off the charts grasso is going to give us some levels >> this is pretty interesting. you make this a little too difficult. i've been accused of that. when i look at charts, but if you really look at where we are, where we came from and where we are now, let's look at recent highs. recent lows. and then the bounce back so ultimately, your recent high, your recent low, then you get that overshoot, the traretracem value. it shoots up up here and comes up to 176 retracement level for the high, for the low. do the same thing here recent high. recent low you get another 176.4 retracement level. now, before i get to this one, because we have to guess where this this chart is leading us down the road. so, here, the same percentage down same% dama percentage up and down i don't mean absolute numbers. this one basically doubles the retracement, so the if you're down 3 pes, you're up six, right here, if you overlay it, we're going to 25, that's terrible 50 in the s&p where i see this market shooting based on what we've seen >> 25.50 buy that >> to steve's point, it's difficult b

day, but didn't close smack on the lows, so now i know 78 is my stop off point i like walmart >> grasso. >> i think there's a bigger danger of walmart stealing amazon clientele than the other way around walmart. >> okay. on to the next front of this pricing war gripping america media stocks the arms race for eyeballs as margins get crushed. who wins this war? let's bring in andy serwer good to see you. >>wi >> likewise. >> what was interesting in terms of the comcast comments made at the conference yesterday is that they were talking about these content providers over the top services willing to cut prices so deeply, they're offering it at a negative gross margin how can you compete against these kinds of price cuts? >> it's brutal it's a lot parallel. you are in a box look at disney that's something we wanted to talk about pr vid over the demise on the business shift the whole model and tell the board. then he's got to go out and tell shareholder, we're changing it up you're soo right no pricing power and content is xh xhottized. what's the news business is cnn that different from msnb

tripadvisor. >>> avis moving higher by 2.5% after grasso pounded the table again.t's a double. >> almost there. almost there final trade time pete >> love the tech, the chips. micron looks like it's going higher >> all five shares in avis went up, so i think you're looking for ecb, you have bend >> steve >> square. it's up 90%. buy. >> one of our great producers, bryian price, leaving us. go to columbia university, congratulations. >> thanks for watching see you tomorrow at 5:00 "mad money" starts 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 like to make friends, my goal is to make you money. so call me or, of course, tweet me at jim cramer anybody who has a high school diploma has almost certainly taken a course in

there's a whole bunch of plans, most recently, dc councilman david grasso introduced a plan where he thought it would be a good idea to sort of have all the people come to one place and shoot up because it would keep them safe. what's your take on that? >> we're always worried about patient safety, i'm not sure we should be encouraging drug use, even in a legal way, let's get you treatmented counting, take care of your depression, addiction, outside of giving your narcotics i way and there's implants you can use for patient that is can help with the addiction, it's not like a methadone treatment program that has been around since the 70, real care versus the quick fix >> did all these focus on doctors who may overprescribe, those aggressive prescriptions, cvs came out and said if you have a new prescription it will be a seven-day refill to start with then they move on from there. how important is it for these pharmacies to be a partner in the whole opioid crisis? >> it's incredibly important. physicians, patients families, we all need to be on the same team. and again, the choke poin

eleven year old frank, otherwise known as fx he likes to be called, not only to got to cut grasso also. amphibole the entire rose garden, fx and his father got the vip treatment. he visited the oval office, the press briefing room and more. he said he never realized his offer to help would attention. after i interviewed at fox. then i went with cnn. then i mowed the white house -- the rose garden. then i had a huge amount of interviews afterward and i did not see it coming. the president told me that i done better than the national park service, but he said don't tell them that. in case you're wondering, fx didn't charge the president for his services. he said the lawn at the white house was much easier than his usual clients. that's good because it wasn't hilly. his other clients is a little more hilly. >> he'll remember that forever. >> he sure for for sure. it was a great day to be out there cut ting the grass today. >> we had great weather today and we're going to keep that rolling a bit for the weekend. just a few little bumps and mountains in the weekend, but not too bad. little

and counselor member david grasso is backing this plan. >> you can have onsite the services people need in order to recover from addiction. you can have counselors, you can have healthcare professionals there to work with people to get them through the addiction. >> addiction centers are already being used in canada. d.c. mayor muriel bowser not endorsing the plan just yet but director to canada to learn more about the program there. >> and well do you have any old or expired medications. well st. mary county sheriff office is offering 24 hour medication disposal vsservices starting tomorrow drop off unwanted pills to officers at the drop boxes next to command post and take back effort is to make sure pills are properly thrown away. you can drop them off headquarters in leonardtown through the 24th. >> steve. >> thank you time for the morning line. when it comes to sports today seven strong innings for sherzers. 250 strikeouts on the season. helped lift them it a win over the braves. ryan zimmerman cracked 100 rbi mark on season gone it a couple times. two runs, 101 in season. train tun

council member david grasso is backing this plan. you can have on site the service s that people need in order to recover from addiction you can have counselors. you can have healthcare professional s there to actually work with people to get them through their addiction. now, addiction centers such as this one are used in canada. kc mayor muriel bowser is not endorsing the plan yet but is sending her health director to canada to learn about the program there. knowing how to keep an athlete who collapses \safe\save could be the key to saving their life. researchers found athletes are dying from cardiac arrest incidents because teammates, coaches and bystander \he\es simply don't know the best ways to save them. between an athlete collapses they don't know how to use ypr. if you see someone collapse start chess exrations. the bullets from nerve guns can cause serious eye injures. thef he ' reeted people with internal bleeding around the eye and even blurred vision. doctors say used correctly nerf guns are okay but recommend they use c

council member oh david grasso is asking the health director to look the at at a practice for providing sites for addictses to do their drugs with medical professionals nearby who can also help them get clean. this is a supervised injection site in van keufer, canada. you you can have on site the services that people need in order to recover from addiction. can have counselors, healthcare professionals there to actually work with people to get them through their addiction . mayor bowser is not endorsing the plan yet but is sending her health director to canada where the practice is in placement we're always looking for a way to keep d.c. residents alive. leaders are just exploring the present now. there's no estimate on cost, number of injection sites or p the city could be held liable. some leaders want to hear much more before they support this. i'm a assuming that the imoal is to save like is this something that you want modern society to be involved with? many are comparing this to the needle exchange program. you'll remember that was very controversial, basically people that needed

today from picktat asset management at post 9 sitting next to new york stock exchange trader steve grasso and jack from ucx is with us from the cme in chicago. steve, of course, the dow had its best week of the year last week and, of course, it continues higher today >> trend is your friend, right >> we haven't had a 3% pullback, even a 5% pullback, in -- >> when we have a 1% pullback, it feels like we're at a bear market so everyone just jumps right back on, you buy those dips, still in the buy the dip mentality. if we were to have this conversation a couple hours ago, we would have been talking a iiu the trends and how the markets keep moving over those big numbers, big fat round numbers 2,500 in the s&p cash. >> funny how it closed right on that number on friday, right >> everyone shoots right for it, all the open interest staggers around those numbers we see this latest bit of hit coming on facebook as you guys introed, a lot of large cap tech names are coming under fire. people are looking for cover somewhere else does that last a week? >> safe harbor, ironically. >> does it last a w

13.11, up slightly let's talk more about market action joining me on the cnbc news line is steve grasso, cnbc analyst and director of sales at stewart frankel. good morning >> how are you >> very well i want to kick off the move up in yields. 0.2% move higher in yields in about 2 1/2 weeks. coming into a fed meeting. what's driving that move higher in yields? is it a bullish sign for equity markets that yields have been ticking up >> i think it is a bullish sign. we've seen dollar yield, as you mention, we've seen oil dollar, we've seen correlations, sometimes be on, sometimes be off. you can't invest in that you need something more consistent i think yesterday when we saw the financials lead, maybe there will be a misstep, maybe the fed will raise and i shouldn't say misstep. i think that the finance community is worried that the fed will go on this rate rise cycle that will be much to the chagrin of the equity markets. maybe too fast but i think the case is rotation will we see the financials outperform based on the fed or is this the blink of an eye type episode. >> does tapering ver

. >> how you >> i'm on the floor with steve grasso. >> book ended the markets. >> much better tone of the markets actually than what we're seeing now what do you make of that >> i think people are digesting. we had the -- we went from watching everything but the fed to now myopic on the fed and the unwind and we got past the north korea for a while. couple of weeks ago. those fire and fury statements and now we're back on focused on the what-ifs in the marketplace, isn't this a great time to lock in profits so many days of record high. >> that's exactly what i was going to say, coming off a nine-day win streak, we're up 14 of the last 16 you don't get streaks like that often so this is not that serious in that context. down 38. >> sure. it's almost like when you go to the casino and keep betting on the same number at the roulette table, eventually it's got to come out whether you look at red or black, eventually you got to have a red day i think that the market is incredibly resilient hanging in there with everything that we've talked about, everything we talk about on a daily basis.

her legislation and a similar measure proposed by at large councilmember david grasso would automaticallyny arrest records of those not prosecuted. >> some folks have made some mistakes and they have paid the price for it, but they shouldn't have to pay the price for the rest of their lives. >> reporter: d.c. community leaders say such a law would pay community did he have dividends in all city neighborhoods. >> to be productive citizens, to work, to go to school, to be a productive family convicted of felony drug distribution. he hopes the new law might also address those who long ago served time and now have clean records. >> but, of course, when you have a record that can't be sealed, it affects you for the rest of your life. >> reporter: council judiciary charles allen said he'll hold a proposal as soon as it's ready. in the district, tom sherwood, news 4. >> now at 6:00, police say a maryland man was living a double life that was starting to unravel. >> i pray that she's safe. she comes back. that's all i care about right now. >> reporter: but that was a lie as investigators question

our guest host is steve grasso, cn bshgs krshgbc fast mron trao. every day guys need to generate content that people need to click on -- >> if you go to zero hedge first, it's a good one >> it says the next financial crisis is starting as they unwind will the unwinding by the world's central bankers of all this accommodation, that's one idea the other day we had someone on who said it will be fine ray dalio said the thing to worry about is that they raise rates too quickly. they successfully put in enough cash where you needed to do that it was necessary and that they did save the world. it won't be an event unwinding which is it. >> i have confidence in the central bankers. however -- >> why >> because i think -- >> they get through the crisis the worst didn't happen. i think the key is that right now there is the greater chance than normal of a policy mistake because you're coming off an unprecedented situation. >> would the policy mistake being go too quickly or not quickly enough >> either way. we never had negative interest rates around the wo

. >>> fort folio manager at eaten vance, steve grasso from post 9, and rick santelli checks in from the cme as well. so, steve, i should point out the yields have come back as well a little bit. so how do we put this in perspective? yesterday we were concerned about north korea. expectations for irma, what do we say about today >> i they all those are the major concerns that the market is still battling with, but it was the top story and it was d.c. and trump, president trump making a deal with the democrats, which was seen as quite unlikely the republicans can't seem to figure it out among their own parties. >>> and i do believe that the path of least resistance is still higher people are buying dips north korea, and every dip has been viable. >> yana, you agree with that >> i certainly do. i think i agree with the fact there's some level of skepticism that has crept in, which we think is healthy when you think about the sentiment there's few fracturors we follow. one is basically a survey of investors and the markets are six months owl right now 775% of all that responded said they're

our "closing bell" exchange, chris johnson from johnson research group steve grasso with us at post 9 rick santelli checks in from the cme in chicago as well it's a mixed day, steve, we've had gains for the week for the most part for a lot of these sectors. financials have done well. but apple has been a big laggard this week. what do you make in the aggregate, what's going on >> i would say the aggregate we're still at 2,500 in the s&p, huge battleground for stocks. >> right. >> in my opinion, it's good breakout or breakdown is good for probably a 2% move we've kept a lot of people on the sidelines. when you have markets that aren't moving as volatile as they would like them to move, you sit on your hands. you don't do anything. but when you look at apple, remember that -- the facial recognition glitch that they had during their presentation, i truly believe that that really opened up the sellers. everyone said, you know what, let's start ripping through it here, no reason to upgrade, let's start looking at numbers if they didn't have that glitch, this stock is at 160 range and that'

we have paul steve grasso from stewart franco on the floor our own rick santelli at the cme in chicago guys, good to see you all. steve, we have, again, the story unfolding for a while, not specifically north korea but even when we get adverse h headlines the market finds a way -- >> shrugs it off -- >> -- to rotate, stay supportive near the record highs. today may be a fumbling of the baton. energy up but the banks and techs both down. where does that leave us with the overall market >> i think you've seen this big tech, sell big tech, sell risk on, sell the growthy names that have been doing so well. remember, mike, you better than anyone knows this, end of september, have the quarter rerebalance, monthly rebalance a lot of this is sell what works, buy what wasn't worked. we haven't yet seen the rotation, to your point, take hold for anything longer than one or two or three different sessions this is a big month for energy and i think it could last a little bit longer, at least until the end of september i think you're going to see this rotation of selling the large cap tech stocks.

part of our closing bell exchange, steve grasso and rick santelli checks in from chicago. steve, watching the sausage being made in washington, and it's a day when the stock market after two decent rallies, days of rallies, is resting here. >> it's resting right on all-time highs i don't think this is, this is a losing day, you can't say that this is a bearish day. even the whole movement in the stock market today was driven by what we just discussed, which was tax policy or the idea that tax reform will take place, but i think this is now from a point of strength. talking about the upper income levels, i don't think that's going to sell with republicans i think that's going to cause more fractures within the republican party and it's not going to be overcome by a handful of democrats going on board with it. if you look at where this is coming from, kevin brady, paul ryan, they introduced border adjustment tax that didn't go over well mortgage interest, that didn't go over well when they floated that balloon, and what about the 401k to kelly's point, there are a lot of thi

is in record territory joining our "closing bell" exchange, mark lehman from j&p securities, steve grasso at post 9. rick santelli at his perch at the cme in chicago steve, we're calling it a relief rally. i mean, all these things we are concerned about going into the weekend didn't quite materialize as feared. north korea being one, of course, and then, you know, the sbimtss fo estimates for irma were maybe as much as $120 billion in damage now looks more like $30 billion to $40 billion you know, not as bad but still bad enough for those affected by this what do you make of this rally today? >> reporter: right, all your point of reference, right, so whether it was $120 billion or $200 billion or the forecast or the estimates, when you look at the rally today, it just stands and speaks to the pent up demand for equities, bill people have to stay invested in this marketplace it's their best bet for a return you don't see rates going anywhere as a matter of fact, it's less likely the fed will do anything other than sit on their hands. you have to be in the markets. you have to not get in th

mccain, collins and makowski, joining us now, senator john grasso. usual group in other words. mr.is a republican for wyoming. my question to you, can the republicans rip the votes needed to get this through? >> and for having me. committed to do something. we need to provide relief and a better way to get the decisions out of washington works much better. many of us were committed to do. where in the process of working with every member to get it done. ashley: what do you do to persuade senator murkowski, collins and mccain that this is the way to go. >> you work with every member on why it's better for people who suffered under obama cured to help those get the care they need from the doctor they choose at lower costs. so many governors have come out supporting mass because they know they do much better in their states if you don't have washington dictating what they have to buy. plus this eliminates the individual mandate that says everybody has to buy a government product, a government approved product it eliminates the employer mandate, which is very helpful across the country