I feel good about it. Steph and i talked before the show ive tried to be cute at times, did in the beginning of september, if you remember i thought the market had a lot to overcome from a trading standpoint you have put a small position on, but listen, this is a market that punish eds you. You need to get out quickly to see where we are today i love whats going on with technology the software play is the play that i have. Its the the three big names. Its microsoft, its s. A. P. , its red hot, and im not looking to get out of any of them. Steph, you know, we mentioned mike wilson who is the the gentleman we were alluding to at the very top of the show i of Morgan Stanley. Sat right here hat the desk recently saying theres greater risk of a correction than hes seen in a while. Points to the Balance Sheet reduction from the fed uncertainty around the next fed share. Negotiations on text legislation. Counter trend dollar rallies is he wrong . Those are all real risks, no. For sure, and i think expectations are clearly high headed into earnings, but i think earnings are going to be very good. I think the Economic Data has been pretty good look at that empire state number the best number since 2009, and it was shipments, employment, new orders underneath the surface the numbers are strong, so if the question is valuation and the expectations, again, are elevated, but thats why if you have a little extra cash around earnings, if you see sell the news, i think youwant to buy the strong fundamental stories, particularly the ones joe was just mentionings. Cramer, october 6th welcome here, good to have you back. Thank you. Heres what we said on october 6th. Im a little less constructive the last part of the rally on the on sense of news when all we were hoping for was a fed rate hike and a tax cut nobody is worried as i am. Im worried. Im worried. Stocks are higher today than they were then. Yes, they are, and maybe im too worried about some retailers and some of the consumer packaged goods stocks and not really that the coloration of the market has become cleveland if its from cleveland its good, okay ill give you a classic example of what im seeing ilgo over the charts in the weekend and tend to know a lot of stocks. Theres like ten of them saying, well, gee, ive got to really a avatar group, acute names that come around and then i look at illinois to works, one of the Great American companies, and if you take a look that stock was at 150 and then it dropped to 136 and then it went back. What im saying is as much as i like the work of the Morgan Stanley wilson, what you have to do is look for individual breakdowns in stocks that shouldnt have broken down Lamb Research after the last quarter, the stock with endown the. It shouldnt have. Im looking for situations that make no sense versus the fundamentals. So, are you saying that the correction that were all looking for in the overall market is actually happening in individual stocks . Exactly. Weve had this rolling correction. Its positive. Yes. But thats in sectors. But the market keeps going up regardless that have. Remember when amazon went down, was well off a thousand, amazon have decided its an investment year. Its amazon. Right. And the only things not working are something where you hear amazon and another amazon cosmetics, amazon sports power, amazon, i mean, amazon. Sorry, costco. Dont you think its interesting that energy has actually started to catch up and also kind of the material stocks chemical stocks have done well yeartodate but steel and iron ore and copper and that to me is very encouraging because that suggests the global synchronized growth stories. Were out of stocks, steph. How many what i was saying when i was saying those word cat florida kept going up because theres not a lot of cat flars when we got in the business there were like 25 companies that liked caterpillar and now theres like united rental which doesnt use caterpillar. This might have been the day of the microsoft throw in the towel. I cant take it anymore. Im waiting, waiting, waiting for a correction hell, were not getting a correction. Turned out to be right. That was a good call what was weird about that microsoft call was that he said i think its going to keep going higher so ive got to get on, and thats what i dont like i dont like the socalled multiple expansion but if stephanie is wright and the earnings are better, youll be left behind for good. Apple is a classic example of what hes talking about. Yes. What did we have, a 10 decline in apple right back to 160. Traded down to 150 and people freaked out. The it actually dipped below 140, 150 rather and everyone got excited. 149 and now back toward 160. But i think energy is indicative to what jim was talking about when you mentioned before the show about japan and you have to look at the flow no one has energy right now. No one is long energy. Because it its been painful. Its killed you. A lot of people same as japan. Ive got a lot of people long tax cuts, tax reform. Taxes. Should you be tax reform or long yes, short tax reform because what matters is once again when he cuts the subsidies to the states puts health care front and center behut health care right front and center again, he being President Trump. I called him trump last week and people were fearious its President Trump. Came after you on twitter its lincoln, no, president lincoln. You cant make a move. You cant make a move if you talk even if you put mister in front of it. Youre a bad guy youre a bad guy, but i do think that the apple piece is so right because what they are seeing is listen if you give us a is a multiple it deserves to trade radically higher it was at 150 and nobody liked it again, thats the intra, you get these different declines, and you either buy them or you miss it and they come back. Alphabet. Unless youre taking about ge. Right down to 135 and back above 1,000. It was because you didnt want to put your ad next to cryptonazi contempt. At 1,000 suddenly theres no cryp crypt nazi content mark penn, a very noted pollster and he said the amount of money that that the russians like threw in versus say like what hillary threw in, he did raise some interesting point i used towork with mark, Money Management mark had some great ideas, but the idea that you suddenly sold down facebook because of content now people are saying why did i sell it . Because theres a lot of potential risk around it all of a sudden, no well you know what lets hold the thought President Trump holding a Cabinet Meeting today. Right now well, hes out from it now. I would like to basically provide you with an update as to how were doing for the american people, and were doing a lot of great things the Unemployment Rate is at an almost 17year low the stock market is soaring to record levels. We just hit a new high on friday and i think were hitting another new high today because theres tremendous amount mitchell having to do with business in our country. Gdp growth has reached more than 3 last quarter and other than the hurricanes would have done phenomenally this and i think well still do very well but something will have to be taken off because of the tremendous problems of the massive hurricanes that weve had to endure, and now i guess you can probably add the wildfires in california, but the economy cannot take off like it really has the potential to do unless we reduce the tax burden on the families, businesses, workers of our country, and well be able to do that i think were getting tremendous receptivity from the people i hope we get the same receptivity from coming, but we are getting tremendous accolades for what were doing having to do with both reform and with the massive tax cuts it will be the largest tax cuts in the history of our country. Were one of the highest taxed nations in the world, right now costing us millions of jobs and trillions and trillions of dollars. Its time to restore americans Competitive Edge one point in gdp would be 2. 25 trillion, think of that, revenues we go up from 3 to 4, and when i began, we were in the 1s, and now the last quarter were at 3. 2 , and were going up higher, but if we went as an example from 2 to 3 or from 3 to 4, talking about 2. 25 trillion, and were also talking about many millions of jobs so we want to also reduce excessive government spending, and thats what were working on at our Cabinet Meeting today as we head no next years budget season, ive asked director mulvaney to come up and find various savings in all of the departments that are gathered around the table which is everybody. I need my cabinet to work with director mull vein toe fight these spending cuts, fight for them and make sure that they happen, and we want to make the department as lean and as efficient as possible. At the same time well be departments with lots of heart, lots of heart. One thing were going to be looking at very strongly is welfare reform thats becoming a very, very big subject, and people are taking advantage of the system and then other people arent receiving what they really need to live, and we think its very unfair to them, but some people are really taking advantage of our system from that standpoint, and we are going to be looking very, very strongly, therefore, at welfare reform its going to be a very big topic under this administration, and it started already, and we have a lot of a lot of recommendations that were going to be making, and youll be hearing about them very shortly. The other thing were doing that relates to peoples lives is the Prescription Drug prices are out of control the drug prices have gone through the roof, and if you look at the same exact drug by the same exact company made in the same exact box and sold some place else, sometimes its a fraction of what we pay in this country meaning as usual the world is taking advantage of the United States. They are setting prices in other countries, and were not the Drug Companies frankly are getting away with murder, and we want to bring our prices down to what other countries are paying or at least close and let the other countries paying more. They are setting such low prices and were subsidiesing other countries. Thats not going to happen anymore. Thats been going on for years where our people are paying so much more for i dont mean they are paying 2 more. They are paying double, triple, qua group. They are paying so much more that its very unfair to the United States, as usual. Last week i also sent a letter to congress outlining my administrations Top Priorities for Immigration Reform this was a bottomup effort driven by dedicated Law Enforcement professionals, and they took a big oath to protect our nations. The Justice Department is doing a fantastic job on the border and with regard to immigration, more than anyone has ever seen before from a Justice Department thank you very much, jeff. Its really had an impact and a very positive impact and now were going to take it to five steps further. Our proposal closes dangerous loopholes hand vulnerabilities that enable illegal immigration, asylum fraud and visa overstay tsz. The slicea overstays, youre talking about numbers that nobody even knows what they are they are so out of control and were going to take care of that when you look at whats going on in mexico, mexico is is having a tough time right now in terms of crime more than ever we need the wall. We have drugs pouring through on the southern border. They are literally pouring through, and we have to have the wall were going to have the wall, but if you look at just whats happening on the other side of the border with the tremendous crime and the tremendous problems going on. We have a very Good Relationship with mexico, but there are a lot of problems, and we dont want the drugs and we dont want the crime but we need the wall weve asked congress to ensure that any proposed Immigration Reform ends chain migration. One person comes in and then brings everybody and his family with him or her, and we have to end chain migration which is critical for creating a system that puts American Workers and the american taxpayer first. Last thursday i proudly nominated Kirsten Nelson to serve at department of Homeland Security and i urged the senate to quickly confirm this tremendously qualified nominee i asked them to confirm the other nominees the democrats have terrible policy, terrible, and they are very good at really obstruction, and one thing they do well their policy is no good and im not even sure they are very good politicians because they dont seem to be doing too well. That could be because of their bad policy but they are great at obstruction and we have half the nominees that president obama had at this time which is very unfair they are taking everybody right after the final moment and in many cases confirming them with tremendous majorities, but they are bringing them out purposely, right down to the final. We have people that are totally qualified, are going to pass and have to wait a long time and its total obstruction can i say the same thing with our judicial nominees, our judges we have some of the most qualified people the wall street journal wrote a story about it the other day that this is some of the most qualified people ever, and they are waiting forever on line, and it shouldnt happen that way its not right, and its not fair i want to thank acting secretary elaine dute for her leadership in responding to the catastrophic storms that have struck our nation and our territories. Weve also issued a disaster declaration in california in response to the devastating wildfires like weve never seen, and we mourn the terrible loss of life. We have fema and First Responders there we have our military helping its very sad to watch how fast, how rapidly they move and how people are caught in their houses its its an incredible thing, caught in their houses, so we have a lot of people helping government in california and made a lot of progress in the last couple of days, but were a little subject to winds and what happens with nature, but its been a very sad thing to watch we also continue to pray for the victims of the mass shooting in las vegas. We cannot erase the pain of those who lost their loved ones but we pledge to never leave their side were working with them very much so with the fbi and Law Enforcement, department of justice, and i guess a lot of people think they understand what happened, but he was a demented, sick video, wires crossed extremely badly in his brain and its a very sad event. In each of these tragedies weve witnessed, however, a tremendous strength and heroism of our people each up of these tragedies that weve had, weve witnessed such strength and such heroism. When americans are unified, no Destructive Force on earth can even come close to breaking us apart. We have a lot of work to do on behalf of our magnificent country and our extraordinary citizens a great trust has been placed upon each member of our cabinet. We have a cabinet that there are those that are saying its one of the finest group of people ever assembled as a candidate, as a cabinet, and i happen to agree with that. Of course, i should agree with that, but i think we have an Extraordinary Group of people around this table. This is a tremendous amount of talent, and i wouldnt say i was necessarily looking to be politically correct, although i ended up being politically correct because that was right thing to do in every sense of the word however, we have we have just gotten really, really great people im very proud of them, so were going to work on all of those things i just outlined and many more you know we have the iran deal that right now is being studied, and i think a lot of people agreed with what i did i feel strongly about what i did. Im tired of being taken advantage of as a nation this nation it is a been taken advantage of for many, many years, many decade frankly, and im tired of watching it, but the iran deal was something that i felt had to be done and well see what phase two phase two might be positive and it might be very negative. Might be a total termination thats a very real possibility some would say thats a greater possibility, but it also could turn out to be very positive well see what happens i thought the tone of the iranian leaders was very modified, and i was happy to see that, but i dont know if that means anything they are great negotiators they negotiated a phenomenal deal for themselves and a horrible deal for the United States, and were going to see what happens the health care, as you know, is moving along knocked out csrs that was a subsidy to the Insurance Companies. That was a gift that was frankly what they gave the Insurance Companies, take a look at their stocks take a look at where their stock was when obamacare was originally approved and what it is today youll see numbers that anybody if you invested in those stocks, youd be extremely happy, and they have given them a total gift they have them, you could almost call it a payoff, and its a disgrace, and that money goes to the Insurance Companies. We want to take care of poor people we want to take care of people that need help with health care, and thats what im here to do, and im never going to get campaign contributions, i guarantee you that, from the Insurance Companies, but a lot of other people got them take a look at the democrat. Take a look at how much money has been spent by the democrats and by the Health Companies on politicians generally, but take a look at the coffers of the democrats, so the csr payments has actually brought republi