Transcripts For CNBC Mad Money 20240713

Except for maybe jp morgan our American Express or honeywell, or Union Pacific thats right where there are more pluses than minuses, because the stocks are generating pin action, are a lot more powerful than when the stocks generate negative pin action dow advancing 57 points, s p, nasdaq jumping there are plenty of down beat stories out there, and the economy is slowing, chinese, whatever, averages, call it whatever you want, the brexit, the tragic, 737 max plane crashes. We are now learning boeing may have known about the planes flaws ahead of time. The litigation thats pommelling the pharmaceutical industry, and the overhang from this years flood of new ipos, many of which turned out to be gigantic losers im going to flush out those wounds later but what matters most right now is the action in individual stocks see, individual stocks, they have no ideology they wont mislead you theyre not bent, as the cops would say in the line of duty, fabulous british detective story. Why dont we start with applemeapple. You know how much i like to start with apple breaking out to new all time highs, thanks to the incredible popularity of the iphone 11, which is selling much better than wall street expected because it turned out to have this tremendous longer battery, and the amazing camera, perfect for instagram. At the same time, ceo tim cook has been able to navigate himself through the trade war better than anybody else i know, spending time with leadership of both countries, trump, xi, i think this is perfect about who he is. He gave the commencement address at tulane, where my daughter went and stanford. The board of the prestigious Wa University cook spoke to china, state administration for Market Regulation he talked about expanding investment in the peoples republic, Consumer Rights protection, and Corporate Responsibility in other words, cooks not waiting for the trade talks to be resolved. Hes not on the sidelines. Hes on the front lines. Front lines of the trade war trying to calm things down so far its working, at least for apple and its shareholders awarded with a 1. 7 increase guys, this is a trillion dollar country, its not supposed to be able to go up 4. 10, for heavens sakes. When apple is on fire, it has a lot of semiconductor pin action. Lets see, logic, texas instruments, how about broad come sky works, solutions a rally in these stocks can trigger a dramatic move in the whole nasdaq its a mammoth break out that silences the macro junkies with the big economic slow down s hard to find if youre examining most domestically oriented countries. Speaking of domestic operators, how about the amazing run in the stock of jp morgan, its up another 3 bucks today. Its hard to believe that a high quality stock sells for less than 12 times earnings with a yield of nearly 3 but its true. See thats what happens when you report spectacular earnings. The stock of jp morgan, its ridiculously cheap you cant have a real without this one the move was a locomotive that pulled citigroup, that pulled bank of america, and pulled Morgan Stanley along with it all aboard. Once again, if you were taking the professional pessimist seriously, you never would have been able to capture this move. No way, no how we have seen big time Money Managers, and hedge funds that come on our air. They say its the end of the world. Lets forget about it. By the way, theyre really rich, maybe youre not, they have made the money, they dont want you to have it, or at least thats what it seems like to me you know, they think that the financials are the epicenter of the selfdestruction market. At least until they started rorg reporting last week. It didnt matter that they have single digit growth. Cant they just say the words, is it harder to say mid single digit than it is to say msd. No anyway, it didnt matter to the all bountiful buy backs and dividends. It did matter that the consumer is in amazing shape. The macro guys dont care about this stuff, they care about the yield curve. Memo to the masters of the universe, unless you do some homework, stay the heck out of my zone. Same goes for the strength in the stock of American Express. I like to read, its a great discipline, prevents you from following the herd solid, good growth, tremendous millennial pickup. Under the leadership of ceo steven, has become a must owned financial theft, you own it or own visa or mastercard visa and mastercard report next week after an initial dip, americas best is roaring, closing at 2. 29, or 1. 96 . Again, a big company, just 2 . Just like that then theres honeywell, hon. If you told me theres a company, aerospace, climate control, automation, chemicals, i say those are exactly the businesses you dont want to expose, yet honey yn wewell is n fantastic shape. He put on a clinic and explained why his business is firing on all cylinders. The only weak business was warehouse automation that division was up against some really tough comparisons. Honeywells stock on fire. 3. 37, or 2 talk about pin action. Finally theres Union Pacific. Everyone thought Union Pacific was this wrong, it was this all aboard. I know some viewed this quarter as a disappointment. So much weakness across different cargoes, look, i think exactly the opposite, exactly. Despite the revenue shortfall, Union Pacific generated some fantastic earnings if they can make this kind of profit when business is this bad, can you imagine how much money they will make when its good what happens when you get a trade deal with china, and what if the fed keeps cutting rates, that would produce extraordinary returns here no wonder leading the transport, it rallied last week its picked up another 5 points, 3, 4, 5 just today. Listen, this afternoon i had the privilege of being on scott watners halftime show. We had a spirited discussion led my good friend josh brown. The pessimism is unrelenting, the macro people seem oblivious to investing i think some of it is sheer intellectual laziness. They dont want to do the home work hey, listen, maybe theyre watching a lot of netflix, i dont know its easy just to spout off about the big picture stuff like the yield curve. It doesnt change that much. You can say the same thing every day, theres a couple of points. Some because the concept of trying to make money seems to elude them, and some of it is motivated reasoning. They hate donald trump so much that they cant bring themselves to believe this has been a pretty perfect period for the stock market in the economy. You cant afford to take your tip from people who dont want to do the homework were getting Tremendous Positive pin action with Important Companies putting up excellent results, which is reverberating. Their stocks were higher and drag whole groups with them as we see, never bowled higher than a 143. I had to tell you, its pretty encouraging. Lets see if the parade starts tomorrow marches to the same positive music. Rich in pennsylvania. Cramer, how are you sir im doing well. How about you. Good, good. I am a young investor, and my question is about Spirit Airlines theyre not involved with the max, and the airline seems like they have pretty good earnings, i have to get your taste look, we have ual reporting really unbelievable numbers with oscar munoz. Gary kelly, i love people saying dont buy southwest, theyre going to report later, but both of us are better than spirit how about katherine in connecticut. Yes. Youre up, its cramer. Hi, cramer. How are you. Im going, how are you. Good, thank you sings janua since january i bought and sold cronis, earning about 3 , after a lot of work. Im not holding any now, and after hours last wednesday when i watched the price surge up by as much as 40 from the 12s, i want to, given the quick turn around plunge back down, you know, i was happy that i followed my instincts and didnt jump back in i almost did, so now my question is as the newly crowned king of the north a buy, or hold out for it to dip back into the 7s. I dont know. You made some money here congratulations, most people have lost. The problem is the vape thing. I know when we had the ceo, its guilt by association and the etfs that crush these stocks, including gw pharma. It would help more if canopy picked a woman, guy or gal, you cant use gal anymore, guy or woman. Gal is out gal is out gal is out but you get a person, there you go you get a person, how about that, who knows the packaged foods industry, wow, you can see some perfect pin action there. Some stocks are more powerful than others. I use the name beethoven, with so many unknowns, trying to gauge whats next for the market im going off the charts to see what they could be saying. And then we have seen troubling indicators im highlighting one of the few industrials that seems to be working in this market do not miss my take on something blank sole, and last weeks biggest ipo didnt take place, its stock axis web site, im getting to the bottom of it with the companys ceo, and he may be better than the greatest of all time stay with cramer dont miss a second of mad money, follow jim cramer on twitter. Have a question, tweet cramer. Send an emailmadmoney cnbc. Co or give us a call, 1800743cnbc, miss something, head to madmoney. Cnbc. Com. Most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. Virtualize their operations. woman and build ai customer experiences. We also keep them ready for the next big opportunity. Like 5g. Almost all the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. The lexus es. Every curve, every innovation, every feeling. A product of mastery. Lease the 2019 es 350 for 379 month for 36 months. Experience amazing at your lexus dealer. [spokesman] if youve tried colleg group cheering shed, snhu lets you transfer up to 90 credits toward you bachelors degree. [woman] it doesnt matter how old you are, you can do it, you can finish. [spokesman] finish your degree at snhu. Edu that could allow hackers devices into your home. Ys and like all doors, theyre safer when locked. Thats why you need xfinity xfi. With the xfi gateway, devices connected to your homes wifi are protected. Which helps keep people outside from accessing your passwords, credit cards and cameras. And people inside from accidentally visiting sites that arent secure. And if someone trys well let you know. Xfi advanced security. If its connected, its protected. Call, click, or visit a store today. What makes this market so hard to like on the one hand, many of the problems that have been holding us back, in some cases for years, starting to resolve themselves right, i mean, the uk just kicked the can down the road again with brexit. Maybe theres a resolution the trade war with china is cooling, at least for the moment fed is giving us a much needed rate cut the job market is strong, and so far the earnings season is looking pretty darn well lets say maybe its looking not as bad as feared you would think that that would give us a pretty positive backdrop for every hurdle we overcome theres a new one standing in front of us. As i mentioned at the top of the show, the stock market has been flooded with new supply. Any other market, when supply overwhelms, demand, it puts pressure on prices we have a tremendous amount of Political Uncertainty from impeachment to the 2020 election, and wall street hates uncertainty. Weve got a boat load of it. For weeks now, many investors have been freaking out about senator elizabeth warrens status as a Democratic Front runner shes the candidate who wants to crack down on the perceived excesses of big business the stock market represents big business its easy to understand why Money Managers are worried however, look, no matter how you feel about president trump, wall street likes his economic policies aside from the trade war. For the next year, it wouldnt surprise me if the averages bounce back, back and forth in response to the pole i know thats a suboptimal situation. Its washington. Were trying to figure out companies. This stuff is kind of nebulous and its very hard to look at with the kind of clinical detachment that you need to be a good investor. Thats why tonight we do something different, off the charts on a monday, with the help of car lee garner, the cofounder of carley trading and the author of higher probability quantity trading, now garner points out that the the s p 500 hasnt made much progress since it peaked last year the market spent most of the last couple of years digesting those gains and no more. Lately, though, the s p surged to new highs and garners concerned, this is quite contrary to what im hearing, that we may be approaching a point where all the good news is baked in more importantly, she thinks were about to encounter some serious technical resistance here, when you pair that with the stocks from the ipo, i told you, is not done, recommended by everybody, and the political head winds, well, she sees, a lets say, not so pretty picture. Lets take a look. Why does she expect resistance this is a look at a very difficult concept. Were going to try to walk through it this is the weekly chart of the cbo, the viks for short, known as the fear gauge. It tends to do a good job of capturi capturing the overall level of terror in the market, the volatility people are paying for s p options, it tends to go down with investors are complacent and up when they are afraid. You can argue this is a measure of complacency what garner likes in this chart is the commodity futures of trading commissions weekly, commitments of traders report. Which tells you what certain types of investors are doing with the vix futures what we care about is the large speculator category, Money Managers, and it can give insight into when a trade may be right or too crowded keep that thought in your mind the vix futures speculations are net short of about 155,000 contracts. Not far from what garner would consider to be an overheated short trade at around 1,700, 170,000 contracts. 170,000 would put it up here okay keep all of these. These are all important so i dont want to, i know theres too much here, but this is really important because why does it matter, because in the past, both the vix and the s p 500 have a habit of reversing. One speculator starts shorting the vix too heavily. It tends to get crushed. So you can see that in other words, if this were to go back up, ten the s p would go like that all right. Now, how about the s p 500 itself, take a look at this longer term monthly chart of the s p 500 mini futures, thats a key contract everybody watches, who trades the futures in the short run, garner thinks bullish seasonal patterns and optimism should be able to carry us higher. If we rally much further from here, the relative strength index, and thats down here, rsi, thats an important momentum indicator, will shift over territory, suggesting it will be due for a pull back. Right now, the s p is just above 3,000. Keep this in mind, this is where it is. Garner is expecting resistance at 3030 or at 3150 this is the appropriate ceiling. Anywhere somewhere many between, maybe. Her focus is on the 360 to 3090 area, its possible we get a short squeeze here, a bull trap move that tricks you into thinking everything is okay. If that ceiling holds, garner says you want to be prepared for a selloff, possibly for a severe one. In other words, we cant take this out she wouldnt be surprised if we get a pull back down to the s ps longterm floor, of the 2,500, get this, be a hideous move but it wouldnt negate the bull market. However, if the s p breaks below the longterm, the garner will plunge under 2,000, under 2,000. It could be a real possibility at the moment, though, she still considers that a low probability outcome. She thinks it goes to here if that doesnt hold, she thinks it can go to here. Thats a big decline then theres the monthly nasdaq 100, the tech heavy index, made up of the hundred largest Nonfinancial Companies in the nasdaq composite the nasdaq 500 has hit lofty levels right now, the ndx is 66 points away from 8,000, and garner sees extreme resistance, the 8,180 level resistance, but just like with the s p garner says theres a chance of a terror probe above resistance 8, 240 becomes the ceiling we get momentum players come in. Not the kind of buyers you want. The s p, the nasdaq is not excessively overbought thats down here, according to the relative strength index, however, if it keeps climbing well soon meet you overboard territory, and garner expects this thing to roll over and roll over badly how terribly could we be hit in the normal ebb and flow of the market, she thinks we find support at 6930 down here. But thats down about a thousand points from where we are but it wouldnt shock her if we got a more serious direction that takes us down to 5910, well, this is, ladies and gentlemen, this is a 25 decline. Is garner right . Honestly, i do not subscribe to her negativity you need to be aware that these bearer scenarios are on the table, and a lot of peoples heads. Heres the bottom line, the charts are interpreted by carley garner, suggest the averages could keep climbing for the next few weeks. After that, she thinks were in real trouble and recommends using any of the strength were about to get to ring the register my view, look, it never hurts to be a little cautious as we keep climbing i think theres more to the bull market than garner gives it credit for still, we need her perspective shes been right on a lot of things, because now things do start rolling over youll understand what the tech people say about the possible downside in front of us. Stick with cramer. Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Val, vern. Im off to college and im not gonna be around. Im worried about my parents retirement. Oh, dont worry. Voya helps them to and through retirement. Dealing with todays expenses. Like college. While helping plan, invest and protect for the future. So theyll be okay. 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Hey, this week, we get results from a bunch of major industrials, united technologies, caterpillar, Stanley Black decker just to name a few im optimistic about some of these stories, especially technologies, but for the most part, wall streets expectations are incredibly low they have been hammered as investors threat about that worldwide economic slow down and the trade war. These are all things that are so negative for earnings. But i found an exception or an exceptional one. Last thursday, we got a race from the quarter from now, talk about it all, a Company Called dover. Its a classic smokestack. Just exactly the kind of dirty industrial you expect to be really struggling here yet dover caught fire with the stock up for the year. Thats extraordinary how is it possible this company is a manufacturers manufacturer ge gets 40 of sales, of berry systems that are used by industrials, oil companies, Chemical Companies and gas stations and even the food and farm industry. They get another 40 of their sales from engineered systems where dover makes critical equipment, consumables, consumer goods, digital textile printing, industrial automation, defense, you name it. The last 20 comes from refrigeration and food equipment, anything from commercial refrigeration, and in short, dovers a textbook example of a smoke stock even the International One given that the company gets 44 of sales from overseas, they request over seas, thats where the growth is supposed to be its not worldwide but in the last few years, dover has moved aggressively to take control of its own destiny, rather than just hope for the strength of the globe. These guys dont want to be just another cyclical enterprise, its totally hostage to the rise and fall of the Business Cycle it all started in late 2017. Right here for years the stock had been obviously an underperformer, held back by its ailing energy business, known as well site they made equipment for the oil and gas industry every since the price, dover energy and business became a total dog. Sales down 25 year over year, every time i list on one of the conference calls, i would say, why dont they just get out of that darn business by september 2017, management had enough, they threw in the towel. Day announced strategic rooufr and review and decided to amputate the business. Dover and well site borrow hundreds of millions of dollars to pay the shareholders a big fat special dividend, and spun it off as a Company Called appergy, in april of next year it was a clean break dover retained zero ownership interest b bon voyage, that was a great decision the price of oil has been stuck in the 50s because every time it starts getting lift, what happens, you know, our producers bring more supply and knock it right back down. Thats why the all surface docks have been awful perform, and halliburton reported a not hideous number, not as bad as. Why did dover make that call, in part because third point, the huge activist hedge fund took a position in the company and started to push forward. I think low laid much of the ground work for the turn around. Bailed on the stuff a year ago into the market wide melt down in april of last year, dovers long time ceo stepped down, brought in richard tovin, a major british manufacturer to replace them and rolled out a huge restructure program, a right sizing plan to bolster dovers margins, improve operations and build a foundation for future growth, basically cut costs and narrow the focus, which includes jet tissi lot of businesses, and replaced by cheaper alternative, as well as businesses that can give them recurring revenue growth, and then the sky is delivered. Dover had Strong Quarter this year big cost cuts, better management of the two core businesses, engineering systems and once we started worrying about a worldwide slow down, things seemed to get a little dicey, when dover reported in july, okay, here we go, their sales came in late, but they still delivered a nice earnings speed. They were down 2 organically. That freaked a lot f people out. Management said their engineer systems business was hit by a delay in Digital Printing orders and told us to expect better in the second half. They raised their full year earnings forecast. It wasnt enough stock got hit. Only pulling back to 88 bucks. And it slowed in august, went out of style with the trade war. China escalated, investors freaked, all that stuff. Blah blah blah fast forward to last month, dover holds this bill investor meeting where they spelled out everything they have done to improve their business over the past decade, the company has become a smarter, more streamlined business, they went from 35, who can keep track of that, down to 18. That may be too many, cyclical and growth ambitious Margin Expansion targets for their fuelings, solutions in food retail divisions, put them together and dover of today is a Different Company from the dover of a few years ago. The stocks shot up back to the triple digits response meetiit e back earlier this month. Otherwise the stock wasnt burdened by Great Expectations the price was bound to go higher and thats exactly what happened, point posted 0. 09 earnings terrific 6 organic growth down 2 before. Up 6 , give them the benefit of the doubt, operating margins increased by 180 basis points, management raised the low end of the forecast, now looking for a 582 to 585 per share the stock jumped on thursday and tacked on points in the trading days put it together in the heavy industrial dover deliver the execution, doesnt need to hurry him, and the stock isnt too expensive. Can it go higher, yeah, i think it can i bet Money Managers will flock into the industrial names that are working. One will be dover, as i said at the top, the honeywell, extends to a bunch of industrials, the broad range of the business dominates and accompanies a quiet solid manufacturer, the kind of operation you might never know about unless youre one of the customers and thats whats working bottom line, dover has transformed itself into a cyclical industrial. Its been able to rally in a macroeconomic environment. Its why i think the stock issii isside going forward, just the canine of moves kind of moves we are looking to triumph over a Global Economic slow down. Lets go to michael in my home state of new jersey. Michael. Bchina is going to be buying 40 to 50 more in agriculture actually, the problem with that first we dont know if theyre going to buy it, and scotts miracle grow is more about grass, and grass, which used to be what we call cannabis before cannabis decided it was too, kri dont know, tacky to cl it grass, wall street isnt a fan of the industrials right now, but i have spotted a major exception. Other than honeywell, its dover, and i think you can go higher nasdaq for sleeper heads, im finding out how one ecommerce site is taking aim at the luxury market, and selling off like its 1999. Im digging into whether the derailing is comparable to the melt down of the tech stocks in 1999, 2007, rapid fire, tonights edition of the lightning round, so stay with cramer through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From using feedback to innovate. To introducing products faster. To managing website inventory. And network bandwidth. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. With time, comes change thats for sure. And when those changes might help more people, especially those in retirement, i think its worth talking about so, aag is introducing a new jumbo reverse Mortgage Loan so you can now access as much as 4 Million Dollars in cash, tax free, from your homes equity. Aags new jumbo reverse Mortgage Loan can give you more taxfree cash than ever before. If youve had your home for a while, its probably worth a lot more today. So why not use that appreciation for anything you need maybe its some home repairs, or updates to make it more comfortable so you can stay in the place you love. Its a viable effective way to support your other investments long into the future, and another way aag is working to make your retireme. Better. Dont wait. Get your info kit now if you want to get a read on the future retail, check with the smaller privately Held Companies that are revolutionizing the Industry Limited addition sneakers, they got their start helping people selling repair shoes and they have expanded to a whole bunch of categories. In the last few months, stock has rolled out another category, collectibles they have ordered a new ceo, and just last week, they launched their latest shoe ipo, part of the collaboration with i dee ads their set of number shoes, if you want one, you submit a bid with the shoes, going to the highest bidders, who all pay the same price thats kind of intriguing idea, lets learn more about his company and how its changing the industry welcome to mad money. Great to be here. Thank you so much. Thank you. Scott reminded me beforehand that we met while you were on the New York Stock Exchange explaining alibi aba to me, at h same time you were on ebay, how did you come to get the job and whats it like. When it company started, they started with this notion of creating a new commerce marketplace based on the principals of the New York Stock Exchange, stub hub or ebay, all companies i had been part of senior manager i sent a linked in message to josh luber, im the ceo at stub hub, im a anemicer hesneaker hw exactly how big this idea is, id love to help and that started a three year relationship. Thats how it started, through linked in. A day after they started. I saw the idea, and i thought it was just transformational, the combination of all of these things together in this company, and then who would have known a few years later that i would join and have the opportunity to run it in partnership with the founders but its been really a very cool story. Kwhoewho else would know howd an ipo auction, tell us about it, and i mentioned before that even though its within adidas, there are a lot of brands involved. Yeah, the concept here is pretty simple. We partnered with a great brand, an innovative brand with adidas, three unique designers around the world and in ten days, they designed, created and produced these unique sneakers, three different colorways, and we had an ipo for 333 pairs of each sneaker, and like you said, so, this is the first time where a brand comes direct into the marketplace and allows the consumer to dictate the price that theyre willing to pay for these rare one of a kind sneakers. People can be off the mark and still not get hurt a pair, the average is for 200, you can put in a thousand, you dont have to pay a thousand we had 10,000 bids. How many people know about this stuff. Well, i mean, we did a lot of, we launched this last week it was open for just a couple of days we had bidders from all around the world. We already have customers from 170 countries but 20 of the bidders came from outside of the united states, a thousand placed bids on all three different pairs, and when it came down to it, you talk about the average clearing price was a little over 200 across all three, and 90 of the bidders paid less than what they bid on the sneakers. Extraordinary now, you know ebay and stub hub, are you starting to see a better price discovery here than you did in ebay . Well, this is a totally different model in the sense that, first of all, you know, in this case, for sneakers category, these are always new dead stock items. Right and so we intermediate that transaction, meaning we stand in the middle right between every anonymous buyer and seller, we authenticate that, you know, that item, and so its different than other Online Marketplaces because we stand in the middle of the transaction. In this case, yes, there are other platforms that do an auction, not a blind dutch auction in this format that we are very familiar with, you know, in the Public Markets and we use this mechanism to, you know, price a traditional, you know, ipo, but here we use it for products in commerce. How is it possible, like ebay, international, are people just more comfortable in international . I mean, why do they seem to like it, and thats where the business seems to be going. The business internationally is growing unbelievably. Sneakers is a worldwide phenomenon, driven by social, and ultimately about access. For people outside of the united states, having the opportunity to cop a new sneaker china is 10 of our business the Ecommerce Company having direct customers in china. These are items that you cant get anywhere else but they are coming to stock x and were recognized for a brand that stands for authenticity. Since we authenticate everything that goes through the platform, if youre buying from, you know, anywhere in the world, you know that youre getting a great brand plus this notion of authenticity. Thats fantastic. No one else has that which brings me to a point that the people at home are saying you know what, i want to be on stock x and i want a piece of stock x. Is it reasonable to think, and i know dan a great man is behind it, that you would want to come public or is it like the operation where i dont think theres any desire to go. Well, if you see, we recently announced a financing at the beginning of the summer. We raised over a hundred Million Dollars. We have world class investors, including dan that are in this, and i think wouldnt that be great if we ended up with that outcome. Its our objective as a company, were going after a global opportunity with consumers around the world, and were super excited about this innovation in congress. This is exciting, they got the right guy for it you know it all. Thats scott cutler, ceo of stock x, read about it google it. I want you to know about it. I know its private. This is one of the most exciting parts of commerce i have seen since when ebay was started. Mad money is back after the break. At Southern New Hampshire university, we believe in education built for all people. [woman] snhu was the best experience of my life. [man] without snhu, i wouldnt be the leader i am today. [woman] i graduated high school 19 years ago. I still finished. [man] in the military, you feel that sense of accomplishment. Thats what snhu is. You will march from this arena and say to the world. I did it. [woman] you did it. I love you. [graduate] i love you too. It is time, and then the lightning round is over, are you ready, well start with bill in pennsylvania bill jim, i got the backbone of some of the most popular web sites in the world, Third Quarter results coming up on november 7th, what do you think about cloud flare . They have really taken that one to the wood shed, i got to tell you, i think youre going to have to deal with a lot of tax laws selling i would be careful i like the idea but wow has it been clobbered, not a good sign. Roheit in washington. Love your show, thank you for everything i wanted to get your thoughts on amb. I like it i like what lisa sue is doing. A lot say shes still kicking the butt of intel. Holy cow, but remember, nvidia is also on fire. Lets go to sharon in california sharon love your show. Thank you. Im turning 75 this week, ive been in the dividend reinvestment plan of epsilon, should i stay the course yes, happy 75th exelon, i happen to like dominion with 4. 5. Stick with what youre got, and youre in very good hands and i like your call lets go to richard in tennessee. Richard. Hey, jim, this is stock market rich from knoxville, tennessee. I love endp. I want to know what you think about it, and i think its a steal at these levels. You know what, i cant call it a steal lets just say its a great spec i cant call it a steal because every time you call something a steal, its like calling it a no brainer, next thing that happens is you have no brain lets go to ashwin in california. Hey, jim, thanks for taking my call. I appreciate all your insight. Merck, they will knock the stock down and buy more or get too excited about it and it will get knocked down buy half merck now, and half on the day it reports, it will be a good quarter lets go to gunther in florida. Booyah. Im in palm harbor, florida, i have a question. Pharmaceutical a good stock to own in the long round. Its fine its a battleground, its got a lot of short people, shorts banging it down and taking it up i have to tell you, i like the seattle genetics, even though its up a lot. St its not better i like both a lot. Lets go to andrew i had his phone number, he didnt answer, i called, looked up. Thats a little confusing to me whats the stock . Hey, im looking into, booyah just wanted to get a shout out and see what you think about tandem diabetics. I like tan diabetics, it seems to want to do nothing. I dont care, i like the stock i also, by the way, you know, i like med tronnic, which is down a lot. Lightning round. The lightning round is the lightning round is sponsored by td ameritrade. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. Now offering zero commissions on online trades. We charge you less so you have more to invest. Pacifica ted goin oneighbor yes. Takin it off road Station Wagon . You know its an suv i know for fact your suv does not suck. Why is that . It aint got that vacuum in the back we got to go. Vacuum in the back, hallelujah . Owning and running the biggesta Small Business is finding the right people. In hiring our first recruiter, we decided to post a job on linkedin. They had to have worked. At a recruiter firm and be bilingual. When we saw ana marias profile. She had a ton of experience in hr. The interview went really well. And she seemed like someone who could really sell mckenzie to perspective employees. We found the best person to find the best person for us. Post a job today at linkedin. Com grow it finally happened. I hardly noticed, all year i have been warning you that the flood of ipos would derail if you want to participate in a deal, you have to sell something, though, sell Something Else and lately Money Managers have been selling the software as a service place, and i think cloud related has been slammed. Im blaming the ipo market when this year began, i was worried it would end up looking like the end of the dot come era. We had two markets, the nasdaq composites, info space, and then there was the real market made up of the cocacolas and the merk 350 companies came public flooding the market with the endless stock from the ipos and from their secondary offers. There was too much new supply and it only overwhelmed demand the. Com edifice came crashing down, day all got eviscerated and wall street soured on things tech and rotated back to the cokes and the pepsis, the High Quality Companies with consistent earnings and good dividends and buy backs. Only a half Dozen Companies survived were seeing something similar, the cloud stocks are being clubbed. Unfortunately there arent that many and some cloud names are profitable, it doesnt matter, money is flowing back to consistent companies with healthy dividends, as long as they dont have too much china exposure, thats what were seeing in the dow. Once again, the new supply from ipos has overwhelmed the natural demand from buyers this happened sooner than i thought because theres a lot less demand for individual stocks than there used to be indices become the fault way 60 comes via the indices. Theyre not allowed to participate because theyre not in the index thats kinds of what we dont want to have happen, isnt it. Wow, many junior Growth Companies like to issue stock as salary which means theres a constant flood of additional supply its like weak shale underneath the skyscraper it doesnt help that many are unicorns and soon the lock ups will expire. Get this, ubers lock up on its insider sales, ends in a few weeks. What can i get with 22 billion worth of stock, four times the current flow thank you Larry Mcdonald for bear traps for putting that Work Together and uber is hardly alone here. You put it all together, and this situation is just too darn similar to the. Com unravrlinel. Bad money driving out the good, unprofitable, new and public companies, leads into the profitable but expensive cloud names. Did you see the way pelliton acted today. Five firms wanted to buy it. One red hot group of clock socks is plummeting to earth oh, and the Software Outlook from workday last week took everybody by surprise. What do you do, if you dont own any of the cloud stocks, i think you got to let them settle if you own the Higher Quality cloud plays being brought down with the bad ones, you have my permission to pick at them into weakness be mindful that the whole group is under pressure. You could have potentially a lot more downside. I wish i could offer more reassurance, but the vast supply of new stock snuck up on us, and its causing a whole group to get hit. These ipos are a tsunami, better to get out of the way. The only piece of good news, at least we werent annihilated by we work, the damage was according to the so called professionals who got their lungs ripped out by an overly dynamic entrepreneur with a terrific story and a real bad balance sheet. Stick with cramer. It begins with a distinctive approach to managing money. That for over 85 years has focused on keeping confidence up when markets are down. An approach where Portfolio Managers work well independently. And even better together. Who dont just invest, but are personally invested. Can i find a proven approach designed to deliver results . With capital group, i can. Talk to your advisor or consultant for investment risks and information. Wiyou can see relationships. Y, advisor or consultant connections. Patterns. You can see what others cant. Speaking of, guess what, again, it was not as bad as people feared and the stock roared that remains the operable theme of this quarter other than the industrials who helped themselves i like to say theres always a bull market somewhere, and i promise to find it just for you on mad money, im jim cramer and ill see you tomorrow. Narrator in this episode of american greed the fugitives, youve won the lottery promises like this, luring thousands of unsuspecting victims. They were very nice. This is a wonderful experience for you. Im sure youre gonna be very happy. Now, what we need to do to process your prize is the following. Narrator but instead of paying a jackpot, roland okuomose is accused of ripping people off. Not one victim has received any lottery or sweepstakes winnings. Narrator now this alleged criminal mastermind is on the