i'm jim cramer. welcome to my world. >> you need to get in the game. >> firms are going to go out of business, and he's nuts. they're nuts. they know nothing. >> i always like to say there's a bull market somewhere. >> mad money, you can't afford to miss it. hey, i'm cramer. welcome to mad money. welcome to cramerica. other people want to make friends. i'm just trying to save you a little money. my job isn't just to entertain but to teach you. especially on a tough day like today. call me at 1-800-743-cnbc. most of the time i come out here, tell you why the stock market soared or got hammered and how i think that you can profit from it. usually these moves -- [ bang ]

>> just a second. they make a degree of sense. sometimes they are so breathtakingly crazy, like today when the dow plummeted 250 points. s&p nosedived 2.3%. and the nasdaq sank 2.44%. i've got to pause with wonder and marvel at how counterintuitive the stock market must seem at home to you. i want to start with a query that put today's action in context that could hopefully make sense even as on the surface it makes no sense whatsoever. if i told you that you would get a big break at the pump because of plumbing and gasoline prices, i bet you would feel better. maybe overjoyed. you wouldn't be sad. you'd take the spare cash and go buy a treat or two with it. second, if i gave you a heads up that prices are going to fall at the supermarket for nearly every staple out there you would be

thrilled given that prices have been climbing for several years now. third, if you knew interest rates are going to stay low or go lower allowing you to get credit more cheaply to buy things, i bet you would be ecstatic. especially when you might have thought you missed the bottom in rates like my friends feel. all three of the positives were on display today. we know from our pocketbooks that each is terrific news. what gives? how could they add up to something so negative and horrible for the stock market. we're staying three weeks but it felt worse. didn't it feel horrible? i couldn't look at it the other day. here's the answer. while everybody but commodity producers love lower prices the people who allocate capital of the stock market, who view the stock market as a supermarket don't like sudden declines in the oil aisle, copper or cotton or the corn aisle or the interest rate aisle since all these things suggest a dramatic decline in demand and maybe

around the corner the r-word. recession. i heard it talked about today. recession. i'm not an economist. i don't even play one on tv. i don't want to teach economics. today was a day when lots of investors freaked out that there might not be enough demand. for everything that's facted from commodities. as long as oil drifts lower we welcome the decline. it gives us relief at the pump. when the price of crude plummets three bucks, it's under $78. on top of a huge fall that's been going on for weeks it's no longer welcome. we get worried that the global economy must be slowing dramatically. that's scary for people. that kind of action freaks people out. copper killed today. another sign that economies around the world are downshifting because we are using copper to build things. let me interject something important. i didn't say that this kind of

action freaks me out. i'm not from the rick james school of superfreaky investing. since i bought my first stock i have feared inflation, not deflation. it's inflation that scares me. we saw deflation today. i worry about declining purchasing power because of higher oil prices, not the lower ones. when i pay $4.50 at the pump it hurts me, it doesn't help me. am i supposed to be upset about getting out of shop-rite or shop wrong as some call it for less than $10? i like it when i can refinance and save several hundred bucks a month by calling my mortgage company and signing papers. so i'm not buying into the negativity scene. i know the pattern on day one of the commodity collapse. every stock goes down like today. and by calls to short the stock market because of worries about the slowdown. goldman sachs did it.

short the market! on day two we figured out where the winners are and we stopped selling those. by day three we picked the winners which, as we know, far outnumber the losers. far fewer companies make commodities than buy commodities. the thing that mystifies me isn't that we went down today but that we didn't go down yesterday. that's what should have happened. think about it. ben bernanke told you the economy was slower than expected but the stock market ignored the comment and went on its merry way. today the market reacted with a vengeance. yesterday should have been day one of the vicious cycle down, not today. i don't mean to be dismissive. not at all. right now the stock market is screaming at governments worldwide, saying don't just stand there, do something. the market is really tired of the chinese not trying to

reverse the stunning decline we have seen in their numbers. the market is in a sour mood about this country. despite ben bernanke's best efforts washington is doing nothing to create jobs. nothing to build new buildings. or give us clarity on taxes. the mood is justified when you see moody's cut the ratings on a host of banks after the bell. a telegraphed move but a negative move. let's remember this. we have had a remarkable run. we were in total dismay from the weak employment report and the news that major european banks could fail. we have had one of the longest upstreaks in ages. the dow jones industrial average surged without a pause. at the same time the governments have done nothing to improve the situation. nothing. we have been going up on belief that the world's policy leaders recognize problems and will do something about them. they aren't doing anything then indeed we are in for trouble. i still refuse to throw up my hands and tell you to sell like so many others.

there are so many companies and consumers who will benefit from declines in the prices. we pay at the supermarket, at the gas station, at the department store. there is no way i can view it as bearish development long term. it doesn't work like that. i respect it though as a siep that if the world leaders don't think about promoting growth, not just austerity, we'll see earnings shortfalls coming. that will drive stocks lower than where they are now. financial and technology stocks, industrials and oils. the market took a tumble for certain. as a gardener, i can tell you this was just a garden variety decline and no more. like gardeners everywhere i recognize that a drought of good news coupled with the wearying heat we are having will mean we could have real damage from without some action from governments around the world for not doing the right thing. let's see it as a cry for help and send us real rain. heaven knows we need it. nate in virginia, please.

>> caller: hey. a big sweltering virginia boo-yah, jimmy. >> right back at you from jersey. what's up? >> caller: about a hundred degrees. a big fan of buying homework and all the cramer literature. >> thank you. >> caller: it may not help me on red hat. i want to talk to you about it. >> all right. >> caller: they beat on earnings, revenue. they're best of breed, great management. then there was a statistic called billings which i missed. billings went down and a bunch of institutional investors pulled out and the stock got beat by a percent overnight. i don't understand. >> first of all, the -- they didn't go down. they just declined from the previous quarter. if anyone stayed at that time end of the conference call like i did they would have heard southern europe was strong, eastern yup was strong. jim whitehurst comes on "fast money" tonight with a good story.

that wasn't as bad as people think. the quarter wasn't bad. reminds me of salesforce.com's bad quarter and people realized it was a buy. i think red hat's good, but the stock was up huge. like bed, bath and beyond it was up so big it was almost impossible to appease the market. i'm a believer in whitehurst and i'm a believer in red hat. but you know what? let's give it a few days, and i don't mean odd job. diane in tennessee, please. >> caller: hey, jim cramer. this is diane in cleveland, tennessee. i have supper with you every night at 6:00. >> you suffer me? >> caller: yeah. >> you have a whirlpool factory? i'll go down and make washing machines. >> caller: volkswagen and amazon. >> oh, you have suppered with me. >> caller: supper! >> new verb for me. >> caller: i'm calling you about exelon.

it's down near it's 52-week low, is this summer heat and all this rise in temperatures, is it going to help it? >> i have been shocked. i have made dozens of calls on the stock. it's acted much worse than every other utility i deal with. you know what? 4% yield. well, let's do this. i would much rather see you in dominion, duke or in my absolute fave which is con edison. they're all better than exelon. thank you for suppering with me every night. i was getting hungry. red day, green thumb. today's decline was scary but it's in the garden variety and no more. these flowers are getting parched. we need real water. if we get it the stock market will go up. "mad money" will be right back. >> announcer: coming up, travel advisory? there's disagreement on the street over one popular discount travel site. turbulence ahead?

or time to get on board? cramer clears the air. and later, rough road. market jitters have been shaking down the industrial economy. is it time to invest for the long haul? cramer's gears have been turning. he found one stock that might be too cheap to ignore. plus, profit pipeline? cramer is looking into america's energy infrastructure to help shield your investments from the european chaos. could energy transfer partners help protect your portfolio? find out when jim talks to its ceo ahead. all coming up on "mad money." >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, # madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com.

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on a terrible day for the

market, worst in three weeks. we ask whether a stock that's been hanging in there like a champ, one of the year's best performers has finally lost its mojo. i'm talking about expedia, the largest online travel company on earth. the stock is up 65% year to date. where's the recession there? expedia is another case where we have two animals that are contradicting each other, down there giving each other the business. just like we saw with under armour on friday or starbucks earlier this week. we love these face-offs on "mad money." because they give you a sense of the best arguments for and against the stock. when analysts fight, you get a chance to sort through the bull case as well as the bear case. then to figure out which of the two is stronger. how about this expedia? on tuesday an analyst comes out to downgrade the stock from buy to neutral. got our attention. piper is the witness for the prosecution. they don't call expedia a sell

but reading it makes you want to put the stock in the sell block. the next day another good firm uses the weakness from piper's downgrade to reiterate the buy on expedia and raise their price target to $60. talk about dueling analysts. who's right? let's see if the stock belongs in the sell block or not. we know the company has terrific brands. expedia is the number one travel website online. they own hotels.com and others. they have mind share which is like horse sense. it's an important thing. in a commodity industry like the online travel biz you need as much mind share as possible. travel is coming back, especially in the united states. 58% of expedia's revenues and they have a runway of growth internationally. the company's market share is lower than in america but the system works. in the latest quarter it was phenomenal.

a massive ten cent beat off a 60 cent basis. maybe among the best so far in 2012. i know as an expedia client because of my co ownership in new jersey this is the de facto way that big corporations book their representatives when they hit the road. it's pretty incredible. why did piper downgrade on tuesday? to me this was a sell into strength recommendation. i like that. expedia ran so much they felt the risk reward was less favorable so they downgraded the stock. piper throws in a lot of caveats, though. they talk about how the company might continue to beat estimates. how the fact that they are upgrading their online platform could be good for business. technological improvement. piper believes in the long-term story here. is it just that the stock ran up too far too fast? no. there's more to the downgrade than that. piper talks about how expedia's european business does seem to

be decelerating this quarter. they saw unique visitors, that's a key metric. unique visitors for expedia's 11 sites up just 15% for may. that's good but it's a big deceleration from the 32% increase in april. uh wow. we saw that happen in travel zoo once. boy that was a signal. no surprise europe is the problem here. here's what concerns me about the downgrade. not long ago piper raised the price target to expedia, 50 bucks, 50 bucks. price target to, paid i can't and did it primarily because they saw improving international data. especially in europe. when less than a month later the same analyst says the stock is run too much, oh, and by the way, the european business isn't doing as well as we thought which was the reason they initially raised the price target in the first place, that gives us cause for concern.

either the analyst at piper is easily rattled or they think there is a possibility that expedia might not be able to meet wall street's lofty expectations. wow. hey, listen. the stock weren't up, i get that. but this is up 65% year to date. it can't afford the slightest stumble or it will give back a huge chunk of the gains. that's what we saw today with bed, bath and beyond. a very slight disappointment caused it to drop more than $12. 17%. with the european business decelerating, piper doesn't think expedia is worth the risk. the next day we hear there is plenty of upside. they raised the price target to 60. expedia reported it was a blow out corner on april 27. analysts said it was fuelled by expedia upgrading, optimizing websites. it's not only if the stock has

room to run but the technology upgrades are baked into the share price. their argument, when expedia upgraded hotels.com gross bookings for that business surged from 10% to around 40% by the end of the year. it gave the business a huge boost. now they are upgrading at the core expedia.com brand in a process that should last from the third quarter of last year through the fourth of this year. given that expedia.com owns 45% of the bookings, they think this upgrade could make a difference to the bottom line. they don't believe the rest of wall street recognizes how important the move is. always like to present both sides. where do i come out? you know i buy the technology argument as a long term driver of expedia's business. that's what i have seen as an inn operator. but the more bearish analyst at piper jaffray seems spooked and that spooks me given how much

expedia has run. i think they are right to be cautious. don't double down on an online travel site when the global economy is selling at least for now. i'm agreeing with the bear case and suggesting ring the register expedia. that's right. the stock is in the sell block pending a large pullback simply because it has advanced so much. the bottom line, price matters in this business that we are in. maybe not the hotel business but in the stock business. when the stock has run as much as expedia you have to take profits as the bears say. he's not really a bear, but the stock was barely down today. just a couple of bucks and change from the high. anything else would be irresponsible. even if the bulls are right about expedia's new technology driving better numbers you will get a better chance to buy at a lower price. if it doesn't pull back it's okay to say you missed it. there is always a good one coming down the pike. down five or six points from here it might be expedia.com! i'll try to save you more money after the break.

>> announcer: coming up, rough road. market jitters shaking down the industrial economy. is it time to invest for the long haul? cramer's gears have been turning. he found a stock that might be too cheap to ignore. and later, profit pipeline. cramer is looking into america's energy infrastructure to help shield your investments from the european chaos. could energy transfer partners help protect your portfolio? find out when jim talks to its ceo just ahead. all coming up on "mad money."

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how do we know when it's time to start bottom fishing in the industrials? it's completely out of favor in the wall street fashion show now. people have been selling industrial stocks like crazy. they are companies that don't do well as the global economy is slowing down. but you know what? there is a price for everything. some of the industrials have been so hammered that it might be worth considering buying some right here. take eaton, ten. divert identified industrial that makes everything from fluid power systems to electrical control products, automotive

systems, transmissions for medium to heavy duty trucks. the stock has been pounded, down 29%. wow. to the point where eaton now has a high 4% yield. that's the most important clue eaton could be buying. the juicy dividend is creating a floor. when you get there the floors are shaky. there is a floor under the stock and it's a fairly solid floor because it's worked in the past. do you know eaton bottomed when the yield surged to 4% the last couple of times. historically this is a fabulous buy points. there was a huge rally. it even went during the recession. the doomsayers say it would lead to a repeat of 2008 and 2009. even if they are right, we know eaton is secure when the yield is high. how do we know that? they just told you. they came on the show and told you it's fine.

stock goes down, buy more. that's frankly an incredible bargain. as much as i like to pick among the rubble for high yielders that's not the reason to like the stock. it's why you buy an industrial into a hideous day like today. the truth is eaton has a lot going for it beyond the glorious dividend. first of all, eaton likes to dominate in certain niches. it's the number one or number two in pretty much every single market they operate. they don't face much in the way of competition. second it's a well managed company. you have seen sandy on the show many times. one of the best if not the best ceo in the industrial sector. he's a conservative leader known for strong execution. he's not only aware of how his company is doing. he has an eye on the bigger picture including the possibility that higher taxes and big reductions in federal spending could create tremendous uncertainty next year.

according to a bloomberg account he advocates a strategy that companies stay lean and keep inventories taught. we figure he's practicing what he preaches. third eaton is cheap on dividends and earnings per share. it's now 7 times next year's estimates. historically around 13.1 times earnings. even though it's one of the best in the group. even if you're worried about a slowing global economy taking its toll on eaton's bottom line i think the stock has been punished enough. but the real reason to own it is because the acquisition they made paying $11.8 billion for cooper industries, its number one competitor. the move is a game changer. i have waited for the stock to come down until i feel better about it. i like the deal so much. cooper makes various types of electrical equipment from protections, power, distribution

systems to fighting and wiring components. cooper is a direct play. i know it's in the dumps but it is an area i like for 2013 because it's out of favor now. cooper sells in industrial end markets like oil and gas or mining concerns and providing power transmission and distribution gear and making lighting and in shopping malls, airports. this transforms them to a different company with less economic sensitivity and more exposure to north america. that's a theme i have pounded lately because the weakness in international markets. you want to be here. remember i was slamming walgreens because they are buying a drugstore chain in the united kingdom. we want our businesses here. the cooper deal marries two industrial leaders with complementary electrical businesses and allows eaton to expand into the higher marketplace gin faster growing segment. 49% of sales from the united

states. 26% from the rest of the world. after the deal closes eaton will be more of an electrical equipment play. with electrical accounting for 59% of their sales. truck gear at 12%. remember the synergies where you put two companies together to trim fat, get a lot of administration together. 375 million in synergies. eaton expects it will add 35 cents in 2014, 55 cents in 2016. knowing sandy cutler, a master of upod, which stands for underpromise and overdeliver, i bet the targets will be exceeded, possibly dramatically. though this is a pig deal i'm not worried about execution. eaton has a history of smart purchases. the electrical segment has done 28 acquisitions since 1990. we have faith that cutler p l pull it out. there is more to the story. eaton is a play on our favorite long term themes here.

electrical businesses helps the company save on energy costs. even with the price of it all boiled down big, the move toward energy efficiency is a terrific trend. eaton has exposure to the aerospace space. trucking like navistar. cummins, they haven't been hot. but the truck fleet in america is older than it's been in 20 years. trucking companies are going to be able to wait a bit longer, but eventually they have to buy new vehicles. changes in emissions standards will cause them to upgrade which is more business for eaton. the bottom line. eaton has a lot going for it here from the cooper industries deal to the ex-moe sure in trucking, aerospace. the reason the stock is good is because it's come down so far it's an accidentally high 4% yield as of today. that's the level where it becomes secure to own an industrial like eaton. buy them when they're scorned not loved. eaton is scorned as it's been in years. that's the time to buy.

richard in florida, please. >> caller: boo-yah, jim. >> down your way there, sunshine. what's up? >> caller: i'm calling about bgc, general cable. they beat the last quarter earnings and they have acquired a couple of companies. what do you think, jim? >> big ugly industrial. way down on its luck. if you can take a little bit of pain because they have a lot of europe. take a little bit of pain, maybe 10%, i would say you're fine. i'd be willing to pull the trigger. scott in new york, please. >> caller: my question is with the decline in neg prices, i was wondering your opinion on atlas pipeline. it's a high dividend yield. buy, hold or sell? >> we like jonathan and ed cohen. we believe the yield is for real. they have done a terrific job putting that company together. i will tell you yes, own that

stock. lorette in california. >> caller: what are your thoughts about utx, united tech especially in light of the recent changes and the new focus. >> i think united technologies is one of the great american companies. incredibly well run. i like to be price sensitive in utx. now the yield is 2.8%. when it yields 4% or 3.5, buy half. then more. that's what i want to do. not here but as it goes lower you can buy some united technology. even on rough days -- and today was a rough day -- we keep our eye on the ball. we have waited for eaton to come down. it's down. we're not shying away. we are stepping up to the plate. stay with cramer. ♪ how are things on the west coast? ♪ ♪ i hear you...

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>> announcer: the lightning round is sponsored by td ameritrade. it is time. it is time for the lightning round. you tell me your stock and i tell you to buy or sell. when you hear this sound the lightning round is over. are you ready, skeedaddy? steve in illinois. >> caller: what do you think of ctsh cognizant technology solutions? >> if i want to go outsourcing i'm sending you to accenture. it's cheaper. chuck in michigan. >> caller: $45 is las vegas sands a buy? >> i'm worried about chinese slowing and vegas sands is a chinese play. it is the best of the bunch. ron in kentucky. >> caller: jimbo. ftnt, fortnet. >> it's been a disappointment. i like security solutions longer term. may i suggest right now we hold back from network security stocks? i'm worried about their quarter. i can't recommend it. to iowa for gene. >> caller: how's it going, jim? >> how about you partner? >> caller: not bad. what do you think of rosetta stone.

>> that's speculative. i'm not a buyer. nice run. let's go to dan in illinois. >> caller: boo-yah, dr. cramer. >> what's shaking? >> caller: liquidity services. what happened to it? >> uh-oh. the answer is i don't know. stock got hammered today. i have to do some work on it. i don't know what was the matter with it. that's one nasty hammering. let me come back on it. laura in california. >> caller: hey, jim. i want your take on isis pharmaceuticals. >> look, we know any of the companies we have had -- hammered this home again and again. novel therapeutic compounds like from seattle, we like that stock. buy. tom in florida, please. >> caller: hi, jim. tom from sunny ft. lauderdale. gntx.

>> no, man. i'm very worried about that. that's a company my friend has cautioned me. there are real issues there. i don't think they have the orders there that i need. sell, sell, sell. rick in florida. >> caller: big orlando boo-yah, jim. my question is dri, darden restaurants. what do i do with it? >> i think the company reports tomorrow. i'm certainly not going to opine until i sew the quarter. way too close to make a determination. and that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade. 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.

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and is scalable as far as the mind can see. our cloud is the cloud other clouds look up to. welcome to the uppernet. verizon. after a miserable, terrible, horrible, no good, very bad day like today we have to take refuge in the safe haven stocks with notoriously b.i.g. dividends. for example i think the pipeline partnerships could be a place to wait out the rocky market because of fabulous-year-old

protection. energy transfer partners, one of the largest pipeline operators around. monster 8% yield. that huge distribution is enough to tempt anybody. but it's a complicated story. lots of moving parts. we need more clarity on what's going on. complexity makes it hard for people to get their heads around, including this head. it is a big transporter of natural gas and liquids. 18,000 miles of pipeline as well as nat gas storage assets. here's where it gets complicated. not long ago the parent company energy transfer equity merged with southern union in a deal to allow them to drop down terrific assets to energy transfer partners for a long time to come. on april 30 etp itself announced it was acquiring sunoco for $5.3 billion to diversify them away from the core business. to make it more tangled etp will be the general partner, get a 32.4 stake in sunoco partners. it's a piece that sunoco spun off in 2002. i like etp, the 8% yield.

my charitable trust own it is stock. we need to untangle the story. i'm thrilled to have the ceo of energy transfer partners here to talk about the company and where it is headed. welcome back to "mad money." >> thank you, jim, for including me. >> why do you think, first of all, it was a hideous day today. everything was down. why do you think the mlps have lagged given the fact that interest rates are low. not just yours but all of them. they represent a good opportunity versus what you earned for cash. >> well, jim, that's a great question. mlps, for whatever reason, have just not performed in line with the peers of other alternatives for investments. my goodness. when you can make this kind of yield and to a large extent it's tax deferred, it's just an odd, odd buying market out there. i don't understand it. >> well, i was hoping you would explain it. i don't understand it. you're one of the deans of the

business. i take it as meaning it is maybe an opportunity. could you please tell people why your stock should not trade in line with the commodity price either oil or nat gas? >> well, you know, you said something that is absolutely dead on accurate. we have created a complicated story. i think that's part of our problem. i think we need to simplify our story. we are simplifying our story. we are committed to going farther with that. we need to complete drop-downs of assets to etp. we need to clean this thing up. there is a reason that we got complicated. i would not reverse any of that. none of it. however, now that we have time to take a breather i think you will see energy transfer equity, energy transfer partners, regency. this sounds weird. sunoco, you will see the story get simplified over time. >> one thing i saw in the most

recent announcement was a change. i felt when you were on last you might have to issue equity which i'm not against. they have been great buying opportunities. it seemed in your last announcement it looked like you don't need to raise capital because of the different deals you have done and the structure itself is ready once it's simplified. >> you know, the growth that we are experiencing now is huge. we are between now and the first quarter of 2013 spending between $2 billion and $2.5 billion if quality, quality pipeline projects. so, yes, sure. we need equity. that's part of what we do. however we sold our propane company. that was -- we think, a positive move for holders. it was a better redeployment of capital. reduced our needs for equity. we will continue to need equity because we'll continue to be a growth story. i will tell you, jim, we have

been -- i know that we have probably created a little bit of deal fatigue to the market because we have been so inquisitive. i know that. it was necessary. it was necessary what we have done absolutely was necessary. we have transformed the partnerships. we are in the right place with the right diversification. energy transfer is in a really good position and we'll simplify ourselves. yes, equity will be required over the years to come. but it's not as much required as it was a few months ago. >> that's very important. what i care can about is not equity but more important distribution growth and when that's going to start for you. when i hear you talk about the tremendous growth you did just now, i think 2013 we can expect distribution growth. do you think i'm off base? >> i think you're dead on accurate. we do not or will not give guidance. if we don't increase

distribution by 2013, please don't call me to come back on the show. it would not be fun. >> fair enough. you're an honest guy. speak to me in general about the industry. we seem to have too much in natural gas liquids, too much in natural gas. it's kind of like a few years ago that would have been fanciful to say that. where's all the stuff going? where can you put it? you're a big storage play. what's happening? all i read about is we are so overloaded with stuff that there is no place to put it. >> well, we've got the most efficient market in the world. it's an amazing thing. everybody talks about that we are overloaded. you're right. i will tell you. we have, i believe, the largest natural gas storage facility in texas. for the first time in the history of the storage facility we didn't turn it this winter. that tells you the seasonal demand isn't there. it's more well head to burner tip which is not a great thing to be.

that's why there is no basis in the business. everything being produced is being consumed. there is not a lot of turning of storage. storage is a bad business now. >> we have a bunch of hot days. everybody's cranking up the air conditioner. no, no. not enough? >> also, too, look what's happening. we have glutted the market out of good fundamental science. that's a great thing for the nation and a great thing for the natural gas business long term. this is really, really good. more infrastructure is needed. that's what we do -- provide infrastructure. but, you know, i'll tell you. there's just -- there's no money in storage business anymore. it's just -- it's just not there. the gas business is very healthy. it will recover. all the drill bits are chasing oil or natural gas liquid rich environments. they are all chasing that. ultimately this glut will be worked off. natural gas prices will rebound. they always do. crude prices will go up and they

will go down. they always do. frac spreads for ngls will be reduced. they always do. look at what energy transfer created. why did we do this? if natural gas prices go up we make money with the natural gas business. if frac spreads decrease, we don't make as much money on that side of the business but if crude does, we do. i'm pleased with the diversified partnership we created. although it's complicated it will be simplified. we're in a good position. >> you're a gent to come on. you can argue you shouldn't but people are confused. i think you helped eliminate some of the confusion. you mad it pretty clear that 2013 is going to be a good year. thank you for coming on the show. >> thank you, jim. >> chairman and ceo of energy transfer. we're mystified. it's a bargain. obviously this is a terrible market.

but an 8% yielder, i think, may be the protection you need. stay with cramer. laces? really? slip-on's the way to go. more people do that, security would be like -- there's no charge for the bag. thanks. i know a quiet little place where we can get some work done. there's a three-prong plug. i have club passes. [ male announcer ] get the mileage card with special perks on united, like a free checked bag, united club passes, and priority boarding. thanks. ♪ okay. what's your secret?

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has celegene, the long time cramer fave grow stock lost its momentum? is this one of the greatest pharmaceutical growth stories ever told? isn't that the latest takeaway from their decision to pull the

european application for the expanded use of their main blob drug as a first treatment against myeloma, a deadly blood disease? they fell $7.72 or 11.5%. on the same day onyx pharmaceuticals soars 43% after getting approved from an fda panel for a new drug. to fight the same darn disease we're trying to defeat. are we watching a new star born while an old one dies? the street has dramatically turned against celegene but now at 59, that stock was as high as 80 a few months ago. the stock has been under performing all year causing me to wonder if some weren't speculating it might be in the wind. that said, the stunning decline makes sense because the european approval for expanded use was in

the numbers so to speak. since the ceo, one of my favorites said they could await the company if approval comes through. i thought it was when frankly, not if. plus, if onyx's drug is heavily embraced by the panel some people think the whole franchise could be in jeopardy. onyx has word on the approval and it could go higher after a couple days of digestion, i don't like to buy up huge. i prefer to say, we missed this one. i have liked the company since it came up with novel drugs to combat kidney and liver cancer. onyx shocked people with the new myeloma drug. as much as the expectation that they would get european approval, it wasn't in the numbers. onyx's new drug wasn't. should celgene be abandoned? the credibility was damaged here. at the same time they reiterated estimates, talked about earning $8 to $9 in 2018 per share. i think celgene deserves some benefit of the doubt when they

will follow up the uh approval when more data is available. thinking for strategically, speculations which is why i come to you. a country with serious entries in treating kidney, liver and now blood cancers. is a company that can jump-start any old pharmaceutical company. it makes onyx still a juicy takeover target. yes, celgene reminds us when a company dependent depends on one drug the stock can be more dicey than you like. even as the $3.2 million dollar drug is the envy of many. it's imperative they show growth away from it while making the claim the drug is superior to anything onyx has to offer in the blood cancer category. i hope it can do so. i want to be a buyer but i'm chasing bier. a chasing buyer of that. you can be certain that's the case. i believe in celgene, but this was a stunner. stay with cramer.

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what ? customers didn't like it. so why do banks do it ? hello ? hello ?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello ? ally bank. no nonsense. just people sense. >> all right, look. i think it's a garden variety correction. believe it or not if oil went up tomorrow this market would reverse. i know. that's nuts. moody's downgrades, nothing new there including the fact that morgan stanley didn't get oc