sea if it holds that par level, 100. >> i'm melissa lee. thanks so much for watching. see you again tomorrow at 5:00 for more "fast money." meantime, "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 trying to save you money. my job is to put it all into context and teach and coach you. call me at 1-800-743-cnbc and tweet me @jimcramer. today is a classic example of why i hate big openings. i warn you never to bite on them including this morning's

enthusiastic come back. it's why i urge you never to reach for stocks. not to chase them up high. when you chase you get burned. the dow opened up 360 points and then the market went into a tail spin late in the afternoon. dow sinking 205 points. s&p plunging so beautiful all day and nasdaq declining .44%. it was if biggest downside reversal since the financial crisis. we didn't have the ingredients as stocks rallied off the openi opening. it's the bane of the stock market's existence. it was all bad news. wrong. how come we were able to rally at all let alone surge big for most of the day? we were dramatically oversold mean we had gone down so far so fast, almost 1500 dow points in

three days and we were due for a bounce it seemed, albet a temporary one. but only as we opened down as i was hoping this morning. second reason for the morning rebound, the chinese seemed to have woken up to the idea they should stop trying to pop up their stocks including much junk. more on that later and instead should pump up liquidity into the system. as the party insisted on making them higher you knew the efforts were doomed. no one is bigger than the markets. not even the party which seems more like the pajama party these days. the chinese government would be better off to use it's money to give $1,000 to every family in the country. they have trillions overseas. we could rally it all after the chinese market fell another 7%

last night but it was gratifying to hear the government recognizes stock market interventions were a big waste of money. anything that makes the government seem more intelligent is a big step forward although i expect another decline tonight as we begin to close in on erasing the entire gain since the chinese rally began one year ago. 3rd positive, we got some economic news out of germany indicating that business remains strong. the biggest potential risk from the chinese contagion is a possible worldwide recession. good news from europe means the impact of china's failing may not be as widespread as we feared. fourth positive, best buyout of nowhere reported sharply better than expected earnings. same store sales up 3.8%. we expected 1%. spending is a terrific sign of our country's consumer health and i like that best buy called out appliances, telephones, mobile health and fitness. especially sales of yes, the

watch. demand for the apple watch has been so strong in 100 sample stores that best buy is going to start rolling it out across 900 of the big box stores. looks like the watch may not be the bust they claimed. still those weren't nearly enough to stop this market from giving back all of it's gains and then some in a brutal intraday reversal. first, interest rates jumped huge today and i'm old fashioned enough that i don't want to see any competition to higher yielding stocks like the rates do give you when they spike like this. this was a dramatic move. breathtaking even. we're betting rates will stay benign because bonds are supposed to be the safe haven now from all the havoc overseas. higher rates, not my cup of tea. second i have been crafting a positive story around the decline of the dollar versus the euro but the dollar soared against the euro calling that

whole story into question. in the end stocks trade on earnings estimates and not emotions. and we could have raised estimates for the big international companies. if the dollar doesn't go back down we'll have more days of pain for certain. third worry, i fear these federal reserve officials who like to spout off at all hours, yeah they have first amendment rights, sure but they don't like uncertainty. yet they inject a ridiculous level of uncertainty on a daily basis. how come we don't know they'll spout off about how a rate hike is so necessary. it's for these loose cannons to speak out. there's no accountability. did you ever hear anybody besides me criticize the second guessing unelected officials for being wrong about the economy? some of these guys wanted a hike from the great recession yet they continue to speak out in what everyone should regard as a

reckless fashion. the lack of confidence in china's leadership created a vacuum that makes every rally suspect. we need janet yellen to disavow a september rate hike. we haven't heard a thing from her. it's like well in the world is fed chief janet yellen. they're a free fire zone until she tells them to pipe down. it's untrustworthy with it's indecision and multitongue guidance or lack there of. domestic security, housing prices are strong. individuals are spending more on their homes. the home depot thesis. holy cow but this morning they reported a quarter considered disappointing. average home prices sold actually declining and profit margins kind of, they were below expectations. they lost an astounding 7.8%. it shocked the crowd. now we can't lose housing. it's one of the most viable themes out there and it

disturbed a theme that's a huge crutch for this market. when you combine the higher interest rate which is will lead to higher mortgage rates you do find developing in the best investing idea of 2015. the down side accelerated when companies suspended their buy backs so the sellers were easily able to overwhelm the meager buyers at the end of the day. there were no buyers of any size in that last half hour. plus the 600 point decline from top to bottom freaked out those that thought we had seen support materialize. turns out any time you open up more than 1.2% as we did that rally is repeat after me on quick sand. please use this session as a reminder to never reach again. especially when nothing happened to make it worth reaching for. here's the bottom line. the market initially rebounded from an oversold position. good news out of china, europe and the united states but we gave back those gains thanks to rising interest rates, a stronger dollar, no thank you, a

weakening of the housing thesis and worries about fed officials who sold uncertainty making every rally suspect, especially ones that start well above where we went out the night before for no good reason. don in california, don. >> caller: jim, love the show, thank you. >> excellent, what's up? >> caller: question about wells fargo and it's good earnings report lately and it's had a steady climb over the past couple of years and now the decline. when is a good time to get into wells fargo or lease any other bank. >> i was talking to my colleague and research friend and we were astonished at the deline of wells fargo. it's a big position in my charitable trust and it's in free fall. that shouldn't be but rates going higher should be good for them. i think the stock is a buy. it now yields 3% but you know what, the banks have been weak. if you started buying some wells fargo wroud do good but then again you can say jim you lost money in your charitable trust

on this one, what standing do you have? all i can tell you is its warren buffet's favorite. it has great management and 3% yield and fabulous balance sheet. i don't know what else to say. linda in new york, linda. >> hi, jim. i appreciate everything that you do. >> thank you. >> my question is about recepto. i have shares and received an offer for 232 a share. do i take the cash or invest it in the new parent company celgene. >> take the cash and look at the sa situation and look at it as we go lower. i am a believer in a 2011 thesis which is a period where we still have more down side but you don't know where the exact bottom is going to be. that's a theme for me and you'll be able to apply that money in as you go. tomorrow and congratulations. sure we rebounded but you know what, we didn't hold. i'm on high alert. be wary of the fed and keep a

close eye on housing. a lot of names looked less terrible today. but i have a list of stocks that you need to get out of. and then these ulcer inducing market swings aren't the most enjoyable evidents but they can teach us a thing or two. have the lessons that can help keep you out of the house of pain. plus fall is around the corner. and that could be a real blessing in a devilish market. i have the exclusive with the ceo of a major domestic player that might be worth holding on to during this period of uncertainty. so stick with cramer. >> from fall out to flying high. the market namade some serious moves over the last two trading sessions and who knows what's in store next. but whatever comes your way, cramer's got your back. his take on all the action and what to know before tomorrow's trade, coming up on last minute mad. 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. the gillette mach 3 turbo

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today we learned a valuable lesson. we need to sell what we can when we can. not when we have to. this market is volatile enough to drive anyone crazy but i need you to be ready. i need you to be ready to do real selling into any strength

like we had earlier today. that strength was unexpected. it was a gift. what should be sold in those situations for starterers any chinese company has to go. i think china's stock market has a long way to fall. maybe 33%. especially when you consider the efforts they have gone to to tropical wave up their stocks. they have implemented insane measures to keep their market afloat. that includes banning new ipos and short sellers and halt trading in their stocks particularly when it looks like they're going to damage the index and none of it worked. of course while the party has been trying to save the stock market they have been cracking down on corruption which is the greece that kept the chinese economy running. china's whole regulatory apparatus was designed to be so impenetrable that business people had to bribe officials to get anything done but if you crack down on the corruption without changing the system you'll cause a major deceleration in economic growth which is exactly what happened

here and that's a big reason why the chinese communists have utterly failed to keep the shanghai composite from going into free fall. including last night by the way down 7. they even established a fund it's been using to buy stocks in order to prop them up with it's own cash when there's a zillon better things they could be doing with that money including dropping out of helicopters. but last night we learned the chinese government halted their programs. everything they have been doing, all of that propping up is about to get knocked over which leads me to my first conclusion. anything is being manipulated higher by the chinese government artificially must be sold. we know some of the specific names china has been surfacing. these are not high quality companies. these are not blue chips. for example the communityist put a real floor under hydropower.

it's an unprofitable company with a hideous balance sheet, it's a penny stock. the chinese government was basically buying stuff off the equivalent of the pink sheets. believe me when i say many of the others they have been buying taking big shares in aren't that much more substantive than a hydropower company and you realize there's just a ton of overvalued garbage in the chinese markets just like we saw in 2000 which is why i'm using that anlage endless he. of the 1,113 stocks and the blue chip, shanghai composite china's equivalent of the big word, 172 companies are unprofitable and among the rest only 263 stocks sell for less, less than 30 times earnings. that leaves us with 378 stocks, more than half at extremely stretch valuations including 312 names that sell for more than 75 times earnings. the dow jones sells at 14 times

earnings here. in other words even if the shanghai composite has come down nearly 30% this index contains more super extensive stocks than ones with valuations that are not cheap but at least sane. when i look over the list i think lots of puppets, toys, 2000. 2000 right here, right now, right there, right now. how about the shenzen composite. it contains 1,767 stocks. of those, 208 are unprofitable. only 203 sell for less than 30 times earnings. it's far from being reasonably valued. even after the decline. the stocks are expensive. the next time you see any lift in the chinese stocks that are listed here, jd.com, vip shop,

alibaba, you need to use that strength to sell them if you haven't done so already. when you call in on a lightning round on a chinese stock you'll get the following. i'm very concerned about the minerals and mining socks. for example, while i'm typically drawn to a 4% yield i want one from a company like verizon which is cheap and not from caterpillar which has so much exposure to china. we interviewed andrew mckenzie, ceo of bhp this morning one of tlarje the largest companies on earth and mckenzie is cutting capital expenditures to maintain his dividend. he'll be buying less mining equipment for coal, copper and iron ore and that's in their wheel house. they still think china is growing at a clip. although it would make them interesting for speculation but that's not what i want here. i say sell cat the next time the market gives you a good chance. i'm worried people might want to

try to bottom fish in stocks that used to be higher which is a mistake. some of these stocks have balance sheets. look at the balance sheet. look at the debt. last october they sold a lot of natural gas asset which is is the fuel of the future. kept a lot of oil. freeport needs strong oil, stronger gold and stronger copper yet i think all three are going to face prolonged weakness. especially copper because it's so dependent on china they bought them for $20 million when crude was near $100 barrel. still a huge amount of debt. that's a very bad call and don't get me started on the offshore oil drillers. i could detail each one and say sell, sell, sell. they might not be able to maintain that dividend if oil stays low for a long period which now it will. or even chevron might have to

cover it's dividend. there's never any reason to reach for yield with these companies. these companies are in the blast zone. we have so many high quality stocks yield 4 or 5% right now. why do we need these? what else? i just like the rails that are too levered to coal which could be going away. what to do? i would keep union pacific but i would sell cxs that has the most. i'd sell the auto stocks because they too have the china bug and unlike apple where tim cook sent me a positive e-mail yesterday we're not getting updates like the prc. plus the autos have heavy latin america exposure all which leads me to believe the estimates could prove to be too high. despite what looks like a relatively cheap sector. i'm saying value trap. finally i said the high flyers,

these could be challenged because they're bull market stocks in a bearish environment. it doesn't make any money. it's too lofty. here's the bottom line. today showed us you have to use any strength to lighten up on anything in the chinese blast zone. not to mention the mineral and mining plays, the autos and the whole oil complex. they're just not worth the risk. it may turn out to be a very meager reward if there even is one. much more "mad money" ahead including my number one takeaway from the monster move in this market. it's a lesson that could save you a lot of pain. and then we may appear to be back from the brink but i don't know. i don't feel the bottom today. did you? we're going to go off the charts to find out why. plus are you feeling hungry? i'm sitting down with the ceo of a company that has the potential to wet your appetite for wings and profits and no china. stick with cramer.

>> oh, my we learned some valuable lessons in the last few days or we had to relearn them. first let's accept the fact that neither the machines or the people linked with them can be trusted to get the market to work right when there's huge influxes of capital in either

direction. there have been so many computers layered on computers while at the same time the big firms are endlessly cutting back people and capacity so they become a regular option for almost all the exchanges. the regulator versus given up policing these shenanigans and there's never any real investigations or meaningful sanctions. so accept that. stop grumbling. don't trust the mechanics of the market. they aren't worth your trust. companies are, however and the only way to ensure that your protected is to protect yourself. someone sold cvs at 82. celgene was down 30 points and then changed. if you're the one that sold 200 shares at the market at the opening yesterday you got hung. a limit order would have gotten you a great price. your price and the best example

had you used the limit order you could have bought apple at $95 easily yesterday even as you had the knowledge that business sell rated for the company. apple jumped 10 points. the frailty of the markets mechanisms can create values. not just rip offs that burn you. another lesson, you need a second brokerage akounlccounts emergencies. it's just the way it is. i'm tired of people saying the system doesn't work. it obviously doesn't work. no kidding. get some back up protection. you can't wait for the government to help you because the government is not focused on you or your brokerage account. we also relearned a critical lesson. the etf urged charge moment to moment pricing and they can play havoc on stocks you can use to your advantage. the kinds that machines lead to dislocations for. you simply never know on a big buy or sell order from a particularly etf will overwhelm

the system and destroy the stock of a perfectly good company especially as we get toward the bell. corporate buy backs mean nothing on days we have been having. look how we were crushed when the buy backs cut out in the last half hour. most ceos don't know jack about stocks or they don't take advantage of prices. they're just down there to boost the earnings per share and most ceos don't know there's great opportunities to be had for shareholders. i'm not saying they should spend all their time looking at their stocks but when your stock is down 6, 8, 10 points and nothing is happening then you ought to direct whoever is in charge to get more aggressive. finally stop with the fear thing. this isn't the stocks for people that have belief and hope in the long-term progress. long-term progress of companies and their shares. so if you get terrified and sell everything whenever we get hit with a correction, maybe you're out of your league. not everyone has the emotional fortitude doing stocks especially given their ability

to reverse and plummet in hours. in fact as i've said most people would be better served buying index funds in stages over a year's time and accelerating that buying on a big down day. that's your back up plan if owning individual stocks is too difficult. embrace it. martin in pennsylvania, martin. >> caller: hey, jim. go birds. >> go birds, man. absolute absolutely. >> caller: chicago bridge and iron and what's the declining price of oil or any correlation to what i see as a stock crisis. >> a lot of it is involving power generation and oil and gas. they're linked and the projects they have are where the action is which is oil or gas or where the action was. it's on my list of a stock that right now i don't care for. steven in georgia. >> caller: how's it going jim, booyah. >> booyah. >> how are you doing? how is your garden coming along?

>> it's terrific. can't wait to get out there. did a lot of picking today. did a lot of sauce this weekend. it was beautiful out. what did do? made sauce. what's up? >> caller: that sounds great, man. listen, i was doing a little technical analysis today. i see we're getting awfully close to a death cross here on the markets. it looks like the 50 day moving average is about to cross over the 200 day which makes me start thinking it's about time to look at commodities so i was looking at newmont mining corp. they look way undervalued right now and i know itsz like t's like t catch a falling knife. >> i prefer you to do the gld which is the eff for gold. that is a good one. addison in south carolina. addison. >> good afternoon, mr. cramer.

a a former army veteran i was wondering what the fluctuate in the stock market we're seeing? do you see coke being a wise investment although it has dropped last week but today it was up $5? do you think it was a stock worth adding to the portfolio. >> coca-cola 3.5% yield does not compensate yet for what i'd like however it is certainly not expensive historically. if you can get that stock at a 4% yield you can put it away for a long time. the mechanic of the market aren't worth your trust but companies are so stop with the fear. i'll help you get to work. a deep dive into the technicals. find out if we're any closer to that b word. don't dare say bottom until you get my take. wings, beer, sports, interested? i've got the exclusive with domestic players showing sign or life after earnings and let's get your questions. i'm fired up and ready to take

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after a really brutal day that got our hopes up and then crushed them, smashed them

market having it's 6th down day in a row, we need to talk about what makes for a viable bottom so you don't get fooled by the next nonviable bounce we had today. we're still operating as if it's like 2011 that could cause 5 to 7% more down side if we're on that track. with that in mind we're going off the charge. he's my colleague at the street.com who have to tell you is truly awesomely red hot right now to show what we need to see in order to get a believable investable bottom. most people want to say here, this is it. low, no lower but bottoms are less of an ooecht and more of a process. they like to look for 90% down days. days like yesterday where 90% of the volume is down volume or a series of 90% down days to show the selling has run it's course.

beyond that the market starts being slapped around by bad news. we already assume the news will be bad and we're going to need to retest that low and it has a hold. boy are we ever close to it before we can feel we're all confident in the bottom for a number of reasons. first take a look at this advanced decline line for the new york stock exchange. this measures the number of advancing stocks versus declining stocks. this tends to lead by the market by about 4 to 6 months at major market tops and as you can see well that's about peak if you ever see it in april. since then more stocks going down and fewer stocks going up. in other words it's been getting worse and worse for months before the big break down over the past couple of weeks. unfortunately though while it likes the tool for calling tops it's a indicator when it comes to calling bottoms. next important sign of a bottom, the number of new 52 week lows and individual stocks.

check out this chart. it may seem counterintuitive to you. you need to see the number start to dry up. the number of 52 week lows have been declining with each sell off as they troughed in september and november of 2008. that's the big spike you see in 52 week lows in 2008. we got that and then after that it's good. months after the generational bottom. we made 1,154 new 52-week highs. look at this, this is 1,154. this is amazing. that's a lot and to suggest that even if the markets in the process of bottoming, well, we're clearly in the early process. that a lot. >> i don't think it's the financial crisis but just to

illustrate how a bottom might work why don't we zoom in on this new low chart back to june of 2008 through june of 2009. i don't want the anlage. this is not systemic risk to us but sure enough it points out that the highest number of new 52 week lows remain in september of 2008. we saw fewer and fewer 52-week lows in the stocks. then the averages snap back like crazy. when you look at the chart during that period the process of bottoming really did take months. months. not just like hey, that's over. four huge legs down. one in september, one in october, one in november and then one in march and by the time we made the final generational low several groups were making higher lows. the energy stocks and all the high yielders that i told you to buy at the time. this is nowhere near as bad as

2008 but it's making the point that just because we saw the huge cascade of selling doesn't mean the pain is over. it's quite likely the averages could have another nasty down leg and that would fit into our thesis on the show even as some sectors hang in there much better than others and the next sell off welcome the stocks to buy when the current crisis ends and we're back in bull market territory. at the end of the day every bottom is different but cambridge thinks we're likely to head lower next month. september has been the worst month of the year for the s&p. going back it's declined by 1% in september. at which point the market might finally be able to put on a sustained rally or maybe we take out the lows. september is going to be a tough month. here's the bottom line, it suggests it's too early to call bottom. that's what matters. bottom is a process. the indicators suggest we're still in the early stages of the process. my view, you know what, i do a

case by case. there's plenty of stocks still in the blast zones. please stay away but you have to be ready to pick higher quality names you like particularly if they have good dividends because you can never be sure if you're at the bottom but you sure have to start somewhere. stay with cramer.

>> after another gut wrenching day in the market cnbc has got your back. we're focused on everything you need to know about the wild action. what it means and what's going on lying ahead. stay tuned for yours truly and everybody else. we have another edition of markets in turmoil. i'll be joining kelly evans and now sit time. it is time for the lightning round. hear this sound and then the lightning round is over. time for the lightning round. joseph in colorado, joseph. >> booyah from colorado here. i have a quick question on

canadian national resources. i wanted to know your thoughts. >> you know what, you're absolutely right to make that case for it but this is in that sector. the natural gas and crude oil sector that i have said is toxic and i'll not going to go back. it's not bottoming yet. oil goes to 32 we'll take a new look. korey in florida. >> thank you for taking my call. lci. >> look this is a company that -- this is like wayfair to me. it buys a lot of pharmaceutical companies. right now stay put and stay away from it. we'll watch it. nick in tennessee, nick. go ahead nick. >> how about raj. >> thank you so much for a great show and changing our life. >> wow. thank you raj.

>> box. >> this is again i want to focus on the stocks to do well in a bull market. if this stock is doing badly can you imagine the unicorns? because he's doing very well. the billion dollar club i'm calling the $500 million club because box is doing well and it doesn't matter. i like this stock. let's go the flo in florida. flo. >> yeah, it's jim. >> are we ready? >> man, i am ready skidaddy. >> i've had imb stock fbm stock number of years. my dividend yield now is up 3.5% if they don't cut the dividend. i'm wondering what your take is on ibm. >> it would be of great surprise to me if they cut the dividend. they're very committed to it.

they do need to show faster growth. that 30% of the company in analytics that i like so much. if they do that the stock will go higher but right now it's going lower and we need to see the next quarter before you can make a declaration. christian in new york. >> yes, thank you for taking my call. my question is this, how would you grade at&t as a long-term hold versus other stocks in that sector? >> i prefer verizon. they have a lot of good things going for them. i want to see how that directv acquisition is done. that stock is not doing well right now and that is worrisome. ted in ohio. ted. >> yes, jim. >> go ahead, ted. >> i want to buy this stock. i owned it before and made money but they've got a crazy stock split recently that i need some help understanding. it's zillow. >> yeah, i know. i went on twitter and went to twitter to try to get some clarity on that. i think you're right to call it

crazy. crazy split. you need more growth. trusted growth. not to say that spencer hasn't delivered growth. but longer term and not related so much to up and down housing. let's go to guy in georgia please. guy. >> caller: hello, jim, this is guy. i want to thank you for all your advice and all the books you wrote. i read them all. >> thank you. >> caller: i'd like to know about j and j. >> my charitable trust owned j and j forever and we're starting to lose a little faith. we did trim the stock. did not trim enough as the stock now yields 3.3 and is in the down trend. that ladies and gentlemen is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. what are you working on? 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

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>> in the wake of the gigantic sell off like the one we had over the past couple of weeks i always like to search for stocks able to hold up better than their peers. stocks like buffalo wild wings. the beer and chicken wings chain with more than a thousand locations across the united states. this is exactly the largely domestic security play that also benefits from a stronger consumer spurred on by cheaper gasoline. buffalo wild wings was in a real ride and then the stock bottomed in june after it announced it would be buying 41 franchise

restaurants for $161 million and then the company delivered a quarter that was much more well receiv received. sure buffalo wild wings might have missed the top line and the bottom line. they announced to raise them in the near future. stock kept climbing up $198 a week ago. even after this sell off it pulled back to 189 as of today. up 28% when we spoke to the ceo 13 months ago. so let's check in with sally smith. more about how that company is doing. we love talking buffalo wild wings and one of the reasons we like it is because your company throws you a little curveball. >> okay. >> we are gigantic fans. you're looking at our team. we've gotten the draft kings

books. are people going to stay longer and later when the fourth quarter normally wouldn't matter tremendously for those? >> i think so. that's why we have 44,000 draft kits out to all of our restaurants so if you haven't done your fantasy draft yet you should go to buffalo wild wings to do yours. >> i'm number 11 and i'm starting to think that because i won two super bowls it's stacked against me. let's talk about something that most people don't. you have pricing power. you have been able to raise the price. there's been no resistance has it? >> we have been very thoughtful on taking price and we have different menu pricing throughout the u.s. so in some of the higher costs states our menu price will be higher. we always look to that first as we look. it's really to cover our costs and we do think we're still very value oriented. >> i notice this great purchase of 41 franchises in that your own stores are doing 4.2%.

yeah, franchise is doing well too but what's the difference between the company owns stores and are doing fabulously. >> i have to credit kind of all factors operations, marketing, our supply chain as well as our guest experience department in really helping us have the right message to the guest. sometimes the difference between franchise and comp has to do with when we take price. >> prices, exactly. >> franchisees select hair own pricing and make their pricing decisions so they may take more or less than we do. >> august continuing? >> all i can say is we lo love the start of football season and we geared up and hired up. >> let me ask you i have seen preseason, are there preseason crowds? >> there are. i they desire to get into football is happening earlier and earlier each year. i really do. >> i think it's because of the draft. this was a quarter where i actually heard people discuss

that you are starting to get bountiful free cash flow that it's quite different from the old days. what are you going to do with it? >> a couple of things. if we can invest in ourselves that's the best thing to do. so the buy back of the 41 restaurants in texas, new mexico and hawaii uses up a good chunk of that. it will be the first time that we actually take on some debt. we dipped into our line of credit but that acquisition once it's paid for exacerbates the problem. it will generate cash. we will continue to build out about 50 stores a year. we'll certainly continue to remodel but then we need to look at our capital and say what else can we do for shareholders? >> you have the taco and the pizza. i'm trying to figure out, i happen to be in this mexican food. >> we talked about that in the past. >> taco trucks that i actually had to compete against are doing well. your taco concept is a similar

concept. it must be minting money. >> we're in the beginning stages. >> right. >> and we are -- we have a couple in dallas. three in minneapolis. in minneapolis they actually have a rusty taco trust and it has done -- >> it's killing hanit hasn't it? >> it's an opportunity there. it's a great food product and travels and works well. >> it sure does. one of the things when i read your conference call, the fed has to raise rates, you mentioned twice the cost of labor has gone up. is it that tough to find good people now? >> you're finding a combination of things. a little bit more robust job market but i'm also looking at wage rates going up so you have some legislative actions in different states in different cities and that's going to have some cost pressures. restaurants will figure out how to deal with it. we'll become more efficient technology-wise but also then can you hire even better people at a higher wage rate. >> so just pause i know our

crowd is so fantasy oriented what do i get in my kit and what happens and why is it fun to go to buffalo wild wings to do your draft? >> so we have nfl logo items in there this year and we also have a reason for you to come back and that's coupons on food for each of the 16 weeks of the football series and if you want help in designing your logo you can go to our website give us your name or we have a fantasy football name generator and we might pick your team to design an nfl-like logo for your team. >> can you get it so that i have first draft and that i win? you never know. >> i mean, you have to do that yourself, jim. >> i'm looking at our commissioner throwing his hands up. that's sally smith. the president and ceo of buffalo wild wings. this is the kind of stock that you can buy when china is going nuts and you're really worried about the fed. stick with cramer.

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all right. another rough one. our continuing coverage of the market turmoil begins right after the show. i'll be joining kelly evans for live cnb special. the reversal was nasty. it does tend to bring out additional selling. i expect that to happen. we've got your back. i like to say there's always a bull market somewhere. i promise to try to find it just for you right here on mad money. i'm jim cramer and i will see you tomorrow.

there's the opening bell. and almost a complete inverse of what we saw this time yesterday. >> forget about the word volatility. a superstorm sweat through wall street today. at the high point, the dow was up 442 points. >> as of this moment it is the strongest rally of the year. >> almost every year in the s&p 500 are up. >> then a swift and sudden 600-point reversal. stocks closing down more than 200 points. >> a volatile final hour of trading, turning this rally into a decline. >> another wild ride, leaving investors asking, what will happen tomorrow? >> we're in sort of a