our traders are tim seymour, brian kelly, steve grasso and guy adami. old technology stocks are becoming the new momentum names. look at the moves over the past five days for ibm, cisco, intel, and qualcomm. is it too late to buy into some of the tech players? let's start off with ibm. hpq's gain this year was ibm's loss. >> look at the last quarter at ibm.

our traders are tim seymour, brian kelly, steve grasso and guy adami. old technology stocks are becoming the new momentum names. look at the moves over the past five days for ibm, cisco, intel, and qualcomm. is it too late to buy into some of the tech players? let's start off with ibm. hpq's gain this year was ibm's loss. >> look at the last quarter at ibm. eps. but they continue to miss under revenue line. and they continue to miss badly. i think the business is floundering right now. but the stock performance, since they reported that quarter has been nothing less than staggering. the stock has held 175 three times. but since october, november, you basically put one in terms of ibm. i think you sell it with both hands here. i think they're going to probably have another lousy to miserable quarter. but the stock has been incredible now for a while. the last -- today's action in ibm, absolutely surprised me.

steve grasso to you first on the floor, what do you make of how the u.s. market is reacting? >> this marketplace investors are looking for a reason to sell the market. they've been looking for that with the spike higher in the s&p. so this is no different than that. they're trying to capture a moment where they can feel good about selling it. they don't want to sell the market and have a trade 2%, 3%, 4% higher as we've seen in the past. they're trying o take hold of it, but all of these events have always been a buying opportunity. i think that's in the back of everyone's mind. >> pete, is it in the front of your mind now? a reason to sell now becomes a reason to buy? >> absolutely. warren buffett talked about that this morning with becky. it was very clear to me. what i haven't seen yet, scott, is heavy selling in specific names where you'd really want to make moves. you're seeing sort of a broad selloff right now. again, very much like the correction we got back just about a month or so ago where we had this huge spike in the volatility, a big pullback. and those were grea

our traders are steve grasso, brian kelly, dan nathan and guy adami. and the mother load coming for apple. our top story, stocks kicking off the week in rally mode. there isn't a lot of conviction behind this move. the total trade and volume today, the second-lowest of the year. is all the drama over russia, china behind us or not? and the v.i.x. was down a lot. >> there's fear going into the weekend. people knew it was going to happen here. but in a way, i think equity investors kind of repositioned a little bit. they took some profits. last week, we saw some momentum names get hit hard. winn and tesla. and they battled healthily today. the price action is not that surprising. the s&p 500 today, up 90 bips or something. made back half of last week's loss. i don't think this is one of the things, pound the tables we're going to new highs right away. >> the other thing is yellen, the fed meeting. and "the wall street journal" had an interesting piece saying the last time yellen spoke, the markets went up. >> no one is going to get in front with sell pre

our traders, steve grasso, guy adami, karen finerman. and tensions in ukraine, sparking a sell-off and it's not just equities. the ten-year treasury yield seeing its biggest drop in two months. copper seeing its lowest close in almost four years. is this the beginning of a bigger pullback. steve grasso. what was it like on the field as the game wassen folding today? >> for me, i thought it was more china. but when you see the drop-off in fields, china wouldn't have done that. art cashin from the floor and myself were discussing it. that would be ukraine. and for me, i think ukraine is just a passing blip. i don't think it's going to be there next week. yeah. that's all i'm seeing next week. if you're short, you take advantage of it this week. but look for a bounce next week. >> pete, how worrisome was today's move? >> there was a solid sell-off. but when you look at the financials, down about 1%. the energy, down 1%. the chips, down a little more. they've been outperforming. one thing that really stood out for me was the monster spike. w

steve grasso is on the floor of the new york stock exchange as he is every day and sheila is monitoring all of the big movers at the nasdaq today. that's where the action is. we do begin with stocks that have been all over the place in the first half of the trading day. once again, as i said with carl and kaykayla, it is the momentu names in focus. raising the question of whether it's just a matter of time before the entire market cracks. let's take that to the panel. pete, that's a question of the day. watch the momentum stocks because they're starting to break and break hard. >> and they certainly are. when you look at the facebooks of world and you look at the names that we talk about all the time, especially those that are trading with multiples that are extreme, those are the names being targeted. i think on the other hand you do see other areas of the market that are not getting hit to the same extent. many names hitting 52-week highs you can see some of that performance. whether you're talking about a caterpillar or going over into the material space, something like an fcx or go

steve grasso on the floor of the new york stock exchange. as the markets continue to reach new heights, are the warning signs being ignored? signs that could eventually put this rally at risk? let's take that to the panel. josh brown, there are so many things i can cite today. biotech down 7% over a couple days. concern over ipo froth, small cabs tracked by the russell 2000, the longest stretch ever. concerns or what? >> what's interesting is all of these things have been around us and apparent for a few weeks. but in the short-term markets are not driven by fundamentals, they're driven by sentiment. there's been a clear shift in sentiment taken place over the last week or so. obviously today it's exacerbated, worst session for the nasdaq in one o twor months. i want to talk about biotechs briefly. i flagged the debate over the weekend. there was talk on barons, it's been inflating for a wliel, i think it's a good reminder to investor who is are overweight some of these really frothy areas, since friday morning's open the ibb is down 10.5%.

steve grasso, who is joining the conversation -- sorry, he's not here just yet.ond. i'm all rhode island up by these markets. >> i'm going to rain on your happy. >> go for it. >> i'm surprised the market traded as well as it did this week. i'm surprised the market is as sanguine as it was. a few weeks ago when i was on, you were carrying on about argentina and turkey and blah, blah, blah, and i'm amazed that what is happening in the ukraine has not rocked markets to a greater extent. >> why should it? >> you're looking at a high probability of an annexation and all sorts of -- this is not going to end well and the market doesn't care. i'm very surprised. >> i want to know more about why you think that. most of the time i wouldn't give any credibility to anything you say about the markets, but you lived in russia. why do you think any kind of military action or -- that this could become more serious? what makes you think it's going to get more serious? >> look, it is very, very hard -- >> what's going to happen? >> it's very, very hard to see an easy way out of th

i want to bring into the conversation now "fast money" trader steve grasso just finishing up on the floorl us about the action today. what did we learn? >> you know, first of all, we came off of that s&p rebalance last friday. we came off the expiration so you had a little bit of a day off yesterday for traders trying to figure out where they wanted to line up. but right now it's just -- i remember the last time we spoke about it, i said look at how guys are still trying to buy utilities. why are they buying utilities, kelly? em was confusing most. everyone thought that was the place where you had to get out, you had to ep cascape, and it wasn't. anything with a yield got dumped. now you see guys going for safe tech, buying utilities. they're totally confused. so i don't know if i buy into this that we're going to stream higher from here. >> and that's consistent with what kevin was just saying as well. it's funny because a lot of people are saying look, we should be grateful. it means we're in a stock picker's market. the trouble is it seems to be the contrarian stock picker's market. it

steve grasso. what was

tim seymour, steve grasso, karen finerman and guy adami. it was an ugly day on wall street, right? the major indices across the board, with the nasdaq, the biggest loser. but we're going to start with the lose in the last hour on the bank stress test. kayla has more details for us. >> there was good, bad and ugly when we saw the banks release what they were giving back to share holders. we'll start with the good. a lot of the banks did pass the fed test with no objections of what they plan to give back to shareholders. bank of america is increasing its dividend to a nickel. goldman sachs, interestingly, was one in question with the federal reserve. it had to resubmit its plan because the original one it submitted, it would give back so much capital that it wouldn't pass the fed level. we got a vague statement from goldman after hours, saying our plan provides flexibility, but not what that capital plan would be and if it would change. jpmorgan, a slight bump to buybacks. we should note, that is very slight. morgan stanley doubled its dividend and announced a new buyback of shares,

tim seymour, brian kelly, steve grasso and dan nathan. the correction is coming. we heard warnings from some of wall street's top money managers. but no one seems to know when it will actually hit. the market showing resiliency today, with the dow coming back from a triple-digit deficit earlier in the session. investors can't sit around and wait for the pullback. what do you do with your money until then? it seems like people don't want to miss the rally. >> seems like every rally is the reluctant rally. to your point, clients feel as if everyone thinks we should be down 3% to 5%. everyone's waiting for this, i don't want to buy the top mentality. i want to scale back. i want to taper my portfolio myself. but it's every negative headline that's been out there. >> take a look. you enter the session today. you had geopolitical uncertainty in the ukraine. the data in shanghai. and we finished okay on the day. >> the numbers out of china were awful. you have to believe there was something wrong with these numbers. minus 18% on exports up 7 1/2%. we worried about china

jon and pete are here along with josh, steve grasso. the market is rebounding today on better than expected economic news but there are still very much digesting what we're calling the yellen surprise. a suggestion by the fed chair that rates may rise sooner rather than investors were anticipating. let's take it to the panel to see how to play this whole thing now. josh, what do you make of the markets reaction yesterday? snap back today but, boy, yesterday was swift and severe for a moment. >> yeah. it was definitely a bigger reaction than i would have expected. agree with you. it was only 60 basis points. in the grand scheme of things i don't think it changed the way anyone feels about the way the fed is slowly but surely getting out of the way. most interesting aspect that came out is the fact that interest rates, so let's put tapering aside for a minute. interest rates may start to go up a little bit earlier than what people were expecting. and i think you saw the reaction to that in the yield curve which kind of flattened out a lit

jon and pete najarian are here along with mike murphy and steve grasso. we're all waiting to hear what janet yellen has to say in her first news conference as chairman of the federal reserve. why it's expected that she will stay the course in the fed's tapering program. it is also possible, however that there could be some surprises for investors. so let's take it to the panel on that note. pete, you know, everybody expects there's going to be continue the road on the taper. what else is out there? >> not much. and the reason i say that, judge, is because i think janet yellen is as much transparency as anybody. i don't expect it to come out as anything whatsoever. i think her read on the economy is the most recent data points and as we approach this 2:00 meeting you're looking at a volatility index jump. only on the yesterday's gains for the most part. and i don't get that sense of nervousness that there is something out there right now. could she surprise us? i suppose she could. right now -- >> that's her major job is to stay consistent with what's goin

steve grasso is observing the show today. cheering us on. he said the other day that apple is an absolute sell. you came on the next day -- you thought he was on crack. >> i'd like to get him on the phone right now and duke it out. i don't get it, actually. i look at gross margin recovery. maybe what's going on. china, to me, is a lottery ticket. they do not need china. china is not in this valuation. china is just rolling out 4g. they need a lower price point. i said that all along. i think if you look at where we are, protecting the margin is something they've done. and they've done it so far. but the valuation does not say the stock's going down. it's not a broken company. >> i agree. i think it's more of a buy than a sell, even if you have to sit on it for a while before they do something exciting. really hard to get rid of a stock selling below ten-times earnings with all that cash. >>> coming up, asset allocation advice from the white house on russia. the story behind that is next. >>> and later, the real wolf of wall street is teachin

our traders are tim seymour, brian kelly, karen finerman and steve grasso. we have actress-turned stock picker, rachel fox. a 17-year-old trader who has been on shows like "desperate housewives" and "melissa & joey." >> that's the way b.k.'s photo looks. >> very nice. >> first to the top story here. we're on the brink of a historic moment in china. a solar company is facing the first corporate bond default because it cannot make an interest payment due friday. let's bring in michelle from the newsroom. what could the implications be, michelle? >> it's not that chinese corporations were such stellar performers. but the government used to step in or forced the underwriters to do the bailout. but after decades, it's led to a national case of national moral hazard. if this company is allowed to default, chaori solar, is allowed to default, it would enforce the motion that investors are going to get paid. when chinese investors learn that corporate bonds aren't 100% safe, are they going to run from them? one analyst believes yes. this could be china's bear stearn

tim seymour, brian kelly, steve grasso and dan nathan. the correction is coming.m some of wall street's top money managers. but no one seems to know when it will actually hit. the market showing resiliency today, with the dow coming back from a triple-digit deficit earlier in the session. investors can't sit around and wait for the pullback. what do you do with your money until then? it seems like people don't want to miss the rally. >> seems like every rally is the reluctant rally. to your point, clients feel as if everyone thinks we shoul

. >> i want to bring in steve grasso to the conversation, just off the floor.ake of the activity today? >> i think the last guest really hit it on the head. you really have to have the ability to stomach some risk to the downside here. in the last couple of months, kelly, i haven't seen investors think about what it would be like to take it on the chin when the market really starts to sell-off. this was the first week i actually felt some panic in the voices and not only the panic, but you started to hear guys saying, you know what? let's step away on the buy side and see how it reacts without us. i have not seen that in months. it's always been that buy the dip mentality. guys reaching for utilities. when was the last time you saw a guy reach for a utility stock? so obviously, you know, i'm long. i'm not really talking my book so to speak but i'm long s.o. i've been searching for yield. other people are looking for that. >> steve, let me say, if this is panic, then we're pretty spoiled. >> oh, definitely. when i say panic -- >> -- at 17 -- >> when you say pani

our traders are tim seymour, brian kelly, karen finerman and steve grasso.ike "desperate housewives" and "melissa & joey." >> that's the way b.k.'s photo looks. >> very nice. >> first to the top story here. we're on the brink of a historic moment in china. a solar company is

our traders are steve grasso, brian kelly, dan nathan and guy adami.king off the week in rally mode. there isn't a lot of conviction behind this move. the total trade and volume today, the second-lowest of the year. is all the drama over russia, china behind us or not? and the v.i.x. was down a lot. >> there's fear going into the weekend. people knew it was going to happen here. but in a way, i think equity investors kind of repositioned a little

tim seymour, steve grasso, karen finerman and guy adami. it was an ugly day on wall street, right?nasdaq, the biggest

jon and pete are here along with josh, steve grasso.