there's no other car like this on the road. ♪ i'm jim cramer and welcome to my world. you need to get in the game. they're nuts. they know nothing. >> i say there's a bull market somewhere. "mad money" you can't afford to miss it. welcome to "mad money." i'm trying to save you up money. my job is not to entertain you but to educate you so call me at 1-800-743-cnbc. today we got a glimpse of what could happen if the european mess ever gets resolved. today with the dow roaring 96 points, the nasdaq climbing 1.19%, we saw how the market could rally to all-time highs on

even a whiff of worldwide growth. >> all aboard! >> everybody who focuses on business news spends a tremendous amount of time fretting about what could go wrong. we can easily see big banks in spain come crumbling down, spanish interest rates go too high for the government without help from germany. you understand any day in and out italy may not pay for bills. we get that a greek coalition might be feckless and the country may run out of money again. the euro almost went down the tubes this very weekend. today was different. today was different. today the market sensed a turn. it sensed that the you're yo is intact for some time as evidenced p by a big move up for the euro versus the dollar. that's how you measure at home. why the optimism? now that the greeks have voted for pain, they're rewarded with easier credit terms to help the

bedrangled country grow its economy, and that's a huge change. it says to struggling countries, like, if you do what's right for the european union, the union will do right for you. this got people thinking that perhaps the jackboot of austerity will be lifted over the whole continent and may be angela merkel, the german chancellor, is just tired of fighting tooth and nail against growth that she thinks is going to cause inflation. growth, i don't talk about it enough, but growth, growth is a magic elixir with a smidgeon of hope about growth, the bailout of the spanish bank seems more reasonable and it could be a path to repair and not just despair. we've seen housing inflation crashing down in china. giving the chinese central bank much-needed breathing room to cut interest rates, and there's

still a lot left to cut. there's hope that the federal reserve tomorrow taking advantage of the decline in inflation recognizing the employment is still far too weak might have something up his sleeve to improve the economy. is this all pie in the sky? the better way it to look at it is europe might not be so awful and can pull out of its tailspin before a fiery con flag rags ensues. employment in europe, it is hour rend yus xpt in germany. if you listen to federalexpress and oracle said the european economy is hanging in there, you get the sense it isn't a stretch to imagine -- boy, i'm going to say it. i'm going to be ridiculed, a comeback, something that seemed downright inconceivable a couple of days ago. that's the real issue. we can't be in an armageddon on

and off atmosphere. we will never get a sustainable rally in this environment where we dawn is armageddon and the next day isn't. you can see what happens when you do believe and see what happens with hope or see what happens if you smoke the opium. today we got a host of positives. first fedex did report an okay number, not great last this morning. it talked about punk volumes. it cut the forecast. that should be the kiss of death, right? whenever we hear the cut forecast, we get a train wreck and everything. all that nonsense. >> house of pain. >> fedex would have gone down a minimum of three points and that would have been the sport. instead it rallies $2.50. second, the number of downgrades of industrials coupled with price target reductions. cmi, the best of breed engine maker. they spoke negatively about the company because of weak wordwide growth. two weeks ago it would have been down 5% to 7% on that same exact

report by the brokerage house. today comes at 2.4% higher. third, we know oil is going down and taking the entire energy complex with it. when you get a weaker dollar that sends the price of oil up. when you have a restoration of global economic growth, including the possibility of china using more energy, you get what looks like to be a bottom in the price of crude oil. that causes everything from the independent natural gas companies to the mastive limited partnerships to the big oil service places to the major integrated oils and gas companies to spike. i'm putting that rally right at the feet of the apparent save of the euro, which then got stronger versus the dollar. fourth, on a day of greek righting or spanish bankrupt do we carry that oracles signed with two of the largest financial institutions?

oracle's view of things are better than we think caused sap, the huge german consulting and software firm to go higher. we believed in oracle, the skepticism for a day dissolved because of the growth hope and the jackboot being removed from the jugular of growth in europe. we really want to believe in aerospace. honeywell which has a dominant aerospace component business talks about slowing in europe. dow stocks are knocked off the trajectories. honeywell seems like old news, which all three of the stocks rallied. we know that the auto market is on fire here. you call in on the lightning round, i have to say the same thing stay away because the auto makers have tremendous european operations that kept iron lids on ford and general motors. those lids popped off today. hope that europe favors growth. finally we know our financials

can't rally if europe's banks roll over because we think the banks systems are too enter related. today we saw the good side. the relations are way too overstated. our charitable trust is buying a ton of j jpmorgan. dimon has made it clear in his senate testimony last week and house testimony today. last week's losers can bahama winners quickly, jpm climbed 2.2%. the housing index broke the out, and the material stocks like copper and coal rallied on chinese rate cuts, not europe's issues. i'm not for a moment -- listen up, people. i'm not saying that the current fundamentals, the current fundamentals justify this leg of the rally. obviously fedex business wouldn't be so easily overlooked if it weren't for hope. we might like skans at oracle's numbers. the continued rally in the rails

seems downright fanciful. i'll go a step further and say without more concrete evidence europe will do the right thing and support growth, we believe that the stock prices have already overrun where they deserve to go based on near-term corporate prospects. the cold, hard facts don't support the runs in the stocks but they dissolve in the face of a future that looks better. here's the bottom line. you get europe back on any growth path whatsoever, you see a major rally that will take us far higher. this is not the path that europe has chosen so far. they have picked austerity over growth time and time again thanks to the germans and give us sterman drag. as demonstrated by the positive action, it's not too late to get the european course correction to turn around the world's fortunes in a dramatic and p positive fashion that the germans have been against but maybe they're changing their tune. i'm going to yuris in pennsylvania. >> caller: thank for the great

advice. appreciate you. >> you're terrific to say that. i'm out there every day trying. what's he going on? >> caller: not much. i have a question about credit card stocks. three of my top ten mastercard, visa and discovery. they have done well for me, and all three have beat expectations including discover this morning. i wanted to get your take on the category overall and see if there's one company you prefer over the other. >> you have so right. this discover was just a fantastic quarter. i was kind of blown aaway by it. i do like american express. it has more europe to it. visa and mastercard are more technology plays. i like visa a ton. cory in massachusetts. >> caller: hey, jim. thanks for having me on again. what's going on? >> not much. how about you? >> caller: not much. i have a quick question for you. ticker is arna. >> most asked stock. this is the single most asked stock for me @jimcramer on

twitter. i believe obesity is a major problem. i think the fda is recognizing that and they're fast tracking arena and even though it went up a lot, stick with it if you're speculatively inclined and i'm redoubling that saying stick with it. everyone who tweets me, you have now heard. today we saw what can happen if europe continues on the path of growth! and if the germans just get tired of fighting it, there could be a lot more days like this one. "mad money" will be right back. coming up, positive pipeline? from the lab and into our lives, biotech firms find innovative ways to keep us healthy. tonight cramer is navigating away from european whoas and giving companies a checkup. just doing it. it's the star of the sports world, but is nike a buy before the olympic torch is lit?

find out if the swoosh is ready for a sprint as cramer checks for technical fouls in an all-star edition of "off the charts" all coming up on "mad money." don't miss a second of" mad money" follow @jimcramer on twitter. send jim an e-mail to madmoney.cnbc.com or give us a call. miss something? head to madmoney.cnbc.com. ♪ [ male announcer ] aggressive styling. a more fuel-efficient turbocharged engine.

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last night i did an anatomy lesson on "mad money." if you manage your own money keep a single eye on the u.s. for speculative ideas. take bmrn, it's a biotech firm in the sweet spot of the orphan drug business, which treats rare diseases. why is it so special for you as a viewer? the government gives these companies extra special

incentives like enhanced protection. the company specializing in developing enzyme replacement therapy for rare diseases. they're the only products on the market. they can charge literally a great deal of money for its therapies, with some costing more than $300,000 a year for a course of treatment. they have three orphan drugs on the market in the u.s. and a fourth aapproved in europe, but the real reason to own the stock is for the pipeline. they have three major catalysts in the second half of the year. phase two data on a second drug known as pku expected in september and another drug known as mps where a patient lacks a crucial enzyme needed to dispose of the body's waste material in a cellular level. for pompeii disease is another rare condition. they did a secondary offering selling 6.5 million shares back

on may 31st and the stock is 65 cents above that level or two points off. the seemingly legitimate take-over talk, i think that's been quelled. they gave us a 70% game since i got behind it two and a half years ago in october of 2010. that's why i'm thrilled to have john jacques benetimi te on the show tonight to talk about his company and where it's headed. this is maybe one of the most exciting biotech companies i've had on the show. welcome to "mad money." >> thank you, good afternoon, jim and i'm very happy to be here. >> i think that people are going to be confused, because i've not had a lot of orphan drug companies on. i think the first thing people say is, why didn't you ask him, do they target certain niche illnesses or have a certain kind of drug therapy and then they

find which niche illnesses can be treated by that drug therapy? >> well, it's a combination of both. we obviously have a very good understanding of the 6,000 orphan diseases or so, which one are in need for therapy and for which one there's a well understood biology of the disease and then through iterations and interactions with experts in different university hospitals, we come up with some ideas as to which molecule can be effective in those diseases. >> is there a holy grail here where you stumble on an enzyme for more than small populations or does it matter? can you have a whole jose wicks of small populations you treatment and become a very successful drug company? >> that's correct. i think, you know, it's unlikely that we would find an enzyme that would be effective in a very large patient population.

most of the time the patients we are treating are basically a mutation that is a rare mutation that makes them, you know, having a very debilitating disease. but at the same time in a sense we're the opposite of big pharma. generally big pharma looks at a positive improvement in safety with a large population, and we look at a very significant safety improvement in a very small patient population. that's our business model. >> is that why, sir, the health insurance companies which we all pretty much regard as stingy are willing to pay the freight because of the remarkable success that you show for otherwise patients who might cost the health care system far more than $300,000 a year? >> no, that's correct. all the patient populations we serve are extremely sick patients with life-threatening diseases, reduced life expectancy. they consume a lot of health

care resources and have multiple wa hospitalizations and surgeries and it explains why we can charge what we can charge for the price of our drugs. at the same time these are extremely small patient populations. our leading drug is 1200 patients in the world, so it will never have a significant impact on the budget of those health insurance up companies or governors. >> now, i'm trying to understand where t whether the fda is more targeted to in the sense you have phase two catalysts chls. in your particular situation it seems that the pace in population is so desperate is phase two is a closer milestone than for most drug companies i deal with. >> that's absolutely right. in our development times are much, much shorter than industry average. our drugs generally are developed in four to five years from first in human to get approved because indeed the

patient population is so limited that regulatory authorities cannot ask us for a very large clinical trial size. >> i've got to tell you, sir, i've been in awe of your company for a long time and recommending because you're great scientists, and i was the original investor in genzyne. your model is fantastic and you did a great job. thank you so much for coming on "mad money." >> i appreciate it, thank you. >> that's the ceo, and listen to me. genzyme is one of the biggest hits i've seen. biomarin pharmaceutical, and i can't believe the major pharmaceutical companies will let it win forever. stay with cramer. coming up, just doing it? it's the star of the sports

world, but is nike a buy before the olympic torch is lit. find out if the swish is ready for a sprint as cramer checks for technical fouls in an all-star edition of off the charts. healthy outlook, a court of therapeutics is pushing the science for juror logical treatment to new frontiers. tonight cramer is speaking to the ceo to hear more about the new technology changing people's lives. all coming up on "mad money." [ male announcer ] trophies and awards lift you up.

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[ male announcer ] the nation's largest 4g network. covering 2,000 more 4g cities and towns than verizon. rethink possible. how do you tell the difference between a horrible decline and a buyable pull back? right now we're in a moment where tons of stocks hammered in recent months seem to be rebounding. how do we sort between the stocks that truly bottomed and ones that are still dangerous. tonight we go off the charts to help you answer that question with the assistance of dan fitzpatrick by calling it the street dugup. what separates a buyable pull back from a stock a falling knife or falling basketball, depending on whether you're as tall as i am? take cramer fave nike? this stock has rallied over 160% from march of 2009.

over the past few months the long-term uptrend seems to have fallen apart with nike down 10% in the last six weekis alone. p if you check out the daily chart, you see things that most technicians consider serious red flags. ever since nike peaked at 113 in early may, the stock is making a series of what we call lower lows and lower highs. boom, boom, boom, boom. this doctor says this is a classical technical signal to sell a stock. p if that was all you considered, you would want to bail on nike here. however, fitzpatrick says the story is more complicated than that. the weakness looks like an eminently buyable pull-back the kind you get in a high quality stock. it's one of our favorite growth stocks from way back. what is more bullish about the situation? for the past few days nike has held above two critical levels

of support. the first is $100, which a key psychological level of support because it's a big, fat, round number. sometimes they're more of an art than a science. people say, okay, i'll sell if it drops before 100 bucks and if it pulls back to $100 i'll buy. that's very good news to a charter like fritz. the essential crucial floor of support is nike's 200-day moving average. a long-term measure of the stock's trajectory. chart oriented traders use this as a quick and dirty way to buy and sell a stock. if it's above the line, it's a buy. if it drops below the line, it's a sell. it seems extremely simplistic because a lot of traders who are making decisions. remember when the market broke down below the average not that long ago, everyone thought the parlance, the chatter was it's

si syonara. nike feels confident that the dow might be limited because it's trading at 101 and change. that's the beginning. the story gets better when you consider the volume on the two big down days, june 13th and june 14th, where nike collapsed from 107 down to 100. we saw a huge spike in volume to more than twice the daily average. now, though the trading volume has reverted almost to normal a, nike is holding firm. this leads fitzpatrick to the conclusion that nike's bill sell offlast week was a selling climax. it spiked and is back to where it normally is. everybody who wanted to get out got out, and that means it's likely run its course. this is the climax theory. given up the big shakeout has happened, fitzpatrick thinks a lot of risk has been taken out of the stock and is aa safe buy.

they believe nike could be worth buying aggressive on any pull back closer to $100. his reasoning is based on the longer term weekly chart. take a gander. for fits this chart puts nike's entire uptrend in 2009 in a beautiful perspective, and it suggests that this positive trend is far from over. when you go up a step back like that, it's like wow, that's a home run chart or a triple double. the recent breakdown in nike is nothing more than a pull back to the 200-day moving average on this. we've seen these moves repeatedly over the last three years. each time nike has tested this crucial moving average, it's hell. it's been a terrific buying opportunity. the stock resumed its long march upwards. during 2009 and 2010, nike pulled back to the line three times, and after each one of these moments you caught a fabulous rally. last year nike was trading

sideways building a high base and it went below the 40-week moving average, and the high base was completed and the stock resumed its rally launching bouf the 40-week moving average and above the stratosphere. the support is the 40-week moving average and they think it should rally nicely from here. that's contrary to what a lot of people are talking about. as long as the stock is north of 100 and fits believes you get a rare chance to buy nike at a terrific low-risk entry point. it falls below 100 and it's 200-day moving average and all bets are off. things get worse before they get better. he thinks that outcome is unlikely, though. i think the fundamentals are darn good, which means nike is a bargain on any pull-back. i love it if the stock dropped below 100 bucks because i'm not in this 200-day gumbo thing.

nike reports next thursday, june 28th. we know nike is the process of putting across the board price increases at 8%. companies are rapidly expanding chinese business. it delivered good results but the stock sold off hard. nike has a unique key metric you find at no other company. they have a system that allows retailers to order merchandise five to six months in advance. the results in the system are called futures orders. that's right, futures orders is the operative term. the last quarter they were terrific up 15% worldwide. but the key to this stock is the summer olympics brought to you on nbc which kicks off in london on july 27th about five weeks from now. nike owns the summer olympics. you'll see it. they will be carpet bombing our network with advertising, and contestants all over the world will be wearing this and look just like me. well, metaphorically.

that's the case since they stopped doing the summer and winter olympics in the same year. nike is up 6% year to date, which is actually lagging the s&p. you know this stock is going to take off and leave the s&p in the dust, which means you have an incredible buying opportunity right here, right now, right here. here's the bottom line. the charts, as interpreted by dan fitzpatrick, suggest nike has a rare and precious buyable pull-backs, and i have to agree. i think nike is a buy here. if it sells off in the quarter next week or you can get it for less at any time between now and start of the london olympics, then i say, just do it! tim in michigan. tim. >> caller: hey, jim. boo-yah, love your show. >> thank you, partner. what's up? >> caller: say, i just had a question about skx, sketchers. i bought it a while back too

high and now it's turned around and i'm making a little bit of money. should i sell that thing, or do you think that this thing may hit 30, 35 or am i just dreaming? >> i think there's a little bit of dream going on there. i think you could get another -- look, this company is in purgatory, okay? it missed a bunch of quarters and has got it together. you can go to 25 and not more than that. there you ought to, but thank you for your confidence. may i go right now to jim in the state of wyoming. jim. >> caller: boo-yah jim from spectacular jackson hole. i've been a action alert subscriber for a couple of years now. i'd like to thank you, stephanie link and your entire team. >> i speak with stephanie 47 to 62 times a day. what's up? >> caller: i calmed on may 30th about wolverine worldwide, and you had positive things to say about the stock. at that time the stock was

trading about 42 1/2 and it's come down over 10% since then. nike has come down about 6% over the same period. is wolverine stock price unduelly hurt by the european activities in the stronger dollar, and meets your medium term outlook for the stock? >> i think there's a worry there and the shoe business has cooled off. designer show warehouse reported a not great number. i think wolverine is a good story. i recognize it had a good multi-year run but it's in good shape. i say stay with the www.. how about deniece in new york. denice. >> caller: hi, jim. we're saving up for our kids approaching college. we want to say thanks for your sound advice in navigating the stormy season of the stock market. >> you're terrific for saying that. it's a rough environment. what's up? >> caller: here's a big nautical

boo-yah to you. my question is this. given the recent pull-back in u lulu which we own, do you think the drop is an overreaction to the fact they brought down they are guidance. do you think the growth is slowing or an example of underpromised and overdelivered strategy? >> what a great question. i gave an answer to realmoney.com about that very situation. i lump it in with starbucks and panera and chipolte. the companies reset the bar. i think the bar will be beaten, and i think we will win in this fine. run, shoot, and score! great. all right, give that back to me. i can do it. i can do it. you just do it! by some nike. stay with cramer. p [ tires squeal, engine revs ]

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it is time for the lightning round on "mad money." then the lightning round is over. are you ready? it's time for the lightning

round. we start with sean in colorado. sean. >> caller: by boo-yah from boulder, colorado. love your show. i was wondering about atvi? >> i think that business is dying on the vine. i want out. sell, sell, sell. i'm going to rex in california. >> caller: boo-yah, jim. rex from palm strings. the similar boep bowl is bbep. >> no, i go to better growth products. >> caller: boo-yah. >> nice. boo-yah back. >> caller: florida boo-yah. i want to know agmc, american capital agency? >> it's okay, but they said they kept the distribution only at 17. let's go to joe in ohio. joe. >> caller: hey, jim. i want to thank you for such a great show that you've given us,

and i think it's been a wonderful invention. my question is tractor supply. >> this is the short sellers. i think the business model is good and i know the stocks come down a lot but it's a fine growth shop and i stick by tractor supply. i need to go to johnny in california. johnny. >> caller: boo-yah, jimmy! >> what's up? >> caller: i just got married and i'm setting up my i.r.a. would you recommend me taking cm wear or emc. >> i prefer emc. a little less wild, a little less crazy. big data is something that a lot of oracle calls. i want to by e emc. lee in pennsylvania. >> caller: how are you? >> all right, lee. how about you? >> caller: go phillies. the stock that next week the

supreme court will give information about the health care law, and i want to know about quest diagnostics. >> i have a feel for quest. i think the stock is moving up. it was stalled for a long time. it is a fine company, but i'm not sure how it dove tails what may happen with the supremes. shelley in new york. shelley. >> caller: so nice to have you on tv. thanks for helping this small investor. >> that's what i'm trying to do. >> caller: a great big boo-yah from shelley in brooklyn. >> love brooklyn, be there later this evening. what's up? >> caller: jim, maybe you could help me, please. over a year ago i bought citi corp incorporated, symbol c. it was only $4.40 a share. i bought a couple of shares. then it split, which i thought would be a good thing, but they gave me very few shares and posted a higher value and i have

lost about half the money. >> it's too low to sell. it is my favorite bank. i like the domestic banks and, look, i like jpmorgan. i like them all better than citi. that is the conclusion of the lightning round! >> the lightning round is sponsored by td ameritrade. like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account.

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like i told you earlier, you want to speculate in this viral environment, do it wise. find small relatively uncovered companies that have their own internal catalyst that don't rely on a vibrant global economy to thrive. we don't have one. this is a good time to speculate in the right biotech companies. they live and die based on fda approval and the success or failure of their drugs once they hit the market. this is a parallel universe where we don't fret about the big macro worries that thrive on a day-to-day basis. it's a $916 million biotech firm

that's profitable. back in 2010 they received an fda approval for an incredible drug that helps people with multiple sclerosis regain ability to walk. it can work on additional diseases, and that's the holy grail of the form of business. they're seeing if it imperia can work for patients with chronic strokes and cerebral palsy though they're in early stage development. they're looking for spinal cord injuries that receive fast track from the fda. it's a long way from hitting the market if it does. goldman sachs put a sell rating on the quarter. something i got to know more about but the future is so important to companies. on the other hand the main drug is quite promising, and that's why i want to talk with dr. ron cohen, founder and president and

ceo of core theraacord therapeu. >> okay, sir. point black. given all the multiple indications that it might be good for? >> well, we've projected that we'll do about 250 -- between 255 and $275 million in sales this year. we have not projected into future years. we believe that there's a long way to go. there are a lot of people with ms who have not yet tried the drug, and we believe that they should. >> how does that work? i would think if i had this terrible disease and i had trouble walking i had call my pharmacist or my doctor and say how do i get on impera? >> as you sashgs the drug does something that no other drug has done before, which is to improve a fundamental ability in people with ms, the ability to walk. p if you're responsive to it, it can be a terrific thing.

our challenge going forward is to make sure that as many people with ms who have a walking problem know about the drug and know that they should be asking their doctors to try it. >> in germany there's some talk it may not be as big an opportunity. some challenge it as physical therapy could be every bit as good or better. you've established that's not the case, right? >> yeah. there's a new process in germany. actually, the launch which is done by our partner outside of the u.s. has been going extremely well in germany and other places in europe. people with ms are just as excited there as they are here to try the drug. i think what people have been responding to is there's a new system in germany for evaluating how they're going to reimburse various therapies and the body that does that came out recently as they have with many drugs that they've been evaluating saying we compared it to in this

case to physical therapy, and we think it's about the same. we don't believe that that is true, and furthermore there's a big difference between someone going to physical therapy every day for the rest of their lives and just taking a pill twice a day. >> could that be because of what we hear about over and over again in jurp, they're trying to cut back where they can cut back? >> i believe that that certainly plays into it. >> goldman and i want to approach it head-on, on may 18th they recommended sell. i found this curious. they say we see as unlikely a meaningful acceleration key catalyst of the shares driven by marketing efforts, given the first quarter miss. we also see downward revision risk to earnings per share because of sales and profitability in the u.s. it doesn't sound to jive at all with what you're saying. >> yeah. you know, that was one analyst's report. we have about a dozen following us that is not the opinion of many of the other analysts,

certainly not our opinion. we did have a miss in the first quarter, and that was due on to a seasonal issue in january, which is complicated so i won't go into it right now. what we've told everyone is that our prescriptions and sales have actually been going up progressively every month since january through the last time we told people, which was through april, through the end of april. we're actually very pleased with the way the drug is going in the u.s. furthermore, we see responsiveness to our efforts to get to the consumer, to get to the people with ms and to have them be aware of the drug and what it possible can do for them. we think we see responsiveness now to those marketing programs so more people are asking their physicians and getting on the drug. >> doctor, we have david pyatt on the fabulous ceo of allergan and we talk about botox being a pipeline in itself. it has many, many uses. could impera be a similar pipeline within a pipeline for

multiple different illnesses as you test them. you don't recommend off-use, but there's a lot of qualities for a lot of different diseases. >> we're very excited about the potential, and i have to make sure everyone understands we are an earlier stage development of those other occasions. we have to see if they work, but for example in preclinical or rat studies of stroke, it was shown several times already that giving this drug to rats with chronic strokes, stroke that was done, you know, a month, two months before actually improved limb function, forelimb function and hind limb function and walking behavior. we're excited about that, and we started a human clinical trial in people who have had a stroke in the distant past, at least six months ago, years ago a. hopefully by early next year we have results and we'll see whether this might help with chronic stroke as well. we're doing a trial as you mentioned in people with

cerebral palsy, which is a terrible condition, and hopefully we'll have data towards the end of the year in that condition as well. >> dr. cohen, it sounds like a very exciting story. thank you so much for coming on the show. >> thanks, jim. >> guys, profitable biotech company, multiple different uses, potential for a very big drug. you should check it out. this has nothing to do with the economy. today the economy seemed okay, but we know better when the economy once again rears its ugly head in the next couple of days. stay with krarm.

in business there are a lot of ways to win. you can outexecute your competitor and sometimes you win by doing nothing. nothing but going against flailing and faltering competitors who are floundering in unfathomable ways. to put it another way, you're lucky to compete against jcpenney and walgreens. they announced the departure of michael francis to help ceo ron johnson turn the company around. francis was part of the dream teams that johnson put together to reinvent jcpenney in a fresh, imagine active way and wean its customers off the high initial markup and coupon strategy that was penney's m.o. for 18 years.

there's a horrendous 18% decline in store sales intends to take over merchandising as well as the overall running of the stores. jcpenney while early on in the reign seemed to have lost its way, some is because jon son seems barely exchanged. some might be because the company has no raise on debt, and some could be because long-time customers can't understand or fathom what is happening. the result is billions of sales up for grabs, and those sales target to macy's and walmart and even to sears. not just to the short sellers but to very lucky competitors and to the not so good ones like sears. we see the same thing at walgreens. ever since the company declared war on express scripts it's all downhill for this drugstore chain. competitors are fleeing to cvs.

rather than stem the defections, today walgreens announced it had taken a 45% stake in alliance boots a huge drugstore in uk. what the heck? how does spending a fortune to bay a global drugstore chain help reverse the defections to c cv s? this is a tough business going to international, when international is not the strongest swimmer doesn't make a lot of sense to me, especially when like walgreens you pay a price per earnings that's much higher than the trararget you te at yourself. they really overpay versus the real metrics. going in a host of directions at once like jcpenney is trying to do doesn't make sense on toe many. these plans are terrific reasons to buy, buy, buy their competitors as the failures and fumbles play directly into the hands of the stores right next door to their own operations.

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