>> and risk reversal. >> but i think you wait until it hits $80, soon. >> we'll see if ralph lauren holds the gains. sorry about that ralph, rl. >> thanks tomorrow at 5:00. don't go anywhere. "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. 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 is to entertain you and call me at 1-800-743-cnbc. guess what i've been a bear. this market is horrendous.

the gain gained 42 points. the s&p advanced and the nasdaq declining. but now we have to talk about the phases of the bear. because when you're called out as a bear in "usa today" like i was this morning, and everyone now seems to be talking about a bear market well after i was, you need know what could be be more constructive and why i'm resistant to being constructive despite the endless torture. let's start here, we had the fed, we had the fed doing the wrong things. think about it. one day janet yellen said they won't tighten and then in a press conference she said they'll tighten. then she clarifies in the speech they're going to tighten unless something bad happens which means they won't tighten. they're ready to raise rates in 2015 unless they don't raise the rates in 2015. the same remain adamant it's time to tighten even though things have gotten weaker.

they won't dare that acknowledge that. some of the guys would walk a mile for a camera. nevertheless, the people have worn me down. added tremendous gravitas to the bearish case that i'm using an that i stuck with for some time. sometimes i wonder what i do know that we don't? what's the looming event? are they worried about the possible collapse of glencore that has $50 billion in debt last time anybody looked? they said things are fine. oh, terrific. are they worried about petri bras and what can do to the high yield bond funds or the volkswagen mess, do the fed officials since line carl icahn against high yield bond etfs that many are searching for a yield? i don't know. i have been railing against that since 2005. but hey, so be it.

do they know of a country that's about go under? do they have secret knowledge of a government shutdown? what do you think? do they know about the illuminati? i don't know. maybe something is looming. can't tell. but something is going to cause a lot of woe. if you can't beat them join them. i recognize bad things can happen when the fed raises rates. i wish i had their certainty. but i'm too old. i have lived through too many tightening cycles. i don't like the uncertain political back drop either. the democrats are hellbent as people making money in the market as any politicians i can find. republicans, they don't talk about this stuff. donald trump has a plan, at least it's a plan. pretty pie in the sky. i liked that he wants to get rid of the big tax break for the hedge fund managers. why was i paying so much less than everybody else and making

much more, didn't seem right. we know that good news doesn't matter at all. apple sold many more new iphones so the stock gets hammered. home builders had a big report and nike getting back the gains. alcoa had a restructuring, they can wait. the dollar which is actually gotten weaker against the euro, doesn't matter, because against the rest of the currencies it's going higher. china continues to struggle. each morning i expect to see the shanghai market breach the 3,000 level. so why even bother to ponder being constructive? i think it's a good question. first, i don't hear much bullish commentary from anybody anymore. consensus really right when it's all in in one direction. second, despite my bearishness i get trashed so regularly on twitter there's such a short

term bottom. when you have to resort to posting your fantasy football win to show you're not a total moron and i apologize to the angry loser oand the terrific staffer, i didn't mean it, then you know that community wrath is too great for us to be in the -- again, i feel bad about that nj money. more likely we're due for a bounce because -- because sentiment is just that tortured and ugly. hey, we have a better bounce today. hey it bounced. most importantly and impercally something has changed. when i say we're in the bear market stocks are going down. shocker. of the 1500 stocks part of the s&p baskets 117 are down 50% in from the high. oh, that's plenty. more important, 600 are down 25% from the high. that's staggering. those are just beginning to ponder, oh, it's a bear market.

they should consider the markets. it's entirely possible you need 25 stocks to be down for the carnage. i think there's -- there's more on the way because there are broken drugs, broken partnerships. mostly of redemptions. yes, we should be playing bob marley that redemption song. we'll cue it up tomorrow. you cannot say we are early to the sirens of destruction. as a defender of your capital i won't let my guard down. i won't say nothing has gone down yet and the rollovers have just begun. they have been going on for month accentuated by all sorts of etfs. knocking down stocks, child's play. plus all the markets former phase line fang -- facebook, netflix, google they're in the woodshed. and their shareholders are being

beaten until morale improves. biotech has been the brightest star on the here rison. it's dimmed. and natural and organic are dead. tech, the cloud, sold to you. roll-ups, they have gone from the darlings to the most hated stocks in the universe. i what go as a roll-up -- i may go as a roll-up for halloween. i'm rolling them up. however, there remains some stock i'm constructive on. i'd be buying them for my travel trust. i line diabetes and throw in the rheumatoid arthritis drug. credit swooes said they might have -- i like the fact that hose a big mac kind of guy. there i got four of the s&p 500. i know that's not a lot.

but i'm like the 2007-2009 period i remain convinced it's more like 2011. which puts the dow 7 hundred points lower. and 2011 we had systemic risk galore but it was from europe. we had political nightmares over the budget. this time it's off shore, europe, brazil. got some political toxicity back then too. great, okay, look that's why the comparison holds up. that's my toe tum. here's the bottom line. yes we're paying ahead. but the saving grace we're getting closer to the bottom by the day. while the torture seems endless this too shall pass. rick in new york, rick? >> caller: booyah jim, booyah. >> booyah, rick. >> caller: you look unusually handsome today. >> you're the second person who said that. the makeup person said i looked really good, but the guy i beat this fantasy he said i look like

a -- let's go. >> caller: i want to thank you for the excellent advice you give us in investing. i own stock in reynolds american and they acquired a company and split two for one. the stock has performed very well. today they announced a $5 billion deal for rights to national's american spirits outside of the u.s. would you continue to buy this stock -- >> yeah, i hate the tobacco stocks, i never hit my kids but i would come close if i saw them smoking but the smoking stocks are smoking. that shows you what a bear market that we're in. i'm not recommending joe camel. okay, ralph in new jersey, ralph. >> caller: booyah, jim. my question is china wasn't supposed to be affected and the stock just split so what happened to netflix and what do you think? >> i like netflix, but netflix is part of the cohort that everybody hates so you know you

say you like netflix, it's down seven tomorrow. on twitter some wise guy will say you also stink in fantasy. i like netflix as a company, and long term that will be good, but that means nothing to the people trading the stock and they're dominating the stock. now fortunate they're not watching the show. that gives me great pleasure. jim in california, jim. >> caller: hey, skeedaddy! >> oh, yes. triumphant over nj. what's up? >> caller: i have a -- who loves a jim cramer bobblehead. >> people liked me out there. i guess they don't watch. go ahead. >> caller: jim, in your book, "getting back to even" you talk about picking quality stocks that are in hated sectors and nothing is more hated than oil. >> yeah. >> caller: so for long term investment, when is a good time to start slowly investing in

either eog, clb or mro? >> all right. i had to blow out mro marathon for the charitable trust and i don't want you in there, because it's in the house of pain. but you know what? in fantasy, boom. all right, let's give the bear the due. so much to dislike in the market. it will pass. we'll get through it together. but sometimes it will require fortitude. on "mad money" tonight, shares of novavax is down. all the news is good, but does it matter? could it see a turn around or is the market changed? then blood in the water. i'll tell you why it's predator versus prey when it comes to the market. and one of the biggest open wounds is the oil and gas market. you know what, there may be something worth something in the

carnage. nj money, i love you. >> i love you too. >> 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.

good. very good. you see something moving off the shelves

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it's gotten thinner. even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. how low can the biotech stocks go before the selling pressure eases up and people think of them as bargains? that's difficult to answer because in this market if you don't have any earnings you have no downside protection especially if hillary clinton starts to make noises about the price controls for expensive drugs. take novavax. it's a next generation vaccine

maker who has been the hottest in the market. we last spoke to the ceo after it had spiked up to more than doubling year to date after not seeing positive data on the vaccine for rsv. since then though the whole core has been destroyed and they have been crushed too. including a 40% decline since the beginning of last week. what did the company do wrong? nothing! in fact, there's been very little company specific news with the exception of good news this morning when novavax made the announcement about the maternal immunization program. for example, they released top line data from the phase two rsv vaccine title and a grant from bill and melinda gates foundation to phase the next clinical which starts next year. this is good news, and then it got crushed in part from piper jaffray saying that the results

fell short. the stocks have gone way out of style, and has novavax taken enough lumps or is the hatred for bioteches so great? that's a up to you. let's check in with stanley erck and get some clarity. welcome back to "mad money." >> thank you. >> at one point your stock was up so big, i said this is the most exciting new breakthrough. i saw your stock went down and i said it wasn't a breakthrough. can you talk about the science versus the stock? >> yes, fortunately my day doesn't go up and down based only the stock. we have a strategy and we told you back in january the first time i was on your show that we were going to attempt to complete five clinical trials by the third quarter of this year. one of them was ebola, was was for the flu and three were in the important area where there's been no vaccine even though the industry has been working on rsv

vaccines for 60 years. we reported on one of those about a month ago in the elderly. where we showed something that was a true breakthrough. >> astonishing. >> the first time our vaccine protects and then the hardest population which is the elderly which would predict that it would also protect in the maternal immunization and in pediatrics. so my team today presented a brilliant show which is the data in the pediatrics which showed high levels of antibiotics write would be protective and then where you're trying to protect newborns. so rsv is the biggest cause of hospitalization of kids under 1-year-old in the united states and the most at risk are those in the first 90 days of life. over half the kids are hospitalized. >> this not like the orphan drugs a small population it is impacting, right? >> no, this is broad.

this is a global problem. >> millions. >> millions. and in the elderly there are 2.4 million infections every year and newborns get inspected by rsv. it's a global problem. therein, you know, we have our new partner, the bill and melinda gates foundation, who saw this data, showed that we had high levels of antibiotics in the mothers and those antibiotics were transferred to the newborn as mothers always do. and then we showed that those antibiotics, we have only two months worth of data, but we showed are antibodies levels that they would get the first 90 days of protection which is huge. and satisfied the bill and melinda gates foundation is up that they invested $89 million. >> let's talk about that.

you can take your cue from the stock or take it from people who are smarter than we are. my understanding that's not an easy grant to get. they don't give the grants to anybody, they make it so it's impactful. >> so this -- their mission, one of the core missions is to protect infants in low income countries from death from pneumonia. one of the biggest causes of that is rsv. and so what they have -- what they think the problem they're trying to solve is the drugs and vaccines -- new drugs and vaccines that get approved get approved in the united states and europe and high resource countries and it takes 15 years to trickle down into low resource countries. so their goal is to support us so we'll develop this vaccine globally. at roughly the same time. >> all right. well, what people have to realize again, you can take the cue from the stock. i know the stock. look, we're in a bear market.

i have said that over and over again. but that doesn't mean the facts are bearish. that's stanley erck, ceo of novavax. this will mean something some day. declines in oil and gas mean pressure at the pump and no one is feeling the pain more than exxon mobil. where does the energy sector slowdown leave the largest oil company? cramer's drilling into the details to help you figure out how to play it. is now the time to stake your claim in the oil patch? don't miss cramer's take next.

creditor versus prey. many of your stocks are being buffetted by a titanic war between hedge funds and money managers that smell blood. i know i seems preposterous. how can value be going down because of the shareholders, not necessarily the business? how can energy transfer partners be crushed day after day, including today. just awful. even though it might be stealing, a deal that could be the best thing coming. how can the best of the biotechs be mauled day after day when so many are doing what's right? hedge funds who have often borrowing money to make levered

bets on the ones they love are under fire who sense armageddon and know that shorting the stocks is like shooting fish in a barrel. it's almost as if these kinds of stocks have become zebras to quickly switch animal metaphors. defenseless in the face of marauding lions. here's a company that's a classic roll-up, i have been telling you the roll-ups have to be avoided. it buys other companies and debt funded acquisitions, then slashes research and development costs and raises prices which is why it brought the ire of hillary clinton and others who brought in a subpoena figuring out how they can raise it up to over 500,000 and it's all systems go. stock plunged 16% anyway. down another 5% today. that's easy come and easy go. we know the high yield bond

market, the one that valiant needs to tap has been tapped out. valiant which doesn't buy back shares or buy a dividend has no natural defense against the hedge funds trying to break the other hedge funds. that is what they're doing. that's how it can fall more than a hundred points in the high even as nothing happened over that the political glare. i'm not making a case for valia valiant. it doesn't create value or grow the company organically with anything other than price increases. i do know there was a billion dollars worth of redemocratships throughout today. that's crushing all of them, good and bad. probably not over yet. i think there's opportunity there. for the ones that don't have commodity exposure but you'll lose money because they're redempti redemptions. let me tell you a story. 1998, hedge funds got word that my company was under water, all

true. my fund owned more than 5 3rs of them, and the stocks would be down, pressured by the other hedge funds seeking to break my fund. i knew who was doing it. i was the prey, not the banks, i was the zebra. some of them stepped up to buy some of the stock, unfortunately i had to sell at low prices. you will understand after you read it. suffice it to say, that my mailing hedge fund got hit. same is happening to the energy transfers, which my charitable trust has been buying. we're getting killed on it. horizon, pharma, allergen, bad. platform specialty products, some are doing well. doesn't matter. here's my bottom line. if you own these, take heart, the quarter is almost over. i don't think the redemptions were as brutal as mine in 1998 which brought me a lot of unwanted publicity. even as i finished this the black for the year.

you should like them more lower. but understand they're defenseless right now but they're weakened, flailing shareholders. that's right, hedge funds are going wild. it may be too much for you to stomach. buckle up, because thanks to the precarious state of the owners the pain isn't over yet. >> caller: hi, jim, regeneron is down, now i moved to -- i moved by the comments on clinton, but what are your thoughts? i feel like it's time to buy more. >> there's a company that's doing well and a stock that's doing badly. they are at separate moments and the stock doing badly, regeneron has had a lot improve. but they're $400 stock that's a source of funds, to companies that own it, the -- the hedge funds and the mutual funds that own it, they want to raise case because they have redemptions. you can raise a lot of money

when you have a $451 stock. that's nothing to do with what they have done. it's the mechanics of the stock market. that's all. lance in iowa, lance? >> caller: thanks for having me on. i would like to say we appreciate all you do out here in iowa but i wanted to ask you about enterprise product partners and what you're thinking about them now. >> this is maybe one of the finest limited partnerships, incredibly well run company. the yield is 7% that you can't go near because of the mutual funds selling it. maybe it's at 7.5% but i think we'll look at two years from now, not only were a survivor but a thriver. it does not matter. there are massive redemptions in the master limited partnership. that's my job to tell qulu what's going on as opposed to saying, go buy the shares. >> caller: booyah, my man. i'm from georgia, i'm a georgia

southern, go eagles. just one more time. okay, my time is about synergy pharmaceuticals. the company focuses on the development of gastrointestinal drugs. someone in the early stage clinical trials, the other phase 3 -- >> the stock is up 70% for a year. the stock up in the biotech cohort is going to be sell sell sell. i mean, look at experion so we go back to the regeneron. experion was at 110, today it's down $16. why? some questions raised about the anti-cholesterol drug. be careful out there. there's a struggle eager to break the shares in the companies you own, so can you handle the heat if you own the stocks under fire? be careful, pain is not over. much more "mad money." i'm trying to explain what's

happening. could the sector continue to be a pain point for the market, or some positive signs? let me take a deep dive into the tech nickals and tell you. could your cell phone keep you out of the hospital bed even if you own stocks? i'm focusing on medicine and taking calls rapid fire in the sell sell sell in the lightning round. stick with cramer. tomorrow, kick off the trading day with "squawk on the street." live from post 9 at the nyse. >> you recommend the stocks and you come back and see that on the street. the guy doesn't say you idiot, you put me in j&j. i'm not doing that. that's a win in this market. >> it all starts at 9:00 a.m. eastern. you wouldn't take medicine without checking the side effects.

hey honey. huh. the good news is my hypertension is gone. so why would you invest without checking brokercheck? check your broker with brokercheck.

last night i devoted the top of the show to explaining why this market so hated and i went there again today. in particular there are five groups of formerly beloved stocks that are loathed. these groups are like open wounds that keep bleeding red ink all over the market and pushing the averages lower. except for rare days like today, we got a brief respite from the

selling. one of the most open wounds, a vicious cut that feels like it hit an artery is the oil and gas complex. versus where they were a year ago has caused immense carnage in all things related to energy. from the hideous drillers to solid pipeline players that are being punished. there's a lot of redemption pressure on that group. of course, there's the darrage in -- carnage from the big exxon oils to the smaller ones. it took a gigantic tax cuts because the largest cost is much less expensive, but the weakness in the oil patch has been awful for the stock market. with the declines continually pulling the broader averages lower and not seeing the upside, remember my explanation from last night. the real fear here is that on the bond market side of things investors are concerned that the troubled oil plays may not keep interest on the deal with the petrobras being the poster

child. a collapse in the high yield market as icahn said is about to happen is severely negative for stocks. i want to go off the charts to see what's next for the largest oil company on earth, exxon mobil. something we're doing with the help of robert marino who is my colleague at real money.com and being the publisher of "right view trading company." he's got a novel view here. he actually thinks's possible -- i know this is just amazing frankly, that exxon with its fabulous balance sheet unlike other oils may have been punished enough. in other words the open wound that's the oil patch might be clotting. something that should have a destabilizing effect. his reasoning? look at the look at the charts. the top one being exxon and the

bottom one is s and p500. you see the exxon versus the s&p. for the last month or so, he's noticed a change in the pattern. lately, exxon stopped going down. look at this. it's been consolidated. it's building a base, sideways action. it refuses to go lower. oil has not gone lower it's stuck at 45. bob thinks this can change the short term trend. now, let's drill down into the next -- the daily chart of exxon. because he points out after the vicious decline in august, exxon has spent the past month in the horizontal trading. got a floor of support at the 71.75 area. he's not going as far as calling a bottom on the oil patch but he thinks it's important it went down. maybe because it's got a 4% yield at the levels and the

dividend is completely safe even at lower oil prices because the balance sheet is so good. still, there are other factors that are important. for example, during the time that the stock has traded saidways look at the moving average convergence to convergence line. it predicts the changes in the stock's trajectory. the mack d made a bullish crossover. where the black line crosses above the red one there it is. security might be done going down. plus this indicator has been steadily trending higher. again, that's good. that's caused a positive diversions. the stock might climb soon too. remember, this is a precursor to what's going to happen. next this is a new one for me. the aruin indicator. this is a tool designed to identify changes in the stock's trend ahead of time. basically when the green line okay -- green up trend crosses over the red, it signals a change in the stock's trajectory.

we saw bullish crossover in this indicator right before exxon's brief rally in the spring. then we saw bears crossover in may when the stock began to collapse again. now, this might sound like a silly name for a technical tool, but arune comes from sand script. it's to help you spot when the sun might be rising an they made a bullish crossover last week. might be about to tell you exxon is at the start of a brand-new uptrend. it suggests a potential shift out of the down trend and marino thinks it's looking a lot less bearish. check out the cmf money flow. we only talked about this a couple of times. basically a 21 day average of the act cumulation distribution line. it can give you a good sense of

what the big institution managers are doing. because there are enormous buy and sell orders that leave a footprint. it's been trending higher for a month now. and a couple of weeks ago it crossed above the center line into the positive territory. okay. now this is really important. that reflects buying interest at exxon at these levels. not only is the stock going down, but powerful investors who feel like they're loading up on the stock and that's what it's saying. what does it all mean? from reader's perspective, these are suggesting that exxon is ready to bounce in short term f not necessarily the long term. if the biggest one can recover, that represents the s&p 500. if marino is right, then maybe this environment could become somewhat less hostile although oil has been a blast -- for ages. if exxon bottoming it could take the whole group wit, except those hobbled by debt which are going nowhere. stick with cramer.

on "squawk on the street," wall street is watching. countdown to a possible government shutdown. the consequences for investors. "squawk box" tomorrow.

>> 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.

sell sell sell. when you hear this sound -- [ buzzer ] -- then the lightning round is over. are you ready, skee-daddy? start with edwin in new york. edwin. >> caller: thanks for taking my call. jim, how low can it go? em press energy -- >> they'ring quite well. it's part of the master limited partnership combination where there was $1 billion for sale at the end of the day and the seller listen back. you've got to just wait. it's still going lower. jackie in florida, jackie. >> caller: hey, jim, help, i'm in the house of big pain was steel. >> yeah, i can't be positive about steel because the chinese are dumping steel so aggressively. and as a matter of fact, only nucor is the only one i recommend. i'm sorry, i can't have -- i don't have a reason. let's go to mark in michigan. mark? >> caller: jim, i love the show.

the question is there an hp 2 down almost 40% on the year with the company rumored to split in october. buy, sell or hold? >> i think there are parts worth more than the whole, but technology going lower now. you can own it for a while but more pain ahead. joey in florida, joey. >> caller: thank you for taking my call. it's an honor. >> of course, thank you. >> caller: my company is true blue incorporated trading on the new york stock exchange. >> look, it does staffing, staffing has been really good. i -- i don't think that the stock is done going down. i think it has some room to go. but i like -- but i like the broad -- let's go to beth in new york. >> caller: hold, sell, buy, iep?

>> i would hold it. the man came on and did a very -- he did the problems about the high yield debt so i'd think he's hedged against the worst parts of the market. although i don't know currently what's in it and that's worrisome to me. that's kind of a black box. let's go to joe in new jersey. joe? joe? >> caller: yes! hello, cramer. >> how are you, joe? >> caller: good, goode. thank you for signing "get rich carefully." >> you're welcome. >> caller: my stock is rite aid. >> rite aid is in a house of pain, it's got a lot of debt and the companies that are indebted and missed quarters get punished. i think they have fundamental value and i'm sticking by it after that acquisition. tony in texas, tony? >> caller: yes, jim? is this cramer? >> yeah, you got cramer. >> caller: oh, good. i wanted a heads up on avon products. >> avon, sherry mccoy is a very

good executive but the company -- it's down three. look, let's put it this way. it could go to two and that would be a big decline on the percentage basis. and that ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade. working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this.

all right. i'm fired up about this.

this is a health care revolution begun? for the way we get health care hasn't changed in ages. make an appointment, days or weeks in advance an sit in the waiting room getting sick from other people and finally the doctor sees you for a few minutes, get a bunch of tests, wait for it and inconvenient for you the patient. but change is in the wind. you know how we talk about the democratization of health care, well, tonight we talk to a guy who is the acclaimed cardiologist and from the translational science. he came out with a ground breaking book "the patient will see you now." i have read this cover to cover. this is about the technology wes talk about, the cloud, big data, smartphones, with medical advancing, medical sequencing and giving patients control over their bodies in the health care system. i think this book is revelatory and plain smart which is why i'm

so thrilled to have dr. eric toeber here tonight. >> thank you. >> you have explained it. i saw the gizmo, so i'm going to start with one of mine. i wanted to know because you talk about the fitbit specifically and all the things we talk about. will we have devices that tell us realtime whether the blood pressure is exploding or if we have diabetes. we have a lot of stuff that you brought. walk me through it. >> you've got it. medicine today is one off, you go to the doctor, get a lab test and what is starting right now is realtime streaming in your real world. a blood pressure watch -- it gets your every heart beat. >> we don't have it yet. >> it's coming. >> i heard a lot of false positives. >> device wow a cuff -- it's coming.

and the glucose, the glucose, you can look at your watch and pull up your glucose, a hundred right there, 93, so you can get your glucose through your watch. >> and we had them on. >> these sensors are getting smaller and smaller. less expensive. so, you know, that's pretty remarkable. then what about sleep? we know how important it is. a lot of people have sleep apnea and problems sleeping. there's a ring from finland that's got these little chips in it. and this ring captures the sleep as it appears to be as good as a sleep lab -- >> better than mr. mark's fitbit. very competitive out there. >> just for the movement. this is getting a lot of data that hadn't been captured. >> i thought you had to go on the sleep clinic. >> and you want oxygen to -- while sleeping to see if you drop it while sleeping. who could sleep in a night in a hospital sleep lab for that much expense and have a normal sleep pattern?

so, you know, this is kind of crazy stuff that we can do so much better with this mobile technology in your own setting. whether it's your home, bed room or on the go. >> well, we had two that are mentioned in your book. teledoc, using the smartphone and thur aknows and you're a backer of that. >> yeah. we have the lab medicine going on the same since the 1960s and people have to give tubes of blood, very expensive, can't get the results, now it's about ordering your own tests. you can do it in the future through the smartphone. so it's a segue to that. and drugstores. it's a whole different look that people can get their lab tests and do it themselves. the theme here is about patient generating their open data. >> now, doc, one of the things we have been dealing with is these -- you didn't have orphan

drugs specifically, but you talked about angelina jolie. you talk about she has that brca. we know that there are companies -- we have one that's working on something but when they get it, it costs a fortune. right or wrong. >> the cost of drugs are so high, but the ability to generate the information from a gene mutation to a drug is going to be at an all time fastest velocity. so we have a mismatch. we have a lot of drugs for rare diseases. and they can be really effective. but then we have this other problem which is the extraordinary expense. >> right. now, you know what, i can go down that path because we know the expense and people have complained about it. i want to go down the positive path because you're a positive man. ultrasound, what's going on? >> everything we're talking about is moore's law 50 years ago. >> right. cheap. more more more. >> with the high-tech big ticket items, we have little chips. what is remarkable and hasn't

been seen before is the ability to do an ultrasound through your smartphone. >> through your smartphone? >> this is actually -- >> not the $4,000 ultrasound? >> the 350 now dollars what seen. just pop it into your smartphone like this. and you have the different probes for the different parts of the body you want to image. then you just pull it up and, you know, you can just see in a second i'll show you -- i'll show you the -- this is a heart. my heart that i did over the weekend. through ultrasound. >> but dr. ben lewis is going to be mad at me. he's my doctor, he does my annual physicals. i want that in person. >> well, yeah. because the point about the exam going to be so different. you know, half the expert doctors were tested about their heart sounds and could they hear the basic murmurs and heart sounds and half of them failed. >> doc, i think you have one

more thing to show me. >> the snappy electrocardiogram. you get all the leads like this. >> but that's a $2,000 cardiologist appointment, no more? >> well, this is free. once you have the device that's like $69, you can do a lot of stuff and not only that but you have algorithms that will interpret it for you. >> it will be the patient's own fault for getting it done. the author of "the patient will see you now." boy, this is exciting. stick with cramer. can it make a dentist appointment when my teeth are ready? ♪ can it tell the doctor how long you have to wear this thing? ♪ can it tell the flight attendant to please not wake me this time? ♪ the answer is yes, it can. so, the question your customers are really asking is, can your business deliver?

well, look, there's a lot going on behind the scenes, the bond market, the high yield bond market which funds so much of the stocks, but there are hedge fund redemptions and mutual fund redemocratships that are killing this market. there's a huge amount of money being pulled out. maybe it's because of the end of the quarter, the end of the month. i do believe that will pass, but it is not a healthy market. that's what you have to realize. we can get bounces of course. but the health of the market is being called into question by a host of the different reasons i gave you right at the top of the show. i'd like to say there's always a bull market somewhere i promise to find it right here for you on "mad money." i'm jim cramer. see you tomorrow.

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