government needs to stop covering up and giving us some real answers. that's it for tonight's willis report. thanks for joining us. we'll see you right back here tomorrow. charles: i'm charles payne and you're watching making money. some very big news today. we now know about the -- a lot more about the american nurse who contracted ebola right here in the united states. peter barns live in d.c. with the latest. >> the director for the centers of disease control the nurse who contracted ebola while caring for the dying patient from liberia shows the u.s. must rethink how they handle diseases. the nurse did everything right. wore a protective suit. followed all the proper protocols. the effectiveness of all that quipt and those procedures is in question because of the diagnosis of this nurse. cdc director thomas

frieden said today, experts don't know exactly what failed, but that everything is now under review and steps are being taken to prevent this from happening again. he said the nurse is in stable condition. frieden also said, he would not be surprised to see additional ebola cases among health care workers who treated the liberian patient in dallas, thomas duncan as well as other cases in the u.s. doctors are monitoring 48 other people who had contact with duncan before he was hospitalized. charles. charles: thank you very much. let's now go to nicole petallides. nicole. another rough day for stocks. actually it was another rough minute for stocks. >> charles, this is a different time. usually good news from china gives us a boost. about pushing rates further back. the heights to 2016, but be the not today. today was the rally that fizzled. instead we saw 3:00 p.m.

you had ebola worries. by the end you saw selling across-the-board. all down. airlines, hotels, all lower as well. all this volatility and this selloff was on some heavy volume. this month of october has had some serious volume. charles: the investment pros are all here. including the capitalist pig himself. and first making money appearance. jonathan. of course, fox news contributor our real good friend. johnny courtney we'll need your expertise outside of ebola. there's this thing still called the economy. keith looking fantastic and matt mccaul you sound nervous approximate. but let's get a recap. i got to tell you something, this market closed as three p.m. eastern time instead of four, the dow would be

at 500 points higher than where it is right now. of course, the problem once these rally attempts begin to fade, they trigger selling programs which triggers selling programs, and so on. today is one of those things where there wasn't a concrete reason per se. we heard about the flights where everyone had ebola and all this stuff. all of this is adding up to frustration or investors. they're becoming very, very worried about this. today's selloff. my opinion of classic capitulation. nicole talked about volume. tend of the day everyone throwing in the towel. we took out august lows. the market has given up all its gains for the year. the carnage is obviously worse if you're in tech stocks -- the unmitigated damage. that means huge hits for your portfolios. we understand that investors are selling right now in emotions. near term risk. they don't care about

long-term. they don't care about valuations. they don't care about potential. matt, i was joking on friday, the market holding a key support point. we were lucky the market closed. you got that feeling if we were open another hour, we would be down 1,000 points. >> i thought this is it. we found the bottom. and the way it acted in the last two hours of trading was so ugly. we've now closed on a low today four of the last five trading sessions. we see selling into the closing bell. i don't see it ending any time soon. we're not at that capitulation yet. i don't have that fear for my clients. the next seven days, we will find a bottom. there is one more swing down before we find that. charles: why did we give it up? >> who cares, charles. charles, you know this game more than anyone. sometimes investing isn't about knowing why. it's about knowing what. it's about knowing what's going on in the market. it could be ebola.

we used to talk about threat levels and the iraq war. you can always come up with the reason why. i think your lead is what matters most. multimonth lows. charles: it's another thing it completely collapsing every single day. >> you don't this that's a little hyperbolic. what was the percentage close? 2 percent? charles: it was pretty ugly. 200 points mostly in the last hour. >> where our phones ringing off the hook? we're buying on the way up. charles: i got to unplug the phones in jonathan's office. >> i was surprised. with no economic data, the bond market closed. i thought we would drift a little bit. but tomorrow, i think starts we got a big earnings day tomorrow. when we talk about finding a bottom, if

there's some good earnings from jp, city, we'll talk about the economy. >> the financials held up really well. and a lot of are trading up. so that may maybe telling me something. chairmt also like the inaction roughly all day long. that's been the hardest hit. the small caps this were trying to lead. of course, it's rare for them to lead. they were trying to come back. let's stop. let's blow the first whistle. this is where we open up a page from the payne's investment playbook. we focus odd volatile signs. what i want to do, let's discuss what might be a catalyst for reversal of the other side. the russell 2,000. it crashed before all the other indices. now, all the key indicators that i employ from a technical point of view, you know, more or less don't amount out the door. you know, we just sort of broke all kinds of support. for the russell it was

1015. again, we talk about earnings. earnings season is with us. they're going to have to be great. but look at this chart here. and here's what i do like. there hasn't been a lot of preannouncementments. we haven't had a whole lot of companies saying we're going to miss. expectations are high for the top and bottom line to improve. look at smmpg -- by the way, some of your key earnings report this week if you see for tomorrow all of the banks that we alluded to earlier in this show. another tharvelgd breathe some life into the market, those old flying names. a couple of them turned around. and then, of course, here's some of your take over. potential take over names. csx in the news. pepsi they talked about budweiser taking over pepsi. i don't know about that. monster. green mountain. expedia. zoo lily. all acting pretty intriguing a lot of

factors could turn this around including the doctor dollar a weak dollar might be what it takes. jonathan, so (?) let's talk about we know what we know. the market is obviously vulnerable and to what degree anyone wants to panic right now depends, but what do you think turns it around. >> you know, listening on this reminds me an old age market proverb esh, we'd all have a merry christmas. if this happens if that. what do we know is happening right now? the breath is terrible? by and large this market is still a falling knife right now. we don't want to catch falling knives. i don't need buy the bottom of the market in order to make money in the market. i want to see some stability. let's see gopro find a bottom. any of these high-tech flying stocks to find a boot. >> i don't think it's the high fliers. i think it's the energy stocks, the manufacturing stocks. we need to see some really great numbers.

when petroquems accounts for 30 percent of this market. if we see a free fall, that's what will bring down that market. if they can rally, and we can see some great earnings, i think that -- charles: of course, oil broke down again. 8355 is a key support on oil. the way opec is sounding it's pretty interesting they're okay with oil at this level for a long period of time. that may not be our savior. >> that means maybe the trend is going to go even lower. charles: to your point. >> i think that's the bigger picture. charles: you know, listen i've been saying, people initially the tweets i got were upset. i like cheap gas prices. there is a point it is an economic flag. i want to ask can you, johnny, what can happen with respect to to this economy that can turn this around. we know there's a whole lot of skills shortages across this country. can the economy come to the rescue? >> i think corporate

earnings is really going to be huge this week because we need some good news. if we can having this bad news, it's really going to start to impact confidence, both from, you know, an employ, an employer, ceo confidence and that can really impact the job market. if we have a lot of bad news, people will get concerned. companies will slow down on their hiring and it could stall the job market. >> but will the slow down happen as we get into q1 in 2015. do you feel like the slow down will take place further into next year. >> i think it will be good news. we'll continue to see hiring continue. we'll continue to see movement certainly with wages. wages are going to have to keep moving. we did get some good news out of adp that hourly wages were up. >> the market will price it in before it happens. i don't think we need confidence. i think we need people to throw in the towel. when my clients throw in

the towel, i've had enough of this, i think that's when we turn around. charles: so your phones weren't ringing either. >> today they weren't ringing maybe they took the holiday off. look at the vix, we're at a level we bottomed. we're at about seven the .2 percent now. we're getting close. one more downdraft, and i'm buying into it. >> what's your position? what's your position of the market. if you got a ten, 15 percent allocation how worried should you be if you're overweight in stocks, i think you have to have some caution. charles: although, the oldest axiom is buy low, sell high. obviously as we go lower and as more people throw in the towel, there will be some amazing opportunities out there. >> i agree and i like your point very much about how many companies aren't talking down earnings. and i think pay

attention this week. tomorrow four core banks are coming out i guess on wednesday the fourth. and watch what they say. are they making money on -- you know, i guess revisions? are they starting to grease the wheel? like the banks or don't like the banks, the economy needs it. >> if intel is doing, well, it means a lot of little guys are also. charles: let's stop here and blow the whistle and take another page from the investment playbook. a lot of scuttle but that about the federal research and what they're going to do. now the rumor is they're going to unleash another round of extraordinary accommodation. it started with the fed statement about the tbloabl economy and observations by the imap, but eurozone and their economy over the next 12 months. of course, we know the news. wasn't good. apparently they think there's a 40 percent chance of recession. 30 percent chance of inflation. then over the weekend,

stanley fisher spoke about the economy once again and it added some credence to the notion that the dped will factor in what's happening in the world with their new decision-making process. it's an interesting statement. this is just part of it. other national central banks we must answer first to our own citizens and taxpayers, but because of our size, developments in the u.s. economy will also affect foreign economies since the u.s. dollar is the most widely used currency our interest in ensuring a well-functioning system inevitably have an international demention. now, i got to dull there's a whole lot of misconceptions about the qe and almost all is completely wrong. that's not exactly what they do. we've had 3qe and see one of them they bought mortgage-backed securities. and debt for fannie mae and freddie mac. this last one which, by the way, has been

winding down all year long people all day of a sudden -- there's 5 billion left. they were buying long-term treasuries. let's talk about this because obviously there's stay home people in the market who take their queue only from the fed. the fed when they do make these moves they make stocks more attractive than any other assets. i can't say it's worked. well, listen commercial banks they have so many -- they've been buying so many treasuries. in september they bought -- these yields are nowhere they want the safety. they have almost $2 trillion right now in treasuries. now, the fed's balance sheet, well, they're going to try and engineer some soft lining and revive this economy. for me, whatever the fed is trying to accomplish, it hasn't been worth the risk. >> i'm going to agree. approximate i think they've stayed in this party too long. i think there was an

element where dhoad save the system. whether they could have done it better, is irrelevant. i think the continuing pressure of continuing rates have hurt savers. it has create the value in stocks. at this point we're almost addicted to the fed's rates and it's going to be hard to get off it. i think they need to phase out. it is very difficult for the fed to help on the labor side. they can help on the financial markets, but the market is a different animal. charles: although that's their official dual mandate. i felt all along at least in the last couple of years with bernanke. the third part was housing. so now you're telling me there's a fourth thing. we got to save the global economy on top of these other aspects that they haven't been too successful with. >> i think when you're extrapolating, that's what's freaking out individual investors what is going to happen when these bonds mature. that principal the individual investor are we going to have do pay

that back? is it going to be shifted to the next generation? who is going to pay that? that's the real fear as well. charles: john, i know you're a big fan of the fed. what would happen -- how would our economy look if the fed didn't exist. >> it would be kicking ass, charles. it would be thriving. the fed can't do anything. the fed is destructive my real fear more and more is that we're going to to see a 1970s spike? interest rights we'll shee more of a japan style 20 year period of loss period of terrible productive. ultra low rates. it's always destructive. whether it's intervention in student loans. whether it's intervention in housing. it always lends in wealth destruction. >> i will say without the fed's intervention because of the removal of the investment banks were basically became

one we wouldn't have an economy. there wouldn't be a global economy without the intervention of our fed. there wouldn't have been a bank -- no money would have been lent whatsoever. >> so atms wouldn't have worked? >> atms wouldn't have worked. >> investors would certainly have lost money. charles: he's saying the positives would have lost money. >> your point about housing, the fed while it did want is to estimate housing, the rules and erosions lending, have been absolutely incongruent. charles: but i also think that money printing also tried to nudge that virtuous cycle also. >> all the growth we've seen in the economy -- the biggest fed expansion -- and charles, as you point out all the time, the slowest so-called recovery in moderate -- where his the band? charles: listen, pain management is the biggest business whether

psychological pain. physical pain or economic pain and we pay a big price. i tell people the more we put off our trillion dollar debt we can jump off a one story building now or ten story building building. >> bernanke's plan we will keep interest rates low. the prop up equity prices pushed the market up. the oapped he wrote years ago he said that in a roundabout way by propping up the market, it makes people feel rich. >> he can't get a mortgage. the evade reality. >> the feds stimulus to get this housing market happening isn't speaking to the fact that people can't get a loan. it is incredibly difficult. you know, we talk about this a lot. the only reason why

people are able to get homes now because they put huge cash deposits down. you can feel rich, but if you don't have money, it doesn't make sense. >> the feds didn't write those rules. charles: they're following the marching orders. their dual mandate, contain inflation helps with the job market. you're the job expert do you think the fed has played a positive role in that? >> i find it interesting that the fed has always been focus odd the job market and wages, and that's what they've been talking about. and then we had a pretty good job report out last month and we're starting to see some movement. charles: but no wage increase. >> no. other than we've heard that maybe it's coming. and now, that we're getting a better job market they're coming out and saying we're taking a look at the global market that we're going to keep interest rates low. they're switching it

from the job market over here. >> what do they think is going to happen? charles: we got to go, but i will say if anyone has time it's a pretty big book, but creature from jekyll island. i haven't had a chance to check twitter, but they were already coming in and we've got a great question out there that a lot of you are asking and i got the perfect panel to help. offer the kite kind of guidance. i want to make sure you're going to become a better trader or better investor. wheel debate it. we'll be right back the goal of this show is to make you money

charles: all right. time now to address your questions on making money curious about a stock and industry. you can always ask me. got an email she writes my brother and i opened separate he trade accounts. i'm learning so much from your show. my brother is looking into the day trading aspect of it and i want to put my money in the market and let it ride. you know, the reason i love this email and i've been saying this from day one and i may have to say it every other day, if you want to be an investor and let it ride, you have to take the ups and the downs. there have been so many stocks i've mentioned that are up 20, 30, 40 percent. if they're volatile, they can go back up. some are afraid, some angry. you already took profits at calm at 37 percent that kind of stuff. make sure you know what you want to be. i love that your brother wants to be the trader.

and you want to be the buy and trade person. i think everyone should be looking -- doesn't mean you have to go there tomorrow. it is -- even if you're a trader it's a long-term journey, but it has intermittent races as well. three to six months, in my mind is a long term investor. not week to week no matter how volatile it gets. >> i think it's kind of funny that the woman is smart about this taking her time approximate and the guy wants to go out there instant gratification is what he wants. you have to weather this. and you look back to this bull market, we've not had a lot of pullbacks. there have been great buying opportunities. you talk to investors, let me have a ten petitioner pullback. here is your 10 percent pullback now take advantage and buy into it. charles: the oldest axiom is buy

low, sell high. when it's getting low, people are afraid. >> you might see too some of the younger investors that are getting comfortable getting into the market and last week and today is going to give them a little scare. they don't know what to do. so -- charles: you're the guy, you believe the markets -- you don't try dictate the markets as much as follow the markets. you're a young investor. you got into this recently. you bought x, y, z, what do you do? >> the shorter the time horizon, the more difficult it is to make money. certainly when you get to the day -- interday trading. i think you should try to go to vegas at least get some free drinks out of it. when you're talking about regis in the morning and selling in the afternoon, ugoing to lose money. you want to be looking a couple weeks out. and ideally a couple years. when i'm wrong, i'm a trader. i'm an investor when i'm right.

you want to buy that stock that goes up. to your point that goes up. 112 percent. when a stock goes up 15, 20 percent, i think it's the market saying at least for now i'm on the wrong track. charles: you still have hold it if you want to be an investor. >> indeed. charles: ukraine, isis, ebola, unemployment, the economy and, of course, now the stock market, so what's obama doing? he's golfing. come on. we'll be right back. she's still the one for you.

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>> you keep hear let's have a czar, it is a complicated multifaceted process of what is being done, this is fundamentally coordinated out of the white house through national security council, idea of having a czar, we had czars, in other areas of crises, not necessarily

working out so well. i think that coordination is good. >> that was dock anthony. on fox and friends this morning, discussing ebola and the breach of protocol, he is against a travel ban, and need for an ebola czar. it was all big ebola news breaking out today, yesterday, sunday, president obama zipped up in his wind breaker and played his 200th round of golf, and literally phoneed it in but before teeing off he called secretary of health and human services for an update on the ebolda. president decide -- ebola, president decided it would not look good to discuss ebola from his golf cart. i don't know what is worst optics? >> what is surprising this president of the talking about

being so media sent rick, media savvy, and image savvy, you would think someone would say, mr. president, you got a bowling alley downstairs, take a couple weeks off play down there. pick another hobby, in my opinion that is not distasteful by so many people. charles: he went to golf after giving a big press conference, he admitted that the quote-unquote optics were so bad, i know it is an addictive sport but golly, what is going on. >> out of 129 days he has been -- i am sorry, overall, he has taken 19 vacation, president bush took 65 vacation, you know he might play golf, i loved president bush but see it in perspective.

>> bush came out in an interview, said i will not go play golf, he gave up golf, he said if there is a solder who dies that day, that is shape in the mother's -- slap in the mother's tkpwaeu face while shes mourning and i am playing golf. charles: modern day, it looks like you are having way too much fun, with high 5s when the rest of the nation is in terror. terror. >> i'm with jonathan and matt, looking at this, it is impacting his imag image. i'm surprises there are not more people in his close circle saying you are being perceiveed in a very negative way, think about a ceo running a company increases, they are not out golfing. charles: i think one of the big issues that is gnawing at that market is a crises in confidence, and a crises in

leadership, it does not help the market or the economy. >> that will carry over into other things, if consumer confidence, companies will put a freeze on hiring. >> with ebola we need a leader someone to stand up to that podium we feel confident they will take care of this. meanwhile he is out -- >> now charles we have young americans at risk in middle east, the president and only president is the commander in chief. so if he is not on the job, i think that market -- >> and 4,000 troops fighting ebola. you know you -- you don't want to talk about some will not come back without that disease. >> he is not the president -- played most rounds of golf or taken most vacation days but given the geopolitical risks you are highlighting he should be pulling back. charles: all right, i have to blow the whistle, last page from investment playbook of good news

last week, life expectancy in america, hit an all-time high 78.8 years, women 81.2, men 76.4, there is an impressive development. if you made it to 65, you got a lot more living to do, if you are 65-year-old woman, you will live at least on average, 21 more years, if you are 65 as a guy you have 18 more. this means today's golden years are different from the past, in every way. joannie, administration likes to talk about max exodus. baby boomers are leaving? they are going back to work, pain a picture of how new normal looks. >> you know they always talk about labor participation rate is low because baby boomers are leaving, that is not the case in

1993, 29% of people in the workforce were 55 or older, today i it is over 40% are 55 or older, they don't have financial means to retire, they are not ready to retire, that i want to work long. >> healthy, you like to do what you do. >> they enjoy it, talk about some amazing life statistics. they are not liveing that long in north korea, or in cuba. in many cases 25 years shorter, this is a great test. to miracles that only created in america, that type of life expectancy, work and enjoy your life. charles: the word retirement a lot of people 45 or 55, they know they are on the wrong strong with respect to retirement. a week like this, they say i'm glad i'm not in the market this week, but they are not being honest with the idea, if you

want that great life style, if you don't want just sit back and watch tv and hope for a social security check you have to do things different. >> the shift in life impeachment see -- expectancy has been dramatic, retirement is anquated to me, we talked about savers because of low interest rates they have been hurting them. so i think there needs to be a shift to greater percentage of stock but fle blew chip dividend players, you have to make a more concerted effort. effort. charles: ideas on how bee -- how do you play this new dynamic of people living longer? >> i was doing research, baby boomers are scaleing down, those who were living high on the hog, before the recession, are now starting to pair down, getting rid of mc mansions, and going to

multifamily living situations, i like a company like lennar they made a massive profit last quarter, but they are focusing focus on multifamily apartment. building them. in new york city for example, 8 million people leave here about 2.6 million are people over the age of 50. but they will retire, and start scaleing down. >> i'm going with swroe zodus, n off from thousander animal house products -- pfizer, animal house products, the older people love their pets, so do young people. they are spending money on pets invest this the company. charles: a winner. we'll hold it right there, is the ebola panic over the top? is it a bigger ticking time bomb

than our government debt? suffocates student loan debt we have. we'll detail that. and sense your questions in, a lot of great tweets. i'll share them on the show, tweet me or go to the facebook page. keep it right here, we'll make you money. your customers, our financing. your aspirations, our analytics. your goals, our technology. introducing synchrony financial, bringing new meaning

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spiriva helps me breathe better. sfx: blowing sound. does breathing with copd... ...weigh you down? don't wait ask your doctor about spiriva handihaler. ghave a nice flight!r bag right here. traveling can feel like one big mystery. you're never quite sure what is coming your way. but when you've got an entire company who knows that the most on-time flights are nothing if we can't get your things there too. it's no wonder more people choose delta than any other airline. charles: i know we don't have a win ston churchhill as our leader but should our lives stop because of all of the bad news? i don't think so, we'll debate it.

charles: more breaking news now that a nurse in texas contracted oebola, a lot of people are worried about air travel, and possibleive coming into contact with the disease, white house said 5 airport in united states receive 94% of travelers from guinea, liberia and see sierra , oho'hare, newark, jfc, dulles ad hartsfield, jackson and atlanta, receive about 150 visitors per day. and white house said estimated thick,00estimate36,000 people ft two months 9,000 bound for u.s., we'll have more on this in just a bit, but we want to keep you up on this also, notion, mankind, has existed with disease, war, famine from the beginning of time, yet, there and i fear in the air in america that in some respects seems oddly misplaced from 1918 to

1922, spanish through pilled 53 million people in the world -- killed 53 million people in the work, each year, col a malaria, aids kills millions of people everywhere in the world. over weekend, i saw a photo of a shopping mall in turkey, 45 min us from the kobani, here is the thing, america has a we have ticking time bombs that i believe are legitimate, government debt, pension situation. is i think that student loan debt is a ticking time bomb, why does this ebola/isis crisis have such a grip.>> it can directly , student loan may blow up, but if i don't have any why do i care. charles: it affects the economy. >> it does but i don't feel it myself we're selfish people, if

i can get sick and die, fine. if my neighbor loses his house because of his student loans that does not affect me, i still wake up in the morning. charles: i remember, there was that anthrax in the mail scare, i man in my office was afraid to open any letter, i said there is such a limited supply, why would they sense it to you, he was afraid. >> people get scared, and worried in the fear is escan lateing. it is -- escalating. it is a concern, people hear it everywhere, you can't turn on radio or television and not hear about ebola, it is, impacting the u.s. today, we talked about nurses. i want to bring that up, that is affecting job market, nurses at a 2% unemployment that is almost full employment right now in dallas, there is more of a need for nurses.

that we have cline client pay ns 10 to $15 mormon hou15 moran hon -- more for an hour to work in dallas right now. charles: that is the good part but retail side, what happens people stop going to movies and restaurants, people sneeze in public everyone will start scattering. >> we have to separate, this is the hollywoodcasion of this disease. charles: is it working. >> yes, people are getting are afraid but we have to keep it in perspective. charles: in a minute i am asking johjonathan to step back. >> i am moving over here now. charles: i am fine. water, lysol and a mop, go ahe ahead. >> i'm sorry, hingea. >hitha.>> he just flew in today.

>> keep it in perspective, people die from the flu or asthma. >> the thing is ebola is second to talk about. charles: we have breaking now right now record given to associateed press show 70 hospital staffers involved in care of the dallas ebola patie patient. we'll just let you know more about that, jim, numbers like that grow, one more patient, maybe outside of a medal establishment -- medical establishment, still questions about how this nurse could have gotten the disease with the correct protocol. do you see a points where we could see impact the economy? movie receipts come in ra at lo? >> we're aways away from a

material impact on the economy, we have one death, few illnesses, until this hits new york city subway or starbucks or mcdonald's it is a lot of hype. the other issue, student loans and mortgages, and aging population, deficit, these are far more important, i do know that ebola. >> put it in perspective, we have worse flu outbreak last winter, everyone was sick people went out and spent. charles: all right, one of you want to know if a stock is a buy, the goal here is to make you money. so i can reach ally bank 24/7, but there are no branches?

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that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. charles: we have tons of feedback, i want to do another ask payne for you. karen article regarding csx, an article about canadian spasific making a bid for csx . i sold a lot of my rails in part because of battle between government rails over the pinker cars i still like them they are a proxy for our economy, csx reports tomorrow after the bell. >> i love rails here any type of pullback is a great opportunity

to get in u.s. sent rick. and i think it is a gaining on u.s. economy, they will move that will happen. charles: i like nfs, more. and kansas city southern more. if you are long csx we're not selling. do you play rails? >> not on my list, i am not a dip buyer, i would buy it closer to 70, than pick a bottom on the way down. charles: that probably works more often than not, you have to have these times there are major market fluctuations and times when an opportunity will be created. we'll get more into that when we come back.

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try lifelock risk-free for 60 days and get this document shredder free -- a $29 value -- when you use promo code go. call now. charles: all right, guys. time now for the marching orders for tomorrow. obviously i think it almost goes without saying, you don't want to take the early bait. assuming there is early bait. right now, i'm not using charts to figure out where we go from here. the market is oversold, but it's on autopilot to the downside. we talked about earnings. we got a bunch of of them. the banks, we get dominoes pizza. obviously the bank are big. maybe they can turn us around. i know the pain is tough, and it's easy to bail. this is when opportunities are created. it's been the right thing to do is not necessarily to panic per se and to jonathan's point kind of wait for

the turn around, the rally to get involved in the market, but here's the thing the market has been falling apart at three to 330. i don't care if the bow is up 200 points. i'm not buying anything. i want to see how we close. the bad part, everyone is waiting for the same thing. it a tough comun drum. >> i have to agree with you 100 percent. i'm not jumping in tomorrow morning. i own a lot of financials. i'm waiting for that fear level. as i mentioned, the vix. i'm an emotional person. i feel it. i do the opposite of what i think i should do. whistle it, i'll give you a call. i'm not there yet. charles: give jonathan a call. it should be like could -- >> i think everybody needs to sell down to the sleeping point, charles. if you can't sleep, you're probably just a little bit too exposed to let market.

you have to sell something, start with just the tiny positions. start with the stuff that's less than half a percent of your portfolio. call together some of the small insignificant positions. charles: on that point, sell the losers though? >> absolutely. there's nothing new in this game. sell the losers let the winners run. when i look at a portfolio, i look at the tiny little positions that are a waste of capital. to your point, unless the stock gets to be 20, 25 percent where i bought it, i'll let it go rather than to average down. charles: jim, tomorrow. thanks. i'm not a big fan of the banks. i know matt like the banks. >> i don't know if they're going to rescue the market, but i do think the banks are critically important to the market. toimplet what they're doing in terms of what litigation expenses they've got behind them. what positions have they written down or what hf they written up. are they lending more? i think it's very --

charles: thanks a lot. fantastic show. fantastic panel. we appreciate you watching every night 6:00 p.m. dvr if you can't catch it. i'll be with stewart in the morning, but right now lou dobbs. >> good evening everybody, breaking news tonight out of boston's logan international airport you are looking at an emirates airline plane and you can see officials in hazmat suits entering and surrounding the boeing 77 to remove five passengers. the plane flight 237 it landed in boston at two clock this afternoon. all five of the people who were sick claimed they had not traveled to west africa where the ebola outbreak has now killed more than 5,000