work to be on the sidelines, not with the nasdaq up 27%. these gains are just too big for the professionals to ignore, too big for the investors to ignore, and that's what's the good thing in this market. every time there's even a momentary decline like we had this morning, the big money men, the hedge funds, mutual funds, pension funds, you know what? they're now staring at double-digit gains for the most popular benchmark, the s&p 500. it's up 11%. the big money? it's out of excuses to avoid this market. you see, as long as the s&p was only up single digits, it was possible for these much flaunted money managers to brush off the need to be invested. the smartest ones, the most rigorous ones, they didn't have to touch -- you see, they could ignore the monster run in the nasdaq. some aberration! only a couple tech stocks caught up insanely because of that thing cramer talks about, the

mobile internet tsunami. not anymore. they've got to come in. the pros have got to come in from the sidelines. they've got to cover the shorts. they've got to do some buy, buy, buy. they've got to put money to work even at the most fleeting of declines, like the one we saw at opening, a sell-off that normally would have opened up the flood gates of selling, but now it begets furious buying right into the close. every momentary sell-off this day, buy, buy, buy, every little one, you could see it! every time it looked like it was going to drop! why is this a card? how come nothing seems to be able to take market down for the count? how come nothing lets this market stay on the canvas? it's baffling. baffling until you recognize that it's all about the business, the business of money management, not a stop. and as a former professional hedge fund manager, i'm just the guy to explain how this game works. see, when the market's not rallying big, when it's only up

a teeny-weeny single digit, it's very easy to explain away being on the sidelines, very easy to explain away the game, especially if you're not up very much. in fact, you can tell your investors that the game's basically a rounding error that nobody really cares about, it isn't worth the pain considering the risk that we have. basically, when the market's not up double digits, you have an excuse to sit on your hands to sit on the sidelines, but the moment that big benchmark pops, pops into the teens, well, then it becomes the elephant in the room. think about it. even the most brain-dead investors know it. they can't ignore it. they come down on their money managers top-nail boots and are saying if you can't figure it out, send me back some money. you can't make excuses anymore. you can't keep up with this market. you're no good. that's right, double dijs means there's no choice for these pros. yep, even though they may know better, professional money managers after the increase to

11% and the fact that we didn't go down today, you could tell. see, they have no choice but to chase. you're already hearing a refrain that you're going to keep hearing as long as we're in this situation, it's wrong. it goes like this, oh, retail investors have been calling their brokers to get in now that we've passed the various s&p 500 nasdaq benchmarks 1,000, 2,000 respectively. that's nonsensical. home gamers, retail investors have been tip-toeing back in, but you're not the marginal buyer. you haven't been flooding the market. it's the pros who are doing the flooding. what's happening is that if you're a money manager, you can no longer catch up to a plus 11% market by being predominantly in cash, and you're never going to catch up if you have a lot of shorts betting against stocks. these money managers, the big boys, are now playing with a ball and chain. this literally must buy stocks at every opportunity when they're down. if they don't, these

come-from-behind guys will never close the gap that their investors know exists between their performance and the fla flashing up 11% benchmark. i know this because i used to run a hedge fund myself. this is simply how the business of money management works for most. sure, some managers have the luxury of going into cash right now. when i was at my hedge fund and i had gains that were double the size of the markets when i went into the summer, come august, come on, man, hit the beaches! i'd shut down the firm. hey, one year is up so much, i just disappeared to martha's vineyard for the summer. i had a house right next to belushi's grave, really cool. but the years i was behind, particularly when i had been too negative, you know what i had to do then, when the market was up double digits and i was negative? >> all aboard! >> all aboard. i had to come in. i had to -- >> buy, buy, buy! >> as i knew i would not be able to catch up without buying stocks. i couldn't catch up by just being in cash. and what would i buy? pretty simple, anything that

sold off every few minutes, any stock that pulled back enough on a given day that allowed me to come in at a price that wasn't a total outrage. all day. this morning, the futures, which controlled the price of the opening, knocked down a bunch of red-hot stocks. hey, tech titan apple, machinery producer joy global, credit card monster mastercard, fertilizer dominator potash, casino company wynn. could i recommend that any more times? these have all been recommended over and over on this show because of the superior execution in hard times that are about to get better. those stocks opened in the red. and what'd you do? the buyers used this incredibly small weakness to pounce. that's hedge funds panicking to get in. you can see it with the banks, too. they're up huge from the march lows, we know that, but not looking where they came from. these are big, gloriously liquid stocks, natural places to go for performance. so, the money managers will buy bank of america and wells fargo

and u.s. bancorp endlessly on any dip over and over again. that's why i bought them for my charitable trust. i knew they had to come in. they could take all they wanted and they're doing. it oil and natural gas down last week. what i chance to get in. even though the earnings were widely lambasted. you see, they had no choice. the big-shot money managers simply cannot catch a double-digit move from the sidelines. they can no longer hope that the market will come down because it's up too darn much. and most of them don't have the luxury of being up so much that they can leave the table. they're being forced back to the table where they have to place bets whenever any discount whatsoever occurs. and they know where they won't move the stocks with their aggressive buying. think back to bank of america, think wells fargo. oh, that's selling? they've got to hone every share they have. they can't afford to sell anything, they'll lose their exposure. they have too much buying to do here's the bottom line -- we are in self-fulfilling mode now.

that's why i keep saying you you've got to show respect and pay homage to this unbelievable market. i think we're at a point where the hedge funds must come and buy every dip. up double digits, there's no hiding now. we've entered get long or be wrong territory and the market has become just like this show. the money managers, they can't afford to miss it! carrie in florida, cary! >> caller: boo-yah! >> what's up there, chief? >> hey, it's a home-teamer from the school of a street addict. i've been buying pnh as the price drom. it's on a run-up and i wondered what percentage of the run-up is due to the reality and what percentage is due to the dip in the capture and how do you like it going forward? >> i'm liking the whole thing, dividend capture, trying to get the battle for tnh, but at the $92 level, i switched to the potash, why? because i listened to the potash conference call, which was a thing of beauty. it was magisterial!

it was incredible! it was harry potter-like. it made you buy. john in nebraska, john. >> caller: boo-yah, jim! >> boo-yah, corn husker. what's shaking? >> i saw amerigas last night. they're sitting at a 9% yield. i was wondering, is that dividend safe and is the price of propane going to be going up with the lower dollar? >> i believe it is safe, but we have learned our lesson. o oh, king of prussia, that's up. we killed them whenever -- all right, anyway, from philadelphia. amerigas, i want to invite the ceo on, because it could be, rather than just pronouncing dividend safe, it could be like michael lynn. you remember that one? line? michael line at $15.16. we doubted the dividend. he came in, we said buy, buy, buy. where it is now?

$21.22. sam in georgia. sam! >> caller: boo-yah, jim. >> sam, you came to play today. what's on your mind? >> caller: okay, my question is about stock stop losses. i've been in the market for a long time and have never heard the rule. i have never understood if there's a particular rule to this. i use -- i have been using a 5% sales stop, such as i buy a $10 stock and set the sale stop at $9.50. >> all right, all right. sam, that's not been my style. that is the way of investors business daily, an organization and a newspaper i like very much, but let's understand each other -- i always want to keep the control of the orders in my hands. let's take today, okay? we dropped very severely at the opening. you might have been stomped out and then you missed the up side. never give control to others! let's always, if we're going to trade, be hands on. if we're not going to trade, then we're fine. don't put stop loss orders at. sorry, sam. i liked you, though. where in the world are you where

we can't beat the averages on the sidelines. we're up 11%. the market has been calm, just like this show. yeah. they can't afford to miss it. stay with cramer! coming up, can a pipeline play from the great white north pump some green in your portfolio? cramer crosses the border into canada to find you the next member of his foreign legion. plus, cramer breaks down a bank stock on the rebound. will the charts be strong enough to lift this financial's fundamentals? find out on "off the charts." and later, lightning strikes! cramer goes electric, taking all your calls in a spine-chilling, overcharged lightning round. all coming up on "mad money."

mr. evans? this is janice from onstar. i have received an automatic signal you've been in a front-end crash. do you need help? yeah. i'll contact emergency services and stay with you. you okay? yeah. onstar. standard for one year on 14 chevy models. you all want to run your businesses more efficiently, so we've brought in a team of experts to help. one suggestion is to make your shipping more efficient with

priority mail flat rate boxes from the postal service. call or go online for a free supply and up to $160 in offers from authorized postage vendors. shipping's a hassle! weighing every box... actually, with flat rate boxes you don't need to weigh anything under 70 pounds. if it fits, it ships for a low flat rate. ok, but i ship all over the country. you can ship anywhere in the country for a low flat rate. ship international, too. yes, but i ship hundreds of things, in all sizes. great, because flat rate boxes come in four sizes. call now and we'll send a free supply, plus up to $160 in offers. when you're ready to ship, we'll even pick them up for free, no matter how many you have. priority mail flat rate boxes only from the postal service. a simpler way to ship.

♪ ♪ canada, oh, canada >> oh, hey, hey, there is a palpable sense among a lot of investors that the united states simply isn't safe anymore, that we're on, indeed, the wrong track or off the tracks entirely. with a legislative agenda that could put a stake through the heart of big and small businesses alike. a currency that's only getting weaker, jobs flinging overseas, as companies fire people here to cut costs, while they do more business overseas in places like, yes, indeed, china, to boost profits. some of this stuff i hear about america, about how in trouble it is, i kind of find it hysterical. we've not going to relive the buy more republic experience. i don't think we're japan during the lost decade and i don't

think president obama is antibusiness, per se. but i recognize with our budget deficit, our low to nonexisting growth and a potentially i hadder tax regime on the way, that the united states is no longer in control of its destiny like it once was. and i do think that the speaker of the house, nancy pelosi, is hugely antibusiness, and obama would be wise to distance himself from her. sadly, he has, however, showed no interest in doing so, which is why we started up my own foreign legion of dividend stocks. all week, i'll be going around the world recommending new members, companies from abroad with high dividends that offer insurance against, indeed, yes, what some would consider to be the rot of the united states. and it should go higher as the dollar weakens, because the stocks trade on foreign exchanges and foreign currencies. i'm recommending the adrs tonight, the american depository receipts. those are our foreign stocks trade on u.s. exchange traded. i'm not going to get you to buy some swiss franc or something. and as the greenback declines,

these adrs will go higher because the exchange rate. so, if you believe the dollar is only going to get even weaker thanks to our efforts to debase the currency with mass stimulus, then my foreign legion is just what you're looking for, and you're going to have to get your own passport for the united states of cramerica. i will go anywhere to find you a bull market. yesterday we went down to brazil. better than a sharp flag of the eye. the land of plastic surgery, giselle and carnivale to cpl and cig, two utilities. put them right in the foreign legion. today wasn't well, as exciting. we're heading to canada. the great white north. the land of celine dion, not bad in concert, and jim carrey. personally, i prefer giselle and plastic surgery over dog sleds, canadian bacon and the police, one of few movies to have both robert preston and preston foster, which means nothing to

you, because you're under 60, unlike me. so, we're going to try to make moolah! luneies! what canadian high-yielder has joined the right to join the mad money foreign legion tonight? we have slightly higher standards than the french version and would never fall prey. the stock i like is trans-canada! trp for all you home-gamers. it's the largest natural gas pipeline company in all of north america with 38,000 miles of stuff like this, okay? in addition to being the largest private power company in canada and the northeast united states -- 7,700 megawatts of capacity -- why pipes? why power? remember last week when i talked to richard kinder, the genius behind pipeline operator kinder morgan energy partners, the stock i've recommended so endlessly that when i walk down the street, people say k&p, not

jimmy. we didn't get into business because i wanted his views on climate change, but i think they're terrific for the same reason they're a buy. pipelines are good investments. they're toll roads, toll roads for canada and america's energy needs, and a company like this makes money on the flow of energy, be it natural gas or crude. and it isn't hostage by the price of the commodity. that means predictable cash flows that allow pipeline operators to pay out, you got it, huge dividends. transcanada is expected to pay out $1.47 a share in dividends. at the current price, it means it has a juicy 5% yield, although you cannot find that even on the online version of "word up" magazine. given that transcanada should generate $12.05 a cash flow share, that dividend looks pretty well covered. let's blow in the billions in cash on the balance sheet and i would say it's marathonman-like, with of course, clove applied to

the drilled tooth. transcanada also has got some growth to it. the company has a big project coming online next year, the keystone pipeline, a crude oil pipeline that will carry about 1.1 million barrels a day. i've been waiting for this thing to open for forever, from alberta to the texas gulf coast. man that was a mammoth works progress game. already about 82% of its capacity has been contracted out for an average of 18 years. that should give you some idea of how consistent this business is and the kinds of earnings visibility it has. that, of course, means how much management can be able to tell you it's going to make in the future. the further out, the better. now, the earnings before the bad stuff, you know, that interest in the taxes and the depreciation and the amortization, expected to increase ten-fold from 2010 to 2013, so i think the dividend is going higher. could it be higher and higher a la jackie wilson? anything's possible. on top of the pipeline, they

have a power generation business, 30% of the earnings before interest, taxes, depreciation and amortization. it's pretty well hedged, 70% of the output sold for next year. this company is smart. i like the company for the management, for the pipeline biz, but there's no doubt that the power generation side ads adds stability. here's the bottom line, if you think the united states is headed off the rails, i want you to take a trip to the great white north and join cramer's foreign legion with transcanada, our favorite high-yielding canadian pipeline play with enormous upside and a super-de-duperdy dividend. join cramer's foreign legion. and just like edith sang for the real foreign legion, you'll be able to say i regret nothing. that's right. special bi-lingual bottom line for one of my favorite canadian

companies. after the break, i'll try to make you even more money. coming up, cramer breaks down a bank stock on the rebound. will it be strong enough to lift this financial's fundamentals? find out on "off the charts." plus, jim goes high-voltage in an electrifying fast-fire lightning round. and later, why's jim all fired up about the s.e.c.'s latest action against bank of america? stay tuned for cramer's "outrageous of t"outrage of the day" all coming up on "mad money." now you can stay connected to cramer wherever you go. download full episodes on itunes, grab a widget to your desktop, get text alerts to your phone, and now with twitter updates, you can get "mad money" any time, anywhere. at 155 miles per hour, andy roddick

has the fastest serve in the history of professional tennis. so i've come to this court to challenge his speed. ...on the internet. i'll be using the 3g at&t laptopconnect card. he won't so i can book travel plans faster, check my account balances faster. all on the go. i'm bill kurtis and i'm faster than andy roddick. (announcer) "switch to the nations fastest 3g network" "and get the at&t laptopconnect card for free". we've heard a lot lately about the problems and prev yales of ken lewis, ceo of bank of america. the whole negative pan plea, overreaching for merrill lynch after overpaying for countrywide, getting fined for statements related to that merrill lynch buy, getting pushed around by the feds when he tried to back out from his

ridiculously high bid for merrill. heck, it's true, ken lewis waited a few weeks in both cases, he might have been able to buy countrywide and merrill for nothing. and you know what? we don't care. we don't care, because we've got one of those opportunities that i live for when i ran money at my hedge fund. the moment when both charts and the fundamentals -- both charts and fundamentals are screaming -- ♪ hallelujah >> and the spread quadrupling this year, i think bank of america could rally another 50%. >> all aboard! >> and maybe even double, thanks to a coalition of the ruling buyers who can't stay away from the stock. that's why i've made bank of america one of my largest positions in my charitable trust portfolio. so, first, what are the charts saying about the future? what are the technicians who

interpret these picket graphs saying about where bank of america's going? tonight, we go off the charts with dan fitzpatrick, our go-to technician and my colleague at thestreet.com, where i'm chairman, and you've probably seen him many times on "fast money." fitzpatrick thinks bank of america could be heading to $25 based on these technicals. why does he think that bank of america has so much room to run? the thesis is based on the idea of something called volatility expansion. basically, what that means is that after a period of low volatility, okay, where buyers and sellers are essentially resting, as soon as there's an increase in the volatility, the bulls and bears get off the sideline, essentially low volatility ultimately leads to explosive action after a significant amount of turnover. so, let's take a look from may through july bank of america was churning within a defined trading level, see? i mean, it's kind of going like

this. that's called churn, okay? that's churning. for most of june and july, the stock pretty much fluctuated, very small, $12, $13. every time it would go above $13, they would flood the market with supply. fitz thinks the sellers at $13 were people who picked it up at $10. there was a gigantic equity offering, stress test related, and he figures people who bought it at $10 are trying to lighten up at $13. that's locking in a nice profit at 30%. at the same time, there was a ton of demand for bank of america stock at about $12, and that narrowed trading range set up what fitzpatrick considers to be a classic low volatility trigger. you can see where he's going with this, okay? once all the supply at $13 got seeked soaked up by the bulls at the end of last week, the stock started breaking out at end of this line. that's the breakout. now it's already at $15.65.

the reason he thinks it can go higher is because the current move is going from the average trading price over several months, right? well, been doing that for several months. the investors aren't saying to themselves, man, i ran too much, i missed the move. they're saying look at that bank of america's breakout! they're just focused right here on this. i want some of that. the last time bank of america broke out to the upside, a run that lasted from march 6th to may 7th, made $11.61. that's over a $3 base. it'd broken out again. so, fitz says it can have a similar size run, which is why he slapped a $25 minimum price target on this baby. okay, now, why do we like it on the fundamentals? and i'm a fundamentalist. first, you've heard of banks that are too big to snail bank of america was one of them back in march. now bank of america is too big not to buy if you're a portfolio manager. if you think a recovery is coming, then this stock is the play. you have to think of it as like a gigantic cyclical stock because of how much money you

could make if growth returns to the u.s. economy, and it is. bank of america's the dominant retail banking player in this country. 12.2% of all u.s. deposits -- that's amazing. the bank's 82% of the u.s. population. i think the upside potential here is massive. it's building up reserves. it's not reckless, even though what you hear all day is that it is. reserve ratio at 3.61% at the end of the quarter, average bank is 3.1%. it's repossessed housing portfolio that's other real estate owned, also known, of course, as -- oh, god, someone licked the middle part off. god. that's all, man, that's disappointing. all the foreclosed properties that this bank now owns could soon flip from being a negative to being a colossal positive, thanks to the bottom in housing that's causing foreclosed properties to sell like hot cakes. i need you to stop, listen, by the way, to the nay sayers on

foreclosures. they were on all day today. they're on around the clock, on every station, in every paper. when you get pending home sales as strong as this morning, and in they were real strong -- hear me out! when i said hear me out, you want to buy shares in a company that owns homes! and like it or not, bac's got to be one of the biggest homeowners in the country with way more than any homebuilder might have in its inventory. and you have to remember that bank of america's stock is coming back from levels where it seemed like the entire financial sector would be nationalized. remember those professors who wanted to nationalize everything? it was traded like it had no future, but once the systemic risk was taken off the table, the stock bounced back. don't look at bank of america like a stock that's run from third to -- don't look at that. it never should have been this low to begin with. now with signs of real recovery, especially in the stabilization with real estate, up side, it's huge. i do love the binary aspect of this.

give that this stock's flying with lewis at the helm, can you imagine where it could go? this is a heads you win, tails the seller loses. and the franchise is far from brecked, or else it wouldn't have attracted sally, who ran wealth management yesterday. look, i know the street hates the list because he's a gambler, a cowboy, a maverick! but he may get the last laugh because i can't imagine the feds would ever have allowed a bank to become this big and this powerful if it didn't need help to stabilize the financial sector. did lewis overpay? no kidding. but if the economy comes back, bank of america will over the mortgage market in the country. the bottom line is the financials and technical, the fundamentals and fitz's work. they say bank of america is still a great buy. forget ken lewis. they could fire him or not fire him. i think the thesis behind bank of america is much bigger than the problems you hear about all day of its ceo.

the thesis is a turn in the economy, and i think perhaps the single best vehicle to play that turn right now is the bank of america. ricky in new york! ricky? >> caller: hey, jim! >> hey, rick. >> caller: hey, i want to give you a big boogie down bronx boo-yah! >> i'll take that. i'll take a bomber boo-yah, how about that? >> caller: all right, all right. right now i own visa. it's more of a long-term play for me, and i'm kind of worried that because since last year, it's taken a while to break past that $70 mark, it may be a while before it gets to that point. my question is, should i stick with the long-term play or go ahead and sell it and -- >> ricky, listen to me and listen good. you should be more worried about the yankees' prospects versus boston than you should be about visa. here's why, all right? visa was a stock that reported a great quarter last week. so did mastercard. the bears pushed it down, why? because they made a stand. and on stock trading with the

wonderful fabulous erin burnett, i mentioned i spoke with mastercard and visa, which i own in my travel trust. they're held down. visa little profit-taking now, recharging, going above $70. debit cards are king. that's what people use. even my daughter uses a debit card, like when she goes to dsw and stuff. all right, let's go to danton. that's discount shoes warehouse. let's go to dan in new jersey. dan! >> jimbo. >> hey, shaking, partner! >> caller: i'm baffled a bloomingdale boo-yah to you! >> whoa. let me give you a mountain lakes boo-yah. good lacrosse school. >> what exit is that? >> that exit is right near 23. is that near butler? they have just a magnificent program there. all right, go ahead. >> caller: i'm really confused there. you've got to help me out here. hudson city. for the longest time, they're saying this thing's going to be 17 cents, 17 -- >> 17's the narrow. >> yeah. now they dropped it down to $15.

target price. i know they're loaning to fica-scored people with the super fica, and i don't understand what's going on. >> i'll tell you, dan, this is one of those things -- this is like a front seat-back seat thing. we like the most reckless banks in the world now. we like fifth third, huntington banc, zion's bank, we like, well, bank of america. we want the ones that can really have what's known as the leverage, that could really flip. hudson citibank, run by ron hermance, a conservative bank, is not what we like. it's the equivalent of proctor and gamble or coca-cola, it's consistent. we want inconsistent and explosive upward, not consistent and sleeping, which is how people feel about hudson city. i'd say stay the course. let's go to art in ohio. art? >> caller: jim, boo-yah from chillicothe, ohio. >> man, you know, that's how you pronounce it! i never knew how to pronounce it. well, i'm learning something tonight, too. what's on your mind? >> caller: jim, my stock is

sallie mae, symbol slm. could government regulation or private lending institutions be killing this sector? >> well, sallie mae went from recommending around $6, went up to $10. i should have immediately told people to take profits. now it's meandering. the quarter was not that great. i think this is my speculative stock of the year. i think it can wind itself slowly but surely step by step and slowly sallie mae goes to $10, but there i think we'll have to say -- >> sell, sell, sell. >> -- because we've made too much money and there's nothing bad about taking a profit. the charts and the fundamentalists agree! ken lewis, it doesn't matter who runs bank of america. we have a 50% move ahead say the fundies, and the charts are calling for a double. i say stay with cramer. coming up, the madness goes nationwide. >> buffalo boo-yah! >> boo-yah from south texas. >> as jim takes your calls from

across cramerica. >> boo-yah to you from st. louis. >> big 110-degree boo-yah from phoenix, arizona. >> boo-yah from seattle. >> in an awful new quick fire "lightning round." and later, why is jim all fired up about the s.e.c.'s latest action against bank of america? stay tuned for cramer's "outrage of the day." all coming up on "mad money." tdd#: 1-800-345-2550

tdd#: 1-800-345-2550 i want everything right where i can find it. tdd#: 1-800-345-2550 anything that makes trading easier. tdd#: 1-800-345-2550 i want to be right in the middle of the action-- tdd#: 1-800-345-2550 you know-- i have to see what's going on. tdd#: 1-800-345-2550 and when i pull the trigger... tdd#: 1-800-345-2550 ...i've got to get the best price out there. tdd#: 1-800-345-2550 (announcer) try the new schwab.com tdd#: 1-800-345-2550 for yourself. tdd#: 1-800-345-2550 call 1-888-4schwab tdd#: 1-800-345-2550 or visit schwab.com/trader today. tdd#: 1-800-345-2550 'course a trade doesn't always work out my way. tdd#: 1-800-345-2550 but when it does... tdd#: 1-800-345-2550 ...man... do i love that feeling. most people try to get rid of algae, and we're trying to grow it. the algae are very beautiful. they come in blue or red, golden, green. algae could be converted into biofuels... that we could someday run our cars on. in using algae to form biofuels, we're not competing with the food supply. and they absorb co2, so they help solve the greenhouse problem, as well. we're making a big commitment to finding out... just how much algae can help to meet... the fuel demands of the world.

holy cow, it is time! it is time for the "lightning round." you say the name of the stock, i tell you -- just to be clear, i don't know the stock questions or the callers ahead of time.

on the fly, we play until you hear this sound, and then the lightning round is over. are you ready, skee-daddy? it is time for the "lightning round" on cramer's "mad money." let's start with bowden in new jersey. >> caller: hi, jim. huge boo-yah. oh, i'm screwing up. >> it's okay. >> caller: research in motion, what do you think? >> from thestreet.com, where i am chairman, i said that i felt after that blown quarter that this stock would not recover, and that this stock is now panusing me. it's unbelievable. i said to take province in r.i.m. and palm and reinvest in apple. and they're all going up, but research in motion is going without me and i feel ripped, i feel naked without my r.i.m. i'm waiting until it comes in and then i'm going to pull the trig yes, but right now, consider me unqualified to talk about r.i.m. because i did not predict this. the tsunami that is the mobile

internet is taking everything with it, including the ones that didn't report good quarters. steve in florida. steve! >> caller: hey, yim. >> steverino, what's up? >> caller: boo-yah, jim! >> wow, you came to play. >> caller: i bought conocophillips back in march. the financial system, $34 range, sum of $38. to me, it looks like it's formed a bottom and it's forming a double bottom right now. it looks like if it goes through $50, it's going. what do you think? >> i will not disagree with that characterization of c.o.p. now, i did not like that quarter. i love the fact that you have a 36 basis. you get a 4% yield. the quarter was a disappointment because they're one of the larger refiners. the refining was a disappointment. they're a huge natural gas play. having bought burlington resources not long ago. and the natural gas price has been very disappointing. the bottom line is conoco was great. jim mobile, welcome to the show.

call him out, i don't know. but i feel strongly that this is an okay oil play, but they're all going higher. rising tide lifting every single boat. >> house of pleasure. >> you're fine with c.o.p. pete in georgia. pete! >> caller: hey, jim, boo-yah! >> boo-yah. >> caller: i just came back from china and i found out what boo-yah means why you get a bunch of vend o ooror oors runn you, you yaeell boo-yah. >> i think it's a curse word in china. >> caller: it means we don't want anyway. >> what's up? >> caller: i found out when i was in china that kimberly-clark had a partner over there. i don't know if they can't keep up with the demand. i'm wondering if kimberly-clark is still a buy or if -- >> it is a buy. it yields 4%. it's an accidental high yielder, reminds me of clorox, which has come down, but understand, these are companies that do not have the great leverage to an economic recovery, so you may have to sit at this 4% level.

put a half petition order and half on the rest. i think it's a good brand name, but it ain't going anywhere. john in pennsylvania. >> caller: boo-yah, from london, pennsylvania. >> good to have you. >> caller: jim, when you talked about sandisk about three weeks ago, i bought it and i've got about a 5% profit in it. is it worthwhile keeping it is this. >> i want you to hold it. here's what happens. the quarter is very interesting. this company used to be a hyper rooney mcfadden country, came from west virginia. now, here's the deal. when they came out, they decided to go away from their usual hype philosophy. of course, they'll say they never had that philosophy. i say first do no harm. and they put a damper on expectations, which causes the stock to go interest $19 back to $16, which was a classic opportunity. sandisk at $18 i think goes higher. i hear all about flash memory, and all i can tell you is that the internet mobile tsunami will wipe out any glut of flash memory. i think that sandisk is every

bit as good as western digital. the hard drive. james in ohio! james? >> caller: hey, how are you doing, jim? >> not bad, jim james, how about you? >> not bad, jim. i'd like to say a big, bad boo-yah from springville, ohio, home of the panthers! >> holy cow. i didn't even know about that. that's fantastic. i was so convinced they were north carolina. now i've got it straightened out now in my own mind. >> caller: yes, sir. hey, jim, i'd like to know, what do you think about ncr stock? >> i'm not a fan, nor am i a fan about them moving from ohio and you've got to know they're a huge employer. here's the deal, retail's turning, so it could be a rising tide again, so i'm not going to say buy -- >> don't buy, don't buy. >> i'm not going to say sell, but if retail's hurting, i'd rather own costco. let's go to jeff in indiana. >> caller: hey, jim, from terre haute, indiana, a ba-ba boo-yah!

>> oh, indiana. we were in indiana, went to iu. it was one of the best times ever. what's on your mind? >> the eln corporation. >> it's one of my least favorite drug companies, maybe the least entirely. i would rather see you in mylan, which i really can't stand. i would prefer you, if you're going to own a pharma, i think you should own, frankly, bristol-myers, which doesn't get any respect, yields 6% and people keep treating jim cornelius as if he were rodney danger field. he doesn't get any respect. i think he's going to blow away the numbers. i think the dividend is safe. they don't like the cash. i like the acquisition. stick with cramer!

what's on the minds of independent investors? let's ask. when i trade, i want a straightforward price. they lure you in with a $5.99 trade, then charge you 15 bucks. you get a low price, but only if you make a ton of trades. at td ameritrade, every online stock trade is just $9.99. period. no matter how often you trade. no matter how much money you have in the account. i hate those hidden fees buried in the fine print. surprise! it's a maintenance fee! i hate surprises. at td ameritrade, you never pay a maintenance fee. you get low, straightforward pricing, so you always know exactly what you're paying. hey, that works for me. are you ready to declare your independence? independence is the spirit that drives america's most successful investors. announcer: trade commission-free for 30 days plus get $100 cash when you open an account.

five co-workers are working from the road using a mifi, a mobile hotspot that provides up to five shared wifi connections. two are downloading the final final revised final presentation. - one just got an e-mail. - what?! - huh? - it's being revised again. the co-pilot is on mapquest. - ( rock music playing ) - and tom is streaming meeting psych-up music from meltedmetal.com. that's happening now with the new mifi from sprint, the mobile hotspot that fits in your pocket. sprint. the now network. deaf, hard of hearing and people with speech disabilities access www.sprintrelay.com.

will the school bus signal good times for the economy after a summer of savings? retailers are getting together to get consumers back in spending mode. who will pass and who will fail? get it right. reports all day on cnbc. >> i gotten an outrage of the

day and yoeureka moment all rold into one. tell me how this makes sense. back in november, bank of america's management according to sec misled its shareholders about acquisition of merrill lynch telling them merrill agreed tot to pay end of the year performance bonuses while omitting the crucial fact bank of america already agreed merrill could pay up to $5.4 billion in bonuses. in response, the sec sues bank of america and the company pays out $33 million to the government to settle the sec's claims without admitting or denying anything. wait a minute. who got hurt here? bank of america's shareholders. >> who's paying for settlement with the sec? bank of america's shareholders. the heck? shareholders agreed buy merrill on management say so that things were fine and they got hurt.

now, in order to rectify that the sec decided those same shareholders should lose more money this time to the government. i think it's backwards. ken lewis, ceo of bank of america hurt his shareholders. buck stops with him? why is the cash coming out of the shareholders' pocket? shouldn't it come out of ken lewis' pocket new york times city the shareholders you already took advantage of? what's the point doing it this way. why should ken lewis care about the size of the penalty or breaking the rules when he's not the one that pays for it. why should any ceo care about misleading shareholders when sec will make the shareholders pay anyway, rather than executives. to me, it's stupid. government doesn't deserve this money but getting it. ken lewis will be slapped with a fine and shareholders allegedly misled. instead we get this fine from sec does nothing to make things

right or incentivize good behaibhaver. the only way its the shareholders sue and it's a not even worth it. that's more like lottery. if the shareholders hadn't benefitted from infraction, the fine should be levied against management and the corporation. the shareholders got dinged again by the regulators and those who actually broke the rules get away scott-free. it's all backwards and all wrong. until the exec gets gets punished and not shareholders, i see no reason it won't happen again and again and again. you see the picture. miss out on "mad money"? now, you can get cramer sent to your phone. send a text 26221, mm and hit send. get "mad money" in the palm of your hand. >> we've been on a crusade on

this show. >> you were one of the first people to talk about the uptic rule. >> the sec tossed these stocks into a virtual free fire zone. >> i have to concede in the types of environment we've seen more recent li it may have had some -- if it had been in effect, it might have had some benefit. rest my case. welcome to the now network. right now

five co-workers are working from the road using a mifi, a mobile hotspot that provides up to five shared wifi connections. two are downloading the final final revised final presentation. - one just got an e-mail. - what?! - huh? - it's being revised again. the co-pilot is on mapquest. - ( rock music playing ) - and tom is streaming meeting psych-up music from meltedmetal.com. that's happening now with the new mifi from sprint, the mobile hotspot that fits in your pocket. sprint. the now network.

to close, our favorite non-wall street analyst, restaurateur meyer who wrote

"setting the table." remember, he told this is a have the hospitality quotient. i like to say there's always a bull market somewhere and troms try to find it just for you right here on "mad money." i'm jim cramer. what a market. see you tomorrow! >> up next on kudlow, the dow breaks 9300. i come out for more cash for clunkers, go figure out inconsistent senator coburn tells me i'm wrong and pending home sales are hot. "the kudlow report" next. x

tonight on the "kudlow report." the dow broke through the 9300 level, yet another milestone in the new bull market. banks and commercial real estate led the way. we'll cover it all. a second point, i am coming out in favor of extending the cash for clunkers car rebate bill. not because i like government spending but if you're going have fiscal stimulus, this will work, it's raising consumer spirits and raising a new bull market. the third bulletin, my friend, tom coburn of oklahoma will tell me why he thinks i'm completely wrong. no good deed ever goes unpunished. by the way, did i mention pending home sales rose a fifth straight month. the new bull market is pointing to a new economic recovery. fasten your seatbelts, the k"th kudlow report" begins right now.

good evening, everyone. i'm larry kudlow and we believe free market capitalism this is best path to prosperity. remember the old adage. sell in may and go away. that old wives tale has been proven completely wrong. judging by the plunging corporate bond spreads as well as cost cutting by businesses and accomodative fed, i see no reason why the s&p index, which stayed over 1,000 today can't cross 1100 or better after the usual pullbacks and corrections. i'm a total bull on this story. as a free market capitalist who does not believe in artificial spending or pumping from uncle sam i will eat a little crow on my next statement. at this moment in history, if