citigroup had to say. letter c, again. >> bonawyn? >> you're going to see concentration in the top four names. amazon. >> steve? >> last week, all the cruises got hit, they sold off. better entry level, viking holdings. >> all right, thanks for watching "fast money." adon" with hey, i'm kramer. welcome to mad money. people want to make friends. i'm just trying to make a little bit of money. my job is to teach you. one 807 43 june cramer.

it makes you feel like a complete dope. doesn't it? like the stock market. it is a brutal show game. really, it means you might be making a few basic mistakes. tonight, i'm looking at the whole show for my playbook. making advantages of short-term rallies. looking at the so-called bear market rally. this is a bogus term that people throw on whatever stocks go up at a time when the intelligence thinks they should be going down. i would not give you my game plan for handling short-term gains. i know a lot of you are thinking. what kind of an incompetent of his needs a rally? what is next? the diagram? do they need potty training? should i start looking at books for children? we already got all of that out read we have rainbows off of that more than a decade. that is the same level of difficulty as making money. the stock market is on fire. who needs help? it's even better.

multi-day rally. a real run. do you think my advice is to help you deal with these profits? i'm not buying that investing in more money more problems. knowing how to approach a quick one in the right way, can make you a better investor. tonight, i'm looking at this all the time. everybody makes money. this is running itself. i'm not here to talk about how to make the most money possible in the markets. it is not that crucial. the most important mess in dealing with a short-term move, is that you have to work hard to create yourself some futures. otherwise, you will have great opportunities to sell. just as we can give into despair when the markets come through, you don't want to given to you for your.

it's not when you should buy. this is when you should be taking these tips off of the table. you don't have a profit until you sell something. you aren't making money until the register is done. you are giving this through the best of times and the worst of times. this would be incredibly foolish with only very few exceptions. maybe use it to lighten up. we have fundamentals. that's why i always insisted that you do your homework. how else do you know what kind of load it is? if you don't want to do it yourself, you can. join the investing club. why is it so hard to settle it? let me put it this way. nobody wants to miss a rally. if you sold every stock you own, you would feel like a stooge. let's look at it another way. so you are in stocks for the wet rally, but you don't do

anything. maybe not so gradually, your stocks come down. if you let them ride until you evaporate, how is that any different from missing the entire rally? it is wonderful. you can't do a rally that is just a few days when the portfolio went up. this is going to take action. even if you don't fancy yourself a traitor and trying to put yourself in the market, you have to look at sharp rallies. that is what i'm talking about. keeping yourself in the game, you need to keep yourself tired -- tethered to reality. this is just because you re in stocks for the long haul as an investor and a traitor.

think about this. think about the post-covid meltdown of 2022. not many people wanted to sell in 2021. they had tips that made you a fortune. they had more inflation. those gains disappeared. as i told you, you are in much better shape. just getting alliterative. nothing wrong with feeling good about the rally. it has been reaching for the cheap scotch. looking on the dirty linoleum floor. they could tell you, that i recognize you without celebrating stocks when times were good. euphoria is fine, as long as it doesn't lead to complacency. don't forget that you are getting the opportunity to lighten up with some of the stocks. that is what short-term values are for. it is easy to be swept away by the positivity. last thing people want to do is

sell. this is when everything seems wonderful. how could you want to sell the stock? we are supposed to buy low and sell high. they could be a lot harder than it sounds. we are teaching you the discipline of selling when you join the club. we do it all with climate trust. you are watching the games roll in. you feel like selling some stock would be the most insane thing in the world. what happens if they get going? it doesn't matter. we also never sell all at once. that way timing is also an issue. if the rally holds up, you can sell more later. there's no real way to prepare for a rally other than by owning stocks. you can use the rally to protect yourself for potential downgrades in the future. counterintuitive, but it works. this is when stocks are going hard. they have been going lower. consider what you can do for your portfolio today.

that is not my style. you can sell in these larger increments. the rest of the show is going through the whole mad money rally. they explain how to sell it. right now, here is the bottom line. when the stock market has a big, short-term action, don't get carried away. check your emotions. focus on the long-term. think about reading the register. especially when the stocks that might be getting too high, -- more on that later. michael, in philadelphia -- pennsylvania. >> i am looking to sell my house. this is for about 500,000. i'm buying a new place for about 350. the time i'm all done, i'm going to have $100,000 to

invest for my retirement. >> that is terrific. >> i am looking -- what do i do? short-term, high-growth? what do i do for long-term dividends? >> okay. i am in a different campus from everybody else. i want to bet on my long-term life. i think i'm going to live long. the global longevity system is very good. i think that you should be buying dividend stocks. i'm trying to urge you not to move into cash. dividend stocks are a great way to protect yourself. they are at 5%. you will do very well. you can build this. steve in kansas. please, steve? >> boo yah, jim. how are you doing? number three this year.

>> i love andy reid. coach is the best. he is unbelievable. what a great family. how can i help you? >> i'm heading into retirement at the end of this year. i have been investing all my life. i am 100% equity. no bonds. i moved about 40% of my portfolio into value. 6040 split. growth value. growth on my life for the most part. what is your opinion about staying with that type of split, 6040? >> i would not do anything. i was so afraid. thinking about switching to 20% bonds. short-term rates are high. you are betting your life

against. that is what i am encouraging people to do. they had a great, short-term run. please don't get carried away. keep your head from the long- term. think about bringing the register. especially when they might be getting too high. i'm giving you everything you need to know about the market rallies. i'm going to show you how you can take too much risk. this is when you should use rallies to raise cash. the things you should never do in a green state. stay with cramer.

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people always want help in the market. they want me to tell them what to do. it validate their fears. when stocks get hammered, investors freak out. they panic, or they want to panic. i think that is right. i obviously don't want you to panic. that is what people are doing. many people don't know what is going wrong. they have been hit with trauma and big losses. even the smartest operators want some advice. after four decades in this industry, i can't remember a single time where someone has come up and asked when the market is rallying like crazy, what do we do? that is unfortunate. just as you need a playbook, like i just mentioned, you are going to look at a guy that

tells you what to do in a big or short-term run. nobody wants to help with a rally. you may reject that idea. people need help when the market is lousy. there are all kinds of mistakes that you can make when the stocks are going higher. in fact, the rally playbook might be different than the selling playbook. here's my first rule for handling a rally. always be really, really tough on your portfolio. especially on the big up days. the only time you should be harder on the stocks you own, or when you are looking at no end in sight, and you need to circle the wagons. dump everything you aren't thrilled to own and look at the shortening positions of the stocks are you have the most conditions. that is obviously a worst-case scenario. you are thinking that you need every one of your stocks. give them the harshest possible evaluation. assume everything you own is built into the innocent. we have the worst qualities of stocks. analyze the downside.

each company portfolio that you are looking at, go over it all over again. allow me to explain. on a good day or a good week, you are ready to fall in love with your positions. they have made you so much money. that is difficult. you can love your spouse, kids, and pets. you can love your country or your car. just as long as you don't become enamored with your stocks. silly pieces of paper that you bled for the sole purpose of making money. they are not going to love you back. when we are in the midst of a big rally, you should not give your stocks too much credit for making money. even then, you need to give your stocks a hard time. when they make you a fortune, the normal reaction is to collect that stock. think about this. most of the time, you should like it less. for the simple reason that the stocks get more expensive when they go higher. during the major market wide

rally, your stocks become more pricey. they become less desirable. you notice this when you look at them. no matter how much you like microsoft more than i do, it is a lot more attractive. correct? in other words, in the wake of a big move, your entire portfolio just got less extract -- attractive. price matters. when the stock price goes up, the risk reward becomes worse. evaluation. it makes it more mellow. you make money. this is what you are going after. you can let that prejudice you in the favor of doing anything with stocks. they have no memory. why are they being born? that doesn't have much bearing on where it goes. the second reason he goes up during the rally, is that they can figure out which ones to sell. it is totally concentrating on

the nation. everyone else is buying like crazy. you feel crazy about stocks. you certainly don't want to sell. there is no better time to sell them during a major, short-term move. this applies to everything, even mutual funds. it is okay to ring the register on some of them. i like that. get more of this true on some level. we don't buy low and sell high. that is hard to execute in the moment. the facts have been reported out for years. even as nobody likes being told to be selling a winning stock into a smoking, hot rally. how do you find your instincts? how do you sell in spite of your emotions? simple. get tough on your portfolio. demand a lot more from them than you normally would. especially since they are more expensive than they were the day before. they went up. i have a specific way of grading my stocks. every week, i rank the stocks on my channel of trust. i rank hem from one to four.

ones, are stocks that you would buy at the current price. two, stocks that you buy if they go back. you have stocks that you sell at a high price. you don't want to take any action on them without any more information, period. this rally has a way of simplifying things. prices are just up, so the stocks are worth buying at the current price. they suddenly become two. only worth buying on the pullback. most of them are going to be expensive. very capable for keeping the pattern dry. they are doing more buying. a lot of the stocks that you wanted to sell, these are the ones that you are trying to take. this is just a preliminary approach for what you should sell from the short-term valley. the reason that we are ranking with stocks like this, we are keeping our emotions in check. we are buying low and selling high. this is just because it feels good at that moment.

most of the reasons we don't have time to go into it, because we really enjoyed buying stocks. the register is not in defeat when you are getting top dollar prices hurried you have to put yourself in that mode. you have to do that by getting tough on your portfolio. bottom line, don't get swept away by euphoria. don't miss this. it is not worth it. they took a little profit from some merchandise. the whole point of owning stocks is that you are supposed to sell when they go higher. making money. if the fundamentals are changed, then it might have gotten too expensive. when the market is roaring, they are holding them to a higher standard. this is on some of the stuff. the names you like the least, and of course, even the ones that are up the most. mad money, his back after the break hurried

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to the most complex therapies at the best prices. while providing enhanced support like in—home nursing at no additional cost. that's wonder made possible. evernorth health services. tonight, what got me the mad money rally playbook, trying to take maximum advantage of a big uptick. over and over again, i have been telling you that short- term rallies are opportunities to sell. do not buy. it may sound really obvious, that it can be hard to put into practice. they are countering what our emotions say that they should be doing when the stocks are roaring. most people don't like to hear about selling stocks, except when they are panicked, and they think their whole world is falling apart. then they want permission to sell. they want to sell everything.

that is almost always a mistake. generally, most investors want to know about buying. you know what, you should have a plan for selling every single one of your stocks, even the best ones. you should make that plan ever before you purchase them as part of the process. being a good investor knows want to get out. this is rather than waiting till the heat of the moment. we want things to stay and we never have to sell. stocks of good companies cannot get too expensive. it happens all the time. some of these will get too expensive. it is easy to sell something that you know is bad. plus, something you generally like for legitimate reasons. 2021, the cash crowd, the whole group got too expensive. the low-quality had no worries. the higher-quality established great numbers. that includes many cramer favorites . they got too hot. you had to sell them into the

strength. they are looking at more inflation. they spent 11 months of getting mauled. all the popular ones hold up a lot better. they still got eviscerated. you could have sidestepped much of that pain, if you simply ring the register, and went on the way up. let me make this clear. selling into a rally is not turning a profit here and there. you are looking to buy low and sell high. a big uptick gives you a great chance to sell. the best reason to take some profits or cut your losses during a rally, all boils down to what i talked about at the beginning of the show. preparation. let me explain. i think you should be prepared for the bad days down the road. i'm a glass half empty kind of guy. of course when we are looking at a glass half-full kind of guy. the bad days are just as inevitable as those doing it. what is the best time to get

ready for these inevitable down days? how about during or right after a big ? that is the moment that you take something off of the table. a short-term rally, gives you the best opportunity to protect yourself from the potential downside. you get the most mileage out of preparing for the worst days of investment. don't get me wrong. it doesn't mean that you should sell everything at any time. that would be self defeated. they are looking at the up move that is temporary. they just want to scare you. i am not one of those. they can take you higher and higher. they have some jackie wilson stuff. you can believe in a rally and still use the big up date. there is no cognitive

dissonance here. we are just trying to balance the concept of capital reservations. they need to grow your money. they are not always mutually exclusive. when the market comes back down, you will have passion from getting he word. get some stocks, and they can suddenly get this on sale. this is really the extension rally. this is really a prologue. this is everything we will need in case things get bad. one of those things is cash. i'm a citizen of the united states. this is cash. some of these is the most important part of the portfolio. most of them do not know this. i have people all the time that tell me they are fully invested. every time this is the firm investing in stocks, someone is going to tell me that. they always think it is a good thing. they just think this is what makes everything else possible.

i would never have less than 5% of the portfolio cash. i would go up 10 if i could, especially after a nice run. cash is for its ability. they are opening up to start a position in the stock that you like. you are looking at more than you already own. you need to have some cash from the sidelines. otherwise, you have to sell something that you already own, and that is something that i never recommend doing. it is too risky. this is the best get off market. this is investing in the same person. what has to do with responding to rallies? this is a little cash. trying to pull one of the advances for the best time to raise cash. many of you absolutely must do if you are fully invested. this is right after a giant move up. this is why we always have some cash on the sidelines. this is how i think of it.

this is through the gas tank. we don't have 5% cash. you are running on empty. you better fill them up anytime. whenever you sell or raise cash, you will get a much better deal after the rally. i'm not saying that they are a great time going into all cash. not at all. i think that i'm losing some cash, during or after the rally. that is the goal. i don't care how much you like the stocks. not something to raise cash when the market is making it easy for you. this is downright breathless. the challenge for us, i would take some time up and go around 20%. i am trying to sense too much euphoria. this is the swing that goes back to work and stocks. this is a lot more than the ones that created the system. the number of quality accompanies you own, isn't part of the equation. it is the price of the stocks that matter. some will get very extended in every rally. trim them.

you can buy them back later. it will be lower. this is with the cash that you raised from selling. that is the entire point. you will have that big pile of cash that you got from the rally. you will be able to buy in the short field. this isn't about getting a great deal, people. it is about protecting yourself. bottom line, the next time you get a big up to day or two, use the strength to raise some cash. you might not know it, but without cash, your portfolio has zero flexibility. the best time to raise cash is when the market is on fire. let's go to dylan in virginia. >> hello, mr. cramer. thank you for your time today. they are prepared to enter this extremely competitive field. thank you for your advice. >> work hard. work harder than everybody else. everyone else is coming in at

seventh and sixth. coming at five. i don't care what. be the last person and look around. this is what the bosses want to see. do some work while you are there. work harder than everybody else. that is the secret. is this some work from home people? run in south carolina. >> how are you doing, boss? >> i am looking for retirement now. >> i am looking at these equities. 100,000 in each account. they have treasuries. 30 day treasuries. my treasuries rollover every

week. they buy one, then they pay me. i was getting ready to start thinking about getting in a little bit more back into equity. with all of this going on, between the fed, and everybody's individual opinion, i am a little bit on edge. what other advice can you give me? >> you are like many people in this position. you kinda believe that you are earning so much money in cash. why should you risk being in stocks? you are going to wait until you are down 7% before you take off any cash from the market. unless you et that declined, i don't want you to do anything. stay where you are. let's go to linda in illinois. >> puglia. >> what is going on? >> wonderful to talk to you. i'm calling you mr. magic

moneymaker. >> that is high praise. >> thank you for your wisdom. this is my question. i am a retired postal employee that worked for 45 years. i have no financial investment knowledge. i want to know, how do i buy stocks? i wanted to ask you, should i try to invest my good savings plan money in s&p index funds? magnificent seven? >> you are speaking. i want you to start with your first $100,000 in your invest in -- index fund. if you can, put a couple hundred dollars to work each month. i don't want it all in at once. if the market drops extensively, more than 10%, i want you to think about the month that it would have been bought two months from now, and

put it to work with the current money. stick by that discipline. don't go any faster. i am confident that you will get good prices, and not feel like somehow you got hurt. i love invidia. not the right network to converse with. facing a big up day, i want you to strength a little cash. without cash, your portfolio has zero flexibility. the best time to raise cash is when the market is on fire, not when it is going lower. you probably think your portfolio is going to perform you on a big rally day. you would be wrong. i'm going to explain to you why. you have burning market questions with my investing club. stay with cramer.

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congratulations, it worked. i hope you are happy. most time, the rally playbook has been due to the higher stock prices. how you can use the rally to set up the inevitable rough patches that markets run into sooner or later, this is by raising cash. the last part of my rally playbook is a little bit different. this is what we have already covered. i want to highlight what a major move this can teach you about the portfolio. i'm not too worried about anyone trying to perform the average. that is something that you can easily study and fix. this is different into the sections that were up the most. this shouldn't get you truly concerned. you are watching the stocks before. this is part of the marketwide valley. making too much money on a given day can be a problem, or at least a red flag. they should try to warn you about something. there with me.

the warnings are very simple. the portfolio can use the averages. this is part of the day one market. you are taking on too much risk with your portfolio. i don't strike many of you as the most concerned. i get that. the fact that i do this show every day, even though it doubles my odds, this is part of the heart condition, and it doesn't help my case. this makes absolutely no sense. watching how your stocks move in a marketwide valley, is the perfect way to figure out if you are taking an enormous risk. you could make much more than the average. you are using the margin. this will also get you crushed. this is from your losses. that is just not worth it. what else can they dramatically look at for the marketwide rally? this is not diversified enough. this is in a short timeframe.

this has been led by technology. you would be a big winner. they won't last. the outside profits are a huge warning. screening you to sell your positions. maybe trim them back and call up and play. if you are keeping all of them in one basket, you can get wiped out in a heartbeat. ask all of the investors from mcleod softwares. this is before they peaked in november 2021. those people got blown out. they had massive losses. they are going right out of the benchmarks in 2020. they were making too much money. just like investors are going to come through it. they are paying attention to this role. something to remind you of constantly if you happen to be a member of the investor club.

it they could have adjusted all of these and lightened up. this is so that no single sector is looking at 20% void. let me give you the bottom line. best time to figure out if you are making too much money, meaning you are taking gains at risk, is that you are looking at the marketwide rally. this is going to be a diagnostic test. seeing if your portfolio has too little diversification, and too much risk trade or, if it is a okay.

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like i have been saying all night, you may not think that you need help at all, when the market seems to be levitating, but in reality, you probably do. people get emotional. this makes us bad investors. this is why he mad money

playbook is helping you combat your intuitive, emotional reactions. you can make sound, rational decisions. this is from members of the cnbc investing club every day. that is a big selling opportunity. how do you unload some of your best performers along with your buyers? you want to get rid of them anyways. you are saving it for a rainy day. this is going to bring me to my final rally rule. raising cash is essential. spending cash is absolutely imperative. for a big, one day move, you're going to be tended to buy some stocks. i know this. big days make us more bullish. simply the same way dogs like to chase cars. the last experience was impacting all of your socks from huge gains, of course you are going to feel like dying. that is the case where your

feelings are going to lead you away. do not buy stocks after the average spike. don't chase. i want you to take advantage of the rallies. when you buy stocks the day after, the day after he got marked a big, you're going to let them take advantage of you. i know you are doing this too. you have been following them at cramer every day. this is what has me the most excited. they want to open their walls and chase stocks. don't do it. i feel like any clown can figure it out. i don't waste your time on the show. of course you know the day after a rally. the stocks are adding his run. you know you are getting swept away by your euphoria. this is the mistake that we all make. this is why you need a playbook and rules to get yourself -- keep yourself prevented from getting away. please, if you want to buy a

stock, and the markets just have been on a run, do a favor and tell yourself that you missed it. take a pass. at the very least, keep it n your shoulder. this is the smartest thing that you can do in that situation. saving you a lot of pain down the road. here's the bottom line. this is the meaning. you need to sell some of your winners. you probably shouldn't buy anything when the market feels like it is on fire. we have new stockades. this is the aftermath of that fire. this is all that hard won money. this is the stickler. >> cramer. the die hard. >> next up.

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♪ ♪ ♪that's how we can se[ grunts ]orld!♪ [ laughs ] we are explain to you how you can play your portfolio. you probably also love learning from them. i always say my favorite part of the show is taking questions directly from you. tonight, i'm joined by my portfolio analyst. partner in crime. the cnbc investing club. we are going to answer some burning questions. if you are not a member of the club, you can scan the code or go to cnbc.com/investing club to sign up.

first up, when do you recommend investing in an ipo? this is one that i'm going to let you handle. >> i think if you can get in on the deal, that is always preferred. if you are trying to invest in a new ipo, just make sure that the value isn't completely out of whack with some other companies. one more consideration, lockups are always something to be mindful of. when a company becomes public, often times, the employees of the company and the major shareholders, they are restricted from selling stock. once they become unrestricted, sometimes they will unload their shares right away read that can create pressure. be mindful of lockups. if you are patient, it may lead to a better price. >> you have to understand that i give very enthusiastic. all the time, this is what happens. they are so exciting.

that should never dictate why you buy something. this is because of the cap. any in california, says, should you explain how the investor should use these gap earnings versus non-gap earnings? thank you. the are generally accepting the accountable principal numbers. i don't want to hear fancy ways to make earnings, when there is a traditional way that i learned in accounting, and you learned too. let's not learn around -- a fool around. >> it is helpful sometimes to look at it. they will xclude some one-time items that maybe don't give you a great apples to apples comparison of earnings. sometimes, we know that they like to take a very liberal view of those non-tran05 earnings. sometimes you have to be careful around them. >> going to todd in minnesota.

concerning when to buy. doesn't only buying or adding a stock when it is below basis to ensure we miss all momentum runs and only participate in downturns? i missed out on huge runs in the fall because i hesitated to add to partial positions. what happens, is that e end up that we are going to miss some. it is absolutely true. we care more about the downside who is going to protect against the downside? the upside is going to take care of itself. it is painful for me, sometimes. we are talking about how we are refusing to violate the basis. we fight every day tooth and nail. the fact is, we are trying to disable more money than we earn. >> i like to apply a strict interpretation when you are putting the position on over the first couple of weeks or months. only because you never might know what curveball the market may throw at you. in that case, just being a little bit patient saves you.

in terms of when to violate, if you have been going off of the stock for a while and you have a lot of good news, then it is a better company from when you first started buying it. that could cut towards violating it. >> that is a great way. i know there are situations that have been missed. you just heard about it. we have a question from karen in new york. how do we find the rsi? is it reliable for the indicators for making investment decisions? i'm not going to go into it. we can find it in various different places. i'm looking at the chart myself. >> you can find it on the trading platform. this is going to signal when the stock is going to be overbought or oversold. oversold, doesn't mean they are going to be necessary by the end of the day. this is what matters most. this is a signal.

something is fundamentally wrong. >> looking for the entry point, it is a different tool again. it is whether i am buying expensively or less expensively. this is just another arrow in the quiver. not the most important one. there is always something somewhere. right here on mad money, i important one. on mad money, i am jim cramer, see you next time. right now on "last call", all hail the new king, nvidia the world's most valuable public company. coming soon, netflix revealing what could be its boldest step yet to dominate all of entertainment. why major insurers are dropping coverage for your pet across the country. all that and more over the hour. as always, belly up or buckle up, because "last call" is up right now.