♪ cheryl: countdown to the countdown. the housing market moves forward. home resales hit a three-year high in february, and prices jumped. it's good news for online realtor move inc.. the ceo joins us in a fox business exclusive. does apple's stock look juicy? even on the eve of the blackberry 10 release, megafan brian white says, yes. why he thinks the stock is set to nearly double. plus, is the market headed for a pullback, or is it off to new record highs? it is a street fight. of our bulls and bears battle it out. "countdown to the closing bell" starts right now. ♪ cheryl: i'm cheryl casone in for liz claman. it is the last hour of trading. let's get you up to speed. it is the worst day for stocks in almost a month. the dow is down 128 points, it was anyway, at its session lows of the day. we are now down 67. now, we hit a record intraday high yesterday for the dow, so this may be a welcome, actually, breather for the market today, especially if you want to pick up some cheaper stocks. now, rumors and worries continue to swirl around cyprus' future, sending the euro lower against the dollar today. the ecb is demanding a plan by monday. now, society general saying it is time to sell gold, buy oil, saying better economic conditions may lead to the end of fed easing sooner rather than later. gold moving higher today, the oil market is feeling so much pressure down about a little more than a percent. nine of the ten s&p large p cap sectors are moving lower today with the tech sector one of the biggest drags on the market. two of the biggest losers tumbling double their normal volume after earnings reports disappointed investors. you know these names, oracle and jabil circuit. oracle down more than $3. that pressure has been consistent throughout the trading session today, jabil circuit is down 87 cents. one of the best performers on the s&p 500 today is ross stores, getting an earnings bump after a strong fourth quarter. and that stock is up, rost is the ticker, that stock is up more than $2 right now. let's get right to our floor show. we've got graders that are standing by -- traders at the new york stock exchange, the cme group and, of course, the nymex. doreen, hello to you. i'm curious overall what you're looking at at this point in the session. we got the fed yesterday, today, you know, the economic data seemed pretty positive, now we're down 61. what's going on? >> i think the economic data's pretty mixed. the initial jobless claims, i don't think the jobs numbers were fantastic, they were kind of right in there. but the market looked very, very tired the last couple of days. i think we're starting to see lower highs, and i think we're starting to really kind of consolidate in smaller range. you know, volumes are still pretty light, so i think people are getting very tired. i think tired. it's time for a little bit of a correction, i think, although overall market probably trends higher in the near term, but maybe we're going to take a break in between. cheryl: okay. some of the names that are leading the chart, certainly, doreen, one of the big -- i was just mentioning oracle and the technology sector overall. it's a bit of a surprise to see tech dragging things, especially those earnings numbers coming out of oracle. what'd you make of it? >> we've been spoiled with earnings, they've been very good, and now we're starting to get some mixed reviews and a couple of misses on some very big stocks, so that's giving people a reason to maybe take a little money off the table. cheryl: okay. kind of a correction that makes sense finally. let's go to the cme and ira epstein. i was just looking, obviously, at the euro versus the dollar, what else are you watching? >> well, i'm watching the gold, and i'm watching the silver because they're both trying to, if anything, create a bigger trading range, in other words, break out to the upside of their trading ranges. silver yesterday tried the downside, failed miserably, reversed today almost a full dollar higher. so those markets are starting to pick up on the cyprus issue, and that's what they're looking at at this point. the stock market, also, if it's tiring here -- which i think it is as well, i think the momentum's losing some of its peak there -- i think it'll pull back. i'm not talking a bear market, folks, i'm talking a correction in the market, and sometimes you get rotation between currencies, the metals and the stock market, and going into cyprus, that's exactly what i think is going on. cheryl: all right, over to the nymex and jonathan. he was talking about gold, he was talking about oil but, of course, oil is another story here. we are down today more than a dollar, jonathan. what do you see the pressure on oil is? is this kind of a normal rotation in and out of the contract, or is something else going on here? >> i think it has more to do with what's going on in cyprus a bit. we've been jumping from news event to news event. the fed helped rally us back yesterday, this morning the economic news was kind of mixed it seems like we're kind of event-driven right here, but it's likely we're going to stay in this range between 90-95 going forward. most likely, something will probably happen with cyprus. but until then, you know, they keep pushing it to the back burner, so it's sticking around a little pit more. i think be we got away from that, we'd probably be pushing $95 right around hoar. but the fact that, you know, this risk is still out there is keeping, you know, futures kind of sitting and, in addition, we have option sol adult kind of hanging around the 18% mark right now. cheryl: all right. we will continue to watch all the events happening oversea is the and in this country. thanks to all of you, appreciate it. after hitting another intraday record high i in yesterday's trading, we were all here together, remember? the dow is pulling back today on concerns over europe, cyprus, obviously, and some mixed economic news. is this rally finally due for a correction, or will benchmarks continue to climb higher? let's have a street fight. we've got ned reilly, reilly asset management founder and ceo, weighing in as our bear, john -- [inaudible] senior portfolio manager. and i think i'm going to start here with you, ned, on the issue of, you know, we've had this great rally. we've had these big numbers coming out and, obviously, everyone is kind of getting cautious, getting nervous. that makes sense. what do you say to those that are looking for that new high on the s&p maybe by the end of the trading week? >> well, i don't know if it's trading week or if it's another month before we hit a high in the s&p. this has been the rodney dangerfield kind of market, getting no respect whatsoever. [laughter] people talk about the retail coming back into the marketplace. we've got to consider the backdrop that in the last four years retail investors have sort of dishorded $400 billion worth of equity mutual funds, and the first six weeks of this year was a small pittance that came back into the market. retail is still scared. they don't believe it, they're still skeptics, and i like that backdrop. that's a great, positive backdrop to have. you buy when the news is bad, you buy when the kept isics are out there, and you sell the heck of out of market when everybody is optimistic. and i think we're in a great school backdrop right now. cheryl: ideal economic environment, you're looking at the economy even though we had kind of a mixed picture today and then, again, corporate valuations. that's the bulls' side of this. john, i know you're bearish. you're calling for serious corrections on the s&p and dow. you're saying it's going to happen sooner rather than later. what are you seeing on the other side of the coin here? >> well, look, when things are euphoric, which they are, when alan greenspan comes out and says pie stocks along with the movie stars and, of course, our good friend, ned, then you should be looking to sell. and i'd also like to say this, i was on the show here last april 2012, we were pounding the table then, but right now you've got some real headwinds, and i'll give you a few of them. one, gdp is benign, .1%, you know, in fourth quarter of 2012. analyzed numbers are running around 2%, it just isn't keeping up. unfortunately, the treasury market is not confirming here. you know, if the ten-year was at 275, i'd say we'd probably leg up here, not happening. you know, and i think, thirdly, look at earnings. look at oracle, look at fedex, and look for a lot of disappointing earnings, you know, particularly here in the next two weeks, you know, coming at us. so that's really the bear case here. you know, cyprus is system you can and is definitely going to bring some pressure here. if you look pack when we went through this with greece, the markets lost almost 16%. you're going to get a mini repeat here. i think look for all these major market averages to come back to their moving averages, the 200-day moving averages is kind of what we're looking for. cheryl: you're also looking, jon, i want to stay with you quick on this, you're looking for a very sharp pullback in the next 60 days. can see your reasoning about the second half of 2013, that i understand. but you're looking for s&p 1428 to 1430. that's a very bearish call on the s&p. >> this is just the 200-day moving average, that's all that is. cheryl: okay. >> it's really a technical issue, but, you know, look at the fundamental backdrop. and i appreciate what ned's saying, but look at the fundamentallings. this thing in cyprus, everybody says, oh, it's just a million people, who cares, bunch of criminals, who gives a darn? it's a big deal, and really the bigger deal is there's no basel iii in place, and the ecb still hasn't gotten it together. that's the real problem. cheryl: ned, you're bullish on europe. go ahead. >> i am bullish on europe because everything is being done to try to stimulate growth. jon, i have to disagree with you here. on the profit side of the equation, things are flattening out. but if you consider where we've come from in the last four year, we've had miserable gdp growth, and we've had profits more than double. look what's going to happen in the next two to three years. we've got europe that will recover, notwithstanding what's going on in cyprus today. we're going to have the far east start to recover, u.s. exports are going to start to explode once this momentum starts. profits are going to move from this level, plateauing, to a much higher level than the market ever anticipated. slow growth is actually long-term beneficial for asset prices because inflation stays low, interest rates stay low. it's when the fed starts to get concerned about a 6.5% unemployment rate and the fact that the economy's growing too fast. we have a surplus of resources, we have a surplus of capital. we don't have labor in there say, hey, i want more money, i don't want benefits, they can't get them anymore. productivity is the word of the day. and the final piece i'd like to make of this, liquidity is just coming out of our ears. cheryl: okay, fair and balanced, i want to give jon the last word. go ahead, jon. >> look, what ned's saying is, you know, we have a surplus of this, economic growth is great. but, look, the dollar moving up is going to hurt repatriation particularly the large cap multi-nationals, so look for earnings to be disappointing, look for more oracle disappointments, more fedex disappointments, that's right around the corner. in addition, look for gdp to be benign, and as far as housing starts, look for those to tip over. all the good deals are gone, so the housing market play is kind of over. look for a retracement here. look, we were the number one performing total return fund last year, we did 15% with 75% less risk than the s&p, and i would tell you to take some of your money off the table here and park it on the shrineds. i think -- sidelines. i think you've seen the run for the year. we park it here. cheryl: i need two million to get into that fund, that's the problem anyway. john and ned, thank you. you both made excellent arguments. i'm going for a tie, you both made excellent, excellent points. ned, john, thank you. we'll see you very soon. closing bell going to ring, we've now got 49 minutes to go, and sales of existing homes hitting a three-year high last month. prices moving higher as well for the month of february. all seems to be good news for online realtors. shares of move inc. up more than 50% so far this year. should you be using this company to build up your portfolio? ceo steve burke wits joining us coming up next in a fox business exclusive. ♪ thank you orville and wilbur... .amelia... neil and buzz: for teaching us that you can't create t future... by clinging to the past. and with that: you'reistory. instead of looking behind... delta is looking beyond. 80 thousand of us inveing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleast gas turbines are now powering some of america's biggest cities. siemens. answers. investor. yeah, ibut i'm a busy guy.or it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to knowxactly how much i'm paying. i want to use the same stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risk charges and expenses. read and consider it cafully before invting. risk includes possib loss of principal. cheryl: power mover of the hour is jumpn its market debut. the ticker is enta, stock is trading extremely higher today, up more than 18%. it is the second early stage drug company to launch an ipo in this week, actually. it's getting a nice reception from investors in its debut. on wednesday ttph had a tepid stock market debut. it closed basically flat. they offered it at $7 a share, and that's where that stock came in. there's enanta, enta, much better reception for this stock today. home builder kb home is constructing gains to its stock price today. let's head over to nicole petallides on the floor of the new york stock exchange. nicole? >> reporter: well, we're taking a look at kb homes actually hitting a new high. they came in with quarterly numbers, and they were impressive. the talk on the street by the analysts was kb home had been lagging and they had to step it up in 2013. they certainly tried to bring it here today, the stock is up about 3%. they came in and said their fiscal first quarter loss was narrower than expected in addition to the fact that they had doubled increases in deliveries and selling prices for houses. more orders, 40% year-over-year gains in the net orders, so that was some good news there. we are seeing it, as i noted here, at a 52-week high. let's take a look at some of the other home builders. we did get in existing home sales, actually, which came in earlier today, the highest level in three years. but you can see lennar, pulte, dr horton and toll brothers a winner. cheryl: certainly stocks to watch today. existing home sales today hitting their highest level in three years, and one company is moving new properties for sale onto its web sites. steven berkowitz is the ceo of move, inc. which runs realtors move.com. we know these names. you must love, steven, seeing data like we got today from nar that shows that inventory, incredibly low; prices, heading higher. >> yes, cheryl, it couldn't be more exciting. i mean, it's nice to see after four, five years of difficult times to see, you know, homes back in the fore front. cheryl: you know, you run these web sites, you're listing these existing homes. most home buyers, home sellers use realtors. realtor.com, obviously, a site that had when it launched years ago tried to change that. when the market was lower, did you find that you had less interest because, basically, home buyers and sellers felt they needed that professional help to get the right type of deal? >> well, actually, what's great about our business is we actually connect consumers and real estate professionals together. so, actually, even in the difficult times of home prices we were able to because of our brand actually be able to help connect those consumers with those professionals. and we're seeing even more need for professionals today. cheryl: with the existing inventories coming in today, and that's the bulk of the market of course, as you know, i'm assuming that is going to be a huge bonus for your web site. but with the existing home inventories means that builders are trying to compete. they're going to be competing for you with existing home sales. how do you kind of keep them at bay? because you been successful thus far. >> well, first of all, i mean, new homes are available on realtor.com as well as our web site, movenewhomes. we actually see both sides of the world. we just want to help homeowners find a place to live, so for us it's great to see this supply and demand, the shortness in supply actually makes our web site even more important, and our mobile apps even more important because we're updating our listings every 15 minutes across the country as well as the builders. so it's really exciting for that. cheryl: that's interesting. i would think the existing home sales was kind of your bread and butter. obviously, you're competing with the more well known names, you've got zillow, again, this is the consumer that is finding they do want to do it themselves, especially now with interest rates so low and a lot of movement in the market that we're seeing this spring. what do you think that you can offer that trulia and zillow don't? >> we update the listings every 15 minutes which nobody else does. so the ability to see a house rurally come on the market, and in today's marketplace, it literally goes off the market in the same day, and we'll tell you, right? so instead of just seeing the line in front of the house for an open house now which you're seeing more of, you're actually literally seeing the vitality of the home market happen right on our web site and especially on our mobile apps. today you drive by a house, the sign's still up, we'll tell you if it's no longer on the market. cheryl: okay. let's look at the technology. one of the thing that is' driving your sight, not just the fact of desktops across the country, but the mobile app is also finding more and more success and even, frankly, "the new york times" is competing with you on that one, steven, with their app for the home buyer. talk about the technology side of of the business. >> well, the technology side of the business is about being innovative and being quick, and mobile is an area that we're leading on. i mean, we launched a feature about a year ago where you can literally draw a circle around where you want to live or draw the street where you want to live with your finger on a mobile app. and when you're literally driving around the neighborhood -- hopefully ott as you're looking at the app concern but you're literally able to see what's happening in the marketplace as if you have the realtor in the car with you, and that, to us, is just the way the future's going. cheryl: steven, before i let you go, i am curious, are you seeing subscriber growth? >> yeah, absolutely. we're seeing large growth in unique users especially on the mobile apps. definitely almost triple-digit growth in both page views and