other tax break. and raises taxes on middle class families by... up to two thousand dollars a year. mitt romney's middle class tax increase. he pays less. you pay more. i'm jim kramer and welcome to my world. you need to get in the game! going out of business and he's nuts, they're nuts, they know nothing! there's a bull market somewhere already "mad money." you can't afford to miss it. hey, i'm cramer. welcome to "mad money." welcome to cramerica. i'm trying to save you money. my job is not just to sbhan you but to educate you. so please call me. so i'm watching a woman's beach volleyball like everyone else in the country or at least every male in the country. i'm thinking, hm, when you're out of position in that game it is just brutal. just like this one. where the dow edged up 7 points

today, s&p 6% higher, nasdaq slipped 1.5%. we've been seeing the equivalent of everything the u.s. woman's team has been throwing at every other team they've been up against in this market. first we've got the dink, one of those shots where everyone's expecting a major slam, instead a light tap-down to where no one is. has it week the federal reserve said it was going to do nothing, that was a smash to the bulls. it somehow got returned albeit an easily fashion. the bears couldn't convert it at the net and the bulls were still in shape for the allegedly jarring european central bank meeting. we got chatter how the central bank was going to help italy both with their bond markets and banks. a big show at italy. a nice setup for the bulls. when they got that positive employment number on friday they got that perfect dink. why was it a dooepg? dink? the papers were filled with second-guesses that said the jobs number really wasn't that

good, it was really soft, surprisesly soft. what a stupid analysis. the truth that is nobody was expecting anything good here at all. strong return. and the labor report amounted to a soft return when no one was looking, definition of a dooepg. given the three big bad events, it caught the cautious bears traders totally out of position. they weren't doing one of those huddles after every point. i mean, enough with that. okay? enough. what is that? anyway, next up, we get the spike. it was a spike in a place that can't be returned, european stock markets. we're all per tissued by the hard action in the european bomb markets. buyers seem nonexistent except the banks and government safety nets. we've gotten to the point where you could at least wonder if the stock markets over there, the stock market, not the bomb markets, the stock markets aren't thinking something big might be happening on the

horizon. stock markets are prediction machines. they forecast the future. they're not always right. but get a load of this. what are we supposed to think when the german market's up 18% for the year in local currency? germany, 18%, that's crushing us. that's a much better gain than we have here for certain. for a long time we believed germany was the only place of strength in europe. how did we get around the 9% in france in hard to call that an aberration with similar one in sweden. 6% in amsterdam. spain's down 16%. the great depression of spain. italy is barely down at all. around 3%. is that the kind of decline that tells you the world is coming to an end? or is it possible it's the decline that tells you severe recession might be coming to an end? wind the next year? remember, six to nine months is typical time frame for a market to predict things. of course nobody's ready for that sort of positive spin. no more ready though than any volleyball team set for a spike. but they do happen repeatedly, both in volleyball and in the

stock market. which brings me to the dreaded unreturnable kill shot. we're seeing woman's volleyball. women, congratulations to the american team, easy to do. it's much more stark in the stock game. for months now buyers have been hiding in the most defensive stocks they can find. utilities, consumer packaged goods. how could you not with europe and slow employment growth in the u.s.? consider this. maybe the stock market saying europe's getting better, perhaps because the policymakers are speaking in unison, at least for the moment. there may be employment growth in america, might be improving. isn't that what the tight housing market is signaling? influx of buyers, not a lot of sellers? doesn't that mean construction can pick up? owens, corning and caterpillar seem to think so. home depot nor humber liquidators is going to give you a thesis. a pun in employment. isn't that what breakouts in retailers is saying? we were supposed to be in slow-down, that's not what we're

hearing from mailsy's, tj max, gap, rtas. plus think about it, if europe's turning doesn't that explain the sudden resurgence in in jpmorgan? eaton and honey will and cummings, all of which have been hurt by europe, are making stunning comebacks? eaton, 38, 49, now 45. now even tech, which is the most levered in europe of all sectors, is making its move. led by google the most european tech stock out there. 50% of its business seems correctly to be headed to an all-time high. that's why these dinks, spikes and kill shots are all so darned effective. the big mitchell fund head fund caught with their pants down playing total defense. big cash infusion, kimberly clark, went down. verizon. stopped going up. not to mention mcdonald's which is a defensive for the moment failing to defend.

even as i think it should be bull. ralph lauren talks about wholesale double digit declines in europe. only to rebound more than 9 points. closes off just 1.68. makesed you want to buy the f-corps, two other european power-plays, can't wait. bottom line, portfolio managers have been bearish and they've been right. suddenly they seem horribly out of position. and defenseless. against the dink of a better labor market, the spike of an improvement in europe as represented by the stock's market strength, and the unreturnable kill shot delivered to all those hiding in the back playing defensive names just when they needed to be at the net playing aggressive volleyball, getting in a positive frame of mind to be buyers. the teches and retailers, all the money's being made in this, the killer summer rotation that's olympian in its style and its excitement.

let's go to nate in california, please, nate? >> caller: well, jim. i made the one fatal stock market error known to man and i didn't listen to jim cramer's advice. >> what can i say, it happens. >> caller: i called last week asking veriphone systems. owned the stock then, own it now. down 12% today. square came in, scooped up 7,000 locations from starbucks, how much is that going to hurt veriphone? >> huge customer but had a decent quarter. this is probably i think a one-off for veriphone right now. i don't like them in particular, i just don't like it, i don't like that business. however, i will say this. i will say this, if you want the play that was hurt, look at ebay. stock down badly, my travel trust owns it. i got to tell you, pay pat is the preferred way versus mastercard and visa. john in new jersey, john?

>> caller: how when you today? >> all right, how are you? >> caller: good looking son of a gun. what's going on with zinga? >> i lost you. you said something before son of a gun? >> you good looking son of a gun, how you been? >> real good. i wanted to be sure, i thought i might have heard wrong. go ahead. >> caller: zinga, what's going on, i'm down 40%. >> zinga, c.o.o. just left. what can i say? it's play losses with friends. it's like, let's lose money with friends. i don't know. if you want to have social media, if you want to be there, the only one that seems to be doing okay is yelpster. maybe linked inn. these are not my cup of tea. let's go to brian in illinois, please. >> caller: hey, jim. i want to start off by saying go oregon ducks. >> okay. yeah. yeah, right, right, illinois, oregon. yeah, why not? >> caller: i'm a transplant. so, all right.

so i asked you what you thought about dish network, you said you thought directv was a better-run company. looking at the earnings reports today i'm thinking you may have been right. and i was wondering where do you think they're going to go from here if? why is the stop holding in the $30 range today? >> people just love the cash flow. they just love the cash flow of this darn thing. david faber talking about that liberty media, how much money they're making. i like cable. i'm not going to put out any particular recommendation, cable vision, i work for comcast. but boy, cable is really strong, better than dish. jason in massachusetts, jason? >> caller: jim. everybody who reads "the economist" knows russia is joining the world trade organization this month and a dramatic increase in foreign direct investment may result. the ruble's 17% lower the past year, exporting businesses could do well, unemployment at 5.4%. however, any non-small cap

russian etf is composed of over 40% energy stocks. so if the index is not a preferred play on national captain inflows what would be? >> i mean, look. first, let me say, if you're going to lock up like a punk rock band, i don't know. count me out. that seems like a -- if that's the global enemy, i think it's wrong. pepsi's got the best exposure to russia. madonna's there protesting. i don't want to invest in russia, but i will invest in pepsi. as the brilliant women's beach volleyball teams have taught us, it is brutal to be out of position in this market. you know that? we saw the spikes, we saw the dinks, we saw the kill shots. everybody's out of position except for the american women. and that's why this market has been so crazy. stay with cramer. coming up, follow the leader? cramer's going straight to the source. when he talks to the ceos of not one, not two, but three chief

executives on the front lines. first up, after avnet's disappointing quarter is tech in for tepid dwroets? jim's browsing the aisles of their tech supermarket. after experiencing pain earlier in the year, celgene's recovering nicely. cramer gives his pronose. can nordic american tanker right the ship after falling 20% from its highs this year? stay tuned to find out. all coming up on "mad money." sitting on the sidelines because of all the uncertainty in the market? >> thanks for turning my portfolio from mean to green. >> that's what i want to hear. >> with over 25 years of experience in bull and bear markets, let coach cramer show you how to play to win. >> you and your staff are keeping us in the game. >> "mad money" weeknights on cnbc. >> don't miss a second of "mad

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after the terrific run this market's had with the nasdaq over 3,000, maybe it's time for a little reality. specifically i think we need to take the temperature of tech which has been on fire. to do that my favorite thermometer is avnet, avt, electric components, one of the top distributors of information technology hardware. i think of them as the biggest supermarket for tech on earth. the company helps them do this stuff too. i reported this morning and the results weren't pretty. the company delivered earnings, missed off the basis, revenues declining over year, avnet's guidance, i'm calling it mixed. earnings numbers well short of what analysts were looking for.

in response, stock got hammered. has it been punished enough? maybe too severely? what went wrong here and what's it mean for the broader tech sector? avnet's very well run. she talked about a slow-down of orders in june, especially severe in the last two weeks of june. customers pulling in their horns due to weakness in europe. there were bright spots, just canceled out by areas of weakness at least for now. rick is the ceo of avnet. welcome back to "mad money." >> thank you, jim. great to be here. >> kind of took my breath away on the conference call. looking at the june quarter, revenue unexpectedly came in the low end of expectations as we experienced a change in customer sentiment the last two weeks june as high probability opportunities did not close. last two weeks of june? this was like someone slammed the brakes on the world, didn't they? >> jim, i got to tell you, the real story is all about those last two weeks. our april and may dashboards gave no indication of anything outside of expectations we had

said originally on our april com call. what happened was the change in behavior became very evident and affected both our xoeb negligents and our computer business but was most accuse in the computer business. that business does half the revenue in the last month of the your and over half that is in the last two weeks. it's usually a big factor. >> you have got this tremendous stores business but you're highlighting that micro processors could do turn enough it could hurt things. frankly, i didn't know that they could decline that quickly. server and micro processors? >> yeah, the whole pc channel mix of products, jim. micro processors, hard disk drives, memory, it's not a big part of our business. xarl in our computer business in europe, 15% to 20% of the mix. so it's part of the european story that's part of the broader overall story fare our computer business. >> i know that people say, jim, don't even go pollyanna here. but i saw when you were on last, the stock had gotten too high. that's changed.

are you using that cash to go back in the market? >> we are, jim. we were proud of the cash flow for the quarter and for the full fiscal year. $529 million for the fiscal year. we put some of it into the buy-back during fiscal 12 and $3313 million into 11 acquisitions. we maintain discipline and priority and based on the current valuation, we did ask our board to authorize and they did authorize an incremental $250 million off the original $500 million approved last august and will continue to invest when we see a good opportunity to take advantage of the price in our equity. >> i know you wouldn't do that unless you thought the future was better than the recent past. you do talk about a reset and then you talk about normalcies going forward for both businesses. has something changed in august that gives you hope? or is it just that you think, it always comes back? >> i would tell you, it's not only what we've seen this

quarter thus far. the way june closed out we had a .98 book to bill. that's always one of those incredible leading indicators we keep an eye on. watching what happened in july with our computer business as well. we -- we're not calling continued deterioration. in other words, the last two weeks of june really was an anomaly and disruption but it did do a lower reset. remember, normalcies sequentially off a lower number is in itself somewhat conservative if you want to think about that it way. i think what we're trying to say is we've got limited visibility long-term. in the short-term, we don't see further indications of deterioration on what we know today. >> that's why you said december's typically a strong quarter, we're not giving guidance at this particular point but based on normalcy's uptick, in other words, even though you're not giving guidance you're sticking by what has been -- what's occurred in the past? >> that's correct, that's correct. looking at our mix today, looking at our indicators quarter to date thus far, incoming business activities,

anything going on with the reschedules, cancelations, the incoming activity from our vars, what's happening with quotes and proposals, that's consistent with normal -- again, off that lower june number. overall, it may be viewed as conservative, but what we're trying to signal is right now we don't see continues drop-down. >> you also make it very cheer that this was europe, asia was good for you. >> that's correct. relatively strong. the three major regions, asia was relatively strong esfor both our businesses. when you look at this two weeks in june, i mean, this is all that sovereign debt, all that talk again. if you got anything positive in europe, you would expect a very quick snap-back, wouldn't you? >> yeah, we've had in -- particularly with our i.t. business over there, over six quarters in a row of negative year on year. in fact, it started to get better in the december quarter. then march and june were successively worse. we thought it was picking up end of the calendar year, then it came right back down. i think some clarity and some

level of certainty with longer-term conditions over there could be a boost for economic growth for the region. >> i know when your company's in there buying, people should be buying. ceo of avnet, thank you for coming on what was a tough day but i think the future's better than the past, thank you, sir. after the break i'll try to make you more money. coming up, feeling better? questions from regulators caused shares of celgene to catch a cold in june. after strong earnings and raised forecast does the prognosis improve for this pharmaceutical? cramer sits down with the ceo just ahead. jim cramer, looking out for you. >> thank you, sir, for helping us average joes on the road to financial freedom. >> thanks for all you do for us small investors. >> thank you for helping all us home gamers. >> thank you for sharing your knowledge with the everyman. >> i love doing it for you and any time anyone says that i can say, thank you, it's great. >> anywhere, it in, any place.

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something you're born with. and inspires the things you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter. even after this phenomenal run i think safety should play a big role in your investments. doesn't mean you have to behind

behind slow-moving stocks with dividends and not own any growth stocks. you can own growth at a time when economies are growing. you have to be smart about it. truly secular growth stories that won't blow up just because europe is falling apart. the american consumer had bad months in june and july. you want growth names that are disconnected from the global economy. ccelgene. reported terrific quarter less than two weeks ago, growth comes from its fabulous proert folio from anti-cancer drugs and pipeline of new drugs in development, immunized against the economy. the stock got slammed, the company announced it was withdrawing its european filing. its main blood cancer drug, a $3.5 billion franchise. everybody and their brother wrote them off as a loser except for yours truly. i said there are way too many

pipelines to stay down for too long. a monster quarter in july, it's now 71.77, above where it was before the bad european news. that's the power of secular growth in action. let's talk to the chairman, president and ceo, hear more about what's ahead for his company. welcome back. >> thank you so much. >> good to see you. >> great to see you. >> this stock was down, it was amazing. everybody turned. do you think they turned on you because it's really the first time that celgene ever reported any disappointing news under your regime? >> we had a little bit of tough luck but we are having so many good things going on, i think it was an overreaction. now we're moving forward aggressively. we appreciate your support and we're working hard to show everybody that you made the right call. >> thank you. i know what happened is you made the right call. the portfolio is not relevant anymore. talk about some of those. i think people are saying, they might as well call it -- >> 8.5% quarter to quarter

growth. >> spectacular. mile stonens coming up in the next six months alone. three other programs have transformational potential milestones in the next six months. our next homing to blockbuster, new data coming out in december. apremalast, our first phase 3 results out for arthritis, very, very positive results. we're going to have our second pivotal trial. you need two trials tovkt approv approval, that's in the next month or so. big growth potential there, a whole new therapeutic franchise in the inflammatory arthritis area. solid tumors, pan creative lano. great opportunities in the the next six months for milestones. >> withdrew something right after the bell today. like all the illnesses you address, almost every illness you address is a fatal illness.

>> absolutely. very strong phase 2 data. near term, the trial's fully acruised, we're going to see that pivotal data. >> something took my breath away in the conference call, aprevalast, you're calling that a new global they are pupil franchise. you never exaggerate, you never puff. that to me means you're talking about a billion-dollar franchise. >> well, i think it has the potential to be much larger than that, even. we're talking about 7 million patients in core markets that are not adequately treated in sore accuratic arthritis, a terrible disability of the spine. we have phase 3 data, the second one very soon, by the end of the year, psoriasis, get all of the phase 3 data, and we're starting to accrue our phase 3 spondylytis. it's not going to be long before we see all of that data.

a steady flow. this is a market, 7 million patients that really are underserved today. >> and that's why you're using this very big number, $8 billion to $9 billion? >> fortunately for us that's upside. it's not a huge part even of that. we're going to get that in ho hematology, oncology for the most part. long-term growth for us. >> i am fascinated by of bionics, form suit call, a fabulous company. do they have the jump? do you catch them? >> the unfortunate part of high loma is it's not a curable disease. the data is extremely strong. it has very, very strong data. we're going to see new data in december. very strong data. we've submitted the application both in the united states and in europe, so we're certainly very advanced in europe in terms of opportunity. and a lot of these drugs are used in combination. the prospects are very positive.

>> let's talk about that withdrawal of the eu application. a lot of people feel that's the end. these things happen. we saw from biogen a couple of times. we're disappointed and disappointed for newly diagnosed patients in europe, they'll have delayed access to a perfect, great drug for newly diagnosed high loma patients. we've got to make sure we accelerate, that get it resubmitted as soon as possible. it's important to patients, it's a nice growth driver for us also. >> people are talking about it's going to be 2013 sometime? >> i think by the end of the year, we'll have more clarity on the timing of that. >> you're building a lot of cash, $2.5 billion in cash. obviously you have the faith, you baug the stock when the stock got hammered. that's too much cash versus what you can do with it, isn't it? >> we've been aggressively buying stock back at the right times to make sure we manage -- >> at the right times. not just every day. >> i think you have to be prudent to balance and do things -- you can really leverage that balance sheet.

have the right capital structure. we've got a great financial team. i think we're making good decisions in that area. >> the last thing i want to ask is that, how do we get -- there's got to be a celgene calendar. i've never seen one company have this many in the next six months. what's the data point? october, the fda data point? >> i think we're going to have our second psoriatic pivot for that. broaden the label as you said to small cell lung cancer. the cancer more people die of than any other. jim, we're investing for the future. 2015 and beyond. i think in the next year you're going to see that next generation of therapies we're developing really get visibility. it's not just a short-term story. we're very positive about the momentum we have. we're looking for the long-term too. >> i totally agree.

bob ehugin. when there's this much in the pipe don't just boot it because one thing didn't work out right now. stay with celgene, stay with cramer. coming up, are you ready to get charged up? cramer cranks up the votage and goes in on an all new hyperactive "lightning round." later, righting the ship? slowing growth left the tanker in high waters. can this boat finally get the wind back in its sails? cramer finds out when he talks to the ceo. all coming up on "mad money." spectacular moves. winning strategies. jim cramer does it all the time on "mad money." watch jim on cnbc at 11:00 p.m. eastern and during the olympics you can also catch jim at 6:00 p.m. eastern on cnbc world.

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it is time! "lightning round." buy, buy, buy, sell, sell, sell. i play this sound then the lightning round is over. are you ready? it's time for the "lightning round." chris in texas. chris? >> caller: hey, jim. can i get a big triple boo-yah,

please? >> boo-yah boo-yah boo-yah, like tora tora tora. what's up? >> parker hannison. i got in around 68, today i took 20% off. and listen to the conference call, watched the company, sounded really good. they finally hit that 15% growth margin they were aiming for in a down economy. the technicals though are a little bit confusing. seems like recently we've hit the 200 moving average is going to be your resistance, the 20 day is going to be your -- >> i like the technicals, i don't think they're that bad. i like the stock very much. here's the thing. you took off 20%, i would have told you to do that, now you can let it run. let it run, see if it breaks out to its $91 high. cut the position in half again, then let the rest run. you've got a winner, they had a really nice quarter. aerospace. neil in california, neil? >> caller: big buy boo-yah,

thanks for taking my call. >> my pleasure. >> caller: i'm thinking about mcdermott international. >> no, come on man. this quarter was okay. you want to play that sector? floor, flr. we were saying floor, best quarter of the group, best by far, big backlog. mike in new jersey, mike? >> caller: buy yaw from bergen county, new jersey. >> local boy, what's up? >> my stock is crv partners. can it sustain a dividend, is it a good stock going forward. >> the dividend has been one that flushed away to the point anyone who says they can sustain it gets it wrong. i like the long-term future of the feed the world of which that is part of it. tony in new jersey again, tony? >> caller: tony of new jersey. >> what's up?

>>. >> caller: thank you for taking my call. i want to ask what do you think about philip morris international? do you think these going to go higher? >> buy, buy, buy! >> it's like johnny walker and marlboro are taking over the world. and i'm a buyer. let's go to mel in florida. mel? >> caller: jimmy, how are you, buddy? boo-yah, baby. >> hey, sunshine, what's up? >> caller: i haven't heard you mention herbal life in a long time, do you still like isn't it. >> i was bulled they paid that guy out. i didn't know that, i found out later, it wasn't -- they paid him after. you never, ever, ever, when a guy lies about you and besmirches you, do you ever pay that guy off. that soured me on herbal life. and anyone who knows me personally knows that is not what you do. you go after them with everything you have. and never relent. let's go to jerry in texas, please, jerry? >> caller: hey, jim. thanks for all you do for us and

a new york giant boo-yah from ft. worth, texas. bot, should i buy on a dip? >> do you think i care what you think with that giant stuff in my house? what kind of -- i like potash, i think it's a good stock. that was so painful. what is he going to do? he's in texas. if he had said the cowboys i would have hated him anyway. richard ka, please. >> caller: big 49er boo-yah to you, jim. >> a david akers boo-yah to you, greatest ever to play the position. what's up? >> my friend jacobs is with us now. >> no free lunch with that guy. >> caller: okay. love you, man. >> thank you. same. >> caller: marriott international. buy, sell? >> didn't like the quarter. win if i want to be with that group, that's the stock i need to be in.

marilyn from indiana. >> caller: great big welcome from indiana. intuitive surgical. >> i thought that quarter was group. that whole group, they're all going down. i'm not backing away. chad in the sunshine state of florida. >> caller: how are you doing, jim? a southwest florida boo-yah coming at you. >> boo-yah back at you. >> caller: 7.7% dividend for boardwalk pipelines pwp. >> i think that distribution is safe and i want to own it myself. >> buy, buy, buy! >> let's go to ron in new york, ron? >> caller: i've been on hold so long i thought they were going to release next quarter's earnings. newcastle investments. heavy insider buying, big dividend -- >> i know. we looked at this when real estate investment trusts that we actually believe in, i think the buyers proved to be right. darrell in sweet home, alabama. darrell? >> caller: boo-yah, jim. how are you, sir? >> not bad, how about you? >> caller: pretty good, pretty

good. my stock is oke. >> that thing has been on fire. still got a 3% yield. probably best in show grower. >> buy, buy, buy! >> i like it. and that, ladies and gentlemen -- dean goods, two thumbs up. that, ladies and gentlemen, is the conclusion of the "lightning round." >> the "lightning round" sponsored by td ameritrade. and hurtle us all into space. which would render retirement planning unnecessary. but say the sun rises on december 22nd, and you still need to retire. td ameritrade's investment consultants can help you build a plan that fits your life. we'll even throw in up to $600 when you open a new account or roll over an old 401(k). so who's in control now, mayans? a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms.

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as nordic american tankers, our favorite tanker company here on "mad money," bottomed, the tanker has been wrecked for ages. something that has little to do with supply and demand for oil and a lot to do with the huge oversupply of ships. before the great recession these companies ordered tons of tankers and shipbuilding isn't a nimble industry. for years the tanker plays have been crushed by this tanker glut. nordic american has been the strongest tanker operator out there. 9.6% yield. for the last couple of years its stock has been crushed along with the rest of the industry. two years agot stock was a $30 stock, now $12 and change. yesterday morning that better than expected quarter, the stock jumped 7% in a single session. more than an anticipated loss,

the spot rates its tankers learned were higher than anticipated, expenses were low. is the time right to buy nordic american tankers? on the one hand, the best balance sheet in the industry. it can use the weakness to buy up new ships for extremely cheap prices. on the other hand, that might still just be the best house in a real bad neighborhood. so bad some analysts worry the company might have to take on additional debt nard to maintain its dividend if things turn around. we don't like it when companies borrow money to finance its dividend payment. so which is it? we check in with the founder, chairman and ceo of nordic american tankers. find out more about the quarter and where his company is headed. welcome back to "mad money." >> thank you, jim, it's a pleasure to be with you. >> you've on then said, this is a business that could change very quickly and unexpectedly. i like this quarter, it seemed like things are looking up. but can we call a bottom after this number? >> i believe so.

essentially, from this platform, we have two ways to go. that is, to go sideways. that is, to operate in a weak market for a long time. and the other way is to go up. and in my judgment, there are a lot of factors here which indicate that we may go upwards. whether it will be the next weeks or months is a different story. but definitely nordic american is a very good bet at this time. we have paid dividends for 60 quarters and it's not right that we borrow money to pay dividends. as you know, we have cash on hand and we have a very strong balance sheet. i'm addressing you today from washington where i have visited my friends exxonmobil, one of the best companies in the world, with whom i had a big, big contract. >> all right. there's a couple of ways that you could make that money. one is that the number of new tankers coming in finally dies down, or the second is the world

trade picks up. is it a combination of both that makes you so oft mystic? >> i believe so. it is a question of the world trade. that's the basic question in the world economy that i'm optimistic. there are problems at this time. some problems in your country. much more serious problems in europe. but we must remember that the far east and the emerging countries are showing a strong performance. and oil will be consumed and oil will be transported. and we are -- have a strong focus on operating in all parts of the world. and the dynamics of this industry are very strong. we now see increased scrapping. and again, whilst you know it was a weak market in the second quarter as well, i am very confident about this company.

and when the market comes back, our dividend will of course be much higher than the 30 cents we pay now. and the shareholders, they love the dividend. the only people who don't understand this are some, i say some, one or two or three, analysts, body on wall street and in norway, they don't have a clue what's going on. >> tk shipping about 15 minutes ago decided it was going to cut 16 to 11. that's a decent operator. are they one of the companies you're saying, listen, they're strapped and we're not? >> no. tk, it's a good group, in my judgment. but of course, they have much more leverage than we have. we are essentially debt-free. we have a net debt of $5 million per ship, which is very low. the lowest in the industry. and you said it very correctly in a popular way, that we are

the business house in what could be described as a bad environment, you know? td is a different company. i wouldn't submit one negative word about td. >> is there any chance we are in some sort of decline that's not cyclical? in other words, so many ships came out that it could be multiple years before we decide, before scrappage really plays a role in supply and demand, multiple years before we see a resurgence in world trade that would make it so day rates, which are very low, have to go higher? >> i don't think so because the world stage has changed very much since i entered the energy business in 1974 at that time, we were behind protectionistic walls. we are about 7 billion people on earth. they all wish to become more

wealthy. and we have luckily enough globalization. which is driving progress and which is creating a good future in the coming years. i cannot really see that we shall be down for multiple years. i really cannot see that. if you ask the same question 25 to 30 years ago, i might possibly have responded differently. but at this time, the dynamic world economy will bring us from out of this predicament. >> all right, excellent. chairman and ceo of nordic american tanker coming from washington where he's talking to exxonmobil, big client. thank you so much, sir, for coming on the show. >> thank you for inviting me, jim, have a good day.

let cramer be your guide. your sounding board. >> i'm having a hard time with my favorite stock. >> i know you can beat these professionals. and your coach on the road to financial independence. "mad money." weeknights on cnbc. this is $100,000. we asked total strangers to watch it for us. thank you so much, i appreciate it, i'll be right back. they didn't take a dime.

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i never thought i'd say this because it's always been

considered fatuous, especially by me. we could use some darn stock splits. are we the first person to tell you splits don't change anything objectively? they can make a difference subjectively in the eye of the beholder. take price line today which was down 117 points. >> no, no, no! >> a total implosion. one of the nastiest quarters. the word deterioration pretty much defines the darn conference call. i could not believe how weak europe had gotten. at the same time, there are plenty of good parts of the quarter overshadowed by priceline's stunning deceleration in bookings. it reported not that long ago it took your breath away. that stock shed 100 points in a heartbeat. the slow-down in same-store sales growth, 12% going baun to 8%, that's simplistic and somewhat misleading. certainly shocked people. as did the statements from management there's economic sensitivity sneak nerving chipotle's business.

i can't sugarcoat either of these two disappointments. priceline pretty much told you to sell the stock if you think europe's not coming back. i got so used to chipotle beating numbers it was a comedown for what had been an immortal stock. the valuation seemed ridiculous in retrospect. unless you considered estimates had proven way too low, until now. both companies told you recent post-quarter end numbers were no better than the quarters just reported. they've issued stocks which for their whole beautiful runs. i can't blame them. and i understand the reluctance. splits are cosmetic, they mean nothing. you're just getting several pieces of paper instead of one piece of paper. i get that. still, 100-point declines are stunning to people, making them think the asset class of stocks is more dangerous than they thought. rightly or wrongly, people look at these declines the same way they look at the flash crash. they think stocks are too darn risky to other than because they

can go down 100 points. imagine, if chipotle and price line had split 10-1, these stocked would have been hammered, down the same amount, of course. each stock would have fallen 10 points. 10-point loss? considered manageable. they can handle declines. might even think of them as buying opportunities. instead these declines are clarion calls that say, no home gamer should invest in anything, anything that declined by 100 points. even if it's right that the stock should be punished for these misses. i always told people to divide high dollar stocks by 10. you keep your head clear during declines. i think that long division strategy is falling on deaf ears. the high dollar amount prices are hurting these stocks individually and the entire market's psyche completely and collectively. ceos, if your stocks are north of 100 bucks, put the whole things. you'll attract investors. something you're always telling me you want and something that will be terrific now. crazy as it seems.

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