robin, doesn't show up all the time, but when she did -- that's carl. he's in mount rush more. >> who was cat woman? >> ertha kitt. m,.that's a great pull by me ae carl. >> guys, good to see my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer and welcome to "mad money" and i'm just trying to make you little money and my job not just to entertain but to put the crazy market into context. call me or tweet me. when you get these kind of rallies, and you get them very

rarely, it reminds you that you have to stay in this market to make big money and you can't flit in flit out. when i say stay in. you have to be invested as you possibly can be is what i mean so you don't miss monster moves like the rush of 2000 of 2.35% today. you always talk about the dow which had its own explosion and s&p 500 up 0.64% and also new record. nasdaq up just 0.2% thanks to the megacap tax but today's market is now being led by real oddball stocks specifically nontechs a totally different kind of rally than what we're used to. very few people even seem to know about the leaders. and don't i know it? the biggest winners in the russell today since this amazing rally began last week are companies that i don't know or i barely heard of and you know i know thousands of stocks. what happened to the magnificent seven tax? is it a breather or are they finished? are we too overbought to get in

now? is it too late? let's impact this move and make some sense of it. first, this is an all eccentric amazing really -- began to -- when did this really start? it started when we got the cool consumer price index reading we got last thursday. no inflation in the month of june. that's what triggered it. that's the first pop of the small cap rally. lowering of inflation could trigger rally but when you look at the ones that are running almost all are biotechs and by the way almost all are losing money. if you look at the top 35 performers all which are up more than 35% since -- in a week, less than a week, including 11 that are up more than 50%, you will see that roughly half are biotechs and health care companies almost all losing money and conclusion this is a market led by the most risky stocks. the russell 2000 stocks. specifically mown losing companies that might be worth something years from now but not at this time. these are the kind of stocks

that only thrive when inflation is nil or we're facing deflation. after the cpi showed inflation on the ropes, it makes a ton of sense that these stocks would lead us higher. they're probably not done. second, while the russell 2000 may be leading us there are a ton of stocks that represent what i call small and medium sized businesses. what do the smaller companies have in common? i see many enterprises that benefit from lower interest rates. but left behind and i want to generalize for a moment and i think these stocks are rallying because there's a sense that trump is going to win the election. and then that will mean a roll back in regulations -- theory here is that the big cap alphas but small medium sized businesses they can't. they don't have the money or connections to fight back. what i want to embrace this season is look, it requires the trump win. which is not assured followed by successful roll back of federal rules again not a given but i believe the smaller

companies have been hamstrung by regulation that actually benefits the big dogs. because they can handle all the red tape. small and medium sized businesses do need to be unfettered. this market is saying that will happen. now third we know from the legendary larry fink that investors increasingly want to take more risk because they're more optimistic about stocks. this does surprise me given the gloom in america but the investor base isn't gloomy or they wouldn't be biasing many risky stocks or many rusty efts. at least relative the last couple of decades but now the return you can get from cash isn't as attractive as what you can get from stocks or certainly won't be. considering the huge number of stocks that have rallied 348 russell 2000. up 20% in the last five days. a staggering 1,262 stocks up 10% in that same period. who can blame people seeking a better return than they can for

5% annual payout that you can get from a certificate of deposit? fourth, many of the stocks that are flying below the recently down home builders apprentice that retail sectors, they're starting to rally because mortgage rates are coming down or perhaps maybe because the retail sales report we got this morning that was pretty darn good. even the home related and health care stocks in the dow jones industrial average roared today. and it's as if when we get the cpi reading the fed now has a green light to cut rates maybe again and again. which means you have no choice but to own those kind of stocks. they're all playing catchup. fifth many of the biggeswinners companies that you might have expected a takeover bid but the biden administration was the antitakeover presidency in possibly all of history. having studied antitrust closely since law school that was an easy statement for me to make. and you will absolutely get more deals if trump wins the

election. the big backs have -- upcoming deal making on the earning calls with there rhetoric about how it's heating up on the very positive conference calls and that can drive a stock market higher. sixth there's a recognition if trump wins again, taxes, especially taxes for the wealthy, the people mainly buy stocks are going to come down. people who want to get in ahead of that. finally seventh is aboutmagnificence and more accurately less than that. we're seeing a wholesale rally with big tech. these moments tend to be very self-fulfilling. they know big money can be made potentially overnight and some of the money as i said can come from the sidelines but some is coming out of the big tech winners. i don't know if you can have the russell 2000 rally without the ammo provided by the investors selling the big cap tax. don't worry, the big cap tax aren't finished but they might be paused until the small caps finish playing catchup. which could take some time. biggest take away from this incredible rally that there were so many charlatans who said you have to wait for a broadening out before you can

buy stocks. i said over and over again that the market doesn't give you that kind of chance. the window for games like this one we had its since last thursday is incredibly small and doesn't stay open for long and now the stock market is extremely overbought and much more than i like. and it's a dicier time to get in. much dicier than a week ago. i'm going to make that point tomorrow in our club meeting. if you have been waiting for the market to broaden out, you most likely missed this mid- summer bounty. in the end it doesn't matter if you think the rally is being caused by the possibility of a trump presidency or the decline in inflation or the good the fed will start cutting rates. what matters most is unless if you are invested all the time. ly miss these enormous moves. bottom line, this shocking rally is why i hoard the relentless emphasis on -- believe me, the traders who left the market, they are licking their wounds right now.

they missed what could be the easiest money that's been made in years. the only way to profit from rallies like this one is to own the darn stocks ahead of time. if they spend so long out of favor. you can't get in and get out on a dime. only liars can lay claim to staying out of small medium capsized stock years and then jumping back in for business days ago. we have a -- >> caller: hi jim, thank you for taking my call. >> thank you for calling william. what's shaking. >> caller: with the recent pressure on enterprise stocks as well as recent breaches for snow flakes, i would like your thoughts if you think the negativity is already priced and in if it's a good time to buy the stocks. >> ill thought until i read more about the hack i thought maybe the negativity was priced in but i have to tell you the hack was a really bad one and i say maybe you have to stay clear of snow flake for a bit. i found it very curious frankly. let's go to bo in florida. bo? >> caller: madman, what's going

on? >> not much. what's shaking with you. >> caller: i'm curious, retail sales looked pretty good today and i'm curiosity you think it's time to start buying into lululemon. >> oh, wow. okay. lululemon were -- wow, this thing is so down. we are plus 8 on s&p. i can't countenance buying lulu on that but i will tell you it seems like it's found finally a base of 282 and by the way i'll give you two for rh seeing the bottom eight today too. but i don't want to plow in because of overbight and too excited in market this. let's go to tom michigan home state of new jersey. tommy? >> caller: hi jimmy. tommy from lafayette. new jersey. >> lafayette? love it. >> caller: thank you for all you do for us. >> you're welcome. what's going on? >> caller: my mentor. listen, meta has been having some crazy times. they're getting -- analysts are screaming 600 and 620. and the stocks -- it's

dropping. >> well, lookinged this such a run. okay. o listen tommy. here's my thinking. that is going to mark some time. there's a july 29th meeting where mark zuckerberg is going to sit down with jensen wong in the same room can you believe it? but i think the stock market had such a run and up 38% for the year. what about -- little r&r on met that's what's needed the biggest take away from this rally is that you have to stay invested all the time. if you try to trade in and out all the time you probably miss most amazing move tonight. with earnings in full swing i'm testing my thesis on the two big banks this i think could keep running higher. then diversification is a staple of cay mecca. still the secret success to the long-term and late receiver celsius losing its energy with consumers? i had six of them this morning and congresswomen at all. i'm talking the data company on some new research the company just published. so stay with cramer.

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all year i have been telling you the sweet spot in banking is now investment banking and two of the most are goldman sachs and morgan stanley. without major operations these two are less hostage to the shifting winds of interest rates and more dependent on the gradual ramp of the capital markets. which is what we've been

seeing. morgan stanley reported today before the open how's the thesis holding up and what have we learned from the banks? let's go chronologically starting with goldman. they turned in what i said is a good solid report a top and bottom line beat that was strong enough to send the stock up over $12 from nearly 2.6% on monday. another 2.19% today. hitting new all-time highs in the process. wow. although some of that likely comes from the new consensus that we're headed for a second trump presidency. with a lot less onus regulation expected for all the banks including invest. banks and still gold man's numbers were excellent. 14% revenue growth and two major segments beat expectations and global banking and asset wealth market up 27%. i did work there and that's great numbers. within global banking and markets goldman's fixed currency was up 17% and equity trading up 17%. the only miss within global

banking and markets was in investment banking business. within investment banking up an astonishing 35% and both above expectations but the financial advisor business came in weaker. only up 7%. that i didn't understand. this was a good quarter but it could have been even better. goldman was involved in two major deals that got delayed and moving from the second quarter to the third quarter. they were advising west rock and both the deals closed earlier this month just after the quarter was over. even the one small issue with the financial advisory business miss was only a problem because the mma division saw a couple of deals slip. how about expense control? pretty good. they may still some strides here versus last year and with such a large revenue beat goldman delivered 31% earnings beat. that's 180% earnings growth

year over year. so great overall numbers from goadman but even better the four looking metrics from comments from management inspired confidence especially for the company's bread and butter investment banking. yesterday morning the ceo said that goldman investment banking backlog had increased significantly, his word not mine in the quarter and described the capital markets in recovery as in the early innings. i used to call this company goldman slacks and sure does feel like it doesn't deserve that nickname again. sells for less than 4 times earnings this year's earnings. roughly 12 times next year's numbers. that's not expensive by any stretch of the imagination. >> house of pleasure. >> it's a bye. what about trust holding morgan stanley? the report this morning also a clean top and bottom line beat with 12% revenue growth not bad. the two businesses investment management and wealth management for individual clients grew by 8% and 2% respectively.

that wealth management falling a little short of expectations. thanks to lower than expected interest to income but it wasn't good enough. plain english morgan's wealth clients kept less cash in the bank because they had higher rates elsewhere. they have become in my mind like wells fargo. the two big beneficiaries with fed rate cuts. morgan stanley had $7.2 trillion in total client assets and well on the way to the goal of $10 trillion and by the way black rock has $10 trillion. but no one is worried about the light wealth management numbers today. social securities which houses the trading business that performed much better than expected and social security segment had 23% revenue growth and its three divisions coming up ahead of expectations too. that's some banking staggering 51% and i have no idea how they got that number. equity trading up 15% and fixed income trading up 16% really terrific. now also did a great job of controlling costs which

translates to better than expected revenues. the return on tangible common equity really worry but does matter and keep up nearly metric came in at 17.5% and wall street was only looking for 15.8%. club members know and remember we have a meeting tomorrow at noon i have been frustrated by the slow start to the year. as new ceo ted pitt found the sea legs and investorred figured out what to do with the stock. they are less dependent on interest rates it still has some exposure but the stock is nice the past few months and climbed from mid 80s in april april to more than two year high of 109 earlier today. though the stock pulled back from this levels to close at $106.22. that's up 0.91% for the day. remember made the stop but also traders lost $102 before the -- got pretty darn bullish about the future. and basically after the noise in choppy trading earlier this

year morgan stanley was finally trading the way i thought it would. i'm not too concerned about the miss from wealth management because it was interest rate related. i believe rates are headed lower. really the only hair on this one. i think early days for morgan stanley but the firm's cfo saying that i'm going to quote her investment banking pipelines are healthy and diverse and dialogues are active and markets are open. sounds good to me. despite the stocks run from mid 80s to the triple digits over the past through months morgan still trades around 15.5 times this year's earning estimates and 14 times next year's numbers and 3.4% yield and that of course only look for attractive as rates come down. no reason to back away from morgan stanley and capital trust i'll say that at the meeting tomorrow. here's the bottom line. the banking business looks good. the banks goldman sachs and morgan stanley have been great place for investors to be in 2024.

as capital market activity gradually comes back, and based on what we've seen over the past two days, i bet both stocks have maybe a lot more room to run. money recap after the break. . coming up -- are the big funds in big trouble? cramer goes off the charts for a read of the averages, next.

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most difficult thing about this market is that until the last few days, investors keep getting punished for getting diversified. we saw that today as the dow jones industrial average came roaring back. right now the s&p 500 and the nasdaq 100 are both at all-time highs. but many diversified portfolios are doing worse. take the vanguard dated 2030 fund designed for those looking to retire around 2030. automated portfolio. yet its value per share is down roughly 15% from the peak in 2021. some of that is because nearly 40% bonds and if you owned bond when the fed started tightening in 2022 you got obliterated. at least until the last few days. so what happens when tried and true diversification causes so many people to get left behind year over year? well those who chase outside

risks are prewarded handsomely? frankly nothing good. we're going off the charts with the help of the dispassionate person. she's a terrific technician the co-founder of the carley trading and someone with an excellent track record including calls she's made on the show. garner says we're playing a dangerous game this market. nobody knows when or where the music stop but it will stop abruptly and not everyone gets a chair. i immediate to be clear, very clear. okay? especially those who blog or tweet about this show. i am not in agreement. not in agreement with garner i feel more constructive about the market but i'm "mad money." i like to present other views especially from people i respect and can be very eye- opening. garner thinks history is repeating itself here. i don't think we're going through another bubble. there are real differences but the concentration of winners from one area does feel very similar. back then, you could clean up by just going all in on handful of risky tech stocks and just sticking with them. the best performing mutual funds abandoned the very idea

of of diversification. then dot.com bubble collapsed and anyone got obliterated and pretty much never came back. you can absolutely get rich by taking risks but going all in on a single sector and staying rich with that approach different story. i agree with her on diversification but she's wrong about the state of the market i think. with that in mind what does she see in the e mini s&p 500 futures? for those of you keeping score while so many were pounding the table garner told us it could break out above 5150. including right here onesimo show. at that time, that seemed like an extremely bullish call and i remember it but garner thinks she was way too conservative. not only blown through that level the she it is chart opened up to the possibility of the s&p reaching 6150. that's up nearly five points from the record. but if you want to chase after

the 500 points right here garner believes you are going to be taking on double, maybe triple the risk versus last 500 points. yet she's now picking up warning signs that make her feel substantially less bullish. a persistent divergence between the s&p 500. when it peaked in early 2018, so you can go back to where we were, right here, when it peaked, rsi stood at nearly 88. perhaps the highest reading ever produced for the s and f futures, back then the 500 topped out near 2880 and if we ever see that level again, oh boy. i'm sure you need to take away the ties and shoe laces because half of wall street will be on suicide watch. that was only six and a half years ago though. we've almost doubled from the 2018 high until today. here's what garner finds

worrisome. since 2018, s&p made a series of highs but the rsi has never gotten as overbought as it was in 2018. it keeps making lower highs. the rsi made lower high at the peak of 2021 and making another lower high right now. the problem with that is that the divergences are often a sign of imminent reversals especially win a rally that's already overextended. and garner's view heavy government stimulus has enabled the stock market to trade beyond it customer trajectory. look at the blue lines in the chart. they represent what she thinks would have been the historically average trading world for the market where the fed didn't massively increase the money supply. say around 4,750 and 3500. thinks all the way down here when you see we're all the way down here. she thinks all the way down there. nobody wants to hear this but either through the passage of time to normalize the market something she says will take years not weeks or months or

through a nasty selloff. maybe a little bit of both. garner thinks the market either needs to trade sideways for several years or it needs to lose about 1,000-pints before back to normal. my view. she could be right but how much more inclined to believe there's no normal to go back to. even if the presidents come at very different angles and biden is mr. stimulus and z as for trump do you think he'd doing in if he saw the averages swooning? all right, next up, let's check out the monthly chart of the e- mini nasdaq 100 futures. from nasdaq 100 we know tech they've right? once again she believes it's coming in too hot. it's been a decade gaining 7,000 points. okay. so decade getting to here. all right? and then wash manage to put on together 10,000 point rally in just 20 points on the heels again of massive covid stimulus this time and yes, the feds

still easing money policies and then after tech pulled back hard in 2022 and 2023 as the fed raised interest rates what happened? we got another powerball style rally. this time fueled by tales of artificial intelligence. that's the last bit. so this is the code stimulus and then this is the ai trade. this time the nasdaq 100 gained 10,500 points in 21 months. wow. whether we're talking scale or duration, garner knows this is almost exactly the same as the rally that ended when the fed declared war on inflation in 2021. we remember how bad that was. it's unlikely to be sustainable like the s&p chart she sees the diver general. this red flag can be waved for months before consequences arrive but they always come. in her view the tech index is overbought. it's hard to describe this as not being overbought. isn't it? i mean, look at that.

that's pretty much pair bollic and i'm nervous about that. the industry is all-time highs so there's never been a better time to hedge your bets and take a little off. in the end, it's not that she thinks a selloff is imminent but it's a much more risk/reward it has before months ago. here's the bottom line. the charts are interpreted by carley garner suggests this might be the moment to pull in your horns. now we've had huge gains and contrary to pretty small number of stocks and garner doesn't like what the charts say about the sustainability of the views. it's certainly a good reason to stick with the diversification rather than piling all money into the seven as they come down. i think they're worth owning some not all. absolutely not. with your entire portfolio. let's take some calls. let's start with john in indiana. john? >> caller: thank you for taking my call, jim, can you hear me?

>> john? john? indiana. john. >> caller: yes. yes, jim, can you hear me? >> yes. this is john? >> caller: yes, this is. thank you for taking my call. >> of course. how can i help you? >> caller: so i have a question. and 2021, i bought some paypal when it was climbing and near 200. and then shortly thereafter there was that what they called i believe a correction where it dropped a large amount and i have been holding on to it since then. and you know, hoping that it would come back up. but you know, it hasn't. so my question for you is would you just sell it and should i cut my losses. >> look, this is a great question. john. i would tell you that if you are listening to bank of america's brian today, i found myself thinking why do i need paypal? because bank of america does the same thing with its different methods of artificial intelligence. and certainly with its systems to move money around. so i am going to say i would

sell paypal. because even though i like this fellow alex chris the ceo, i would sell paypal and even buy bank of america if you wanted -- if you were similarly inclined to buy another stock. suggests it's time to take chips off the table. we ad a huge run up to this point and garner isn't too positive about the rally's sustainability. we have more "mad money" including my exclusive with 100 x. including important intel on domino's. plus we're getting some mixed signals on the macro aren't we? what am i looking at for a proper read of the situation and all your call rapid fire tonight edition of the lightning round. stay with cramer.

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right now virtually every consumer or business is trying to retain customers but from a better value. because if you keep your prices high in this environment, you are being punished. but who's actually pulling it off? find out we're checking in again with hundred x the alternative data firm that recently came under our radar. i like them. they have the latest customer insights including fresh data from last month and of course the guys aren't stock pickers. bother very good lister and they focused on purchase intent. and by the way, they provide funding for nonprofits. when their supporters provide the data maybe that's why i like them so much too. let's welcome rob pace the founder and ceo of hundredx. mr. pace, welcome back to "mad money." >> thank you. >> once again, you have tremendous insights and you are involved with -- some intent purchasing for pizza.

which is a category that we have loved. so tell us what you come up with. rob. >> so if you step back, your central thesis of consumers being very focused on value, is what we're seeing our data. and our future purchase intent for pizza is at two year highs. and that's led by domino's right now. >> now domino's is the cheapest and it's also the one that brings it to you. but what are your people saying about the taste? >> well, that's always been their achilles heel but they have closed the gap. they introduced a number of new products and we're seeing that in our data. from a value standpoint consumers are saying the rise of quick fast casual. pizza has stayed flat. and domino's has addressed the taste issue so that's why it's one of our top -- top companies in terms of future purchase intent. >> okay. for -- let's stick with that theme. because you have done work on wireless. now i can tell you that

anecdotally i like verizon wireless it's terrific but it's expensive. but empireically getting different data from you. >> yeah, if you think about the three big carriers. right? we see t-mobile actually breaking to the upside versus at&t. and verizon. and you are exactly right. verizon scores better in terms of network quality. and coverage. but t-mobile is good enough and on plan options and on value on pricing, they're 20 points higher so the consumer is saying it's good enough for the product. and i can save money. >> i like to look at your stuff your stuff is just so good for me. i get very excited about it and i have been trying to figure out hey listen, verizon wireless really threw it but this t-mobile stock. that's not your job. that's my job. has been on fire. and now i realize that a frugal consumer might say you noah? i don't need perfect wireless. i need wireless that works and i want to save money. that's why i think the stock is going up. let's go to something that was

pretty shocking. i go on amazon and i see celsius and the cheaper prices and costco i see the cheaper prices and i read maybe the sales and read this data which indicates sales may not be good but i was blown away when i saw your purchase intent. >> yeah. unfortunately, our purchase intent for celsius declined 15% which is a very large move in the data in the last year -- last three months 10%. and what -- what's going on in that index versus say other sodas and energy drinks et cetera. they have a huge advantage around healthness and ingredients like 50, 60 points higher, that's coming down another 20, 30 points. >> let me understand this. the rap on celsius was are people starting to believe that maybe the good for you rap may not be better than any of the other drinks. >> that's what we're seeing in our data and the comments about caffeine and the ingredients. et cetera. so historically that was their edge is it give you energy and

was healthy and a pretty significant erosion of that that's playing through. >> that explains why the stock may not be done going down. but they see the data like you do. pepsico -- right at at the purchase intent movement. i think pinterest is a place you can reach lot of people in a noncombative setting wheretiers can say i want problem hobbyists and i want people who are just kind of -- making their decisions about certain products early on and going right through. it sounds like that you are seeing similar -- maybe even better work on pinterest. >> yeah, pinterest again is one of those names that's breaking to the upside. and you are exactly right. people go to pinterest to discover things. but they also have a very good navigation and very good app. >> better and better. >> yes. you know, reddit might be the

exact opposite of that. they get good content but it's hard to find. what's fascinating to me on pinterest is it's the first example that we can really focus on where their ai related products collage we're actually seeing that impact and ultimately for ai in our opinion, to be hugely successful you are going to have to see the applications and this is one of the early winners of the applications. that we see. >> okay. so right just because i'm so enthralled with your model. you are making money for charities right now. how would you have gotten that pinterest data and how would you give -- how would you make that international? >> yeah, so right now, we're running 100 programs around the country. and it's very diverse. and what the nonprofits do is they say hey, there's this crazy company hundredx raised a lot of min and they're going to give us money to fund our new medical research or or our kids' band room or whatever it is. if you all sign up and just tell the truth about the brands

you use. who matters to you and importantly, are you going to use them in the future? so we're -- every hour we're giving away thousands of dollars to charity. and we feel like the products better because of it. >> how can you -- beat data where people know that they're giving away money to their causes? that's a terrific model and you are very smart my friend. that's rob pace. he's the founder and ceo of hundredx. i hope your turned on by this as i am. it's how we can make some money by listening to the purchase intent. "mad money" is coming right back. cramer takes on all in the lightning round. next.

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it is time. it's time for the lightning round and first -- my staffers and -- play sound. and then the lightning round is over. are you ready? steve, the lightning round -- start with let's start with kimberly in new jersey. kim berlin? >> caller: hey jim, boo yah. first time caller and i'm actually calling in regarding my daughter's portfolio. we opted to not to do a 529 plan, looking a add security stock. and i have been back -- researching all of the above like palo alto and crowd strike and then -- i want to get your

take on fort -- >> well, think fort net is not my favorite. palo alto is. we know from the travel trust and going over tomorrow. and i think it ha -- the club meeting and i really like its prospects. mary in new york. mary? >> caller: hi jim. i'm in women's invest. club called stocks and bonding. and whenever -- their products and chemicals. we chose this because it provides crucial gases and chemicals when industrial use but even with these very important products, stock does not appreciate and hope for and should we hold out and can you comment on the sale of their liquefied natural gas division to honeywell. >> honeywell did terrific on that. you want to be in lending. lending is a much better run company and that's why the products aren't doing as well and lindy is doing spectacularly. ian in california. >> caller: hey jim.

ian here from california long time watcher and first time caller. >> perfect. >> caller: the rep -- got to do something for the boys. >> now look, sir, i think sirepta is a speculative situation where they have great science and never going to get beans biotech company with great science and therefore i bless owning the stock. it's too risky for me. but it's okay if you want to be there. how about jeff in massachusetts? jeff? >> caller: jimmy what's up brother? mass -- terrible. sandusky in a hole for a while with this. sell it. what do you think. >> no, don't sell match. just got a very, very smart investor in there. you got star board. there's been other activists there too and i think the star board letter which i read this morning, is superb and that has to make the changes that star board recommends. marty in connecticut. marty? >> caller: booyah and greatings from new haven, connecticut. the pizza capital of the world. >> i didn't know that. what's doing on? >> caller: we want to know about bj's wholesale.

multiple positions. >> very good. my problem is why would i want the very good when i can get best which of course is costco. i was listening to charlie monger being interviewed about costco and it made me feel so good about the situation. rob in ohio. rob? >> caller: boo, cramer from the heart of it all in ohio. >> i knew that was the heart of it. just had that feeling. yeah. >> caller: jimmy, i bought my first -- $27 a share in 2022. after ipo bonds. i think double down with your boy josh brown in july of 2023. another $26 a share. thinking the brown boost was the saving grace i had been holding out for. help me man. you are my only hope. t. o. s. t -- >> i remember when downtown made that call. and the stock went down and just stuck with it. which was already very right. now the problem with that is that you are investing in retail. by doing that. and i do not want to be as

exposed to retail right now. and so that's the only reason i don't want the own the stock. it's toast. now rick in pennsylvania please. rick? >> caller: yeah, i was wondering what you think about -- pharmaceutical stock called keva. >> well, look, it is okay. i like the -- very low multiple which is exciting but what i really like is the best. i like best of best. i like best of breed. that means i like eli lilly. i need to go to paul in virginia. paul? >> caller: hey jim. how you doing? >> good. how about you? >> caller: i'm good. so i'm -- originally a new yorker so how you doing? >> well, yeah, that's how we talk. we talk like that in philadelphia too but can't pronounce the word talk. >> caller: good. listen. my wife and i just got back from a cruise. and i was so impressed with the ship and the crew and the -- experience that i hoped a small position in the company. you know, they don't compete with the monster megaships. they're smaller ships.

they -- they target 55 and older clients. kind of affluent you know, that aren't looking for floating game shows and casinos. they do river ocean and expeditions. and it seems to me they're killing it you know. the ships are going out full and their fleet isexpanding and i'm talking about viking. >> agree with you. put royal caribbean and viking at the top of the heap. they are both excellent. and that ladies and gentlemen is the conclusion of the lightning round! the lightning round is sponsored by -- charles schwab.

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something is very out of whack here. you are just going through the most difficult strenuous cycle in the history of the fern and what do we have? how about bank after bank today noting that credit defaults are either low or totally under control? how about commercial real

estate actually beginning to attract investments in some cities and how about the stock market hitting record high after record high after record high? so what's with the incredible sense of gloom that seems to surround everyone i meet? how can the negativity and pessimism be so thick you can cut it with a knife? collision of two worlds, one lacking in hope and the other so hopeful it truly feels the like the old good days. when i serve in this situation i come back with two very different theories. the supermarket inflation really put people in a bad way. when you go shopping you are stunned by the prices and simply can't believe they haven't come back down one bit since covid. the reality of the moment not the default rates of the commercial real estate or the stock market hitting new highs which feel divorced from day-to- day lives of americans. it is true. the grocery stores are so out of whack that you have to ask yourself is there a law which says the packaged goods companies aren't allowed to cut prices? it sure feels that way.

kirkwood's signature brand or wal-mart's great value brand and the new better goods brand which i really like. you would think we're still in the middle of the pandemic where supply chains were completely crushed. we're beginning to see some revolt by the consumer but nothing like we expect and instead people just seem to be resigned to price gouging. we feel like we're back in the jimmy carter era where the president talked about where the country was filled with discouraged people and at that point the gas pump that talk dubbed the -- speech you know, never used that term. resonates more now than it did when carter spoke about it in july of '79 never mind that inflation cooled down to the point where the fed can start cutting rates in september. it somewhat feels worse. the second theory? how about politics. soon after carter gave that speech, his republican opponent offered a different message one of hope and unity reagan beat him in a landslide after initially very rocky period after the fed raised rates. we have a sustained advance in

hiring and the starter of the greatest bull market in history and now we have an election filled with hate hatred and rancor. everything is positive is nothing more than a distraction. i know that trump said he will allow jerome powell to serve out the term at the fed which runs through 2028. he said that this evening. he's considering jpmorgan ceojamie diamond as treasury secretary. but the hatred and fighting and craziness needs to die down. you know where there's optimism though? right here in the roof. wall street. leading to ever high or prices for so many stocks. the market which reflects the reality of the economy is benefiting plenty of people but not enough to change the mood of the nation. look i'm not a political guy and i can praise capitalism as the engine for wealth creation. the ceo of bank of america said

this morning when i interviewed him so few people care and so few people are investing in american business which knows nothing about a malaise and everything about opportunity for all. including those who think they can't afford it. so they don't even bother to try. i like to say this always bull market somewhere and i promise you how to find it just for you on "mad money" and i'm jim cramer and see you tomorrow and last call starts now. -- find e on mad money. "last call" starts now. right now on "last call", uncovered, a terrifying plot by iran to assassinate donald trump. what would america's response be? two of the most powerful names in technology are throwing loads of cash at the former president. check this out, something just happened to stocks we have not seen since october 1987. all that and more. last call is up right now.