i get that i like what we have here. >> steve grasso?to buy, it is what to sell. i think you take profits, hershey, sell it, for the last month, made a series of lower highs, lower lows. >> karen finerman? >> well, walgreens, they sold at $900 million stake in american amerisource, good for them, use that to pay down debt, it is a value stock with a high dividend >> brian kelly. >> for me, on down days like this, i look at my screen and what's green exxonmobil was green today the refining margin should be pretty good still. >> all right, thank you for watching "fast money." see you back here tomorrow at 5:00 "mad money" with jim cramer starts right now "mad money" with jim cramer starts right now. >>> 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. want to make friends, i'm trying to help you save money my job is not just to entertain but educate and p

. >> steve grasso. >> other than feeling bullish on all travel related stocks, hotels, airlines, cruises that's going to happen in the marketplace, if that happens, if the market sells off again, utilities are going to be a place where the investor runs to xlu. >> every single airline you buy. >> yes look at the charts >> that does it for us here on "fast money. do not go anywhere a very special pre memorial weekend options action is up next thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab. >>> it is friday and that means it's time for options action the markets capping off a comeback week today. the best week since nove

brian kelly, steve grasso, tim seymour, and jeff mill let's get to it. the dow down more than 1100 point, the worst loss since june 2020 the consumer sector seeing the most pang, target dropping nearly 25% losing a quarter of its value in a single day, marking its worst day since october 19th, 1987 remember that date that's black monday. apple dropping more than 5.5, amazon down more than 7% it's just a stone's throw away from leaving the trillion dollar club does today's sell-off just show how vulnerable the markets are, maybe how vulnerable the consumer is? since we're talking about the biggest drop since black monday, brian kelly, does this make sense about what we're being told about the economy, the balance sheet is in great shape, wage growth is there. >> but the market is telling you that that's going to change, right? everything you just mention are backward-looking indicators. the market is saying hey, wait a second look at what the earnings were blamed on. supply chain issues from china, blamed on the war in ukraine i haven't seen a single comp

. >> thank you i like the earnings growth metric, steve grasso, because do we know -- >> what earningsgs estimates should be particularly for a space like this that includes the likes of mortgage lenders >> yeah. 100% specifically with sofi, all of these companies have been painted with the same brush. if you're a growth company, you don't have any earnings or if your cost of capital is going to increase, but you know what's interesting, if you look at paypal, it's down 55% year-to-date that's one with deep pockets so it's almost as if they don't like the space as a whole and not just where you are on the market cap scale, but i would still be a buyer of sofi just on a technical basis. this thing is way, way oversold still. >> to me, sofi, it's come in a lot for sure, but i still think that that disconnect between old line banks that make money and get a very low pe and you know, a new bank or a sofi or lots of others, have just a wildly different set of metrics that ultimately, i don't understand how that discrepancy can maintain that kind of giant chasm. >> so the old time banks are

. >> he's the most bearish on the desk steve grasso. >> that sounded bearish. i look at the housing market and the price appreciation over last two years and i see a bubble that may not have the same underpinnings from the financial crisis, but there is no question that there is speculation in the housing market there is no question that there is speculation in commercial real estate. an this is kind of stuff that i don't think we've seen the impact you can't have that kind of a move in -- in rates with levered entities without there being some problems. we've said it on this desk now for three months we're waiting for the bodies to float to the surface because you can't avoid this there will be whales coming up. >> and let's say for the housing market, at what mortgage rate will you slow down that market when there is already pent up demand and lowe inventory. there are other issues than just the broader economy that are specific to this industry. so is 6% the magic number where you slow the market down. >> mortgage apps and refi have come down. you look at pe

the dow is off at 1122 i believe it was steve grasso could see a low in the 3800 enabled, 3850 for the s&p. the nasdaq off 4.5%. this is getting to be, kelly, a somewhat familiar story with nasdaq down 560. transports, the worst day since june of 2020 we remember what was going on in june of 2020 nothing, honestly. big cap tech selling off amazon down 7% apple down 6%. kelly, they're taking my apple, they're taking my amazon, they're taking my walmart. target and walmart getting punished higher costs are eating into profits. there are bright spots always are as jim cramer says, there's a bull market somewhere. verizon is higher. verizon up two-thirds of a percent. draft kings and ea, top performer in the nasdaq. ea, electronic arts. my son plays a lot of games. >> he's single-handedly holding up the market. >> he's a player for more on the market sell-off let's bring in our friend the market veteran art cashin at ubs financial services how have you been? >> well, i've been okay. this is an interesting day you might take me with a grain of salt, tyler i wrote this morning i thought it w