Dow plunging 252 points. Nasdaq nose diving. One of the worst days of 2015. Why dont we use todays session as a teaching school, how sometimes it simply pays to sit on your hands and watch things unfold until they get less insane. Thats always been my view on days like today. When the sun came up, it looked like the stock market would make back some of its losses. First, we didnt know the cause of the shootings in california. We would just once again wake up to the sadness of a mindless, tragic incident and lament the trauma. There were no other incidents, a la paris, where there were multiple ones. It was hoped this was not part of a coordinated terror attack. That emboldened buyers. To them it looked like a rebound was in the cards. You could argue we live in a terrible hurt when people take heart that San Bernadino wasnt part of a larger mass attack. The market opened higher before we knew about a terrorist connection. We felt better because a European Central banker who was famous for saying he would get europes economy by any means necessary, announced his next set of initiatives. Hes synonymous with global growth, so big money likes ahead of time to be invested, perhaps as much as possible, even borrowing money to take advantage of what his next really positive move might be. Hes creative foellow, theyre always surprised to the upside. But this morning draghi didnt deliver. It made the big investors think draghi is out of options or is satisfied with how things are progressing. In fairness to that man, he is data dependent, and frankly the data out of europe lately has been strong, much of it stronger than the data from the united states, ironically. Hey, look, we know this ourselves. I know its anecdotal, but bph told us last night europe is now the strongest market. Draghis less aggressive ways had two impacts. European markets were crushed. The dollar plummeted versus the euro. Both developments were equally unexpected. Both were totally out of sync with what the large macro hedge funds were expecting, guys who buy continents in stocks and bonds but not individual stocks so much. You know what, these hedge funds were caught long stocks and short the euro. These managers assumed the euro would go down and european stocks would reply because of that competitive advantage because of the strong dollar. They were wrong and panicked immediately, dumping stocks and buying euros to unwind both trades. Smaller investors dont do that stuff. I dont want you to fret over it. Big hedge funds are always making these snap decisions, then rapidly undoing them when they dont work, like this one, typically because theyre using borrowed money. Also, when you make a trade and the trade goes awry, you try to undo it as fast as possible. For some reason these same macro traders imported the negative, the selling of stocks, but they didnt import the positive, the decline in the dollar. Why did that happen . More madness. Theres no doubt in my mind that this 3 gain in the euro is usually positive for u. S. Based companies. You know i fret, we should therefore should take heart when the dollar is weaker. But too many investors were freaked out when draghi didnt deliver, so they decided the heck with everything, even as it was the dollars bigst oneday fall against the euro in six years. Thats lunacy. Its either a flat out misjudgment by the market, and that happens, we know that, or a judgment that the euro will not stay as strong as it did, and once the Short Covering is over, the trend will reverse. Another change today, a huge jump in our Interest Rates. Remember, investors can and have been comfortable owning stocks in periods where weve gone over time higher rates. Gentle, sloping, higher rates. However, this was the single biggest move up in Interest Rates in two years. Thats unsettling. What triggered it . Despite worries about a decline in manufacturing jobs, ill talk more about that later in the show, i think theres widespread belief that the labor market is growing tight. We had strong jobless unemployment claims today. Therefore the nonfarm labor report coming out tomorrow will show theres genuine wage building. In other words, inflation will make these low Interest Rates a crummy investment. Remember, investors want to get the a didnt evecent return. Theyre betting bonds will lose value, yields will go higher, and theyll buy them back. Billion of dollars in bonds are easy to sell and easy to buy back. When that happened, the pain reverberates into dividend stocks like the ones with high yields. Utilities, Real Estate Investment trusts. They were obliterated today. When they trade like bonds, they go down like bonds. I always tell you, when it comes to figuring out the value of stocks, it matters what the companies underneath are doing. Are the companies bullish about the future . Are they raising their forecast . Typically if the answer is yes to all of these, then stocks go higher, right . However, tre is a moment where it wont happen, when the markets worried about inflation, and investors dont want to pay up for a companys future earning streams. Inflation erodes the value of future earnings. Think what companies had the greatest potential, not near term but down the road. Biotechs and the highest Growth Technology stocks without earnings. And thats what got pushed today. Those with big earnings went up. Given that we dont know when Interest Rates will be done going higher, what happens if you get a very strong employment figure tomorrow . Maybe the fed will have to put through several rate hikes, sooner rather than later. Then these stocks lose value very quickly. Today was the prelude, perhaps. Were not done with the craziness. He saw the shorts locking gains just in case the saudis decided to stop pumping like mad, which caused the price of crude futures to rally. Highly unlikely scenario, that the saudis blink, but nobody ever got hurt taking a profit. Oil stocks themselves were all down. They were all down despite all going higher. Thats crazy. And not like a fox. Crazy as in, i dont know which ones right so why not wait and see what opec says. Kind of like waiting to see what tomorrows employment looks like before taking action. The craziness makes you want to say, whoa, too crazy. Finally theres the ultimate insanity, the sadness of terror and death in california. This market was going down, but in a rather subdued way, until some news outlets reported that the killers had terrorist advertise. In other words, they may not have acted alone and could be part of a larger conspiracy, something that people had thought wasnt the case. Its always difficult to link real life tragedy with something as pedestrian as money. I went home last knignight and , i hate doing shows about money on days like today. I have to do it, its my job. Mayhem produces fear. Fear produces selling. They go hand and hand. Some days are too alolooney to tight. I dont blame anyone for taking, its too darn crazy, im going to take money off the table, or just embrace less risk. When that happens, you get selloff. Thats why i walked you through it. I dont know when it will end. Remember, the selling always stops eventually. And with it come baby bargains thrown out with the earnings weakened bath water. Lets go to richard in florida, please. Richard. Caller a big booyah from miami, jim. Good to have you on the show, richard. Caller first and foremost, thank you and your staff for all you do, we greatly appreciate it. My staff is unbelievable. When i walk in here, i always brighten because my staff is so great. I cant do that in a lot of other places, particularly not eagles games. Go ahead. Caller my question is about sprint. Recently sprint went through a lot of management changes, also introducing a lot of new promotions, slashing their prices. I had recently purchased some shares, and theyve gone down a bit. Do you think with these new changes, its still a good investment . What are your thoughts . I think its a decent speculation. It matters whether the big dogs will put money in. They have to do so much to stay competitive with tmobile, verizon, and at t. That stock is at 34. Youre in a tough group and you have to accept that the overall markets not being kind to the telcos. Lets go to frank in new york. Frank. Caller good evening, mr. Cramer. How are you, sir . I am fine, how about you . Caller im well. Im a long time fan, first time caller. My wife and i are both children of parents of that greatest generation and weve followed their lessons. I listen to what you say. I appreciate your wisdom. And i love your storytelling of life lessons and family. A wonderful hour every day. Thank you. Caller my question involves popeyes. I have seen it go down to 15 to recover 20 . Would you hold it or sell it . I would absolutely hold it, the quarter wagreat. When my mom was sick, they opened a popeyes, she says, go get me that popeye. Ive always had a jones for the stuff. The quarter was good. More important, the fact is that the ceo has delivered consistently and taken share in her business. Im backing her. And she runs popeyes louisiana kitchen. Today was just too crazy. I know it was too crazy for a lot of you to sit tight. Unfortunately we dont know when the madness will end. But it always does. You may be hoping for a fitbit in your holiday stocking this season. I am. Does it belong in your portfolio . Im sitting down with the ceo to find out. And foot locker versus finish line. One is on the right foot, one on the wrong one. Im finding out why. 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Now that weve gotten through black friday and cyber monday, many retail analysts are starting to anoint winners and losers. Three different analyses have ranked fitbit as a major winner, even though its stock has been under some pressure because of insider selling. The positive comments havent gone unnoticed. It closed up 2. 62 . Last week fitbit announced a major improvement to their technology ecosystem. Now their devices can automatically track your body while exercising, something that should make them even more popular as a Corporate Wellness tool. Still, the stock is down from where it was a month ago. James park is the cofounder and ceo of james park. Mr. Park, welcome back to mad money. Good to see you, sir. Good to see you. You have to distinguish between companies that have a hot product thats selling and companies that have a hot product thats selling where the Promotional Price isnt that discounted. Analysts say its selling and havent had to give big discounts versus other consumer products. Exactly. Thats because of the strength of the fitbit brand and the Loyal Customer base weve built up over the years. Are you seeing people move up in terms of cost of the devices, where people are going from elementary to the search . Thats a trend weve seen, with the launch of more attractive devices to consumers today. Ive been fixated on the notion that if i bring in fitbit to my workers, they all might take care of themselves more. I was astonished to see that one of the Department Stores that called you out was target. Exactly, target called out charge hr as one of the best selling devices of the holiday season. Thats also a device that target employees are using a lot of as well. Just recently, target announced they were making fitbit Devices Available to over 300,000 employees. Their staff is using it, theyre recommending it to customers. Are they competing against each other . Theyre competing. That social aspect is a big driver. I thought it was interesting, best buy, which i regard as a place to buy hardware products, and macys, more like apparel, both called out your company. Is that because theres a design issue too, that people like the look of it, so to speak . I think it just speaks to the wide and broad range of appeal of what were doing with consumers in the u. S. Macys, it speaks to the target customer, a lot of women shop at macys and theyre a core demographic forfe fitbit. Ecosystem, youre now doing third party half what are people coming up with . Theres a lot of innovative things going on. Right now theres several thousand third parties that have integrated into the fitbit ecoask me. A big trend were seeing is integration of fitbit into healthcare. Weve seen several examples were developers have created smarter interfaces to make wearable data more presentable to physicians. Are you international . Its across the world. Demand is widespread. I talked to you about the conversion of the share base. You said this is what happens when people by nature have to liquify, and now were going to a group of people who are users, the earnings profile. Where are we along that continuum . I know theres another lockup expiring and people say, jim, why havent you mentioned that, there might be a better opportunity coming, ginn what happened with the last one. What were trying to do is orchestrate a soft landing and transition for everybody involved. Thats why we did the followon offering. Meaning which locked people up . Which locked existing investors up for another 90 days. I think that was a great thing we did for the benefit of all shareholders. I know youre loath to talk about the exercompetitor. The competitor is not necessarily apple. People dont seem to get it. Could you please explain that you can have parallel universes . Exactly. Were all about Digital Health and wellness. Im excited about what were going to launch in 2016. Well have products with more sensors, algorithms. Theyre going to be much more focus on fashion. And most importantly, theres going to be a lot of improvements in the software that give people more analytics, coaching, guidance. Would that be the kind of thing that a Major Insurance Company would say, this is the data i wanted, if people give the fitbit and you can show us the numbers, we can give you a better group rate . Thats the holy grail of this category. Thats going to happen. Thats going to be a huge Inflection Point for the business. I agree. James park, cofounder and ceo of fitbit. My family loves it. Well be back. Coming up, finish line versus foot locker. These two leading retailers offer many of the same brands of athletic apparel. Lately foot locker has been running wild all over their competition. Will finish line be left in the dust or is the shoe now on the other foot . Cramer laces up the trainers, next. Two companies. Same business. Totally opposite performance. Im talking about finish line and foot locker. Two major footwear retailers whose stock couldnt be more different. Finish line is down more than 33 . How the heck is that possible . They sell shoes. Why is foot locker outperforming finish line . Finish line has roughly 1,000 stores in malls and foot locker has more than 3400 locations. Both companies have seen the pace of their growth rate shrink down to the 3 range as of the last quarter. It doesnt seem to be about earnings growth. Finish lines numbers have been better than foot lockers. But when you take a look at most important metric, same store sales, thats the most critical piece of data in retail. Foot locker is reporting much stronger numbers, increased by 8. 7 . Before that, 7. 8 . Before that, well, versus the last time that finish line reported, 1. 5 . So you had that midhigh Single Digits versus 1. 5 . Foot locker is actually eating finish lines lunch in the most important metric out there. Theyve been beating them on this line item for ages. Thats very impressive. Whats the reason . Finish line is struggling to stay on trend and capitalize on heavy demand for athletic shoes and apparel, in part because theyre heavily based in the mall. The industry has been on fire. You buy basketball shoes and basketball rolls around. Somehow finish line has seen its numbers decelerate, where under armour and nike have seen their sales skyrocket. If you average out finish lines same store sales, it had its slowest back to School Season since 2009. On the most recent Conference Call management said they expect numbers to remain in the low single digit range. The companies believes they were too slow to make the transition away from performance shoes to more casual shoes, which is what customers seem to be favoring these days. The question Going Forward is to see if finish line can get the right merchandise. However, with so many stores in macys, which is having a really hard time right now, and so many mallbased locations at a time when people dont want to go to the malls anymore, i wonder if finish line can revitalize itself. Foot locker has been able to deliver powerful same store sales, despite a crummy retail backdrop, consistently delivering the best comps in the retail sector. They have subbrands that make it easier to connect with their customers, east bay for serious athletes, lady foot locker. Plus unlike finish line, foot locker has the merchandise people want. Its latest strong numbers were driven by robust sales of running casual classics and boots. Beyond that, while finish line is a strictly domestic operator, foot locker has an international presence. Right now that business, like nikes, is very strong, with high single digit same store sales in canada and numbers in the low teens in the asiapacific region. Finish line, most of the stores are mallbased. Foot locker has managed to transcend this trend because the instore experience is very important. Most people still try shoes on before they buy them. Foot locker has focused on remodelling its stores and they expect to have 45 of locations revamped by the end of that i 2017 fiscal year. Weve seen over and over how these plans work. What else . After eight years of closing down underperforming stores, foot locker