from the nasq market site in new york city, time for this "fast money." i'm melissa lee. you need this after stocks lost 2%. ouguys arein it to w it in any ap t's get to the word on the street right now. technically,ot a good time for close to the lows of e session as the minutes went on in e session here. >> snds like lotto. that's what the market feels ke right now. s&p below the 200 movingay and givie soce. we broke through that today. there's air down to 83 i thin people looking at this. >> first vel, 70. i think itoes there. maybe morrow or maybe not. that's where 's headed, folks, that is not a bad ing. it's an opportunity to get back

in. i think it is a good sign. not bullh yet but getting closer. >> we ar obviously ahead of earnings seaso karen. is this a opportunityo get in something you kind ofait and see how everything pans snou >> i think it a little bit of both. idn't gon with both feet here. i think it is good to have the sellof t.run-up so dramatic. to be 4%, 5% is not a big deal considering the dramac move up and you have to have a fundamental view ofearnings to get in before earnings. it's high for a lot of thes retailers d i tnk the bar' higher f me financials. dramaticselloff. it is a sellof over four or five day that's vicious, vicious the way it is goindown dramatically. driven by the cmodity space. you're back to levels that you haven't been at since lat april. you w look ahead. next week is critical moment. you have the finanal earnings. starts wit goldman sachs.

i beeve you needo be as close to flat hding into the earnings asou can sigh look at the chart the y, in fa. the s&p 500 breaking below the 200-day moving averag technically bearish sign. doeshis mean for the rotation tre we've been talki about so much didn't seemto work today and does it meanhat th trade is not on for t foreseble future because cht not telling us that is is good for the s&p 500? >>he risk of -- guys, going into an earnings season and ddly the connsus is bearish on earnings and onash not a bad pla to be and setting up f an portunity in the second hal of theyear where believe we're getting good data result ibetter earnings but it's risk. >> w said emically, phatically we have moved from where the reinflation trade ended and theext funt comes about positive earnings. it is all about earnings r e cond half of 2009.

that's what you have to be focused on. >> absolutely. let's ve on to the sector tt sent u lower today. commodities. ings in the fray. oil below $63 a barrel. coco losing justbout 2%. they're all these conrns that rhaps the president obama administration will comen and speculative trading coming specifically to energy. joe, how do that impact what you do for a living and howou do it? >> it impacted the market early this morng and probably sent it $2 lower once the ne came out, news hit the tape oil rolled bk over and down again. it oked like it wanted to stabiliz a little bi m talkingbout the l beta names the space. if the tc will strict the nuer of oil futures contracts that any entity may hold, there's still geinenergy expore somewhere else and looking into the names and theye going to try to craft

the exposure there, serves, integrated n, whatever is. they get the exposu. oil futures right now you can' look at them and look at it as, be flat. >> make the jump. say that the regulations g into play and this aect iis lik of theung, the uso hold the futures. we were talking in the green room ior to the show to create a floor for the ets because they're like only so many shares out there andnly trade what exists. >> there's two sid, cutting off speculation in oil and limitingple on the contracts they can trade wilultimately takeome of the air out of the oil market. if you put a lit on the size or amount that these proams have have, you're rit, they could trade to a premiumo the net asset value. of the undering assets because people wt to buy shares that are not there. so in the ung'ca, look, ung has been under pressure cause asoe's been saying, the fundamls are the not the very good.

today people gotpooked by the news and undlying structure, which i think was totall misgde it's bullish news for the ung etf. if there are me peop to invest than there are shes to fill it. >> i think wcontinue lower, but i will say this to py makers. would we be having tame conversation, spulation works both ways. if they were selli this short and oil was $35 -- >> nobody uld be complaining. >> you should think abouthat, folks. >> i think that's the ong term. speculation, tnk they want the market. what they don't want is whate call zombie buyers, the dex funds that continue to gather theapersset ofil as it marches higher a high. >> there hedge funds ou there. aren't they considered speculators becaus they don't intend on taking delivery. >> they're selling it both ways and gog shorat times. we're taing passive index buying, zombie binthat just mahes in. as oil marchesigher, they marcin and continue to buy,

buy, buy, buy. >> but as some poi the market catcheup with them. just like it did this time last year. the same guys were buying in 140s, got short inhe back door so, ifou leave the free markets alone, they will correct. leave ings alone. >> down the trades that don't work, exxon down $2, petrobr, which s been this darling, this o they start drilling for, exxon drilled the first well, found no royal down the in the nd, which actually was 40%wned by ss and exxon and gative for all these ys getting a boos >> and to the trade realck, we td u $9 we told you schlumberger would overcorrect belo50. it did today. now's an opportunio look at these things, you bought them $9 ago or $6 or $7 ago, youe getting blown out toy. >> i agree with guy, i don't want the regation from the ministtion, but when you're ading, investing, you have to understand the ainistration

you're working with. this is their innt, and they're going to act upon it. th are gng to step in and try toimit the amount of contracts you cahold from the long side in energy tures. d other commodies. >> next step of theargument, joe, because youlluded to this be. if they're not gting energy expore through the likes of a ung or uso, they're goingo go to t equity side. does that crtehis flow of money into the equity side, which will then create demand for ose? karen, do you see that happeni at all? is that an investable business? >> if they're coitted ough that. >> to oil, to energy. >> that makes sense me. wealked about transocean, which i've had. i hait when it was up, had it when it was down, bought more today. i don't get too focused onhe noise day-to-day what happens. what i look at is the long-term supply/demanfor oil. i think over time we will se dendmprove, but until then i dot know what will happen with

the speculation so il get it g if i try to trade it. >> let's not continue with t political speculion. with the obama trade. >> w not? >> put the gphic up. go ahead. >> l's annoy guy adami to no d? >> how do you know i didn'vo for the guid maybe wee having lunch next week? >> maybe, maybe, the fact is you don't like this,nd that's why we play it. we did see the health insurs acro t boardurging ross the board after the public plan. rahm emanuel wasuoted as saying the goal is to have a means and chanism to keep the private insurers ht. the goal is non negotiable. the th is negotiable, essentially sang a governmentacked option is not necessarily the importthing. the important thing is to increase competiti. we saw across thboard the health insurers rise on this. was this just reaction -- >> the backtrackg. we talked about unh on june 11th, i remember sitting here this day. made a low of 23 and chang w said iwas a perfect 50%

correct, a week after tna basically blew up, a we said you can own unh for a trade and we mentioned that day that oppenheimer -- thawas wrong. i don't ow if it gets to 30, but 27, 28, shortsilget squeezed. wee all about trading these things. unh to me sets up the best. >> i sti think these guys are under tremenus marn essure. ey're going to be under the watch and today's move is something i would be selling. negotiable does not mean there's prsure off the sector. >> but negotiae to me, that ses like very different language that we've heard from that administratn. >> that's potical, though. that's getting this thing throh and striking a deal. >> it looked like they were opening the door to somethin very different. i mean, we werclose to a kennedy an three, four weeks ago whh uld have been, i mean, just the deathow for these companies, now a negotiable path?

that t me is a very big shift. >>gree, but if you look at what guy sd, these companies are back whe they were three months a before we started digesting and deliberating over what was going to ppen to them. so if you buy it here, you assume nhing is going to ppen. and at's not a place i want to be. >> i thi they already reprent a pretty dramatic shift. this will not be biness as usual. i thk they reflect that already. >> so there are opportunits? >> it depends. if you have a - to me, this was very interesting that he said that. that was a change. i do think ty're me attractive todayhigher than they were yesterday lower. >> this goes ba to -- you and i talked about on thealf time port today, tre's just too much uncertainty surunding this conation. i don't how you buy in with any of theseealth insurs and where we'll be in ter of policy in three to s months going forward. >> going back to what guy said, that makes some trading vehicles, so. absolutely. t's move on.

wasn't just insurers that battled the tough pe today. topping the tape after an upgrade, bank of america upgraded stocks including intel and saw it roll or mid session here and guy, you've be talking about intel. >> ty have a lousy tape. wrong day to do it. i don'disagr. i own intel, but i thoughthey were late to t dance. we talked aboutit the other day when iel traded. huge volume. theyaid get out. we said the new range is between .75 and 17, guess what? even wh the grade, they're lower on the day again, the company i love, oracle on luation is very attractive, but we said too much room, too much room on the down si. it's had too mof a run. oracle's pulleback, as well. it not that i don't like these companies. they're all tradingehicles and they traded on the ranges. >> it's another one of the great tenicals out there. this had a huge setup on the sellide.

intel was 30% t late on this upgrade. >> ibm, 119 was the cle on big blue. joe, you've been active on the calls on ts name. $1 00.19. big surge. no, no. $100. >> the tape rces you out. you can't ng in there. you've got to move to the sidelines. clearly and wait for the guidce. >> this is not a buying opportunity. r all those people looking at big blue for so long, $100 is noit? >> if we have extension to e downside of a pretty ugly tape of what we're seeing right now,o, you stay to the sidelines. if you see sbilityn the tape and you see that it looks like e selling is subsidinsubsiding, m is a name you clearly want to be playingfrom the long side >> guy? >> i think it's insting. ey gave you guidance. the tape will be lousy. does it trade 99? maybe, but now it's ateast lels now to dip your toe, so yes, i like ibm.

>> look, record -- free cash flow. loweverage. it is a grt company. it's just a toh time to be playing this name. i would be waitinfor it around 95. >> let's stick with chnology. time for "analyze this gene, great to havyou with us, why not ise the estimates if the annel checks are better than what you expected? >> that's finitely a possibility. we are trying to keep things conservative but there's no question now' a good timto own apple. june will be gd, but september and december will be huge fo these guys. >> why keep it conservative? what wl be the catalyst that moveu to auay reflect ur optimism into the estimate? >> right now allhese new products came out at t very back end of june. there wille a positive impact on september and december it's something we coider before they report their quarter. we are doing o challenge checks a so far halff them are sold out of the 13-inch mac.

that means dand is outpacing supply. at&t is saying tphone is off to theest start they've had. if you go to espn, tod it's just crazy. you're staing to seehe app developers basically advertising for the ipne. they had a full takeover for the page tay. is is like a boa constrictor on the competition. the iphone they're slowly squeezinghe life out of the competition. it dsn't get reflected in june estimates, but clearlyoing forward thiss going to be a rong back half of the yearor apple. >> and gene, wn you cover stocks like apple or google r that matr, you have to have a vi on the broader market, so i understand you being conservative, but becausu're worried about the erall tape? >> no. we're being conservative -- it is more for the june quarter just because all the new products came out with basically the weekleft in the quarter. i think our clear messagis deceer/september quarters, things get easr r apple. so i think our conseatism more measured in theext two weeks bu we're v optimistic

over the nt six months. >> so the report on july 21s i think thstreet is looking for $115, what are you lking f? if you do the math, about what the suggests, it's about $1.21. more imptantly september/december nbers have sy comps. basically they hit the wall at the back half of last year. that's where the street numbs really need to come up. so you own apple for t back half of the ar. >> genmuenster, great to speak th you. while apple may be one of the america's favorite th stoc, later in the show we'll reveal another. that just broke low aritical price level. we o tell youwhetherit's a buy or not at ese levels. mong on, discover plans for $500 millionffing, which we told but yesterday. set the financials lower on the day but jpmorgan wells fargo ck the tape. we are showing the technal breakdown whent comes to some of these shares. financials one othe sectors that led us higher, but weee it looks like it's crossinthe 200-day as well as 50-day moving average there. if there is an anti-goen

cross, this may be it. beuse the 50-d looks like it is going to move abovehe 200-day moving average. >> rht. and if youook at the earnings, we have charge-offs goinup 25 to0%, nonperforming assets increasing net interest margins will get a little better and wehink the trading side will be a lot better, buthe earnings are not going to distingshhemselves, and people wiltry to look at e models and say how do they find this, but they've diled shareholrs significantly here, and people stillav't valued th in. >> absolutely. when you look at some ofhe banks that specialize in the mortgages, you're talking abou bank of america and how they should be making umoney on the mortgages, home delinquencies rose to a rord in the first quarr. those numbers are absolutely stgering today. they're benjamin franklin tellgou -- i mean amerin express saidwe'll continue to see delinencies rise for at least two re quarters so that me is not the news. i thinth a lot of that is

already baked in, i ink the dilution is already baked in. and so i think that a lot of i is already in there. i do believe is all about the loan loss provision angetting y sense of when that could pleau. i don'think they expect it to be this quarter necessarily. jpm finished higher by more than 0.5%. >> we've been saying to play i from the sho side, and the other day we saiyou cat short it here. no it gets tar levels where it gets short. i ink these stocks on rallies are short instead of buys on dips we said it a number of times jpmorganad a nice day, but i think people were gettg themselves squeed. lot of people got squeezedn the way down. maybe the same peop short jpmorgan said we'lcover those up. there's no way to descbe it other the fact it's been trading in a wl-defined range. >> and it goes back to next week, w important it is, that is going to set the tone of where we go fr here. >> but if we are aelieve

there ll be a rotation trade going into the seconhalf the year, should we lieve that no matter -- not no matter but regardless of what the financials reporin terof betterhan expected earnings or not, there will be aotation out of them simply because they were top performer in the first half? >> i think people are starng to rotate out, but theuestion is when do they rota back in? it's a matter of when u get back in. do you getack into the here the middle of july or wait until the middle of september or octobe >> let's moveon, ecking on some after hou action. ruby tuesday trading sharply higher beating earnings estima. someere in the lower end of its range. it raised the fl year estimate onhe year somewhere in the lower end of the range so do we have a comeback for these casual dining stocks? have you ever been to a ru tuesdays, karen? >> no.

i have no position sho or long. but am short yum which we love d short in cheesecake factory. they have run up far thankfully i not short of ruby esday. >> it is the emergg theme that driving these earnings. by tueay expanding in the middle east right w, that has en a revenue driver for them. >> were you here theay we had the bucket of icken? >> n thank god. >> i was. i ate someof that chicken. >> yum,r favorite stock. e of your favorites. >> kf since 1972. i rememberhe day >> therilled chicken we ha let's ve on here. nextrade, before earnings season starts on wednesday with alcoa, ould you follow th? brian everby, great have you ck with us. >> great to be here. >> the thesis here that is convtional wisdom is earnings season wl be aolutely dis mall. how do y position yourself? >> as far as wt see going on in e marks, i see much

more beash signs leading in than bullish. wee had a 35% gains from the march bottoms. obvisly, some people think th we overshotn theupside. to galg with that, ifou look at the chart in the s&p 500 index, the one with the 35% gain, we're seeing a head-and-shoulrs patrn that forming. and actually think if we go to that 870 level, i don't ink we'll stop. i think we'llontinue on to the 810 or 820evel. other thing., there's one being an options analyst, always like to talk about the vix. what we've seen in the vix options especially on the call side versus the put se in the august contracts, we'valsthe seen 3 to 1 open interest on the call se versus the put side. so that alone doest really arm me except for the fact that at ones are being tred. if iook in the july contracts, at the 42.5 strikeith thvix, righw at 30, huge volume.

also going out to the august contracts in the 45 stke we're seeing he volu once again, so these traders are basically saying there thinking there will be much more volatility over earnings than whathe marketplace worki in to the market at this moment. >> you are buying puts on at, then >> what i would actually say is going into the market have a lot ofeople saying bullish or bearish. i uld like to see retail investors buying insurance, like looking at a different ind. if y're long the s&p index with your portfolio, look buying spdrs as a hedge,aybe going on thentil september. etail? >> in the retail side, actually, we havseen actually some interesting trades thajust ppened recently in the retl sectors. there currently was a lot puts that came in bought on the xrt, theetail f. what we saw was a bit a turn because of the market they came inn the july

contracts, some profits and actually oped more contracts fartheout of the money. in july. th saying they're extrely beish over the next n days the retail market. >> brian, wa great to have you with us. brian overby. >> against walmart long. up a meager 11 cents but ta it. one company's solution to e housing crisis -- shrink wrap it. >> huh? >> no matter what the size. the real deal online reports that a fast-wrap franchise wl shrink wrap foreclos, unfinished andbandoned propertio keep out the elemts, rodents. weather, et cetera. >> ho >> work in n yk city, absotely. >> doesn't sound very -- >> absurd. >> shrinkwrapping? >>aswrap, good time for the show. all ght. thatas the move on the street. coming uon "fast money," the white house has trs all

over walstet saying really? that plus a lot more coming up on "fast money." > while world leaders sip cauccinos, "fast money" goes to work. for th bes tradi opportunities road. and gentlemen, start yr tradg engines. earnings season beginning with alcoa tomorrow a top analyst tells us if th dow's commodity stock can ge thisket started fast off the line, when america's post-market show continues. taking its tful place in a lne of amazing perfncmachines. is is the new e-coupe. this is mercedes-bz.

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welcome back t to "fast money." we're live in timemes square someead vice president bididen's admission that t the admistration misread, as a hihi that e white house is preping a second stimulus s package. enty of sketkeptics had this tsay. reallyly? you'venly spend 10% of the first $78080 billionn stimulus. joining us mark zandy.y. rk, has 10% really beeeespent in ter of the total? and is i it too eay to say if this tng is working? >> you know, i d don't kw where th number is coming fromom i'veounted up to $110 biion in payo since it started

ree, fr month ago a and iis working, as best as s can be expected. you ow, it's still early o on. i think the maximum impapact wil beater this year so it's's premure at least at this point. >> canan you expin the mechanism for unlehing the rest of this s bebeuse it seemems like w wt wee seen so far i itax brk stimulus.. at will happen on the e infrfrastrucre spending in what would you be loooong for >> t infrastructure spendiding is a small piececef the e, $150 billion out of f the $800 billlln packe. most of it is s aid totate gogornment that's flowing through to makake medica payments, anand helpo the educucational stems. it's h helped employed workers, as theyun out of regularr unemplploymentbenefits,s, ty ge more b benefits. tax cutso individuals, checks s to social security rececipient so the i infrastruure spending, thatill take a while, but th's a small part of thehe puzzle. whats getting into the ecoconomy is i thihink havg an impact.

to gau whether it's working,g, we lost 2.1 million jobsbs in th first quarter. we lost 1.3 millioion in the second. if we lo, say, 750,000 in the e current quarteter, 40000 in the urth and the job losses s abate by this time next yeye, in m denition, that's successsses. and ththstimul worked. >> ithe unemployment rate e hits % this year, mark, then n the ststimuluslan could still by working? th's not a reason of sayaying, it's nototorkingaybe we should spenmore money? on getting people backck to wo. >> no. becaususe the forecasts at the begigiing ofhe year were just ong. the e enomy was measurere bring worse. interestingly y ough enomists were wrong a about a l of things cording to the economy, , but the e st sigficant errors were with rpect to jobs and unemploymentnt. ere the increase in unemplployment imuch more than yoyou woulhave anticipated, given the dedeine indp. and otr measures. the problem is our f forecas were oveverly optistic. it's n that the stimulus isn't't woing according to scripip >> mark, it's karen. what do you make of f the

diffent voices that seems toto be floating this tririal ballo ofof a secd stimulus package, wanting to gauge the p plic or -- i dodot knowhich exactly ose reaction they wantnt to uge, partially the publi mamae othe policians, how likely is that is is really what they want to do?? >> mark, before you u swer tt ququestioni want to bring in the coents from laura tyson,n, who was the president's adviviser on the advisory panelel she sayays -- ist too early to make thatat conclulusion, inour view? > in myiew, it is. i think the most benenefit we' see in the current quartete the fourth q quarterand particularly with respspt to jobs which is whate're all fosed on, it won't be u until the enend of is year and early xt. i think the administsttion i worried. they had reasosoto be.

e economy, at least acacrding to the j jobs rert, in june was ve weak. so it's not t ickingo the trend lines they would l like to see so they'y' thinkg, what do we d do if wdon't stick to the scripte held out for? one e int, ithe june employnt report had come outut in may and the may e eloymen report came out in j je, remember thosese numbersere much better than n the ju numbers, then w wwouldn be having this didiscussionbut i think that's threason why we're having g the discussion. >> in your view, it t soundsike this also may wewe trial balloon.n. so ththerefore, if that does op the door to perha an econo that mayay n be recovering as ickly as people aicipating includinin investors on wall street. >> i think tal balloon is too rong a word. i think they're nenervous. they want totoet eveone know at they are -- they'rere worried about t this, ey're think being ththis, th're not out of bullets

ifhings don't go accordingng to w they expxpect them. they're e come back to someing. but i n't think it's trial balloon. they're saying hey, wewe have a fofocast, d if we don't stick to it, we'll comome up wit something g se. >>ark zandi, thank you v very much. >> when yoyou talk out th ststimulusackage, though, it is importanant tounderstand one ing. globalal coordated stimulus packageges are wh workedn the first quarter. itas a stabilizing forcecen the economy and ththe worl it w the stimulus package e t of china that workrked. so anotherer stimulupackage re, grt, but go out and get otother nions globally to o it, as well. >> or another morerepecifiway to deploloy the ney. like china w with a spific plan. >> or maybe balancining. to support a another smulus. i dodot knowhat we can get aw with this, and i thinink there's a lot of d date whher the e first e is working. > let's movove on re. ininvestordumping shares of everhing today, ahead of onene event, thehe season'kickoff, but alcoa was the bestst perfoer in

the dow. so whe will wall streetet take alcoa shares after t bell, afafr it rorts? weave david here, a pleasusure to have you on the prorogram. >> thahanks for ving me. >> what t are yoanticipating alcoa to report? >> w we thinthe earnings already pretty weak totorrow. we are lookining for anher big lolo. we think thehe positivaspect of the stock k came o today. we thought what they s said abt the end market wawas more important than the c capital number. the o had a speech in moscowow where he said hehe believeu.s. the e d chinare bottoming. china's lookingng really g gd a some sectors l like autut comin off e lows so i think that's why you had a big pop in the stock totoy and i thinkkhat's wh people are worriries about so i think t that cameut today, ani think you'll have a anany think k showing morrow. >> this worried d me as a ader. hehe rlly raisesed expecectatio going intotohe number tomorrow. he mentioned the auto trade pickcking up in the s sond halff

the year herend chinana's stimulus. the are platudes that i thinwe have digested. do yothink this is a little dangerous fofor the ceto make ose comments a day beforore earnings? >> yeah, think all the positive news is nowow out. ke i said,d, the e earning are ing to be p ptty weak and inkthere' still judent to y whether the s. and europepe are ottoms, especiaially inhe end marts like construction. we a a know t that auto is improving g but se of thee en marks could potentially hahave down sides. . >> thank you. we want to go to m me huckman who has brbreakingews on amgegen. >> i it's soarg in the after hours becacause just couple minutes ago, amgen, the e world' largrgest biothnology company, announced reresults a large, late-s-stage cnical trial for ththe drug is filed for fda

approvoval for treatment ofof certaiai cance patients d so the compmpy announceded thathe drug m the two main goals in this large, late-stage studud involvg breast cancer patientnt for whom theheir cancer hahas sd to the bon so again, amgen says thehe drug works well on breast cancer patients whohoave se the cancer spread d to the bone. in other wordsds be that i it mt ththtwo ma goals andhat's y you're seeing the stock pop in afterhours. many analysts say this is a blockbuster r drug in e making. back to you. >> stock up alalmost seven buck pret healthy. >> mike huckman, thahas so mh. is t there arade? if therere is on >> when i liquidatat the sck, at $41, i told karereto buyt. did yoyou buy it >> i did not. but t thanksor the heads up. >> it's a great t mpany. for a trtring vecle, it is very v volatile. >> and we'll keep p you updad.

itit's a espnage story worthy off james bd but itit ght knock a favorititetrade on this desk, the top secrere trading formula and what it's really wort. th is next. a tonight's trader r radar, look at the stocksksightinup screens across walall street today. this empire wawas found out of the babaruptcyf l.a. gear in th'90s. thesdays it's known for thth famomo celebty endorsers. li carrie underwoododnd ashlee mpson. and the e stock s running up the charts today after i iuing a positive outlookok for theecond halflff '09. who is i it? ththe answ when "fast mononey" returns. ♪

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skhers, the nation's largest retailerf stre footar was among the most active on the nyse today. weome back to "fast ney." we've got a big send half. dot-com dive, budoou buy it here? we'll answer that estionnd put the kids to sleep, we are saving the plays for trading after dark. ti for tding the globe.

today's selloff m be the reason to ditch the. for foreign markets with economies the fast track for recovery. here witus is david edle, who joins us from san francisco, dava pleasure to jn u. whatreas of the globe are looking at? this, moody's looking look at upgrade brazil's debt to investment gde. you have got a very bullish budget o of india. there s aeakness in the market as a result. i think it's great buying opportunies for the banks and telecoms in all thosonomies. >> hey, david, this is t. i know you're the tad man. we're seeing comdities getting ripped out. in brazil, that's a big partf the trade. tell me why this economynot only expos tan export coodity play. >> only 13% is tied to an external trade. there's very deep, damic domestic economy fro there you're misng out if you don't

own some of thesstks. look at that hugipo last week, veryuccessful. that's the kind braziyou want. not just the iroore and other stuf >> you didn't disappoint. hoabout india? we learn yesteay their deficit ending may be up to % of gdp, maybe the u.s. gets awayith that. i don't think india does. >> what it needs to do is fix the tax collection side of that. they can do at. they have a new gst cominin next april. grt way to play the whole econy. >> chl, david? >> what's that? >> chl. >> china mobe,e like the 3g roll-out, wh they're doing with wireless internet access. the first time you're going to have non dsl internet access in china. it's going to be huge. the investordon't know it. >> davida pleasure to speak with you. > time now to today's editn of "po & drops." we have a drop for dj real estate. it was down 4%. karen? yeah, you know, real estate is a volate ctor for sure.

today volatile to the downside because vacci areoing up. not surprising, rent rolls are ing do. >> jpmorgan what was a pop toda joe? >> i think is the rotation within the financials. you have tget out of it from the short side. jprgan now the story is all about next week's earnin. >> caterpillar w down 5% on the seion. tim? >>ook, this is not about russia. sales down. a lot of people we talking about thcommodities trade was hurt today. protectionm all over the globe means their products are becoming more pensive in other places. guy sd oah down to 90. down 3% today. >> this is a decent entry poin i thk the pe has room on the wnside, but you're getting levels that made mh re sense an a week and a half ago. >> we have a drop for california iou actually a sad story, state of the state. last week californ start issuesous, saying without them, the cash woulde run out by the end of the month.

now calirn's running out of ideato close its $26 billion budget g as a group of the largest u.s. banks would not accept the ious starting on friday. >> tickets to the michael jackson memorial i mean, tha would close that bget gap for em like that. more "fast money" right after this ♪ [ res s] [ female announcer ] sotimes, you can get souch out of so little. e same is true th battissue too. introducing new charmin ultra soft. its w ultra soft design is softer than before. and it has so much absorbenc you can use 7 ts vs. 28 of the ldi value brand. so your family can get more meage out of less. [ horn honks ]

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>> lcome back to "fast ney." we're in the heaea o of w york tytytime for trading afterer dark. whwhe e so investors are running t theefensive names, our nene guest is headidingo o ce trades. she joins us from seattltle sharare r r pls. patty, i gugues t the fundaments bebehi this is peoplee a alws smoke anandrdrin as well. >> exaxalyly. what's more perfect t fotrtradg teter rk for beer and cigarettttes if you look at philip p moisis it's traradi a at times. 5% dividend, and almosost lflf o its s vevenu coming from asia and developing n natnsns. when you s sta l loong at that anand ere we think the growth will be, i think it't's slslam dunk. on the other side i i likemolso coors. nott getting theove of the

heuser busch ininbememeer has gogott.. i think ththeyl l stl do okay. with grain p pris s gog down, it should help t theonon t main side. > patty, wanted to ask about a a stk k mor, ruby tuesday's, it raised its guididan o othe in y yr r vi, is there any value out there? > bed on what i'm seeing, we are seeingng pplple ade down. not so much in the higher-r-en restaurants, going w wrere ty can take thehe eirirfamily. and that t is the event. so, eah, i i t tnknkthat those places arere staying fairly bus and you might bebe ae e toake some m meyey tre. >>atty, it's karen. do you alslso keke aaltria versus philip morris? i l lee the i intnanaonal side ofhillip morriris rather thaha the altria side ofof tngngs. altria, it's a good playay, t t inink e international side of ilip morris has more s sexndnd violence to o r rig now. >> pattyty, eaeato have you with us thank k yososouch. i i le the sex and violencece

>> w wrere you wa to b >> we have porn, x,x, viololcec >> show cininto, man? >>come n.n. come o >> guguy' barely -- >'m'm telling you.u. >> he's very poor. >> s sexvivience and a dividend yield. >> oh, that makes s itkaka all right. up next, you asked, , wensnsred. eaier we received a fast ssage from kim that asasd d kakare great call telelngng u t take ofofit in rig g fefew eks ago. karen will answer thth q queion for kim inin n y yk. the first complete womenen's ltivitamin in a drink k mi ththore calcium and vivitan n d. to support bone anbrbrea health...

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welcome back to "fas money." we're live at the nasd marketsite. time for the flash splash. check out ares of silicon valley poster chilgoogle. shares slipping below the $400 ma for the first time since late may. isooglbuy? wh do you think? oh, you, over ere. >> valuation why, 410, 420 is the right ic no matter hoyou slice it, ove 420 it's a sell, but it's a high beta me. so if yothine market is

going lor, staying away. >> if you ink it's going lor. then -- the corration. >> i think it might be becse binge is stealing so mh mark share from google. >> you just lo to do that. >> love that bge, don't you? >> kim is wring to karen. do you think now is the time to get back i karen,hat ou say? >> i wish had sold it all, but i didn't a actually that would be irrelevant. i do think it's a good te to get in. we boughsomeay, bought some stock and boughsome calls. pete in jacksonville writ i thought toy that alan forier was investing, would any of th traders follow suit? oh, heo. they're cuttg costs, raising premiums.

greabalasheet. they'll y back shot. i hate chasing it, but wellpoint makes sense. do you like at? >> i do. finally a message from donn new yorkwith today ace sharp clin ice, is this a signal to buy or stay awa >> i think you wanto wait a bit. the exanges will move a little lower. all right. you got your answers coming up, whether you should get into this na right now. plus the final tde iur first move for tomorrow. we'll be back in just a ment.

time n to reveal who made the most money today in the whole entire world? cording to a report published today, eddy lambert has been selling large bloc of his auzone stake. he has unloaded mo than $538 million in autozone. lamp has watched his 23 millioshares climb from 115 a 52-week high. would you take profits? >> yes.

and beforereveal who made -- actually -- >> we st didt. >> special squawk box ogramming note for tomorrow. state of the states tomorrowree governors. so tune in for tt. fil trade here, tim. >> i'm a seller of these health cares,o aetna i think today's move was overdon there's a lot of uncertain. i'm going to take wellpoints. >> karen? >> you know, i am puttinmy money where my mouth i i'm buying back reig >> i did not have a good day day. buy a bit.to go to mcdonald's, i'm going to g myself one of those black angus burger, have a little bite to feel beer. >> got to go. thanks f watching. seu back here tomorrow.

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