year-to-date -- >> i wonder if it's a catch-up thing. >> of course it's interesting that the focus has been on the struggles. >> it does affect the policy. >> that's for watching "fast money" begins right now. >> live from the nasdaq marketsite, this is "fast money. i'm brian sullivan in again. welcome back misweft talked about a few weeks ago, if not called the deal that's shaking up the financial industry

plus feeling the burn. we'll look at the one sector that may be just a bit out of the sync, and later on we have a fast pitch for you one of our traders is still bullish. that's your fast pitch there's your mystery chart place your guesses the name and the interview ahead. all of that coming up when we begin with a wild ride on wall street today stocks plunges a matter of minutes, the dow falling almost 400 points the dow down 128 points. you know, guy adami, traders have attributed this to articles about the coronavirus either way, does this kind of show you

how shaky or nervous the market might actually be? >> the vulnerability of the market itself. i think the answer is yes -- it's okay to be vulnerable i love that mr. toad's wil >> it doesn't show -- >> yes, it does, brian we look with value to 148 billion, 85% if it was a publicly traded company, we would talk about it every day. it can also happen to individual stocks we saw how fast the market went lower today, but things that have sort of been a hashirbinge for this continue to work. look at newmont mining

we break through that -- and then you might have this diminishing marginal returns in terms of what lower yields mean. they're grabbing high growth and grabbing utilities, very defensive maybe some bombed-out value. the other dynamic is if you look at the bond market, treasury curve, threne-month tenure, so you think about where you want to measure, you've got it right there. we're back at a level where people should be paying attention. i'm going to talk about the dollar later in the show, but they're not very good

equity-positive signs. yet some of the high-growth names and some of the biggest companies in the world continue to go higher >> even at the lows, you had more stock up than down, and then you look at what stocks were working, the real do metzic consumer-oriented names, the transportation stocks -- >> nobody was saying was a disaster what we're trying to point out is that the market fell a couple hundred points in a matter of minutes ostensibly on an article from china daily about the number of coronaviruses in beijing. >> i think it speaking to how concentrated cap is. you get one headline, it can hit them, but when you look at the breadth of the market, breadth is actually really good. 80% of stocks are above their 200-day average. that's not where big problems emerge from. ives looking at tesla, virgin galact

galactic, just ridiculous. if you look at what happened during the same half hour, virgin galactic is down, what, $11, i think tesla down a quick 50 bucks. to me those are just hovering, levitating with nothing underneath you get a bad taste and some of those names i think would spook retailers. >> con edison specifically, a utility for you folks who don't live in the tristate area, i'll say this, at all-time thyme or therebusiness, 21 times next year's earnings. that's not a particularly healthy sign i hear what chris is saying, but i think the vulnerability is there, but again people feel empowered on a day like today, dow closes down 120, but again the buy the dip crowd correctly -- >> i will see your coned and

raise you a nexstar energy when i went to journalism school -- >> they did a good job, obviously. >> a three-hour class. that was with a lunch. if people are buying utilities and gold, it means they're nervous. yet the market keeps going up, ethough people are buying utilities in gold. >> first of all, you have to understand who is doing investing, and who is investing in what. there are investors going after different asset class. you have yield-based investors being pushed into certain places that they aren't comfortable whatever you want to say, that's part of empire explain action. people investing in utilities and reits, ostensibly are people that are bond investors squeezed into the equity market that's what the fed wanted to

do congratulations, you have done it joining us i marco kolanovich he has a heck of a report out. welcome back. >> thank you. >> there's so much in here that i think is important to our viewers and audience let's talk about what we talked about. you know the ratio of the s&p 500 technology sector to energy is the same as it was, or higher, than the peak of the tech bubble in the late '90s is that alone a warning sign >> not alone that's just one of the signs we focused a bit more on utilities and bond proxies those are stocks that have very low volatility, they act as a bond typically, with a decent yield or comparable yield to bonds. they were bid up massively

along them also momentum stocks. they tend to have some bias towards a sector so i they are 12re67d. >> dangerously stretched is it vulnerable to a typical. >> probably not, but some of these market segments, likely yes. could we have a pullback in some of these defensives? if we have positive news from china, i think they will pull sharply or conversely you'll see some of these tech and growth stocks pull back like you saw 11:00, 11:30 >> they're really beaten down to

such a low level, very hard for me to see them being taken down even a lot more. now sort of, you know, we talked about that -- >> like what i can't find any that's down. >> energy is down, materials are down, metals and mining, non-pressure metals, and certainly others are down relative to the rest of the market they're lagging significantly. so the bottom line, what should happen, it could be a rotation, out of these defenses into more cyclicals, and probably some of the growth momentum stocks actually catch up on a down side. >> are you saying that that convergence would happen in an up market or down market >> we think it would happen in both

our core view we sort of recover with the situation that's happening in china in that case, our best kay is cyclicals, catch up now, if there's a -- there's obviously a risk that it could spread out and last longer, then you would see a catch and down. >> have we ever seen a period with stuff lie utilities and reits, does that mean they won't be leadership? we tip dale count on these stocks to provide defense in these markets hard to see them being a hedge or in a down market there are times with yields, and, a bit up to a level, you know, that we would

call basically on a bubble >> relative to these talks, so it is a bobble >> what's the hedge in the next down turn? >> it's hard to say. >> or to buy -- a bit sort of -- can move a bit towards value we think it could hedge potentially whereby you can limit, and they come down crashing, or conversely, if we do have a catch-up to participate more, and if you sell off, you'll compensate by

values so the most straight forward, as a -- if you have, we do also like to move away from these things if they're super-expensive so you may mitigate some of the pain if the bubble is to burst. >> you talk about granular -- or peep are expressing, and we've gone out and talked about "stair way to heaven quest is the most overrated/underrated song. i bring that up to say the market is not really listens to some macroissues out there a year ago we were talking about, many were, a recession in a recovery that was still very immature

that doesn't look to be as back, a and. >> like if you look at the tech names, pretty much similar with utilities, but if you like ag n again. >> if there was a quick recovery, or if there's non, we'll see the he rollover. >> at some point i think the song remains the same. >> i knew you were going to do something there. >> thank you very much i appreciate it. >> thank you. by the way, you know, i don't know -- the stuff that

he's writing in here is worth of read even if you're not out there saying imminent collapse, the market is unshaky, stocks like tesla going up for no reason, i think it's appropriate to take a bit of caution i agree, you have to listen. it's easy to stay within your dogma, read and listen to things that reinforce your belief system, but despite the fact that the market goes up regardless i clearly have a bustle in my hedge loom given these moves i will tell you there is a play of diminishing marginal returns, and we're precariously close to it, i believe. >> we have a market flash on first solar. tanks after hours. >> hi, brian first alert after resuming a halt, plummeting more than 15% the company issued eps guidance

of 1.48, far below analyst expectations the revenue guidance. >> the last questioner, game in at 1.4 million preliminary stages you can see -- after resuming trade. , by the way, tan is the thicker -- you talk about -- the first solar news is going to take down the desire complex

unchanged, basically bilow 50 is a problem here >> anybody a buyer first solar >> i wonder if that matters? i don't know maybe it does. >> we never talk about solar city so weird >> well, listen, we have to watch tomorrow, the big plays, a lot of people buying this, but again, you take the debate last night. you talk about infrastructure investing, a lot of cheap chinese imports coming in. coming up, morgan stanley making a big play in the retail brokerage game does that multibillion bet give it an edge with investors? we're going to dig in. shares of dropbox soaring after their latest report. we'll break down the numbers

by the way, you can always text us live on the go on the cnbc app. much more "fast money" after this especially by something like your cloud. it's a problem. but the ibm cloud is different. it's the most open and secure public cloud for business. it can manage all your apps and data from anywhere. so it can help take on anything, from rebooking flights, on the fly to restocking shelves on demand. without getting in your way. ♪ ♪ we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers. go to shipstation.com/tv and get 2 months free.

shipstation. tthat's why xfinity mobile oflets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots

and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year on your wireless bill. and save even more when you say "bring my own phone" into your voice remote. that's simple, easy, awesome. click, call or visit a store today. welcome back

certainly the big deal of the day highlighted. change -- with a 13 billion buyout >> ing as its new ceo. morgan stanley finishes. it's not surprising that etrade, once we saw. rates go to zero, and then we saw schwab, so that's not surprising.

i think the evolution of the business -- >> and i'm sort of surprised use know, maybe that customer isn't quite right. to just get funding? morgan stanley went on to make the cornerstone of the business. i think they have clearly moved to the front of the class. i think the deal is helpful. >> and it looked like theys mike

edged out. so you look at the average, this is probably in line. in terms of technicians out there, he will point out a major double top here. i don't know 46 1/2 or so? >> good discussion there we have a big story coming your way here >> the u.s. clear is on a tear tim seymour breaking down the stock winners and loser when the stock winners and loser when the dollar is kingructors in the world,

and tie it all together with a world-class software experience. we ended up creating, as you all know, so much more. peloton is truly a category of one and we're just getting started. now, let's do this. together, we are going further than we ever thought possible. ♪you got to ac-cent-tchu-ate the positive♪ ♪ e-lim-i-nate the negative "slow it down a little" ♪ and latch on to the affirmative ♪ "it's okay" ♪ but don't mess with mister inbetween ♪

with a nation-leading $150 billion commitment to infrastructure, we're creating state of the art, 21st century transportation hubs, constructing n bridges, bringing high-speed internet to every corner of the state, and committing to low-cost clean energy. with infrastructure built for the future, the companies of tomorrow can thrive here today. see your future at esd.ny.gov.

welcome back, we've got a news alert julia boorstin has -- shares of sprint moving higher t mobile shares moving slightly lower. you can see them 4.75% t-mobile, this of news that t mobile and sprint have announced amendments to their merger agreement. in this amendment, they will get

43%. back over to you you can see sprint stock up there 5% good move, is this it? >> it's a big move five-year drama, and i think the charts certainly reflect that. but what's interesting is what happened on the other side which are breaking down here a bit. so there's a message there not all the defensive, not all yield stores are working >> they've got five sh ahead of at&t and verizon dish network was --

>> he's watching -- and the reason why t mobile trades at 19 times forward earnings >> i think at&t is worth more than that. >> if you can and get by with both hands >> let's switch gears here king dollar has certainly been reigning supreme not occurrence sits. what does the dollar strength mean for your money? it is time classes in session >> i think when you talk about the dollar, this is a classic case of understanding dynamics basically dallas right back to the levels and what is extraordinary.

we complained about -- despise the fact that this is -- sorry, it's almost 4% s. >> here we are right now at a time when central banks have dominated the ecb -- the ecb has been kind of quiet here. this has me a bit concerned why rear rallying on a safe haven flight to quality.often when we

dollar. that product is now more expensive. this has always been a time to sell emerging marge. more than two thirds, this means the dollar is rallies at a greater extent i guess i mean these two. obviously if you think about a t.j. max, this is a k350e that is down well

>> so when they -- they're actually making more money than the local occurrencely, it serve we know where these get their revenue base

karen? any of those stocks stick out to you. >> i'm long delta. i know how much they hedge p & g, which gets most of the revenue, outside the u.s., this has to be a headwind for them. >> if you think about it they are the same as unilever, so, know, you will hear them complains about king dollar. >> i'm with you there. what i can't req size is strong clear, and it's clearly out of stem also a very high revenue

we are gearing up for earnings from john deere what some think we'll hear and pete will join us from the home of the minnesota twins is a faspit tch on a red-hot semi stock batter up when "fast money" returns. but totally cool here. woah! and here. woaaaahh! -oh yeah. woah, kid. she gets it. [ roars ] woah!! get it all out. so when you're ready to let yourself woah, there's only one place to go. universal, baby!

try to win by attacking, now, we know the trump strategy- distorting, dividing. mr. president: it. won't. work. newspapers report bloomberg is the democrat trump fears most. as president, universal healthcare that lets people keep their coverage if they like it. a record on job creation. a doable plan to combat climate change. i led a complex, diverse city through 9-11 and i have common sense plans to move america away from chaos to progress! i'm mike bloomberg and i approve this message.

welcome back to "fast money. he's stepping up to pitch a name that he things could be a home run. i've completely run out of the baseball metaphors pete najarian is here. take it away, pete thanks, brian. my witch pitch is micron technoy when i look at this, i break it down to different fundamental stories. it starts with actually the management, and the management, what i love so much right now is this is a management that's only been there a couple years, but

at -- he was one of the founders they made at least seven acquisition oy think what what we're seeing now is a management that's going to start doing some of that, in a bigger way when i look at the fundamental, it changes at a ten-name -- a lot of people will say, well, it's always traded cheap, but i think the management has done a magnificent job with the balance sheet. and what i say is $8 billion in debt has flipped over to nearly $3 million in terms of a positive a big huge move there. then where does the growth come

from they've got dram and nand, and everybody knows what that's about, and obviously that's a big game they have to wade through the very difficult times as well as some of the great times, but i think what's important here is this ceo made that first acquisition, and that puts them in the position into a.i that's what i think is so important. micron is no longer going to be this company that looks to just memory and just storage. they're getting into a.i. in a big way with the acquisition these made late last year. a.i., 5g, a lot of names we talk about all the time, i think this name actually has plenty of room to of up side not long from ow >> that's very interesting why do you think people don't pay enough attention to this major core part?

all we hear about is nan and dram >> not only was it services, now it's wearables, so i think that's the story people aren't seeing the future. the future is where the growth will come from that's a.i. and 5g >> m.u. as the fast pitcher there. it's judgment time i mean, this is getting serious. tim seymour, you kick off the voting. >> i think the stock is priced in i think it's as name that people have priced down. >> i'm a buyer the trend is up. >> every big up moveg volume we want to own it. >> i'm going to pass it's not my kind of thing. >> i don't have that expertise,

so i'm going to pass. >> i'm with pete if it breaks above 60, i'm thinking march of 2018, they report on the 25th of march. i think i own it into earnings so half and half >> i like half and half in my coffee some people don't. for me -- >> 2-2 hey, pete, thanks for trudging through the snow to come on the program. >> great to be with you,rian thanks. now it's your turn, folks. are you buying pete's pitch on micron giddyap. vote on our twitter poll we'll reveal the results later in the show. health care stocks are lookinli ag vend well. how should you position yourself ahead of the election? we're going to break it down, next

their medicare options...ere people go to learn about before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs. to learn that one. a medicare supplement plan helps youpay for somests. of what medicare doesn't. that could help cut down on those out-of-your-pocket medical costs. insurance company today... to request this free, and very helpful, decision guide. and learn about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service.

this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. there are no networks or referrals to worry about. do you accept medicare patients? i sure do! see? you're able to stick with him. like to travel? this kind of plan goes with you anywhere you travel in the country. so go ahead, spend winter somewhere warm. if you're turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. thumbs up to that! remember, the time to prepare is before you go on medicare! don't wait. get started today. call unitedhealthcare and ask for your free decision guide. learn more about aarp medicare supplement plan options and rates to fit your needs oh, and happy birthday... or retirement... in advance.

it certainly was fight night in vegas that moment when they came out on stage was about the only time everyone seemed happy. they squared off for the latest debate, blistering attacks michael bloomberg seemed to

cement boyce bernie sanders' lead there's one part of the market that you would think would be feeling the bern, but it's not chris has more on health care. chris? >> i think what's been remarkable since the iowa caucus about three weeks ago now, the health care stocks that are perceived to be most at risk, given some of the policies out there, are actually among some of the best performers the hmos up 11%, the biotech stock up about nine. these are the five best groups since iowa i think it's a compelling case that the market is discounting these groups are not at the risk that people believe they may be.

remember, unh is a name that was up almost 120% from 2016 to early 2018 s we then had two bear markets anything above 300, 302 is a major breakout another place where we saw an incredible bull market, and then biotech down close to 30%. this is the biotech etf, 100, 101 is a big level i think we'll break out. one of the largest weights.

>> good stuff there. do you like unh? >> i'm long unh. it's the same time the s&p 500 has done 15, 17% they reiterated their 2020 guide. their margins continue to accrete. i stay long. the ceo came in and bought $2

million personally i am still long and have been long for years. >> bernie sanders can ramble on all he wants about biotechs, health care, but eli lilly continues to go higher >> lil lilly is one of the great charts it's a 20-year base. >> just threw that in. >> tim's comments i think has left is dayed a dazeed and conf. and later we're digging in on deere their numbercos me out tomorrow.

always live from the nasdaq marketsite, we're always home, no quarter we're back after this. was a bad motivational speaker? i look around this room and i see nothing but untapped potential. you have potential. you have-oh boy. geico. fifteen minutes could save you fifteen percent or more on car insurance. ( ♪ ) ♪you got to ac-cent-tchu-ate the positive♪ ♪ e-lim-i-nate the negative "slow it down a little" ♪ and latch on to the affirmative ♪ "it's okay" ♪ but don't mess with mister inbetween ♪

everyone has something to say. but in a world full of talking, shouldn't somebody be listening? so. let's talk. we are edward jones. with one financial advisor per office, we're built for hearing what's important to you. one to one. edward jones. it's time for investing to feel individual. wheneveryone is different.a, which is why xfinity mobile created a different kind of wireless network. one that saves you money by letting you design your own data - giving you more choice and control compared to other top wireless carriers. now you can choose unlimited, shared data,

or mix lines of each and switch any line, anytime. no one else lets you do that. design your own data with xfinity mobile. it's wireless reimagined. simple. easy. awesome.

earnings alert with dropbox. the company's call about to get under way, the stock is up nearly 13% deirdre bosa is out in san francisco. why is dropbox doing so well >> we should know they're finally back above that ipo price of $21 it comes down to what the ceo just said. the company is looking toward a key milestone. have a listen. >> by the end of this year our goal is become a profitable business this also extends beyond 2020. longer term we plan to extend marginal, as we extend into new markets. >> we should note that's gap profitability not ebitda that's a less meaningful metrics for other -- it also came in a

bit better than expected however, some big questions do remain he admitted there's still work to do. but as you can see, this is a significant sequentially decline from the 400,000, 500,000 net adds in previous quarters. as dropbox is priced to move up, attract more paying corporate customers, it's running into stiff competition. and on the consume es guys as well >> good stuff there. we learned the ceo is a street, not the city it was a hideous chart it was a $42 stock a year and a half ago. >> this move from 16 to 21 1/2 or so, good for you, and to quote the steve miller band, i would absolutely take the money

and run. a horrible song, but that's what you do prayeding margins are better >> i agree, don't overstay your welcome here it takes more than one good quarter. there's maybe a glimmer of hope on the chart, but i think you have to be really tight with the stock. if you've made money here -- if you own it going into tomorrow, should you sell it into the strength >> sell into the strength. in a world of good charts, there's a lot of good charts >> in other earnings news, check out shares of domino's pizza, having the best day ever after they delivered a strong earnings beat jim cramer sitting down with the

ceo on "mad money. here's the cramer-cam. i know jim loves what domino's has been doing, especially with mobile anybody own it or would like to own it or used to? >> yeah, used to own it, probably sold it, i don't know, a couple hundred points too early? this is impressive so many times domino's has impressive, for years. you know, the bear case of so much competition hasn't worked at all, but it's tough for me to buy something that was up 25%. it was a nice quarter, but that's a lot i believe, and guy, correct me if i'm wrong what can i do? i can't be perfect all the time. this was a $12 stock ten years ago. this was i believe the best-performing stock out of a

decade >> and steve grasso would counter can't will i say this is a technology company it's had headwinters, and chris can speak to this. you talk about breaking out above a previous high, with huge resistance going back to the summer last year, that's what happened today that's the play, but i think karen's point, you see it back and forth here. >> you want to own this thing. >> after making all this money >> no one has made money for two years. >> own the stock, so says chris. rounding out our earnings coverage for the day, john deere reports tomorrow morning tony zang over at the plaza. >> thanks, brian this stock trades fairly actively we saw about 32,000 contracts cross the tape

this stock reports earnings tomorrow morning the current options are reporting. we've seen almost a 6% move. earlier today, we saw a fair amount of bearish flow we saw 400 contracts with the june 150 puts purchased for about $4 that trader also sold 400 contracts of the june 195 calls. net debit -- if you look at this at expiration, the break-even is at $147.20 that's a bearish bet, but that's not entirely fair. a short risk reversal is similar to a short stock position. if we look at this trade, this trader is net short about 14,000 shares if we look at a 4% spread, if it moves 4% lower, this is looking

about $100,000 profit. so a clean way to take a bearish trade going into earnings. >> we're going to watch those numbers tomorrow, see if it pays off or gets crushed. for more options action, tune into the full sh torowomrow night at 5:30. up next, your final trade. ♪ ♪ ♪ ♪ ♪

the unparalleled landscape of park city,

or the famed peaks of whistler, you've faced the hassle of lugging your gear through the airport. with ship skis, you're just a few clicks away from having your skis, snowboard and luggage shipped from your doorstep to your destination. with unrivaled pricing, real time tracking ship skis delivers, hassle free. ship ahead and go catch those first tracks on fresh snow. ship skis. your skis. delivered. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

time for the final trade micron, unfortunately -- a swing and a miss there's a 3% margin of error pete, thanks for coming on. time for the final trade >> i'm going to give my love to unh. this company is delivering about to brea out here >> you want to be u.s.-centric

xhp. >> i'm not going to insult the agreed led zeppelin to insert a title superfluously, like you did, tim >> you are nowatching. "mad" with jim cramer starts 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 safe you some money. my job is not just to entertain you, but to educate you, teach you, put it in context call me, 1-800-743-cnbc. tweet me @jimcramer. at