how far should it go joining me stephanie link, jim lebenthal and john i the biggest jump since february. a 3% gain for the nasdaq big question, doc, is the bounce legit? can you trust it how far can it go? and, i'll tell you what, you must think it's not going to last and it's not legit because you sold netflix, you sold adobe, you sold google, you sold square, you sold sofi and just bought those on december 3rd >> that's right, scott well, you buy them when there's blood in the streets, when they're greedy you want to be fearful. when they're fearful you want to be greedy and so i bought all those last week. you were getting a much-deserved day off on friday when i was on with frank and the crew, but we were waiting to deploy some capital, scott, and when the market was getting throttled, we bought square at 175 or less, sofi at 14.70 or something like that and google, adobe, all of these stocks that you described, i like to, pete likes to buy stocks and sell that pumped up volatility we were lucky because the volatility came down so fast we were 35 just on last friday >> talking about

with me for the hour, stephanie link jim lebenthal, josh brown and the dow is down 160 a loss of one-half

how far should it go joining me stephanie link, jim lebenthal and john i the biggest jump since februaryaq big question, doc, is the bounce legit? can you trust it how far can

with me for the hour, stephanie link jim lebenthal, josh brown and the dow is down 160 a loss of one-half of 1%. the s&p down 1%, approaching a 00-point decline what could end up being a 2% decline. we'll have to watch that and the ten-year note yield at 143%. let's kick it off with the gang. farmer jim, i go to you first. you've been mr. all in are we at a crossroads for stocks today >> simple answer is yes. >> i think what you define those crossroads as, scott is the fed will become less supportive. today's ppi number continues the trend of inflation being much higher than expectations so now we're not only talking about the taper being accelerated this week. we're talking with much sooner rate hikes next year than was expected just a few months ago that does have the market on edge it's something that the market will adjust to, but what we need to expect going forward is higher volatility. we've lived in such a benevolent regime for the last 14, 18 months and it's been two months since the s&p 500 touched an average. buckle your seat belts one interesting crosscurrent today, scott, is