stephen guilfoyle, aka sergeant has been watching and participating as a trader.ord, how would you describe the action this week? >> you still take this? right. trying to be creative with the vocabulary. >> wow. it's been nuts. go back to last thursday, you saw moves that were incredible. and then all of a sudden it stopped. yesterday around lunchtime, up to today, if you take out dip caused by the computer glitch, we stabilized in the 1980s on the s&p 500. >> do you think that everybody who really makes a dent or a move in the markets is watching what the central bankers in jackson hole are saying over the weekend to decide before they trade on monday, what goes on? >> you know, yes, they have to watch, but like i just said, the markets stabilize once jackson hole started. i don't know how much all the other guys had an impact on. >> we know that jeffrey lacquer said come on, let's go, coacha said hold off until early 2017. it's been fascinating to see. but putting that all aside. what will you look for when futures start trading sunday night? >> i'm going look a

liz: stephen guilfoyle says he's never seen a day like this. it's the comeback?a comeback and a selloff and a comeback. [laughter] i mean, i don't know what the call is. i'm flabbergasted. liz: thank you. thank you very much. you're getting the real feel from the traders of exactly how stunning a day like this it truly is. it is not an overstatement to simply call it a historic move. right now the dow jones industrials down 398 points. i am just going to describe the scene here. not panicking at all. we have not -- and it was mentioned you can't throw the word crash around -- we don't use that word around here unless it is really, really warranted, and it is not, folks. it is not warranted when you see a three -- now it's two and a third percent flip on the dow jones industrials. i had more people over the weekend considering what we had seen for friday come up to me, i was in california. my 85-year-old grandmother wants to know what to do. i said, don't do anything right now. you do not sell at the point where it is really discounted. that's when you want to be

we had stephen guilfoyle at the last second.ever seen 1,000-point drop like the one that we saw this morning, so i think that it was extremely frightening and stunning. the herd mentality took over. people began selling, selling. then the smart ones decide to pick up the very cheap names like apple and visa. >> you've seen it all before. what's your advice for seasoned pros and individual investors first thing tomorrow morning? >> take two aspirin and call your broker in six months. >> is that another word for do nothing? >> don't just do something. stand there. if you want to trade the market with the elephants, where steel-toed shoes. stewart, china hasn't gone into depression. they've cut their growth rate from 10 to 5. the u.s. economy is strong. banks are strong. this is not '08. this is not 2000. this is not 1987. this is a normal correction in a secular bull market. i would not be fearful. we may not have seen the bottom today, stewart, but capitulation was awfully close. i think patient investors should just sit on the s