our traders are dan nathan, steve grasso, brian kelly and guy adami.ore than 12% t. dow down more than 300 points in one of its worst drops of the year. take a look at this the volatility index surge more than 25% today as investors pull up corporate protection. after hours movers were all over the

our traders are dan nathan, steve grasso, brian kelly and guy adami. the s&p, nasdaq, russell all down more than 12% t. dow down more than 300 points in one of its worst drops of the year. take a look at this the volatility index surge more than 25% today as investors pull up corporate protection. after hours movers were all over the breaking news from earnings tesla, gopro, expedia, linkedin, whether it will continue in tomorrow's session. groso, what did it feel like on the floor? >> there was no panic yet. few look at it, we didn't really have a tremendous sell-off yet. but it was just a mindset. we have that buy the dip mentality. i didn't see a lot of that going on. you could have taken your pick what the market was selling off on, was it europe? was it argentina? russia, young with the food scare. you could have taken anything, samsung, lufthansa. you had so much going on that if you were a seller, this was a great day to be bearish on the market. the key is, whenever you saw those downdrafts, those guys were still covering. i don't know who is a

i want to go to steve grasso, who's standing by there.his ts and dotted his is on the trading day. are you long going into the weekend? what are you expecting? what'd you think of this week, by the way? >> bill when sue just asked that question, it doesn't matter whether it's contagion or not, investors are looking for a reason to sell the marketplace. they got a couple reasons this week. and i think there, as the other gentleman said, we're waiting on bank earnings. i don't think anyone's getting crazy with what they're expecting next week, but you want to go to -- if energy starts to fail, for those stocks that have been outperforming, if they start to lose a little bit of their luster, you're going to see this whole market come in again. i think people would rather be selling this market than buying it at the levels we're at right now. >> chris, to rebecca's point about the fact that some of the big players are in all of the bank debt throughout europe, from spain and portugal all the way down to greece, because the search for yield, t

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. >> our traders tonight are dan nathan, steve grasso and guy adam my. dan, you made a bold trade that is paying off. >> i bought some stock. it didn't have a heck of a lot to do with what they were saying or doing tonight. it was a lot more so an hour ago. i think the fuse the revenue beat, again, he said it there. they were really where they shine are around events. we're just starting to see that i think on the deck, we have been talking about that since the start of the world cup in mid-june. here is an opportunity to showcase this amazing platform where billions of people, not yet, can communicate with each other. they are real time search during events. he has been saying this if we introduce one ad into a news feed, what does that mean per user. now they 270 million users a month. that can be $1. you do the math, you can see how exponentially this company can get to a billion dollars real quick. i'll say with a $23 million mark cap at the close of business today, it was a massively undervalued product when you think facebook paid $fine billion for

your traders are tim moore, steve grasso, a whipsaw day on the street. fears of contagion over portugal causing a sea of red. the markets end of the day recouping much of those losses, a solid reversal into the afternoon. small caps industrials and financials what happens to the sell-off? tim seymour? >> i tell you what, to me, it was less about portugal than positioning. yes, a catalyst, yes, still something on people's mind. complacency. i think we talked about it plenty of time with the lack of volatility in these markets. you look at espirancito santo. i think you are in a place where you have a lot of people that really didn't understand the situation, in fact, significant cross holdings. if you did the math, it was just discussed. i think if you look at where the markets are here, the s&p gave them handles. it's really where you want to go on positions that are under weight. we will talk about minors, the banks. these are places where you have a lot of upside. you have earnings moment item going into the second quarter. >> i think if you sold the m

. >> i want to bring in steve grasso, because grasso, at 41 points away from dow 17k? >> right. we are. probably the more you talk about it, probably we'll hit it. that's usually what happens. these levels are like magnets. we also have to remember. it's the russell overhang. right? or the hangover. we have 18 billion projected coming out of equities. the pressure on the market is lifted's where are rates going? probably lower. if rates are going lower, then you're going to see utilities even though they're lagging today, probably stronger in the back half of the year. the only rotation that i see, i'll pose it to joe. why be a buyer of energy now? >> you don't have to be. that's the point, steve. think about it one second. you know this is true. you work on the institutional side. today is all about mathematics. portfolio managers figuring out where their weightings are relative to where they are last quarter and where they should be, energy was up -- for the year up 13% i think. look at the sector. for the quarter, energy was up 12%. they already own it. they already were ther

. >> steve grasso. >> apple still long, you see the print above par, above 100 in the next week. >> karenmulus radio, a little movement back and forth. i like this right here. >> guy, you were off all last week, we missed you. >> liar. >> we did. >> all right. what was i going to say? >> i don't know. >> it's okay. >> mystery guest, we should do a web thing. >> a pool. >> a pool. i like that a web thing. wolverine reports tomorrow, triple ws. good, bad, >>> my in addition is -- >>> my mission is simple -- to make you money. i'm here to level the playing field for all investors. i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to kra mare ka. other people want to make friends. i'm just trying to make you money. my joshgs not just to entertain but teach you and coach you. so call me at 1-800-743-cnbc or tweet me @jimcramer. if this market were in grade school, where, by the way, it trul

your traders are tim moore, steve grasso, a whipsaw day on the street.ing a sea of red. the markets end of the day recouping much of those losses, a solid reversal into the afternoon. small caps industrials and financials what happens to the sell-off? tim seymour? >> i tell you what, to me, it was less about portugal than positioning. yes, a catalyst, yes, still something on people's mind. complacency. i think we talked about it plenty of time with the lack of volatility in these ma