. >> well let's bring in a we well-known wall street investor raoul pal. good to have you on set. >> good to be here. >> and do you think the investors are saying we are in recession and maybe the growth isn't in tact any more. >> the growth haven't been at these kind of levels outside of a recession, maybe outside of 1985. we see global growth in the chart we toked about last week when i phoned in. those things are out there and it is suggesting that the market should go lower based on the fact that the global economy is getting worse. >> you've been warning about this for quite sometime. and when you came on the show and talking about this, you were probably one of the few people out there. and now it is more of the consensus view. we've had rbs come out saying sell everything. we've had jp morgan saying sell rally. stock gen, albert edwards, issued a extremely bearish forecast, excuse me. are you getting concerned it is maybe becoming consensus. >> at some point when things trade it is consensus. it will be. that is fine. it doesn't mean we'll get a bou

raoul pal, publisher of the global macro investor. >>> when you think last year, easy trade was to crowd onto growth at a reasonable price. we know what those names are. when you think about amazon down 10%, and there are a lot of people who will sound the same this week as they did two weeks ago about amazon's prospects, they are going to be wrong when they continue down that path. in 2015, a stock like amazon gained $150 billion in market cap and shed $30 billion. we know an apple is showing, disney showing us great stories that positioning where it's just the wrong way. they will overshoot on the down side. that's the risk to try and pick a bottom. >> if the market continues to sell off. you are right. if the market rallies back, all those names will probably tick up and outperform the overall market. there is a lack of ideas on the street right now. they are going to rush back into them. >> that wouldn't be healthy. >>> coming up, the biggest bull on the street, tom lee is buying the dip. he has the three stocks he says could thrive in this market route. >> apple shares slashing pric

has been on this and raoul pal said it would trade lower than that. and here we are now.is the canary in the coal mine. is this the today's market. it didn't bounce today. you might be spot on. >> over 7 million shares traded it trades over a million. >> guy is good on that. >> it was over 5%. we could talk inside, outside, on the web extra. we used to do that. >> mike. thank you so much. for more "options action" check out the full show at 5:30 p.m. eastern on friday. >>> coming up next, the traders tell you what they are watching tomorrow right after the break. more "fast money" up next. here at the td ameritrade trader group, they work all the time. sup jj, working hard? working 24/7 on mobile trader, rated #1 trading app on the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of other competitors do on desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivatives pricing model, honey? td ameritrade. i thione second it's there.day. then,

they've got raoul pal. they'll ask him what he thinks of today's plunge in markets.eveal his two new trades of 2016. >>> biotech one of the big waiters on the nasdaq today. it was down more than 5%. up next, we'll get a top analyst take on whether some of these beaten down names are worth picking up right now. >>> chipotle was one of the bright spots today. we'll tell you what the company's ceo said to calm investors' jitters. that's later on "the closing bell." ne ne equals pretending to know wine. pinot noir, which means peanut of the night. >>> welcome back. biotech falling more than 5% today. bertha coombs joins us now with so. the biggest movers. >> a lot of folks were very bullish. broader than average volume. but a lot of the folks who are still bullish say if you take a look at the valuations, these stocks have come down so fast and so far, the biotech sector basically has a same p.e. as the overall s&p. take a look at some of the new losers. some of the former big cap winners now are small caps. these stocks are 50, 60, or in the case of arena pharmaceutical