>> cerner! >> i'm melissa lee. thank you so much for watching. see you back here at 5:00. meanwhile, don't go anywhere. "mad money" with jim cramer starts right now. . my mission is simple, to make you money. i'm here as to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm trying to save you money. my job is to the to be your friend, my job is to teach you. call me, 1-800-743-cnbc. so out with the new, in with the old t. s&ped a vaned 4.9%.

it's confounding more people than i've seen in some team. even more than the last minute $2 billion buy program at the close of the market. it took it up almost as much as friday's sell program, knocked it down. what do i mean when i say out with the new and in with the old? okay. one of the biggest themes this year has been the maturity of the biotech universe, biotech, regeneron, just shooting the lights out with all sorts of new drugs, but you know that every one of these stocks got hammered today. boeing up 36. biogen up 10 buvenlths regeneron shedding 5.81. these stocks were down much more at one point. it was a brutal session for this group. instead, we saw some eare-invigorated leadership

fromiesteryear bio. merck rallied $1.75. how can this be? what's the culprit here? this weekend, we got some tremendous presentation at the american oncology praumps conference. the show's dealers were some remarkable new anti-cancer drugs from none other than bristol-myers and merck, including firms that may be able to eradicate skin cancer in our lifetime. it's amazing stuff, while the biotechs didn't do anything wrong. it was a true front seat-back seat operation. today the market seemed to like it, they want to return to stocks with lower valuations with lower risk. they worked hard to come up with new stuff that's very effective, so to me what happens is these were the stocks that had the lower risk alternative to the biogens to the gileads to the regenerons, just, well, cheaper. i think the mercks and the

bristols have moved far enough. that's what i felt at the end of the day. once this market likes something, it's awfully difficult for it to change its minds. i wouldn't be surprised if there is another thumping on biotech tomorrow. they pour over companies which we expected to have dividend boosts and heavy buybacks. isn't that what big pharma has become? buying back stock. not today, merck reported the weakest quarter of all, big pharma. right after, it announced a big buyback. it seemed like a foolish use of the money. as we always preach on "mad money," it's not about the current monies. it looks like merck had a good idea of where that future was headed, certainly better than wall street, which universally panned this company. that's another reason merck shareholders have to rethink the negative stance given it has so many new drugs in the pipe. now they have to upgrade it. yeah, tomorrow the analyst, they

eat crow on merck. it's not just in pharma we see a new love affair with the new and old. google is still one more at a $1,000 price target. the stock got hit at $3.59. there was nothing negative. no, nothing, despite a fabulous recommendation of winked in by credit suisse. that stock got hammered. even the red hot yelp. they are up $1.56. facebook as always fell again. yelp has a close relationship with googling. so perhaps this is viewed as defense, defensive move if goggle cuts it's off. by the way, google did buy the competitors, the gap, remember? amazon and netflix were pull verrized. netflix pummelling, again, these were much worse than the big buy

program at the end of the day, instead, it was intelli's day to shine. -- intel's day to shine. yes, they want samsung business for the new tablet that a lot of people to the would go to armed holdings. yes, the intel suddenly got momentum. it's up over 22% per year as it sells for a reasonable price earnings. fe same time, microsoft is going higher again. this time we talk restructure. microsoft is having a remarkable run up 33% for the year. this old dog, if it did, endeed, break up into a fast entertainment games play the latter of which could offer a big dividend, i this i this stock can rally another 20% because it like intel is very cheap historically. again, though, there is nothing wrong with the new tech, nothing at all. moved too much for the moment. amazingly, it isn't tech or biotech. consider mcdonald's. well, the much newer higher

chipotle gave up $2.16. again no news on neither. by the way, gm added to s&p after the heinz. they are cycling back top walmart. so what the heck is happening here? what's going on with the change in leadership? first, there is an overwhelming sense today the higher valuations and no news and rotating into safer stocks in good news, that makes a tonne of sense, technically when managers don't want to give up the gains for the year. why risk the performance they've booked. no. it was an attempt by some manager to go back to the bond market consumer stuff, real estate investment trust, betting those groups which were killed, tipping last friday's session are ready to bounce. nah. i think that's a sucker's bet. if interest rates are going

higher, then you ruiz those groups as bonds become more attractive and the stocks get sold off. it's much better to go with the banks that were hit today and are also historically very expensive. a great rally at the end of the die buy lot of banks. could happen again, you got to take i. you know what, i think if rates go lower, we will see money going into retail, housing, airlines, men rals, mining, trance ports, all of which have been hurt badly here. coca-cola, procter & gamble, they're simply neither here nor there. they aren't cheap on earnings or on yield. when those stocks rally, you should sell them and wait until they come down, perhaps substantially or even if rates do go up a little more, they will finally represent bargains. we want to avoid situations where you pick up a 3% yield but have 10% price risk because of the stock price depreciation and by the way, that was the case of some of these meager yielders last week.

these yields, they're too small to protect the stock. now, the only reason why we're talking about the internal rotation is people gravitate towards cheaper stocks and sell expensive ones when they can't figure out what else to do. managers want to stay in the game. but they want to lose less if the market depth kept going down like last week, even if that means making less if the market goes you up. in other words, today's action was about the mechanics of money management. if you are doing well, wemg, it's june, but it's way too early to sell everything and go into cash and go away the rest of the year. it's way too tomorrow sit in the high yielders. we saw last week how quickly the they can fall apart when their yields aren't high enough. but the low multiple companies with good news, they fit the bill with the multiples loving chicken bowls out there and that's strange the chicken bowl. i know it's a strange look animal. that's what's roaming the stock prairie right now. we got sellers of high risk stocks along with buyers of low

risk stocks and profit-takers and huge winners for the year. they're expensive relative to the growth rate. it's a classic strategy money managers use when they don't want to give up their gains but can't afford to sell in june and go into the hamptops, it doesn't rhyme, but it's what they love to do. they can't get away with it. let's go to bob in kansas, please, bob! yo, bob! you know what, why don't we go to mat in the connecticut, then? matt. >> caller: hey, jim, what's going on? i got a question of national bank of greece, should i ride out the storm, man? >> you probably want to ride out the storm. if you want to buy a down and out bank, i'm going to give you bvba, that's in spain. or you buy the royal bank of scotland, rbs, under $10, oh, man, buy, buy, buy! jim in new york. jim!

>> caller: hey, a boo-yah, what about cannes reporting thursday? conn's. i saw best buy grown-up u upgraded. the stock didn't go up. i would rather ring the register conn's and cycle into other winners and not be in that grucht it's had a nice run. out with the new, in with the oldch we saw the mechanics of money management, the sellers of high risk stock, consumer package goods on the fence, those should be sold, i like some of these higher risk stocks after today, though. "mad money" will be right back. coming up, ships in? shaneer energy was one of the first companies to lay the export of liquid natural gas. does it pay to chick with a pioneer? find out in cramer's exclusive. later, sweet spot? from pharmaceuticals to

fine-tuning the tech and the latest smart phones, cramer spotted a company capitalizing on some strong trends, but it's this company's takeover potential that could have you measuring big return in the stock. plus, high yield break through? innovative new treatments are targeting tumors and changing the landscape in the fight against cancer. tonight, cramer talks with the ceo of biomarin to hear what the results of its latest study may mean for the future, all coming up on "mad money." . look at them kids. [ sigh ]

they have no idea what it was like before u-verse high speed internet. yeah, you couldn't just stream movies to a device like that. one time, i had to wait half a day to watch a movie. you watched movies?! i was lucky if i could watch a show. show?! man, i was happy to see a sneezing panda clip! trevor, have you eaten today? you sound a little grumpy.

[ laughter ] [ male announcer ] connect all your wi-fi-enabled devices with u-verse high speed internet. rethink possible. what am i going to do with all you this new found natural gas in this company, a part of

what i'm calling a natural revolution. we can use the keep energy to fuel a whole new energy for capital plants and industrial facilities. if you want something more straight forward and less pie in the sky, we could sell this stuff overseas where foreigners will pay top dollars because natural gas prices are higher in europe and asia. this idea from people who want to keep this fuel cheap here in the united states, just like last week we heard from dan d'amico, a big steel maker, who told us if the country exports too much fuel it could cause a revolution in this country. you have lng that stand to make a killing. cheniere is the first and only company to build a facility and export to japan, china, india, right now cheniere is building a terminal in louisiana. it's nice to be up and running a couple years from now.

we got to pin that down t. company is awaiting for a second lng near corpus christi and there is a decent chance it could by a involved in the next 12 months. now this stock has given us gigantic gains. it's rallied since i got behind two years ago. that's an epic move. i hop you caught some of i. over the increasing resistance to natural gas exports, where will the stock go now? let's check in with the chairman, ceo and 56ary, find out more about his prospect, welcome back to "mad money." >> thank you. >> you raised another chunk of money to do the third and fourth trains? right? >> yes, last week. >> so what is the time table? in one of these, it sets says 40 months, another 2015-2016. when will we see this natural gas leave our country? >> i am trying to put pressure

on them to perform as well as anywhere in the world. if that's the case, they should in 2015. >> in december of 2015, i will see gigantic ships taking this stuff to europe and every place you made deals with? >> hopefully, they won't be lined up. we move them quickly, yes, in december of 2015, if you come down, we make sure you have a ship waiting for you. >> last week we had dan d'amico on, he is taking plans to build down there. we had, take the chemical companies, they're very much opposed to this what do you say to the companies who say, you know what, if we approve 25 projects, our natural gas is going to go through the roof. we lose our competitive advantage. >> first, it's not all chemical companies. it's a certain select chemical companies. the chemical association is, in

fact, in favor of free trade being free trade, which is consistent. >> it doesn't distinguish commodity. >> off the notion if we believe in free trade, we need to be coherent. some companies don't feel that way. all i have to say they can get the gas keep, anybody that buys gas from us has to pay us $3 and $3 in tlpgs. so you have aen hernt advantage anyhow. >> now, last week,age article in the financial times about some legendary trader, always some legendary trader who says we don't have as much natural gas in this country because the wells are depleting so quickly. >> we are still drilling with 1,750 rates. we are drilling 40,000 wells per year. as longs as that number doesn't change, with the increase is productivity because we keep getting better at what we do.

i say we, not me t. guys that do this. we are going to continue to have a tremendous amount of gas. in fact, a problem because the gas comes now because it is an associated product with the oil. >> right. >> and the condensation st.s and all the other liquids. therefore, it's a byproduct. we are flaring it. >> not using it at all? >> right. >> there is no place to put? >> there is no place to put it. it is a problem in colorado, texas, oklahoma. it's going to be a problem everywhere. >> if i went down to eagleford, i would see those coming, people are hush-hush about the flare? intlits very hard to be hush-hush. all you have to do is look at the satellite picture and see places where you think there is a big city. it's not a big city. it's the flares. >> a flare. now i know that the department of energy has given permission to freeport and the department of energy has given approvals. at the same time, i know you started a long time ago. i know the sierra club seems to

be interested in stopping everybody other than you, why would we think more than two or three of those projects will ever get done? >> i think it's more difficult people think, it's cumbersome, time consuming. it takes money. you are going to spend a lot of time and energy and money before you know if you have a project that works or not. so look at us, we have been at this for three years now. >> right. >> it doesn't come overnight? >> no. >> other people will find the same thing. i think the next two projects will start sometime next year, not this year. >> and they're not anywhere near the ports that you have and, well, no, freeport does, maybe dominion does, those are almost as ideal setup as you have? >> yes. i would say semper is not bad, either. but it's very easy to criticize from the outside. you work a site. nothing comes free. nothing comes easy. you got to look at your site and work it. >> dan d'amico said, listen, we

could have seven times the jobs created if we had natural gas here. >> what's stopping him? knock yourself out. i'm spending $12 billion. knock yourself out. >> are you not bigger than this plant in louisiana that they're trying to build? how many people are working down there right now? >> right now probably a thousand. at peak in four or five or six years, we support the drilling that provides the gas for the plant. there will be another 20 to 30,000 jobs. so this is significant. >> other than keystone, it's probably -- >> i welcome everybody to do the same thing, spend your money. >> that's sharif souki, manager of cheniere energy. thank you so much. >> thank you. >> "mad money" is back after the break.

coming up, sweet spot? cramer spotted a company capitalizing on some strong trends. but it's this company's takeover potential that could have you measuring big returns in the stock. and later, biobreak through in innovative new treatments are targeting tumors and changing the landscape in the fight against cancer. tonight, cramer talks with the ceo of biomarin to hear what the results of its latest study may mean for the future, all coming up on "mad money." .

there are two things we can almost always count on to send a stock soaring higher. takeovers and breakups. hallelujah! >> that's why i'm always recommending potential takeover targets with perspective breakup plays. tonight i want to tell you about a stock that gives you not one, a company begging to be broken up. if that doesn't happen, it's ripe to be taken over. buy, buy, buy! i'm talking about adulent. that's letter a. this is a total cats and dogs company, adulent makes electronic measurements used to test everything from cell phones to everything in the computer food chain to electronicings and all sorts of state of the art

aerospace defense systems. they have designs and chemical analysis. they make mass spectra metres. they have a small diagnostics and genoma's business. isn't that too much under one roof? it is clear that these four division, electronic measurement, life sciences, diagnostics, simply do not belong under the same roof in this tremendous bull market, adulent has been consistently lagging the averages. it seems to me the stock is up nearly 10%. it may not sound too terrible, the s&p is up 14.5% in the same period. in the last 12 months, adulent not better than the s&p which is worth 7% over the last few months, adulent may not be a loser, it's the definition of a lagger. i think they have two ways to catch up to the market and then some. two ways to win that could

produce instantaneous gains at the stroke of a pen. first, there's the breakup angle. adulent's life science chemical analysis and diagnostics division serve much higher valuations right now overall. these higher value divisions are being held back. they're under the same roof of the measurement segment. which is a much more cyclical business dragged down by the global economy. adulent has been trying to fly away from this business. they had an acquisition last year. two years before they bought variant, a maker of scientific instruments for analysis. it turned the company into more of a mish-mash, frankly, may should be breaking itself up. so, if adulent were to split itself into a life sciences diamondback nostic play, i think the stand-alone life sciences

business would take off. conversation this thermofisher is paying four times for the sales of technology. not a whole logic paid 6 times sales for gen pro. if you give ethem the diamondback nostics at the same prays as the thermal fisher is paying for techcologist, you'd have an astounding $14.3 being. adulent's market cap is 16 pound 7 billion. you would be getting the electronic business for free, even though it accounts for half of the company sales. this is a clear cut case where adulent's partial is worth more than the whole. when outfits like that break up, it unlocks a tremendous amount of value for the shareholders. look, it's not an embarrassment, it says, hey, listen, the market doesn't value us. let's help the shareholders. let's say the management doesn't

agree i still feel there is a second what i to win. it's a take joemplt i see one potential acquirer, adulent may not be able to make all of its divisions work and work well together. but danaher the giant conglomerate kouchltd they spent practically all of its free flow, everything they do is right into their wheelhouse, they have a big testament division and diagnostics and environmental group, too, in sport, there is everything they do within danaher, there would be a lot of synergy, we know they want more life science exporesier. they told us that. there is a lot of chatter to buy this back before term mo fisher snapped it up. adulent might be difficult to swallow for danaher. it's possible. if they are willing to consider life science they should be able to buy danaher.

this potential deal could fit their brilliant acquisition style that is is one of the greatest conglom rates of our age, even if you have never heard of it. how much would adulent be on the takeover? remember, assuming the life science diagnostic, they get the same valuations for technologies, that's worth $14.3 billion t. electronic 26 valued similar to its pierce, it could be 3 billion. i could see danaher pay as much as $22.6 billion. that's $65 a share. wow, 43% premium where the stock is trading right now. it makes sense? it does. and look, you know, i never recommend a company for takeover speculation unless the fundamentals are improving even without a breakup or a takeover bid and adulent is starting to get its act together. i don't know e i don't think there is that much downside the division should get a boost as we return to world wide growth.

hey, listen, it's supposed to happen in the second half, adulen is the getting aggressive about cost cutting. the company reported may 14th, adulent reported a 10% earnings. this is a good company. even as management lowered the guidance for the full year. the taken said they would lay off 450 people, roughly 2.5% of the work force. i think they can cut their cost to greater profitability. that's a meaningful buyback, equivalent to 6.5% of the market again. here's the bottom line. we like perspective takeover targets. you know adulen is the both. it gives you two ways to win. while you wait the company is working hard to turn itself around. hence i think this lagger is worth buying here as the downsize is minimal the upside, it's beautiful! . hallelujah! market alabama, mark in alabama. >> caller: hey, big jim, houn are you doing?

boo-yah from alabama. i have a question about the tech stock. >> all right. >> infinela. it's a digital optical play. i have seen so much money lost in these. i'm not kidding, they got to do more work on i. i am not going to see ascena, i have see what sienna says and do homework before we opine on this company. peter in florida! >> caller: jim, i spoke to you a few months ago concern iing cer. if you had 6 trillion in contractual backlog, the tight ratio is good. at 98, i see it going to 120 and

possibly splitting again with the same management it has had in the future. and i'd appreciate your comments on it. your thoughts. >> you are right, i thought it was rich. i thought athena was rich. athena, i hope they come back. i think it's a really good company. cernor didn't peak. i was concerned because all strips was having a hard time. even though i said cernor was better than all script, i was too kaumpblts you were right, i was wrong, i wish i had done a better job. a is it for effort? yes, the letter a the symbol for ad spu lent the company is making a turn-around, give you a couple ways to win. take some adulent. buy, buy, buy! . .

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i tell you whether to buy, buy, buy, or sell, sell, sell, when you hear this sound, then the lightning round is over. are you ready, skeedaddy? i will start with chris in louisiana. >> caller: how sit going, jimny want to give you a good new orleans boo-yah from the bayou state. >> me and my daughter used to hang out there. what's up? >> caller: i wanted to get information or barnes and noble. is it on the upside or do i need the ring the register. >> i think it's a pretty well company. it's the only game left in town that bodes well. car bin in kansas. -- corbin in kansas city. what's up? >> caller: to under arm our considering their international growth. >> a critical article. i think plank is going to get it going. i am actually a buyer here on weak inside in particular. i think it's a good company.

let's go to veronique in texas. >> caller: recently with the rotation of concerned morgan the sector is down. my question is about eagle rock since it's smaller and a potential acquisition target, it appears to be a good value. at this point is it a buy? >> well, it was, there is tremendous rotation out of this group. one of the things that should help it because there isn't going to be a grand bar begin, it is unlikely to change the tax laws. i feel you should give it rest. do not come in yet. this is attractive. you got a 10% yield. let's go to mike in florida. mike. >> boo-yah, jim. my question is about west corporation. it's about up 15% since its ipo a couple months agocht what's krour take on the stock? >> yeah, i like when it came public. you know what? i like cisco more. i think cisco has nor upside. my charitable trust owns that. ralph in new jersey. >> caller: boo-yah, jim from

east hanover. >> east hanover, holy cow, let's go to the rei. what's going on? >> caller: i was at the mall. i wanted to come over and say hello. >> always come over. everybody does. always. i'm kind of ask helping -- schlepping around the mall like everybody else does. >> caller: my wife said, leave him alone. it's his own time. i didn't say hello. jim, i have 550 shares of pfizer to my account. >> are you in good shape. i like pfizer, it's not my favorite in the group, though. my favorite is glaxo smith kline. gsk. i think that's the better one. dean in california. >> caller: hey, jim. i'm laying here on the couch with the flu boo-yah. >> oh, sorry to bother you. >> listen, i bought kmp a while

back. when it went up in the 90s, i thought it was real cotton, since then, it's been pounded mersly. >> how many of these can you fight at once, if the stock drops to 80, going right back in, it's just the rotation has been so vicious to this group. you can really only own one without getting too hammered. and that, ladies and gentlemen, is the conclusion of the lightning round! coming up, innovative tumors are changing the landscape in the fight against cancer. tonight, cramer speaks with the ceo of biomarin to hear what its results of the latest study may mean for the future. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ .

two weeks ago, i told you the american society of clinical oncology meeting is happening right now will be a big deal for the biotech space. look at what's happened. over the weekend, we got a new class of anti-cancer drugs known as parp inhibitors.

it suppresss tumor cells needed in order to reproduce. that's datas causing some huge move. these different announcements just broiled the market. tesaro rallied $12. it's now tripled since i got behind it back in november. on the other hand, biomarin, another stock that i have been a big fan of got pounded today. down $2.90 even though i thought the data on the anti-breast cancer drug was compelling. i think this pullback can be an amazing buying opportunity semi-since oncology is a small part of what they do. they specialize in enzyme therapies for rare genetic diseases, so-called orphan drugs. they have good patent protection. why are they so expensive? take the drugs biomarin have on the market. two treat mps. it can cause horrific damage at the cellular level if left

untreated t. company has a drug for phenyl -- pku. the people that suffer from them need to take biomarin's medicine no matter how much this stuff costs. plus, biomarin has a pipeline full of drugs they are developing for a host of other extremely rare diseases. even if the breast cancer drug is worth nothing. i think it's worth more than that, today's sell-off would have been excessive. which want to talk to the ceo of bia marin. find out where it is headed in light of the big oncology conference and he has been on this show before. this has been a remarkable performer, sir. i will ask you you point blank, what are investors missing on the asco results you reported this week? >> i think it's a sell on the news of the expectation that we are very high.

i think they are missing, indeed the fact if you look at all the development, we are the one that has shown a superior potency as compared to any other once between 600 times and 1,000 times as potent as any of our competitors in our ability to kill cancer cells. we are the only prohibitor that has shown two responses one in breast cancer patients out of all our competitors. >> now the ovarian results were pretty astonishing, right? >> the ovarian results were pretty astonishing. i think the breast results a also very good. i think the difference are the fact that the breasts, they are still maturing, some patients had only had one or two cycles of therapy and we still don't know today in that study what is the true response rate for

breaths cancer patients. we will have more data at the european society of medical oncology meeting in september at the center meeting in december. >> can you give me just the kind of a last thing, tesaro is there, astro zen ka, do we have to worry those guys are too big and this is not the right market to compete in? >> they have no response, we have four patients so far. >> that's all they have? >> that's up to date. yes, in mutative breast, maybe tomorrow, they will present more. so, astro zenica, guys, is a significant company. we are 1,000 times as po ten. and the formulation so far and i think they will file for approval in the first time, patients need to take 18 capsules a day, our product is one tablet a day and also we only had one complete response

for ovarian, one in breast. >> what was interesting for me at one point when the stock was down big, people didn't understand, this is really an ad jungt business. do you think your cancer business can ever be as big as all those other drugs that are you already selling? >> possibly because it depends whether, it depends on whether our product is going to be effective beyond mutated breast patients. effective in other indication like small cell lung cancer orgastric answer or or as many asgastric answer. -- orgastric cancer. >> i was trying to figure out what biomarin brings to these particular cancers that nobody else has. >> i will say what is happening is biomarin is always focused on rare disorders, on developing very effective therapies for small patient population. and what's happening is that the

cancer world is moving towards the orphan mold. so instead of development developing a drug for all cancer patients, what you do is you develop a truck for specific mutations of breast cancer patients or ovarian cancer patients. you turn those indications into orphan indications and it comes into our space. >> one of the things i think is fascinating is there have been stories about the very famous celebrity that had a breast mastectomy in advance. do you think parp may eliminate the need to have that kind of let's say preventative breast mastectomy because you will be targeting the potential for gene sequencing with your particular drug? >> that's a very good question. because that's a personal choice that as you made, actually the reason why she did it angelina jolie has a mutation. she knows her risk is 80% and those mutations make the cancer very aggressive. so it was her decision.

but i would say, we have data we showed today in breasts that some patients after trying every possible therapies existing today, and not responding to any therapy, and you give them our drug and many of them, 39% of them out of 30% or more reduction of their tumor, one of them had a complete disappearance of the tumor. >> it's incredibility. i wish i had focused more on your other pipeline. this is so amazing, the results. the market got it wrong. thank you so much j.j. biename. great to see you, sir. >> thank you, my pleasure. >> this is 21 of those opportunities you get because of a drug it was a actually i think in many ways superior but didn't get the headline excitement, but all the other trucks that this company has just makes it so biomarin is one of my -- right now, it'sny favorite of the biotechs. it's just knocked down. that was incredibility e correct. math "mad money" is back.

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collapse in the commodities markets. and those are the ones that have fed the emerging market world for as long as anyone can remember. every day we see wholesales crumbling. the iron ore of copper to stay up here t. endless rollbacks of price hikes in steam the thrashing and track of aluminum.

oh, these are all signs we're on the verge of an emerging market slowdown. typically in china, also in brazil. the inability of the bull trade index gives us a couple days of rally during this last month is mind boggling. the two measures of the global commodity is a slow motion train wreck. the rates they can't rally, no matter what the geopolitical tension is, in the midst of all this chaos, one number stand out, brent, brent crude is hovering above $100, $102 to be precise. no up crease in oil production anywhere. the trajectorys of the other commodities, it can't see the dip at all, even when russia slows, it is evident u.s. oil production is coming back far faster than any of the talking heads tell us us, given the imports are at a 20-year low. 36% of current consumption, going lower, you domestic oil

price the actual price, is coming in about $80, somehow it hasn't added one whip to the global price. the world is awash in oil. would seep to be the case. it doesn't matter at all to the price of brent. libya is back online. iran is still able to pump out plenty of oil despite the soft embar go. they haven't had to in mean meaningful way because the darn price hasn't come down. why is it? first we know the brent prices have been manipulated in the past. i can't dismiss the notion it's being manipulated now. that's being investigated by the authorities. second, as china is slowing the car sales over, the chine reese out there securing world wide supplies. we know that from the piece in today's new york times that china is taking half of iraq's production. the u.s. noi economy is coming back. not so fast that it can support higher oil prices here, endless

chatter of how this bottleneck with west texas intermediate has been solved or that bottleneck is eliminated. you know what, it doesn't happen, brent and west texas haven't gone to equal. oil started break down on friday, the price of west texas crude rebounded at 93 today. i think brent could be about to break decisively below 100. i think these declines can be given the real deem. it is, of course, great news for the american consumer, fabulous news for deflation. it will make the dramatically higher interest rates inconceivable. it would be very bad for the global growth. i don't know, maybe it would be a push to some degree. if oil is on the downswing, it definitely makes the oil stocks a sale thoechlt i think they should go lower. i think it's time for to you sell oil service stocks as my charitable trust did just today. to me, brent is going to $95.

that's a much more likely scenario than a rally by the rest of the commodity complex given the free fall we saw just last week in almost every commodity in existence. stay with cramer. when is the japanese bear market going to hit american stocks? where is america's risk-taking and animal spirits? up next on can the kudlow." .

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>> welcome back, the s&p 500 replacing heinz. you know my charitable trust likes that stock. like i said, there is always a bull market somewhere. i'm jim cramer. see you tomorrow. the new intern chief at the irs told congress today he will fix the quote serious problem end quote at the agency. but every day, those serious problems seem to multiply and tonight, there are new accusations that point the finger at the irs chief counsel who, by the way, is an obama appointee. we have the latest on this video that everyone is talking about, irs workers at pricey conferences making pricey videos and doing dance routines, all on the taxpayer's dime. the other big story tonight, senator frank lautenberg of new jersey passed away this morning. puts governor chris christie on the spot. he gets to