic money and it's driven people off making them think they can only do etfs. i think jamie is a great banker but there is weakening housing there is weakening electricity use, reactens autos, weakening construction weakening chemical, weakening paper, weakening oil altogether, yes there is dwood but we have to admit there is bad. the idea that the fed does one and then waits, i'm fine with. but i'm not fine with the idea that the fetid says we just got to cope going. because that's too much weakness it should be a little bit more measured the fed should be less rash. no one likes to criticize the fed. i don't understand that. i'm perfectly willing to say a green bay coach should be fired even though he is this in a burcham of nsk championships and

super bowl winner. but we can't say anything about the fed chief who comes out and says the wrong thing that the economy is strong at the weakest moept pmt these are people putting the pants on one leg at a time and we should be able to criticize them and not go by i'dly. >> they know nothing >> when they know nothing. >> today feel pliek a bottom to you, jim the way stocks rebounded. >> i like the fact -- look at it this which, obviously the mechanics of the market were weird in terms of the day off and wapd with the futures. i was disturbed by the fact that there must be something really going wrong frankly in huawei with that the canadians do our bidding. there is serious implication of guilt. that helps the cold warriors in the the stock. facebook has to be the most revield stock of the time and the stock ral idea when it rallies on downgrades that is positive but yes if the fed says the

wrong thing and the president is paraprocess pennsylvania the at the timic great understatement there are things that may make the algos go wrong pick the spot. facebook proved to be a great buy today. the fact that apple didn't finish at a low was odd. the fact that broadcom is probably the most involved and in the cross err hairs with china after huawei these are positives. but the most positive was the interview with lee because they don't want -- they don't want to bring up the uptick rule, the institutions that love to go in and out of stocks too much money being made betting against the individual and betting with the institutions and i hate that, scott that's why it was a great interview. >> thank you innite light of all this what do i have the best acting stock in america today which is yum it's been a buy every time it's done u.s. concrete, we'll talk about a great read on the economy, and then i have a stock down -- a

remarkable amount one of the hottest in the market, olly's bargain outlook. u.s. concrete was up you listen to crowed and butler you want to buy their stocks and i encourage you to do so we got to find out what happened in canada. scott, that was an episode of 24, maybe season five or zblieks i suspect we are finding out more in the days ahead. >> released on her own recognizance you can you imagine. >> appreciate it, jim. >> thank you buddy. >> "mad money," 6:00 p.m. do not miss jim's show talking about what happened today and where we go from here come up, the arrest as jim was saying with, heard around the world, the cfo of a marilyn chinese tech firm taken into custody. we tell you wooty shook the global markets plus the stop strategist who, has been calling for a year end rally now says it's dead on arrival. what made him change his tune? we will explain. we are live from the cnbc

headquarters in inglewood cliffs, newman tonight much more "fast money" right after this s pocke

. back on "fast money. broad kochl beating earnings after the bell a bright spot for a stock ha has

been in a rough spot josh lipton with the details. >> so that brought com call is starting here. the cfo on the call. going forward he says in terms of disclosure, they are planning to do away with quarterly guidance, instead saying they are moving to annual guidance going forward. he says that more accurately reflects how he manages the business as for the print itself, i checked in with bernstein stacey razcom ary broadcom bull. he says gross margin way above 2019 guidance up by his math 2350 for fiscal '19. higher than the street looked for. and a massive dividend raise we should mention that broadcom added 6 billion to the buyback plan other chip names under pressure, smh did finish in the red. and as we are busy seeing how much exposure the names for

example had to huawei given the arrest of the cfo .bottom line at least their clients saw it as incremental headwind more material issues the smh closed well off the lows of the session still on track for the worst year since 2011. back to you. >> josh, thank you let's talk the chip stocks you could look become and say in many ways that the chips helped lead you into this, right? >> no doubt. >> no doubt. >> they led you out of bed first. do you need them to lead you out given that they are out. >> they've been the easiest line you can draw to the tech push obeyback and acrimony. they pulled back 9% in three days relative to the market pulling with back 6.537 they trade with beta. you have seen that since june. so they underperformed if you look at intel, though intel outperformed the market after it bottomed two months ago. you look the the more diversified chip play with a great balance sheet on and

multiple entice a smarter play in chips hand the high multiple stocks >> pete you watch these close. >> absolutely. i think this forecast is amazing. any raise to do by $2 billion to $24.5 billion for 2009 nobody seems to be screaming, that they cut back appear not giving quarterly anymore going for the full year. >> they do give i'd zbloons everybody is all over sfm apple for not giving us units but revenue. but they don't want to give units anymore. everybody kremd. i point that out because that slipped under. tim is 10 oh% right with intel tell us the name tell us who the ceo. >> taking a lopping time that stock was cut to sell yesterday. >> yet today $2 off the lows from where it closed a nice out of intel in the earnings i expect that to be up tomorrow. >> tech may have maid a comeback today but bun trader believes the group isn't out of the woods. let's bring in joel, the head of

technology and media trading at wedbush coming from toronto. joel, well >> thanks for having me on. >> how come you don't think tech it $out of the woods. >> whatever hawk tom pulled out of the hat it's impressive what he is seeing from the semi end market is clearly not recommend nissan to what his et competitors are see processing data points are doctorate deteriorating. you listen to management whether at barclays or nasdaq tech conference in london there are things certain there is a lot -- there is no visibility as far as tariffs go. and regarding you know outlooks into 2019. there is uncertainty everybody wants to talk about 2020 and beyond. but i'll tell you it seems like a lot of ceo and management from the semi companies are banking on hope, that things improve what we have been seeing the past six to seven weeks, you know, microchip first flagged the issues in mid-august the inventory levels were on the rise and we're seeing cracks

across multiple markets that were bullet proof for i have five or six years, whether automotive where industrial, did he accelerating data center spend. there are sthu yous that weren't around for the bulk of the bull market and it's unraveling a bit. >> more broadly, though, the price action today was farrell interesting. especially in the amazon, facebooks, googles you don't at a take any of that as solace about where we can be going from here? >> well, as far as tech, i mean, i think there is definitely pockets that are firing on all cylinders. look no further nan the cloud sass pocket. we had great numbers from salesforce and z scale are mongo dbp. okay taken to name a few. the secular shift to cloud is relatively in the early earnings you are seeing a further shift to that pocket of tech as a digital transformation is still under way. i'm looking at the semi conductor space why try to catch

fueling knives when the ceos can't predict what to expect in 2019. >> i'm going beyond the semi stocks, the way the fangs came back, you know, apple, mae not have had as god a day as some of the others but the valuations of the stocks that have come down as the market has gone through this correction, you're telling me that none of niece are worth a buy here >> the semi conductors, no i think there is better names to own. you want to look to large cap. >> i keep talking about the frank -- i'm trying to get to the fangs. >> fang stocks i think to me facebook is the still kind of uninvestable given the regulatory overhang on the stock and a lot of execution issues from zuckerberg. but amazon is a disruptive company. goog sell relatively cheap you definitely are nibbling on the long side of those elsewhere maybe the chinese names are getted flushed ten cent, alibaba, those type names they're less own pd now than two or three months ago you look at those names in the

large cap complex or the cloud names, salesforce, microsoft rb red hat they're executing and firing on all sild zbleers appreciate it, joel. thank you. what do you think. >> i thought facebook was the most interesting today i mean, those articles out this morning read terribly. and the market was obviously down it wasn't down that much more or maybe even a little less than the other fangs and rallied strongly that's a a countrice for that. they have been leading us out if we are going out then. but i think the semis need to follow to really get out. >> i think what joel is saying you want to avoid the commodity advertised tech stories that don't have great visibility. when you look at broadcom, the concentration. the apple at 9%.

fox conand then huawei at 6% you want to avoid that with the guidance change. but one thing he said that's important is the cloud names -- this is really important, high margins. all the companies, enterprises globally transforming businesses you also have governments. these are companies with 70, 80% gross margins. >> salesforce kills it. >> that's what i'm saying. a secular shift. the buy list should be those names. >> the problem with that is i agree with everything you say but those are the big multiple stocks, the stocks that make sense in the environment are are a google -- i think the most important stock today fucht to start culling a turn was apple apple traded down to 171 level 26% off the high. >> another price cut today. >> thanks very much after 25% when you were tshl at 280. i just think if you want to talk about a stock with a multiple that is very defendable especially when their capital markets activity it spinning out

50 billion in cash flow a year what happened to sentiment in that stock you talk about how people -- that is the one emblematic how the market sentiment changed so much. >> yes coming up, what's got wall street so off sides heading into the year end a top strategist in from wells fargo explains what he has gotten wrong and why he is now plus pete is stepping up to the plate to give us the beaten down housing stock about to break out. live from headquarters, cnbc headquarters in inglewood cliffs, new jersey more after this break.

welcome back to "fast money. what a year on wall street leaving many top strategists off

sids with the year-end s&p 500 targets. our bob pisani joining with us more on that about. >> many still relatively bullish. the snpd swung in a 75-point range today. the dow moved from a 500 point high to low. imfs's kris to a teen lagarde. the imf, fed officials are becoming less the positive on how the tar var the central bank needs torg the three biggest market concerns only fears of aggressive fed have lessened in the last week process. the other issue base trafr and trade and global slowdown. they're not resolved there is signs those concerns increased wall street strategists remain convinced the markets could have the lows and in some cases significantly. all the major straegtists have year end targets above the s&p close. that was 26953 cannacord expects

the s&p to close at 3,200, a nearly 19% gain from today's close. ubs, 3150. a 17% be gain from the close today. jp morgan, 3,000 bmo, 2950 opinion. and the leet bull sish goldman expecting the s&p to close at 2850 but even that is a 6% gain from today. 2019 is a bit more problematic you remember michael wilson, the morgan stanley chief strategist he made waves by calling for the s&p 500 to end 2019 at 2750, just barely above where where o we close today. >> bob thanks so much. bob pisani new york stock exchange because there is a discrepancy on what people think earnings are going to be. >> right its consensus is about up 7% for sout there's been people dialing it back you have to. and the relatively basis is here is also to what extent is guidance changed dramatically from when the 7% was set

>> our next guest has ha 2018 year end target of 9112950 10% away from that level now now he says the santa rally is dead on arrival. let's bring in chris harvey. >> dead santa. >> at wells fargo. >> thanks for being here. >> i wouldn't say it's dead and arrival. but earlier today is looked like christmas was cancelled and santa was caught in customs. >> i'll ask you. >> i'll ask you the question i asked at the top is that a bottom. >> we think we've been scrapping at the bottom. what we've been saying to clients there is value on the ground there is a massive deare risking. sent sumit horrific. one thick we don't have liquidity coming out of the z system we don't have the margin but what we don't have to worry about and the way things fall apart is when liquidity comes out. the banking system we can argue the multiples and the valuation. but the bank sheets are good that's keeping us bullish.

>> hold on. >> please. >> we went from 2950 to the santa dead on arrival to bullish again. >> we've always been -- if you remember we called it a trailers market for some time above 2,900 derisk now you come down rerisk. >> but you said on november the 1st. >> right. >> for argument's sake call it a month. >> yeah. >> we're in for a monster rally. >> right. >> then you said that things have changed you have taken that rally idea off the table. >> so the monster rally we still think things go high are things are good here we are looking smart on monday things are up 6% from that call. on tenancy -- on z tuesday, running out of room. is there opportunity here? yes. >> do things go high sfleer yes. >> can we make it to the target? we are running out of room but at theened of the day that's not the issue. if you buy today rebel loh will

you be happen hon 12/33/19. >> we think you will. >> liquidity in the markets or banking system or credit. >> when we talk about liquidity sits credit do we have access to capitol? because when recession -- things go haywire usually what happens is access to capital disappears. the credit markets are open 40 billion-dollar of issuance convert issuance but more importantly when things get tough and dicey can the banking system provide the capital? they can the bank balance sheets are as good as a long time. >> jamie dimon was asked about that issue, the credit markets. >> he would never admit it we are seeing credit issuance scale back dramatically. when you think about it whatever the fed tells us december 19, they are tightening. letting hundreds of billions of dollars roll oh off the balance sheet that's tightening. jamie dimon did say slower lone growth

i don't see the catalyst the bank stocks told you today any didn't come back today i don't think we are having a great 2009 year for investable -- investing in bank stocks. >> so the point is not investing in bank stocks again we can argue about what the multiples are. >> your point is the health of the overall economy. >> when things get difficult can they provide -- can access to capital happen can the companies need going get access the answer is yes. usually at this point in the cycle banks balance sheets are upside down and toxic. >> citigroup down 10% in four trading days is telling but the liquidity and the prospect for lending. >> that could have been 50 other stocks. >> i think bank related. >> they've got credit international exposure that many of the other banks don't vermont same thing. >> really? >> absolutely. >> the question, chris, your more about -- one of things you said near the end of november, you got the argument that maybe everyone had derisked this was the way things were looking

good it's positioning i get the assembles of a a lot of complacency a lot of strategists are bullish where he go from here. and i don't think the repositions is extraordinary. >> strategy side is -- on liquidity back to did he risking stocks are down not great. but a lot of times that's a demand for liquidity in '07 you had people levered to value in a large way middle of '07 it cascaded out and you had big demand for liquidity it's similar to what people happened now. people levered to growth and it rolled out and there was cascading out. when the tune comes up related to non-fundamentals reasons that's a great opportunity. >> let's say we are not geing to 2950 between now and the end of the year where can we get. >> we can eye easily get to 2,900. not far away

we had a 6 point swing in 24 hours. 24 hours of trading. or a little bit more than that so you can easily have that post-news come back into the marketplace. that's not a surprise. we're sitting around 2,700 we tested 2,800 not that long ago. >> 200 s&p points it's time for that. >> it is. >> you guys agree with that. >> no one? >> it's possible >> the i don't want crickets i want a debate. >> what are the biggest concerns for the mechanic let's go after this it's fed, trade and a fupgs of both of knows things it's growth no way we go from 3% global growth where with we downshifted right now from 4.3 to negative growth next year is the s&p now priced to a place where i think it's reasonably attractive yes. you can make that argument the equity risk premium is attractive but that's a long way to go because trade is going to be a daily headline from here on out.

>> i think the issue is the trade skirmish right. everybody talks about the war and you hear. >> why does it have to be a war? way skirmish. >> absolutely. >> are you disagreeing >> i think jamie dimon said the uncertainty factor and if there is 90 days if you listened to him closely he didn't think it's getting resolved in 90 days either could it improve yes. do with we get to 2,900? sure seems like a long shot to me i would say no to that but it doesn't mean we can't trade higher it means 2,900 seems like a big jump until we get something resolved at some point in time. >> i know dan you don't because you said as much. >> i don't know -- i don't see the catalysts. i think the trade, the broader issues, these take quarters if not years to figure out. i think the slowing we are seeing global by the sit at this time group to down of because deutsche bank. deutsche bank is down because of the balance sheets in a bad spot but reflective of the european economy. one of the biggest banks i just don't see that the u.s.

is going to drag the rest of the world out of in when we have so many headwinds right now i think the bank stocks have been telling us. cyclical stocks like semi cult conductors are telling us this industrials. i've been saying this for months. >> the at least it's not the other finger. >> it feels like it. >> anything could happen we have seen the bond rally and equities down. you could see a reweighting at the end of the year, money out of bonds into equity given how much they moved relative to each other in the last bond. >> bonds are overbought. >> that's a wagon toward you big boy. >> good talking you chris. >> thank you. >> we have much more upon the wild day on wall street. we tell you which stock pete najarian says looks like it could be a barring media spots a bright spot. at&t ceo randall stephance sitting down with becky quick earlier today. we'll bring you the comments right after this your muscles look good, but we should be seeing

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welcome back to "fast money. wild day on wall street. the dow down more than 780 points it at the lows of the session before staging a major comeback, ending down just 80 points with today's move the s&p 500 roughly 8% off the late september high and on track for the worst quarter in seven years. nearly half of the index in bear market down 20% or more oft respective highs. but if you are looking to buy

today. pete narjen has a barring. he is tell telestrator the plasma for his fast pitch. feet pete. >> earlier today talking about lee cooperman and you were there scott. he was talking about the this name lennar, that started triggering for me and we saw activity i got more interested. first lee then the options got me into the stock. i bought it today. during the show. look at this the stock is cheap he pointed this out as well. he pointed out the fact that single digits, he said six or seven. it might be more than that in terms of pe. but it's a very inexpense of stock trading under book value stock was in the 70s now in the low 40s so i think that's an opportunity. but that's not the only reason i think a big reason is you look at this growth if you go over the last five years and look at where they were in terms of the revenue, it's gone from about $6 billion to over $20 billion. that's incredible fwroegt to me. you look at earnings also. this is a company next year,

$6.60 they were $2 five years ago. they have growth into the future the other thing is this management team and this has been a long run management team, a new ceo but he has been with the company a long time, look at what they have done with squikss the last couple years. they made the biggest one just this year. that's something they needed to do they have been spending the money in the right places, bringing down some of the debt they put out to make the purchase i think this is a company that over the years because the acquisitions makes them stronger this is a name that's been beat up i agree with lee i took a look at all the aspects i like i had noogt this name. i like it. >> interesting timing, karen. >> you have a question. >> i have a question, pete preponderates have come in more than a little bit. a lot. how important is that to them and what if they head back up. >> that would be concerning, karen. because that's something everybody talked about when they talked about the housing numbers. when they've gotten weaker is when the rates rice back up again and that's the pressure. i don't know, karen. none of us have a great handle on this. but if we are in the area where

we are right now something ubd three, i think that's helping a lot in terms of what's going on with the a lot of what's been going on in the finance side of the housing mechanic. >> pete, i think the ralgs is getting interesting here i like to lean with in you in that direction at the end of the third quarter numbers any saw softness in demand what do you do is that offset enough by the valuations >> i would say the demand soft knit was all to do with what we talked about, rates. as we have seen some of that pullback i think that softness becomes a strength again. >> no more questions time to vote are you buying pete's pitch on lennar yeah, tim. >> yeah, sorry that's -- that's yet another picture of pete. i agree with in. i think the valuation is very compelling again in pause and demand, i think you kwo make argument they are buying back stock. i think the company is well run. >> karen. >> yes i draw like a 4-year-old actually i agree i think the valuation is attractive a little bit -- it's priced in

bad news. >> here comes the negativity. >> if valuation the only things you guys come up. >> it's not the only thing. >> ten years in into the housing recovery it's done it's over. >> we're not debating this. >> vote and leave. >> i just did. you don't call the shots around here he does this with mel too, scott. here is the deal. >> dan has the floor. >> the if the economy starts to reaccelerate that means rates are going high are the very reason you said that demand was softening was higher rates. >> you create a sfloer it will never improve. >> if you want to lean on unemployment. >> do you not think the housing stocks haven't priced in everything you just said >> tink this stock was double this amount a year and a half ago. you look at the it is trailing. >> these pete's pitch. >> listen to you you're the one went off on a bear tangent on somebody's fast pitch. >> we want to marry from you at home i want to know if you are buying pete's pitch for lennar.

vote in the poll at cnbc "fast money. send us a tweet about a because with all the market moves our erg ers are answinthe burning questions. that's right after the break tonight. we stay with you to and through retirement. i get that voya is with me through retirement, i'm just surprised it means in my kitchen. so, that means no breakfast? voya. helping you to and through retirement.

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you. better is out there. ally. do it right. welcome back to "fast money. stocks taking investors on a big-time roller coaster rye the last couple months with all the crazy moves we thought it was the perfect time to take tweets our first viewer asking ton -- thank you for the questions and the tweets what do the panelists think of the transports and specifically

fedex and ups, karen >> well, thanks for the twet i'm long them both, which has been painful the last two days you had negative news about the u.s. postal service rchg what the last mile of delivery. and then amazon potentially threaten do they build their own? all that said, i like them both. and the ecommerce trend is a jugger thought and they will benefit from that. i like them both. >> pete, fdx orp ups. >> not surprisingly tim. >> i know he had something to say. >> tim. >> bottom line here is i think feddic if you think about the core business it kinning to dwro grow eps akreetive. the acquisition is the gift that keefs on giving on ground express the amaze is an overrated threat trade fog the 60 to 225. in this carb free cash flow,

great dividend. >> you want to go again? >> i'll take another one. >> intel has held up well recently we talked about in earlier danny boy, coming to you is it a goodbye. >> i'm modest -- modestly >> i'm modest -- modestly predisposed to be positive

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>> more than 70% said -- >> that's okay, scott. that's all right >> they said, get off my lawn, get out of my house. pete >> i'm going to go with f.a.n.g. but this is diamondback

f.a.n.g., energy it's bounced $100. >> i like dan who is positive and negative on intel. i'm just positive. >> i said positively bearish >> apple, i like it. >> xlu >> "mad money" with jim cramer begins right now 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 money. my job is not just to entertain but teach you. so call me at 1-800-743-cnbc or tweet me @jimcramer. after today's roller coaster action, dow at one point down 784 points, to close off just 79