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starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. just two aleve can keep pain away all day. ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. >> i am jim cramer. welcome to my world.

>> you need to get in the game. >> firms are going to go out of business and he is nuts. they're nuts. they know nothing. >> i always like to say there is a bull market somewhere and i promise -- >> "mad money", you can't afford to miss it. >> hey, i am cramer. welcome to "mad money". welcome to cramerica. other people want to make friends, i try to make you money. my job is not just to entertain but to teach, educate and coach. call me at 1-800-743-cnbc. you keep your eye on italy. i will keep my eye on the united states. you focus on the italian elections. i'll focus on our financial stability. you fret with the leaning power of pisa and me, i am crowing about home depot. averages rallied beautifully, dow surging 115 points, the

nasdaq advancing .43%, apple up. let me say from the outset, i am not going to ignore the crazy italian elections, where the comedians and egotists that combine to put that country into a world of chaos and a house of pain. i don't want to be dragged in but the stocks over there could be almost 5% crushing in italy last night. we can't dismiss the instability. we have to remember how much europe hurt us as recently as a year ago. excuse me if i put italy in perspective. you bet that their politicians are dysfunctional over there, infantile even. when i say politicians are clowns the italians take me literally. the days when the economy can drag us down to the so-called interconnected nature of our banks and theirs, i am pronouncing them over. we are now an unparalleled universe and italy has no financial game plan for the foreseeable future and has become the antithesis of the entire european establishment. soap opera just begun. we know how it ends.

badly. we may scoff at our own dysfunctional government. it makes congress look like congress in "lincoln". we have a solid financial system headed by bernanke. he is busy trying to get unemployment down without igniting inflation which by the way, how about when he said at one point i am the best on inflation since post war. i want to high five you. in ben we trust even if italy where the trains used to run on time, and let's cut to the chase. all eyes seem on the country with the leaning tower of pisa and may i direct your attention to a more important structure, the big orange sign, home depot that reported today and screams, look at me, look what i am doing, what i am saying.

here is where you should invest. here is what you should focus on, domestic security. rome wasn't built in a day. it was pretty much annihilated in 48 hours. home depot reported what may be the single best earnings report we have seen in 2013. found out we have the best new single -- it was a real housing day. found out we had the best new single-family home sales in january by the most in two decades and learned from case schiller, the equivalent of the dow jones home index, leaped in 19 out of 20 regions in the country with many areas showing a gain of 5%. all of this pales in comparison to what home depot told us in terms of takeaways that can make us money. i can google that fed reserve stuff and the elizabeth warren and you know what this show is about? ka-chink, ka-chink. first home depot gave itself incredibly good news, 7% same-store sales gains. many were looking for about half that. 34% increase in already hefty

dividend, $17 billion stock buyback. they nailed sandy, having all the right products in the right store placement to help rebuild and the rebuilding has only just begun. it is what they sold and what is selling well that tells you how things are really going at home depot and in the country. get a listen to this sentence talking about where the company made its money from the ceo, the departments that outperformed the average comp for the fourth quarter were tools, lumber, electrical, outdoor, garden, lighting, indoor, decor, and then, end quote, but others that performed positively he mentioned i quote again flooring, kitchen, bath, plumbing, hardware, paint, millwork, holy cow, that's incredible. i have never heard so many categories be that strong since

i followed despot, since 1988 when i visited the one in elmont, ny, first one in the area. what is driving the strength? he laid it out perfectly asked that question. what are the real drivers here? i quote again. there is additional household formation, additional housing price appreciation, existing housing turnover improving and credit availability still a brake on recovery and we see a lot of positive signs there end quote. the bears have been saying that this is already about as good as it gets, the housing, i don't know, like in the ninth inning and two outs and nobody on. blank makes the point we're nowhere near a full recovery in housing. we need a further increase in household formation and people still holding back on having children and moving out of the in-laws. we don't have anywhere near the increase he is expecting and credit availability is still way too tight. meaning who is selling to those home builders? what's the point of doing that? in other words, you ain't seen

nothing yet. this from a man who called the housing market perfectly. and they may not like the way the home builders called the market. no one is quibbling. what does all of this mean for the despot and us? first of all, a key position in my charitable trust and ran up $3 and change today and you know me. i don't like chasing. i am not going to say, look, buy home depot tomorrow. if it came back i am going to say buy home depot. the stocks in the companies all of those categories. some doing well but they pulled back. why don't we put stock in categories? first tools, that's stanley black and decker, down a quick five from the high. they do have european exposure and and that freaks people out. how about charitable trust holding weyerhaeuser? wi is the larger timber company in the country and we know timber is strong from home depot and they're a huge home builder

with a stock falling 12%. electrical, don't have to puzzle too long. that's eaton, etn, especially since it closed on the cooper deal, america's most important company. no real take away in garden because the miracle-gro is in the penalty box because of the history of horrendous misses that put me in the penalty box for liking them, kitchen and bath, those are the plays plain and simple. masco gapped up and now pulled back to a fantastic level to buy given the worries about housing. fortune brands hasn't pulled back that much and the moen product got a separate callout. i think that can go back to its high. let's not forget whirlpool. no offense to home depot, but when you have flooring and millwork being called out, excuse me, i have to push you in the direction of lumber liquidators. someone actually put two and two

together before this because the stock was up three smackers. still down 10% from the high. remember we had them on air? i like those guys. hope the stock comes in for a better chance to buy. just like home depot. not going to chase, but if they come in, you know what to do. i know how hard it is out there. you have all sorts of cross current going on and the sequester and the end of the payroll tax holiday and let's face it, we should be taking our cue from home depot, not any of these ethereal angst zeitgeist issues, and when in doubt go with numbers backed up with cold hard cash like the number from home depot. the italians may be throwing 100 billion euros into a fountain and over in the united states home depot is cleaning money. nobody is saying wait a second, can't have it, that is being made because bernanke is keeping rates low. doesn't count. the money home depot is making does count and the money you can make by falling into the company doesn't come with an asterisk.

your bank takes it. you take a vacation with it. put your kids through school with it and retire on it all because you didn't obsess over the leaning tower of pisa or our nation's capital, and instead focus on the best way to make money, investing in the housing cycle of the united states of america and the great people at home depot. how about royal in pennsylvania? >> caller: jim, hello from the philadelphia eagles and phillies and flyers. >> i like chip kelly. i think it is time for some of those older defensive backs to go. go ahead. what's up. >> caller: unlike the mediocre performance of some of those sports i have been really enjoying watching some of the retail companies here in philadelphia. one in particular, five below, i got in at $34 about a month ago and it's trading above $39 today i am wondering whether this is

something to stay in or take my profits and go? >> i like five below and i like the philadelphians and i met the management and done it for many years. we pushed it hard when it came public and after it came public and when they did the secondary. i cannot push you hard at 39. it is up a little too much. weakness, i know. i tell you the number, no, want more weakness, i'm not italian politician. home is where the heart is. in this case it is where you can find profits. don't waste your focus on italy. let others do that. i say when others are fretting, why don't we try to make money? >> coming up, black gold? carrizo oil and gas announced record production numbers last night and wall street responded by sending the numbers skyward. as the energy renaissance heats up, should you fill your tank with carrizo? find out in cramer's exclusive just ahead, and later, bargain shopper, the next market dive doesn't have to pull down your mood as long as you think of it as a sale. tonight cramer taps the

technicals to find potential names for your shopping list when he goes off the charts. plus, wonder drug? immunogen is on the front lines in the fight against cancer, the tumor targeting technology that just received fda approval. could a pipeline full of other drugs keep you in tip top shape? find out when cramer talks to its ceo all coming up on "mad money".

some stocks don't get the respect they deserve in the market. in this i have to believe they will be rewarded with higher valuations or else some other company will recognize the value and buy the whole darn thing.

take this small independent exploration production company that moved towards more oil. this year they're drilling like crazy. eagle ford shale and the niobrara and they get 80% of revenue from oil yet they have not been rewarded by the stock market. down more than 20% since the last time we spoke with the ceo in march of 2012. they have been hit with three big downgrades since november. they fret about the debt load and how it will fund the drilling program and last time we found out how unhelpful the worrying has been. they knocked it out of the park. the revenues came in better than expected, rising an astounding 92.7% year-over-year. as their oil proof reserves were up 58% from a year ago, the oil production is nearly tripled over the last year, up 190%.

as the stock popped, $1.29 or 6%. i don't understand how this company can stay independent. if the stock stays down, talk to chip johnson, the ceo of crzo oil and gas. welcome back to "mad money." >> thank you, jim. glad to be here. >> chip, you've got a present value here of $1.4 billion for the company and the company is valued currently at $900 million. how do you get that value brought out to shareholders? it is the biggest disparity i know in the oil patch. >> the proved reserves are worth $1.4 billion with the unproved reserves which are mostly in the eagle ford and we think all will become proved. the number is more like $3.6 billion, so over time we'll be able to prove up those reserves, keep growing production. we just have to manage our cap ex and hit on our numbers and i think people will start to give us credit for it. >> a lot of the companies in your field said they were going to move from natural gas to oil, and they haven't had the success. what made it so you guys have

been rapidly able to switch the mix faster than everybody else other than maybe eog? >> i think we were looking in some of those areas that turned out to be very oily and we were hesitant to get in them and saw early result from other companies and because we already had done the land work and were familiar with those areas, we were able to tie up enormous amounts of acreage very quickly and start drilling. >> i want to ask you, where does your oil go? we have been trying to solve this conundrum. a lot of people have been e-mailing, writing saying we have all of this crude and i am paying the most i have ever paid at the pump. can't they make a lot of money and also i pay less at the pump? can you describe what happens after the oil leaves your well? >> at the eagle ford we sell the oil at the edge of our lease to a trucking company, and there are several of those that are very big, owned by people like conoco. they haul the oil somewhere by truck or train or barge and get it to a refinery in the gulf

coast where we get essentially brent prices because that's what those refineries are competing for. our average realized price right now is about $13 above nymex, and that's great for our margins, and then that oil fortunately for the refiners, a lot of that is being made into diesel and sold to latin america, and that's where the big profit margins are right now, more so than just gasoline into the u.s. >> when i tell people how profitable you are, what i am looking at is the actual cost of what it takes for you to get it out of the well versus what you sell it and it is one of the biggest differentials i have ever seen. tell the people how much you are making per barrel. >> we can lease and drill the wells for about $20 to $22 per barre,l and then it costs about $8 a barrel in operating costs. there are several taxes that go into that and that probably adds up to $2 a barrel and you're up to $30 and we're selling it for $100.

our margins are about $75 a barrel in the eagle ford. >> i know the analysts were all kind of concerned about your funding gap. this quarter seems to put to rest a lot of concerns i think about how stretched the balance sheet is. >> what we have done is this will be the third quarter where we have cut our cap ex down to a more sustainable level. we're still drilling and spending more than our cash flow, but we're not that far above it now, and we have an answer for how we'll fund that. we just feel like if we're drilling wells that have 80% rate of return and our debt is mostly in long life bonds, at 7.5%, that is a pretty good model, and we can hedge our oil. we're 95% hedged this year at prices above $90. >> chip, the other day chesapeake sold some assets that were valued at -- turned out to be far less, a sinopec transaction, not where you are, far less than what people

thought they were worth. have the prices come down for what foreign companies are willing to pay or do you think the chesapeake was a one off situation and if you wanted to go sell a stake in eagle ford you could sell it for a lot of money? >> i think those mississippi lime assets were not as valuable as the hype that was in the market. nearly everybody has been looking at those assets for some time and they have very high operating costs, but with enough scale they can make a lot of money. we stayed away from that, but i think sinopec is very smart in how they analyze these deals. with very done two deals with indian companies and one with a chinese company in the last six months and they're very technically capable. they have their own price, cost of capital and on the technical side they're as sharp as anybody. i think that was probably a very accurate price. i think the market hyped it up ahead of time. right now there are several deals in the market like that, that are advertised as billion-dollar deals and probably will end up being $500

million deals. >> congratulations on the quarter. i think puts to rest a lot of the different questions and starts to bring out the value which we know is far more substantial than the price of the current stock. thank you to chip johnson, ceo of carizzo oil and gas. good to see you, sir. >> thank you, jim. >> we're looking for this disparity. we saw it with barry petroleum and a bunch of smaller stocks and with copono. carizzo is like that. he is bringing out a lot of value. in the interim i think you let the stock run. we'll go above where we had him on the last time. stock is crzo, carrizo oil and gas. stay with cramer. >> bargain shopper? the next market dive doesn't have to pull down your mood as long as you think of it as a sale. tonight cramer taps the technicals to help find potential names for your shopping list when he goes off the charts.

we go to it every tuesday. we had the worst day of the last few months yesterday. worst day. this market has been getting slapped around for a week now. does it mean you should panic or accept the fact sometimes we get hit with corrections and the garden variety pullbacks. perhaps use that weakness as an opportunity to buy certain high quality stocks and lighten up. there is always a better time to

sell than into the vortex of pain. that's where i stand on the issue. today makes the point again. i know many of are you still afraid. when the market gets crushed like it has over the few days, it is scary. if you're full of fear, it is not going to go away because i told you panic is not a strategy. the only way to conquer the fear is with cold, hard logic. we're going off the charts to tell you how this is creating opportunities galore with the help of carolyn boroden, who runs fibonacciqueen.com and also my colleague at thestreet.com. in our hour of need we're turning to the queen because she nailed this market nine ways to sunday. it is kind of freaky. her track record speaks for itself, herself, itself. boroden called the top s&p 500 within 10 points of where it peaked and last november when it was pummelled in the wake of the election everyone was scared. boroden went positive. everybody else was freaking out. she went bullish on this show

and told us it would sit 1510. a level the index blew through. boroden got it right because at a moment when so many others let the emotions make it, she relied on her method, which is mathematical. now that this market has taken a dive, what does her method tell her now? take a quick look before we get into the weeds with stocks. take a look at the s&p 500 chart. her work is based on a series of ratios discovered by the medieval italian mathematician leonardo fibonacci. we talked about this before, the guy that discovered the key series of ratios in nature that repeat over and over again. they also repeat in the stock market. we were skeptical but the work is too rigorous to ignore. she looks at prior swings in a given security and applies the fibonacci ratios to the swings

in order to find key levels for a given stock. here is what's relevant now. boroden says in an up trending market and it is still up trending you will see pullbacks. here is the important thing. they will bottom out at levels that represent retracements or projections of prior rally swings and in the meantime they move higher and temporarily terminate extensions of prior swings and an extension is when a stock repeats an entire move and keeps going higher. basically it is a retracement that ends up being bigger than the swing it's retracing. for example, we saw this happen back when the s&p 500 pulled back created by a cluster of fibonacci retracements like boroden is talking about. she nailed that level. then the index rallied for a month into september when it peaked at 1.272, extension of a previous swing. that by the way is how boroden was able to call the top here in september. it was a textbook move out of her playbook. more recently the s&p broke out

above the minimum target of 1510 and once again we're seeing a healthy correction. same thing happened over the summer and it happened in september and we came back and boroden thinks we will be able to come back this time as well as long as it stays above the november lows. remember, she called this. she called this. she called this. she called this. which in many ways was the toughest of all because everyone was freaking out. now that we're experiencing the correction many were calling for, use the decline as an opportunity to pick up top notch stocks at bargain basement prices. use the methodology to show you when to buy. i thought it was a good idea for the show and she has a number of stocks she likes on a technical basis. here is the big three. you know them. amazon. michael kors. yeah, the handbag company. and schlumberger, the oil service company. it is better than dumping

everything into the teeth of a sell off because someone doesn't feel good. first check out amazon's daily chart. huh. back in january amazon net a major 1.27 -- remember that extension, 1.272 fibonacci extension, and surpassed it slightly. remember, these extensions typically give boroden targets where a stock will top out at least in the near term and since then amazon has been on the decline, not a big decline but a decline. where does the stock become buyable? there are two key zones created by the clusters of the fibonacci relationships. boroden thinks amazon can find support between 243 and 245, 14.6 points below where it is now. there is another zone of support, 236 to 239. if amazon gets down there you want to hold and only then start buying. it is a terrific call. it is amazon from a fundamental

basis, i think that's a good call to get in. how about this one? this is my favorite. michael kors. this is a luxury handbag stock i alluded to in the newly created gatsby index yesterday, not the tom joad index, the gatsby index. take a gander at this chart. kors has been pulling back ever since they came within a point of a key price extension level. that's where she said it would fail. she sees three zones where it could turn things around. there is a thin floor running from 57/58 to 57.87 although kors pulled back below that area today before rebounding in the afternoon. below there there is a second floor of support. i am sorry, 49.52 to 51. how do you know which is right? you wait for the market to tell you. if the level is going to hold, kors will test and reverse higher.

based on the work, michael kors can have 1 to 9 points which is why we always buy slowly while it is on its way down. our work is different. it says that the company is on fire. i am a fundamentalist, not a technician. given that the stock has come down hard since the amazing quarter i think the time to get started buying this one is right now and i am saying that this fibonacci level was the short-term bottom when the stock is ready to go higher. i think what we saw was the successful test. i am just a fundamentalist. take a look at the chart of schlumberger. of course the stock peaks and then pulls back hard. there is a zone of support from 72.64 to 74.80 and if that doesn't hold a second chance to $70.38. this one is tougher.

we decided to take profit for my charitable trust over the last few days and you can follow that along with that precisely because we think oil weakness is so profound the stock can go back to this level and will get right back in there, no need for a charitable trust to take that pain. yeah. i think that's where it was when the quarter disciplined last. no stock can keep going up forever. when we do get a correction, the trick is not to panic. i keep telling you that. lock down your emotions and approach things from a cold, logical perspective. that's why i like her chart work so much. she gives you mathematically based levels to start buying high quality stocks like amazon, michael kors and schlumberger on the way down, and frankly isn't that a lot better than being emotionally and panicky selling into the vortex, the maw of the decline? let's go to saul in new york, please. >> caller: hi, jim. >> hey, saul. >> caller: i was just wondering what you thought about the gap, an 11% drop in the past three months and is it a good entry

point? >> we have said that this is a good entry point. now, i frankly am mystified. the fundamentals are good here. i am putting this out because i think that when i see this, i get nervous. i said that this stock should bottom here and then go higher and what's happens is bottomed and hasn't gone higher. i am sticking by gap because the fundamentals are good. technically i am not sure but the fundamentals are great here. joseph in california. >> caller: how are you doing? >> how are you? >> caller: i am doing good. i am 22 years old, new at investing, and i have a question about yahoo!. there is a new home page for yahoo! and work from home and if it is a buy now stock, if you can help me out with that. >> i think marissa mayer is making amazing changes, frankly. i know it sounds glib but i have done a lot of things with yahoo! over the years and i think they're finally getting it together in a way i think could be long-lasting.

i am a buyer of yahoo! here because of what she is instilling, a new culture where people don't just come and go and constantly have turnover. that's the change that's needed. panicking is never the answer, people. corrections happen. when they do, you got to approach it with logic. boroden's charts show opportunities is the way down. amazon, kors, schlumberger. i like amazon and kors.

it is time for the lightning round. rapid fire calls. buy, buy, buy, sell, sell, sell. play to this sound and the lightning round is over. are you ready? lightning round. tyler in west virginia. >> caller: hey, jim. what's happening, hold, sell or buy more? >> i like that situation. remember, it is the best performing bank stock of the era, so probably giving up a little on the profit taking there but i think it is absolutely terrific and it is about 10% from the high. i like that. buy, buy, buy.

i'm going to lois in florida. lois. >> caller: boo-yah, jim. >> boo-yah. >> >> caller: royal dutch shell. >> you know what, a lot think it is a second rate company. it is down a lot and they think i am a buyer, royal dutch. joey in maryland, joey. >> boo-yah to you. >> what's up, partner? >> like to give a shout out to my financial instructor, kirk marts. >> absolutely. go ahead. >> what's your opinion on mcdonald's? >> writing off in the mid-80s and downgrading left and right and i said it is buy, buy, buy. why? wow. because don thompson, the ceo is doing a miraculous job and putting technology to work and i talk about this a lot. i think mcdonald's is a buy. i buy some here and go back to '93.

it is the the hottest stock within this particular environment other than colgate and clorox. let's go to miguel in puerto rico. miguel. >> booyah, booyah from puerto rico. >> i love that. that new ritz-carlton. it is fabulous. what's going on? >> caller: i am just wondering about alcoa, what do you think about that? >> klaus is doing a miraculous job and in the end it is still a mineral company and the mineral companies are down. i would tell you i think alcoa can wait. i like the company but the stock i think is kind of -- you get the picture or sound. let's go to brady in ohio. brady. >> yeah. i got stock from the new york stock exchange, atlantic power corporation. >> i don't know why people think that yield is not safe. that's what i keep hearing, the yield is not safe. let's do a little yield safe, not safe, edification on my own part and then i will make the decision. don't have to answer now. oh, no, that is it. that is the end of the lightning

round. >> the lightning round is sponsored by t.d. ameritrade.

sometimes stocks don't behave the way you expect they would and you have to look below the surface to figure out what's going on. consider imgn, developing target cancer drugs and seek out and kills tumor cells and leaving the rest of the body mostly unharmed. big step up from chemotherapy or radiation and the platform is so good five of the top ten oncology companies out there license it from then. they approved a breast cancer drug that roche is developing in partnership with immunogen. immunogen stock barely budged and a lot of people surprised by that. aren't they about fda approval? mostly, sure, but this was expected and beyond that the scheme for this drug isn't all that favorable. it is still pretty good.

something that caused it to sell off hard. they have already run up in anticipation of the news. rallied some 20% since we last spoke to the ceo on december 10th and up again nicely today. we like the pipeline because these are drugs that it wholly owns, a small cell lung cancer treatment we should get the trial data on the second half of the year and could be a big deal. a couple of early stage drugs, for lung and ovarian cancer and lymphoma and you have to understand, these are owned outright. they could be very profitable for this $14 stock. despite all these caveats. it is a big deal. more important, it is huge news for breast cancer victims. so let's check in with the ceo of immunogen who has been right about this all the way. more about the drug and the company prospects. welcome back to "mad money." >> good to be here. >> good to see you. when i read the times article like others, just cheer, i know people who have this disease and

they are very hopeful. let me just say first, congratulations, and if people read this, when is it available? what do they need to do? >> roche has indicated they'll have it available within two weeks. it is up to the various physicians offices to be able to get it on the formulary and have it available for their patients. if i can, a quick story, we heard from genentech when it was approved on friday and one investigator contacted them because they had three late stage patients and felt this would be beneficial to them and so genentech went and was able to get the material to them the next day and the investigators opened up the infusion center and kept it open on saturday and was able to address these patients. >> this is the real deal and i know people that said i can't believe that the fda approved it, this is so special, so it is a very big break through. >> it is. >> you even on your own conference call later at the end of the year were not saying, look, this is going to be a huge financial win because of the

royalty arrangement, but at the same time you get european approval later, perhaps, and you begin to see some very big numbers and it is still very meaningful for your balance sheet, right? >> absolutely. this will build over time. this is the first approval, so it is for later stage patients and there is earlier stage programs that are in place right now with roche that will move into adjuvent and second line gastric cancers so this will build overtime. we're excited about the patient side and also about the financial dimensions. it provides an attractive revenue stream to feed some of the other compounds you were referencing that we're developing ourselves. >> it is important, i want people at home to know this, you have been the least hyped, least expansive, very cut-and-dried guy. i think your humility may be exceeded by the actual numbers and that's my take but i think it is right. >> i work with very smart people at immunogen and it is not hard to be humble. >> talk about the breakthroughs.

small potential breakthroughs. imgn 853 for ovarian cancer. you said there is updated clinical data that we might get later this year. >> it is an early stage study, so we're in dose escalation and we think this could be a very important compound. the target is broadly expressed on certain types of ovarian cancer as well as certain non-small cell lung cancer. we have a new linker and we're in a study with an innovative protocol letting us get up to what we think might be therapeutically interesting doses in time to be able to disclose data middle of the year. ovarian cancer like aggressive breast cancer, like small cell lung cancer, not many good options for those patients. that would be extremely exciting. >> for the imgn 901, the small cell lung cancer, you talk in the conference that there are 59 patients and that you encouraged by the rate of recruitment into the study. please explain to people at home, why does it matter you're encouraged by the rate of recruitment?

why is that significant? >> time is money. we need to get the data to understand the potential of the compounds that we deal with. recruitment is a big issue. getting patients in to generate the data and to understand the quality of the therapeutic and is it something that we want to take forward or is it something that we should move on and look at other opportunities, so getting those first 59 patients starts the clock for us to look at them six months forward. >> this is progression free survival you talk about. >> exactly. >> a lot of times when i study yours, as a layman, it is a little harder than if we're just analyzing pfizer. >> okay. yep. >> you have -- there is a conference later this fall where everyone seems to want you to reveal things. is that the kind of protocol of your business that these big conferences, that's when you share the data? >> it really is because you are working with investigators and the work that's being done is very important to them. so you want to be able to

disclose -- involve them to disclose the full scope of the medical data you're generating. because some of these are owned by us on a proprietary basis we can disclose top line data without compromising the information that would otherwise be made available in a medical conference. >> one last question. you have been straight with us the whole way. you have said that you felt very good about the breast cancer drug. what is your same kind of gut feel about the ovarian and the small cell drugs? >> ovarian, i think there are a lot of innovations in ovarian drugs. some of it is technology. some of it is our understanding of how to approach this particular target. i think that could be very exciting. we may get some early insights about its potential. small cell is a big difficult indication. we know that it is tough but there has been no new therapy there for 25 years. so based on what we have seen when we dosed it as mono therapy on its own, and work we did looking at it in combination with existing first line therapy, it was very encouraging, so if we can

prolong life for those patients, that would be a big win. >> terrific. congratulations again on this big win. i hope that everything works out for the rest of the pipeline. that's dan junios president and ceo of immuno-gen, a big winning stock doing life saving medicine. stay with cramer. begins with back pain and a choice. [ male announcer ] this is anna, her long day teaching the perfect swing take advil, and maybe have to take up to four in a day. or take aleve, which can relieve pain all day with just two pills.

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are hedge funds too powerful? there such a thing as hedge fund over activism? a lawyer defending countless companies with the poison pill defense and hostile take overs and i agree this time. the new york "times" notes that with the lawsuit against apple's proxy statement, hedge funds have gone too far in the shareholder democracy initiatives. it is not the first complaint. it sure rings true this time. apple is among the greatest wealth creators of all time. why pick on it by suing for not doing enough for shareholders? that is the real lesson. think about it. apple is up 6,300% over the last decade. 6,300%. isn't there a better target to pick on? i got more than 2,000. i know plenty of people cheering for einhord because of the preferred plan and the stock may go higher. theres nothing written that says

it will propel apple higher. i think, you want it higher? i think a purchase of netflix for $15 billion, nice boost in dividend, take it up to 4%, that would do the trick. we want growth from financials. we want growth from stocks. we don't want financial engineering. einhorn's preferred plan is the essence of financial engineering. i give apple 27 million customers and a leg up on any initiative. my plan is better. it is not just einhorn. what happens when they get so big they can target entire companies? how about the targeting of the argentina government by hedge funds seeking the 2001 default on the sovereign bonds. i am not against constructive activism investment. a company told me on "mad money," hey, listen, we like it. aubrey mcclendon, erwin simon,

they praised carl icahn for his ideas and support. no doubt he played a protective role but at times the desire to make the numbers requires the managers to make outrageous claims and you can argue the current ceo of apple might be goaded to do something and when the company meets with shareholders i hope so and isn't there some benefit of the doubt given the money they have made for people over the years? why can't they accept it for what it is rather than lambaste it as a ne'er-do-well. what's the matter with selling it and admitting you got it right for a long time and failed to sell some at the top? why can't the hedge funds suing argentina realize they take a risk and filed. do you think any hedge fund that does it vocally should be able to crush it in its own right and throw thousands of people out of work? is that a good thing? do we want to annihilate any current shareholders and drive off potential buyers with fierce warnings? i don't like that. i have to admit i am at a loss

why herbalife doesn't sue for interference of business but is it really up to ackman to bring down a company? we're in a new era here. big funds try to make themselves right rather than just accepting the risk and reality. i am not saying they shouldn't be able to do that. i am not saying they represent a threat to the country and shouldn't be allowed to be as big as they are. i am simply questioning the behavior of the managers behind them and the righteous indignation that masks a simple desire to make more money on what turns out to maybe losing positions. i am with lipton. this isn't shareholder democracy. it is hedge fund manager performance anxiety and like lipton, i have had enough. stay with cramer.