not a strategy whether in englewood cliffs, or new orleans like we are tonight, it's the wireless conference. repeat after me -- panic is not a strategy. that's all i can think about ç after today's action where the averages got clobbered and rebounded into the close. dow at one point down 198 points before ending down 76. s&p sliding .43%, nasdaq down .39%. i got to tell you i was upset all day about this decline. not because there's reason to be concerned. i'm not that blind. total chaos in europe, greece is falling apart, the french seem to be waking up to the notion they might be impotent against the germans. the failed policy of austerity will stay in place. i was trying to get my arms around everythinbile today in new orleans, and i felt like i had to get my arms around everything mobile in europe. we did have some warnings. we saw fossil get slaughtered, sinking 48% of its value. what is the wholesale value of scotts miracle grow? big data warehouse rackspace plummeted five points. mako surgical, thought to be the next intuitive surgical, down 36.81, a staggering destruction of wealt

diana olick is here, literally, here in englewood cliffs with the top spots. >> that's right, brian.e last hour investors are still feeding on distressed homes buying up foreclosure likely to take advantage of sky high rents. if you're one of them, where will you reap the greatest rewards? reo or bank owned properties. take a look down at number five is san francisco where foreclosure prices are down from a year ago averages about $308,000. now, i know that's pricey, but the foreclosure discount, which is really what we're looking at and the primary driver of this list is 38%. and rents in san francisco are the highest in the nation averaging $1,900 a month according to the national low income housing coalition. so, excellent investor returns there close to half of all home sales in san fran are reos, that's the highest share on the list. all right. coming in at number four, we have tulsa. tulsa comes in four. lower prices on the reo but still a good discount of 38%. rents are not going to be quite as steep, but for flippers the discount does work. coming in now at number three, take

but we begin right here in englewood cliffs with kayla tausche. she's got new information on the potential pricing. kayla. >> tyler, with the first half of the road show completed, we're hearing demand for the deal is already heavily oversubscribed just from institutional investors from big money managers and hedge funds. that's not taking into account the 10% to 20% of the deal, which is a standard amount, that will be divvied out to retail investors cht currently the price range is wide. $28 to $35. that will have to be updated. if the price range gets raised, which two sources said could very well happen even after more data emerges on monday or tuesday based on demand, if that range goes up more than 20% above the current range, that would have to be disclosed in an s.e.c. filing. the pricing set to occur thursday with the trading friday on the nasdaq. as far as ipos, the demand is high because there aren't that many ipos out there. even small cap investors would take a pass, but there's just not enough sflie out there. tyler. >> kayla, thank

conference calls as i schlep from downtown manhattan to my studio here where i do "mad money" in englewood cliffs. i got to help you this earnings season. i want to offer you a new way to use earnings season to put it in perspective. because most of you who watch this show are not the day traders that really hijack a lot of the thinking. you're not trying to gain a quarter. because it becomes so difficult to predict, and often the initial moves aren't even accurate because of the press coverage, or because something is nasty in the overall market, because of europe or something involved in the election. in other words, other than for those who are shorting or going long stocks ahead of the quarter, these earnings reports need a context to make you money. they can't be relied upon anymore because they aren't as predictive of future behavior as they once were. they are a piece of the puzzle, a part of the mosaic. but they're only one of many important parts of what predicts where a stock will go over the intermediate term. that tends to be the focus that i teach about on the show. and it is a teach

there are some magnificent ships that we've all been admiring as we work our way down from our englewood cliffseadquarters down to here at the new york stock exchange. i'm joined by two american soldiers that we really appreciate your service, gentlemen. thank you very much. i'm joined by lieutenant russ ferguson. you're from north carolina. >> yes, ma'am. >> thank you so much for what you do for our country. and you are lieutenant commander walkford from california. beautiful part of the world. are you enjoying new york? >> absolutely. >> it's been a wonderful experience. new york has rolled out the red carpet for us. >> as we should. >> it's been a wonderful 24 hours so far. we don't know how we're going to top this for the next five days. >> you never know in new york. thanks gentlemen, very much. so diana olick road into the harbor on one of those ships. she joins us pier side. diana, over to you. >> that's right. as the wars wind down, washington is under incredible pressure to lower the deficit. threats of draconian cuts are looming. the administration already planned $487 billion in defe

our headquarters are in englewood cliffs so there's a windy road that goes down to the hudson that we warned the englewood cops -- >> the cops were told. >> -- that we were going to be using it. i drove that car as fast as i possibly could. >> i tried to. >> and i was riding with andrew when we first went down that road. >> that's you screaming. >> like please slow down! >> the one you were driving was 300 grand. >> and it had a back seat. >> what was the one we were in? >> 220. >> we were in the cheap seats? >> i drove after you left. >> a starter ferrari. it's called $200,000, a starter. >> and this is us together. i thought you were going to kill me. >> that's why i got into yours. i did pass becky a few times on the palisades. is that called the palisades? >> becky's on the phone. >> we were lost. >> we were lost. >> the hatch back, the one that has the -- there is room in the back seat, adults can sit in the back seat of a ferrari. the sound of of the engine is unlike anything i ever heard before. >> i thought the one with the top that you had, the commuter car, what would you do