apple stakes or bank stakes? >> proxy for banks, financial and apple for better or worse. apple stake is not big enough to matter but psychologically. >> we'll see what tuesday brings kind of fun. >> maybe in a year. >> that does it for the "closing bell," "fast money" begins right now. >> you said it, "fast money" starts right now live from the nasdaq market site overlooking times square i'm joe kernen in for melissa lee. i did the nicknames. tim seymour. carter big net werth steve cut the grasso and guy adami s&p 500 tracks for its worst year since the financial crisis. one of wall street's biggest bulls says the bottom isn't in yet. plus, as volatility spooks investors, one of fidelity's top investment advisors says people are making a huge mistake

managing their $401 ks it could be thanks to none other than apple things were ugly this morning. the dow sinking as many as 500 points at the lows of the session. suddenly a reversal of fortune apple making a sudden comeback midday and it took the rest of the market with it the dow closed up whiby more thn 30 points. the nasdaq was up 30%. it ended up not 50 what was behind the move let's get to josh lip ton in san francisco. on a chart it spiked what the heck happened, josh >> joe, as you mentioned, apple was in the red chinese court issued preliminary injunctions against the sale of older iphone models saying apple infringed on patents held by

qualcomm the stock started to make a move higher during the halftime report when jim cramer and the traders were talking positively about the stock, take a listen >> this could be a meaningful turning point in the stock today. right now. here's the situation stock opened at 165. got down to $163.33 this morning. the high was $166.88 now you're back at $165. the buyers came in where they should have. >> they're acting as if the 11 billion in chinese stals this previous quarter is going to evaporate next and that there's going to lose $40 billion in sales. i don't think you can get some small province, the provinces are bigger than anything we have, that is really derailing if i have pictures of people buying them today. >> apple ended the day higher saying all iphone models remain available in china the stock is down 20% as the

street continues to worry about iphone unit growth in the quarters ahead we've seen analysts busy slashing estimates today citi joining in maintaining its buy rating on apple but lowering its price target to 200 down from 240. joe, back to you. >> josh, thanks. is the worst over for apple? if it continues to rally, will the rest of the market recover what do you think, guy >> first of all, welcome. >> thank you. >> you weren't here last time. >> i was not here. this is your second appearance on cnbc's "fast money." >> secretary of hopefully many, many, many. >> there is no sincerity in that many, many, many you didn't mean that. >> i'm here to help. i'm here to please. >> the question is, is the worst over for apple and if apple can rally from here? is that all well for the broader market >> pretty clear, guy >> i'm stalling for time a couple weeks ago i thought the worst was in for apple after president trump tweeted for

apple getting caught up in the tariffs. stock was 7 p. -- 73. i was wrong. the level traded down today so i think josh brown's point earlier today was the levels we last saw in april if nothing else given it traded almost two times normal volume, you have something to trade against. i do think given the fact that we've come down from 225, most if not all of this news about china is in it to answer your question, the worst is over for apple. >> is this why we traded down? this is not. this is the latest the reason why. >> the market or apple >> apple specifically apple this is the latest headwind. every other thing bounced. amazon apple at some point was due for a bounce it having not stopped going down apple was the last one to be sold off >> it's a cycle and we're through the cycle on an intermediate basis. >> it's not as simple if you

loved it when it was a trillion and 50 billion. >> i'll tell you what, joe why can't you like it now? >> the story is not over we reached some sort of peak in iphone sales asps weren't going to be enough. >> i know. i know. >> let me jump in here to me nothing has changed in apple's story over the last two months to be consistent, you have to like apple as much today as you did two months ago with the exception of possibly today's news is certainly different. i don't think -- i think the trade dynamics are very much the same you take 10% off a shipment from apple you still are around 200 units, 205 over the next couple of years that takes about 5% off the sales. still takes you at 12 bucks a share which makes you less than 14 -- >> but what has changed is not a guidance that spooked everyone. >> i don't like it either.

apple is one company that i'll give a pass. this assumption that the stall base will evaporate. if we were so excited about services three months ago, we should be more excited or as excited. >> black friday when you go into the place and there's all the big sales, the stuff you really want, is it ever 30% off, 40% off? >> no. no >> i mean, apple was the belle of the ball. so you really want to get it cheaper than 20% how does that happen >> it's interesting. i think the news that they were no longer going to give guidance was actually a good thing. obviously the market didn't think so if they're making the turn from a hardware company to a services company. >> or they want you to think that. >> they want you to think that maybe they knew this qualcomm news was coming. with that said, the move from 230ish to 165 today, you wonder how much of that if not all of it is priced in. >> is it in the charts or can you tell me what's going to happen >> we're going to try to figure

that out. >> really? >> we'll go over and look in a few. >> you're going to get up and look at that snnchts are you sending him over >> is he being banished to the board? >> this early in the show? >> now >> never done this on squawk >> no. >> we go to the chair. >> here's the last two years apple, no drawings, no lines, no judgments by me and what we do know of course is that apple has a fairly major break in trend. so taking a look at this chart with the trend line drawn, what you'll see is -- well, i'll draw it here myself take a look. we have a well-defined trend literally connected these lows and we have broken from these well-defined lows but at this point having been so precise for so long, we're so far below that we throw back towards trend which is often the case.

a lot of support where we sold off. the idea here is at this point there's the trend line there's the break. after plunging you can typically get a throw back the throw back doesn't fix the situation. it's a trade more than saying apple is out of the woods. i think those highs will stand for a long time. you'd rather be long i think than short let's look at a few things that are important. this is the past bull market we have 45%, we drew down 33 and this is now 30 here's the interesting thing this bottom chart is relative performance to the s&p actually, relative performance peaked back in '11-'12 apple has not been such a good performer. we do know this, that it has responded precisely over and over and over off this relative line i think that's exactly what we're setting up for here. actually, apple is a better bet than the market overall.

let's look at the market and a few things about that. it's been a really bad year. it feels like unch the russell, the median stock is down 9%. there's every possibility that apple is a better bet than the s&p in terms of the sub industry groups numbers up and down within the s&p. it gets down to the question whether at this point you want this volatility, this does not make people want to come into the market when you go down 8% and then rally and then down 7% and then rally, down 8%, the problem with this is this kind of volatility doesn't induce people to buy stocks, it makes them back away. if i put in the up moves, there they are next chart and this basic circumstance is what i would characterize as spasms ultimately that resolve

in lower prices. i'd rather do apple here this makes money get out not in. >> can he come back to the desk? can he come back >> may i ask him a question? >> yeah. >> no, i like him there. >> big fan of your work as you know, carter. >> thank you. >> the trend line that apple broke to the down side, what does apple the stock need to recapture understanding that over time the level that it needs to recapture gets higher and higher where does it need to recapture to break out >> you've got to get back. you've got to get back at least 10%. it would be back to the tops from which it broke out. you have the well-defined tops, yes? that's also the trend line you have this breakout and then this under shoot of the line you should in principle make it back to levels. that's about 6 to 8%. >> come back carter, you saw the -- you

played right into that lead story of the wall street journal. you saw it >> yes. >> nobody's buying the dips. that would explain it. i think that looked like a good pattern until we broke the low, didn't it? >> can i go back >> yes >> the back occurs after the october plunge the worst october in a decade. revision is resolved sharply there's a big debate in principle after a drop like that and a break of a multi-year trend. it's not buy the dip it's something's changed. >> something has very much changed. i would look to two things that are somewhat conflicting you have the smh, semis. all of this and semis before the market rallied back. semis were up. semis are making slightly higher lows ultimately around 280 to 285 if we don't hold that level it's a very scary time for markets.

there's nothing that happens today and we're not going to resolve. that's what carter is saying, we're not going to resolve pain and volatility that's six moves of 6 to 7 to 8% up and down doesn't make anybody feel terribly good today is a nice day for people who thought we were going to break. we've tested 2600 six times on the s&p. why do we need to stop testing >> you need to test it at $25.32 and see if that holds. i thought we were going to do it today. they never forced them down. >> right. >> which is capitulation every time you come down, someone is stepping in you want it to be to the point where people don't want to buy and there's still an appetite. >> that's what's stealing the heart of the market. you're playing around with 200 handles. sucks everyone back in and then takes it right out i don't see a lot of volume behind the moves people that have been beaten up

aren't playing the market. we're in no man's land >> i think that's right. >> phillip, not technical. let's bring it back to talk about secular and cyclical and all of these things. are we still in a secular? diddling around with the correction are we diddling around with the corrections? >> at the beginning of the year every single country had a pmi over 50. the last time that happened was 2007 2007 was a market peak the beginning of this year was a market peak. we've never gotten over that we've been struggling with the blowoff top. that january move is the highest weekly rsi going back to 19 27b. with record in flows that kind of excess isn't worked off easily we're still almost a year later contending. >> we had a record nine day rsi on the s&p that we hadn't seen since the worst of the crisis. >> right that's the crisis versus the over bought. the crisis is ten years ago.

that's getting to be -- >> talking about the pmis and talking about it, the reality of the fundamentals is europe continues to get worst we had the eurozone which is the worst since 2014 you have the italian budget that's a couple headlines away from being a very big deal you have ecb out on thursday they're talking about stopping buying is that economy really ready for that you have terrible export data. no, it's not it's actually getting significantly worse. that's something that this market was not paying attention to for a long time and now is and i think that's appropriate. >> european banks still a concern. even with the news over the weekend about deutsch bank, still stocks down 4% continues to make new lows the russell makes lower highs and lower lows and i can't figure out for the life of me who has the better head of hair, you who looks like barry mel rose or joe kernen.

>> you're doing it naturally, aren't you >> i'm out i'm not even in. >> i put this wig on. >> no, you don't do what the -- ropecia. >> i do, but no thanks. >> you don't want to talk about it. >> no, i don't have it i don't want any. >> split screen, he's there. >> impressive. >> split screen. >> are they too bearish? >> where was bearish we were talking about the marketplace. >> i couldn't know we'll bring the expert in. i'm going with this. anyway, we've been talking about the dow's big reversal today and one of wall street's biggest bulls says we're not out of the woods just yet they're going to tell us the stock that's selling. plus, transports getting crushed ahead of the holidays as fedex and ups track for the worst december in 14 years oil at 15 bucks. is that a warning sign for the

consumer. and as volatility hits the market, a top retirement executive says there's one big mistake people are making with their 40 1k. we're live at the nasdaq on the second floor this is "fast money" and it's 5:00 p.m., i get it. more "fast money" still ahead. your brain is an amazing thing. but as you get older, it naturally begins to change, causing a lack of sharpness, or even trouble with recall.

thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life.

xfinity mobile is a designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that automatically connects you to the most wifi hotspots in millions of places and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile included with your internet. plus, get $200 back when you

when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. welcome back to "fast money. transports being wrecked this month. big delivery names like fedex and ups have been a disaster on track for the worst december in a decade. you can see it on the trucks looks like a double diamond slope out in aspen, fedex does while ups is having the worst december ever. the transportation etf iyt is now down over 8% this month. is this a warning for the consumer i mean, with $50 oil does this make any sense other than a slowdown >> i'll tell you what, joe

i think what we're doing is pricing in a higher index. we haven't seen this in probably 18 months for a company that i think is executing by the way, no one's bringing up this year that in the holiday season and cyber week these guys have been as smooth as silk. execution unlike the last couple of years has been very strong for ups and fedex. i look at ups and the tnt deal very creative. this is as well-run as any i think the amazon threats are overstated to the core business, the final mile i would be buying the stock at these levels. >> sounds like some of the threads to fedex were to fedex, not to ups when you have ups on a relative basis outperformed fedex, i would probably sit there i think there's more shoes to drop, if you will, with fedex. >> you've mentioned the airlines during your little reader, which you did elegantly, i might add

fantastically. >> you weren't here at 7. >> guy almost seems surprised by your execution. >> there's no surprise in my voice. >> put them up right now give me and seymour. >> let's go. >> we're really split. >> we're rarely split. >> it's not just airlines. it's not just fedex and ups. the railroads haven't traded well in the last couple months that has to give you pause as well in terms of the consumers something i'll bring up, i'll say again. unemployment record levels, consumer optimism. another couple weeks of a stock market not being all that frothy and you have to wonder if the consumer is going to be all that willing to spend in the new year. >> handful of stocks that help it we know it's a price weighted index. if we look at fedex and ups, we have 20% almost 45. it's so volatile as we know. it has a perfect double pop. at the beginning of the year, try to make a new high in september, failed. it is the beta why don't we ask you since

you're here. what about the dow theory. >> going well. >> remember, with the transports, the market peaked in the mid '90s in '15 we were so far ahead of the dow that it was a give back trade. >> the index dipped into territory. top bull -- top bull coming -- >> okay. >> maverick. >> saving face the stock story nearly 4% today after announcing big buy back plans. we have those details. i'm joe kernen and you're watching cnbc, first in business worldwide. people know me much more "fast money" still ahead tonight.

rebekkah: opioids has taken everything and everyone i've ever loved away from me. everything. i blew my ankle out and i got prescribed pain pills by my doctor. if making my detox public is gonna help somebody

i'm all for it. i just wish i would've had a warning.

welcome back to "fast money. it was another wild day on wall street with a little bit better outcome. there was more than 500 point swing and we closed up about 30 in the green the index is still down 4% this month. bob pisani is down at the new york stock exchange. bob, i was looking at the notes for what you were going to say at 2:00 and i was saying, you know, we've got to change what you're saying at 2:00. things changed for the better by the end of the session. >> reporter: there almost is a complete one-year trend in the market that you can go through in a single day today, that's how crazy things are so you're right. we saw a real nice bounce today because at the bottom just around the european close a large part of the market was

seriously oversold not just over sold, a lot of it was already in bear market territory. it was awful you see the moves on brexit and the concerns breaking through the october lows then the turn around on the apple talk the big problem right now are the banks. 23% off the 52-week highs, that's as a group, but the entire group set new lows. money center banks like jpmorgan, citigroup, new lows, pnc, they're all at new lows energy down 20% right now. deeper concerns look a little more deeper. materials were down more than 20%. they bounced today down 19% industrials, communications, all down in the mid teens. because there's so many stocks, it doesn't describe the extent of the damage very well. there's verydeep, deep bear markets that have developed in many subsectors. not much of a bounce oil service stocks, halliburton, they're 40% off of their highs home building stocks and

construction stocks are down 1/3 off of their highs metals and mining are down 1/3 on global slowdown and tariff issues same with the autos. autos in the u.s. and europe doesn't matter dollar strength in slower global issues is hurting emerging markets, particularly china which is down 25% on the year. so where are we right now? the russell 3,000, which is about the broadest index on the market, about 11% off the recent 52-week highs. that's market cap weighted the russell 1,000 equal weighted, biggest 1,000 stocks 12% off the high doesn't really matter. that's a pretty good gauge of where we are joe, median stock is 9% off. it doesn't matter at this point. you can slice it average stock, median stock, market capweighted stock, it doesn't matter everything is down 10 to 12% joe, you want to see how clueless the market is apple turned around today on not a lot of talk in the middle of the day about technicals turning

around we did this on our air at 12:00. i think that's a sign that the market really is looking for any kind of direction at this point. it can be very easily moved. back to you. >> bob, thanks one of wall street's biggest bulls, as we can see, bottom as early as next week tony dwyer joins us now. tony, i was trying to figure out, was it 20 -- you were probably sitting on the "squawk box" set 20 years ago? >> probably 22 years ago. >> 22 years ago. >> you said when i got on that's the last time i had hair. >> you've got the same haircut >> bald is beautiful don't hate me because i'm beautiful. >> no, i'm not shiny but -- a lot of powder. >> ran out of powder in makeup >> no, here's what i was thinking where do you think the dow was it was about 4,000, 5,000, 6,000? my point, it doesn't matter we're at 25,000 now. we've been through a lot together in 22 years the moral of the story is it's gone from 4 or 5,000 to 25,000

now where we are right now, this correction is gut wrenching. everybody is watching it. >> it is. >> if we know we're not going into the '70s, 1970s where we ended up in '74 the most gut wrenching thing everyone's seen. if that's not coming, we're not falling off a cliff and we're at 14, 15 times earnings, do you get stocks more than 10 or 15% off their highs? does it ever get better than that for people? >> it could get a little bit worse. as we saw today, anybody that tells me that they can trade the daily movements here, even weekly movements is out of their mind you can see that here's a great example the tick index when you take advancing issues versus declining ticks on a given day, since the october lows, october 26th, october 29th and last thursday you had plus 1400 and then minus 1400 on the same day. basically historic -- you haven't had that for the prior two cycles ever. so you have seen historic

volatility that's a measurement in this cycle of when you're making what i call a shock drop which we had in october when the vix rate of change, the ten-week rate of change and intermediate indicator spikes to 80 over the last ten weeks vix is up 80% then you go into this terrible bottoming process. i call it demoralizing you love it and hate its apathy. it's like i don't care what apple does you're so out of it. that's when you're set up for a collapse in volatility you notice how every retest down to 2600 in the last month and a half you haven't had the vix really drop below 20. you haven't had that, okay, we're good to go for the viewers i think what we try to do is educate as well as guide. what we look for are two things. you look for a reversal in the market that's big enough to drop the vix ten-week rated change down towards zero. we use ten as the level. it's still in the 60s. that's your indicator. that will tell you we've had a

reversal good enough that the volatility guys are giving up on the higher vol and you're good to go. i'm sorry to go on a rant here, joe. when we started doing this in the early 1990s we think this period is unique. >> i wrote it down because i want be to make sure i get it right. have we ever had a period where the president is under investigation by a prosecutor, you have fed policy without -- rate rises without deflation that narrows the yield curve to under ten basis points with trade sanctions on the second largest economy in the world that would be january 1994, janet reno appointed a special prosecutor to investigate clinton on whyitewater a retest december 6th before the fomc meeting on december 19th that flattened the yield curve to 7 basis points. i haven't heard anybody that remembers this because i didn't until i read it today -- >> you have a book over there. >> no, it's okay

>> it's super 301. unfair trade policies with japan and clinton put on trade sanctions with japan. >> bottom line, tony, you think this is a world of issues in our face and it's almost extreme why wouldn't that be a region for more negativity ahead? everything you said there doesn't seem like it would resolve itself. >> you wait for those indicators, the reversal on the s&p from a minus 9 to where it's at to a minus five in a ten-week rated change on the vix goes from up at 80 to ten those are your signs for the viewers that don't want to play with day-to-day volatility that over the last major corrections this cycle it's time to get back in. >> capitulation, you don't think we've had capitulation >> we've been doing this as technical guys for a while, carter sure doesn't feel like it. earlier somebody was covering the put call from strategis. we've all been doing it for a while. has it ever paid to sell a down

10% tape when you're in the in the purview of a recession >> if you're not in a secular bear, if it's a cyclical bear? >> maybe there's collusion, russian collusion, but if it's not, we're talking about another sex scandal with a campaign finance violation. you were talking about a sex scandal in '94 that's what it finally came down to, a blue dress it's bizarre how you went through some of the similarities then we have three straight years of 35% gain back in the '90s. >> joe, covered it on cnbc today. >> he said if it went down 10% he'd be buying another 10. >> here. >> i had a different take on that interview my take on that interview was he said that he thinks that this next rate hike is the last one. >> that's what i was going to ask. >> that happened in 1995 you had a 34% gain you retested the high and that happened in 2006, you had another 20% to go before the recession.

again, i remember, if we invert the yield curve tomorrow, i know people are so sick of this you invert the yield curve tomorrow, 2.10 spread, median gain is 21% over 18 1/2 months without a recession for 19 months the only time it didn't work was 1973 when you had an oil embargo and spike in inflation. >> quick, i know we have -- you think then if the fed like -- mr. jones said today, if the fed doesn't move in '19, that fed put is in place? will the market view that as weakness in a general economy and sell the market? >> in 1995 you had 0.5% gdp growth in the first two quarters of the year. the fed raised rates in february 1st of 1995. it was still up 7.9% it's the perception of what the fed is going to do where you recapture your multiple compression because of the tariff stuff and because of the fed. so, again, you don't have to buy the next take. you can wait for the two indicators we're circling it, surrounding

it. >> most of the interview was about income and equality. why do billionaires always want to solve income and equality >> it's amazing. you don't want to be too skeptical and dark once you get there -- >> you put up roadblocks. >> totally ironic. >> thank you, t.d. >> thank you >> good to see you t.d. ameritrade. anyway, good to see you. financials -- got a nickname for him already -- closing at a 52-week low. some are betting there's more pain ahead. plus, a top retirement experts says investors are making a huge mistake with their retirement accounts. find out what that mistake is when "fast money" returns in just a couple of minutes

welcome back to "fast money. take a look at shares of facebook up more than 3% today after announcing s&p buy back plans. julia boorstin is not really up late at all like us. she has more out there in los angeles where it's early, i'm told, julia. >> reporter: that's right. well, that announcement of facebook share buy back was made late friday sending those facebook shares higher today by more than 3%

now facebook's $9 billion share repurchase program is on top of the $15 billion in repurchases that the company started back in 2017 facebook stock though even after today's gains is still down about 34% from its all-time high that it hit on july 25th as a string of issues around election manipulation, data privacy and transparency continue to weigh on the stock but facebook is actually the only positive stock among the faang names since the beginning of december. facebook is up 1% in the past ten days while the worst performing of them, netflix, is down nearly 6% j&p securities is saying they believe the move, quote, suggests its underlying business trends across both engagement rates and advertising remains strong before the share buy back was announced on friday, sundaytrust's squali says, quote, what's at stake is

advertisers' willingness to continue to spend on the platform we do not feel it's materialized as it continues to perform well from an roi standpoint another factor weighing on the stock is concerns about regulation yesterday australia's antitrust regulator wanted to curb facebook in boldt news and advertising. joe, back to you. >> thank you, julia. we're going to ask carter this looks like -- i need -- are you -- >> i'm here, joe. >> are you on facebook >> i am not on facebook. >> are you on facebook >> do i have a facebook page >> yes >> yes, i do. >> do you? >> no. >> do you? one person only you -- >> hit this guy on the desk. hippest guy on the desk. >> speaking of hips. >> we're going to talk about this like we know something. let's focus on the charts. >> here's the -- here's the issue. yes, it's climbing back. is that the primary data point or is it the fact that it could drop 42%

it didn't drop that one day, it was the 26th of july, a thursday, dropping more than any other stock in terms of market cap, 120 billion i think those highs will stand if not for a long time, forever. >> since that day it was the big under performer until possibly the last couple of weeks and if i look at where the street is on this, this is what is the most concerning thing i've been bearish for a long time you're expecting a bearish comment, you're going to get one. we've taken the mean average price from 205 to 195. they've cut it by 5% is that a big deal considering all the company has been through? i think the street is still off sides. do you want to stand in the way of what are eventual downgrades? not me >> i may join that and look at your vacation pictures. >> i have great pictures on the facebook i'm an open book. >> yeah, that's what it was at one point. why should we not worry that privacy is going to be free forever? how do we know europe doesn't

come here for privacy? why is that not a concern? >> gdpr -- the europeans, rightly or wrongly, this is a very debatable thing, they're over regulated over there. gdpr certainly has been a standard that will be adopted here u.s. regulators are talking with these folks and they're going to model something. the bottom line is i think the market has decided i think the market decided on facebook's management team a year ago, even before the stock has been cheap relative to its peer group 30%. >> i don't disagree with anything that would have been said this pop that we've seen is based on the corporate repurchase it's a new conversation to be had. people are trying to dig their teeth into something and they're using this as an excuse to try to pick a bottom in facebook >> all right i don't know >> i mean, how about -- >> i guess i should get off of myspace and on facebook. >> you have instagram? >> i have twitter and i don't

like it. i use it for a news feed the people that are on it are like, where are these people in the basement somewhere? some of them are nice. some of them are so unbelievable -- >> ruthless out there. >> anonymous. >> what do you think they're saying about guy on twitter? >> i engage. >> you don't block people? >> never block no mutes no blocks. >> are you kidding me? >> not. >> you're a likeable guy. >> no. >> coming up, kelly evans quit and she is so happy. coming up, it's been a volatile few months what should 401k investors do? our next guest has a few points. grab a pen and piece of paper. you'll want to write it down bank stocks sinking. they're betting selling can continue find outwhat has them so worried when "fast money" returns. i'm going to tweet something really quick we'll be right back. tail about ? tail about ? firmness... nine.

it's how ibm services helps retailers around the world drive growth and save millions. he's very into this. yeah. is that the standard amount? yes. feels good. when your partners are obsessed with business and technology, you can put smart to work. yes or no?gin. do you want the same tools and seamless experience across web and tablet? do you want $4.95 commissions for stocks, $0.50 options contracts? $1.50 futures contracts? what about a dedicated service team of trading specialists? did you say yes? good, then it's time for power e*trade. the platform, price and service that gives you the edge you need. looks like we have a couple seconds left. let's do some card twirling twirling cards e*trade. the original place to invest online.

i think we're going to see a lot more of what we just saw, which is a lot more volatility you know, it's really easy to say i'm really bullish, i'm really bearish i kind of see a two-sided market i think in the next year we'll be from where we are today ten

down and ten up. that was legendary investor paul tudor jones >> looking for it. for the retirement our next guest says more than a quarter of savers are making one crucial mistake. let's bring in jeanne. she's senior vice president. joins us now from boston welcome back i know what the one mistake is but we've been talking about so much nobody does know so you need to tell us now. >> sure. happy to, joe. thank you. so the biggest mistake that people are making is that many are over weight in equities. as you said, 25% are holding more equities. some are even holding 100% and in a market like this, you want to make sure that you're well diversified. >> the -- normally i'd say that

you don't know how weighted you should be in equities unless you know the person's age. >> that's right. >> if you're in your 20s or 30s, i don't know whether that's true that you can be over exposed, can you? over time equities are the place to be, right >> they are, and you really need equity for that long-term growth in the market. for someone who's aged 25 or just starting out in their career, you know, we really suggest about 90% he can wet at this that's based on your typical target day fund, but as you get older, into your 30s, 40s, when you hit 45 you rachet it down a little bit at that point at 45 we recommend about 85% equity as you get into your -- go ahead. >> no, i was going to say i think 45 is like the new 35 or probably really closer to 30 do we take that, guy >> i was going to say 25 >> 25. >> guy, 25. >> your 50 is the new -- >> i hope so i can only hope. >> do we grade it on a curve, jeanne

are we going chronological age here that's troubling to me >> well, you can grade it. >> okay. >> yeah, yeah, yeah. as you get -- you know, through your 30s, you know, early 40s, still around that 90% equity as you get do 45 you can do it down because 45 is really 45 when it comes to investing. >> she's humoring us. >> she is. >> she realized, oh, boy, these guys are very insecure you're right >> yeah. >> if it's not stocks, i don't know, bonds. 39% bonds? what kind of bonds i don't want bonds corp rates get some high yields or something. i don't want a ten year 260 government or 285, whatever it is. >> within most 401ks it's mostly mutual funds most offer the intermediate bond fund that's the most popular within the 401k plan for sure. >> so with what we've seen recently, what's your advice in markets like this for your 401k?

>> so within the 401k it's much better to put time in the market than trying to time the market most people are chasing the market, will never catch up. investing for retirement is a long-term strategic proposition and so you really want to get a good llocation, have a plan, stick with it and not have a knee-jerk reaction with the market volatility. we found in '08-'09. >> go ahead. >> we thought in '08-'09 many people who got out of equities completely, they didn't see the long-term growth and they never made up for that lost time. >> jeanne, we thank you for the advice today and fidelity is a place i might certainly take that advice. guy, what's your take? >> jeanne, she's been on before. she does a great job if we make it to january, i say if because i don't take anything for granted. this show will be 12 years old we try to tell people what's

going to happen today, tomorrow with varying degrees of success. that's what the show was based on in terms of the 401k, you shouldn't be looking at the gyrations of the market. stay the course. that's exactly right have intelligent conversations but don't be -- >> and sometimes you have to -- >> -- crazy. >> you don't want to pull your money out and dive into bonds. you don't know if you're on time or missing time. but if you feel like you're getting bargains, can you increase that donation into equities instead of pulling it out and trying to time the market you're never going to do that. i would add to equities on dips for the longer term depending on your age. >> the one thing i would say where we are right now which has been very challenging for people for six months now let's face it, fixed income was not doing well we're in a period where we had the secular bull market in bonds. five decades where rates have been compressed. we have this argument where central rates have an upward

momentum bond vigilantes -- it's an argument why fixed income is a more difficult selection in a traditional sense. frankly, it's worked. >> thank you shatner, 88. 88 years old just a thought if you think -- >> should he have bonds in there? what do you think? >> shatner should be mostly priceline, i think coming up, been a rough year for the big banks and one trader just bet more than $1 million that the pains are going to continue we'll bring you those details. >> good luck, guys. >> what's jim cramer's take on the big market turn around stick around we're live at the nasdaq market site in mes tisquare much more "fast money" is still ahead. some more. not much more. & the staff needs to know, they will & they'll drop everything can you take a look at her vitals? & share the data with other specialists yeah, i'm looking at them now. & they'll drop everything hey. & take care of this baby yeah, that procedure seems right.

& that one too. at&t provides edge to edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when your patient's tests come back... at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today.

you'll only pay $4.95. xfinity mobile is a designed to save you money. even when you've got serious binging to do. wherever your phone takes you, your wireless bill is about to cost a whole lot less. use less data with a network that automatically connects you to the most wifi hotspots in millions of places and the best 4g lte everywhere else. saving you hundreds of dollars a year. and ask how you get xfinity mobile

included with your internet. plus, get $200 back when you when you buy a new smartphone. xfinity mobile. it's simple. easy. awesome. click, call or visit a store today. welcome back to "fast money. financial stocks left out of today's big reversal the xlf closing down 1 1/2% at the lowest level since 2017. in the options market one trader made a million dollar bet that the pain will continue mike khouw joins us now to break down the "options action." t bone t bone >> how are you, joe? we did see it in the financials. what i was looking at was the kre. it traded well over two times the daily put volume in a large trade that we saw. it was a buy of the january

50/47 put spread someone paid over $1 so they're making a bearish bet it could drop 5 to 7% in just over five weeks from where it closed at the end of the day today. i point out that a lot of the constituent stocks in the regional banks also saw a significant options activity we saw a lot in regents financial, zion and bbt, all of them well above average. >> that was from last time, mike remember, nobody wants to be coco they named george, he wanted to be t bone. they called him coco, he didn't want to be coco. i'm giving you t bone. you don't want it? >> i'm good with whatever nickname you want to have. you're not on that often so we might as well try to keep it fun. i'm good. >> all right thank you, mike. for more "options action" check out the full show friday at 5:30 p.m. >> t be. t bone. up next, final trades. what do you look for when you trade?

i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ broke my personal record. aflac!? no-good break. gooood break. i'm so sorry we can't make your barbecue. i'm just sick about it. aflac!? different kind of sick. if i can't work after surgery, how am i gonna pay my rent? all these bills? aflac! oh, aflac! and they pay you cash in just one day. see how aflac helps cover everyday expenses at aflac.com.

all right. time for the tifinal trade? tim? >> it was great having you, joe. >> thank you. >> you don't make a movement on fedex on a turn around on transports this company on valuation is the one. >> carter. >> ishares shy short term bond etf long. >> grasso? >> closest thing to safety trade, xlu utilities

stick with it until all is clear in the market. >> joe, 12 hours from now you'll be back on. >> amazing, stamina. >> tremendous job. >> me and santoli. thank you. >> twitter. >> santoli and i. >> santoli and me. 's'll be there it been a real slice. slice. i appreciate it. thanks, everyone catch "fast money" again 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" starts now >> hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job is not just to entertain, but to educate you so call me at 1-800-743-cnbc i want you to understand this whippy market? read some william butler yates, because this action is right