he calls tom demark, and that's who we have on the program tonight. us tonight on the fast line. tom, presure and honor to have you on the program. >> great to be with you. thank you for the invite. >> got to ask you about apple. what is your call? >> september 21st, we turned bearish on apple. it was above $700. and our primary indicator, sequential, produced a 13 that day and we made a prediction that the stock would go down to $494. $494.97 to be precise. we've held to that forecast all the way down, despite those intermittent rallies. and what we saw was a free fall, something akin to what we experienced in july, august of 2011, into the stock market low that ultimately bottomed october 4th. we saw freefall decline and typically what you look for is a rally and then either a further decline of an equal amount from the prior decline. so, in the case, with apple, we declined from about $705 down to $505 and then we rallied up to $595 or so. if you were to take one half of the prior decline and subject it for that high, you arrive at 494 1/2. and tha

here's what tom demark said yesterday on "fast." tom, let's be clear here. you are saying that the bottom is in. >> yeah, bottom is in today or tomorrow. >> can't be much clearer than that. joining us now is a man who made that call. let's welcome andy hargreave. great to have you. >> thanks for having me. >> yours is the second downgrade as we said, in a month. do you feel like you are a little bit late to this party in terms of the change in sentiment in apple? >> well, yeah, i mean, the timing wasn't ideal, certainly, i mean, it's a thesis, though, that we've been working on for several months, to be quite honest, and talking about it a little bit. and, you know, i wish i could write a little faster, we might have been out a couple days earlier, but at the end of the day, it doesn't really change our long-term view. this wasn't the quarter call, it wasn't something that i thought about overnight. it's a call on the longer term profit growth, potential of the business, and, the price doesn't change that a whole lot. >> are you surprised how long it took wa

you're touching on was the topic of the discussion that started yesterday when a guy by the name of tom demarkalked about the upside potential in the s&p industry. probably only another 1%, around 1500 for round numbers for the viewers, and calling for a correction back to 1420 on the s&p. he has a major, major talking head in this business. many, many of the algorithms that trade this market based on the technicals follow that technique. you've had mark newton following the same technique, and he says that is the concern. you have that kind of -- that kind of impact in the market from the technical side which froze the markets to make it -- and, today, i would tell you the market was a market of stocks, not a stock market where individual issues became the topic of the day rather than the broad industries. for me, i agree. i think that the upside is somewhat limited, it follows what i've been saying since the beginning of the year. the other cross that's interesting now is the money flows into mutual funds. liz: look good; right? >> absolutely. it's one of those things dismal for the last fiv

tom demark will join us on "fast money" to give us his take of what's going on with apple, the s&p 500shanghai composite. all of that and a lot more. >> key wall street earnings reports out and our pros will tell you what will move our money. stay with us. that's next. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> welcome back. with 30 seconds on the clock, our next guests will tell us what to be prepared for tomorrow. kevin karen, adam hughson and sahak from web bush securities. good to see you. kevin, you're up. 30 seconds on the clock. what are you watching tomorrow? >> basically, we're looking at financial company earnings. financials have to lead the way. essentially goldman sachs, jpmorgan reporting there's going to be big numbers. going to get manufacturing data for the proceeding month in around 9:15 tomorrow morning. we'll be watching that. later in the da

we are at a couple of important places we spoke about with technicians like tom demark and others sayingseems very excited. i think we are at a key inflection point here. your interest should be piqued in the sense that you should be watching. you should have a plan to be ready to move if you think things are changing. i don't know that you barrel in yet. >> have a great weekend. see you next week. it's been more than four years since t.a.r.p. was enacted. where are the architects of that bill now? we are opening up the t.a.r.p. yearbook to find out. imagine shopping without a bank account or credit card but buying everything you want. if that sounds far-fetched we'll show you how a company is making it happen when "squawk on the street" returns. ncy. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just li

you've got technicians like tom demark who advises hedge funds saying that there is probably a top inis one out and then david tepper who is so bullish, he is almost salivating to get into the market. >> yeah. dow theorists weighing in as well, saying we saw important indicators this week. what is your view? what are you thinking? >> i think we're going to know in a couple of days. we got to 1500. everybody looked to see if there would be any fireworks. would the shorts panic. we didn't see anything. there was no immediate spike. as you and i discussed earlier, the run rate is pretty much like it was yesterday. lackluster, people aren't really piling in. it is not quite a hold