so this is the dollar index, dollar versus the basket versus the dow over ten years. not perfect, larry kudlow, but there does seem to be an inverse relationship. is a strong dollar negative for the dow? >> is the dollar the green line? >> the dollar is the green line. >> it looks pretty steady to me. >> well, yeah. unfortunately that chart sort of flatten out. >> down about 6.5%. >> if you go into it a little deeper you can see the moves more volatile. >> once that blue moon. once in a blue moon a falling dollar helps erase deflationary fears. we're got a lot of deflationary fears. 2008, 2009, 2010, 2012011. the bottom of the dollar however august 2011. and the stock market's gone up 70% since then. go back to the 50s, i hate to pull this but i was here. 50s and 60s the dollar was steady tied to gold. 80s and 90s the dollar was basically firm particularly in the 90s, huge stock market gain. dollar holds down inflation and attracts investment. >> and certainly nothing works in a vacuum, right? we can't necessarily say strong dollar equals weak stocks or strong dollar c

when we saw the dollar rise. so certainly if we continue to see that, you'll see commodities weaken. what concerns me, however, is take a look at supply in all of these areas, even from sugar, the increases to supply and the weakening of the foreign currencies tells me that demand globally is sort of weakening here. one other concern for commodity prices. what's good is bad for commodities and what's good for the dollar is also bad for commodities. there's a lot of negativity out there and you got to be careful buying into oil or whatever and what-not right now. >> for more on futures, check out the live show at 1:00 p.m. futuresnow.cnbc.com. we're also speaking to citi's top technician where the euro goes from here. check it out online. >> we will, thank you so much. >>> coming up, #shoppinglist, now that twitter is getting big money to work with, how should the company spend it? is there a deal in twitter's future? the traders make their predictions. >>> and mike murphy's money-maker could help to keep your data

it's about the dollar. as the dollar rises, gold tends to weaken.the massive rally in the greenback has been a serious headwind fore bullion. >> thank you so much. and carter, to you for the chart look. because we have seen a massive rally in the dxi. the biggest gain since november, we are seeing a reaction in the commodity markets. >> that's the opportunity here, to take the other side of this in the sense that it is a massive rally in the dollar, unexpected, just like the huge bump up of rates on the ten-year. we think it's overdone, and you can catch a fade or a pop in gold. here is the gold etf. and, of course, this massive wipeout is a function of this huge move in the dollar. okay? very clear. gold down, dollar up. longer term pictures here of the dollar. i'm going to switch to red to highlight this. this is the dollar. this is the move that we've just seen. we are simply at the top of a range. you never in principle exceed a range when you first get there. in order to break out from a range, you have to coil more off than not. so our premise

i don't know what the dollar will buy. so i think the most important thing from investors is to be aware of what is going to happen and make sure your financial assets are invested in the appropriate manner to come through this. and i think even more importantly then maybe even preserving the wealth for yourself and for your family but i do believe if we are going to try to be active personally in helping to repair and rebuild the country and helping to make sure that after this crisis, that is coming, and i will get to that and it will be much worse in just about every respect then 2008, it is going to be the worst economic period i think in the united states bar none including the great depression. it will not be as bad as the civil war or something like that. but as far as an economic event it is going to be bad for investors. the majority of the investors will see it is going to be very bad. but i think the only opportunity, this silver lining to that cloud is the opportunity to really get the country back in the right

stock prices really been bianuccied by the rise in the dollar. the u.s. currency is hitting fresh six-year highs in the wake of the fed's policy statement. pretty positive start here. >> where is the dollar trading now against other major currencies? >> let's have a look. >> that's keenly watched currency pair. six-year high against the yen has rallied against other currencies including the euro. the british pound has however bournsed back a touch following recent lows against the dollar. the results of the vote on independence is going to be a big focus for global currency markets. now, in case of a no vote, an analyst i spoke to this morning expects trader to buy the pound sterling against the dollar and no vote means less disruption to the overall british economy than a yes vote according to him. it will also be focusing on shares of mobile phone carriers in japan as today, we see the release of the latest iphone 6 lineup of products and i know we're going to have more court and jury. china's biggest retail website initial public offering has been pric

so eventually if you keep doing that you destroyed the dollar. now at some point the fed is going to maybe have a decision where it could still say the currency but it's probably going to lose a lot of value for the fed is going to, even consider the unthinkable so maybe the dollars going to lose 50% of its value, 60% of its value, 70% of its value. the dollar lost 7% of its value in the 1970s and volcker did put a stop to it. he brought interest rates up to 20%. that stopped it and reagan did come in and we did have some substandard changes in the governing of philosophy. not enough but enough to stop the bleeding but it's not like you know volcker thought 20% interest rates are going to be fun. he knew that it would be difficult but the country survived it. obviously we can't survive it now. we don't have the balance sheet to afford 20%. we can't even afford 5%. i don't even know if we can afford 1%. i think it's still zero, right? but at some point when the dollar loses enough of its value then the federal reserve will have to decide are we goi

the top line is dollar. e best run since 2008 and that trumps everything in terms of stocks and technology. and your scorecard is the most positive. tell us about that and why are you so convinced there is dollar -- the dollar strength is a plus. world,ou look around the the japanese are printing money and the ecb is on the verge of printing money. raisingis on the way to interest rates. that is such a big convergence, that is what is driving the dollar strength. that is good news for the world economy. the dollar strength means euro weakness. avoidps europe to do deflation. the u.s. wants to avoid inflation. dollar strength should take some of the heat out what would be a bigger rise in inflation. this is the longest ever. >> we have had a fed government -- evan are warned about -- the fed government warn about the risks of a strong dollar. >> you have a record long position in dollars. people are very long the dollar and that suggests taking money off in the short term but the fundamentals are in favor of t

is tied to fed policy, tied to the u.s. dollarscommodate, buy hong kong, ewh. >> ah. guy adami? >> everything traded on the cmself. moving, the stock higher, kevin battling an insid i don'ts disease, kevin rooney watching the show a long time, thinking about you, happy birthday, brother. >> come to visit many time, happy birthday, enjoy. i'm melissa lee. thanks so much for watching. see you back here tomorrow at 5:00 for more "fast." don't go >>> 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. i promise to help you find it. "mad money" starts now. i'm cramer. welcome to mad money. do you want to make friends? i'm trying to save you money. my job is to educate you and teach. call me or tweet me. news flash, the federal reserve is run by intelligent people who make judgments

the dollar. > have a great weekend, everybody. we have 50 minutes. the s&p 500 off about 15 and the nasdaq 29. >>> when we come back, a lot of buzz about this call this week. craig johnson saying two years ago that the s&p would hit 200. it happened within five days of his prediction. parachuting out 20,000 feet and hitting the mark there. now he says 2015 could see a break to 2350. >> we'll talk to him about that and later more talk from the banks about just when interest rates will rise. we'll tally up who's seeing what, try to figure out what it means for janet yellen to pull the trigger. >>> forget the critics saying that the iphone 6 plus is too big. apparently it's actually too popular. you can't get one unless you're willing to wait a month. we'll have that story still to come on the closing bell. when change is in the air you see things in a whole new way. it's in this spirit that ing u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what'

look at the dollar-yen, that says everything. an say what's going on with the year row is weakening trade, and we can say the qe and all the things japan's doing are hurting their currency, but, boy, we are on the brink. we really are on the brink of levels not seen since object of 2008. very close. the dollar index, which, of course, is highly, highly attributable to the euro trade, it's hovering at the highest in 13-plus months. back to you. >> thank you. >>> nike wins a war keeping kevin durant. a big splash of their own this morning, who they just signed moments ago. also ahead, what a mobile wall let in the iphone 6 affects apple and how the icloud hack may affect the stock when "squawk on the street" continues. you probably know xerox as the company that's all about printing. but did you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in

this is the dollar. this is the move that we've just seen. we're simply at the top of a range.ou never in principal exceed a range when you first get there. in order to break out from a range you have to coil more often than not. our premise here is having reached the top of the range there's dollars pricing quite a bit of what is coming and then we'll start to back and fill. take a look at this picture here. that's our same lines if you will but here it is also another way. the rally of the dollar leaves you at a very difficult level and the presumption is that the rally will stop here for now on an intermediate basis which means that gold has the potential to pull this. so we're looking for the gld to move up 8 or 9% and close at 115. >> 8 or 9% move on the gld. what's your trade? >> i think the simple way to do this. i've never been a gold bug and this is -- going this way is a little bit counter of what we were talking about earlier if you use options sometimes you can get a little leverage. i'm looking at the december 127 call spread. you can pay $1.55 for that and it can

followed the dollar. just might surprise you. and it's been a rough month for elan musk. a look at the money he's lost later on. when change is in the air you see things in a whole new way. it's in this spirit that ing u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what's possible when you get things organized. ing u.s. is now voya. changing the way you think of retirement. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. centurylink your link to what's next. who's going to make it happen? discover a new energy source. turn ocean waves into power. design cars that capture their emissions. build bridges that fix themselves. get more clea

something at the money, give yourself 90 days. >> in terms of dollar yen, what do you see? x-year high against the yen. >> these moves, all of which has been fairly aggressive, it's better to go for reversion, not do what the tweet is asking to do -- >> use calls to do it. if it does revert, you'll risk much less. >> beware 007. >> if you have utilities, i wouldn't quite get panicked yet. stick with my xlu. if you have the stomach for it, try a little gld on the long side. >> nathan? >> on the xlu, you are a trader and looking for opportunities and good setups, the action there really speaks to something that could be a continuing trend. i like this trade that i put on, you're defined risk and risking less than a couple of percent to make magnitude. >> your point, trying to short -- the smart thing to do with home depot with a completely different story is out. >> go to our website, optionsactions.cnbc.com. have a great night. ♪ >> a better back and a better body. since 1981 that has been my passion. i created teeter hang ups so people could live healthier, more active lives

let's talk about the dollar. how fundamental is a strong dollar in your story? are pretty much taking both the euro-dollar and dollar-yen forecasts -- the dollar is the key here. of course, the expectation in the market is that we are going to see rate and beginning around next year. the scope of the short end of the curve is considerable. pricing,on market there is that substantial gap. that gap is probably not as big as what the dots are telling us. the voters next year are different from last week. >> and the hawks are and voting next year. >> absolutely. lockhart was an interesting one. he is not as easily pigeonholed as some of the other presidents. his comments yesterday would suggest that he is leaning more towards a little bit later than the middle of next year. some of the other presidents seem to be that way as well. the idea that we are going with the middle of next year is perhaps not correct. the scale of dollar appreciation we had of late, there is some prospect for that reversing to some degree. thebroader picture is dollar gains further. 1.20, the

the yen is down 7% versus the dollar. " taking a crack at not just currency effects, but demand/creation expense, mainly the endorsement deals and how much more expensive that is getting. up 36% in fiscal 2014. >> to what do they attribute that? what the market will bear. >> and the added complication having to cut deals with ray rice, with adrian peterson with osc oscar pistorius. >> and disney, rights to make character toys, which mass he'll has. hasbro had a nice pop yesterday. today new york "post" had a character of barbie crying as they lost that deal. >> investors who want to play the space because of the strength relatively against mattel. mattel has been going through a transformational shift. every single earnings call the company has, they have to address this. >> did you see the upgrade from tiffany? they say there is a misconception that tiffany fully recovered from the recession. they say if you look at the comp increases, it's all about the pricing. unit sales in this country, they say, are 30% still below t

the fed has been laying on the u.s. dollar index. just like i used to lay out an all you can eat food buffet. but the velocity the move in the rates when they get hiked will be ferocious. the treasury pits and u.s. dollar saying something. equity markets saying something else. >> scotland's vote, what impact does that have? >> what i eat probably going to have on the dollars going on relative i muted because it is probably going to be a no. there are a lot of people who keep discounting it like it has a zero possibility. doesn't have a zero possibility. i think polling is a lot more difficult now than it has been in the past and i think there is definitely a 10% chance this thing comes out as a yes. and i think if it does the dollar could scream higher. >> we'll certainly be watching. in the meantime join us for the online show where we'll be talking to deustche bank's expert to get his take on scotland and also one is going to join us and tell us why he shis it may be a shocking time for the nasdaq. >> jackie. thanks. you asked jim o

is down 10% in the u.s. dollar in this quarter and the euro is down 6% against the u.s. dollar during this quarter, you'd think they'd see it in the earnings when they report. >> we'll see. the encouraging thing if you're bullish, the market had every opportunity to wash out today. s&p down 18. you could have made an easy argument the weakness would have continue. the s&p continues to hold that level that we flagged, 1,970. that and transports unchanged to slightly higher on the day. the russell was nowhere today. if you're bullish you are encouraged by the fact that we seemingly continue to hold critical support levels. >> are you? >> no. i still think the bond market wants to go higher. you have to respect the price action and the s&p was strong. >> volatility is up 30% from the lows. i think over all yore the market it is going higher. you have payroll numbers on friday. spanish bonds under pressure because of a vote. pimco noise, just noise to be clear, but markets are looking for reasons right now to be nervou

index, you can see the strength in the dollar that we are hitting, the yen's going down against the llar, the euro going down, that's been a problem for commodities, and if we get some stabilization in the dollar, i think we will get a little more stabilization in the overall commodity market. meantime, big oil stocks generally to the downside today. a lot of them have turned around in the middle of the day though as oil turned around, most of the names down 4 or 5% for the month overall. take a look at a name like a whiting, the shale plays, they have been hit very, very hard this month. that turned around, too. a lot of these companies, these shale plays don't make a lot of sense if oil goes to the $80 range, but i bet you guys that's not gonna happen, a little stabilization in the dollar, already see people picking at these stocks because they have been down so much in the last two weeks or so. back to you. >> all right, bob, thanks very much. see you a little bit later, ten minutes left in the trading session here, the dow down 25, the s & p and the nasdaq have turned positive he

there is the dollar index. let's go down to sara. >> people are asking with the strong dollar could it kill off the economic recovery? in fact, when you worry about the strong dollar you worry about exports, in particular, which, as you can see have been solid and there is a correlation, a negative one. history shows us that a strong dollar does hurt american products sold abroad. they become less competitive. you can see the spike on the green in the middle the dollar strengthened during the financial crisis. exports actually fell off a clip. people were pouring into the safe haven u.s. dollar there. ekaconomists expect the u.s. dollar to start to hurt exports. on the flip side when you have a strong dollar you have more purchasing power for imports from abroad. let's face it, we are a predominantly consumer-driven economy in the u.s. more buying power for the american consumer. that does offset pain you can see. while strong dollar can hurt it is not a game changer. renaissance macro put out a note. exports an

the key thing, too, is the dollar has been stable. that's what happened in the 1980s. another thing we should look at is stepping up approval of licenses to export natural gas. liquefied natural gas. that would knock his power down, into you western europe is now dependent on russian gas. if we were exporting cheap gas, that would take away significant, a strong dollar, increased production, we could do a lot of things to anything oil production here in the u.s.? >> david, unless we do more of what reagan did, the impact of what you just said is going to be very marginal. if we saided to feed isis and put putin in retreat we would have to build up our military, which this president has completely undercut. >> but one of to start somewhere. >> energy is the weapon in the arsenal that we can use. look at what happen. john, tammy and steve are absolutely right. it left gorbachev scrambling at the end. we've had seer turmoil in the middle east, oil goes down. turmoil in venezuela every time oil goes down. the reason why putin is in the ukraine is the big gas and oil reserv

dow down 238 and the dollar is continuing to march higher. hitting 14-month highs, a strong greenback could have major ramifications for big cap stocks that do the business overseas. how do you play a strong dollar and the possibility of rates rising sooner rather than expected? joining us now is phil orlando, chief strategist on the floor of the new york stock exchange with me. and katie nixon, welcoming her back, chief investment officer for northern trust wealth management. phil, i'm going to start with you. before the dollar specifically, what do you make of today's selloff and the volatility between yesterday up almost 200 points and now we're off better than 200. >> i. >> i'm going to discount the volatility because of the holiday. any kind of movement can be exaggerated up or down on this kind of a holiday. >> yeah. overall, do you still like the market? i know that some places are a little bit stretched and other places still have value. >> we remain constructive. we have a 2100 forecast on the s&p all year. sticking to that number. th

the dollar's continuing its upward march. i yuch has that and other stories. >> they're feeling good about the american economy, it is growing at a faster pace than the euro zone and japan and many believe that the federal reserve will raise interest rates earlier than expected and want the better returns. the dollar is now very close to six-year highs against the yen. it's also stronger against other major currencies, as well. ramin mellen guard has this and more. what can you tell us? >> the weaker yen against the dollar fee chured so prominently in the rise in the nikkei that we have seen so far and we are also seeing a diver intelligence in bond yields between u.s., german and japanese government bonds. as you can see, coming up there, that of course makes the dollar more attractive investment than the euro or the yen. let's also have a look at the currency levels, as well, as tokyo trading kicks off here. top of the screen is dollar-yen. 106.78-80. euro-dollar 1.2918 and euro-yen, 137.93. we'll be keeping track of where t

the u.s. aussie -- dollar paring. a big move again in the ausssy/dollar paring. own around 0.34% since the 5th of september. big move in that pair, 0.881 at the moment. >> of course, weakness in china, that has had an impact on the aussie/dollar. that is going to be getting a lot of attention, not just from investors. with the euro trading at 22-month low, let's take a look at the u.s. premarket trade. pointing to the downside after what was a rebound in the u.s. market, we had dovish commentary from a couple of fed officials as well as better than expected housing data that brought the bulls back into the market. remember, three days of losses for the dow, nasdaq and s&p 500. yesterday, though, was a positive day driven by that better than expected data. but right now, futures pointing to a lower open. carolin. >> let's give you a rundown of what to watch this trading day. weekly jobless claims are out at 8:30 eastern. forecast to rise 299,000 along with durable goods for august, which economists are expecting to fall 18%. we'll get the latest figures from the pu

the british pound is still at ten-month lows against the dollar. we'll keep track of all those developments, and i'll have more updates in a couple of hours. but for now, the nikkei and topix trading in the positive. back to you, ai. >> ramin, i'll talk to you in a few hours. >>> japan's prime minister shinzo abe will carefully consider the country's economic conditions before he decides by the end of this year on a consumption tax hike. the higher tax is planned in october next year, taking it from the current 8% to 10%. abe spoke at a meeting of the government's council on economic and fiscal policy, which was held for the first time since his cabinet reshuffle. he said he needs to see whether japan's economy can get back on a growth track in the july-to-september quarter before he makes a decision on the tax hike. he said there is a risk that private sector demand might plummet due to weaker consumer sentiment. higher prices of gasoline and electricity are negative abe also said the positive economic cycle can be kept going by boosting wages, in

the dollar has become an issue for the fed.were never concerned about it but now they have to be. reason why iother think 2016 looks like it is going to be the date they are going to hike. >> i want to get your take on bill gross and his departure from pimco. that came up,ics i believe tom keene brought it up as a question, has the fed in some way forced his hand? in other words, in this low interest rate environment is it increasingly tough for fixed income managers, especially one of bill gross's size, to get the returns that they had in the past year? should we blame janet yellen for his underperformance? ai think that is a bit of reach. the low interest rate environment affects everyone. ng to't see anyone wanti leave vanguard or fidelity. what you are saying about the low interest rate environment and that is changing the way fixed income is being viewed. theses why we are getting unconstrained funds being popular, because they have the ability to go short in case there is a rising rate environment. i think what is happeni

we are basically up 1% against the dollar. on the bond market we are seeing how the united kingdom has opened its morning. the yield is trading higher. not sure if that has fully updated yet. market,ok at the stock certain key movers. rbs up almost 4%. this is the fact that they no longer need to move their headquarters. that could have cost them one billion pounds. getting extracted and money going back into these equities. aberdeen asset management trading up 1.3%. but stick a quick look at standard life. 8000 staff, their headquarters were in scotland. vote, we're group -- weir group up 2.5%. a big relief for them. we will speak to the chief executive. sap likely to open downwards. spending $7tly billion on a company called concur. let me take you back up to edinburgh. has been covering the story from there. a misty morning in london and edinburgh. give us the breakdown. give us the numbers. >> 55% for the nose is the final result. fromve inferred -- heard one of the counting regions. at this time it did 5% of the votes have

the gdp and i simply don't talk. very large number. billions of dollarsear it's going to be 4 or 5% or something, we know it was so weak in the first quarter of the year that the question just simply boils down to how strong is the recovery and what is the fed's next move here? >> the fed is the most curious position. is it in charge of so many things in our daily lives, kelly, it taken upon the duty of keeping us stable, the stock market going up and it simply is implausible it can do all these things. i think the question about inflation is one that's front and center in our markets. the central bankers are talking about if, if would you pardon the expression, the five-year, five-year inflation rate. >> so glad you're bringing this up. >> that's how the central bank, certainly the european central bank is preokayed by this number. that is inflation rate getting five years for now and extending five years. kelly, say we were sitting here 100 years agoing, you and i living in germany, we are living large, first world war not yet begun, you ask me, because

people pour into the u.s. dollar. we're still the reserve currency. we're still currency of choice, that safe money wants to hide out there. so they will hide in the dollar. now as the dollar gains strength, because all commodities are benchmarked against the dollar, they begin to lose value, because more dollars buy less commodities. less dollars buy more commodities. it changes dynamics of how the commodities are trading. so we're seeing some lower commodity prices, gold has been under pressure for the last couple days. silver, grain markets. we've seen the dollar. stronger dollar created. the dollar more after safe haven for fear trade, people want to put the money if they're afraid what is going on further. liz: we don't want people's eyes to start going cuckoo, i don't need to know anything about a carry trade or i don't know anything about a long one currency, short another, but steve englander, that is kind of why you're here. there are opportunities, if you borrow one currency to buy currencies elsewhere with better return rates. what do you t

the damage? zealand dollar lunches. iscussed what is driving down the new zealand dollar and much more after the break. ♪ >> welcome back. foreign exchange rate is looking. let's take a look. the central bank confirmed they were in the market over the summer. we broke 70. haven't done that since august 2013. some talk about the price of iron ore being under pressure. some stop losses went off. dollar is on the best year since 2000 and eight. the traders are long as long can be. that is the state of play on the let's turn our attention to a man who can tell us a little more about the market. he is live from hsbc. dollar is on a turn. the kiwis are on the market. it is all moving. is the biggest mover? is it sterling? is it qe? what do we do? >> you go with the trend on the dollar. i think the euro is a good candidate. i think mario draghi is going to keep wanting to talk the euro. every bank is talking their currency. i think draghi has got to remain in that club. impetus.e new >> what about that having a slight effect on

yen also on the move. dollarength comes through the most in dollar-yen where you are seeing the bank of japan that itabout, warning is moving. they cut their economic assessment the first time in nine months. let's switch gears. scotland will remain part of the united kingdom. at last count, 55% of voters supported the no campaign. 45% backing an independent scotland. turnout in some regions was 90%. scottish national party leader alex salmond has accepted defeat. congress has passed president obama's plan to arm and train syrian rebels and this comes less than seven weeks before the november midterm election shortly after obama spoke from the white house thinking congress. >> we continue to build a broad international coalition to degrade and ultimately destroy the terrorist group known as isil. >> goldman sachs chief executive lloyd blankfein has been speaking to bloomberg. he says there are some reforms he would like to see in washington. >> from this point forward, get news issues. we need to heal the economy

the aussie dollar falling. a journey of 1000 miles and then some. ibaba taking the roadshow to hong kong. with china's for your growth target once again under threat, we got new data over the weekend showing a continued slowdown. of it over to stephen engle in beijing with the latest. a very good morning to you. what are the numbers telling us? >> you said it. the economic indicators from the weekend and generally from the that 7.5%ths, missing growth target for the full year. does that really matter? i will get into it. his options have definitely narrowed, stimulate, or you are probably going to miss that target. we have the weakest growth since the global financial crisis and the data released over the weekend. fixed assets investment, retail sales also moderated. we saw the second straight decline in imports, a 40% drop in the aggregate financing. the numbers are not necessarily looking good for the program of cap. helen xiao at morgan stanley -- this isimportant an apartment wake-up call. slowdown, engineered or is this happening a bit faster th

so in essence the dollar doesn't concern me. and it's preserved in the current monetary policy environment. >> paul we'll talk to you soon. >> all right. >> you raised the question. and you can frame it another way. whether people are being too complacent with what's taking place in the world, whether people are too bullish, or not bullish enough. >> how many times have we heard there is a lot of cash on the side lines. so we are also hearing how many are missed this run to the upside and we're hearing about the bulls pulling back. >> and bearing rolling over. >> and the reason they are rolling over is because they have been wrong for 500 points now in the s&p. and they are wrong for some times 700 points in the s&p. any case, if you have positions in the market right now you buy protection at low levels like we talked about time and time again. if you are negative on the market, if you are a true bear you got to get out of your positions and then own some puts. but if the market is going higher you protect. >> no one believes --

pfizer's going higher. >> i still like the u.s. dollart fortnight, you want to lighten up. >> how many weeks would that be? >> two weeks. two weeks if you're on the metric system. >> dow chemical. bought it today. >> guy? >> want to watch the giant game? >> no. >> 8:30. >> vertex! remember robyn was here. she's right about this stock, by the way. on my left. >> to your left. >> i'm melissa lee. thanks for watching. we'll see you back here at 5:00 for more "fast." keep it tuned here. you'll want to hear jim cramer, especially after today's selloff. "mad money" starts right now. >>> my mission is simple, on make you money. i'm here on 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 try to make friends and i'm here to educate you. up day down day, flat day. investing can be a lot like comedy in both disciplines, timing is everything. ♪

have a look at the euro/dollar to 1.275-to 2776. the survey that i mentioned came in at its lowest in more than a year. and traders saw that as a signal to sell the single currency. they are anticipating further moves by the ecb that will put even more selling pressure on the euro. on the flip side according to an fx analyst i spoke to the opposite is happening in the u.s. looking at the dollar/yen 109.28-30. he said investors are rushing in to buy the dollar on the prospect of rising interest rates and generally supportive economic data in the u.s. as opposed to the euro zone which is going the other way. the dollar is at multiyear highs against other currencies including the yen. we'll monitor asian indexes and we saw the shanghai index rising 1.5% on wednesday the highest close in more than a year and a half. so, we'll continue to track those markets as well. but for now, that's all for me. back to you. >> all right, thanks a lot for that update. >>> ministers from japan and the u.s. could not narrow their differences for a free t

economy strengthening, the dollar has a double edged southward to it. you have european markets that may come back into the u.s. market because they're going to get the currency at their back like we've had for years. and interest rates may not go um as fast when the fed starts to raise rates because institutional investors and insurance companies in europe are, again, going to get that dollar at their backs. so i think we're going to be in this trading range for a while. >> paul, you seem to think that even the slightest pullback is usually a buying opportunity. and that is usually true in a market that's going to -- you know, that's sort of in the middle innings of a bull run because it never gives anyone the opportunity to get a 10% discount on what's eventually headed higher. but the worry -- the worry is that a lot of this is just, you know, maybe even kind of an asset bubble or a -- i won't say bubble, but appreciated asset orchestrated by the fed. and if it's not really -- there's not anything fundamental underpinning the move. but you still think

sanos, the greenback, the u.s. dollarsilience of the dollar catching the attention of traders. do you think it can continue to move higher? >> most likely, yes. there are a number of factors that have come together to support the dollar. is this divergence, not only with the ecb starting in policies, but gradually the tone of the fed changing and preparing the markets for tightening lood looking forward. the market did not keep the position so gaully gets to become long positions in the u.s. dollar and particularly against -- there is still room to increase the dollar position. the other thing we have seen since may, we have seen a sharp flowing of equity flows into the eurozone. >> earlier in the year, we got some weakness. on the eurozone, on the other hand, we have seen surprises. and clearly -- so both of these factors develop and once we have some geopolitical -- you cannot use the supported dollar. >> and on thursday, b of course, we have the ecb meeting. we're expecting more color on the abs purchases taking place

>> i think the dollar rising is probably the surprise of the year for portfolio imagers. f quantitative easing. >> we stopped printing money. everyone else is printing money. >> if you have a low interest rate in germany, that is still high quality paper, relatively. >> what we have is the date. five days to october. >> it is one of those things that work right up to the time. i will not think on that. we do have problems. the s&p 500 in large-cap names, this is where everyone is hiding. i do not know whether this is the beginning of a tent percent correction or not. nothing else is working. literally, nothing. stuart: hold hands with our audience. these are small investors. they have money in the market. they are thinking, should i sell now? should i just sell now? that is a knee-jerk reaction. a big institutional program. those are the same guys that will be buying it on an up day. >> they will not tell today and buy back -- >> and you really should not. you need to have some sort of allocation that will help you ride through the storm. stuart: you are laughing because y

you may recall the dollar general raised the bid to $80 in cash and willing to divest as many as 1500press release this morning, family dollar comes back and says, we don't think 1500 is still enough. we remind you as well that, yeah, you can keep saying that all you want to do is open up a dialogue with us, get an opportunity to talk to us, but while our agreement with dollar tree permits those kinds of discussions with competing bidders, it's only if it's reasonably expected to lead to a proposal that is not only financially superior, which, in this case, it is, 80 against the 74.50 and stock in the current deal, but reasonably likely to be completed on terms proposed, and that's where the companies diverge in the opinions about the antitrust risk of said deal. with family dollar and board of directors with the belief that the federal trade commission would argue it needs to divest thousands of stores, and as i said, of course, dollar general believing that 700, and speaking to the ceo of the country this week would be enough to do the job or less prepared to go to 1500. in the pres

. >> the u.s. dollar has moved quite a ways compared to the aussie dollar. they have also got huge amounts of natural resources for relatively a small population n that being an asset-backed security. so hasn't it fallen already? >> yes, i think there's still a price decline likely. and the key determination is for them to be looking fairly negative right now. >> everyone is talking about the dollar, but i don't want to talk about that but the swiss frank. last week we saw the verbal mention of potentially negative interest rates. do you think that will actually happen, or will it just stay with verbal intervention or will we get the preemptive strike? >> i think it is more than verbal intervention. within the last ten days, i will see it get to the 1.20 floor that was very brief for a few moments in the market. i think they will be more than verbal but will be pushing up the euro swiss and the dollar swiss higher. of course, the negative rate is something they can do. it is a last resort. i think they only do it as the floor is broken. as long as the floor

>> having a look at the dollar/yen now and it's moved a little bit higher, 105 now, 105.17-22. we've seen the yen weaken even further for when stocks closed for trading here on tuesday. the pair back to levels last seen earlier this year, in fact, and the euro has dipped to one-year lows ahead of thursday's european central bank policy meeting, market players will be waiting to hear whether president mario draghi comes out with measures to reverse the slowing growth rate in the eurozone. investors around the world will also be watching out for the august payroll numbers due out on friday in the u.s. for further signs of any economic recovery or whether it's on track in the u.s. that's going to be a big focus as well but the nikkei and the topix well into the positive here so far. back to you. >> all right, ramin, thanks a lot for that update. ramin mellegard there from the tokyo stock exchange. >>> and one last story before i go, japan's three major brewers have launched new beer-flavored alcoholic drinks for health-conscious consumers they contain almost no purine, a chemical c

i don't know what the dollar will buy. i think the most important thing from investors is to be aware of what is going to happen and make sure your financial assets are invested in the appropriate manner to come through this. and i think even more importantly then maybe even preserving the wealth for yourself and for your family but i do believe if we are going to try to be active personally in helping to repair and rebuild the country and helping to make sure that after this crisis, that is coming, and i will get to that and it will be much worse in just about every respect then 2008, it is going to be the worst economic period i think in the united states bar none including the great depression. it will not be as bad as the civil war or something like that. but as far as an economic event it is going to be bad for investors. the majority of the investors will see it is going to be very bad. but i think the only opportunity, this silver lining to that cloud is the opportunity to really get the country back in the right di

the dollar is at a two-year high, not just because of hawkishness from the fed, but look at the dollar or basically the euro and the yen, they make up the vast majority of that basket. and each of the currencies have been very weak for their own reasons. so i think the dollar strengthened dramatically. yes, i think as we go into the quorter for the u.s. corporate space where these companies are generating significant revenue overseas. so that may come in. who knows, maybe the fed believes this will happen and perhaps on the curb for the momentum a bit and perhaps this means the fed can hold off until june, but i think they will raise rates before june. >> well, we know investors are watching the fed. and the prospect of rising rates is very closely. piers current, thank you so much for your time. >>> let's go to give you a rundown of what to watch this trading day. september existing home sales out at 10:00 a.m. the forecasters expect a 1% rise. a tree of of fed officials speak today. bill dudley,ester george and president kocherlakota. and autozone and ascena retail will announce thei

there is a limit to which the dollar could strengthen. rrency appreciation having an impact on inflation, which is still rather low in the u.s., there are other implications for the economy which may be unwelcome for the fed. the safer bets for now would be to be short euro against the dollar and shortly and against the dollar. over time, the dollar may start traveling against high-yielding currencies. >> patrick, what is your biggest risk? is it ukraine, russia, the fed? >> geopolitical risks are concerning me. russia and what is going on in the middle east as well. having commodities in your portfolio is a nice hedge. obviously, the interesting thing about the euro was there was a confluence of risks. that makes it such an attractive trade. it is difficult to find a more attractive trade. want to hedgeyou against potential fed escalation in geopolitical risk. >> you just can't get enough, can you? gentlemen, thank you so much for coming in. patrick armstrong and valentin marinov. break, we head back to newport and wales. day to of the na

the fight over the dollar continues. the fight over the dollar continues. r legal tender, but the discount chain family dollar, which today received a new takeover bid from dollar general, topping that by a rival, dollar tree. can you keep that straight? >> i'm there. >> it was a popular story on cnbc.com today. coming up next, we're going to see if it was popular enough to crack the "hot list," as we call it. >>> meantime, this is a great story. we've seen robots clean floors, serve coffee, but have you ever seen one that kills germs? stay tuned. you will meet maurice, the german-zapping robot who's on the move to take out hard-to-kill viruses in places like hospitals. stay tuned. when you compare the top speed of dsl from the phone company with the top speed of comcast business internet... well, there's really no comparison. why pay more for less? call today for a low price on speeds up to 150mbps. and find out more about our two-year price guarantee. comcast business. built for business. [ radio chatter ] ♪ [ male announcer ] andrew. rita. sandy. ♪ meet c