>> ibb. biotech index. up today. doesn't build on that. that is what [ inaudible ] is watching. >> i'm melissa lee. see you back here 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 is always a bull market somewhere and i promise to hell you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramer-america. other people want to make friends, i want to make you some money. to teach, coach and putner perspective. call me on tweet me at jim cramer. so long september. good-bye to a horrendous third quarter. where the markets declines almost 10% and every rally was a

trap. a soccer's -- sucker's game. dow gaining and s&p growing and nasdaq growing 2.3%. we didn't see a lot of buying today. we saw an absence of selling. a pause in selling can take us higher but not so high it is worth plupging in with both feet. that's because we are in a bear market. it is like a fever. it does run its course. this is my ninth bear market in 35 years of investoring. and [ inaudible ] was right when he said that all happy bull markets are the same but all are each unhappy in their own way. still love it. so applicable. most of the bear markets had to do with overvaluation coupled with shocks to the system that created a tore of stocks for sale. this is similar to those to a degree. the market did get expensive but

because interest rates were low, valuation was not weightless. not in this country, but overseas, it is running high and spilling over on to our financial stores before and before and before. and that is why i'm adam mant is the 2011 bear market where the s&p 500 plunged 700% from peek to trough. and many stacks far exceeded that decline. if it bears out, i think the dow is 1,000 points away from hitting a bottom. s&p is another 90 points to fall, calling it 5% brxt we can get a long lasting bounce which will allow for serious reconfiguring of your portfolio, if the cause of the chaos doesn't go away. in 2011 we were brought low by washington and systemic risk overseas. and this month i'm going to colorado for a debate among the candidates. and it is going to be a blast. and i'm going to ask about economic data.

and i did that same week in 2011 at the height of the bear market and we we are concerned about the collapse of the sovereign bonds in portugal, ireland and the so-called pigs. there was risk but twas over there. it was avoided by excellent policy changes in europe and the italy tenure which raise interest rate to 7%. and then it went down to 2% not long after. the systemic risk was contained and the market rocked higher. this time the issues are doing okay. better than back in 2011. europe has improved too. but again we're faced with systemic risk. this time for minerals and mining creditors due to the slowdown in china and the huge glut in commodities. we're also faced with the possible government shutdown. and right now it looks like it might just be kicking the can

down the road. these worries and the other forward reserve makes it so no one knows what to do. and when people don't know what to do? they sell, sell, sell. they sell everything. and let me address the micro concerns. in 97 and 98 bear markets, it came from poorly positioned hedge funds that had bet the wrong way. and we got that in spades right now. what else could happen that turned things around. i have seven catalysts. stocks need to come down to levels they are absurd to sell. we rrnt there yet. but further along than we think for those becoming bearish. we see western digital, a chinese business bought 50% of wdc, when the stock was at $69 last night. so you know there is compelling values out there. at least real businesses not to investors and traders, stock jumped 10% on the news as it

should have. and second we need the fed to make up its mind. because it seems like it is in the business of creating uncertainty. third, we need shoes to drop. we are worried about the debt and the $50 billion owed by opec and the copper and trading company and the untold exposure volkswagen has after rigging the emissions test. we'll be under this point of collapse from any of the big black holes i like to call them until they are filled in one form or another. we have a hard time mounting a big move higher without closure. we have positive chatter today about glenn corp numbers. i heard some people want to buy some stock. and we heard volkswagen might not be in saz much trouble and that helps explain some of the rally. fourth, we need to see the dollar stabilize. it can happen. the euro is holding its own versus the dollar. but the emerging market is the source of pain. you can't see it.

and that and the bond market. a rate hike will only exacerbate the issue which can be solved by lower stock prices, especially the currency and dollars in debt. fifth, china has to break out of the funk. not just flailing stock market. i'm talking about industrial production. and take pressure off the high yield bond market which is being crushed by so many companies. carl icahn is right by that. congratulations on the high bond market today. if you are in it, call your broker and get out and come back. and we need to see if estimates are too high. when you put it together you can understand why we have a bear market. but it is not impossible conundrum. especially if we see lower stock prices. but why own anything. and people say sell anything. it is a bear market. it is simple.

remember 600 of the 1500 stocks in the s&p index that i follow are already down 25% or more. as we draw near to my down 17% target i want to be a buyer not a seller. i don't believe the issues are as bad as what caused the 2011 analog. and the 97, 98 were brought on by foreign worries and ended so quickly that you missed the bottom if you decided you could sell everything and get right back in and i don't know anybody who did that and i was if game and i don't know anyone who times it right. i can't be bearish, but i can't be bullish until some things get paired up. it can happen. maybe not overnight. let's go to hannah in florida, please. hannah. >> yes. that's me. i'm a loyal viewer of your show. i bought shale rb cdot a when

you recommended it and averaged the cost down and my question is should i keep buying to lower it or taking into account the recent news? >> okay. this is difficult for me. because in both of those cases, i changed my mind. and i changed my mind because the facts changed rather dramatically and had i stuck with they will, valet royal dutch, it would be horrendous. i decided both of the companies are not to be owned. royal dutch in particular, i think, does not know what it is doing. valet has come down but i think you can go lower. but i changed my mind when the facts changed. and you have to watch the show, not just my twitter feed -- do you see my picture this morning, sleeping in, expecting the futures to go higher. oh, and at jack, congratulations. he is going to run twitter. jack dorsey. to victoria in maine.

>> jim, from the great state of maine. >> i love maine. my college roommate lives up there. what is up? >> i was wondering if i should invest in pfizer. have a small amount in my stock portfolio. >> you should. ian reed is doing everything good. i like what i heard after the clean-up from the recent acquisition. i like the guy. he's not going to set the world on fire but it won't set your portfolio on fire either. sure we're in a bear market. that is all right. it is not here to stay forever. there is a way out. just it won't happen like that. on "mad money" time, whole foods. yeah. anything but appetizing lately. has the company last the recipe for success. maybe we should take a different approach. i have the whole story about whole foods. and mariota, dropped because of the bye week and football season is under way and i'm revealing my dream stock for your portfolio and some are my real fats. and paychecks just reported the

way to make money is if the fed raised rates. uh-huh. how did they do it. i have it from the ceo. i would stick with cramer. >> don't miss a second of "mad money." follow at jim cramer on twitter. have a question, tweet cramer. hash mad tweets. send jim an e-mail to "mad money" at cnbc.com. or give us a call at 800-743-cnbc. miss something in head to mad money.cnbc.com.

is there anything whole foods can do to get some respect from the market or is it time to stop trying to please wall street altogether and take a different approach. maybe it is a wrong way to valuation the company. with a joyful trip with the wife to the whole foods in theig juan asable, we know the stock has been an absolutely dog for ages. this bear market isn't making it

easier. stocks down 40% for the year and only a buck off the 52 week lows. we know whole foods delivers one piece of bad news after another, disappointing quarterly reports and hideous pricing scandal over the summer where the department of consumer affairs reveals the new york stores were over stating the weights of the prepackaged foods to get more out of you. to lower the prices to compete with other retails which is a positive but they won't be doing this if the quarter is going to be stellar. you don't lay off 1500 people ahead of a ball quarter, do you? and when you look at whole foods through the lens of retail valuation metrics there is not much to like here. even after the decline. the last two quarters disappointed investors and had downgrades. particularly after the recent

results at the end of the july. same-store sales grew by just 1.3% and that is pitful. but it sells at a premium than just about any company in the grocery industry. ta tanls smacks of over valuation and trouble based on traditional methics n. other words, i think it is going lower. but maybe, just maybe, the traditional metrics are the problem. perhaps we have to think bigger. don't be confined to the four walls of the spreadsheet canvass. may have we have to evaluate this through a different lens. when i went to the whole foods on a stretch of water -- it is a stretch of something liquid with my wife last week, we noticed it is deeply integrated into the neighborhood with a lot of people having lunch upstairs, the beer garden and customers buying what seems like more inexpensive products and my wife said the prices were much more

compelling, and especially the house browns that are in every aisle. it is in the guanis canal. and it looks clean. a quarter mile away, it looks worse. but when you get closer the goendola that you are in, would be in this stew -- no, worse. in short my whole foods is killing everyone else in the neighborhood. you don't want to go anywhere else so much fun to shop at. but no one cares about that when it comes to the stock price. which brings me to something comarkie said on his company's declining same-store sales number. something i have been bound by too. mackey said, i hope this isn't heresy but we don't maximize

same-store sales but to maximize return on capital. what the slowdown in comps does in real estate it requires us to recalculate with new stores with a lower comp base. he continued, i suppose the good news is even with the lower comps we still found a lot of sites that are going to be extremely profitable for us and profitable for the shareholders. end quote. in other words, what they care about is making money. making the existing stores profitable and then finding places to roll out new stores that will give them a terrific return on capital. and you know what, that is how a private equity shop would manage this company. that is what they are looking for. which begs the question. since they are not getting much love from the stock market, why doesn't it take it self-private. i think given it is level of profitability, start all over. like a quad rupe ill unicorn, i'm bored by that any way.

who did deal with this when you are providing the best grocery store experience imaginable. consider, most retail analysts don't consider about something like sales per square foot. but they mentioned this during the call because they massively outperformed everyone in the business. whole foods averages $936 of sales per square foot. that is dramatically higher than the next kroger at 669 and followed by strouts and fresh market at $449. whole foods crushes the competition. and they have started to lower prices. and how about the invest on capital. how they generate better returns. and a hugely important metric for private and maybe for public guys too. it turns out whole foods is some of the beoic. only fresh market is better than that at 16%.

and they are not as good. maybe wal-mart in third place at 12.8%. they are leaving the rest of the space in the dust. they generated 15% return on capital while still opening new stores this past quarter. and $63 million in long-term debt and $7 million in cash on hand. they could easily buy someone else in the sector and take themselves private. and cash flow, which should also matter. they have generated $997 million in operating cash flow. that is what they make during the current fiscal year. and most went to new stores leaving them with $350 million in free cash flow year-to-date. and they bought back more stock and they could buy back more if they wanted to. in short, it has a nice balance sheet and healthy cash flow, and beautiful stores. and stores are important, alas,

to the happy customer. the deeper you look, not this deep, please. the deeper you look, the more whole foods seems like the perfect candidate for taking private. even if it is held in lower regard by the public analysts and investors. beyond that, i like that the company is rolling out this new value oriented concept, the 365 by whole foods, the one my wife likes so much and is underpriced to what she thought it would be. i think it will recover after last quarter. consumers will move on from this kind of thing. since they are doing the best to offer lower prices than you may real iize. i got to vegetarian kits. you are afraid the getting them the wrong thing. and i trust whole foods for their likes. and i can't thank them how they made the corner of brooklyn and how fascinating it is to see they made so many brooklyn-made products. i think it is a time before it gets any real credit from wall

street and if the last quarter is anything like the last two, it will get sanded in november. and i think this would be the perfect time to it to pause and take it self, and it deserves better. much more "mad money" ahead. where is that guy frack that i beat last night. tonight i'm taking my talents to the field of the financial markets when i reveal my fantasy stock portfolio. and paychex, they didn't need the fed to make it go right. i'm looking at the number fozer the ceo. >> and i'm revealing who, what and where is, stick with cramer.

even in this difficult market where days like today have become less and less frequent, you should think about how to assemble a first class portfolio that can bounce. and now i'm returning to the nfl with this fourth installment of the fan duel football series. drafting a great fantasy team is great when you pick terrific stocks. and if you get people to approach you the same wau you do fantasy football, you can be a better investor. we drafted our quarterback and running back. we picked home depot and eddie lacy, he is a beast. and now it is time to get your fantasy team huge chunk ofs at a time even ppr legs, i'm talking about your receivers. we're going to call in the tight ends too. the receivers are the mastest member on the field who can put

ton of points on the board. so we're talking about the high quality momentum names, super-charged growth rates with upside. if you are looking for receivers for your portfolio, you have to default to fang. that is my acronym for facebook, apple, netflix and google. and many of the stocks have been hit hard. and now they can be bought at discounts. they are on the waiver wire some of these. it is guaranteed they'll go down when they are on the waiver wire. but wait a second. we might get a bounce. you are picking them up cheaply after they've been dumped by desperate shareholders, not unlike what i did last year with tom brady. right before he went back into the hall of fame mode. snap out of it. any way. but at a certain point, the growth stocks become so attractive you have to start picking at them as they go lower. notice all four names rebounded beautifully today in today's

rally. that is what they do. but these are the stocks troubled hedge funds will sell to raise money. which means you can see they are dropped and added, like guys passed around in your league. i know you've got them. and with that in mind, let's get drafting. with an eye for receivers at a discount in the current season and just like the fang stocks were trading compared to where they were now. my number one wide receiver is julio jones, who was strong in 2011 and 2012 until he got injured in 2013 suffering from a fractured foot. but last year he recovered and racked up 1395 yards and still he is a bargain to draft in the second round. as i did in the "mad money" slump where the ski daddies picked up. not to mention being the top overall fantasy player. by the way, i drafted him. this reminds me of google, which after a multi rear rally ran out

of steam last year trading sideways after the company was worried they were spending money on moon shine ideas while losing bread and butter advertise business. just like jones. the underperformance was palpable and continued for the first half of the year. but over the summer they announced a gigantic restructuring and then the stock soared. i think it would be flying high if it doesn't have the selloff, now it is trading below where it was that reported that the recent quarter when it announced the alphabet organization. to me it is the perfect undervalued wide receiver. but that means you get it at a better entry point. my number one wide receiver, cincinnati jj green.

another injury last season. turf toe. and you cost drafted him in the second or third round this year. returning in 2015, amazing catch, two touchdown performance against baltimore. what is the matter with baltimore this weekend. green's stock market equivalent, yeah, amazon. here is another high quality growth company with terrific long-term trajectory that got hammered last year. and they lost patience with the growth now and profitability later shtick. but it is on the bounce back since the company broke out the web services division, they took it separate from the retail side of the business and now there is a series of strong quarters and surging to $580 over the summer. and while amazon has held up during the recent selloff it still pulled back to $512 today. it is not ready to go on to the wall street fas show but this is worth buying on the way down. tell me you don't want amazon to

play this sunday for you. right? come on. or monday or thursday or any other night that the nfl plays. next, how about a tight end. the most versatile position in the feel. requires a player that can run and block and catch them in the end zone like this. you know what i'm talking about. he's been absent for the last couple of games but this weekend, jimmy graham. who got traded in the off season from the saints -- the ain'ts, to the seattle seahawks. in an unthinkable move that raises questions. and maybe because of that, he got picked later, but after a couple of quiet weeks, that is being genteel, he broke out over the bears. seven catches, 80 yards and one big touchdown. in sterms of the stock market, who is like that. like a wide receiver. which is all about offense. and while there is no defensive names in fang, i think facebook may be the most balance to the group. as it was up less and come down

less since the market turned bearish. after a 42% run last year many wondered if it was over valued. and now after a blowout quarter in late july they failed to breach the $400 level. and since then it sunk back under 90. at 95, blink of an eye. at this stock sales, just 32 times next year's earnings given the fact that is cheap. finally, controversial. if you want to bet on a rookie wide receiver, i like oakland's amar'e cooper. it is not just derek carr. he is the highest drafted wide receiver in 2015. and i think cooper is only going to get better. so if you can get them on the cheap in the trade, i would snap them up. dare carr is still available. and cooper's star equivalent is

netflix. because of the valuation, and even if the recent selloff of netflix is still up 100% for the year it is the riskiest name in fang because of that. right now it is a $26 discount to where it was two months ago. and thanks to the tremendous subscriber growth, netflix gets keeper if it goes lower. for your fantasy league, i like jones, cooper, i do like jimmy graham, believe me. the stock market equivalents are the momentum names in fang. with facebook being the most debsive and netflix being the most risky. and i picked up mariota last night. i know he's on a bye this week. if you are in fantasy world, see if he is available. i think he is a still. bill in arizona. >> hi jim. i want to tell you first, that i

appreciate the hard work on your and your staff's part. >> thank you. the staff is unbelievable. you should see how heather gains did with my whole foods motif of pictures. >> i have a basic question, jim. it is as follows: why in your opinion is cisco, which is such a clear leader in its industry so stagnant? >> well, look, first of all thank you for the common spill. and you are right. it sells at a low multiple. i think people don't think the growth can accelerate beyond gdp. i think that is wrong. i think chuck robbins is reigniting the company and i like it. how about to car mine in new york. >> caller: thank you. the stock future is really smelly and that is why i'm buying garlic futures but the stock i'm interested in and i think it is a good buy is am bar

ella. >> as i said to my buddies at citron, it is good. in a bad market, it is terrible. and let's throw in the go pro not so good and mobilize not so good. these are bull market stocks an we're not in a bull market any more. like for a tight end and wide receivers to score in the market, look no further than fang. much more "mad money" ahead. and plus want a head start -- well i have the second largest in small business, don't miss my exclusive with the head honcho of paychex. and plus all of your calls are just ahead, in the lightning round. stick with cramer. tomorrow, kick off the trading day with "squawk on the street." live from post nine at the nyse. >> i can tell you when stocks go

down there are some buyers and they are not just hedge funds. >> it all starts at 9:00 a.m. eastern.

i always say, if you want to

get a real read on the state of the hiring in the country, especially going into friday's payroll report, check in with paycheck. specializing in small, medium sized business and i count myself as a client which has a growing benefits outsourcing business. this morning they reported strong quarter. delivering a $0.07 earning beat off $0.71 got people to take notice. 8% year-over-year. this is much better than i expected since they are still rating for a pay rate hike. they collect interest in the money while they are waiting for you to cash your paychex. the stock jumps $1.62 today. and so let's look at the president and ceo of paychex and welcome back to "mad money." >> thanks, jim, great to be here. >> marty, it seems like two things went for you. first business formation definitely better. but second, per customer, you're

getting more out of them, why? >> well we're selling a lot more product. we have in in bundles and selling more product and offering a lot more product and it was a great quarter on the human service resource side of it which was the h.r. outsourcing and the product that helps clients with the affordable care act. >> i think there is a great moment in the conference call today where they say the other guys give you a piece of paper. we actually tutor people how to do it. that is very true. how do you know what to do and why are the other guys just giving you a piece of paper? >> well, you know, jim, we've been in the business for 45 years and have over 70 people in the compliance department that watch every change and we've accelerated the growth in the operations team that are helping with the faaffordable care act. so we're helping them fill out the forms and at the end of the year and we have information on

whether if you hire the next person will it affect you with the affordable care act. we don't leave it to people themselves. >> and through the conference call and the news release, this is something that companies can't navigate by themselves, can they? >> no. it is pretty tough. even when we take it. we have to get a lot of information from our clients and help them set it up right. but once it is set up, we're able to help them make the decisions on a month to month basis. and it is a very complex order that has come out with the affordable care act. but we're there to help them with it. >> will that go away when everyone gets the hang of it or is it all new business that is an annuity stream? >> well, i think sales are going to continue to pick up through the end of the year. we're still providing the service. some of the competitors have shut it down because they need time to set up the clients. we're still selling it. i think it will have good sales

through the end of the year and pick up again in march when everybody realized they didn't do as much as they should from a client perspective. >> and we've been investigating the p.o. space and one of the companies did botch their predictions for medical costs and it scared me about the whole industry, medical claims cost. how have you been able to not run on to shoez shoals because -- and the company was tri-net and they did really blow it. >> we've learned and been in this business a long time. almost 20 years now and the peo business and we decided you have to have great underwriting and we separate that from the sales. we have a great sales team but even stronger underwriting team who makes sure that the clients we bring in are solid from an insurance and risk perspective and stay close to those clients because we're also their human resource support as well. so we know when the client is making changes an help them through it. >> good. because i don't want to get blindsided on that again.

now we have a mixed blessing. i watched on squawk, you have some creation. we just saw chesapeake. 15% layoff and caterpillar doing layouts. where are we in the business? >> in the small sector, we're still seeing solid growth. it is decreased a little bit from last year's peek but we're seeing four years of sustained higher employment growth in the companies under 50 employees than the base year of 2004 and the index. and the other good thing is we introduced new sectors. we break down the job both bisectors and other services which is discretionary spending saw the greatest index and that is good because people are spending money on things that are discretionary. >> and i know the analyst that have been negative saying until they raise rates, they can't make money. and i think that growth in the human resources shows you are a growth stock and won't sit there

and wait for the fed to raise rates. pretty true, right. >> that is exactly, true. thank you. >> president and ceo of paychex. conservative and well-run with a good dividend. that is what you need in this kind of market. stay with cramer.

it is time. it is time for the lightning round. [ inaudible ]. are you ready? sam in new mexico, sam? >> caller: boo-yah, jim. i'm an eagles fan and should i believe in corvo. >> that last quarter i did not like. if you are going to be in the semiconductor position, stick with the solutions. and to jordan in chicago, illinois. where the bears play. >> hey jim, windy city, grid city, rush hour. >> what is up.

>> in the skyline there is cranes and high-rises covered in glass and your thoughts on the currency headwinds and the construction delays for tigger apog. >> it is okay. when i think of glass now, but if you have coatings and infrastructure i'm send you -- sending you to ppg. and this is down to $87 from $118. >> that one is a -- to ammic in new jersey. >> boo-yah, what is up. >> nod much. today was up. what is happening? >> i have a question for ilmn, pharma company -- >> the stock is coming down because people feel they can't raise money to buy aluminum. this is the best equipment maker. got to take a longer term view. i do like the company. to ben in new jersey. ben? >> reporter: boo-yah, jim.

last month you had the ceo of anovia pharmaceutical on. all good things happened except for the stock price. >> we're in a major bear market for this stuff. this is one where you have to put it away. honestly, i was looking at this -- look at nova evac yesterday. that company is doing everything right and it doesn't matter. we're in a mayor bact for biotech and you have to be patient or come back some other time. and to edna in florida. >> caller: hi. is this jim. >> this is jim. >> caller: hi. jim. i'm calling about new york mortgage. >> that big yield -- it is a red flag. why is it a red flag? quite simply because it is not sustainable. i want to stay away from that. susan in new york. susan? >> caller: hi, mr. cramer. how are you. >> all right. how are you? >> caller: very well, thank you. the stock i'm thinking about asking you is nrg energy. >> yeah, down 44%. it turns out what we want from

utility is steady growth and a good dividend. not some sort of real wild kind of stuff. even though david crane is not a wild kind of stuff guy, that company is perceived as not being a steady grower with a good dividend. so now it fields 3.9 with a decent dividend. to dan in wisconsin. dan? >> caller: jim. when i watch "mad money," i learn something. >> thank you. i try to teach. what is happening. >> i'm been watching jenna morgan and i want your opinion on this one. >> there has been big selling in the pipeline space. i have to tell you if you look at energy transfer partners today which is a big victim, you'll see what it means. kmi is no longer an ilp but it is doing well and i don't care everyone is selling it. rich kinder is money. and that is the conclusion of the lightning round. working 24/7 on mobile trader, rated #1 trading app in the app store.

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all right. what if commodities crashed and none of the producers dlinked. that is pretty much what happened this quarter. is so many slumping double-digits, oil down 25%. there is no supply cuts. that is the supply and demand balance is what went wrong in third quarter. even if it should have went right.

at this moment people want to focus on the federal reserve for any price movement of anything. there is no doubt that easy fed policies play a role since the great recession. no one is denying that. and talking about the fed tightening has created $11 trillion lost in the last quarter. but while the fed is playing a role in the destruction of stock values. real culprit is the commodities market or the spillover of the problems in the equity markets and the lack of common sense exhibited by almost every major preducer and for that we have to go back seven years to the lessons learned incorrectly from the great recession. there were two takeaways. the first was that our downpour turn was much sharper than we thought it could be and that led to hosts of ramifications, including low interest rate and ruled out financial systems. and in short, we wouldn't let a financial crisis to happen again

and the fed won't let us slip back into recession even though it has allowed a lot of country. but away from the country, there was a lot of takeaway. that the united states would be mired, for years if not for offer, with slow growth. while china's star would continue to rise and take up the slack. in many ways, we were viewed as a late stage capitalist nation incapable of gaining footing while china came out with wings on and a emerging market as far as the eye could see. so many decided to focus on china. and caterpillar acquired era, a maker of chinese mining and paid 8.6 brls, all in, including debt, for a making of mine equipment. both were disastrous. era was written off after.

sire us is like joy global. now publicly traded. down 68%. worth only $1.4 billion. i'm not picking on cat. it is better than most. but many of the clients are in the minerals or mining and oil and gas business and that is the global economic weakness because the demand for coal, copper, iron, nickel, steel, was emerging. and to play the china driven coal supercycle. sorry, gone. but yet freeport expanding mining capacity. we are intent on fluiding the world with pa aluminum. ramping production in iron as well as every other oil company under the sun. it was all centered on demand in china. with the last deal glenn corp's $41 billion purchase of

ekstrada. now the demand has fallen off a cliff. but none of the companies has stopped production. petrobras and vail and brazil just laid off 15% of the work force. glenn corp are overstrapped but no one has blinked on the supply front. so there are gluts in every commodities and they are not being alleviated. glenn corp can't go up until copper goes up. that, not the fed, is behind the route. and it hasn't ended because there is still little rationality and hope that china is about to come back. it is tocoence dense that the two biggest worries are petrobras and glenn corp. the worst offenders. so as the quarter winds down, it is not the fed, the decisions made years ago to meet chinese demand that is going away. that is the real issue. not a fed tightening. it is only making things tougher

as the year goes on. stick with cramer. it really opens the passages. waiter. water. so why would you invest without checking brokercheck? check your broker with brokercheck.

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what we saw today was an absence of sellers coupled with nice stuff coming out of glenn corp and a rally in the brazilian real. and maybe no prosecutions for volkswagen. that is enough to be able to say, take us up for another 24 hours. i like to say this, just for your radio, "mad money," i'm jim cramer and i'll see you tomorrow.

[ bell rings ] >> "you don't send a swan down a sewer to catch a rat. [ knock on door ] you send a bigger rat." >> the u.s. government spends billions of dollars fighting powerful mexican drug cartels. >> they have a heavy investment, and they're willing to kill for it. >> but the americans stand accused of getting too close to some of the world's most notorious criminals. >> they are making deals with them. they are in bed with the enemy. >> the big question here is, "what does cocaine and heroin trafficking have to do with u.s. national security?" >> [ wailing ] >> as a brutal drug war raged in mexico, ameran