we have that trade next. >>> plus, doug kass is back.d out whether he's changed his bearish tune when "fast money" comes back. at merrill lynch, we understand the importance of your goals. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. >>> the bulls are out in full force today, but doug kass called it back in mid-august here on "fast money." >> i suspect that the market could move back to the, i would say the 1300, 1330 area. i think we're in the process of making the high for the year now. >> all right. the s&p 500 up nearly 2% since that call. so is he staying bearish? back for more on the fast shrine doug kass, president of sea breeze partners. sticking to your guns? >> sure am, mel. good evening. i remain cautiously pessimistic. i'm not short, but i'm not over any ski short. i'm bruised but bowed to

writing that even doug kass is on the long side, but what's the "fast money" take? dr.n io most popular for its enterprise flash drive stock up 45% in the last few months. what's your stake? >> i still like it. hats off to dougie. in was a great call by him two days ago and the stock has moved up very strong. it gave it all back yesterday, though, simma. if it holds on to it today i'm more bullish on it, north of 31, than i was even yesterday. >> bullish on fusion-io. let's get to the next one. calvin tweeting i bought netflix at 114 bucks in march. it's down 50% ever since. not sure if he should add more to his position or cut the loss. the online streaming space continues to heat one amazon prime, hulu, hbo go. can netflix prevail? >> i don't think they can. i'm not saying they're going out of business. but the stock is going lower. and that's the big lesson there. just because a stock is lower priced in their shares doesn't mean that it's gotten cheaper. i could actually tell you that netflix is more expensive in the 50s than it was at 104. so i would sell the rest o

. >> yeah, i think, i think it was, i guess it was doug kass who printed in baron's a few weeks ago, equities and their lack of correlation to anything. i think we would agree. i'm in the credit markets. i'm a high yield guy. been a high yield bite for 28 years. the notion of equities telling us anything now i'm not sure it holds. it is a algorithm and program and i'm not sure anything more than that. tracy: the old-timers like myself schooled on fundamental analysis have thrown it out the window. i understand nothing. maybe the bond world is a little more predictable dare i say? although you say stay away from corporate bonds. >> what we're referencing, by the way i notice you do have an accounting degree. tracy: fellow dork. >> fellow nerd. but anyway, i think that the, issue is that when i talk about corporates i'm talking about high grade corporates. what i don't understand, have never understood as a high yield investor why you would lay money out today at 30, 50 basis points more than treasurys with no covenants, credit risk, liquidity risk, why? it is massive market. huge comm