you move on from that one. >> final trade. >> stock recovery, home depot. >> guy, thanks for being here. >> thanks for having me and thank to all the oa fans for being gracious. >> our time is expired i'm lia messlee we are off nextk don't go anywhere. "mad money" begins right after this 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 a lot of people want to make friends, i'm just trying to save you some money my job is not just to train but educate and train you. call me or tweet me @jimcramer all i can say is thank god it's friday in a week where the dow plummeted 5.7%, not since its

worst five days since january 2016 we're thankful for this, the closing bell you know what, it looks like we're back in several sessions in one-day mode as we were in early february average swing wildly throughout the day. first it was a bull with plenty of green at the opening, then a bear late morning, swoon, back to a presidential inspired bull and hid yoes going into the weak end bear romp. s&p plummeting 2.1%. nasdaq nose diving 2.4% with some big names in there. you know what we had, we had four sessions between 9:40 and 4:00 and it's giving me a big case of whiplash i don't know about you initially things looked strong we got a terrific bounce off of yesterday's hideous 700 point decline. the nasdaq was in free 2358 at one point led by social media.

it was then led by semiconductors then the president held a press conference and on the way out he said to the press that we had a good stock market and he noted that when i came into office the stock market was from a different planet, end quote. h'm. all right. okay those odd word did trigger a rally. in fact, we zoomed well into the black with the same exact laggards turning into leaders. they got poll laxed at the close in the tortuous time hour. in the end we were almost totally berift and the defense fared pretty well in the omnibus spending bill. i think the president has become frightening to investors in the stock market and i think they're fleeing. at times i do wish we were back on that old planet he referenced where there was still plenty of

money to be made, more on that later. first, let's remember until very recently earnings still mattered, okay back when the market was soaring. it was great now we have to hope that maybe things will calm down. the white house starts trying to make deals instead of making enemies and then the earnings will matter again. they sure didn't matter to the market's trajectory this week. we had some very good ones but i live in hope on monday we hear from paychex as things got gloomy, the stock started getting hit. it's down substantially from where it strayed the last quarter. we've had a rate hike since it reported which is bullish for p paychex. plus we had very robust employment i think these guys are going to have a very good story to tell after the close red hat reports and i am concerned here.

no, not worried about red hat the company. i expect the quarter will be fine, i'm worried about red hat the stock because it's gained 23% for the year practically in a straight line almost impossible for any stock to live up to that red hat has enough key reporting variables, a lot of different numbers they report, that i think someone will find fault with one of them i wish i didn't have to say this because this is one of my favorite companies with one of my favorite ceos i would say ringing the register going into the quarter in case we get a confusing report card or someone decides, you know what, it's had a big run, let's take it off the table. we also hear from bill w when i was at goldman, the new york fed chief who's due to retire this summer that could mean he's able to be a little more freewheeling, a little less buttoned up when he speaks which could mean candid discussion about tariffs,

presidential talk and maybe he'll be candid and say he regards this as being on a different planet on tuesday we get results from mccormick. where's my mccormick stuff i used to have some -- someone took away my spice i had mccormick spice. there's been a disparity from the food companies it's been nothing short of it staggering general mills had a horrendous quarter and conagra had a great quarter. it has frank's hot sauce under its wing this spice company is not prone to misses and yet its stock is down 10% already it's tough to bet against these guys at these levels by the way, i understand you can put that frank's on anything and coreen came up with my old bay how could the ravens have been

champions when the eagles are the champion after the -- after the close lu lu lemon reports, apparel is doing very well. the only issue is it doesn't have a ceo then again, it may not need one at 9 moment given how much momentum the company has we hear from restoration harbor, rh they have been putting up strong numbers of late but the market hasn't been kind to its stock after a miracle miraculous run from the mid 20s to the hundreds restoration's now come down to 77 which feels very much like no man's land i think the company is brilliantly run. i don't understand why it's only valued at 1.65 billion, but when you consider it was worth a little less than half that, maybe it's not a totally outrageous valuation if you want to get a feel for the cutting edge of technology, do you know there's only one person to ask. by the way, when we were out in

san francisco i got this from many different people. you know who that one person is? his name is jenson wong. he's the co-founder and ceo of nvidia who's known in the silicon valley as the greatest visionary in the silicon valley. he's known for data centers, gaming, and for autonomous vehicles among many areas. can you imagine? he's been known to move whole markets when he speaks so he'll be paying close attention. we're going to pay close attention to the company's investor day on tuesday. hey, maybe he can get us back to that planet, you know, the one the president referenced i'm kind of hung up on that. wednesday's going to bring healthy returns. how can i be sure? because i'll be hosting some panels for cnbc's first healthy returns conference and it's about all aspects of our seemingly broken health care

system if you miss it, don't worry. i'll be reporting on what i learn during the day and i am on some dynamite panels myself with some really great people speaking of health care, walgreens reports wednesday morning and the drugstore's chain has been struggling to become more relevant part of the problem is that the so-called front of the store has been hurting because the competition from amazon. here's a former market darling that's fallen from the '80s to the '60s over the last year and until recently it was pretty darn good for most stocks. walgreens has been in its own personal bear market or its own planet, the one near pluto to belabor the metaphor. even a good quarter might not be enough to save it. after the close we hear from pvh. more on this later for now, let me just say i bet this apparel companywill put u good numbers just like every other power play we know pva is chiefly calvin klein and tommy hilfigehilfiger

they're hunting for iconic brands that they can hit with retaliatory tariffs. you think apple was down big this week for any other reason no hey, listen, maybe calvin's are on the forbidden list. still, a good quarter does seem in the cards on thursday constellation brands reports. we own this stock for my travel trust which you can follow along where i've got an important speech on monday constellation missed the last time they reported the culprit was the wine business the ceo explained to us that the issue was a short-term phenomenon either way, i think the beer business is on fire. let me give you an audit do you know that cinco demaio falls on a saturday this yeefrmt don't laf. we know a bar that a saturday cinco could be the biggest day that we've ever had. maybe it's the biggest day for constellations and modello brands, too.

it is enough to move the company's quarter. all right. the markets closed for good on friday if next week is anything like this week, the bulls will be glad for the day off the bottom line, hopefully the white house will get a grip allowing the market to calm down so we can get back to a placid planet where we focus on earnings again not government policy or whatever is being formed down there right now. but be prepared for more chaos just in case nothing changes let's take some questions. let's go to john in new york >> cramer, first time caller love your show. >> what's up >> hey, listen, man. i know you love the 3m story but it's been painful, stock down 45 bucks from its high and half of that loss has come this week i'd like to know if you still like the story >> i was talking to jeff and zeb all day today.

they're my teammates for the club and i'll be candid. the company had a conference yesterday, and in it they guided down a -- they shaded the first quarter. it was a shock to me pure shock, and they've got china exposure so, yes, i've been bullish of this company for a long time, but this week was horrendous and you know what, i don't think the stock's done going down. we're going to hold off buying for a while. all right. boy, what a week it's been there's multiple sessions in one and they ended up with the worst one. earnings don't matter right now. the president is bringing some fright to the market i just want to go back to the old planet that he referenced, that really good one on "mad money" tonight, after a brutal week, i've spotted a company that's actually worth taking off the sales rack. i'll reveal the name. then the ceo of newly minted dropbox refused a deal from steve jobs

how's it going on the first day of trading adp and burlington, two private equity backed ipos with very different outcomes coming up, i'll explain how to tell the difference between a raging success and a total flop when it comes to these kinds of deals so stick with cramer don't miss a second of "mad money. follow @jimcramer on "mad money. send him an e-mail or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

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it has been a very rough week for the stock market. but when people panic and the averages sell off dramatically, we all forget that this fear can create some fabulous buying

opportunities. think of it as like a sale at the mall some of the marked down merchandise will be cheap because it stinks, but some of it will be cheap just because the stores and the portfolio managers are trying to unload excess inventory those are the real bargains and when you spot them, you know what, you've got to pounce opportunities like pvh your power company you know as calvin klein and tommy hilfiger. they got obliterated back in february based on nothing in particular aside from wall street cooling on retail it got slammed the rest of this week but this company reports next wednesday night, and based on the publicly available clues, that's what we have to work with, i bet it will deliver a very good quarter. in short, i believe this is your chance to pick up high quality merchandise down 12% from january highs. pvh is cheaper if they give us good numbers next week, i expect the stock to behave like a coiled spring.

>> that was easy >> so let's go over why i feel so confident about this. because nearly every piece of evidence we've gotten so far suggests that the quarter will be very, very robust, that's why. first of all, whenever you value add a company you have to look at how its performance is trending in other words, what have they done for you lately? in the case of big yates, the trend i'm calling it your friend it's beat wall street earnings estimates eight times and they beat the revenue strimts seven out of eight times the only exception was a $2 million miss speaking of guidance, pvh also tends to raise its forecast when it reports it's giving you the classic beat and raise formula that usually produces higher stock prices we analyze this over and over again in get rich carefully. it is the single best predictor of where a stock is going to go. obviously past performance is no guarantee of future results, but it helps to know that in recent

years pvh has become a well oiled machine. the company sales have been accelerating and accelerating revenue growth is something wall street loves so much that we normally just call it by its acronym in cramerica, argh just yesterday piper jeffrey's piper murphy published a bullish note talking about the strength of the company's calvin klein business in asia quote, we continuously heard from our checks that pvh portfolio performed well, end quote. this strength in asia is -- it's a double-edged sword because with everyone worried about china retaliating against america, pvh's chinese business could come under pressure. that's not good. but the company is far more exposed to the u.s. in europe. i would rather have a booming

chinese business -- sorry. a booming chinese business that might come under threat than a lousy chinese business that isn't worth threatening. maybe it's not so much of a double-edged sword after all third, the single best place to learn about anything -- any publicly held company is from its quarterly earnings reports, right? the conference calls the manager told you a compelling story who cares? come on, that was three months ago. wait a second, you've got to remember next month pvh is going to report the fourth quarter results, the quarter that lasted from november to january meaning on the last conference call we heard they already had roughly a third of the latest quarter in the bag and november's already going to be the most important month. you've got that cyber monday thing, black friday, lots of holiday shopping so what did pvh have too say about it here's a snippet from manny tiri tirico he told us and i quote in the

fourth quarter early holiday sales and margin results are running well ahead of our financial plans emphasis by me on the word well, end quote. he said international continues to see, quote, nice momentum and the u.s. business was experiencing, quote, big improvement. in fact, given all of the strength chirico outright told you, and i quote, we can continue to overdeliver against our financial plans, end quote translation? well, that's as close as he can come to saying the estimates even his own forecast are too low. when asked about the north american department store space where pvh makes a lot of his money he was more bullish. he said, i quote, feels like we're going into december with a lot of momentum. i think it will be promotional but not as promotional as last year there will be less goods to clear come january that's compelling. everything we've heard from

other companies reinforces the idea that the fourth quarter was fabulous from pvh's business according to master card, online selling increased 4.4% year over year they gave us surprisingly strong numbers. kohl's grew. nordstrom had a great season best in three years. macy's finally got its act together just yesterday nike reported a great quarter, and i mention this because on the conference call ceo mark parker talked about how, i quote, there's a strong global appetite for athletic footwear and apparel, end quote. by the way, the nike conference call was excellent now if nike's saying that apparel is strong, you better believe that it also applies to calvin klein and tommy hilfiger. clue number five, this is a huge beneficiary. it gets 3/4 of its operating income from over seas.

when the dollar declines, pvh's products become cheaper in foreign countries and the foreign earnings translate into more green backs that's what a waerk dollar means. this will be a major tailwind for the quarter when the company reports next week. six, because pvh is an apparel maker, it doesn't have the same woes as bricks and mortar retailers that need to compete with amazon. think of them as an arms dealer to everybody including amazon. together with amazon they created a bunch of calvin klein pop-up stores in new york and los angeles. i had a very good feeling about these numbers. this was a holiday exclusive why? they had been open for weeks at the time of the last call. that's why i think the stock is a buy. i have to give you the caveat here even if the numbers are excellent, if chirico says anything worrisome about the

escalating trade deal with china, it could torpedo it they've got major chinese exposure they might be natural targets from the chinese government. then again, most of this stuff is manufactured in southeast asia, latin america, africa. a tariff does more to punish bangladesh than the u.s. heck, a lot of it is not even made in the u.s. here's the bottom line, even with the new found trade war worries, i think the stock of pvh has come down too far too fast this company is set to report what i believe will be a terrific quarter next week and given how well apparel has been selling, i think it's absolutely worth buying ahead of earnings much more "mad money" ahead. dropbox just made its public debut and its shares soared. i'll tell you if you've missed your chance to get into the

largest tech ipo since snap. i'll teach you how to spot a beaten down winner and a loser that deserves that beat down and trump's big short. what's our president thinking? and does he have a plan? i'm going to talk tariffs, trade, trump stick with cramer.

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if you were paying attention over the course of the session you know this was a white hot deal for the older generation who may not be familiar with this one, dropbox is a cloud based storage play they let you access your files over the web anywhere at any time this is exactly the kind of stock that wall street wants right now. no wonder the deal ended up pricing substantially higher than the original range of 16 to 18 that eventually got raised to 18 to 20. dropbox actually came public at 21 and then it opened at 29 which is where it stayed at this point though none of that is really relevant, is it what you need to know is whether drop box is worth buying at these levels so let's try to figure this one out. first of all, drop box is a company that's changed a lot over the course of the short life span. it was founded in 2007 as an online storage play. an easier way to share your data across multiple devices. since then the company has become more of a digital collaboration platform their software helps you

minimize how long you spend on tedious tasks. for example, a few years ago expedia bought 10,000 dropbox business licenses when they realized that their employees were already using a free version to coordinate projects all over the world dropbox may be new to the market, it's not new to chaim americans. remember this when we first heard about what an amazing growth story it is from an even younger drew halsten take a look. >> dropbox, you're now 200 million users. how quickly did that happen? >> it's been moving. last year we were at 100 million. this year we're at 200 million it's been like that since the beginning. >> i think i looked younger. well, that was five years ago. anyway, that's one of the most impressive things about the story. product practically sells

itself dropbox gives away free versions of their storage and collaboration software if you want more storage space or functionality, you need to pay up for the professional version. no wonder they're going from 200 million users when we saw that video, that's when i interviewed drew in 2013 salesforce dream force to more than 500 million registered users today that's very good growth. that's half a billion people using dropbox and spreading it like a virus to their friends and family and co-workers. of those 500 million users, 100 million have different users they don't need to spend that much money on advertising because 90% of their sales come from people upgrading on the website or the app you get using it using the free version. then you use dropbox plus and then you get your boss to

upgrade. great business model we like the story. what about the actual numbers? i think they're pretty impressive last year dropbox generated $31 billion. now it's down 40% in 2016 but still pretty much in line with the other major players in the cloud. the company's gross margin, what they make after goods sold, surging from 32.5% to 66.7% last year as dropbox gradually gets closer to turn a profit they expects they will go positive the cash flow is up 122% last year these are great numbers. balance sheet, clean as a whistle. the company is using the proceeds of the ipo to pay back the modest amount of debt. it has $40 million in carbon the balance sheet. given they just raised 600 to 700 million, dropbox is going to have a pretty deep pocket, wow, for a newly public company, certainly more than most of the

ones we've studied let's go deeper. dropbox has more than 11 paid users. last year it grew by 25% it's down from 30% in 2016, it's still a strong number. the company's revenue has been rising albeit fairly slowly the keenum is if it can keep turning its free users into paying customers i think they can dropbox has gotten as large as it is mostly through word of mouth. imagine what they can do with nearly $1 billion in catch tosh invest in growing the business it needs to convert 2 to 4 million free customers into paying ones each year. that may sound like a lot, but they have 500 million free users so we're talking about less than 1% on top of that they've made some smart moves lately earlier this month dropbox announced a strategic partnership with salesforce.com. this integrates salesforce's

software with dropbox's cloud collaboration. i'm a fan of dropbox and the company and the ceo drew ha houston. can i really recommend something that ran up 40% in its first moments of trading that's the question. what are we willing to pay for the stock of dropbox so let's do the numbers and what we call the comps. at these levels the stock is trading 8.5 times next year's sales estimates and one of yesterday's earned that might sound expensive but it's in line with the other kings of the cloud adobe, salesforce, red hat, splunk, vm wear, they sell five to ten times next year's sales

if you try to over value it, it looks higher than the others it means it will take a few years before it makes sense to value the stock on an earnings basis. in short, dropbox is looking like it's one of the kings of the cloud. does it deserve to trade like a cloud king i think so i'd like to wait for a pull back before telling you to pull the trigger, but you know what, i'm not sure you're going to get one. bottom line, look, you need to be careful with these red hot ipos that said, i feel comfortable giving you my blessing to speculate on dropbox notice the verb, speculate there aren't that many first class cloud plays out there, and the group will only come so attractive if they keep freaking out about a trade wall in china. this is the secular growth theme that keeps working even if the economy slows down i say put on part of your

position and hope the stock of this incredibly well-run company gets slammed so you can buy more later and lower. john in my old home state of pennsylvania, john. >> jimmy boy, how are you today? >> man, i don't know getting the stuffings kicked out of me. how about you? >> it's a rough one. it's a rough one. >> it is rough. >> doing some work getting my car done i'm calling toyota announced a collaboration with savetel a national telco company i want to know, what are your ideas on twilio. >> i like them but it's had such a big run, everything is coming down we have to wait for this one to come on down with it because

holy cow sellers were everywhere. dropbox, congratulations to drew houston. this made a fabulous wall street debut. you have my blessing to speculate on this and hopefully with a pull back think security company, adt and retailer burlington don't have much in common think again. both are privately backed ipos and they can teach us an awful lot about how to speot a winner and a total loser. whatever happened to president trump who loved the stock market after a tough week for the averages, i'll tell you if attitudes have changed, his or ours and all of your calls, rapid fire and the lightning round and a look back at this amazing and terrible week that was so stick with cramer.

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on yet another ugly day for the averages, we've got to take a deep breath and think about the best way to pick stocks. how do you tell the difference between beaten down winner and a loser that deserves to be

knocked flat on the canvass? tonight i want to answer that question with a little case study of a certain type of company, and that's the private equity backed ipo. a few years ago it really seemed like the private equity guys were trying to take over the world, buying practically anything that wasn't nailed down borrow a bunch of money, acquire publicly traded companies, cut the expenses to the bone and sell them back as everything in the market, not all private equity backed deals are created equal. if you want to know what a total dog looks like, check out adt and that's andy dave tom the maker of security systems that came public again two months ago the stock's fallen from already discounted ipo price of $14 to $8 and change in less than two months no one wants to go near this thing. the reason, adt was taken private by apollo about two years ago.

it doesn't seem to have benefitted very much under its time dip with apollo it's gotten worse. some people like to describe private equities like vulture capitalists. i think that's very unfair when these leverage buyout artists do the job right, they can create tremendous amounts of value including for the public share shoulders they sell the merchandise to for that i want you to look at burlington stores. they began less than five years ago. when burlington coat factory was known then got taken private by bain capital, the company was a mess since becoming public again the stock has rallied more than 600% come on, that's an incredible win. some companies do, indeed, come out of the process much stronger being private means they can make tough decisions

outside the public glare in order to get the business back on track again so how do you tell the difference between an adt and a burlington stores? how do you know when a private equity backed ipo will work out and then when it won't okay let's look at adt. the modern incarnation of this company was created when tyco spun off the security division in 2012. adt was taken private by apollo global management in 2016. apollo brought adt public in january. that should have been the first sign that something was wrong. this whole process seemed very rushed to me the whole point of the process is that the leverage buyout guys do what's necessary to make the business better. turnarounds take time. the ipo was a bust adt's first quarter reported a

week ago was downright awful the company is not even turning a profit honestly, if you stuck around until last week you he weren't paying attention because this thing was doomed from the start. the lack of time spent private was a real red flag. this is a sure sign that a private equity shop is looking to unload a dud investment because presumably they don't think it's worth the effort to try to turn things around. that's my opinion. second, in the time since adt went private, they've gotten a lot more competitive it wasn't like they were in great shape before the apollo bid. while the company was private they figured out how to make home security system now you have apple and alphabet making home security systems every private equity firm and backed ipo has a lot of debt adt's balance sheet is particularly ugly. they had a $5.4 billion in long-term debt before going

private. that has now ballooned to 10.2 billion by the time of the ipo in january this was borrowed to finance the leveraged buyout adt would have been better had it never gone private. if they didn't turn it around, what the heck did apollo even do with adt what they did was they merged it with a couple of security companies like protection one and asg and installed protection one at the head of the entity. this is a stitched together monster of a business and you can see that in the ipo prospectus which was full of all kinds of adjustments the idea that apollo would take this public after a major transformation almost defies belief but the worst thing about this deal is it didn't have to go this way they can do a lot better and for that i wish you would consider the old burlington coat factory.

an ailing company taken over by bain capital they're turning the business around and when they finally took it public again in 2016, wow, it was one of the hottest deals around with the new burlington store surging 47%, it's up 670% from the ipo price, up 420% from the first close. that is a huge win let's compare them point by point. unlike adp, burlington's owners took its time, spent seven years turning the business around and turn it around they did. when they went private, they were down but when they went public they grew the business dramatically they cut costs burlington's debt load when it became public again was manageable, 1.7 billion. quickly cut down to 1.4 billion using the proceeds of the deal unlike adt, burlington kept

things simple giving investors a nice, clean story. sure, bain paid themselves, but you know what? they earned it i know the two businesses aren't comparable, but what happened when they were private, i think that's a good comparison the bottom line, the next time you see a private equity backed ipo, i want you to run the other direction. when they take them public in less than two years, it may be a sign that something is wrong when they take their time though like bain did with burlington stores, these so-called vultures can work miracles. these are the type of ideas we're looking for. when i spot one, i'm going to be the first to tell you about it hi, i'm bob harper,

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it is time it's time for the lightning round. buy buy buy, sell sell sell. and then the lightning round is here are you ready. time for the lightning round melissa. >> caller: hold sound. >> i'm holding it.

this company is doing much better than any other company in the business stay long. zot in florida scott. >> caller: hey, jim, how are you? rough day? >> yeah, yeah, i feel you. but this is scott from west palm, the famous winter white house. >> yes. >> caller: question for you, psec, your up side on that >> no. i think it's -- you know, i think things should be concerned. i am not going to recommend that stock. ron in pennsylvania. ron? >> caller: hello, jim. >> ron >> caller: jim, i, too, have shed tears of joy when the eagles finally won the big one. >> yes what's up? >> caller: my stock is cypress 1. >> the real estate investment company doing poorly when that stock goes between 4 and 5%, i'm going to say bye let's go to gino >> caller: on semiconductor.

>> i like that one paul in texas. >> caller: boo-yah, jim. >> boo-yah. >> caller: my stock is altice. >> not going to be there nor me. mike in missouri >> caller: jim cramer, how are you, baby? >> i am good struggling to get through. how are you? >> caller: i am good cypress semiconductor? >> that's a very good semiconductor, however, there is a lot of speculative money i think it can go down to 16 that, ladies and gentlemen, is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade hey, jim cramer, boo-yah. >> greetings from cramerfornia. >> boo-yah, jim cramer, from one

of your biggest fans in texas. >> i've been a new york jets fan in new york, i'm done. i'm staying green. >> right there right here can you imagine that thank you for the lucky eagles for giving all of us from the city of brotherly love a reprieve from our terrible nasal twang. a retailer with a superior attitude and superior state of mind >> can i do it once, jim >> yes >> boo-yah >> all right which one should i hit >> yeah. >> the bull market >> oh! >> oh. wo dogs and jake, our new parrot. that is quite the family. quite a lot of colleges to pay for though. a lot of colleges. you get any financial advice? yeah, but i'm pretty sure it's the same plan they sold me before. well your situation's totally changed now. right, right. how 'bout a plan that works for 5 kids, 2 dogs and jake over here? that would be great.

that would be great. that okay with you, jake? get a portfolio that works for you now and as your needs change from td ameritrade investment management.

is president trump short the stock market i know he's not betting on stocks, but when i try to make sense of his recent actions it's like somebody at the white house after generating fabulous oom b louse amounts wants it to get crushed. now it feels like he's decided enough with the stock market time for a new thing to brag about. humbling china whenever he talks about how strong the market is, as he did at the end of today's press conference, a little voice in the back of my head wonders if you were a hedge fund manager, which he isn't, he's trying to pump up the averages i know that's not the case

i would feel comforted if it were true. the recent moves in the administration would make a little sense because the way this trade dispute with china's been handled it is, indeed, as if the white house wants the average to go lower. if you wanted to crush the market you'd start attacking the chinese out of nowhere after slapping tariffs on steel and aluminum with no idea of how to implement the policy think of how they've handled the steel duties our steel producers say the chinese have been dumping. everywhere else that punishes and pushes the prices down hurting our producers. so the president decides to slap a duty on all imported steel to ensure that the chinese can't sneak their stuff in through canada, mexico the steel stocks jump because this was very good news for them but then it turns out that, surprise, the whole world is mad at trump because other countries don't like it when we slap tariffs on their exports out of nowhere. the president doesn't want everyone to hate him so he appoints larry kudlow. kudlow is incredibly nice and he

can explain to our allies how trump is doing the right thing the next thing you know, they walk back the steel tariffs with most of our allies so the steel stocks get slammed that are well below where they were before the tariffs were put on. is the exercise pointless? yesterday the president unveils the new tariffs on china, 50, 60 billion. the policy is being rolled out incoherently they're supposed to fight intellectual policy theft. we don't know which products they're going to be applied to the chinese had a whole host of targeted tariffs ready to go as soon as trump made the decision to go after them they were ready. here's the thing, i think the president's plan is justified, but if you want to beat the chinese government in a trade war, you need to outsmart them there's a cost to fighting back so it's not worth doing if we aren't going to do it well china spent the last year preparing for this we can't threaten them and slap on tariffs and no bargaining being done especially if we haven't decided

what we're going to put the tariffs on what does that accomplish? that's why i asked facetiously about the president being short. of course he isn't short stocks. you have to wonder what happened about the guy who used to grade his job performance on the performance of the market. as long as he's antagonizing the chinese with no objective, he'll be a headwind for stocks, not a tailwind suboptimal and ill-advised situation indeed stick with cramer.

you're gonna do great! thanks, dad! break a leg! aflac?! not that kind of break. oooh! that had to hurt. aflac?! not that kind of hurt. yeah, aflac paid us cash in just one day to help with our car payments and mortgage. aflac! perfect timing! see how aflac helps cover everyday expenses at aflac.com.

it's still in one piece and i know it's cinco de mayo. let's face it. this was one horrible week, and we've got to just stay calm. we're going to get through this. next week it may not be any better because i don't see any numbers that are going to change this i like to say there's always a bull market somewhere. right here on "mad money", i'm jim cramer and i will see you monday

>> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ with a product she believes will help cat lovers everywhere. ♪ i'm rebecca rescate. i live in yardley, pennsylvania, with my family and my loving cat samantha. a few years ago, we were living in a tiny apartment in manhattan. problem was...as soon as you walked in our front door, you knew we had a cat. you could smell the litter box