too cheap. >> similar vain vein ag stocks. >> happy birthday to my husband. a little gm. >> happy birthday lawrence. >> lawrence apache comes out apa in the old days. >> see you back here 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 help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money. welcome to -- my job is not just to entertain but to educate and teach you. call me or tweet me @jimcramer as we head into friday's incredibly important payroll report, you have to keep in mind that we have a real goldilocks problem going here

you think we want to see a great number with powerful job growth, lots of wage increases that's now how this game works in a day where the dow gained another 54 points, nasdaq climbed 0.32%. down from their highs because of the spike in interest rates. allow me for explain and set the scene for what's really going on here you see, at this point in the cycle you have to consider the role of the federal reserve in slowing the growth of a smoking hot economy. if we get an employment number that is sizzling, the fed will feel compelled to keep raising interest rates why, because their mandate is to stop inflation that's a real concern. when we hear amazon is paying $15 an hour from an average of 12 bucks, there is a genuine freak out among investors. by the way, many of them dumped almost every single retail stock except the one that seems to be most vulnerable, walmart, which

makes no sense whatsoever. so if we don't want the fed to slam the brakes on the economy, that means we don't want to see a great employment number. instead, we need a so-so number. what really worries me, though, is the fundamental ethos behind these rate hikes does the fed really need to nip inflation in the bud like this would it be so bad if they decided not to take away the metaphorical punchbowl let's think this through, okay right now we have a couple of sources of inflation in the system first there is commodity inflation. mainly the cost of aluminum cans but that's entirely because the president slammed a 10% tariff on imported aluminum it's not organic the world has plenty of aluminum, it's just our government put a tax on it then there is oil. global demand for crude is growing rapidly from 1.5% up from 1% for the last 20 years. at the same time, many countries are producing far less oil than

they could, venezuela, libya, mexico some of this is organic but some of it is man made. the thing about energy inflation there is nothing that othe fed can do about it. oil is a worldwide market. prices have already come down from where they were in the spring higher short-term interest rates won't lower the price of steel, which also got hit with tariffs. strangely, though, the price of a key part of this commodity hot rolled has already peaked, it's coming down. some industries have more inflation than others. housing and affordability. that's come down heavily, mostly because the fed has tightened but also because there is not enough land zoned for nation use. if you look closely at the numbers, you can easily craft a slowdown story new orders came in weaker than expected, same goes for backlog. gross margins have definitely peeked the stock dropped a percent and

hit its great 52-week low. throw up the white flag, home builders how about autos? all right. the price of new cars is up again, in part because of higher commodity prices but i don't think those new prices are sticking, otherwise the car dealership stocks wouldn't be such lousy performers. i think the auto companies should be lowering prices here and getting even more professional again, the fed has already won this industry. something is very clear and obvious, if you look at the horrendous action in the stocks of ford or gm. some traditional bellwethers of inflation, too they're very weak in this country. chemical prices, they're all rolling over, sure signs that again that the fed is winning. so where is the real inflation that the fed can actually control? labor. we have nearly full employment in this country and that translates into higher wages that's good news for people who work for a living but it's bad news for the businesses that

employ them. amazon's wage increase really did deck the market yesterday, but when i look at amazon, i'm seeing a company that is working to control wage inflation by embracing automation in its warehouses and eliminating monthly bonuses and stock grants i'm not denying that wages are going higher, it's that even this pay raise, amazon is one of the most powerful deflationary forces on earth. i defy you to think of a company that has done more to lower prices and destroy other retailers, forcing remainder merchandise to come down even more than amazon's prices. remember the piece we did last night on the off-price guys and how low their prices are that's why every other retailer views amazon as the death star we keep hearing about trucking inflation because of the shortage of drivers. you know what? this is another one that people are getting wrong. it has a lot to do with new safety rules put in last year that prevent truck drivers from working too much overtime. in other words, this is another government-mandated dislocation.

no normally we train up new drivers, but young people are averse to going into a profession that could be put out of business by autonomous vehicles we're running out of workers companies are now employing plenty of people previously viewed as unemployable yesterday we heard remarkable, the ceo of paychest, he said many companies are beginning to waive drug testing i remember when they put that in they want to keep their employees so bad they're waving it parolees are getting out and finding jobs, especially in states where cannibis is legal my wife lisa is opening a new restaurant in brooklyn i can tell you it's really hard for find dish washers in new york city for less than $16. that's well above the minimum wage why? a couple of reasons. i think the president's immigration policies have become so restrictive that new people aren't coming into the country and birth rates are dramatically lower than when i worked as a

dishwasher i made about 1.5 0 an hour. i was thrilled for it. i wouldn't be surprised if we see less restaurants opening it just isn't worth it you can say it's a new york problem, we were in san francisco, it's the same labor shortage the federal reserve is very powerful but it can't create new people instead they raise interest rates which makes it more expensive to borrow money, meaning fewer people open businesses and less labor to go around which brings me to the real issue here, the crux, there has been almost no wage inflation in this country for decades income inequality is a serious problem in this country. it's a problem that the fed has absolutely had a hand in creating how the heck are working people supposed to catch up if our central bank slams on the brakes every time wages incrementally go up? in short, the fed should be careful what it wishes for technology has already put a ton of downward pressure on wages

thanks to the cloud and companies like amazon. housing and auto, well under control. i just told you that why not let the economy run a little would it be terrible if we went over the precious 2% inflation target it seems crazy to me the fed would consider throwing us in a recession here here's the line, the fed needs to consider what the it can and can't control. i think it would be a grave mistake for them to be so darn dogmatic about rate hikes which may prove to be unnecessary here in other words, a little inflation is not the end of the world, but a recession, that would just be terrible darren in north carolina darren >> caller: hey, jim. thanks for taking my call. >> of course. >> caller: i was looking through canopy's latest quarterly filing and noticed a significant increase on the balance sheet. >> okay. >> caller: given the uniqueness of cannibis as a crop, should we

be paying closer attention to 2019 production capacity as a means for facting evaluations of this sector? >> this is obvious you studied this tree, darren. i'm sitting down with bruce litton, by the way, they report tomorrow with consolation brands with bill newens this is october 13th, teaching i'm conducting in new york october 17th is repeal and they need all the inventory they can get and see great growth around the world. they've got $5 billion convertible bond tonight you want it to have all the inventory possible if this things takes off remember, these stocks are all going up in anticipation of exactly that repeal. be careful, they're a little too high john in new jersey john >> caller: first, i would like to say it's an honor and a privilege, mr. cramer. >> that's nice thank you. >> caller: this is in reference to embridge. i know embridge is pieing the rest of their companies.

>> right >> caller: enbridge also succeeded their past quarters and the stock pays a great dive debd why hasn't enbridge gotten through the roof >> this whole group, john, is for hunger has my mother would say. you cannot possibly get any pricing because they're not growing and i've got to tell you, i need people to stay away from the mass limited partnerships they've been a disaster and i'm not going to recommend any of them not after what's going on. i don't want people to be in this address. >> the house of pain. >> all right friday is, unfortunately, incredibly key this is the most important employment number in ages. i am urging the fed to approach with caution and stop being so dogmatic and putting out the targets about all the rates you need to have that are increased. that doesn't make any sense to me "mad money" tonight, how one company is bringing car buying by click, downward prices on cars my take on carvana two stocks aren't getting in on the action

i'm eyeing the weakness in micron. with news that hackers have stolen data of nearly 50 million facebook accounts, i'm speaking with the company that signs on the dotted line when it comes to your data in the cloud find out how cyrus 1 is keeping your information secure and more important, whether the data center is slowing or not i say stay with cramer don't miss a second of "mad money. follow @jimcramer on twitter have a question? tweet cramer, #madtweets send jim an e-mail or give us a call at 1-800-743-cnbc miss something had to madmoney.cnbc.com do you hear that?

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who needs a license when you have uber? meanwhile, scooters. buying used is much less of a crap shoot these days. that's why cramer fav carmax has seen its stock rally 14% for the year while new vehicle focus, auto nation, is down nearly 22%. that's why i said at the top of the show that new car prices will continue to be under pressure but that barely scratches the surface of this story. if you want to see the biggest winner here, look no further than carvana, the online used car dealership you buy online and go to one of their used car vending machines. basically a gigantic automated garage to pick it up the stock has pulled back pretty dramatically from its recent highs. get this, it's still up more than 500% from where it bottomed a few days after its ipo roughly 18 months ago and a terrific 185% gain just for 2018. now back in august, mitch from arizona called in to ask about

carvana and i said i need to do some catching up on this thing before i render an opinion at the time the stock was at 54 bucks and soared to $74 and round to 54 again. i figure this is a good time to circle back and look at carvana. first off, pass the mustard, i used to put mayo on it got to eat some crow in january, not long after carvana missed its sales forecast and trimmed its guidance, i told you to wait for the company to prove itself before you do any buying that's the way i do things and since i wrote the book "real money" that's been my philosophy then i kind of forgot about, stock rose higher and higher so i missed a major opportunity for you and that's bad what did we do with carvana right now? isn't that more important than looking at the past? for starters, this company has a revolutionary concept. i'm sure many of you would be reluctant to buy a used car off the internet sight unseen, there

is a whole generation of people who can't remember a time before the internet which is why this idea seems much less out there to the under 30 crowd than someone of my generation buying a used car has always been a painful process, right? no one really has liked it of my ilk. >> the house of pain. >> oh, just a second all right. well, not buying anything in this show. there is a reason you use car salesman are practically synonymous with misleading high pressure sales tactics carvana decided to cut out the middle man, in this case the dealerships, in order to go directly to the consumer the company uses technology to give bench buyers an incredible amount of information on each vehicle via their website. you can go there to research a car or buy it or get financing you don't have to interact with another human being. it's like ordering at domino's

pizza. that's a huge selling point for millennials. after you pay, they drop the car off at your house or let you pick it up from one of their used car vending machines. this is great. the whole process can take hours. with carvana, i just bought a car. all from the comfort of my office or your couch even better, if you don't like your car, you got seven days to return the darn thing. it's like a week-long test drive. good luck getting that from a traditional dealership they don't like you to go around the gridlocblock. sure enough, two months later the company reported another disappointing quarter. with weak guidance and stocks sold off dramatically as analyst after analyst downgraded however, by the end of march, carvana started picking up sponsorship. a couple of analysts upgraded or initiated markets with buy

ratings, then the company started bouncing then the company offered a second share at $27.50 at the same time, though, carvana preannounced better than expected sales which breathed new life into the stock. then over the summer, this thing just exploded higher on very little news as analyst after analyst kept finding reasons to raise the price targets. it's not like they were wrong. carvana reported its latest results on august 8th, the company finally gave the bulls the spectacular blowout that they had been craving. while carvana delivered a wider than expected earnings loss, the sales came in much higher than expected up 127%. 127% year over year. there is a number. they expanded into nine new markets, bringing the total of to 65. it now takes them an average of just 66 days to sell a car that is down from 105 days the year before. that's the key metric. even better, the guidance, explosive.

carvana predicted a fabulous third quarter. they're now forecasting 115 to 127% revenue growth with total gross profit per car coming in at $2,200. that is huge, people by the end of the year, carvana expected to be in 79 to 84 markets across the country, in which point they'll be covering 57% of the u.s. population in short, carvana is not just a disrupter, it's a classic regional to national growth story. something we love on "mad money. the stock moved higher and that made perfect sense everybody was expecting carvana's growth to slow, perhaps dramatically that's exactly what the company told us would happen when they gave us tepid guidance earlier this year. they overpromised and under-delivered, exactly what i told the philadelphia eagles to do last year during summer camp and they won the super bowl. then the stock got out of control. when mitch in arizona asked me about carvana, it was trading at

54 and step by step it suddenly climbed to 72 bucks. this was simply about a momentum stock attracting new adherence since then it's lost nearly 25% of its value on no real news except a major shareholder has been selling the stock mass over fist i don't blame the guy. now that carvana has pulled back, what do we do with it? i'm torn on the one hand, even as it has come down from its highs, the stock has still run a lot. you know i hate to chase on the other hand, it's not expensive by any stretch of the imagines it trades at just two times the company's next year's expected sales. you know what? i think that carvana is too contractive to ignore, however, i would only buy kaufb carvana speculation. it's a real wild trader. you need to be prepared to build your progressives gradually if it keeps falling

carvana has a fabulous concept which keeps car prices down and reduces inflation. i think this online used car salesman has absolutely proven himself, but this stock remains hot hot hot. yes, you have my blessing to buy it here, just don't be too aggressive and buy it all at one level. i want to go to michael in north carolina michael? >> caller: hey, jim. booyah first time caller. thanks so much for having me on the show. >> that's what i wanted. >> caller: i got a position in rentals and wonder whether united rental's recent accusation will make up for revenue shortfalls -- or recovery and the impact of the canada trade, what are your thoughts does it come back to 190? >> i get discouraged because i keep seeing great numbers and the stock does not go higher, but i am not going to give up. i think that caterpillar, remember, they don't buy cat stuff, but caterpillar just soaring here and this one is

domestic but people love china all of a sudden they love caterpillar and boeing i'm not giving up but i can't pound the table. all right. new cars, out, used cars in. rushing to buy carvana that's me saying buy, buy, buy, but be careful because this stock is very, very high "mad money," i'm eyeing the two key cull pits to find out what's behind their underperformance. you keep asking about them i've got it. cloud, big data. machine learning i'm speaking with the ceo behind of company of data center real estate who understands different ways to play these trends. does a bear poop in the woods? sure but it doesn't have to poop all over your portfolio. there is some high-end thinking. i'll tell you how the market naysayers can continue to create mischief so stay with cramer.

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♪ ♪ another day where the averages rallied to a new all-time high, i want to take a moment to check up on a group that has been stinking up the joint lately i'm talking about the commodity semi-conductor trade two chips trading so horrifically, they're holding down the whole group i'm talking about western digital and micron why do these two stocks matter because the semi-conductor space is important chips are in nearly everything these days and they need to be ordered early in the production process. so a downturn in the semis is often a leading indicator for the broader economy. so they are a the proverbial canaries in the coal mine? maybe there is something else going on here. western digital used to be a

pure play on hard drives but in 2016 the company shelled out $9.6 billion buying the creator sandisk. how about micron two main lines of businesses, flash and what's known as dynamic random access memory or drams which is an essential component of all electronics, especially computers when i say they're commodity semi-conductor companies, what i mean is there is nothing particularly special about these chips. they're not like intel, which each product is protected by a wall of patents. theoretically, if you want to get into the flash memory business, all you really need is enough money to build a f.a.b. that's why flash and d-rams tend to be boom and bust businesses when demand for these chips take off, pricing goes through the roof and companies like western digital and micron make fortunes, but eventually new production comes online fairly

quickly. prices break down. when you deal in commodities, investors are always worried about an impending boom/bust. >> sell, sell, sell, sell, sell. >> so when you see the western digital's down more than 45% from its highs in march with all-time highs for the market while micron's down more than 30% from its highs in mays, you know know the reason why i'm going to differ here i think there is a fundamental difference between micron and western digital. we know that the flash market is hideous right now. and that's a huge part of western digital's business, but it's really almost a sideline from micron. the lion's share of their sales, 70%, comes from the d-rams that's a very different market it makes perfect sense to me here is a company that gets roughly half of its sales from flash. late last year, a lot of the analysts were predicting those chips would come under serious pricing pressure by early 2018

or 2019. however, in march, we started hearing about large increases in nan flash shipments. remember, this is a commodity. markets are all about supply and demand, so more shipments translates into weaker pricing and that's when western digital's stock started getting pummelled. lately, all of these fears about flash pricing, you know what they've come true. western digital reported late july they confirmed with management giving much weaker than expected guidance stock got hit even harder and, again, western digital deserves this decline especially when you consider the other half of its business, hard drives is anti--- micron, though, is a different story they're hurt by falling prices, but much less than western digital. flash only makes up a quarter of micron's sales so what's driving the weakness here while d-ram pricing has held up just fine, investors are betting it will break down just like

flash pricing has. that's why micron keeps selling off even when the company reported better than expected numbers with decent guidance people don't believe it can last the company briefly managed to turn things around in may when it announced a monster $10 billion buy-back this is only $53 billion company. what a tremendous sign of confidence in the underlying business the buyback news sent the stock surging, but since then micron has given back all those gains and then some. the quarter also seemed to confirm many of the bears' fears. micron told about how its clients are making what they termed, you can just hear people just, you know, just shake -- just -- well, you know what you're doing when you can't handle something in your stomach. they say they're making an inventory adjustment do you know that almost 50,000 people watch my video of taking

a alka-seltzer ea d-rams are still holding up much better than flash. d-ram pricing is just fine which makes me think that negativity here, think it's overblown. add in micron's $10 buyback, again roughly equivalent to 20% of its share count could give a huge boost that buyback just started kicking in last month. in fact, in this quarter alone, micron is committed to doing $1.45 billion worth of reprogramming purchases. that could have a huge impact. after qualcomm reinstituted their buybacks, their stocks went -- when western digital's stock goes down, it just goes down hey, plus this big name money

manager david teper pointed out, micron is part of a slap-happy oligarchy. of course if you brought on teper's recommendation, you walk right into that hideous quarter buzz saw, but the point stands this vijay rakesh. see, there is a difference these are very, very stark businesses they don't have a lot to do with each other the analyst just came back from a tour of the semi-conductor plants in asia and he sees flash pricing getting substantially worse but he also says the d-ram producers like micron are showing a lot more discipline which means prices aren't going to drop like that. if he's right, if micron can deliver close to the numbers that management has forecasted, this stock is absurdly embarrassingly cheap and must be

bought at 4 1/2 times near next year's earning estimates if micron's results are only a little worse instead of a lot worse than expected, their stock could go much higher like qualcomm and broadcomm remember, the stock's been breaking down for months but it didn't actually disappoint until a few weeks ago. it's just that investors were anticipating this decline. here is the bottom line of this very subtle thought i'm giving you, micron is different from western dig. they've been in. >> the house of pain. >> as for micron, i think this is the kind of stock that gets cheaper on the way down, especially because the company is doing better than you believe and management has been purchasing a massive number of shares i'm not saying it can rebound overnight, but i do think micron is worth buying here i just can't press the button.

jesus. what the hell was that patty in new york. patty? >> caller: yes, hi, jim. after researching augmented reality and future tech, i bought highmax in january at 9.75. >> yes. >> caller: i've been holding thinking of their potential and patents. after dropping significantly do i hang on or did rid of? >> i'm not a fan and i haven't been in a long time i can't -- i oh, my god, it's down 40% let's -- i don't like it i don't like the taiwanese market and i don't like highmax. i'm sorry, patty i wish i could say i did but i don't. all right. the semis are not in chip shape. western digital is just horrendous i wouldn't touch that thing with a ten-foot pole, but micron might be worth owning here don't miss my exclusive with the ceo of cyrus 1 the bears are once again creating a lot of mischief i'll tell you how to keep your

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as a rule, many money managers tend to steer clear of the real estate investment trust when interest rates are rising their payoffs become less attractive when buying yields rise as we saw today what do you -- cyrus 1, a data center real estate investment trust that makes its money operating these huge warehouses full of severs we know there is a ton of demand for data centers because of the rise of the cloud. it represents a 2.9% yield and that dividend gets a lot less attractive when the benchmark is now 3.15 and the two-year, three-year and five-year yields hit ten-year highs today the stock managed to put up a nice rally when the bull market was behaving itself. it has pulled back from 63 and change each thouven though the y is doing fine. let's check in with the president and ceo of cyrusone.

welcome back to "mad money." good to see you. thank you so much. have a seat. okay i was on a conference call with your cfo and she actually said, look, higher rates are not good for us. >> sure. >> i want you to describe to people what it really does because i think a lot of people watch the show who would never understand why a growth business would be affected by higher rates. >> as you point out, it's a digital read so we're focused on serving the needs of the cloud companies. since 60-plus percent of our investors are real estate investors, we're caught up in that tailwind. you saw that now, you saw that earlier in the year. however, you know, the second trends are so strong and underlying growth is really, really strong and that's easily the best way to combat the rising interest rates. maybe they're up 50, 60 basis points, or top line growth is up over 20% that will easily offset any issue associated with rising

interest rates. >> gar ay, i speak to a lot of people and there was this whisper. i want to put an end to it the whisper is that the data center is slowing. i don't know where it comes from i here it frar it from here. i hear it from there is it slowing? >> absolutely not. we have seen -- we've come across ending the first half, having bookings that total everything that we did in all of last year. >> really? >> in the first six months of this year, we sold everything we did in all of '17 and that was a really strong year from our perspective, it is accelerating if you talk to any of the f.a.n.g. companies, there are about a dozen companies really driving this industry. everyone's capital expenditures are up dramatically. in "the journal," not that long ago, four or five companies spending over 50 billion in cap x, equivalent to what real industrial companies are doing and that's all because of the demand they're seeing is enormous and they're preparing for all that growth. >> okay. give us some benchmarks that

tell people they shouldn't worry. length of lease. rising prices of lease some metrics that clearly indicate that is really is strong. >> well, just this last quarter we had a $65 million booking quarter. our biggest quarter ever, $100 million of bookings in the first half of this year. more than we did all of last year really two good indicators with the number of leases, it was a record number of leases, over 500 and the term of the lease was just about 12 years. when we ipo'ed -- the length of term is going up, the amount of deal size is increasing and the penetration in terms of the number of different locations, each individual customer is buying from us has increased 60 or 70% of our business is with skm customers in more than one location and 90% is with repeat customers. >> somebody told me you'll say that ask him, why did it expand

in europe but slowing in the u.s. >> well, actually, the way i look at it, you're actually in an inferior position data is global, right? if your kids play fortnite, they're playing against kids all over the world our customer,predominately fortune 1,000 customers are deployed everywhere globally if you really want to be helpful to the customers' needs you have to have a global platform. if you don't, you're in an inferior position. we feel comfortable we'll be able to export that same success internationally. all the growth internationally is coming from all the customers we serve here. what we're doing there and with the combination of the gds acquisition, the partnership we made with the chinese companies, the cloud companies coming out of china are equally as ambitious. >> there is some short selling fun in this, saying gds

overinflates it stuff. i i don't know i know you can't give me a one-word answers that. >> the guy came out with a short thesis, people had a chance to review what he said. i think the management team did a great job of rallying back and they're basically at the same price they were prior. that's a great company. >> that's what i thought maybe what it is is that people don't believe it can last. if they don't think it can last, why would it still be accelerating if it didn't last, it would be plateauing. >> the thing that is really kind of, you know, always bothersome to me, you have all of these other companies, amazon putting up a 49% quarter it's a $25 billion company that's the third sequential quarterly increase of a really large company. salesforce, microsoft, everybody is putting up big numbers. those companies have done really well and the share prices have exploded you don't get the same follow-on in the data business

so all the growth you see there is ultimately going to manifest itself in our growth in our business. >> well, look, i want to thank you for answering what i thought was a specious view but we put it to rest i don't see any slowing. he doesn't see any slowing let's put a nail in that coffin. "mad money" is back after the break. - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life.

♪ ♪ it is time time for "the lightning round" are you ready? i want to start with riffed in florida. richard? richard! >> i guess i need to say a little booyah, but i just want to see what your future is on clorox stock. >> clorox was down $5 today because interest rates went up as interest rates keep going up, the stock will go down it's 1 for 1 that means when it gets to 140, buy, buy, buy. we're going to kirk in new york. kirk >> caller: jim how are you? >> i am good, kirk

how about you? >> caller: i'm well. just calling to check up on jimmy's stock. need some advice, man. >> what stock? >> caller: sirius xm. >> i've been behind this stock for $3.50. i'm starting to cool i didn't like the pandora accusation you've got spotify and now you have xm, no, it's too competitive for me i'm now saying -- >> don't buy. >> that's a major change for me. i want to go to john in north carolina john >> caller: hey, jim. big north carolina booyah to you. >> all right >> caller: thank you for all the insights and helping us navigate the market i listen to you every day on the ride home from work. >> oh, that's great. >> caller: my question -- my question tonight is on one of the cloud prince and the stock is new relic. >> this stock is ridiculous. remember, it's up 54% for the year but it has come down mightily i got to tell you, i'm getting really interested in the company. i think the stock in the '80s is

-- >> buy, buy, buy. >> jack in ohio. >> caller: thanks for taking my call i'm about halfway through your book, "confessions of a street addict." having around 4% yield and they look like they're ready to have another good quarter abbb. >> i'm wary of abbb. why? there is a competitive product put out by j & j i think it may be time in the spike to do a little -- >> sell, sell, sell, sell. >> j & j, by the way, i'm telling club members that j & j is right here. dave in nevada dave >> caller: yes, cramer a big booyah and thank you from las vegas. >> vegas >> caller: i'm here talking about shot spotter today >> we did a piece on it. we kind of liked it. it detects gunfire shots we think it's a pretty good situation. that, ladies and gentlemen, is the conclusion of "the lightning round. >> "the lightning round" is

>> "the lightning round" is sponsored by td ameritrademazin. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bel sure can, jim. ♪ trade 24/5, with td ameritrade. ♪

being a bear is so much easier than being a bull you can create mischief whenever you want and then if the mischief doesn't produce anything more than toilet paper hanging from the trees, you just move on to the next house. remember kirky a month ago we started hearing serious -- president erdogan

challenging his central bank's independe independents n the thing about turkey, it's been a slow- motion mess for years. plunged down to 26 coming into august so it was hardly news that the sick man of europe was in trouble. on top of that, turkey is probably the most politically unstable country in nato by the way, you know something has gone very wrong when the turkish army can't pull off a ko coup d'etat. it's like their trademark. suddenly at the same time that erdogan was battling his own central bank, the bears started panicking about a crisis caused

by president trump's sanctions on turkey. on august 8th, this whole scenario, it became the lead story in "the wall street journal. the result, bearish newsletter writers and pundits and profits showed up all over the place, warning that the bulls were whistling past the turkish graveyard, oblivious to the coming contagion coming out of turkey it didn't matter that the turkish central bank maintained its independence we were told that turkey could bring us all down and that we were just being too cavalier over the next week, the turkey etf plunged from 26 bucks down to 19. meanwhile, the dow jones industrial averaged in sympathy lost 500 points over the same period as the bears grabbed the microphone in the media echo chamber and refused to let go, i warned you here this would be a buying opportunity

i was caught up in the 1994 lyra collapse i told everyone in 1994 that would be the case. the worries only led to losses for my hedge fund and others like it and nothing else so, of course, this latest turkish crisis turned out to be totally overblown, just like all the other recent crises. you caught a beautiful bottom in the turkish stock market, the etf rallied back to 23 fast forward to earlier this week erdogan again refused to release the pastor, but at the moment, the president has his hands full with the most dramatic supreme court nomination in living memory once again, our markets believus why? there was no contagion it was the classic buying opportunity. the dow jones has put on more than 1,600 points since the turkish bottom >> buy, buy, buy, buy, buy. >> all those people tried to panic you out because it's what they do for a living why do i care so much about this why do i bring it up because the bears never reckon

with the aftermath when they get it wrong last week they moved from warning about a turkish contagion to an italian contagion. this time the culprit is a severely unbalanced budget in italy. they're back, unchallenged, admonishing us for being oblivious, cavalier. they've never been held accountable all the times they're wrong. meanwhile, the crisis in turkey is actually deepening. we just got a 25% inflation read today. the bears don't care they moved on to italy how do these professional pessimists get away with it time and time again i think it's because sowing fear is so easy to do it's always news when somebody says the banks could be in danger, isn't it even when they're wrong time and time again no one holds your feet to the fire so what's the takeaway unless there is some direct connection to the u.s. banks, and there really is, you need to treat these pullbacks as buying opportunities. beware the bears

their righteous indignation will almost always lead you astray, turkey, italy, who knows what's next no one calls them to account for being wrong. they always matter until they don't and then it's on to the next negative narrative that they can foment. i say we quarantine these guys when they scream contagion they don't deserve the platform. unfortunately, many journalists love controversy, which is why they'll never let these bogus bearish stories got to waste the best thing you can do is prepare yourself so you know what to do the next time someone starts shouting contagion in a crowded theater. stick with cramer. hi i'm joan lunden.

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creating a lot of value. i'd like to say there is always a bull market somewhere. i prommed i'd find it for you right here on "mad money." i'm jim cramer and i will see you tomorrow

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