look at bonds, currencies -- >> dr. j-- >> you don't know if this is going to freak people out for a prolonged period of time. >> dr. j. >> i could agree with both of you at certain points in your arguments, but to the vix point we got right down to the 200 day moving average. we could not break through the 200 day moving average for the vix. that was the spot but it is calculated off of july. no longer these front months. >> it comes down to positioning. people are hedged up and they feel okay. to me it makes perfect sense. >> got to move on. from the taper to the airlines. the low cost carrier ryan air finalizing a deal to buy $16 billion worth. the largest single order placed with a european airlines group. >> usually when stocks rise and this stock has risen a lot this year, what is see is the price of options, the implied volatility tends to drop. in the case of boeing it's going the other way. options are more expensive. even though the most active today were the weekly 105 calls, what might be going on here is peop

why is dr. j. sticking buy it.port will be going a full hour of coverage on this market selloff. be sure to tune in to that. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ to accept less and less in the name of style and sophistication. but to us, less isn't more. more is more. abundant space, available leading-edge technology, impeccable design, and more than you've come to expect from a luxury vehicle. the lexus es350 and epa-estimated 40 mpg es hybrid. this is the pursuit of perfection. >> photo sharing app insta gram. the stock is down more than ten percent in 2013. is facebook chief enough to trend. john, for the bulls and karen for the bears. >> facebook announced their big thing that people had been working on. they unveiled it today and it was a vine-like product

dr. j. julius erving. >> jimmy: of course. it has to be dr. j. >> absolutely, yeah. dr. j. no, it was, you know, growing up in philly and doc and specifically, 1983, that's when we won the championship. we won it all, you know. and just doc was my guy, man. i really, like, modeled how i wanted to be after julius erving. >> jimmy: did you have an afro? >> oh, come on, man. i had the afro, you know. the high socks. >> jimmy: yeah, the high socks. >> you know. well, he had the short shorts where you could just about see the crease, you know. [ laughter ] them old-school shorts. >> jimmy: you're one of the owners of the team now. >> yeah, that was interesting. yeah, yeah. >> jimmy: that's got to be the greatest thing ever, right? >> it was fantastic. we got in with the ownership group and a bunch of guys came in and they asked me if i wanted to be a part, so -- two years ago, we purchased the philadelphia 76ers. dude, let me tell you -- your hometown team, and i remember the first day, you know,

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as you know michael jordan said he modeled his game after dr. j.ary. it's simply called "the doctor." >> from umass to the park. it had long been a tall tale more than anything else and now in philadelphia he's about to prove that the hype is real. >>> where'd this guy come from? my god. there was nobody like him. julius was like that bird coming in, swooping in. dunking on people. >> we're pleased to have julius erving in. welcome. >> thank you. good to be here. what did you have that enaving you to fly? >> some of that was deception. i always thought with the big hand, to have the ability to move the ball around and once you get elevated, if you moved it to the left, moved it to the right. it seemed like you had it. >> gailt said when is the guy coming down? i never saw anything like that. >> what goes up must come down. >> i never knew you were such a fantastic basketball player. until i saw it, thought, wow. the funny thing when billy crystal said, finally a great jewish basketball player. >> he's a fellow long islander. >> urn tintil i saw the

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tess la has to deal with that. >> dr. j, thanks for joining us. let's move on to lululemon that can't catch a break falling another five percent today after a double digit plunge yesterday after the ceo is walking out the door. here's what we heard when the news first came out earlier this week. >> yes, it is the chance you've been waiting for. the guidance comes in better than expected and still shows that you do have a cult following of this brand. >> here we are down another five percent. karen, what's your take? >> as we talked about this, there's something off in this story. it makes me uncomfortable. if the stock had come to a level where maybe it was really overdone to the downside, then i might say, okay, they're not missing on earnings so they would have said right then maybe you buy. just because it's been down for two days, to me it doesn't make it anywhere near -- i still think it's extensive and we don't know yet the full story. something is off though. >> this stock is trading at 35 to 40 times before this news. goldman sachs is sayi

last week dr. jwas trading along. >> they stayed in the game on the short side so i set myself up with the short spread on the put side being short the 38 and a half puts. >> john joins us on the fast line with an update. what are you doing now? >> they were active but they were doing both stock and optioned today. they traded all the way out to september and the eem is down. in fact it hit the lowest level of the year today. the people who have been right continue to be right about the short trade. seems to me that somehow around 3890 or so is probably where this trade starts getting unwound. we'll see if they start taking profits. thus far they have added to profits instead of taking profits. i went to them and stayed with shorts. >> doc we're going to leave it there. the connection is shaky. thanks for calling in. meantime moving on economic growth slowing in china. while most investors in stocks are losing money, our next guest china fund is up 7% to date. pour foet yoe manager of the china capit

dr. j. our traders are quick but not always right. areview ba networks. >> i would hold them here. i think it pulls back a little but if you have got intestinal for the tud and calls into it it carries over to the next quarter. >> shares of arub ba are down 30% since that call. doc? >> i need tums. that intestinal for the tud, that's not what you needed. you needed lubrication. >> oh, my god. >> put on the horse's legs when they're running. that's what i meant. get your minds out of the gutters. >> what's the trade? >> the trade now is at 14. i got to love it if i liked it at 22. everybody is cutting numbers on these guys including jpmorgan. i'm not encouraged to get back in. >> a little off the rails. let's move on. you tweet it we trade it. let's get to it. this one is for guy. anybody buying adm? >> it's trading 33.5. i think there's room in this. you can see it back to the 11 highs which was 38 bucks or so. don't be surprised to see this continue. >> karen, big drug stores like cvs and walgreens closing in on 52 week highs. is it

dr. j is the bull, simon baker is the bear. dr. e your case. >> they just gave us some great guidance and the think the sony playstation 4 as well as the xbox 1 platforms, first time we have a bunch of new platforms coming on the market at the same time. a bunch of games, of course, have been written for those consols already. grand theft auto 5 as well as bioshock and some of these games you play like sim city, i think these are going to be big. >> hey now. >> and i think additionally the fact that sony, which could have -- the microsoft move if they kept people from renting games, scott, by you can only use it once, that's the way microsoft was allegedly going to go. instead sony has gone out and said on our platform you can take any game and play it on here. that put pressure on microsoft. that's good for game stop. >> here is the problem with all ha. that's all great, good, and well. digital. think of blockbuster, think of pc sales. one of the big announcements coming out on the consol, the same day it comes out you can download

dr. j, you have got momentum against you right now. >> and i like that.it because, as i have said at the top of the show, i think rates have peaked in the short term. i don't think we get above 2.6%. i think instead we get back to 2.2% for the ten-year. i think that makes these yields very attractive. the xlu in particular. and as far as the institutions that have been chasing up here and buying as these yields on the ten-year and so 230forth ha gone up, they have bought huge amounts of paper. lastly, i think because of the breakdown, because of the correction they've made, as i said last friday, i bought the xlu. i bought the xlp, both have worked out, and i think they work more over the next couple weeks. mike? >> i actually don't think rising rates is the reason to be skeptical about the group necessarily. i don't really think rates are going to take off to the upside. to me it's more about as companies, as businesses, they're overvalued. they trade the big guys in the xlu trade at 11 times. that's like a blue chip media stock or something trades like

you said dr. j jon najarian won the debate on caterpillar.y won the debate on friday. >> dr. j, give me a final trade. >> halo, buying that. >> stephanie link? >> like mcdonald's. >> simon baker? >> cme group. >> mr. weiss? >> one of the coal names. >> catch "fast money" at 5:00. certainly following how this market day has ended following the big stories and what it could mean for tomorrow. follow me on twitter @scott wapnercnbc. "power" takes it over now "afl time is over" and "power lunch" and the second half of the trading starts right now. >> if you're in the market these days, you might feel like a flying willenda there. he is, nick willenda. he made it all across the great gorge. our question this hour is will your money in the dow is down big today, and right now we are down, but full coverage awaits us at 14,626. there we are, down 172, off the lows but nevertheless down. behind the great wall. we'll go there. big problem is fear about china. we have a top exec from a major financial power.

if i have some more, i'm have it on the two. >> dr. jbit to get in on this conversation. >> i don't know who these guys are that was tracking that. the volatility spike in eem products yesterday, i thought that signaled if not a tradeable bottom, at least a panic, and that's what i look for as far as finding tradeable bottoms. they might be looking at something -- >> they're looking at the whole thing. i thought what they said about fixed income was fascinating because that's where you saw the outflows. remember, they're looking at outflows, inflows, a variety of things. we were slicing and dicing some of the data, doc. >> got you. >> herb, have a good weekend. we'll catch you next week. herb greenberg for us. coming up, you tweet it, we trade it. we're giving you the best plays on the stocks you asked about on twitter so you know how to make your next smart move when we come back. [ male announcer ] we've been conditioned to accept less and less in the name of style and sophistication. but to us, less isn't more. more is more. abundant

dr. j, you're up first. >> emerging markets, got short them. last week, judge, adding to that short. >> steve? >> most of the carnage is over in japan. dhj on any dip. >> all right. that's the moment we've all been waiting for the worldwide developers conference behind us. tim cook is set to take the stage, and "power lunch" will follow all of it next. >>> and as scott so aptly put it, the big story this hour is apple, apple, a. let's look at the stock. there it is, 446.92, and up $5 a share right now, as you see. this is ahead of that big event that scott and the team are monitoring out there for us, and we're going to watch very closely throughout the hour of "power" today. the stock in that range, 445, 4456, 447, likely to move up or down in the next hour based on what comes out of that developer's conference out at the mosconi center in california. within a tough year for apple, of course. year to date, the shares, as you see, down 16% so far. the event is getting under way right now. we expect mr. cook to take the stage momentarily. we're

i think dr. jgo was predicting they might and, in fact, they did. >> the gamers spoke very loudly, and at the end of the day you listen to your customers. >> i still think digital download longer term will be the death of this company but in the short term obviously the stock wants to go higher. >> the taper talk hitting bonds hard. as you know, the ten-year yield rising above 2.4% today for the if irs time in nearly 2 years. let's get more from jackie deangelis and the futures now crew. >> you can see it on the chart. as soon as bernanke said he was looking to reduce bond purchases, the ten-year yield got going and it didn't stop until it hit nearly 2.5%. anthony, how high can rates go? that's really the question. and at what level to people start to shift back into bonds? >> i'm looking at right here 2.4%, 2.5%. that's your next bit of resistance. we get through that, we could see 2.8%. what's really shocking to me today is you have an equities market that's so much lower and no money flowing int

further than the metal but on the way up that's why miners will pop more than the actual -- >> credit to dr. jbout this yesterday. again even as gold is down miners up. next up, financials. the s&p financial sector spiking more than 4% in the past three days making it the best performing sector in that time frame. >> which makes a lot of sense, but i was looking for banks that were doing well when the market was melting down last week and if you look, we say it all the time. we'll mention pnc because you have to mention it. look at u.s. bank corp what that stock did while the s&p was trading down. it was within a whisper of an all-time high. another 52-week high today and here is a bank that's within a couple percent of its all-time high. it works. why? >> solid management. >> cable stocks mike? >> you know it's really interesting. obviously with the malone conversation about potentially doing deals, that gave a big lift to these stocks but it also gave a big lift to options premiums. some of these things have rallied nicely. you might want to take a look at selling upside calls. take advantag

. >> dr. j. >> tivo. record that one and buy that one. >> bakes? >> father's day sunday, light up the barbie. >> that does it for us. don't forget to catch "fast money" tonight followed by "options action." i'll see you at the nasdaq for that. follow me on 2008e 2008er @scottwapnercnbc. and a special "power lunch" begins right now. >>> welcome to a special edition of "power lunch." sue and tyler are off today, and anything could happen in the next 60 minutes. i'm simon hobbs, and this is a special edition of "power lunch" with a special power panel. kayla tausche will join us covering all the big deals on wall street. a high network correspondent robert frank will also be here, kate kelly who covers high finance and the hedgies and covering politics and power direct and uncut from d.c. eamon javers, so from washington to wall street, from this country to around the globe, we've got you covered for the next hour exploring the events shaping our world through the "power lunch" special prism. we start with the big stories of the week, and, wow, what a

dr. j is the bull.the bear. 1:30 on the clock. >> i'm a senior economic adviser for capital gold group but they're not a producer. as far as my bullish outlook, i think we lows of 1,320. i think at the end of q2 is when we get the blowoff bottom for gold and i think we go higher. i think, stephen, a lot of folks have been pushed out of gold because of the returns they can get in the stock market. if they signal anything about tapering here, i think that puts them back on focus for gold. that's another reason i like it. agnico mines doing a joint venture for the first time, buying mines, not just companies. they are buying mines for producing. i think that's a bullish sign going forward as well. >> well, first of all, as far as the gold miners, they don't make money. give them a dollar, throw it to the ground regardless of what their return is or isn't. in terms of gold, what i would need to see in one combination is fear, pestilence, war and inflation, and even then would only give you a momentary pop.

and i grew up with dr. j. who i thought was amazing and i see that guy like a locomotive. he plays offense and defense. so i love the guys that give the all around effort and art is another thing i love, also. >> rose: but you never painted, you just bought art. >> i just appreciate it. >> rose: that's right. >> i was a terrible, terrible artist myself. >> rose: you're a collector. did you try? >> i tried and i'm not very patient with things i'm not good at so i quit about the third grade. >> rose: so if you had george w. bush's discipline -- >> i could do dogs or cats or whatever he does. how much are they? >> rose: (laughs) >> rose: great to see you. >> good to see you, charlie. >> rose: john mcenroe, stay with us. >> rose: the u.s. open tees off at merion golf club in pennsylvania. the course has been home to some of golf's most memorable moments. this year still provides its own intriguing storylines. all eyes remain on tiger woods as he seeks to end a five-year drought at the majors. masters champion adam scott looks to build on his victory at augusta national while r

. >>> dr. j.thing with billy crystal, he said when hae heard juliuser ving, he thought, finally great jewish basketball player. >> something about us that makes us unique that can often cause you unease. >> in your blog, your letter, you said, i always thought i could hide the secret. were you dating women? were you making jokes? >> dating women. >>> one, two, three. >> gee, that was a wonderful solution. >>> before all this happened, had you ever heard of hummus before? >> no, i hadn't. >>> now do you feel guilty for asking for popcorn and bacon? >> i love bacon. >>> was it the fact that you could fly over someone and dunk the ball? >> charlie, the bigger they are, the harder they fall. >>> it's been my dream to beat angela lansbury. >> do you see how we set that up for you? that would be easy. that was a softball. >> angela lansbury is unskbleevlg is theu unbelievable. >>> is there any word you love saying with a british accent. >>> narc leprosy. >> narco-~ leprosy. >> narc leprosy. >> watch. >>

. >> dr. j. funny thing with billy crystal who said when he first heard, he said finally a great jewish basketball name. i am so happy about that. >> long hours. >> who have something about us that makes us unique that often can cause that. >> in your blog you said i always thought i could hide this secret. what did you do to hide the secret? did you date women? making jokes? what were you doing? >> dating women. >> one, two, three -- magic! >> it was a wonderful solution. >> before all this happened, had you ever heard of this before? >> no, i hadn't. >> now do you feel guilty for asking? >> i love it. >> was the greatest joy for you just flying to the basket and being able to go over somebody and go right over him and dunk the ball? >> charlie, the bigger they are, the harder they fall. >>> it's been my dream to beat angela lansbury. >> do you see how we set that up for you? that would be easy. that was a softball. >> angela lansbury is unskbleevlg is theu unbelievable. >>> is there any word yo

dr. king around the clock. they stalked his every move, broke into and bugged his office. they bugged his hotel rooms and they were tapped into his phones. the fbi and j. edgar hoover were obsessed with ruining dr. martin luther king jr., in 1964 after hoover called king the most no notorious liar in the country in a press conference, a package was sent to king in the mail, a package the house select committee ultimately traced back to the fbi. inside this package, one of the most remarkable artifacts in american history was an anonymous letter addressed to martin luther king. and a copy of an electronic surveillance tape apparently to lend credence to threats of exposure of derogatory personal information made in the letter. we don't know to this day for sure what was on that tape. the heavy speculation throughout the years it was of personal and sexual nature recorded by a device planted in dr. king's hotel room. the letter that came with the tape read in part, "you know you are complete fraud and a great liability to all of us negroes. the american public will know you for what you are, an evil abnormal beast. king, there is only one thing left for

j >> there is a saying that dr.g had that said there is always the right time to do the right thing. i try to live my life every day by doing the right thing. we know that we are only halfway to completely eliminating hunger and we have work to do. walmart committed $2 billion to fighting hunger in the u.s. as we work together, we can stamp hunger out. >> and by contributions to your pbs station from viewers like you. thank you. >> be more. >> be more. pbs. >> welcome to "film school shorts," a showcase of the most exciting new talent from across the country. experience the future of film, next on "film school shorts." "film school shorts" is made possible by a grant from maurice kanbar. celebrating the vitality and power of the moving image. and by the members of kqed. >> boy: the neighborhood i live in is... mostly clean. a lot of gangs tagged up all over.

j thanks for being here today. >> thank you. and dr.nfeld say resident who testified against the plan. she's involved in many differene civic activities very active in montgomery county. thanks for being here thanks sou >> we'll talk about the nuts and bolts. dan, it's basically to ease the tightest, congested areas in montgomery countism we're talking about rockville pike, other areas that the traffic come it's a standstill. >> that's right. what the county is looking at is a ten route 79 mile plan that would create dedicated bus lanes on several major corridors of the county. in some areas they would wind the street n. other areas where there wasn't room they would repurpose a lane. la traffic as bad as it is. it might sound counter intuitivi but it's about moving people not just cars. if you've ever been on a congested road like new l hampshire avenue and route 29 in the mornz, you know it's imp imp possible to everyone's car through. if they are able to have a fast reliable alternative in traffic they are likely to take it. it only

j. snowden." i mean, who can't relate to such confusion? remember how hard it was to keep track of dr. the rapper? or what about the vanessa williams, vanessa k. williams crisis of the early '90s? who hasn't confused dave thomas of strange brew with davis thomas of wendy's? what's becoming obvious of the snowden affair is the opportunity it provides for other nations to give the united states a big diplomatic middle finger. and while the story still centers on edward snowden's whereabouts and the substance of the documents he leaked and what they revealed, it's also increasingly clear edward snowden is all things to all people, to all nations. hero, traitor, pawn, weapon. he's a fugitive for the digital age. an avatar, whoever the user wants him to be. >>> coming up, the president gave an amazing speech on climate change today. it even included a special quasi secret shout-out that i bet you most people didn't even catch. i'm going to let you in on that next. she's still the one for you - you know it even after all these years. but your erectile dysfunction - you know,that could be a q

j with that.st. david jackson wh that. jackson's children and his mother, katherine, sewing aeg live. their kills the concert promoter of and that would delay hiring drlos angeles is a midnight week and is expected to last into august. >> we will be right back. look at 'em. living on cloud nine with that u-verse wireless receiver. you see in my day, when my mom was repainting the house, you couldn't just set up a tv in the basement. i mean, come on! nope. we could only watch tv in the rooms that had a tv outlet. yeah if we wanted to watch tv someplace else, we'd have to go to my aunt sally's. have you ever sat on a plastic covered couch? [ kids cheering ] you're missing a good game over here. those kids wouldn't have lasted one day in our shoes. [ male announcer ] add a wireless receiver. call to get u-verse tv for just $19 a month with qualifying bundles. rethink possible. >> coming up within the next hour we have a story comes started a violent home invasion. >> we're also watching the supreme court yet to rule of proposition 8. we are waiting to see what decisions will be announced. we will have the latest on your forecast and the hot spots that w

dr. bill cassidy, another physician in the house of representatives from louisiana. like i told j. john flemming, i think it's bornt -- like i told dr. john flemming, i think it's important that everybody knows you left a medical practice to come to congress. i know you have some broader concerns about the issue of conscience and religious freedom so we look forward to hearing your comments. mr. cassidy: i associate myself with the comment moifs colleagues. i think there's concern about religious freedom in the united states. but i want to draw the attention of those here to pastor david zaradini. he is incarcerated in iran for eight years for crimes, as they define it, that happened 13 years ago. s that question of religious freedom that involves an american citizen who happens now to be abroad. the professor is 33 years old, born in iran, converted from islam to christianity. here, that would not be a big deal because we have religious freedom. theoretically so does iran. in his early 20's, it was threel do system of at some point he moved to the united states, married his wife wh

j, new addition, brandi, jill scott, maxiell. they'll be performing at night. but during the day, some of the panelists will be myrlie evers williams, the widow of medgar evans, congresswoman eleanor holmes norton. drpeaking. and i've spoken at every essence since you started these festivals. so i'm batting a thousand. >> you are. every single one. and it's one of the highlights of each festival. and the convention center each day, we attract over 100,000 people. and it's extraordinary with the essence empowerment experience stage to have the greatest community leaders and thinkers, you know, who are there helping to empower women to improve their day-to-day lives. so it will be something truly special. >> so we're having mayors there to talk about gun violence. we're going to be talking cultural issues, motivation. no one can beat ileana on that. politics will talking. voter rights, john lewis and myself and others will be talking. and then at night we go and get our groove on. >> we get our groove on. >> a party. >> of course. the one and only beyonce returns to the superdome. >> you've seen me do the james brown. you've never seen my beyonce. >> i've never seen your beyonce. i may need to be my