Ever do is look at stocks through the prism of the federal reserve. Every day we guessed what the fed will do and every day we make it harder and now that its almost upon us this discussion monopolizes it. We know employment has been strong. Theres no reason to keep shortterm Interest Rates too low. But its how companies are doing like mine. The amazing race would be the last thing you do. I cant name a Business Group doing better than it was six months ago. That is if you thought that Employment Matters all that much because employment wasnt as strong then as it has been in the last few months. They havent missed anything. If hiring is their gauge, still, though, the stock markets rock because anyone that follows individual stocks knows that things just arent so hot. Individual Sector Analysis says things arent that hot. All right. Thats not a technical term. Its a term that explains where the economy is right now. Thats where the confusion comes in. How can the cooling economy produce more jobs . The answer is simple. The businesses im looking at now will be laying off more people than theyre hiring at this pace. Thats why everyone is focused on the statement that the fed issues when it makes its decision. The fed is cognizant of the economy. That means its going to take its time until the next rate hike. That wont stop them from saying its going to be this week but it would take the next few months off the table for this parlor game which could cause the christmas relief rally from an oversold position beginning this wednesday afternoon. Thats only part of the reason why the markets seem to have disappointed them. The other explanation, the number of stock going up themselves. I read it each day as part of my paid side of the street. Com. Worse than it has appeared. It has been an extremely narrowed market and thats been covered up by the major indices. How narrow . The top ten stocks in the s p 500 are up at an average of 20 . The remaining stocks, they are down an average of 3 . Stunning, right . Further only 23 of stocks are trading above their 200 day moving average. Most stocks are losing new money and have been for sometime. The saving grace, this divergence with the vast bulk of stocks doing poorly has been going on since july of 2014. The concern, he thinks that the stocks in the major indices and the ones that are up 20 have to come back to earth before they can advance. I dont want to be that negative. Why not . If the fed gives the right statement this market will most likely behave like a coiled afternoon today and there will be tremendous regret if you decide to dump the winners in advance of a benign coming wednesday afternoon but to know that a few stocks are responsible for that advance, that doesnt seem right either. I can tell that last week was poorly received by reading my twitter feed. I got repeated blasts that if cramer doesnt like it then its time to buy. However, given that i liked a lot of stocks until the big Labor Department employment number but a nail in the coffin of lower rates i have to say did you bet against me all the way up . How about the concentrated stocks. The difficult thing about selling them is they have tremendous scarcity value. What is it based on . Unlike so many stocks and so many groups these companies and im talking about facebook and amazon and netflix, big winners all are truly doing better than they were six months ago. Its selffulfilling. Theres far fewer companies that merit being valued in this environment than six months ago. The fundamentals of downturn are going down for the vast majority. What else makes me a little less negative . They announced it last week and pfizer allergen deals. These mergers will yield better prices. Just not yet. Balanced against the combined forces of some stock doing well and some to get their share Prices Higher is the news flow that brings the bulk of the apartment down. Global growth almost nil. Much of south america is a disaster. Terrible. Europe, japan, russia no help whatsoever. Many of our favorite stocks and sectors like apple go into the stalled at best. Plus we had this new junk bond credit crisis getting worst before it gets better for the Retail Investor that bought mutual funds filled with the best kind of bonds and loans betting that the diversification would somehow ease, produce good results and make redemptions okay. All of these forces combined to make it so we do rally and have an oversold position like this today, we cant maintain any momentum which is when they ultimately start giving up their games. Thats been the pattern over and over in 2014. This market feels bad because Many Companies arent doing that well and the few in good shame seems high. If you arent at least a tad cautious in this environment i think youre being arrogant or clueless or both. Morgan in new york, morgan. Before we begin, im a big long time listener, first time caller, i know shake shack was very overvalued in may but so was chipotle, what sit keeping shake shack from trading higher. What happens is people compare the average unit volume and how much the unit makes of shake shack versus all the other restaurant chains and its just the volume is good but the valuation of each store is so ridiculous based on the apple to apple me trick that its too expensive. The stores arent worth as much as the stock indicates. Lets go to anthony in new jersey, anthony. Hey, jim. I keep scaling into xom. Will it ever rebound. Youre having longterm after a Climate Conference where they going away. So the answer is no, not longterm. Were going to be changing our stance throughout 2016 on fossil fuels because of what happened with climate concerns around the globe because they basically decided its the end of fossil fuels and if youre thinking for your kids, you dont buy them. Panic is not a strategy. Patience is a virtue. The market has seen a tremendous rally but i still believe the caution is warranted. On mad money tonight has lululemon overextended to the down side . Ill see if its a good fit for the Holiday Season. Plus some investments lurking in your portfolio. You need to be aware of this. Ill give you the rundown just ahead. But first the merger between some of our countrys most recognizable brands. Coming up, joining forces . Today creating the 16 billion newell brand with names such as mr. Coffee and elmers can it rule the aisle of retailers like target and walmart . Cramer sits down with the management behind the merger, next. Dont miss a second of mad money. Follow jimcramer on twitter. Tweet him madtweets. Send jim an email at madmoney cnbc. Com or give us a call, 1800743cnbc. Head to madmoney. Cnbc. Com. Theres moving. And theres moving with move free ultra. It has tripleaction support for your joints, cartilage and bones. And unlike the big osteobi flex pills, its all in one tiny pill. Move free ultra. This morning we have confirmation of last weeks big m a rumor. Its buying jardon for 15. 5 billion to create newell brands. It got slammed today down 7 . But i think this deal makes a ton of sense. This combination will give tremendous heft to the point where the new brands have a lot more Bargaining Power and negotiate with the retailers that sell their merchandise. President and ceo that will stay in that job of the deal. Then we spoke to the founder and executive chairman who will be a board member of combined newell brands. Take a look. First, congratulations. We made a lot of money for our viewers. You are putting together a company that will have how much aisle space in a typical store that our viewers visit . Its a 16 billion company and well have 10 billion of revenue when we combine the enterprises. Both of which are performing strongly in the marketplace so this happens from a position of strength and youll find us in virtually every aisle in either the mass merchants store with the exception of the food aisle but youll find us in virtually every aisle in the rest of the store from Sporting Goods through to the general merchandise section. I know you have strong partnerships with retailers but this does give you more leverage than if you were separate from each other. Through scale well be able to lead better the development of the categories through our retail partners. And that strategically is the ambition we would sit and where we hope to leverage scale. Through collaboration with with retailers to increase the growth rate and the profitability in the categories across the total enterprise. Now people are used to you coming on the show and used to generating an amazing return. So some of our viewers are saying if martin is done im done. This is just a great run. Im going to sell. What do you say to them . Im going on the board of directors and ill help mike anyway that i can. Im leaving a significant amount of my network in the company and i see a lot of upside. If i didnt see a lot of upside i wouldnt have done this transaction. Frankly. He has the same kind of vision we do and creating efficiencies to be able to drive product innovation. We see a great fit and if we were the Bigger Company we would probably be the buyer. Were very happy and, you know, this is going to be a great story for many years to come and i think that combination is going to get you there faster. One of the things that you have done. Are there products that you see that youll be getting that you already had great ideas for product extensions. Martin has done a great job but maybe more can be done . Both companies will be stronger together than they would apart. Theres a number of intuitive combinations in our portfolio. What our people want to hear about. Sure think of the combination of the leading baby gear brand in graco with the leading nook. This is a phenomenal combination in baby gear. You have combination between rubbermaid and food saver. Were launching fresh works that will allow you to extend your produce life longer and reduce the amount of produce and fresh vegetables and fresh fruit thrown into land fill which is a tragic waste but martin is ahead of us quite frankly with food saver. Its a 250 million brand that takes a different product approach to preserving and extending life of protein but its the same principle. Same underlying principle. So you can go through the portfolio. You can look at the commercial products and Industrial Products with rubbermaid products and great one there is. You can look at the kitchen appliance business. And the more time you spend theres two things that are category synergies and cross sale opportunities. Average containers can tap into the distribution power of coleman or k2 or even a brand to create assist access for these products and channels we wouldnt reach. So those quite frankly we havent even figured into the algorithm for this deal that are out there as opportunities beyond what we would assume. Let me ask martin since you were on last. Martin was a little skeptical. This is the ring company and you have been in it now and people were skeptical when you bought yankee candle. I spent my whole life dealing with it. Yes, including me. When we first met. Tell me what you have discovered and low hanging fruit. Well, we love the business. The low hanging fruit here is the again the fit. Its a whole new distribution channel. When you get to a certain size you need to keep on finding new ways of delivering your product to a consumer and in this case you take the parker pen business. We do these momentos and theyre great for gift giving and thats going to be a great new product to put through the channel. But what have we seen . No surprises. We do our Due Diligence very thoroughly. Theyre doing to what they said they would do. Theyre lined up to have growth and the more products we put into that channel the more organic growth will be driven. A lot of people will be watching and listening about this high yield market. You worked hard to keep it so you did not get into that category. We have always been to always be investment grade. We quickly delever right to our target leverage ratio. So were really pleased with how the combination is worked. It creates a tremendous amount of value for both shareholders. It was important for both constituents to see the value in the deal. In year one high single appretion and year, year five because of double synergies. I dont want you to name any now. But could there be you said 80 are core. Could there be some that if you wanted to raise capital quickly in the first year you could do it. I dont think well need to do that. We can hold our dividend and increase it with earnings. I love all my children and think about brands and products. Were going to spend time learning and understanding the portfolio and getting the know the Business Models and well see what happens overtime. Some of these combinations offer Great Potential and i wouldnt make a judgment about any aspect of the portfolio for sometime to come. I think we need to get into it and understand it. This is a company that will be comprised of every day brands and have tremendous global potential. I want to thank you. The ceo of newell rubbermaid. Thank you so much to both of you. Thanks, jim. Coming up, gone rogue . Wall street debt is raising eyebrows and causing concern across the market culminating with locking its investors out of its cash next week. Could this move ripple through your portfolio. Ahead. Ugh heartburn no one burns on my watch try alkaseltzer heartburn reliefchews. They work fast and dont taste chalky. Mmm. Amazing. I have heartburn. Alkaseltzer heartburn reliefchews. Enjoy the relief. Lets get these dayquil liquid gels and go. But these liquid gels are new. Mucinex fast max. Its the same difference. This one is max strength and fights mucus. Mucinex fast max. The only cold and flu liquid gel thats maxstrength and fights mucus. Last week, everyones favorite take over target, lululemon reported a suboptimal quarter and i have to tell you right to the woodshed. Thats right. It plummeted 13 on the one bad number and i have to tell you also, i think that lulu, it delivered every bit of the hideous number that some of the bears were expected. It was maybe an unredeemable quarter but i found myself wondering if lulus results were that horrendous. Sure the company missed wall street estimate top line and bottom line but they did deliver an incredible 9 increase in same store sales at a time when retailers are struggling to put up descent comps. I like these situations where something is wrong but maybe something is right. Did it really deserve to sell off 13 last wednesday . And with the stock down 14 for the year, maybe we can make a case that lulu deserves to go higher. Ive got you, dont i . Lets dig deeper in the latest report and find out. 2 cents and the companies revenues came in a bit light. 14 year over year. Its a growth stock. To make matters worse, the companys inventory shot up by 56 and inventory is the bain of all retailers. When you see these inventories surging it tells you theyre getting very promotional. They have to click through a ton of discounts in order to move its merchandise. Big for sale signs everywhere. Lulu gave signs for the next quarter. The loan bright spot was the same store sales. They grew at an astonishing 9 clip. Thats an amazing figure. Its very puzzling because a company blowing away their same store Sales Numbers should be excelling in other me tricks. Thats not the case here. Now the markets negative verdict was clear after the Stock Plunged at 13 . However at the same time the the quarter was much more mixed. Sure a bunch of firms downgraded lulu or cut their price targets but theyre reiterating the targets while they cut their price from 69 down to 60. They also told investors not to give upton stock. Was lulus quarter that awful . Warranting the double digit decline in the stock or is this an eye of the beholder situation where you can get a bullish thesis and it just got hit because theres so much hot money in the stock because of the takeover prospect. Underarmor, nike. Lulus results say, you know what, the company is really frankly doing as bad as the stock suggests. Lets start with the negatives. Theyre pretty straightforward. Lulu skyrocketing toward a red flag. We see this problem lately warmer than expected weather and increased competition means more and more being held than sold. But it isnt a one off problem unseasonably hot weather. The fact is the rising inventories are a worrisome trend at lulu. 56 in the most recent quarter. Nike and under armour also experienced it. With under armour up 36 . Not great but way better than lulu and this problem wontd be going away any time soon. Total inventories are expected to remain similarly elevated at the end of this quarter too. Some says it has to do with the shifting to transportation strategy toward Ocean Freight but it could take a long time before that shift is fully worked out. Second lulu has a gross margin problem. Thats the percentage they get to keep. The gross margin has been contracting pretty consistently down from 51. 5 in the Fourth Quarter 2014 to 46. 9 in the last quarter. Thats a very big decline. Shrinkage . They took 130 point basis points from product cost, another 130 basis points from costs and currency shaped off 90 basis points. None will abate any time soon and while they gave lulu a 70 boost, thats not enough to offset all the other sources of weakness. Its trying to boost its margins by improving logistics but they dont expect to see real margin recovery until the Second Quarter of 2016. Lulu needs to turn these numbers around but after this quarter its difficult to workout how theyre going to pull this off. Third, lulu saw strength in womens pants up 18 . They also saw weakness in tops, tanks and shirts and while the company made some changes on the design and merchandising size of theyre going to pay off yet. Fourth they saw a staggering 21 increase in sales, general and administrative expenses. Fifth when lulu slashes four year guidance they blame the number of negative trends including traffic in the Fourth Quarter. They did point to improvements since thanksgiving. Thats the result of increased promotional activities surrounding black friday. They also up in the current quarter. Thats not what we want to hear. When you put it that way, things do look a little bleak. However it is worth noting that its not like the stock is going without recognizing it. Its down 32 from the 52 week high up a few bucks from the low. So maybe its to the point where we need to accentuate the positives from the quarter because the negatives could have already baked in. But what are the positives . Even though they missed revenue estimates it still put up growth that was in part by very strong ecommerce sales. Can we really say our retailer is doing badly . At the same time lulu continues to expand internationally and they brought in a bunch of very smart new executives on the design and research and Development Side of the business. Next remember the hideously elevated inventories . Theyre still dealing with the overhang from the port slow down at the beginning of the year which caused them to rack up excess inventory. Theyre trying to sell it from normal channels. Thats why inventories have been so high. But management says theyll have cleared this out by the end of the quarter. We should see real improvement on this front in 2016. Lulu is ailing shortterm. Still have a strong brand that consumers endure. Still even after the vicious padding this is what gets me in my krau. 26. That means its still trading in Companies Like vf corp. Or Columbia Sportswear although i think the numbers are way too high for those guys too. Lulu stock reflects too much of a takeover premium though it was up 3. 62 today. You know my rule, i never recommend a stock on this show for takeover speculation unless the fundamentals are sound and what i have just gone over with you know that lulu is far from sound. Even if you still think after what i describe that nike or under armour might come calling any day now. I believe if there werent expectation of a takeover lulu would be at 36 where it would be vald like the nontakeovernames. The ones that arent going to get a bit. All the speculators that owned this stock had to live through. As long as you accept an 11 point risk, youre free to lulu. Id rather wait until it comes not buy it at all. Luke in florida. Booyah. How are you . Its gorgeous down there. How can i help . My question is on fitbit. The stock was doing good awhile ago and im wondering is this one of the stocks before christmas and fizz out or do you think it has a steam left. Its going to have a good Holiday Season and im beginning to wonder if thats the wrong way to look at this stock. This is not gopro. I think this is something here and im not going to blast the idea of selling this stock, of buying it before christmas and then selling it after. Thats not what im going to do. The valuation for lulu, its a big stretch and while the brand still holds a ton of value i just cant get comfortable with the stock all the way up here even after its been hammered. Including the worries in the high yield bond market. Its something you own . Well, you dont want to miss this. The averages are being held by one piece of the commodity complex and im answering your questions in the lightning so stick with cramer. You really would have needed to move heaven and earth to create a worse portfolio than that of the stumbling third avenue focus credit fund. The mutual fund that barred redemptions last week setting off serious turmoil if not total hysteria in the high yield bond markets. Now theres two parts to this third avenue story. First theres the decision by the firms ceo the former ceo because he no longer works at third avenue as of this weekend to cease redemptions of a mutual fund without even consulting the fcc. This wasnt some hedge fund that could have special rules like capital partners, another fund that ket off redemptions friday evening. No its a mutual fund and implicit in the nature and bargain of a much yule fund is price of what the firm is worth and what your moneys worth and you can redeem those shares and get those price today. Thats just Mutual Fund Management gone rogue. There are rules. Rules that have to be followed including running money in a responsible enough manner that you have liquidity on hand to meet redemptions when your fund is doing badly. You stop buying, start selling and raise cash at any price because when your fund is down 26 act as this one was going into last weeks decision you have to accept that people will want their money back for heavens sake. To me this decision to cease redemptions is reputiation to protect you. As if they were a hedge fund with a lockup. The people in their fund werent network individuals. A portfolio of totally unsustainable high yielding investments. But its the second Term Investments that seems very lightly used. When i look at this fund i see the kind of funds put together and the housing credit boom in 2007. Every second rate examination of the ratings agencies it also gave you an outside return. If theres lots of funds that mirror this one and its bad or even worse were going to face weeks if not where the price of the mutual funds is very high. Its every man for himself to get out of this right now. You never should have been in them to begin with and youll have to pay a high price verses the assets they own because of structural problems in the market. Thats because theres often no bid side or buy price for these if you need to sell them to redeem. Almost every bond is small and difficult to value. If you submitted a bid list to any firm that had to work any of these positions, meaning if you showed a Brokerage House what you owned and the prices you were willing to accept it would be amazing. Literally amazing if any of the client of the firm would buy most of the stuff. Im only talking about the public debt. Well, how about principled the merchandise. Meaning what if they bought the bonds at low prices or term loans at low prices and then held them so it could make some money . Thats exactly what dodd frank made illegal because the brokers were running a hedge fund of investments and thats banned under the new law. You cant run them anymore. That means very lily quiddity extend itself to help the third avenue guys. Just too risky legally. We dont know when or what prices he bought the assets. It seemed to have a strategy of buying the lowest pieces of. Paper with the highest yield out there. Maybe it figured the vast majority would be affiliated with companies that could continue to pay their coupons and not default. The ones that did default would be so few and fall between that the income would make up for them. They would be so diversified that no one area of investment could create a level of default big enough to drag down the entire portfolio. Thats a kind way of looking at it. Its here that the nature of third avenue management becomes obvious. I examined every corporate bond. More than 50 and based on the publicly available information i dozen of them with any conviction at all and even that might be a bit fanciful. Everything from energy plays including american eagle, chc helicopter, energy 21, hercules offshore, to mineral mining plays like ak steel and miranda. Verso paper, liberty tire, just stinks to high heaven. I do think the company and then inventive a Contract Research organization and maybe part of the old Clear Channel communications have some validity as concerns even as i know heart radio. But who knows if thats the good stuff they sold to meet the redemptions while carrying the bad assets. The ones stuck in the trunk of a the lack of judgment, stupidity and the bad luck of the people that put this together. They had no right to run a fund at all because they couldnt have any knowledge of how badly the company was doing and would have always been fool hearty to believe they could have gotten out if this went wrong. Youre not going to find loaded with verizon and att. Still many of these companies have bonds that will end up going dramatically lower in value. I bet the state evaluations were nowhere near what theyre really worth which brings me to the second part of the equation. Look at this risk. I cant believe they got to say only down 27 next week. I think in order to sell them, they would be worth half of what they might be carried on. Im not kidding. Half. Thats why i think avenue had to close. I dont even know if they could get prices for them to close their books at year end. Whenever i owned anything like value them at 20 cents on the dollar at best. Thats why i only owned two distressed bonds. I couldnt value them. I couldnt get a legit quote. Everything seemed overstated. Thats why i decided to quit buying any hard to value assets so i didnt overstate my year end performance. It was wrong. Could that be why the firm went wrong and decided to gauge it without any clearance from the government because it was so overstated in value that it would be a strav city to put a real price to these assets . I dont think i could call a trading desk and get a quote anywhere near where i see them valued at. I would think the same way about any other firm stupid enough to own this horrendous paper. No fund like this should be allowed to be marketed to individual investors ever again. Yes its that much of an offensive strategy. Its one that no one should ever be permitted to swim in. Break. Absolutely love my new york apartment, but the rent is outrageous. Good thing geico offers affordable renters insurance. With great coverage it protects my personal belongings should they get damaged, stolen or destroyed. [doorbell] uh, excuse me. Delivery. Hey. Lo mein, szechwan chicken, chopsticks, soy sauce and you got some fortune cookies. Have a good one. Ah, these small new york apartments. Protect your belongings. Let geico help you with renters insurance. man sternly where do you think youre going . Mr. Mucus to work, with you. Its taco tuesday. Man youre not coming. I took mucinex to help get rid of my mucusy congestion. Im good all day. [announcer ] mucinex keeps working. Not 4, not 6, but 12 hours. Lets end this i take pictures of sunrises, but with my back pain i couldnt sleep and get up in time. Then i found aleve pm. Aleve pm is the only one to combine a safe sleep aid plus the 12 hour pain relieving strength of aleve. Im back. It is time. It is time for the lightning round. And then lightning round is over. Are you ready . Time for the lightning round. In my home state of new jersey. Booyah, jim. What do you think of pep boys. Its played out. I know that you can still get a little bit more. But thats not our style. Lets go to don in ohio. Don. Booyah jim. Booyah. I need your help. Million to over 30 million Short Interest increase in a two month period. The stock being in financials. Its in acquisition isnt it . I mean thats what i thought was happening. I think that its terrific. I still think that key is great. If you think fed is going to raise rates thats a good one to be in. Lets go to joe in new jersey. Joe. He will low, cramer. The beautiful melissa lee had nothing but great things to say about you. It was a lot of fun. My stock is hain. It missed the quarter. He has to do a better job. Longer matters as much. Thats part of the problem. Lets go to bob in washington. Bob. Big booyah too you jim from tacoma washington. No, that is troubled. Im not going there. Andrew in new york. Andrew. Andrew. Booyah, jim. Big booyah with cheese on top. I like that. My stock is valero. Oil is down a lot and the refineries continue to make money. Im not a fan but people do love it. Mike in ohio, mike. Hey, jim, how are you . Love the show. Thank you. Whats your opinion on equifax. That is just a Financial Service company that this market the market is right. And that, ladies and gentlemen, is the conclusion of the lightning round. Lightning round is sponsored by t. D. Ameritrade. I have asthma. One of many pieces in my life. So when my asthma symptoms kept coming back on my longterm control medicine, i talked to my doctor and found a missing piece in my asthma treatment. Oncedaily breo prevents asthma symptoms. Breo is for adults with asthma not well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Breo wont replace a rescue inhaler for sudden breathing problems. Breo opens up airways to help improve breathing for a full 24 hours. Breo contains a type of medicine that increases the risk of death from asthma problems and may increase the risk of hospitalization in children and adolescents. Breo is not for people whose asthma is well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Once your asthma is well controlled, your doctor will decide if you can stop breo and prescribe a different asthma control medicine, like an inhaled corticosteroid. Do not take breo more than prescribed. See your doctor if your asthma ask your doctor if 24hour breo could be a missing piece for you. See if youre eligible for 12 months free at mybreo. Com. Ugh heartburn no one burns on my watch try alkaseltzer heartburn reliefchews. They work fast and dont taste chalky. Mmm. Amazing. I have heartburn. Alkaseltzer heartburn reliefchews. Enjoy the relief. Man sternly where do you think youre going . Mr. Mucus to work, with you. Its taco tuesday. Man youre not coming. I took mucinex to help get rid of my mucusy congestion. Im good all day. [announcer ] mucinex keeps working. Not 4, not 6, but 12 hours. Oil is in charge again. Even if it shouldnt be. Early Morning Hours give me a chance to examine how much oil is in control of this market. The whole s p 500 is insanely powerful. Oil was flat early this morning before any news flow and that sent the s p 500 futures into the stratosphere. Its the green one, okay . To nose dive. And then oil went back and the futures rebounded. 16 states derived income from oil and gas. Thats it. Of those texas, oklahoma and North Carolina, ohio, alaska, louisiana colorado and california are impacted by lower oil prices. Look at the net impact and jobs everywhere and its a cheap feed stock and cheap recruiters is a net negative only for North Carolina because of the high cost of balkin oil and the difficulty of getting into the markets. You layer in the savings and natural gas because its so warm anyway and its more of a net benefit to the country. How about all the debt that the oil and Gas Companies layered on though . What happens if they default. Its an issue. Definitely. Theres maybe as much as 300 million in debt in this industry. That could be a huge hit. It could be bad. But heres an astonishing number. The housing collapse, 20 times 20 times that figure went bad. Lets say all the 300 billion in debt goes bad. It would still only be a fraction of just the 6 trillion in housing related debt. Right here, right now. Thats a big number. But not one they is sink in the bank. Nowhere near. However it can sink the funds that invested a lot of money in this oil and gas firm which is mutual funds. Hedge funds dont have to open up the gates. Now i could easily say the oil futures and s p futures are just plain wrong, this whole thing is ridiculous but in the new world where correlations matter more than whether they make sense we cant break the linkage and it can drive you crazy. Does it really make any sense at all that alphabet, the company formally known as google saw its stock swing from 736 to 762 because of oil reversing its downward trajectory . And it rallied a buck . Thats actually what happened here. Does it make sense . Of course not. Thats why we keep saying were in crazy town. Were only going to be able to make money on the long side if something nasty happens to the supply of oil. The demand cant take us back. Given that the saudis pumped more than anyone i dealt with thought. Its difficult to think of any sustained advance in this we can have spikes like today. One day well escape from crazy town. It hasnt happened yet. Even a small portion of high yield debt and 8 of the s p and a whole lot of partnership should be impacted here. Not google for heavens sake but thats how it is. I dont make the rules. I just try to help you understand them. Even if theyre as wrong headed and as stupid as i have ever seen. Stick with cramer. Phil oh no. under his breath hey man hey peter. unenthusiastic oh. Ha ha ha joanne . Is that you . Its me. You dont look a day over 70. Am i right . Jingle jingle. If youre peter pan, you stay young forever. Its what you do. If you want to save fifteen percent or more on car insurance, you switch to geico. You make me feel so young. Its what you do. You make me feel so spring has sprung. I couldnt sleep and get up in time. Then i found aleve pm. Aleve pm is the only one to combine a safe sleep aid plus the 12 hour pain relieving strength of aleve. Im back. Aleve pm for a better am. Enough pressure in here for ya . Im gonna take mucinex sinusmax. Too late, were about to take off. These dissolve fast. Theyre new liquid gels. And youre coming with me. You realize i have gold status . Mucinex sinusmax liquid gels. Dissolves fast to unleash max strength medicine. Lost in the shuffle and apple call that we got from a Research House saying that apples iphone 6 may not do as well next year. Here we go again. Thats that channel check we keep hearing about where they made some calls and turned out that it wasnt doing as well. Apple sells at 12 times earnings. My advice is not to trade apple off the channel checks and actually to own the stock