dvr. >> infamous. >> still is apparently where does seabrook. >> and last week they put a $18 price tag onio my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to cramerica other people want to make friends. i'm just trying to save you some money. my job is not just to entertain but to educate and teach you so call me at 1-800-743-cnbc or tweet me @jimcramer. nothing hurts worse than uncertainty. witness today's brutal beat down with the dow jones average plunging 392 points.

s&p plummeting 1.6% and nasdaq losing .5% we have uncertainty in italy and in spain or gen tina is sky high interest rates as does turkey brazil has a trucking strikes that is looking like it can grind the economy to a halt. so what happens here our markets get crushed. you could argue and i am going to argue tonight that this stuff is good. it's good for most american companies because it pushes down our interest rates in fact i think this european turmoil is positive for the united states. yes, you heard me, positive. it doesn't matter, we get slammed anyway, could happen again tomorrow why is that? it is true that the market can end uncertainty.

you are never ever going to rally on that kind of thing when it happens second, third, many people who think a crisis over there, wherever there is will mean a crisis here. the 1994 tequila crisis, mexico peso crash we had doozie crisis more recently european crises. as we wonder how our banks will fare and which ones go under plenty of investors are looking for any excuse to take profits and international crisis makes for a great excuse even as i doubt the italian situation will have an impact on our economy as

well still i totally respect the decline and caution that this sell off could have legs as there are people who react with fear themselves. but why am i so confident that this european inspired panic will only turn out to be a buying opportunity if not now but definite whether it settles? causing interest rates to go down, and down fast. last week when i saw that oil could go down hard, i predicted the yield could go down. however, i also said that officially, we are going to be in a heads the bears win, and tails the bulls loses. it was the trade war with china that made an uncomfortable time for the bulls. so their stocks had to come down

earlier this year when the trade hostilities commenced. the bears cannot have it both ways they have been spreading panic for months about rising interest rates and now those rates are rising hard and that is a good thing. they tried and they succeeded. stock that toll brothers got hammered last week why? mortgage rates, they could be done going higher for the moment, that is good housing is a big visible group that has become mired in a bear market what about the financials? aren't they going to be hurt well that is more complicated question banks need higher rates to boost their earnings if the economy stays strong however if the feds raise rates

to aggressively, the economy will weaken and the banks will miss their numbers they need measured rate hikes that won't torpedo the economy how about the european banks there is that uncertainty element but i can assure you that the italian government will save you credit. germany, it is a total club. and the club is way too many members in it who worked at or kn know deutsche banks. it is all good news and you are going to have to step up to the plate and buy the stock at jpmorgan more on that later

u.s. companies that may be tempted to issue bonds overseas, they are going to go to u.s. banks and not foreign banks to do their business. that is great. it gets better the truth is that our banks had to recaptalize a long time ago even if we accept european weakness can be a positive, what about the bears. now, not only is that decline bullish, as we know retail benefit from perhaps lower gasoline prices. plastic is one of their biggest costs and it is made from petroleum. lower raw costs and their yields are more competitive versus

treasuries some will be more pronounced if we get a weak number from unemployment how about the dollar, jim? honestly, the dollar feels like a side issue to me when it was going lower, it didn't help as much as i thought it would and the bears kind of succeeded in that narrative, can't have it both ways. the real problem has been rising raw cost i like clorox here as it is much less exposure to overseas market and don't have to worry about the dollar unless you care about it consider pepsico a buy. the sellers of the s&p 500 will be the buyers of the small mid cap tomorrow they don't know the difference

from the buying party of italy more iortantly, none of this matterto american companies that don't do business in rope we forgot about those today, didn't we? finally, things are incredibly strong for many u.s. companies worldwide. like the numbers we saw from salesforce lower interest rates wants you to pay more for those earnings lower rates, lower gasoline, more purchasing power for homes and cars something that is bad? no, good we just have to wait until the sellers come to their senses and realize that sometimes uncertainty can indeed lead to good outcomes. there i said it. come after me. jerry. >> caller: what do you think of

buying shares in southwest >> it is time. oil is coming down i should have pulled the trigger today. chris in indiana >> caller: booyah. i am a first time caller and a long time viewer if the workers at mgm casino in las vegas go on strike, how will that affect the market >> mgm is a good buy mgm is very, very good sure, uncertainty is scarey, but sometimes it leads to good outcomes this is something that i know because i have been doing this for 40 years now wait out the sellers and maybe they will come to their senses eventually. crisis in the tape today, but do i dare refute? i am going to tell you why i disagree with the sell off throughout this whole, whole show

and salesforce's goal of reaching billions of dollars of revenue, got more realistic. the one and only marc benioff. hot commodity is back in the decline. which direction do you trust i am going off the charts. and stick with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something ado dmoney.cnbc.com. into retirement.

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there was a time when the big banks of the world were on shakier footing. try telling that to the sellers who panicked today in the old days it made sense for the u.s. market to go down at the time the central european banks were raising interest to fight nonexistent inflation. raising interest rates twice jean clawed van dam would have been a better central banker the turmoil caused buyers to avoid new italian bond issues. sound familiar the spill over was instant

the do you plunged 389 points. in a move that was catastrophic th it was ridiculous i say diculous because in retrospect no impact what over took over the ecb and started his buying program which made it the most greatest single investment in history. the carnage was concentrated and individual finances over the globe. let's stick to home. jpmorgan stock dropped get this, 28 bucks, do you know when was the last big buying opportunity before the stock quadrupled the scare sends the premier

financial down hard. and then get a big run i am sure people are saying scarey, i am going to sell jpmorgan down at 100 and let me tell you something, it is very akin to 35 to 28. that is how it works in real world. but now how it works in emotion world. the panic comes first. i am shower i am sure we are going to get word that deutsche bank is ready to collapse. nobody likes to say, you know, listen, i am not going to shoot. we all love to hear, if nobody shoots nobody gets hurt. and still others say europe will

delay rate hikes or the banks rate margin won't go higher. and believe our banks are still on the hook for european banks and that is not the case now, as i mentioned at the time, european turmoil is good for our banks. no mortgage market wealthy italians much rather have their money in our banks. and let's be honest, there are good reasons for italy's political instability. incredibly difficult to do business there these crazy seems to last forever, too many moving parts strange fusion of donald trump and bernie sanders the last time italy caused a

gigantic selloff, i was on a panel asking what they do about the european debt crisis playing the general skeptic, i scoffed at their lack of knowledge. if they were right, it didn't matter so we keep getting slammed by italy and we will just get better and better buying opportunities. next stop, how about 200 much more "mad money" ahead. oil, oil, double and trouble going off the charts of the spell that is being st on i am going one-on-one with the visionary ceo of salesforce to talk about one more record unbelievable broken record quarter. and then time to talk trash. sitting with the ceo of avanta stick with cramer.

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the price of oil plummeting down off the news late last week that saudi arabia and russia are boosting their output. i think we need to go up the charts with the help of carly garner e author of hier probability commodity. good tractor when it comes to predicting the price of oil. she thinks a break down to $55 is a lot more likely from these levels from a break out up to 80 let's remember how oil ended up crossing the $70 threshold

you had opec cutting production and garner sees all of this in a perfect storm. these levels represented irrational exuberance. the idea of going to 80 is as likely a hockey team from the dessert winning the stanley cup. of course the golden knights just won the first game of the finals so still there are a ton of reasons to believe that oil is to go lower. producers have been ramping up pretty aggressively. we currently have 1,059 oil rigs up and running in this country, up dramatically from 2016.

definitely enough to give us production growth. let's start with the weekly chart of west texas. which contains the commitment of traders report every week data is released. garner views this as a terrific way to measure the overall level of panic now for months she has been concerned that large speculators are way too bullish. historically the oil futures market is like a seesaw. while the recent pull back has lightened up the bullish side of the equation a bit her view that kind of thing inevitably leads to a big liquidation. and you can see, look at it, all the way up there it doesn't mean that we will get

a liquidation immediately. however, garner notes that when you have too many bulls it does tend to keep a lid on rallies. when we checked in on her in january, she told us she was concerned about this dynamic and since then it rallied. here we are at the end of may and come right down to the mid-60s. when everyone is bullish, hard to drum up new buyers. everyone is in the pool. there are roughly 634,000 net long positions this is not that far from the all time high of 740,000 and much higher from the 2016 low of 150,000. what does that mean? garner says as some part of the fundamental picture deteriorates, we can really get

hammered here. the decline in recent days can be just the beginning. check out this weekly chart. while the recent pull back in oil has been swift, holding its support at $65 when you look at momentum indicators, the rsi or the williams percentage r oscillate, there are both rolling over here after peeking over extremely overbought levels. so what happens to oil when the relative strength index has fallen hard? garner notes on three of the last four occasions this has triggered decline of $12 or more on oil look at this one, holy cow the only exception was in february when we had a $9 break

down given that the rsi or william's percentage is still in the middle of the channel, that's very far from an oversold reading. well, you would suggest that oil is due for a bounce, but not where it is here garner believes that crude has more room to decline, maybe there to there which would then add up to something like that which obviously would be a lot worse than that. if oil holds to 60 bucks she would be neutral you can see these different levels of support here less likely, oil could break down to the 40s. the low it goes, garner will like it and recommend purchase bu but that to go that first.

still think about it, a pretty lousy risk reward. one more weekly chart that makes garner feel uneasy and queasy, this is crude oil versus the u.s. dollar. until the pull back, oil and the dollar were moving in the same direction. garner says it can't last. so when the greenback goes up, the greenback, the red, goes up then oil should go down. that is the direct correlation right here oil has gbegun to do just that. just from this messed up relationship with the dollar, we should have more down side bottom line, the charts as interpreted by carly garner, she is saying more pain. i think we he to take her more seriously. she has been tooht to

ignore joseph from california. >> caller: thanks for taking my call thanks for the wisdom you give to us average joe. i was wondering of crc, is it time to take the money and run >> my inclination is to take the money and run. that is not a great company. i think you should take it off the table and be glad you got the gain jack in ohio. >> caller: thanks for taking my call dominion energy, hovering around the low for a while. they are going to raise their dividends add to my holding or pass >> i would add making a difficult acquisition you are buying at 5%, yoi don't

think there is a lot of downside here, one of the best run utilities in the country the chart suggests this weakness in oil could continue. i don't trust it still ahead, salesforce is more than just a tech company i am talking to marc benioff a fantastic view forward about what is going to happen. this company is changing the world. one man's trash your treasure? find out if it can make a winner tonight's edition of the lightning round. stick with cramer. ♪

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with pg&e in the sierras. and i'm an arborist since the onset of the drought, more than 129 million trees have died in california. pg&e prunes and removes over a million trees every year to ensure that hazardous trees can't impact power lines. and since the onset of the drought we've doubled our efforts. i grew up in the forests out in this area and honestly it's heartbreaking to see all these trees dying. what guides me is ensuring that the public is going to be safer and that these forests can be sustained and enjoyed by the community in the future. one hideous day like today when everybody is freaking out about italy and the euro zone break up themes like cloud computing. and the king of the cloud is salesforce which reported one of the best quarters i have ever

seen tonight sharply higher than expected revenues billings and earnings let's check in with marc benioff. welcome back to "mad money." >> jim, how are you? great to see you >> i am good when you are the fastest growing software company. what gives you that level of confidence that fiscal year 22 will produce north of 20 billion? >> we had a fantastic quarter and raising our guidance to 13.125 billion this year we are fast tracking to $20 billion and that is crystal clear. >> three point north of 3 billion. 25% year after year. how much is new large clients that we can do talking about >> we can see what is happening

in the market today which is a huge investment by our customers. the economy is ripping customers are going through this massive digital transportation and every digital transformation ends with the customer we have seen diversifies success. everybody knows gucci, everybody knows eve saint law rant they are going to do that through salesforce and sales and service and marketing. and every capacity that you need to connect with the customer, you can do that with our salesforce platform and that is a great example of retail going online and another example is u.s. department of agriculture. they are working to make ranchers and farmers more successful than ever and have to

connect with them as well. another huge win for us in the quarter. and so many other great examples too. another one that you know so well would be marriott who is building a compete digital transformation in the loyalty experience for their customers that is being guided by salesforce. >> align, now, how did you get to align, which by the way, all time high today. what is your connection there? >> well they are just a great company. and of course they are automated orthodontist to be able to connect with their patients in a new way. we are helping them to build that platform. to allow their customers, their orth donist to connect to their consumers, their patients. >> we talk about trust

you talk about trust and the customer it is interesting in your recent acquisition, that you gave a talk on may ni9, that you if lo your way in trust, or trust becomes a by-product, then you lose your way to be able to continue to grow as a company. >> well, today i talked to so many ceos and if i would give them one piece of advise, is there is nothing more important than trust that you have with customers and employees and stakeholders and in today's world you have got to have trust as your highest value and if you lose trust like we saw with facebook, then you got to work hard to build it back and in that case, we have a crisis of trust. we saw that last year in san francisco with uber as well. these are companies that go

thugh incredible crisis because they have to reboot eir values it is better to start or look at their values now before you get to that form of crisis are you focused on trust, and is trust your highest value. >> you said travis calineck is your friend. so you can make a comeback. >> absolutely, i think that all of these companies and these ceos could have a moment where they have to go wow, i was a entrepreneur and now i am a leader i have to transform and go forward. that is an opportunity for entrepreneur that they are not running a startup anymore. sometimes it is a little bit of a difficult switch that when they have to flip that to become trust as their highest value. >> let's talk about metaphorical leadership you open up a tower. you are using that not as a

point of edification of how great salesforce is, but a point of edification that needs to be done in san francisco to make it a better city. as long as you are riding how, it is fine, but how do you rationalize how much effort you are putting to help the underclass while you are trying to do the best thing for your shareholders. >> we put 1% of our equity and profit and time into a foundation as salesforce scales and grows, we would give back a scale now, salesforce, as you know, 13 billion revenue this year and 30,000 employees and you can see our incredible market capitalization, but jim, the power of salesforce is that

philanthropic model is scaling so we will do more than a million hours of volunteerism. and give away money to public schools, and we run over 30,000 nonprofits and ngos for free we have great customers, like align, marriott, usda and others so many nonprofits and ngos, use our product but use it for free, the same product. >> how many eight figure clients new ones, and nine figure ones >> well we just had a phenomenal growth in our largest customers we talked about some of them but i see the largest customer getting bigger

and a great example is citi bank another example is adidas, a market share winner in the next generation of marketplace in sneakers and crushing the competition using our plarm. one last quest >> there is a higher demand for

them to provide a great customer experience that was true with align and true with the usda with those farmers. how do you transform those experience and that is why they are turning to salesforce and seeing this growth and seeing this great return. you have to connect with your customers in a whole new way you have to know your customers like never before and customers can turn to salesforce to do that >> all right well congratulations to marc benioff chairman ceo of salesforce. >> i hope you come to san francisco. we miss you. >> this was a huge quarter to the point where it can turn around the cloud kings in tomorrow's session "mad money" is back after this it took guts to start my business.

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>> announcer: lightning round is sponsored by td ameritrade it is time it is time for the lightning round on cramer's "mad money." we'll play this sound -- [ buzzer ] -- and then the lightning round is over. are you ready, skee-daddy? it's time for the lightning

round on cramer's "mad money." starting with derek in pennsylvania. >> caller: big booyah to you great job on that commencement speech group on, buy, sell or hold? >> rich williams is doing an amazing job. it is under valued dave in new york >> caller: hello, jim cramer, great to talk you to i always look forward to hearing your insight and commentary on the markets and individual stocks especially like days like today. >> okay. >> caller: my question is about cara therapeutics. they announced that they will be signing a deal and a deal will be providing cara with 50 million of cash -- >> look, i saw the deal. the stock went up big and the company has been a big

disappointment i thought there was more to it i want to see more to it margo in california. >> caller: hi, jim >> hi. >> caller: hello i am an action alert member and i started a small position in applied materials. they had a disappointing quarter. yet the stock price is on the rise, can i trust this trend >> thanks for joining the actualownersplus.com o led was up today and i think it has been unfairly punished let's go to paul in texas. >> caller: booyah. my company is watsco.

>> i think you buy it right here austin in texas. >> caller: adobe >> delivering, delivering, that last acquisition was fantastic i still like adobe michael in texas >> caller: boo-booyah this is michael from houston my stock is cracker barrel cbrl and i want to get your opinion. >> i like that special dividend they gave you. a special dividend is fine by me i am going to tom in florida. >> caller: jim, booyah >> what's up >> caller: what's going on with ppc. pilgrim's pride? >> we do not like commodity

food it is not our way. joseph in california. >> caller: big northern california booyah. what is up with berkshire ha hathaway >> that is your win. i would pull the trigger tomorrow morning on that stock mary maryland. >> caller: i enjoy watching your show clov vis oncology. what do you think? >> you have to hope it gets some kind of bid or something and i am going to say don't buy. and that, ladies and gentleman, concludes the "lightning round"" >> announcer: lightning round is sponsored by td ameritrade >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point.

that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade.

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times" ran a story that surprised a lot of people. we used to send tons and tons of recycling to china but they don't want to import garbage anymore. our paper and plastics is ending up in landfills. where others see problems i see opportunity. which leads me to covanta.

also recycling 550,000 tons of metal. the fact that we are swimming in trash is good for their business the company reported a strong quarter. down about 5% year-to-date so will it continue to languish or will this stock be the trash to treasure asset. let's take a look at ceo, mr. jones. welcome back to "mad money." this is obviously good news for your company. >> yes it is, china put in a policy called national sword program and it basically what they saiis they don't want to ta contaminated plastics, recycled plastic and paper so if it is contaminated, they

are rejecting it so that caused a back up in the recycling here in the u.s. >> some of that, you guys have a good business in medical waste. >> right. >> i think you are ready to handle some of this bad plastic. >> our preference is to have the recycled material recycled i think it is a shame for this to be buried into a landfill at a minute you should recover the btu. >> waste management has said on our show that we are not actually great recyclers i mean, can we ever get serious in this country or still okay? >> it is interesting

this china national sword program shows that we don't have some of the infrastructure in the u.s. to handle our own plastic and paper. 70% of exported plastic and paper was going to china and that is shut off the business model is changing for recycling and secondly, a lot of this recycled material needs a home and one of the homes it is finding is landfill. >> people have to know, covanta your principle source of resource is not the trash. >> waste is 70% of revenue in that neighborhood. and as we reported, volumes up 6% on waste. and that was before the china national sword program took major effect so it is a good time to be in the waste industry particularly if you are on the disposal side.

we have one marine transfer station already that is the queens transfer station. the 91st is set to proceed. >> i have a friend arrow aggregates and they take green glass and they are able to make it fill for roads. is all your stuff sorted and then made into something else? >> so most of our material is post recycling the area where we recycle is on metals so we reclaim enough steel to build six new golden gate bridges every year there must be a lot of beer

drinking going on out there for 3 billion cans to be going through the waste stream. >> you are very large. now last question, i know it has more to do with the stock price, but when i see a 6% yield, people say wait a minute that can't be sustained >> this year we are challenged in cash flow in that we sold half of our dublin waste facility and we sold that to the green investment group one issue that we talked about last time i was on was our leverage ratio is going up we have been able to bring it down by selling 50% equity as we look out now with our partnership with the green investment group, we are expected to double the free cash flow to about $250 million of free cash flow before year. >> i feel better so that is terrific.

that is steven jones president and ceo of covanta holdings, doing the right thing with our trash. "mad money" back after the break. sg you'll only pay $4.95. fidelity. open an account today. you mighyour joints...ng95. for your heart... or your digestion... so why wouldn't you take something

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save up to 15% when you book early at hollidayinn.com . i want you to remember the example i gave with jpmorgan stock fell, 35 to 32 and then to 28 the next stock was 119 how do you think the people feel who sold it at 32? at 30? i will tell you how they felt. they felt relief they carried it and it went away now they feel like idiots, morons and chowder heads i like to say there's always a bull market somewhere. i promise to try to find it just for you right here on "mad money. i'm jim cramer, and i will see you tomorrow

sz >> 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." ♪ first into the tank are erika welsh and keeley tillotson, college studentswith ad in their dorm room. hi, i'm keeley. and i'm erika. we founded our company, wild squirrel nut butter, this january as sophomores at the university of oregon. wild squirrel is seeking a $50,000 investment in exchange for 10% equity in our company. keeley and i love peanut butter.