. >> speaking of what's happening in china look at fxi on the wall trading lower. chinese stocks having their worst day joe terranova in a month as you look at the choppy chart. >> what successful traders and investors should be doing is trading monetary policies out of china not holdings in fxi, china mobile and construction bank, seek out dependability, seek out certainty. you do that through a johnson, delivers 30% of earnings, even a nike, apple, mcdonald's, that gets you in the hands of the chinese consumer. >> take a look at facebook trading higher, 3%. $1 billion of instagram could be approved by ftc by mid august, settled patents and strategic alliance with yahoo!. also reports about job post site weighing on linkedin. all in all decent day for facebook. >> very decent day. in fact, the last few -- four of the last five days you've seen good upside call buying. today, judge, we saw people taking profits on the near-term call bets they sold out of 31 calls, for instance, that more than doubled in the last -- since the last trading day. and they rolled up to

fxi. are you early, do you thk? >> we're probably early and the strategy would be to gradually move into it over time, the june figures in china look good. they're going to get a lot of stimulus, fiscal and monetary stimulus, and subsequent to the turnover this fall. >> tom: so looking for a chinese play there. you haven't been afraid to go overseas. >> last time we spoke to you in february, you were looking at the s&p for oil and gas equipment services fund. that's down 10 and a half percent. but you were in developing markets in the etf in emerging markets. that's down 10%. you've taken licks. are you putting new money to work? >> definitely. when cash it available we're putting mon nethose areas, particularly the emerging marketss are going to grow much more rapidly. we see significant opportunities there. >> tom: optimism abounlds. the u.s. how about the fund? do you own the fund yourself for you and your client? >> the firm owns them, the fund owns them. >> tom: marshall front with the front barnett associates.

. >> got a pop for the fxi. up. >> still putting in a decent chart level here.y a play on the macro feel. got the fixed asset investment. a lot of data coming out. it has been very priced in. i could stay long. >> got a drop here. down here 3%. >> 3%. that is not so bad. >> i think most of the bad news from their earnings release, the big revenue guide down. >> mike? >> lower production estimates for corn also translating to lower production estimates. >> this is not a good recipe for them. >> coming up next, investors place the hide out in global growth. a safety play of a different variety. one to try to make your day. we will give you the trade right after this. laces? really? slip-on's the way to go. more people do that, security would be like -- there's no charge for the bag. thanks. i know a quiet little place where we can get some work done. there's a three-prong plug. i have club passes. [ male announcer ] get the mileage card with special perks on united, like a free checked bag, united club passes, and priority boarding. thanks. ♪ okay. what's your sec

there is the china fxi today, down 2%. those things weighing on the markets today.reholder the meeting today, the new ceo, you know what the stock has done. that stock is down another 5% today. the bad news from jc penney today, they're laying off 350 people today. investors seem to be wondering when the end of the stock decline will happen, because it's stock that continues to go down, down another 6% today. if there is a stock that really sort of accelerated the selloff throughout the afternoon on wall street, you would have to point right here. they gave a warning, the stock down, and you could see the impact through many of the industrial names. throw up caterpillar for example. you will see a similar reaction. there it is, off the cliff there, and that helped bring the markets down as well. let's talk to a couple market participants here. you have this cummins warning that was alarming. the ones worried about growth, tech and industrials. >> yeah, and tech and europe, the slow down over there, but if you look at the trading, i mean you have the 1361, the s&p, t

. >> let's look at the fxi. dr. jay, this must be somewhat related to the trade data that came out over night. what dooupg about that and any unusual activity you look for? >> this was wufr those, scott, opened right around 33, etf for the chinese market and then you take a look it traded all the way down into the 50s, like 32.55 or something like that was the low. i saw a number over 350,000 share blocks of this etf going off bang, bang, bang, bang, down there around those levels within the first hour of trade and then a whole bunch of puts when you put together a long put with an etf or stock and somebody is making a big bet this thing may have bottomed, scott. >> the home builder index trading at a four-year high and beaster home drops after announcing plans to issue more stock. >> as bullish as i am in the long-term on the housing stocks, when you start to see a company selling their own stock which is essentially what they're doing here, that gets me concerned. i would rather be a name where there are buybacks.