Stock of the day today mens warehouse. Retailer getting a boost after they are considering alternatives for its k and g stores. This is one of the companys weaker performers. Jay juror done, you dont wear anything from mens warehouse. Dont think so. Youve been doing business in china for about 20 years. We just saw the big 60 minutes piece about what may and bubble or not. Whats your view . Nobody knows. First place, you cant really trust numbers that you receive. China has to convert an outdated economic model, basically driven by investment and exports to a domestic consumption model. Their export markets are not going to disappear but substantially appreciate. The r an d is going to appreciate and they wont have the same competitive advantage. They have to grow their domestic consumption. Now what we saw on cbs was a building after building, real estate, empty. Thanks for joining us today. Mike, thank you. That does it for us. Right now it is time for squawk on the street. Good morning. Welcome to squawk on the street. Live from the New York Stock Exchange. Futures are toying with another addition to the dows winning streak. Now nine days running. Jobless claims were a nice beat, got mild core wholesale inflation as well. Europe nice morning there especially in italy and a relatively mixed session in asia. Our road map begins with a dow streak that might be tepid but it sure is stubborn. Cramer who says he used to actually own a bull is here to explain the bullss behavior. Norman the bull. Apple gets a long awaited upgrade this morning to a buy as samsung gets ready for its moment in the spotlight when it reveals the new galaxy in new york city tonight. Jpmorgan cuts amazon to neutral. Is it time to reevaluate . Cramer added to his gatsby index. Well run down whos been added. The dow posted an alltime closing high for a seventh consecutive session riding a nineday winning streak. The longest since 96. The s p, 11 points away from its own record high with futures moving higher. The watch is on to see if more market history will be made. Two points, jim, on the dow. I guess you count it but theyre certainly cutting it close. They always say the most exciting, maria its the most exciting three minutes. Have you seen that discussion we have to wait to see it settle . I will say that it is once again transport driven and that makes a lot of people who are old what a tie. Im sorry. Hes a great dresser. Im trying but im not in your league. I didnt mean to be thats okay. Its mens warehouse that made me think of it. Transports always make an old fuddyduddy like me feel better. Theyve been the leader. That makes a good impression on the rest of us. Transports and the small caps, russell, closing at record highs as well. Confirmation for dow theorists in this move in the Dow Jones Industrial average. We should note materials lagged in yesterdays session. That has been the laggard so far in this bull advance. Last night jim you say bulls rest, bulls can be lazy, bulls can even go down to the turn shed when it rains. Because you know this. When i ran into star norman, he cost a fortune to do what he had to do. Farm out in jersey. Every time it rained the guy ran into the shed. Cows wont even be out there. Didnt kind of perform the way it was supposed to. Maybe the situation wasnt ideal. But bulls do rest. We have the image of bulls always climbing, in a ring, or pamplona. No. I like the analogy only from the point of view that resting is working here. You mention the materials havent perform that well. When you go back to the 100072008 advance, what led us . Peabody put on 50 points between january 2007 and june of 2008. Cliff national went from 124 to 120. Freeport was a huge bull, 33 to 61. I think last one before i stop boring people. Pot ash had a miracle move. 30 to 113. I dont want those stocks doing well and theyre not. Boy, are they ever a nightmare. When you get u. S. Steel putting on 100 points, when you get ak steel being a leader, thats what happened last time. I love this leadership had it is not those companies. But you want those groups to participate. Maybe not lead but you want them to participate. You want technology to be trading at a lower pe than the rest of the market. Theres room for tech to go. I just dont want us to be led by a company like an ak like chesapeake. 27 to 69. Apache doubled during that period. Those are inflation stocks. I love this piece in the journal talked about natural gas being low and the energy boom is keeping a lid on inflation which make the dollar stronger for good reasons, not bad. I guess im saying i still like the backdrop of the economy more than most and was gratified proctor cooled yesterday, k kimberley cooled. There is the sentiment, some anxiety things have been quiet, almost tranquil in a way. Its a western . The man who shot liberty prokt sfer. Invariably something always comes. I dont know whether it will be. Geopolitical as we worry or wonder or watch things in iran or north korea. I know. Im just 1996. It was pretty darn good for a while. Wasnt until the asian contagion, nine months later. Then we got long term capital, then the fed lowered rates by 50 basis rates. Off to the races like never before, ever. That being said, this is 20 13. Not 1996. Were doing stress testing on banks like we werent doing back then. Well get more results tonight. We dont have the internet just beginning to blossom. No, but we do have situations where im reading about the elephant in the room which is the galaxy. Suddenly theyve got a keyboard ive been trying to get that keyboard. It does not get me wrong every single time. It remembers what ive got, what i want. You see the keyboard, israeli keyboard that deemphasizes some keys because you dont use them often . Lets gatalk about samsung. Debuting the galaxy at an event tonight. Apple is down playing competition from samsungs new smartphone and slamming the product. He tells the wall street journal fragmentation in the android world is plain and simple. Android is given as a free replacement for a feature phone and the experience isnt as good as an iphone. The timing of this the day before the launch of the galaxy and him coming out saying, that is a lousy experience when the numbers dont necessarily bear that out. Money talks, Something Else walks. Buy that stock, raise the dividend, come up with a better machine and buy netflix. Okay . There. All right . Is that so hard . This upgrade we got today is very good. Lets give them 5 billion worth of product that we never heard of. Thats old days. Theyre working on something and you dont believe it. You dont feel that anymore about apple. Think maybe theyre working on hiring a great money manager and creating the Largest Hedge Fund that weve ever seen. You can manage 150 billion. Youve got money coming in all the time. You can generate a 10 , 12 annual rate of return on that money. At some point amen. Youre saying that if bernanke lets rates go up youre raising your price target on apple. I say maybe go the Asset Management route. Generate all the cash on the side isnt that how it is already . Compound tax free offshore, then eventually return. You want to see how much they own in real estate, in goal, in forex . Right. Were going to talk about exactly. Bridge water oh, how is apple doing . The analyst out of btig is on the 11 00 hour this morning with us. To his credit he cut the stock when it was 634 last april. Missed some of the up side but missed a lot of the downside. He does point out theyre probably going to miss. Guidance is probably going to miss. Management doesnt know what to do with this money. Theres products we dont know if theyre in the pipeline or if management will even pursue them but hes giving them a huge benefit of the doubt. I thought this was one of the most brilliant upgrade ive ever seen. It starts off by basically saying this company is going to blow it. Thats why i like it. The reason why i say it is important, this stock has become very psychological. Hes basically saying hes been at the top before. We know in another bull market he was in there at the top. Yes, he has the advantage of experience. Hes saying im not going to doom to repeat history here. When everyone was getting really enthusiastic i didnt. Now when everybody hates it im onboard. You know what . I think this particularly ironic upgrade is going to work. Really. Yeah, i do. I think this man has learned. It feels like sentiment is changing on the stock, for sure. We have the galaxy coming out. Thats got to be the point of worst liket comes out. Unless galaxy sells 42,337,000 new galaxy s44 ss, people are going to be disappointed. It is time for people to start being disappointed about samsung before we see the numbers. The expectations are 10 Million Units sold in the first month on sale. With the s3 they had some supply issues. They lost 2 million in sales. They say theyve remedied that this time around. But there are hiccups that could be seen with samsung. Is the s4 anything revolutionary . No. That was the discussion yesterday with the analyst on at 11 00. Theres no form function thats going to be revolutionary at all in hard way. Until they figure out how to make a benable screen or something. Bells and whistles are getting harder to come by. Dont you think we should create a whisper number of 10 million . We can create our own disappointment right here right now by fomenting a number thats impossible for them to reach then literally say thats disappointing. Boom. Weve created a bottom right on the show. What do you think of that analysis . I think that could work, though i dont think samsungs stock prices moved quite as much as apples might have been. To the up side it has. It has. As a composition of their overa all profitability smartphones have become an enormous part of that. What would happen if apple cape out tomorrow and said i just talk to intel, they got a new ceo, were switching away from samsung chips because weve had it for them. At the same time we heard the whisper number is 12 million on squawk on the street. They did 11 million. You know you got a bottom. It can be that facetious. We shall just do it here. Why do we have to wait for wall street to create a consensus . How wrong have they been . Its a consensus of four we could create right now. I havent come to my number yet. I went to europe also and was shocked by how many galaxy notes they had there. He does say that in his note. Channel checks. Lets wrap up with amazon. Moving lower in the premarket. Jpmorgan cuts to neutral from overweight. Target goes from 333 to 300. They point out 45 gain last year, 10 year to date. Is sentiment changing here the other way . I read this. I said i keep thinking about bob oldstein saying amazon in the end will just implode. I come back and say amazon is household enough among younger people it is not going to implode. The stock itself has defied this is the one when you people at home say whats expensive, this is the one thats defied the parameters that we know in terms of trying to gauge the worth and value. Its one of those stocks where you could have made the valuation argument against the stock for the past 100 points at least. Exactly. Therefore it is suspect when you try to call a top in this. At the same time its had a big move. I dont think its wrong to think if youve been right about it now to pull back a little. When we come back, a lot more. Cramers gatsby index, the sequel. Find out which companies hes added to his own index of companies that sort of pivot around the behavior of the wealthy in this country. Also ahead, a bear takes a swipe at the record run in the markets. Why he thinks stocks are, in his words, way overextended. Futures though look moderately positive here as we kick off a thursday morning. A lot more squawk on the street from the nyse when we return. Rn. Unveiled his gatsby index to give you a snapshot of the highend consumer. Hes added some companies to the list and he outlined them last night on mad money. Take a listen. So far our original gatsby index of michael kors, panera. Lewis lululemon has lagged. We need something broader, more representative. Im adding the tol, the bc, the sax, and estee lauder to the list. Call it the great gatsby index from now on. In addition to kors, ralph, lulu, nordstrom. With tiffany and coach you got some names in there people are concerned about. Took a lot of heat immediately on this by even saying coach belongs. Kors a different price point. That was immediately that was like a heat seeking missile. People hate it. I say your image of coach now. Maybe its lost a little luster. Lauder is incredibly overpriced and gets it. Thats a sign of a luxury purveyor. Toll, 575,000 house. Brunswick is boats. Last time i looked, how many do you immediate . Sax is a high price point and they made a darn good suit. The great ones are all european. Burberry making a comeback. Prada is doing well. America is not the at the locust of high fashion. But if people go to whole foods over kroger, if they buy lululemon versus athletic gap. Gaps doing some good things but this is a good judgment of people who spend too much and a lot of times my nephew, said we got to call it the great gatsby. He pointed out correctly, this is just truly everything you do not need in life. Do you need any of these things in life . Guess it depends on who you ask. You need a place to live. Why cant you go to a polte home . You dont have to live in the terrain. I lived in a ford fairmont. You save a lot on a homeowners insurance. Other than that, id rather be in a toll. David novak lived in his car. As did you. With norman. Norman was the most he was completely asexual. He wasnt exactly what you paid for. Okay . No norman juniors. You turn on the barry white or nothing . Nothing worked . Norman had the least drive of anyone i had ever seen. This is like the luxury index. He was the lowest cost rental. Its true, david, you get what you pay for. I mean this guy could not have been less interested in fine touch or ambush, the two i thought maybe he would have a good time with. Fine touch. And ambush. Here comes the mad dash. Find out if things are worth your money. Another look at futures as we attempt to extend our winning streak. Right now the dow is up 27. More squawk on the street straight ahead. With fidelitys new options platform, weve completely integrated every step of the process, making it easier to try filters and strategies. To get a list of equity options. Evaluate them with our p l calculator. And execute faster with our more intuitive trade ticket. 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I like a contrary call but its got to be backed up by the fact. Right now we dont have any momentum to sales that makes me feel comfortable saying that this is a good upgrade. Tomorrow is a big day. Joe fresh day bus. Huge priority for ron johnson. Some analysts say at this stage of the game him leaving is not a clear positive. I went on the joe fresh site. This stuff looks good. One of the problems is that apparel is so good these days. If you look at j. Crews site it looks good. What im saying is that it is more whom mhomogenized. Joe fresh is not enough of a standout to turn this company around. A lot of people are saying mastercard gave a nasty present aation, saying ebays fees have to be raised a little bit. A lot of talk about how paypal will not feature as promising as a new galaxy samsung. Jpmorgan says buy, theres also concerns about the core business of ebay away from paypal and whether it is strong. I dont want to touch it. I think the moneys been made in ebay. 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After going up nine straight sessions the dow shooting for ten today. Again the first streak like that since november of 96. Still working on when the last 11day streak was. But people are starting to talk about the quarter, guys. When the First Quarter for the dow is up 8 plus the past 12i7b stances since 1950, the dow ended the year higher 100 of the time. Isnt that some stat . Hard to argue with that as being anything other than a black and white stat. They cant find an instance. In most cases doubledigit gains for the year. Some of the numerology people still hate it, people still want to fight it. But those are the facts. Blackhawks, miami heat, Dow Jones Industrial average these are very hard to go against right now. They are. Teams that have won 20 its almost seems like when you read the dow it is a sports story. Its just got that momentum that defies this kind