steve grasso check please is next you should be mad at leaf blowers.ep] you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. but you're not mad, because you have e*trade which isn't complicated. their tools make trading quicker and simpler. so you can take on the markets with confidence. don't get mad. get e*trade and start trading today. don't get mad. weveryone, looknk isn'tat your phones. the design thinking, the digital engineering, security, blockchain, and we will be first to market! yes. when we do we launch? unfortunately, in 2 or 3, hours. why the delay? cognizant is helping banks use digital technologies at scale to advance speed to market. >>> check please >> watching shares of facebook here take a look at the intraday. we have learned from julia boorstin that facebook -- what did the stock do it went down fractionally and is still now up by 0.8% not much of a reaction here. that's key to see how it reacts to bad news. >> sticking with the social media theme, i went l

bounced back big since that christmas eve sell-off but is it about to run out of gas joining us is steve grasso what's your perspective on netflix, steve >> how are you doing, tyler? you just framed it properly there. the amount of sell-off, the only thing we didn't talk about is look at how much this stock has come in. so you're coming in from ultimately around $420 some odd dollars but let's look at 386 for just perspective on the name so if we go back to the 100% move it's 386. what do you get? here's the bottom. this is the bottom in the market then you see an outside day here, an outside reversal day. so you have a lower low, a higher high. so that reverses trend so we're up 40% basically from that bottom. what do the levels tell you? so this is where anyone who looks at retracements, you want to be a seller once we get to that bounce zone that's the 50% and the 618% retracement. look at where those levels are 309 to 327 that is your sell zone the stock currently is around $320 so maybe you have another 2% to the upside here for this first level. if it overshoots, you can go to 350. but i

>> steve grasso over there. >> that is a name that -- >> i thought you said the hulk >> that is a name that outperforms and it's kind of a sneaky airlines. everyone forgets about this one. they trade the marquee players this has been flying under radar, has really no effect with the government shutdown for this one. people sort of glide into this one. if you want profitability where if you think the airline will do well, this has higher beta and you get a little more leverage with this one versus the other name. >> do you like any of the transport names? >> i'm terrified of the airlines in general. >> personally getting on one >> no. actually owning them so tough business to be in fuel costs have come down. you would think that profits could increase but that's not the way it works instead they have to immediately pass all those savings on to the customer because it's such a highly competitive business. so no, not a big fan of the transportation stocks. >> i think the lack of balance in fedex and u.p.s. is troubling. i think we were talking about what does the bank rally mean for the b

our guest steve grasso you're here today.eah, that's good. >> almost as good as when he gets to join closing bell. >> but you actually have to go to work today. >> i do. >> he's director of institutional sales at stewart frankel, and a cnbc market analyst. you're not available in the middle of the day because you have a real job? >> i cannot. it's very difficult for me to -- >> i understand what you're saying >> very difficult. >> anyway, ladies, i want to make this simple we were for years in a buy the dip market, always made sense because it kept going higher any time you got a 5, even a 5% deal on the stock market or correction, whatever you want to call it, made sense to buy it. we got to a point where people were saying sell the rallies where are we now, sell the rallies or buy the dips? >> buy the dips. >> we are back to that are you sure >> yes we're positive that there are some opportunities in the market where i think we've seen a change is you're actually seeing a little bit of a shift in the market towards value ve

steve grasso other big market story today, bank earnings.organ stanley reporting a big miss sort of breaking that winning streak in terms of the stock moves. what are you watching in this report >> so as you said, they reported a messy quarter, both eps and revenue behind expectations. but the ceo james gorman said -- >> we do not believe the fourth quarter is a new normal. in fact, while it is early days, the first quarter started on a similar path to the start of the fourth quarter of 2018 >> the main disappointment was wealth management, close to 50% of that business revenue $4.1 billion behind forecast of $4.5 billion and the much watched pbt margin 24.4%. analysts were looking for 26.5%. but gorman reiterated 2019 full year targets here he is addressing client behavior in light of the recent market volatility. >> declines, move more money into cash, the answer is absolutely deposit numbers go up, cash levels are -- i don't want to say historic highs, but i don't have the full history, but as long as i've been doing this business, which

. >> you've been on it and steve grasso has been on it. they want to shore up the power business i want to win powerball tonight but probably won't that's kay steve tusa i believe made comments on the 29th i would anticipate him making comments again in the wake of this quarter my sense is he will reiterate his negative stance. so i think if you enjoyed this to the upside, you might have a little more but it's headed back down. >>> one trader is not betting the hype betting a million dollars ge will fall. >> options volume was off the charts today obviously the stock had a huge, huge gap higher after this recent consolidation four times average daily volume, the largest trade on the day shortly before noon when the stock was trading near 1050 was an opening by of the 9/8 put spreads. that breaks even down 15% at $8.91 on march expiration here here's the thing look at that chart these guys talked about this gap. there's a lot of overhead resistan resistance the stock did close 6% offits highs. it had a good morning and closed off its highs.

emerging markets are at the 200-day, mexico has underperformed check out mexico as a trade. >> steve grassoge is above $9 i'm still long the stock so we've had the analyst, steve tusa, has been all over this thing. he's been right thus far he got negative this week once again. i think once this stock breaks above $10, the personality change is complete, so stay long ge. >> paypal is down a few percent. the expectations were high get this in the mid-80s and that's where you want to buy it. >> it's a tough game out there, isn't it you zig when you zag, it's very difficult. you would this thing at the white pourboard. >> srpt had a big day. i think that stock will break out to the upside. >> that does it for us thanks for watching. see you back here moow atorrt 5 clongz for mor ♪ >>> my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey, i'm cramer welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to make you

joe kernen and wilfred frost andrew is out sick today our guest host for the next two hours is steve grassol, also an cnbc market analyst >> thanks. >> let's check out what's happening with the futures the dow is down by 25 points below fair value s&p futures down 5 1/2 nasdaq off by 19 yesterday we did see gains once again for the markets with the dow, the s&p, the nasdaq, the roussel 2000, dow transports, all up for their 5th sessi i

continue to lack the confidence they need to invest in the shares so they'll languish down here and steve grasso'sretty correct that it's binary. you think it's going to go bankrupt or you think it's a long-term buy here >> that's -- >> well, the whole thing is you're not looking at the numbers as you would a traditional stock on a day-to-day basis there's been so much that's been done that you're waiting for to be literally a power play the this point so it's reached peak pessimism and now you're seeing people say, okay, if we can get a little bit of momentum behind us, maybe we can have a little tail wind. >> but, jack, so if you get the regulatory stuff, this legacy stuff out of the way, i mean, that doesn't make powers' results any better, does it? what if power doesn't recover? or you figure it's cyclical and comes back >> well, it's a cyclical business but i think you could argue it's heading into secular decline and i think what larry culp needs to do is to give investors some confidence that we're at or near a bottom in the power business and that he's got a strategy to carry that business

sing >> it means you're out of here thank you, steve grasso. >>> coming up, we have more details on theent that just mapd. later, a report from venezuela ay tensions remain high. st tuned you're watching "squawk box" on cnbc comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. your but as you get older,hing. it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough in prevagen helps your brain and actually improves memory. the secret is an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier brain. better life. a place with one of the highest