Just ahead. We do begin with the markets. Oil prices have moved higher at this hour. The disney downgrade weighing on the dow. Lots of folks wondering whats in store for your money now following this weeks fed hike. Josh brown, what is going on over the last couple of days. I think accident scott, that people are pulling their money out of the stock market to buy tickets to star wars. Its as much as 200 online. We have to factor that in. Since the feds announcement. The s p financials are down 3. 5 since the fed decision. Bonds are up. Bng, which is the total Bond Market Index Fund from van garde. Its actually up. 4 since the feds decision. Everybody says, hey, theyre going to be the best sector to be in. When the fed is in a rate hike cycle, whats going on . For having fixed income instruments is still there. However, i think it will be shortlived. I think this is just a blip, and that well see a shift into equities. In terms of the market today, you have the expiration. Thats a major issue. You also have people taking off. Theyre leaving for the rest of the year. So many people i have spoken to and theyre derisking. Theyre chicking out and have one foot out the door already. Yes, yes. Mike, you have been thinking about this notion of going from bonds to stocks as well. You did have one of the biggest out flows from bond funds. I guess people flinching because of this Federal Reserve move ahead of time in the prior week. Now, you havent necessarily seen that go directly into equity funds. Whats interesting, though, is all the yield sectors, all of these bond proxies like utilities and reits and a high dividend yielding stock has had a bit lat four days. Kind of blurring the lines a little bit. Bonds will go straight down, and yet, somehow these yield oriented stocks are i think whats interesting is the general setup in the stock market, the s p 500 yields almost exactly the same as a tenyear treasury right now. Historically thats been a pretty good time. Historically in recent history its been a good time to bet on a rebound on the equity side. Everybody was spokesed on the word gradual. I think that was a mistake. I think what janet yellin here is theyre playing both sides against the middle. Theyre leaving some very dovish language in there that will make it seem like they had this plan if they have to go dovish, but theyve got those Economic Projections at a hawkish four Interest Rate hikes for neck year. If they get tough with the markets, the markets cant say, well, you didnt tell us so, and i think the markets are focussing on that today. I think thats just a reflection of whats going on in europe and the rest of the world where, you know, still at 2. 2. The tenyear treasury is the best game in town. Oil is going up today, and the stock market is down 250 almost. 225. At the same time same day. The open interest, in other words, all these contracts out there can have a very magnetic affect, and this time, unfortunately, the magnet has been pulling them to the down side. I would say, unfortunately, i think we could continue to continue that into the end of the year, but then i think we could see that significant bounce that you might have mentioned. Still maybe still about 20 on the year in the s p. The stocks that are doing anything is so small. Its that fang group, and can you throw in a couple of baskets of other things. Otherwise, the breadth of the market is ugly. History says that ultimately the average will succumb to big names. Well get hit. It depends on the time frame. If you are a shortterm trader, maybe. If im a true investor and looking to create value over time, like the Great Investors do, im going to look at the benefits of having stocks down 20 of average. Ultimately what emerging markets cares the most about is not the 25 bix. Its what the expectations of hikes will be and what that means to the dollar. The dollar has been the biggest headwind for emerging markets. The market pricing, what, two hikes next year. They are saying four hikes. To me that means that theres potentially more up side to the dollar. Even though frens, you mention energy the dollar is down today. Theres also kind of a negative relationship that comes into play. Ultimately for us the big question is the dollar rally done. To us we think maybe threefourths of the way done. Not quite there. I hear a lot more people, especially in the last few days. Everybody can opine on this one. The market kind of gets ahead of it. My question to you would be has a fed chair ever effectively said were going to get a heads up to the emernling markets before we do it . Isnt that what you basically said . Yeah. She actually mentioned emerging markets in her phrase. I was, like she said actually good things about it, which are tremendous. About time somebody has given my people some respect. It usually doesnt happen. We think it is. There is no leading indicators that tell us that theres a liftoff. From that perspective, its very hard to get excited at the asset class level on emerging markets. Having said that, valuations are close to actually august lows. For us were going to be in the asset class regardless. The question of where within emerging markets were finding thats exactly where i want to go. The biggest overweight is russia, and that makes me nervous. Is that the best thing can you find in the emerging markets . Well, listen, russia wra is up somewhere around 7 for the year. Its flat. It actually had been a fairly good investment. Thats exactly what you are seeing in russia. On the dollar. Its actually starting to perform well. All you need is normalization. You wont need growth when you have these type of valuations. On ner places like india, mexico, you need growth to justify the value wags. Russia wra is one of those places that usually goes back more than they used to be. Let me ask you one last question. The effort by the chinese which is so overt, its going continue to go too as the devaluation of the currency. The impact of that continued move, and a continued move is what its going to be, is going to have on the emerging markets. Its a great question, and the way that we look at it, the more danger there is around that, the more danger actually that is presented in the commodity countries, right . The brazils, the chiles. Not chinese stocks themselves. If you look at the chinese stocks, they are basically banks on industrial companies. Its better for the fed its one of it seems contradictory, but the more theyre around that is correct the more overweight we are chinese equities within em, and its actually wrout perform in that environment. Its good to see you as always. Happy, healthy new year. See any 2016. All right. Look forward to that. Andreas, thanks as well. Great weekend. Back to september 1st for stocks that look as ugly as these are have. Bpig isnt buying it. We debate the sell call on disney. It is our call of the day. Pharma ceo, Martin Shkreli is home after posting bail. Meg terrell joining us with the latest developments from outside his apartment. Next. Youre watching cnbc first in business worldwide. Santa has a magic snow globe for every family. And this year, look at what he put in our driveway. The lexus december to remember sales event is here. Lease the 2016 es350 for 349 a month for 36 months and well make your first months payment. See your lexus dealer. I finally did it ew, you did it all right. Let sparkle paper towels clean it up. Do the math and youll see sparkle costs less. Plus its perfect for cleaning spills. Desktops. Windows. And chalkboards. Now thats what i call clean. Too clean . Sparkle. Because its a messy world out there. Mr. Khrkreli posting bail. Meg terrell live outside that building. Meg where are. Hi, scott. The latest is that bloomberg and wall street journal are citing sources saying that shkreli is close to stepping down as a ceo of tu aring pharmaceutical. Im also hearing there is tremendous pressure from investors for him to do so. We have reached out to shkreli as well. We have not yet heard back from them, and we will update you with any news. Yesterday the company putting out a statement saying that legal matters concerning the founder and ceo Martin Shkreli are bernl and are no bearing on Turing Pharmaceuticals. Just to recap, he was arrested here at home in manhattan yesterday by the fbi. He is charged with seven counts, including securities fraud. They called it eye ponzilike scheme. It involves complex accounting matters that the u. S. Attorneys office for the Eastern District of new york and the s. E. C. Failed to understand. Saying that his accounting was just too complicated for the s. E. C. Back to you. Thanks so much. Meg terrell with the latest outside martin hkrelis Apartment Building in manhattan. We are, as p know, in selloff mode. Want to take to you the dow heat map. Two main culprits, disney and boeing. Both stocks getting downgraded. The boeing downgrade certainly hurting that company and hurting the dow. Those two disney and boeing, the worst performers within the Dow Jones Industrial average. There is Goldman Sachs at the bottom. The 0 price target. He explained why he made that ca call. Global box office. Were not taking the negative view to star wars. This is all about cable networks, which is 45 of disneys operating income. Its weighing on the stock. A bit of a party pooper. Star wars comes out, down grades the stock at 10 00 this morning. Things are neither here nor there. He didnt get a private screening. I think disney is a quality company. We talk to a lot of people and funds that own it. Some sfundz short it. The ones that own it arent ignorant about the espn issues. Theyre just making the bet that they can stem the cord cutting so to speak. I think its up in the air. Right now its going to be a market stock. If you are positive going forward, im staying on the sideline at this point because there are too many issues where are star wars, however, is not one of them. 25 over the last 12 months, even with the recent its up 15 yeartodate. To some extent, but its not a oneday event, star wars. Theyre talking about having a new movie coming out every 18 months for the next decade. You are buy or sell disney because of star wars opening witness. Were playing a different game than the one in the real word. There are theme parks. Theyre putting up metal detection theme parks. If you get, god forbid, an incident at one of the theme parks, i know some of the people are thinking about this, then traffic goes down. Heres the issue. What is more priced into the stock right now . Weve known this. Thats what im saying. Downgraded the stock in march of 2015 no to neutral from a buy. He already made the espn i dont agree with the call. I dont agree with the call. The stock trades at Something Like 19 times the four to 12 months earnings. With a stock like this with the growth rate it has, the peg ratio is 1. 46. Thats really attractive for a company of this quality and what josh was saying about the movies coming out is exactly right. Everybody knows that espn is an albatross right now. That thing can only get better, frankly. This valuation is terrific. I want to point out the stock play. For them to have a direct relationship. The cord cutting goes so far. Theres a lot of it that says that people once break apart these packages that you get from cable, that espn is one of the losers there. Then the direct relationship that they have where people are subscribing directly, i dont think thats properly accounted for. I dont think its built in to the model yet. I bought it last week when it fell below 108. Got down to the 50day moving average. Rallied up to 113 this week. I banged out a ton of calls. Theyre all expiring today. Im going to get right back into this same position and do it over and over just rinse and repeat. I think this thing is just a money machine. Give me more, guys, on why you think the market is doing what its doing today, and the fact that the sectors within the market are leading the charts to the down side. That being utilities. You know, yields are down. They were the best performing sector too. Bonds would basically hold where they are, but bonds are counter intuitive to whats happening with them. Its a big sellingoff, and they were a leading group theyre expensive. Two really positive days. Tuesday, wednesday. We hit thurts. The s p is flat on the week. Its flat on the week. Frankly going into a week first rate hike in nine and a half years, i think thats actually a win. When you look at Something Like boeing today or disney, you know, boeing in particular off 3 on this downgrade. Its still above 140. If it gets cheaper, im going to bay more of that. Its a Terrific Company and a good opportunity. Gold is making a move higher today. Is the risk off trade back in vogue . Plus, he is one of the top ten Financial Advisors in this country. According to barrons. He says the market is not in a good place. Rick worries for the new year are just ahead. A programming note as well, the president holding a News Conference today, 150 or so. How else do you think he gets around so fast . Take the reins this holiday and get the mercedesbenz youve always wanted during the winter event. Hurry, offers end january 4th i built my business with passion. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Well, fast money halftime report. Im courtney reagan. I just got an update from first data. This is a company that has merchants 1. 3 million merchants. Theyre giving us an update on total Holiday Spending so far this season. A strong increase of more than 11 for those sales. General misdemeanor retailers, like big box and department stores, seeing sales growth of more than 4 . The losers, however, include sporting goods, hobby, book and music sales down 3 . Clothing accessories, electronics, and appliance sales down more than 1. 5 . Scott, back to you. Okay. Courtney, thank you so much. The retail index selling off by 1. 5 . Perhaps adding to some of the pain that weve been seeing throughout the session. Also seeing gold prices move higher after todays after closing yesterdays session at the lowest level since 2010. Jackie deangeles at the nymex. Good afternoon to you, scott. Thats exactly right. Its about 1 move. 17 pop for gold prices. They did have the worst daily loss. Yesterday since march. Jim, on yesterdays futures now show, you told me you wanted buy gold. Are you sticking with that trade . That trade is objective, and it made me more the stock market was holding in after the rate hike. The stock market is 15 handles lower. The tightening cycle may have just changed to a tightening. What is ellevel like for gold . Look at the costs here. 1,100. That was in july. A lot of volume. A lot of change on gold. Its above 1,100. December 3 reasonable doubted was at a low. Be careful. Okay. Thanks. Scott. Back with a live show. Futures now cnbc. Com. The futures no folks, see you then. Coming up, investing with acronyms. One says to forget the socalled fang stocks and focus on bangels. Well debate what some are calling the new internet darlings of 2016, and speaking of fangs, why their performance as one of barrons top 100 Financial Advisors very worried. Im here at the Td Ameritrade trader offices. Ahh. Steve, other than making me move stuff, what are you working on . Let me show you. Okay. Our thinkorswim Trading Platform aggregates all the options data you need in one place that lets you visualize that information for any options series. Okay, cool. Hang on a second. You can even see the anticipated range of a stock expecting earnings. Impressive. Whats up, tim . For all the confidence you need. Td ameritrade. You got this. Im sue herrera. Following the house the senate has passed a 1. 1 trillion spending bill that will keep the deposit running until september of next year. It also lifts the u. S. Crude oil export ban. It now goes to president obama for his expected signature. The Democratic Party has cut off senator Bernie Sanders president ial campaigns access to its voter list. The action follows a breach of data compiled by Hillary Clintons president ial campaign. Sanders Campaign Says its in communication with the dnc regarding the breach and is trying to resolve the matter. Fiat chrysler recalling their 356,000 Jeep Cherokee suvs worldwide. To fix a water leak that could cause an electrical short in the power tailgate. The recall covers the 2015 and 2016 models. A Wisconsin Company is gearing up bigtime for the newest star wars release. The electronic theater control is shutting down for the day as the ceo treats all 800 of its employees with a ticket to see the force awakens. It is actually renting 19 bugses and ten screens at a local multiplex for the view. Thats the cnbc news update this hour. Scottie, back to you. Joimgs to make sense of the move of the markets and where stocks could go from here is the cio of hightower treasury partners, number six on barrons list of the top 100 Financial Advisors in this country. Welcome back. The fed hikes rshgs im one of your clients. Rich, what do i do now . What do you tell me . First of all, we have a very ugly tape, so if you look at the s p 500, the stop ten names are up 19 . You have a high yield market thats lempled. Kov nabtlike debt, and have you an Energy Sector thats starting to implode. Finally, emerging markets as i have been talking about repeatedly, theres 3. 8 trillion worth of u. S. Dollar denominated debt that they have to repay with weakened currency wrs wrshz. We want to actually were raising our hedge funds this year as we are getting equity participation with some protection. We want to maintain shorter durations in our fixed income portfolios. On the equity side, keep in mind that growth is widely outperformed the value stock. Is that changing . Youre basically making a bet for oil and pharma. Jeffrey gundlach says it could be the worst in the market. I want to react on the other side. Were in a biforcated markets. You have fang versus everything else. Yes, its an issue. I dont think that lee thinks its going to lead to the end of the woshld in the market. Do you think its more severe than sh others think . Its going to take time for the e to catch up with the p. We need some earnings growth. There are two sect ors that we actually like in here. One of the banks. The other one is the home builders. They 750 dollars. We got a beautiful boost with the tightening that occurred. Theres also other rates are going down. I dont know whats up with that. On the longer end, we have a flattening of a curve. The home builders, we have household formation that is going to increase. Its actually now the highest its been in six years. Mr. Cooperman sees a 7 to 8 total return. Where do you come down . Right around 6 to 8 . A lot of volatility. Well see a lot of this grinding in the marketplace just like were seeing. Hey, rich. You know, you laid out a lot of risks there, and certainly i see them. Others see them. What are the things that the Investor Sentiment is getting really, really bearish, and its been picking up steam for the last couple of weeks. Usually thats a tell that the markets are going to correct to the up side here. Were already up 6 , okay, from the may high. You know, i think were ready for a correction in the other direction. Allocated on u. S. Bonds, long equity, and hedge funds. You maintain equity positions, because youre going to buy bonds now. We could see that grind upwards. Seasonality, it should work in our favor. What about outside the u. S. . Are you europe is still far behind the u. S. In terms of recovery and any type of earnings growth. The margins havent peaked yet. There is room there. You see it developed here. Forgetting about germany. They have competitive issues with china wr uan. In europe its three years behind america, and its a burgeoning ecb. Fed tighterning. Ecb opening, and euro zone equities are cheaper than u. S. Equities. Nonu. S. Equities. The problem is we have to be right twice. We have to be right with the currency. We have to be right with the equity. Where do you have to be right with the currency if you do it if you do hedge funds . Were in the u. S. Dollar eclasses. We have 25 europe. We are using etdj, e the currency hedge nonu. S. Equity. I just want to point everybodys attention to the very bottom of our screen and the breaking news that we have at the very bottom, which is that Martin Shkreli, the ceo or now the former ceo of Turing Pharmaceuticals, he has resigned he and a swra by the name of ron tillys has been named the interim ceo of Turing Pharmaceuticals. There, of course, the scrum yesterday once mr. Shkreli was released from custody after posting 5 million bail returning from that scene right there to his manhattan apartment where our meg terrell has been outside ever since. Seven counts against mr mr. Shkreli. Two counts of securities fraud. Two counts the attempt to commit securities fraud. Then three counts of the intend to commit a wire fraud. That is what mr. Shkreli is face, and now he is no longer the ceo of Turing Pharmaceuticals. Rewell see any 2016. Sounds good. Okay. The question now is it time to forget the fang stocks and instead bite into the bagel trade . Mark mahaney out with a note naming his top tech picks, and they are alibaba and, hence, the b, baba, amazon, alphabet, expedia, and linkedin. What do we think about this . I love bagels. Byebye fangs . Theres a lot of Investment Styles out there, and theres a lot of different ones on this desk. I have never heard of the acronym investing style, and im not going to start following it now. You actually have four themes that i think might do better. Its internet. Its security. We want to talk about Interest Rates, and we want to talk about sustainability. In manhattan the very latest. Just getting news out. The ceo of Turing Pharmaceuticals. They are aparting ron tillis to the position of interim ceo. Ron tillis has been chairman of turing since its founding late last year. They say they wish shkreli the best xshgs they thank him for helping them build Turing Pharmaceuticals to the Dynamic Research focused company it is today. That is potentially all they say about him in his statement. Again, he was arrested yesterday. Charged with seven counts of securities fraud. The government saying he was running his Old Hedge Fund and old company like a ponzilike scheme. The news Martin Shkreli stepping down as turing ceo. We have reached out to him and the company. He has not yet responded to us is the statement from an outside representative. Scott, back to you. Meg terrell, thank you so much. Up next, lots of big movers in todays market. Most of the down side from carmax to under armour. We break it all down. Youre watching cnbc first in business worldwide. [ girl ] my mom, she makes underwater fans that are powered by the moon. [ birds squawking ] my mom makes airplane engines that can talk. [ birds squawking ] my mom makes hospitals you can hold in your hand. My mom can print Amazing Things right from her computer. [ whirring ] [ train whistle blows ] my mom makes trains that are friends with trees. [ train whistle blows ] my mom works at ge. Coming up tomorrow of the hour on power lunch stocks selling off for another day. Three stocks for your 2015 playbook. Besides high yield bonds, some still see an opportunity in the space. Well speak with one of the highest Fund Managers on the street. The president is set for a News Conference at 1 50 p. M. Eastern. Of course, that will be in the middle of power lunch. Owe we will carry it live. Make sure you join us top of the hour. Back to you. Lets bet tote the bagel stocks. Forget the fangs in 2016, and he says move on to alibaba, amazon, alphabet, expedia and linkedin. Buy rags on all. Healthy price targets for them all. Josh, i interrupted you before. I was just making fun of this. I dont like this type of invising. I do own baba and i do like linkedin. I do think the idea of coming up with six or seven names putting them in an acronym and then tracking them for the year, its a little bit corny, and probably there is a great name on that list, and then probably theres something that completely blows up this year, and its really hard to know whats what. Doc. Doc, whats your favorite name on the list . Linkedin. It plays to 300 price target. Excuse me. Between security and customer relationships, crm, if this was on the list, which it isnt, but i put crm in there, and i like customer relationships and, lie like swrob market, and i think linkedin plays into that. Crm could be short for cream cheese. You got to get yeah. Whats a good l . Linkedin. Lets quit while were behind. Weiss. Okay. I like facebook. I think facebook is a unique franchise. Were going to bet on the it was on the screen. Its par his new strategy, whitefish. Thats make sure you are just sliding the you really got to like i said, weiss. What names do you like on the list . Facebook was on the screen. I like linkedin, and that would have to be honest. I think google is probably the safest play because its got the most reasonable lets try to conduct a show here. Google you took it off the rail. Now youre trying to put it back. My prerogative. Okay. Google. Okay. Alphabet. Okay. No, sorry. I was just calling him bobby brown. His prerogative. What kind of bagel do like . You guys dont get the hinted. Were done. Financials leading the way lower. Lets look at some of the names hitting 52week lows today, including tiffany, macys, kansas city southern, baker hughes. More half after this. Time now for our trader blitz. Four trades on four stocks making news today. First up, lennar is selling despite beating estimates. Jimmy . Probably down just on the presumption that Interest Rates are going higher. Look, this stock the whole year has been up and down from the mid50s to the mid40s just with the strength and he beiebbing o strength in the Housing Market. I think the Housing Market will pick up steam in 2016. Its not a bad name to be in. Josh, carmax. Yeah stock down 9 . Because you could say that this is just a very temporary problem, not a longterm, and i wouldnt throw this name out just on a bad report. Okay. Mizuho begins coverage stock of under armour. A 95 target. Stock is 8 under the 50 day moving average. Thats a level it has to retake. It rallied 1 and then sold off. I think you do want to own this stock right around 80, 81 where its trading now. Steve weiss, garden raising the dividend and the outlook as well. They beat on every factor and they raised their dividend. Its been much more maligned but, hey, its had a nice pop. I still am suspicious of this class, particularly shake shack. Give you a check on the market again. Dow is now down 275 points. Thats after a more than 200point decline a day ago. Got to go back to the beginning of september to find a twoday move of this magnitude to the downside for the stock market. Want to point out as well that half of the s p sectors are now negative for the week thanks to our data team for that information led by materials which are down more than 2 as well. Industrials, tech, energy, and Consumer Discretionary the worst performers certainly of the week. Dom chu has a market flash. So in addition to the sectors, take a look at the some of the transportation stocks from an industrys president ele protect. The Overall Group is down by 2 . Outpacing to the downside the markets overall performance. Trucking stocks the worst performing parts. Current quarter guidance got cot. Lower than expected rates, a weaker marked for used equipment. You like at c. H. Robinson, a lot of these names are the o ones leading the transportation stocks. That boeing downgrade is not helping matters. Im sorry. I was going to say the dow transports is maybe the worst theyve ever done outside of a recession year. They lost the 200day in april, havent even attempted to get back above. Coal is so much worse than lower gas prices was good for the airlines. Coal for the rails. All right. Good point. Weak to date, materials are the worst performing sector down 2 . Dupont the biggest loser within the material space is down 8. 5 this week alone followed by freeportmcmoran and some of the other companies within that space as well. Dow chemical is down nearly 7 week to date. Just three hours left in the trading day and in this week. Were looking ahead to earnings on deck for next week. Nike, micron, con ag. Well give you those trades just ahead, set you up for the second half of the day and a look ahead. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Victoria stilwell, you appear on tv working with canines. Are you a dog lover, watson . I do not own a dog. But i work with veterinarians. How do you do that . I help them analyse over one hundred thousand pages of medical studies. Thats great. cause they cant exactly tell us whats wrong with them. Isnt that right, rosco . Rosco. Who is a good boy . Who is a good boy . You are. Yes, you are. Watson, i think you need to work on your dog voice. Stocks for the most part at session lows and im pointing this chart out to you now because if youre hoping for any kind of rebound, this is not what you want to see. Wti crude, which had been positive, not helping the market at all, has now gone neg at this at this hour and that has certainly been a correlation of weak oil and weak stocks, so were going to continue to watch that chart for the remainder of the day. Oil now going negative by one half of 1 , a loss of 17 cents. 34. 78 is where crude currently trades. Theres a nat gas which is still hanging onto positive but well see how long that lasts. You know the market closes in three hours. Lets look ahead to earnings next week. Nike reports its earnings. Go to the human mango first. Love nike. I told you about under armour and i think thats an accumulator down here at this 80, 81 level, judge. The mango in me says nike same story. Id like to be in nike next year. I dont have a position right now. Okay. In nike. In mangoes, yes. Better stock right now, nike or under armour. Under armour at this price level. Interesting. Because in the portfolio at least your brother sold out of under armour the other day. Because thats for i know hes trying to get some action. Josh, better stock, nike . What do you think of nike . Nike or under armour . Just in general. I think nick goes just below 120. You probably dont want to be long the name. Look, josh knows more about charts than i do but even i can look at that chart and see its kind of like make or break whether the trend continues up or if the stock sells off after the earnings. That could be a pretty dismal sign for what comes next. Well, you have this sort of technical call on the stock over the last many weeks. He was until nike came out and announced think it was a buyback and a hike in the dividend. Then right back down. Look at the last two months. Its flat and choppy. The reason why you would have to look at technicals is because its an expensive stock. Its a great company, blah, blah, blah we know how great it is. But its very expensive. Youre paying a premium multiple. The only reason you do that is because you think other people are coming behind you. When you look at the neck tickles all youre doing is looking at supply s demand amon buyers and sellers. 120 is an important level. I dont know why. If it breaks below you probably want to do something else. I like nike and not buying it here because it is expensive but if you want a market performing stock, do you it. Micron micron is out tuesday after the bell. Came out and upgraded it. I think today . I think it was yesterday. And theyre not impressed by the fundamentals but theyre saying theyre fully discounted in the stock and they look going out six or nine months that the stock will outperform. It trades up, trades back down. I think the fundamentals are still poor but its probably worth a shot. I just mentioned one thing, i was calling for a taxi earlier and doc came running over. I get a black line across this. Youre there, baby. Guys, good stuff. Have a good weekend. Well see you next weekend. A holiday shortened week. Stock Market Selling off. Power lunch picks up that story now. Indeed we do, scott. Thank you very much. Welcome to power lunch. Along with mandy drury im tyler mathisen. As you see a steepening set of losses. 281 points on the dow, down 1. 66 . The nasdaq off 61, and the s p in percentage terms sort of splitting the difference between those two first ones we mentioned off 1. 3 . The selloff steepening in recent moments. But i think its very interesting to focus on oil for a second because what is happening here as