one of the worst performers in the s&p 500. meanwhile, all that's happened is the earnings estimates have gone higher. what's it selling at? we have to do that alyes bray thing? it's cheaper than merck or pfizer. and it goes up 5% in a day. 5%. today. how about gilead? lately there's some negative research about the new hepatitis c drug. i can earn $7 a share two years from now. during the spring cleaning where they dumped everything it was sold down to 68 bucks that's selling for less than 10 times earnings. and the disparity became ridiculous, today it burst up 4%. i'm not saying that the grand growth sell-off can't return. especially with the flurry of the initial public offerings in the works. however if they have been in their bunkers for the last month should begin to emerge tomorrow morning at 6:00 a.m. now that first quarter selling is over, that's the way it's always played. we saw an excellent firm today, r.w. baird coming out, adding celgene to the focus list. it wouldn't surprise if me goldman sachs taking celgene of

jim glickenhaus custom designed the car using the ferrari p 3/4 series. as inspiration. two years later, he built this second version for competitive reasons. >> ferraris to me were always the most beautiful fastest cars. >> love it! >> you are getting a lot of looks from this car. >> i am sure there are at least four shots of us on the internet already. >> today we are driving the original custom ferrari, which is still blindingly fast. it accelerates from 0-60 in three seconds and can reach top speeds of 233 miles an hour. >> so -- to get one of these out on the highway, and you get a really slow driver in front of you, does it drive you crazy? what is it like driving such an amazing car on such pedestrian regular roads? >> there are places that you could use them. in italy there is such a love of these cars, and shall we say, they are a little more tolerant of you exercising the cars perhaps in the manner they were once driven. >> do you like to drive? >> it is just an experience for me, especially with my work, where i can be in sort of a different zone and not starin

the biggest percentage losses writeright now, dow and s&p 500h down, the s&p closing down 2% losses. e biotech really feeling the pain, they are dreading the market down with them. take a look, it is tumbling at certain points down more than 6%, the steepest drop in three years. you talk about the names, biogen, big tech names as well with google. down nearly 7%, tripadvisor has been a winner and a loser in the past 48 hours, jumping yesterday. so what was giving yesterday taken away today. all this volatility sending the fear index surging 14%, getting very close to 16% right now, 15.81 for those of you listeni listening. today the spell off with a flight to safety with investors trying to buy consumer staples and utilities in fact it is not what is jumping, but what is getting hit the least. down fractions of a percent, looks like kimberly-clark trying to make a go of it up $0.22 or a quarter of a percent. i am looking in the biggest percentage losers on the nasdaq and i wanted to quickly do this. lumina down 7.5%. citrix, which has had a very tough time, down about 7% as we mention

>> the numeric unchanged situation which is the s&p, virtually at all-time highs. s are collapsing. it's a function of the rotation. we've seen epic rotation out of growth and into value. but what happens after that initial phase, this is now seven weeks old, is the value starts to succumb and the growth doesn't get better. in principle. that's the way history shows this gets resolved. the implication is that the aggregate s&p goes lower as parts go lower. >> all right. so this is going to be a concern. if you are in the momentum names, or you are simply watching this, what is particularly concerning, you can explain amazon, the operating margins, but facebook is trading sharply. if that was a great quarter. yet look at where it is now, it's being taken out to the woods, just like any other stock. >> i think people loved the growth there. the company is doing a lot of things. i think there are questions about those two acquisitions. but i'll pin point when this whole thing started. it was february 6th when twitter reported their first ever public company. you know w

the s&p 500 right now in the red, declines of almost 2%, that was the nasdaq, 1% on the s&p 500, the nasdaq behind the three, pressure on amazon and technology stocks. the nasdaq down 74 points p with an hour to go, tyler. >> cathy joens, rich peterson from s&p capital iq jim kahn from wealth management group, ryan jacobson from wells fargo advantage funds an our own rick santelli. let me start with jim from wealth enhancement group. is this a time for me to try and enhance my wealth or just protect it? >> always a time to try and enhance your wealth. we think there are a lot of great opportunities right now so looking at emerging markets, the news is negative, negative, negative. the reality is russia is driving down valuations. all the scare stories out of china driving down valuations. stocks are cheap in emerging markets and this might be a great opportunity to buy. >> rich we're looking at technology sell-off again. here we go again, social media, cloud competing stocks, biotechnology. there's obviously still some room to run in this sell-off of the momentum days. >> you know, g

where is the s&p 500? >> 1981. >> tell me that's a rigged market. >> you're losing money. >> well, let me just say, though, that over time, since 1930, the stock market returned anywhere from the to 11. >> i think this market is rigged by a lot of things, fed-printing money. >> back in the day, your dad was my dad's age. we would get the la times and let me see how my kodak stock did, you know, the big boys in new york knew this yesterday. those suckers in la. >> here is how you get around having to compete on wall street because the big boys in wall street know there's been front-running. become a long-term investor and know when to get out of the market in a long-term basis. know what to get in in a long-term basis and be macro. to you might these guys, i don't care how many michael lewises there, you'll lose. charlie gasparino, at the high with me when he hit a high with the s&p 500 and the closing bell is 29 minutes away. one of the dow components, microsoft, we are looking at it, scrutinizing it. is it

we looked at what portion of the s&p 5005 hundrereturns were in l bucket in may. the sell in may, may through september bucket was responsible for zero percent of the s&p 500500 returns. that is very interesting especially as we are right now, basically flat on the year, moving sideways, a lot of indecision. >> i'm looking at a stat the s&p 500 closed in may with a gain of 65% of the time, up on average of 1%. even though it was down the last three or four mays, i don't know if the charts are telling the whole story. joe. >> i have a problem with the whole sell in may and go away concept and longer term investors involved and tax issues. why not say don't buy in may and go away and come back on the other side with what looks like apparently what you believe is strong performance the end of the year. >> a very good question, i want to clarify. sell in may does not money you should sell. you should short the market because that's where it's going to be. you should not be enthusiastic about the market is what it means expecting blockbuster returns. all the returns on

the c-h-p plans to investigate what happened throughout the night. humboldt state university released a statement after the crash tonight -- saying quote. our hearts go out to those who have been affected, and we are here to support them, and their families, in any way possible. fed-ex *also released a statement tonight -- saying -- quote -- "our thoughts and prayers are with everyone involved in the tragic accident on i-5 in california. we are cooperating fully with authorities as they investigate." several people took to twitter and other social media to post pictures of the crash and its aftermath. you're looking at some of those here. witnesses on the scene say emergency workers were on hand to help the walking wounded, to a transport bus. they say the area also had a strong smell of burned rubber and hot asphalt for hours after the crash. pam -- the n-t-s-b is sending a team to orland to investigate the crash. they are expected to arrive in the morning. again -- nine people are dead and at least 32 are injured in this devastating bus crash. pam.

this name, among the top performing stocks in the s&p, and also among the worth performer in the s&phis month. do you know who it is? you probably don't, but we'll tell you, coming up. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration. to prove to you that aleve is the better choice for him, he's agreed to give it up. that's today? [ male announcer ] we'll be with him all day as he goes back to taking tylenol. i was okay, but after lunch my knee started to hurt again. and now i've got to take more pills. ♪ yup. another pill stop. can i get my aleve back yet? ♪ for my pain, i want my aleve. ♪ [ male announcer ] look for the easy-open red arthritis cap. >>> time >>> time to reveal today's mystery chart. one of the best performing stocks for the s&p in one of the past 12 months, one of the worst this month. melissa guessed micron. >> i was trying to guess based on the axises. >> i

as part of the s&p, it's 10%. u can easily be overweight energy at this level of waiting and do just fine. you guys were talking my book earlier at the top of the hour, i loved it. we like energy companies and just to throw a name out there, right off the top of my head, one of our leading companies right now just had a big settlement on electronics. we still think it has probably somewhere between 30 and 40% left to go. just to get back to fair value. it's a stock that has -- that, you know, 12 to 15 begillion dollar suit was weighing on the stock. it had a big jump after it was settled. it has far to go. wonderful properties. great company. >> ron, you like the oil services stock as well. they so far have reported good numbers with halliburton and hughes. we have seen good margin profits. do you think that's the story with this sector this year or more north americans recovering and nationals recovering or what type of story in your view? >> i own halliburton and a company that has a tremendous amount of margin o

first and second seeds, the s&p, nabors versus tyson foods, nbr is the winner.orrow we'll see who they face after the naz showdown. you know what, the final game,. humans. even when we cross our "ts" and dot our "i's", we still run into problems. that's why liberty mutual insurance offers accident forgiveness with our auto policies. if you qualify, your rates won't go up due to your first accident. because making mistakes is only human, and so are we. we also offer new car replacement, so if you total your new car, we'll give you the money for a new one. call liberty mutual insurance at... and ask us all about our auto features, like guaranteed repairs, where if you get into an accident and use one of our certified repair shops, the repairs are guaranteed for life. so call... to talk with an insurance expert about everything that comes standard with our base auto policy. and if you switch, you could save up to $423. liberty mutual insurance -- responsibility. what's your policy? >>> it is time -- time for the "lightning round" on cramer's "mad money." rapid-fire

they're not sharping the s&p 500. instruments specific to the areas they're investing in. what would move the vix is if the s&p 500 dropped 5% in two days. you'd see the vix shot up over 20 very quickly. >> and the point to that is we have not -- [ overlapping speakers ] >> -- contagion thing. >> right. we haven't seen that. to your point, bob, we've seen nothing like that. >> right. >> like you mentioned earlier, moments. we've had moments of a move. and then the move has dissipated away. that's what the vix is measuring. how much fear is in there at that moment, and if that moment extends or not. >> for the overall market. so we are seeing a lot of fear in the internet names, a lot of fear in biotech. but guys have figured out ways to play that fear and buy that protection overall. the market is fragments, and the ways to protect yourself are much vaster, ask pete and jon, they'll tell, it was three, four, five years ago. >> bob, thank you very much. >>> when we come back, something strange is going on. ebay is on p

ed out the s&p hasn't dropped as much as the rest of the market.rested in hedging. you use puts to protect your portfolio and put spreads. i think that's a good move here. >> it looks like our time has expired. i'm melissa lee. for more "options action" check out the website and our daily segment "pence fast" every day around 5. ""mad money"" is up next. >> announcer: the following is a paid presentation for the power pressure cooker xl, brought to you by tristar. do you love sitting down to a big sunday dinner with the entire family? do you wish you could enjoy the taste of those all-day, slow-cooked, labor-intensive recipes without the time, the work, or the wait? well, now there's a new way to take grandma's favorite recipes and turn them into everyday family meals with just a push of a button and do it in a fraction of the time. how would you like to make a hearty pot roast with all the fixings done in 25 minutes... fall off the bone short ribs ready in 40 minutes... or how about chicken wings, going from rock-hard frozen to steaming hot in jus

. >>> all this as the s&p rallies to an all-time high. but will earnings season derail the move higher? we have all that and more tonight on "nightly business report" for this tuesday, april 1st. >>> and good evening, everyone. it was a record day on wall street for the s&p 500 and the dow transports, by the way. but we begin tonight with general motors. it is under intense scrutiny by lawmakers for safety concerns about its cars. today its new ceo got slammed by members of the house over how the automaker midhandled the crisis. faulty ignition switches in general motors vehicles have been linked to 31 accidents and at least a dozen deaths over the past 13 years, prompting a massive recall. lawmakers want to know what took gm so long, and did gm put money ahead of lives. for her part, barra attempted to reassure those lawmakers along with investors and drivers that gm cars are safe and that she and the company are terribly sorry. eamon javers has more on today's heated testimony barra's performance and what's next for gm. >> reporter: gm c

the s&p 500 utility index is up about 1.5%. for the individual stocks moving, check out shares of excelen, aes, duke energy, firstenergy, con edison, all safely in the trade, so that trade continues. back over to you. >> today's public nest eggs focuses on the state of nevada. that's the state with the biggest reservoir. it has three top performing funds. ranked number three by morningstar with a return of 19.7% last year, the nevada legislators' fund was fourth with a return of 19.4, and the nevada public employees came in in eighth with a return of 18.1%. joining us is steve edmundson, the chief office of nevada pers. i gather you achieved those returns largely by putting money in no-fuss, no muss index funds, why? >> that 100% correct. we are really what carried the short answer was we have a relative overweight to u.s. stocks, so -- but that's really a byproduct of the fact that we have the simple approach, traditional focused asset allocation. basically we have an overweight to s&p 500, relative to our peer group. as you k

the s&p is down sharply. greatest fund managers of our time says this is probably still the great bull market that we're likely to see in our lifetime. one of the greatest. how much higher can we go? and would today be a good day to step in and maybe if you're a long-term investor, anyway, add to your positions? we'll talk about that when we come back. ♪ [ banker ] sydney needed some financial guidance so she could take her dream to the next level. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today...and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen. marge: you know, there's a more enjoyable make a my financial priorities appointment today. way to

the broad market. flat right now. >> excellent point. s&p flat for the year. >> unfortunately, in on our meetings that are off camera. you heard it here first. at least on this show. the momentum stock term is over. it's gone. it's going to be hereby replaced at least for me with the term nomentum because stocks are as cold as a former foreigner hit. we hope to get cnbc's herb greenberg via morse code coming up in just a second. tony, time to by the nomentum rule. >> there's a lot of risk going on. print as well as migration over to desktop years ago. now if you have desktop advertising, you need to move over to mobile. i think it's as simple as that. price is an issue. it's resetting. but if you look at a name like twitter, people have already reset some of those expectations. >> why do you have to buy anything? if you have to buy something, you're saying buy mobile names. but why buy anything? >> you have to own large cap exposure. if you're looking for a name that's going to grow, it's really hard to find that. in the caser twitter, i bel

although the s&p has recovered from earlier losses and is now in positive territory. just the dow is down just marginally here. ibm dragging the dow down. we've got the nasdaq also positive, up almost 0.25%. and we've got a pair of market gurus here on the floor of the new york stock exchange. dominic chu and kenny polcari, cnbc market analyst. so can we go 4 for 4 here? this is a crazy market. >> you know, it has been, but don't forget, it's a short week. a lot of people that are out. we're right in the middle of earnings season. we've got all these other headwinds. the market being a little bit psychotic. yesterday with janet yellen's -- >> confused is the word. >> either way, right? janet yellen's conversation yesterday just lit up the computers once again because they assume she pushed it out for another year, and she's not going anywhere. so rally the market. >> here's the thing. we're also forgetting there's geopolitical concerns going into a long weekend. you do not want to be that long the market if you think that things may flare up in crimea, eastern ukraine

the average pe on the s&p 500 is 25. probably the most telling thing for the next few months has been sentiment readings. we haven't seen bullishness like we've seen in the past two months until 2007 and bearish levels were not this low going back all the way 2000. wall street is very excited. there are about 50% more buy recommendations to sell recommendations on wall street today than normal. we see insiders are selling. one thing that really gives us the chills is the fact that margin debt, borrowing money to buy stocks is at all time highs. all of those kind of say we're in a high-risk period right now and we should probably take a little bit off the table to try to preserve some capital. >> michael, barry has laid out a very full case here. how do you react to it? i you know to be an extremely cautious guy especially when you're playing with other people's money which is what you do. >> no question about it, tyler. barry makes a good case. i want to pick on a little bit, some of his data points. in general i don't th

very interesting, staying with the s&p 500. we were up 7. the nasdaq had been up to 31 points, take a look highs of the session up 65 points but at the moment the nasdaq up 52 points, so what fell? the u.s. dollar started to plummet. when you start to see the federal reserve get dovish again. that is kind of interesting. we also have gold futures moving up, they have been down about $1 then they moved up and they are reversing down below the flatline, so much for that interjection at the moment. here is the five-year treasury. check the five-year shows 1.64% down three basis points. we don't often check the seven-year, but 2.23% down to basis points. back to the dollar, if there's a headline of what got hammered, it is the u.s. dollar. down one-third of a percent, but we can check to see how the dollar is trading against major currencies starting to reverse because it is not great for the dollar if it appears the federal reserve does not believe the economy is good enough for the rate tightening. more on with the feminist reveals, let's go to

in the s&p 500. the top winners are allergy again, gill adsciences, and c.h. robinson. so there is some green out there, ty, just not a lot down here on the floor. >> i think c.h. robinson might have been the only one higher. that will do it for this week of "power lunch." >>> have a great week gent. "streets signs" begins now. slg. >>> the question is who will be brave enough to hold on to stocks over the weekend? the public can finally buy google glass -- well, for one day, anyway. what is the bonds market telling us that we really do not want to hear. since brian is out today, scott wapner will be joining us. there's a whole pile of action going out there in the market. >> and we're watching it from down here, the scene of the crime, if you will, the nasdaq, russell 2000, ever edging closer and the ten-year yield is critical. i know we'll talk about it more, as we go through this hour more, at 262 and falling. so it is a point certainly to watch. it seems as though stocks are tracking what yields are doing. let's get to our market reporters, by the way. bob pisani is

the dow and the s&p are up from last week. we are lower right now with the dow tracking 22 points below fair value. the s&p is 6 point best low fair value. nasdaq down 2.6% on friday. the worst percentage loss since february. they are seeing quite a bit of selling today. the nasdaq is currently lower by some 19 points. the ftse global 300 at the moment is also down by a quarter of a percent. and european equities are low as well. the ftse was up 1.2% over the course of last week. today down .50%. cac is down .70% amid losses to the ftse mib as well. but there's fresh news this morning. cement makers holcim and lafarge confirmed they are seeking approval from regulators for a $50 billion merger that if it succeeds would create the biggest construction materials company. the stock is up 3%. 2% higher for holcim. and bruno lafonte will be the ceo of the newly merged company. they will face intense scrutiny from regulators and there will be large disposals before they can get clearance, if they can get clearance. another deal that'

the nasdaq down more than 3%. s&png a very rough day. >> it is all about those momentum stocks, one of the hardest sectors hit sectors is the biotech sector. alexion, clovis, gilead. tech stocks, price line, netflix, facebook, amazon, google, you name them, to the downside. another bad sign for the bulls here, ally financial. it is the biggest of the year, down 4.5% in its debut. also rite aid reporting a better than expected quarterly profit due to strong pharmacy sales. currently up 10%. then adp moving to session lows after opening higher on news the company is planning to spin off its dealer service business. moody's and standard and poor's governing counc downgraded the company on that bit of news. back over to you guys. >> for more on the spinoff and the downgrade which brings the universe of companies down by 25% that have a aaa rating. joined now by the chief financial officer of adp. >> also a member of cnbc's cfo counsel. i couldn't help but notice a little angst with the news of the downgrade. >> overall th

this is the s&p biotech index. it rose about 74% last year. that is twice the gain of the s&p 500. in yellow, you see this little bit of a correction. if you look at the forward earnings ratio, the sector is more expensive than the broader market. at estimated forward earnings of 22.5. the s&p overall is trading at 17. many analysts are ever bullish. they are still seeing opportunities out there. that thiss saying selloff is creating dislocation. some investors are throwing the baby out with the bathwater. if you look at cash flow generation, there are still names out there for value. he prefers certain names over amgen and biogen. muchys we are seeing too of a correction. i would go back to what we are talking about yesterday. think about when this selloff in biotech began. it is when congress started pushing back on gilead for that $84,000 price tag for the new hepatitis c drug. it is a lot about the pricing power of these companies. our insurance companies going to pay these eye watering price tags? triggered the selloff. futures are in the red. we will be on the markets again i

, the white line, the ipo etf versus the s&p. now it's negative for the year. guys? >> you can see exactly where it crosses over. thank you very much, bob pisani. let's bring in another authority on this subject. herb is still sticking around as well. david, i know you agree with bob that these low floats artificially push the price up but there's one real issue i want to raise. we have been talking about high frequency trading and whether or not it creates an unlevel playing field. you also believe that ipos are quote, rigged. >> i will use the word rigged. i will be very clear about that. because this is a game that favors those with the money. it's the simple formula. as much as all the regulations have tried to come in and fix this situation, if you look at the allocation curves, the people pushing the big money around are the ones that gain the favors of the brokers. it's not a level playing field. clear and simple. >> but unlike high frequency trading, to mandy's point, which is still a relatively new phenomena, the phenomen

the s&p off 39 points. 2% lower for the s&p. and the nasdaq was the one that saw the really ugly selling off, 3% yesterday. a lot of those momentum named sell-offs, the biggest drop for 2.5 year highs. we're now down 7% from the year's highs for the nasdaq. these are some of the names that were involved in the big sell-off. netflix down 5%, alexion pharma. 50 google down as well as facebook. all of that pain in the equity markets meant gain for the bond markets. ten-year treasury yields, 6.4%. we got to a yield of 2.62, dropping 5% -- not 5%, five basis points rather since trade late on wednesday. elsewhere are the bond yields, ten-year bunds, down 1.53. ten-year gilt yield 2.631%. 101.32 is where we got during the session. euro/dollar last friday hit a low of 136.72. this morning we're trading just below 13. that's what's happened today. or what is happening today in europe. we had a big sell-off in japan. sri has the update on that for us out of singapore. sri? >> we did, ross. suffice to say, all the major indices were fairly

when that happened the s&p lost 10%. melissa, some big money betting against the market today. >> mike -- >> hi. >> what do you make of that trade? >> she pointed out the last time the vicks went to 25 we had a 10% decline. that was the smallest decline we have seen since 2009 when the vix got that high, so two other incidents, it got to 25 or higher, we saw declines of 15% and 18% respectively when that happened. the vix seems like a complicated product because it's a bet on volatility. if you think that volatility is going to increase, that's usually when it decreases, the market goes down. i take a look at this, obviously it's an institutional player. it's about someone has concerns about the near future. >> let me make the point, they're kind of concerned about the near term, the vix has become a massively liquid product. i think 700,000 vix calls traded today. the vix wasn't up a whole heck of a lot. i think we have chart of the futures term structure here looking out over the course of the year. the futures aren't t

the s&p. it's down 2%. look at that chart right there, that's a trend line for the last 18 months or a trend channel. it has not broken. it's not broken it's 200-day moving average since november of 2012 on the downside. we are overbought. if the s&p -- it large cap stocks start to participate, we're going back to 1750. >> carter worth, i want to bring you in. you're in the magical place we call inglewood cliffs. in terms of the divergence, can we see this continue? >> the numeric unchanged situation, which is the s&p, we're virtually at all-time highs and yet parts of collapsing is a function of the rotation. we have seen epic rotation out of growth and into value. what happens after this initial phase, and this is seven weeks old, is the value starts to succumb and the growth doesn't get better either in principle and that's the way history shows this gets resolved. so the implication, of course, is that the aggregate s&p goes lower as parts go lower. >> so this is going to be a concern. i think if you're

the s&p and the dow coming off the best week since july. will the momentum continue? >>> plus, it is a big week for earnings, results expected today from netflix and kimberly clark. mcdonald's, boeing, facebook, apple, all will have reported by the end of the week. >> a lot of tech news, nike reportedly leaving the wearables market. >> and more trouble for general motors. new documents showing that the automaker waited years to recall hundreds of thousands of saturn ions with power steering problems. >> first up, though, we are basing for a barrage of earnings reports. netflix tonight, tomorrow, mcdonald's, travelers, utx, at&t, wednesday, boeing, p & g before the bell and a big night on wednesday, apple and facebook

we took the two qualifying best performers in the s&p 500 from the first quarter.ors and tyson food and pitted them against each other with nabors coming out on top. then last night, plug power against intercept with intercept taking home the win. now we've made it to the finals, where the winner of the s&p final, nabors facing off against intercept. you couldn't ask for a more perfect illustration of nabors, a down and dirty oil driller, versus intercept, an icarus who flew too close to the sun and is now plummeting back to earth. you have the value stocks that do better when the economy improves, like nabors, and then intercept. but the growth stocks can't hold up to the locomotive. it's causing a hideous, high-speed train crash that you could argue is killing all of the nasdaq. >> house of pain! >> during the first quarter, nabors rallied 45%, while intercept soared an astounding 383%. i should say, astounding and unsustainable, 383%. but for the rest of the year, there's no doubt in my mind, at least, nabors who may be among the worst of the drillers, will be t

nasdaq is down almost 200 points and the s&p is only down 20 points. i agree with people talking about they rotate into safer things. but if the market's going to have a correction, and the action is leading to that, they don't really leave anything alone. what's left to -- you know, today, the financials are getting -- the financials have been getting beat up. i kind of look at it like almost stock market 101. the stock market -- the first then i ever learned was that a discounting mechanism. it goes up in anticipation of good things. when things actually become good, that's when it usually has a correction. and if you're really bullish on the long term, you want the market to have a correction. >> right. >> you know, i think -- i think there's something here -- >> i've heard that from a lot of people. you know, you exchange an e-mail and you say, wow, you know, the market looks ugly, what you get back from people who are well into the market, the word is "needed." right? it's needed. >> the market stretch, we've gone 31 months without a 10% correction

can carter please do a chart on facebook of solar city and the s&p 500? thanks. t's coming on monday may not be good. facebook, the presumption is lower. >> lower for facebook. dan, would you agree? >> these guys have made $22 billion worth of acquisitions in this quarter. they are not going to put up a lousy quarter in the face of such controversial deals. i think it probably goes lower. i wouldn't be short this stock -- >> why are they are controversial deals? facebook did well after that? >> i think it's horrible. >> looks like you're trying to three it against the wall and sticks type of business. >> let's get to the final call. scott? >> risk reversal strategy we like on xli. >> carter. >> resist the temptation to think the market is oversold. presumptively it is not. >> dan. >> oracle, cart ser sayier is s monday is going to be bad. get your put options on it. >> check out our daily segment "inside fast" every day. see you next friday. meantime, don't go anywhere. "mad money" with jim cramer starts right now. have a great weekend. paid presentation for derm

the s&p on track for a six-day winning streak. an explosion of ma in pharma. we have every angle covered. bill ackman teaming up with valiant to bid for the botox maker. novartis, lily in a strings of multibillion dar deals. we call it pharma palooza. what does it mean for you? this, folks, is "power lunch." this, sue, is your "power lunch" on drugs. >> indeed it is, certainly today. we have it all covered with a fantastic team. pershing square's big ackman and valiant's ceo presenting their idea before investors and the media in new york a bit earlier. kate kellie has the takeaway. high, kate. >> we're well into hour number two of this investor presentation when we heard from both. big ackman taking the stage for the second time since i've been here just as i walked out. he'll be taking q&a in just a few minutes. a quick reminder on what this deal entails. it's essentially a proposes cash and stock transaction in which every share of allergan would be received for cash as well as a large majority of a valeant shares, a lot of talk from michael pearson today wh

the s&p is more of a world in that. y trading at such a huge ring him to the s&p 500, i think the market is really worried about momentum stocks and growth stocks. companies prove it, you will see the volatility extremely elevated. >> how do you play this kind of market? swan, the approach we take is a hedge equity approach. we grow up -- we go out and buy puts. with the vix relatively low, but index showing that market is really scared right now, we can buy insurance, which is a longer-term option to protect the thing case the short-term volatility indexes right. we are taking his long puts come along equity that allows you to capture as much upside and still have some defined risk and protection against the market really dropping in having some sort of type of event.8 >> thank you so much. we're looking forward to having you back on. "taking stock" with him fox is next. ♪ . . >> this is "taking stock" for thursday, april 10, 2014. i am pimm fox. is selling, plain and simple. u.s. stocks tom lane. a lot of selling going

if you think the russell is bad, the nasdaq is down 5%, s&p down 2% as is the s&p 100. ndustrials not so bad, down 1.8%. the russell and nasdaq 100 have really been taking it on the chin today. there's the dow down 112. it is time to check in on playoffs. stephanie lincoln and joe terranova making big news. stephanie, what are you selling or buying? >> i sold on friday, starwood, a little over $80. the reason, the stock's done what i thought it would we picked it in the middle of december, up 7 1/2%. a pretty big move. i don't think there's a lot of upside in the near term i'm buying general motors, pretty much hated right now >> pretty much. >> i understand, from an emotional point of view i understand that and it's a tragedy. the stock has lost over 5 billion in value up 14% in the same time frame and i think the restructuring is well on track and they have a good product line that will lead to better market share. the most important to me they didn't have to discount on pricing in recent months in terms of auto sales and think that will continue. >> what do you think

it is the latest step in a nationwide p-r campaign gm launched this week. "we can lift our brand 20% through film. we'll particpate in a movie depending on our understanding of what story is being told." the ad campaign involving 60- and 90-second commercials came out as another g-m story was being told in washington--- where lawmakers grilled gm's c- e-o mary barra about faulty ignition switches linked to more than a dozen fatal accidents involving g-m cars. "i think the timing is unfortunate." brian fielkow, who's book "driving to perfection" explores corporate culture, says the "new g-m" mary barra talks about should have put put the brakes on it's movie campaign. "i sure would have put this marketing campaign off. i mean we're talking the seek of the testimony." the people g-m offered to speak were ready for questions about fatal accidents that led to the current recall of 2.6 million g-m cars. "as our ceo said, we're sorry the way this whole process has come about." and as he spoke, vehicles exploded behind him. "the general motors companies build cars

want to show you the dow and s&p, the best single day for the dow and the s&p in some three weeks. rocky road of late. let me show you some of these momentum names. the ones who have been so highly focused on over the last several days. there's tesla, netflix, amazon and facebook all getting a nice gain. call your attention to the bottom. facebook up better than 7%. biotech names, also a group to keep a close eye on, and they are having a nice rebound, especially celgene up by better than 6%. what do you make of today's action after the minutes? is it something to really build on the last couple of days or be wary of? >> no, i think it's something to build on and i think that the earnings season is going to at least meet expectations. a good chance that we see a -- the earnings numbers will fuel another rise in the market, and in the short term i think the market goes up. intermediate and long term we're very constructive. >> what about the nasdaq? this pullback that we've had in some of the names, a lot of carnage. >> yeah. >> it got pretty ugly. >> who is to say that's over? a lo

the s&p is down 20. that's more than a percent move to the downside in the s&p. days for the nasdaq, that's an ugly chart. down another almost percent and a half in today's trading session. back in a moment. back in a mome. peace of mind is important when you're running a successful business. so we provide it services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next. ameriprise asked people a simple question: can you keep your lifestyle in retirement? i don't want to think about the alternative. i don't even know how to answer that. i mean, no one knows how long their money is going to last. i try not to worry, but you worry. what happens when your paychecks stop? because everyone has retirement questions. ameriprise created the exclusive confident retirement approach. to get the real answers y

the s&p didn't peak until december. so you can say, well, it brought down the nasdaq, but wait a second. you have to break down the decline within the s&p. because it had much more to do with the decline in value of the large tech stocks that so dominated -- precome napted the s&p 500. like sysco which journeyed in market cap to $1448 billion and then back to $86 billion. do you know that intel and microsoft had a similar trajectory within the s&p where tech they were responsible for this decline. most of the other stocks that we like were responsible for picking it up. they were obliterated and by the preponderance nature of tech. and the tech moves dwarfed the rest of the market. the amazing runs we saw in the foods, in the beverages, the drug stocks, the non-tech growth stocks, the industrials, the oils and the utilities. yes, tech was so huge that it blighted the whole s&p, despite the big rallies and the other sectors i mentioned. so i'm not as frightened by the 2000 analogy as others. because the worst decline in n

the dow right now, the s&p there you see the do you down 126 points, s&p down 1.5% and the russell downazon. that's one of the reasons why. ukraine's leader says russia's leader is trying to occupy the country, president obama threatening new

look good in the face of a nasdaq -- >> well, again, for s&p 500, you have a lot of stocks in the nasdaq. and anybody who's running a hedge fund now, they're probably outperforming, judge, because of the hedge. >> the hedge fund has been getting crushed. so many of the hedge funds have been getting crushed. >> the same thing that held them back last year, it was the hedge. in other words, beta itself, picking out performing stocks, that's been the way to go until now. now, the people that do have that hedge in place are the people that are outperforming, not the people that are picking stocks necessarily. most of those folks that have beta are losing, because the mo-mo stocks are trading to the downside. >> it will be interesting to see if they can deliver on earnings and how the reactions are. do people look for the cracks in the stories? will facebook say this is the peak kind of story? the reactions will be very telling. >> i'm one of the people that thinks growth is going to accelerate. i've talked about it all year. growth is coming back.

the u.s. attorney has finally filed an indictment. more on this story later. p-g and e may finally be held accountable for the 2010 san bruno pipeline explosion that killed eight people. what the state's attorney says the agency did and didn't do that could cost p-g and e millions of dollars. kron-4's grant lodes read through the indictment and has more on what p-g and e is accused of. it's being described by state attorney general kamala harris as an important step to hold p-g and e accountable for the 2010 pipeline explsoion that killed eight people and injured 58 others. the indictment filed today charges p-g and e with 12 felonies, accusing the company of violating several federal according to the indictment, the agency willfully used false and incomplete information while checking the safety of the pipeline that eventually ruptured and destroyed 38 homes in san bruno. the indictment specifically looks at three different lines that were trouble spots -- one of which is said to be the highest risk of all. in 2011, investigators with the national transportatio

the stock got crushed down nearly 10%, making it the biggest decliner in the s&p 500. nd that is with the posting of quarterly earnings that were in line with expectations as we told you last night. josh lipton explains what is troubling investors. >> this is the original sign. from the start, jeff base's strategies for amazon and the company rein vest be in the business. it is a business strategy that investors haveñr embraced becau they believe in his vision, building an e-commerce power house that also offers almost everything from tablets to cloud comput computers. some are losing patience after amazon delivered strong sales but a disappointing out look. >>> the market wants profitability sooner, getting what it wants. >>> amazon's first quarter revenue jumped 23% to nearly $20 billion driven by new customers and new products. but amazon intends to keep spending a lot of money on hardware such as tablets and set top boxes as well as video content and delivery services, all the spending is having an impact on the bottom line. amazon projects a loss of $455 million. s