you on board. the price action letter x today was weird ahead of earnings. u.s. steel on the reversal ahead of earnings tomorrow. >> i'm sara eisen. catch "fast money" again tomorrow at 5:00 p.m. eastern. "mad money" with jim cramer starts right now. my mission is simple -- to make you money. i'm here 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 just trying to save you money. my job isn't just to entertain but to explain what the heck is going on. call me at 1-800-743-cnbc. or tweet me @jimcramer. f.a.n.g., yep, f.a.n.g.'s back. i said it here.

and "usa today" confirmed it this morning. with the terrific story about the acronym that stands for facebook, amazon, netflix and google. my self-styled shorthand for what's working in this stock market. but on another vicious day where the dow tumbled 128 points. s&p sank and the nasdaq plunged nearly a percent, while f.a.n.g. represents a nice respite from the world, f.a.n.g.'s leadership happens to be terrible for the rest of the market. that's right. i want people to know loud and clear that f.a.n.g. the isolation of a handful of stocks that can power higher and spurts we haven't seen in ages is a bad thing. >> boo! >> not a good thing. for stocks in general. and the market overall. >> sell sell sell. >> first, understand that mutual fund and hedge fund managers are

looking for growth. right now the funnel for growth seems to grow smaller by the day. which sends the proven storm to the ones with the best prospects higher than they'd go. longing for growth is like rocket fuel for f.a.n.g. i get it amazon the "a" in the acronym had a profit when people were looking for a loss and one could have been that bigger if they didn't spend so much money. and amazon hasn't scratched the surface of china yet which is a good thing given -- who -- how weak china has become. netflix signed up a lot of people. you can claim that it's even more beloved overseas. not only that but it doesn't plan to go into china until next year. when it unveils crouching tiger hidden dragon 2. first in imax theaters and then "house of cards" is the most watched in china. and amazon with the prime offering, the one that saw the

20th anniversary prime day garner more business than black friday, a netflix subscription is the best in history. google didn't become a serial screwup to reporting. it came off as profitable. it never met an idea it didn't want to spend a fortune on. that ended when there was a new cfo of google that came in. i listened to it with awe. it was so clear that the new sheriff was in town. she doesn't condone reckless spending. i found myself thinking wow, google no longer wants to put -- be the first company to put the first man on the sun. something that richard pryor demonstrated the in the more outrageous tutorials. richard pryor. it was a remarkable quarter for the discipline with tantalizing prospects of an eventual return of capital. and finally, there's facebook. the other stocks all have the

colossal rallies after reporting incredible reports, but facebook hasn't reported yet. i own it in the charitable trust. we know about facebook my daughter came back from doing volunteer work in cambodia they all befriended each other on facebook. we know that two firms pushed it hard today, suggest an amazing quarter. they would have thought they downgraded. with the bad quarter, the "f" in f.a.n.g. could be left off and ang is nothing. what's more important is what f.a.n.g. doesn't say. this market is truly treacherous. people are selling pretty much everything it's nailed down except f.a.n.g. and a handful of winners. that's a sign of desperation, not a sign of health. when i say handful, i mean chipotle and allergen and hot

cyber stocks got hit. the truth is we keep losing leaders left and right. the devastation in biogen shows how badly things can go wrong. biogen crushed the whole biotech complex including celgene. and regeneron which got fda approval for a big anti-cholesterol formulation. and everyone yawned. right now, it stands to believe we have the two sources of tension, the chinese crash and the fed market meeting on wednesday. it worries about greece and europe and most people i talk to think they're done with the passes which is why wednesday is regarded as so frightful. so now traders have both feet out the door. because of the fed and last night's 8% crash in china. now i don't blame them. i have more on china in a moment but let's just say we have long assumed that the communist party was invincible. i don't know about you but if you read "the new york times" on sunday you were jealous.

china's global ambitions, it was about how strong china is. you get the sense that the communists are on top of the world. but when you hear about the crash and their admittedly small stock market and the damage it is wreaking it's hard to know how strong the government might be. maybe it's more like jimmy cagney and the seminal scene at the conclusion of white heat, made it, ma, top of the floor and then he goes down in a blaze of glory and flame. and baidu reported a not so hot number tonight and they're down huge. i'm sure we'll be hearing it don't buy tomorrow. no matter both the fed and china inspire selling in pretty much every sector. international stocks are tagged by yes the super freaking strong dollar. ♪ she's super freaky now ♪ >> that will get stronger. financials have been looking good until capital one issued a radically increased -- bringing

back the credit woes i thought we were done with those. but the biggest thing is how we react to news. the health care mergers aren't helping one bit. the reaction is cigna's merger was negative. and the continuing decline of skyworks solutions after a fantastic quarter. i read it over again this weekend. i said why are they selling it? well, they have given up on it. they have given up on cell phones. worst of all anything commodities. that's the real pain in the market. i think we forget that during the great shale boom in our country a huge number of oil and gas companies became public. and they have become toxic to all who touch them. you know what they're like? portuguese men of war. they look like little guys but they'll paralyze you if you aren't careful. rarely have i seen this kind of declines, it is relentless.

we just presume losses now. we also presume that oil will take out on the $43 low. crude isn't coal but it acts again. which brings me back to f.a.n.g. when you have a four letter acronym that can represent only the stocks that are working in the market after five straight declines, that says be careful. here's the bottom line. thin markets are bad markets. and this is the thinnest market in ages. let's get past this fed meeting to see if that's the chief ailment, see if china rash -- crashes again tonight and f.a.n.g. alone can't stave off the bear no matter how sharp it might be. joe in pennsylvania. joe? >> caller: cramer thank you for taking my call. i'm a third-time caller, long time listener. >> thank you. >> caller: my stock is poe tech -- ftk. >> you know, this is a tough one

because flow tech reported a great quarter. but nobody cared. because in the end it's oil service. this is not unlike schlumberger. that stock is now down four from the quarter. so in a sector with the neighborhood -- where the neighborhood is bad -- >> the house of pain. >> there is no -- >> house of pleasure. betty in florida, betty? betty? >> caller: yes? >> you're up, it's jim. >> caller: hi, jim. i have a very short question for you. >> sure. >> caller: what's the prognosis for verizon? >> i think it's pretty good. verizon is what you buy exactly in this environment. they've got big cash flow. it yields 5%. i think if it goes to 5.5% it would be a real steal but it's good. i like verizon. how about sue in kentucky, sue? >> caller: hello? >> hi, sue, you're up, it's jim. >> caller: yes. i've got stock that i wanted to get your opinion on. i have had occidental petroleum

for many many years. and also that xle. they keep going down and i don't know whether to hold them or go ahead and sell them and take a big loss. >> you know, sue, i'm in the same position for my charitable trust, for action alerts. jack moore and i talk about it he's the research director. he said let it come in and buy it lower when the oil comes out at 43. it's got a great balance sheet. let it come in. do -- i would not sell it here. i think it's too late to sell. f.a.n.g. okay, what do we know about f.a.n.g.? thank you "usa today" it's back. but it can't stave off the bears alone. we're in a thin market we have to get past the fed meeting before making any bold calls. well, on "mad money" it's up 30% in year, but can big data planner qlik keep ticking higher?

it's a stock that's going higher. let's capitalize off the buy back i have your ultimate sell-off shopping list not being bullish, plus breaking down the absolute beating of biogen. deserved? it can it bounce back, you don't want to miss my take. stick with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer, #madtweets. send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. over 20 million kids everyday in our country lack access to healthy food. for the first time american kids are

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at a moment when the whole market has gone from relatively benign to absolutely malicious over the course of one brutal week it's worth remembering there's still some winners out there. you need to know where to look for them. take qlik technologies, the high quality provider of big data analytics software and we know that the big data theme remains

very much alive and well. we talk about it all the time and they're looking like a terrific way to play it. it's up 13% since we last spoke to the ceo in april. and the software is all about creating a user driven intelligence platform that allows the people who are making the decisions at a company to access and analyze their own data directly. not forcing them to be beholden to the i.t. department. and qlik reported another terrific quarter and they dlifd higher than expect -- delivered higher than expected sales. imagine getting better than expected full year guidance. even though they missed the earnings estimates by a penny, this revenue forecast is what matters for this company and it was enough to send it soaring in a single by the way brutal session. so let's check in with lars bjork, the president and ceo of qlik, to hear more about the quarter. welcome back. >> nice to see you again. >> thank you. i think a lot of people -- they

want to look at traditional metrics to say what did they earn? i look at what could be the future in a revenue based company. you signed a deal which i think bring in 500,000 new clients with aphis software. it seemed to be the biggest thing to happen this quarter. >> it sure was. so the software is a vendor in the dutch-speaking -- >> enterprise resources? >> yeah. what they will do is embed our tulle and roll it out to over half a million users. it's a phenomenally good attraction point for us. >> how do you get compensated for that? as soon as they buy it do you get compensated or do they have to take more product? >> so it's a big chunk up front and future revenue streams as well. this is ring fenced one application. if the customers want to do outside of that source they have to come back to us. and we're happy to come back and upsell. >> now, you use a phrase in all

of your documents, collective human intelligence. if you could explain that to people, they can understand what a cloud based company can do. >> so it's a focus on analytics and you tend to forget there's a human that makes decisions. what if we use the same platform, same data sets and we together make a decision. that's what we think are important things. not the single point of one decisionmaker. >> all right. so for planet hollywood calls in, what do they need you for? >> so what they want to do is a chain of restaurants, they want to take financial reporting out to the mobile. you want the actual restaurant to see the financials on site on time. >> so a manager has an ipad? >> yes. or a smartphone. >> or a smartphone. they're looking to see how they're doing versus others or how they're doing at that moment? >> how they're doing versus others versus budget other

kpis. >> it's not one of things that you get a run? >> no no no. >> that's the old days. >> totally. you have to be on the ipad or you have to be on the actual information. or i think you're out of the game. >> okay. so in this quarter, you signed seven deals of over $1 million which is a lot. now, there are a lot of different examples of what you get of different companies that sign, but what are are the kind of deals that are $1 million? what do they get for $1 million? >> so you take a big financial institution in new york. that one -- they want to roll it out to more users in wealth management or trading. lately what you get you get more users and more insights into your business. a lot of companies are struggling with tons of data. how do you get insight into the data? how do you make it readily available for all the users? we take the approach where you can get started very easily but you can grow for us for a long

time. >> i have to ask, what do you do for harvard? >> for harvard? >> they tend not to be savvy about money. >> no, but they raise a lot of money. you have to keep control of that money. they have administrative side of their business. that's what we help them with. >> i thought one of the things that -- watson that was ibm and watson is doing that wealth management, you get the analytics. are you up against watson? >> i think watson is still early days. we have seen it in the market. >> yeah. >> but really we're not up against them. >> watson, not up against them. fair enough. lars bjork, a great quarter. a terrific contract with the software. after the break i'll try to make you money. come up, biogen had been in rally mode until last week. what caused the decline and

could others be at risk? cramer has the vital take away, next.

i'm constantly telling you that you need to buy stocks into weakness, but so many times when you get that pull back what happens? well, people panic. you get cold feet. you get cold feet. you think, oh, wait.

aren't i supposed to wait for a bigger pull back. that's not the way i like to play it. you have to be disciplined enough to sell when the stock soars and buy when the stock gets to your levelled when it's being hammered. that's what i was taught and i think it's universally known but rarely acted on. the number of new loan lows hit the highest figure since last october. i gave you a shopping list of the stocks to buy if they pull back in the next pull back. and now that the pull back has arrived i think we have to go back over the list, right? i can't say no, i'm not willing to pull the trigger, too scary. i'm saying let's go through the list of mine resistant stocks i gave you to see if there are any bargains now. first up is disney. this morning i listened to bob iger on "squawk box" and his level of confidence made me feel good about disney. the problem is that my confidence doesn't necessarily extend to the stock yet.

because it hasn't corrected at all. unless you think it declined from $119.80 counts as a sell-off. i don't. he said that shanghai china won't be impacted by china. "star wars" will be a blockbuster and i agree it's got a tremendous sign of strength it's so those to the all time high. this is about pull back and i say wait for some dislocation before you pull the trigger on disney. if you own it i'm not tell you to sell it. next up is nike. and that's getting compelling. the stock ran up after an amazing quarter and broke 114. since then it's dropped three points. i know that nike has a considerable business in china and the last quarter didn't include the crash. but i say you can buy nike at 110 and wait for it to go lower before buying more. we are still too close to the top.

this is a pretty good list of bulletproof names because number three advanced auto parts is off the high too. and especially for $168 that's not enough. we're waiting. then there's o'reilly automotive and it hit an all time high on friday. i can't discount buying the stock, wait for this one as well. what a group of stocks, huh? oh here's one. interesting. snap on tools. last week it reported the usual excellent quarter but some wags thought it was light on revenues. it is down roughly 7 points. not much because it's $157 stock. however, you know we rarely get any discount on this one. this is the most it's given us in the last six months. that was eight points off of a $148 basis last time. so it does make me think maybe you should dip your toe into some snap on here. sna. i still like the home improvement and the

non-residential construction stories here in america. which means i like the next one, mohawk industries. the carpet and flooring company. they have only pulled back from 202 to 191. it's up year to date, but i don't think it's a bargain. stanley black and decker only four points off the high. this one reports on thursday. right after wednesday's fed meeting so i'm inclined to wait and see. it's not a pull back. four points is not a pull back on a $100 stock. i like this one. how about marathon? if you think that crude is going to continue to plummet, buy the stock. it was down badly today. i think oil's got more downside. i like marathon petroleum, but it reports on thursday. now, i know you can say i'm a biased guy because i get my paycheck from these people. but i pounce on comcast right now if i were allowed to own

stocks. why? they just reported so no guesswork here. this is a big discount for the very steady eddie company. third, no real relation to china, am i worried about core cutting? look, i think it's cheap and it has profitable cash flow. next, i know electronic arts has been a rocket. it's up 52% for the year. yet, i think this is the kind of stock i want to buy into the current weakness. because it reported an amazing quarter and yet the stock is now down from 75 to 71. which is a big discount on the 75 basis. to me that's a buy half before the fed meeting and after the situation. the game schedule is too compelling to sit on the sideline, ea. i'm worried about eli lilly. i think it's too heated. the quarter was fabulous though but i'm not tempted because the stock has gone up too much versus the other big pharma companies that we'll hear like merck and pfizer. next up is general mills.

it's hard to swallow, given it's down a buck or so. but i think general mills is worth buying right here. we spend a ton of time with the ceo recently. i like the transformation to healthier food he's engineering. now if the fed said it will tighten soon the higher yielding stocks could take a header. buy half before the meeting and then half after. i think kraft-heinz, the recently merged conglomerate run by 3-g in brazil, and they're brilliant, with help from warren buffett it's a buy. 2.8% yield, and this is your chance to get into kraft-heinz. i admit it's starting to drive me crazy they haven't sold off much but that's why we want to call them teflon companies. and i know it's down less than a point from the high, but that's about all it's going to sell off, because it's a good story. unfortunately, mondelez reports

on thursday buy half before and after. i don't know you're not getting any price breaks. and i have been telling you to wait for a pull back in the 2% qualifies as one. you have another month before ul that agains, start buying it here. i'm not crazy about this market. even after this multiday decline. i don't like the set-up. haven't for ages. i don't like what's going on in china. i'm still a seller for action alerts plus.com. i do worry the fed might tighten and say something negative this wednesday. how, my bottom line is this this teflon stocks they're chock a block of winners. i sanctioned buying snap on comcast, electronic arts general mills, kraft heinz and ul that salon. as for the others i think you can wait for the real pull back

before you need to buy any of them. let's go to john in florida, please. john? >> caller: hey, jim, thanks for all your good advice. >> thank you. >> caller: i'm in a sizable position in glaxosmithkline. it's as ice cold -- i don't know what to figure. i own some bristol-myers and that is on fire. it's got -- glaxo has a goodloe p.e. and a good dividend. >> okay it doesn't have the growth that we want. by the way, i think bristol-myers is oversold here, but people want yield in these. wait to see what pfizer merck have to say. but glaxo have the weakest growth. let's go to terry in washington, please. >> caller: jim. booyah to you. i have a question about organic -- >> that's tough. i have to play with an open hand. my charitable trust owns

whitewave. why? it's been two years it can be taken over. it's a natural acquisition. this is still the growth category, but we own whitewave because we think that's more upside in terms of both takeout and earnings. whereas i think hane, i don't expect the takeout. john in california, john? john? you're up, john. >> caller: yes. yeah, i'd like to know about home depot. >> i think home depot is a buy. i think it's starting to come in. you can actually buy some home depot tomorrow ahead of the fed and then buy some after. if you wanted to have a full position of 100 shares. i would get 50 in ahead of the fed and maybe buy 50 after. in case it comes down. but boy, that company is doing well. that includes stanley black and decker and -- why get a stock on sale if you can get it on clearance? you can get on snap on, comcast,

ulta salon as they come down. much morer more "mad money" including the break down of biogen. it sank 30% from last week. justified? i'm putting the moves under the microscope. and do you think greece put a wrench in the market? china can put you in the house of pain. okay, a brand-new edition, monday style of the lightning round. stick with cramer.

major buzz kill for a large big company. >> earnings and revenue missed the mark. >> tough for biogen. >> been a tough week for biogen. >> for an entire week we have been caught in a pretty darn hideous sell-off. one that continued yet again today, but even within this

broad based pull back, we have seen some declines that were jarring. i mean, eye popping. consider what happened to biogen last friday. when the company that had been among the strongest players in the red hot biotech space lost more than 22% of the value in a single session. and that's after the stock had already come down 6% on wednesday and thursday. all told biogen shares sank 27% last week and the company lost nearly $26 billion worth of capitalization and we thought it was a high quality stock. one of my four horsemen of the pharma apocalypse and they got crushed. even though it seems like the other three have -- well, they have left this one in the dust. what happened to biogen well? first you need to know why it it

had traded up to 109 and we kind of trace things out. this stock began rallying and rallying hard last december. that's when they first presented some strong data from the early state study for the experimental alzheimer's drug. nobody expected results that showed biogen's drug working. remember, this was phase one. that kind of thing is basically supposed -- that's supposed to valuate whether or not it was safe. instead, we got some fabulous data points on efficacy for disease that's notoriously hard to treat. given that many pharma giants have tried and failed to come up with a workable solution, this this -- this shot up from 308 to 347. and since then this share never retreated back below the 325 level. at least not until last friday. now biogen had been roaring for years before then, but after the alzheimer's data the company had a whole new leg to the growth

story. keep that in mind. then when biogen reported at the end of january the company proit ride issed some -- provided some bullish guidance for 2015. keep that in mind. management reported a revenue growth, not to mention 1660 to $17 of earnings per share. interesting. biogen's tremendous growth in 2015 was supposed to be led by tech fe dera the new multiple sclerosis pill. i should call it relatively new. let's put it all together. when you combine the bullish line and the strong guidance issued in january that paints a picture of had strong current earnings power and a robust pipeline that could lead to even better earnings growth down the road. i need you to focus on this. that's why the stock jumped more than 10% the very next day. and continued to work its way higher over the course of february. then inially march, investors became down right giddy at the prospect of new information

about biogen's alzheimer's drug. the stock rallied from 409 at the end of february to 475 on march 25th. on march 20th. where biogen made the all-time high, right there, and it's worth noting that the analyst fed it with three different firms raising the price target ins the price of two days. this was a furious rally as it surged higher mid march. the analysts were ga-ga for the drug and they were looking for it to fly up to $500 that's how you get this kind of move. but this turned out to be a by the rumor, sell the news. as investors began to take profits because of valuation concerns. in fact on march 20, at the exact peak i have to admit i did come out here and said to ring the register on biogen and the whole biotech cohort because i thought they were due for a nasty sell-off.

these are spikes and in the 35 years of being in the market, these are really bad signs. okay? immediately after that, biogen lost more than $50 in roughly a week. that was because of the broad based decline in all things biotech. the cracks came in late april when they reported the first quarter results. missing wall street's estimates on both the top line and the bottom line. in other words, the sales and the earnings. yet, even though their quarterly numbers disappointed, biogen refused to update the full year guidance. management said at worst the full year results would come in at the low end of the previous forecast. remember that low end was 14% revenue growth. okay, 14%. biogen did sell off yet again with it losing 13% of the value in three sessions. as it sank down to 343. given that management defended their full year guidance, remember that low end, there was a bullish case to be made here. did the analysts stick with it. rbc said biogen weakness creates

buying opportunity. that was the kind of refrain from the -- that you heard. i'm not picking on rbc. sure enough by the end of may the stock had crawled back up after the 400 mark because the bulls still believed in the positive tech fe dera story, the ms drugs and the alzheimer's formulation and let's add in the phase two study which many thought was the secret to combating strokes. then the last week, it got on the to pieces. last week's biogen sell-off actually happened in two parts. first on wednesday the company provided a long awaited update on that alzheimer's drug and the results were i think mixed to good. patients showed a slight improvement in cognition versus those who got the placebo and the reduction in amyloid plaque which is good. it didn't show that kind of

improvement that so many bulls were hoping for. which is why the results were widely seen as disappointing. the data showed that the form you lakes -- formulation had a 50/50 chance of working. so no surprise biogen tumbled 35 points or nearly 6% over the course of last wednesday and thursday. suddenly biogen no longer has a red hot alzheimer's story, but hey at least there's the 14 to 16% growth forecast driven by the ms drug, right, right? but the stroke formulation, right? wrong. because when biogen reported on friday, the company dropped a bomb. because even though they beat wall street's earnings estimates for the quarter, management dramatically cut their full year sales and earnings forecast. instead of revenue growth in the 14 to 16% range that i mentioned four times biogen is looking for 6 to 8% growth.

they're now saying 15 to 15.95. biogen is expecting a react sell race in the sales but that didn't happen. they posted moderate but not compelling growth. so in a matter of days biogen lost not one but two of the main pillars holding up the bullish thesis. the alzheimer's therapy and the hope that the ms drug could generate more growth and biogen's management slipped in the fact that the phase two study of the stroke treatment failed to meet the end point. hey, look, no wonder. no wonder it lost 22% of value in one day. it should have. the company's brightest prospects look a whole lot dimmer. the bottom line, i know it's difficult to get your arms around but i had to explain this. it had been presenting itself as the three legged stool. a strong current growth that was led by the ms drug. a powerful pipeline and then put it together and it seemed pretty great. but in the end biogen was a

three legged stool with three shaky legs. i think you can make the case that management let's just say i think they were too promotional. honestly, if we see another quarter like this one, i'm forced to kick biogen out of the four horsemen of the pharma apocalypse. "mad money" will be back.

>> announcer: lightning round is sponsored by td ameritrade. >> it is time. it is time for the lightning round. you say the name of the stock. i don't know the calls or the -- sell sell sell sell -- buy buy buy buy -- [ buzzer ] -- then the lightning round is over. are you ready, skee-daddy? time for the lightning round. start with janelle in pennsylvania. janelle? >> caller: hi, jim, i'm so excited to talk to you. love the show. is it a buy at the current level can not what price do you think is a good buy? >> which one is that? >> caller: conoco -- >> oh i would buy some here. but i know that the oil is going to 43. everybody says it. so why don't we just wait till oil goes to 43. wait a moment. it is attractive. charles in kentucky. charles? >> caller: yes. >> charles?

>> caller: yes. >> go ahead, it's jim. >> caller: i wanted to ask you about sears. cerus. >> it's good. a nice spec. er is us logic can go lower. let's go to francis in florida. francis? >> caller: cramer, i need your help. during the past year you had the ceo of -- pharmaceutical on your show. i believe in him. and i believe in his company. isis was 77 at the time. i purchased it several time ossen the way down at an -- times on the way down. should i buy, hold -- >> 77 it was not at 77 at the time. because that's the absolute high. it was not. i said at 73 that i was worried about this company. now, it's all the way down here

but i have to tell you in a market that can take biogen down 30% in the heart beat, isis is not correct yet. not correct yet. huey in texas, huey? >> caller: hey, jim. >> yes. huey. >> caller: my question is metadata solutions. it has been down lately. i don't know if i can hang on to it or add it -- >> well i think the stock did not take down the high from last year. as a matter of fact, i would be a little concerned about it. i mean it's got a decent feel about it. but i just feel -- but this is the metadata man. i do feel frankly that these are very hard to own right now. the specialty software companies. let's go to robert in arizona. robert? >> caller: jim booyah. >> booyah. >> caller: sandisk, buy, sell or hold? >> they lowered guidance, lower guidance and then they beat guidance so therefore i think the trade is over. i don't want to be involved. let's go to vina in new jersey. vina? >> caller: hello, jim. i have a question about 3m.

given that the stock has underperformed and taken a big dive after the latest earnings report, do you recommend that we buy, sell or hold? >> a great question. i think this was not a great quarter for 3-m. my charitable trust has owned it for a long time. i call it a core portfolio situation. here's the problem. it is going lower. i mean it's got too many sellers. what can i tell you? i think you bike the stock when hit its 1 -- i think you buy the stock when it hits the 141 or 143. that, ladies and gentlemen, is the conclusion of the lightning round. [ buzzer ] >> announcer: the lightning round is sponsored by td ameritrade. let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this.

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we are china. i know, nobody wants to hear it but it's true. last night, the chinese market was down 8%. a true crash. s&p futures were relatively flat. i was trying to wipe my eyes to get the sleep out of it. i put out the absurdity on twitter because when people wake up and see that china has crashed again, they'll bang down the exits. and as the slothful woke up it was down about a 0.6% decline. we have nothing to do with china, you can say that our stock markets aren't linked because we didn't have the dramatic move up that they did,

so why should we have the same dramatic move down? the shanghai doubled going up to 5,091. so if we didn't rally when they did, why the heck should we be impacted now that the composite has fallen down to 3,726? the answer is simple. because in a world where there's little growth we need every country to do their part to get the global economy expanding and china is doing the exact opposite. plus that close, it's so phony, so false. because about 1400 stocks were suspended. lots of stocks have simply stopped trading over there. who knows where the averages should be. given all the provisions that the government has thrown at the thing to prop it up, canceling ipos, stopping large holders from selling, directly buying stock it's insane to think that the market can stand on its own two feet anywhere around here. the fact that it's still up 15% for the year not to mention even

more nutty 52% gain for the smaller composite is just plain lunacy. plus it's like the vast majority of the players bought it at the top like we saw back in 2000. why should we care? first, because major companies export to china and second because we know that the communist government isn't as shrewd or masterful or as invincible as we thought. and third, because the market is held hostage by the futures and they trade no matter what is bad overseas. it's a fact of life i identified it all the time. right or wrong. look, it's not like china was doing that well in first place. all of the indicators of economic strength are trending lower. the commodities that china has imported sell at lows. and there's a faint hope to an infrastructure plan. i'm beginning to lose faith. all the chinese weakness is making the glut even worse at a time when the companies that make them are often overstretched financially. keep watching the best proxy to

see how ugly things are baud it produce -- because it produces gold, copper and oil. believe me, oil wouldn't have gone down if china was doing well. we are china. we'll trade lock step from now on. with tech names like f.a.n.g., facebook, amazon, netflix and google, bouncing after the smoke clears. we got used to being greece. that was a proxy for europe. and now we just need to get used to being china or at least to the chinese stock market which is seen as a proxy right or wrong. for the fortunes of 1.3 chinese. until things turn around over there or we get some sign that the chinese economy is a lot more resillant than the stock market we're hostage to china. end of story. "mad money" is back after the break. quickbooks self-employed helps me get ready for tax time.

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two things. one, you can't get too negative because we have been done for so long. understand there's a reason for us to be negative. two reasons. we have the federal reserve meeting that came out and china is really bad. and we are china. i like to say there's always a bull market somewhere and i promise to find it for you right here at "mad money." i'm jim cramer. see you tomorrow.

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