That's money starts right now.

Live from the Nazac market site overlooking New York City's Times Square.

I'm Melissa Lear.

Traders on the desk or Steve Grosso, Karen Feiderman, Dan Nathan, and Guyadami.

Tonight on Fast, despite the Wall Street whiplash, the top strategist says stocks are cheap and now is your best chance in years to buy.

He will be here to explain.

Plus, General Electric soaring after J.P. Morgan says the worst is over for the industrial

giant, but is a turnaround really in the car it's the traders weigh in.

But first we start off with the Bank Inferno heating up.

The financial is under pressure again today, the sector hitting a fresh

2018 low and it's been a rough week. Month and year for the group now down more than

19% from its 52-week high back in January, this as it inches towards a bare market so how

much worse can it get for the banks what does this mean for the broader markets

guy welcome back Mel great to have you back. So listen, in the spring, in the summer I tried to make a bullish case for the banks on valuation,

on price to book, and at a certain point you just have to say yourself, you know, maybe they are cheap,

but maybe you're wrong as well to try to

defend them and you know I would say early fall I started to say you know maybe things aren't

as rosy for the bank so I ask this is the following this you have to ask yourself

Citibank reported in the middle of October

tangible book give or take was 62 dollars stock is trading 56 dollars today Goldman

Sachs same type of thing 186 tangible book is seventy five if the environment is so rosy

for banks

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