i'm not looking to buy protection here. i think you've missed the boat, it's too late. >> it's always painful but necessary. this one doesn't feel good, but i think it's the best possible thing, we'll gets through this as well. >> great show. thanks, guys [ music playing 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 kram america. my job is not just toer tain and teach. so call me at 1-800-cnpc or tweet me@jim cramer.

today the circuit breakers were down 7%. a day where oil had its first decline, down 31%. the treasury went below .15% a record low which tells you the bond market is terrified it's also a day where you probably lost a lot of money it's probably what happened to you. that's because, of course, the dow plummeted 2014 points. its worst point drop ever. the s&p plunged 6.7. nasdaq 2.159 now the dow was at 2.14. it lost that much. okay it happened. what the heck got us here? where do we go next? first today's sellers fear we are going into a coronavirus induced recession and they're trying to get out of other people who want to sell. just trying to get aahead of them

that may sound fanciful that we had six cases in this country and 22 deaths. in the end, it seems like a super food than the playing. as the president tweeted earlier, 37,000 americans died from the flu last year yet nothing is shut down life and the economy go on, end quote. but the marks were not reassured, not the bond market, the treasuries spiked. not the stockmarket. not the oil market that market down 24% and that came out of nowhere. so, who is right the president or the markets was trump dprapling telling us this oil price war between saudi arabia and russia will be good for the consumer because it means lower gasoline prices here's the thing, it would have been great for us a decade ago these days the united states is the world largest export some of our people will default and wiped up laying off a lot of

workers. the service companies and the pipeline complex therefore, oil price may be more negative than complex and right down to the banks. as for the number of people covid-19 some of that is because we don't have enough test kits. if some areas, they don't want to test you until you are very sick not just rung a 100 degree fever, very sick further along, i find they are dig lus. america e americans won't take it seriously until we get a better handle on the pandemic. until then, they won't feel good congregating anywhere. perhaps singapore has peaked it's only italy which froze travel and it seems pretty scary. in iran, with who knows what, it's fully out of control at this moment. when it comes to seeking travel industry, who wants to take a vacation when you see all these people on carnivale cruise ship,

two-thirds of what's going on in japan. it's odd they aren't testing every person on every ship do we have to keep waiting until they come to dock? we ought to get our act together here at least tony fauci had the good sense to steer people away from the cruise ships they made it way too clear it's too easy to connect with the coronavirus. it's way too easy to die if you are early or sick ahead of time. that seems to be the population it doesn't minimize the it so what happens? there are four things i really want to see here by the way, we fet these four. i'm not financial to say federal recession. we tell to youpy stocks. okay but we need these four. mr. president, we need these four, first we need fiscal stimulus the government should be offering no interest loans to small businesses that won't be able to hand tell downturn they didn't do anything wrong.

we should subz dize people differenting paid sick leave mr. secretary mnuchin stand up you would comp the market itself second, how about a change of tact from the president? now, he's got-to-hope for the best attitude. that's attitude my father always had to me. so i'm not doubting it i think we should be planning for the worst like my mom would have we'd all feel nor confident if everyone on the cruise ship is tested so everyone has a 100 degree temperature. i don't think that shows weakness it doesn't under mine things may be better than most of us believe. the more data, the more testing. the better we trust the figures. the markets are creating leadership that's what the dow and ten year are screaming in unison, playing golf is a way to placate hey, you know, keep calm, carry on thing going after your business during a pandemic, it doesn't work. it puts people in danger

now, we saw that during the spanish flu outbreak we need to take a short-term hit, stay away from the crowd. all of this slows down the infection. which doesn't really matter. third, we need the white house to push for a vaccine or a strooemt treatment or even some bit better information, data, that will allow our scientists to solve this we can have the smartest lines from all industries you make them commit to fixing this private industry right? why don't i hand out big prizes. $1 million tax free, the skypetist who comes up with a cure they give out a lot of money in powerball, for heaven's sake, isn't that better use? fourth, you go to war with the health system you have, not what you want we need to back it up with army surgical hospitals to ventilators and respirators and hazmat suits

estate and federal government don't have the money for these things, that's what they're for. do a $300 billion 30 year everyone wants so badly. let's pick through the rubble of today's devastation or is there more news not priced in? i think we're on the eve of a recession unless we get stimulus from congress. this is a public health problem. remember, it's a biological crisis the last was 2017 when fed chief powell raised things too fast. not the fine effort hour back then stockmarket took a huge hitter. the s&p plunged 2.347. the dow tumbled to 107713. the usual benchmark, the s&p down marks the dow those are extreme. okay but there are a loot of stocks that are valuable between here and there. we brought some stocks in my

charitable trust we felt good about it. i'm embarrassed about this market for a few weeks a lot of people call mae panic monger, fear monger. i stopped looking at twitter for a while. i'm not a panic monger this is panic. i was trying to get you out ahead of the panic there i do believe there will come a level where it makes sense to buy more aggressively. two weeks ago, warren buffet told you to buy. it's the same quote in the financial crisis back then it was way to early. over the long haul, you did make a kill figure you listened to him. you might look back and say what was that cramer thinking he told us not to buy. you can start buying now the trust did. here's the problem you are not warren buffer e. he's one of the most rich men in the world. the rest of us need a little time we got to get it better. we don't want to be overrun by

sellers. do you want to sell close to these 2018 lows? i will give you my blessing. stay tuned i will tell you what's in the plast zone we got to be clear about one thing. this is not armageddon if you think about the oil prices, mr. president, we have the potential for the lowest oil rates if history those mortgage rates have not come down. the prices for goods and services are coming down unemployment is very strong. they only allow us to spring back much harder than most people think we could. make no mistake. cavid--- covid-19 is slowing down the government. it comes from a fear for the worse. we need to make more coronavirus tests and we need federal money to bolster our healthcare system to subsidize things we don't have enough of, ventilators, more hospitals we recognize the serious nature of the disease bottom line, right or wrong, people are terrified about this

pandemic it's hard when the government is focused on more optics than on appropriate precautions. if the president wants to reassure the market, he needs to consider a new approach. and if he takes it, call me a buyer. markets are the mark. >> >> caller: it's marc from miami. >> what's shaking, partner >> caller: thank you for everything you do and talking me down off the ledge more than once. >> we can stay together. if you want to see why i said falling off the ledge. what's up? >> caller: as i stare armageddon in the face, i want to find a safe place to hide what are your clots on clorox? clx? >> i see armageddon, it's ugly in the face. my travel trust said we are being way to greedy. i think if you continue to no higher how can i tell you to do

something a little here's and at name for what people did to the stockmarket today. rid in massachusetts rid. >> caller: hey, jim, how are you doing? >> i am well, how are you? caller hey, jim, thank you for taking the call. aquick question, what among th last er day at the 145 and how you had it like 2004 on the shares and holding there, i know it's like crushed what do you recommend? >> and this is -- it's roku? >> caller: yeah, roku, yeah. >> this is a problematic stock it's a high flyer. the advertise revenue is coming down i think it's a good company. i do feel also it's a very high price and it needs multiple. if i had it here, i would not sell it in '96 i don't think i'd start buying

it for another 15, 16 points i have not been the best on the company. i've said that over and over again. i am have them not call. there are other people who know this one better than i do or are more right about it. let's go to lou in new york. lou. >> it's a huge honor and i truly appreciate you. >> everybody has an honor. what's going on? >> i happen to bought slack. the recent highs in your stay at home playbook. i wonder if it was a good shorm therm or a long term >> i shot it would be. we traded down to 19 in november so obviously it can fall lower i keep hearing this as the stay-at-home software company. i like it. i didn't include it because it's been spotty. it is interesting. now, it may feel like it is, but, oh, it's not armageddon believe me, it's not armageddon.

we could spring back, a couple things have to happen. first, if they have to happen, we're going to spring. maybe it's singapore, maybe it's japan. maybe we will see some food news, but it might be too early to see that. on "mad" tonight, oil prices are seeing the biggest decline i'm going to give you my take on the space. then a historic day on wall street the stocks halted, minutes after the open following a 7% s&p and the dow is facing its biggest point drop ever. i'm opening up the phone lines, taking away your questions with the dow seeing the biggest recession, i'm going to go stock by stock helping you make sense of the averages. so stay with cramer. >> announcer: don't miss a seconds of "mad money," follow jim cramer on twitter. tweet jim cramer@"mad

money"@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com. >> i saved hundreds on my car insurance when i switched to geico. this is how it made me feel. it was like that feeling when you go to high-five a coworker, and you do a perfect high-five. everyone is really excited for you because it was such a great high-five. and then... ...the boss comes in. and she wants one too. geico. fifteen minutes could save you fifteen percent or more on car insurance. ♪

♪ don't just plan to retire. plan to live. an annuity helps cover your essential monthly expenses, so you're free to live the life you want. find out how an annuity can give you lifetime income at protectedincome.org whatever happens out there cayou have the hilton app.me will the hilton app help us pick the starters? great question, no. but it can help you pick your room from the floor plan. can the hilton app help us score? you know, it's not that kind of thing, but you can score free wi-fi. can it help us win? hey, hey! we're all winners with the hilton price match guarantee, alright? man, you guys are adorable! alright, let's go lose this soccer game, come on! book with the hilton app. if you find a lower rate, we match it and give you 25% off that stay. expect better. expect hilton. shouldn't you pay less when now you can. data? because xfinity mobile gives you more flexible data. you can choose to share data between lines,

mix with unlimited, or switch it up at any time. all on the most reliable wireless network. which means you can save money without compromising on coverage. get more flexible data, the most reliable network, and more savings. plus, get $300 off when you buy a new samsung galaxy s20 ultra. that's simple. easy. awesome. call, click or visit a store today.

tial normally when stocks get pulverized i smell an opportunity. sometimes it's a disgusting stench at almost any price that's how i feel about the oil and gas cuts after yesterday's massive collapse in the price of crude. a gift from the saudis and the russians who are now on the press floor. now i have been criticized in the street non-stop for months because i wanted to immunize your portfolio against the wave selling typically made by younger portfolio managers who care about the environment more than they care about chasing you. we saw the tobacco stocks in the '90s most portfolio owners want to show they owned them cigarettes were too controversial. that's why i have been calling oil and gas stocks the new

toivenlth let me be clear, the problem is not climate change. it's the controversy, itself my critics in the oil industry don't seem to get my reason. they tell me, jim, oil been around for many, many years. so it can't be tobacco that is not responsive. tobacco is around, too the issue is when lots of money managers refuse to own your stocks, those stocks go lower. that's why i have been arguing it was not investible. now, though, we have a much more serious dra conyan reason to sell them. as saudi arabia and russia engage in this war the russians were attempting to drive them out now the stories are pumping the russians out of this and that's how the price of crude seeps to $31 a barrel again a huge, breath taking. now, can these two competitors crush the great american oil industry i know that many hoff our producer versus hedged well.

some of them have trick assets that can turn a profit even at $31 a barrel certainly if that becomes the new normal,it would be certainly if it's 16 below barrel many of them were cut in half today. then they even thrive. because other ones may be desperately meeting to raise capital and will sell their good assets to the stronger ones. unfortunately, there are a lot of bad ones out there. the first among them is occidental petroleum, it's only a decent producer. objection dent sal now worth $11 billion. it will have a very hard time paying its debt and drilling or taking oil out of the ground when it comes to the oil industry, you know i know of anyone than rusty brazil his work suggests that objection

dental finding cost and lifting cost, making it the third worse in the united states so oxi monster dividend yield simply isn't safe. there is a reason it lost half of it value today. i begged the company's ceo, not to buy anna darko. she did it anyway. now i'm begging you. now it's entirely possible the saudis, they won't be able to destroy the u.s. competitors f. they could, it's stupid to flood the oil rate going into a recession. less demand, less supply, the economy is heavily dependent on oils it's very self-destructive the regime in iran which is uniquely arguably the worst covid outbreak on earth. it's a russianality. how is russian doing it? the russians are into venezuela for billions of dollars.

this is another unstable government oil stays at 31. everybody doing this to produce the u.s. producers even though it's not in their self interest. i know there is a carry joseph, i'm more sanguine even as the banks are in place the u-curve, own, j.p. morgan down 14 bucks. that's buy to me remember oil went to $26 everyone survived. since then, people tried to diversify away from energy if there the a deem to reinstate the old order, i think you'd use that as a chance to sell if you need the money, by all means sell tomorrow, if it's an oil company with a terrible balance sheet like occidental. the oils, again and again, their time, it's come and it's gone. let's take some questions. let's go to bud in washington. bud. >> caller: jim, i forwarded 855

sold it 895. i am seeing a lot of negative stuff about ford but i'm still interested, especially now at 6. >> yeah. you know what, i'm having trouble with ford. i think that ford is balance sheet not good i wish i could be more, let's see, congenial but no, it's a painful time with stocks it won't always be i wish i could say the same for oil and gas, tow their too many has come and gone, "mad money" is back after the break. at fidelity, online u.s. stocks and etfs are commission-free.

and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk stocks have been down a lot.

no denying it. so you got to be opportunistic what is safe to buy snap between covid-19 and the collapse of oil price, everything is up in the air, isn't it? so this week i'm taking you through all 30 in the dow jones industrials. to give you a sense of what's at risk and what's now. we will do ten a day we will start with 3m. that appears to be exactly the kind of stock to buy right now in this environment with a solid mosaic of businesses, healthcare, electronics. now, though, i see 3m as a more indebted company, it's the okay end markets. transportation electronics don't have enough votes to bolster the earnings they have environmental earnings to put them at risk. on the other hand, they see portion with low digit growth. this company has a long track record of boothing its dividend.

the surgical mask is a small part of the portfolio. i can't recommend 3m right here right now, it's close. given how far the demand is. second to apple. now, here's where they're huge with 1.5 billion makes a difference it comes with an attempted writeoff but there is a component sparred and an end mark. more than we expected, i should say. thanks, to the draconian efforts to contain the virus in other words, apple has a bit more of a go to name to this hideous weakness until they possibly get another guy down we are likely to see a decline in phone sales we haven't gotten that that could be the opportunity to start picking if you don't own anything the complexion is a more subscription oriented business again, please wait for the downgrade, third is american express. so problematic

one of the rare institutions that got through relatively unscathed. it traded down to $10. those lows are not convenient. probably this time around, small businesses and to travel and that a double cham my-- whammy people are not going out that much, eating out that much what i can tell you is that there are more earnings at risk. that's a hard pass the top ten, first ten is really difficult. now we got boeing. here we got a triple whammy. it sure didn't help when calhoun had an interview with the "new york times," they made it clear they had more cultural problems than i know they did by the way, the faa as the ammo, the way to approve for another quarter. they are cleaning gm stables i didn't know they had stables when had a dramatic decline in

travel they were cash strapped almost i don't have night then there is the balance sheet. we always carry far more debt if we don't get some return within the next year. i'm not sure what kinded of dividend can protect you against that triple threat i'd say buy boeing tlths that's 60 bucks from here. the company is a mess. and the balance sheet risk is precarious i can't calculate the down serve. hard cash as i think the world of the company certainly more than the ceo thinks about it. fifth, caterpillar, it seemed like they were throwing us into a recession. it traded to 12, that level, at the height of the trade war, the stocks traded down 111 oz of today it's 104 now if you think recession is unavoidable. then it's a tough one to buy lower please, before we consider

it only a stimulus can change my mind that stuff is cheap i remember in the with 60s, it looked bad, it's down more than 15% as the price of oil plunged procedu procedur 24%. the fourth one is probably the best in show this new price war between russia and saudi arabia makes the whole group more toxic you got to understand. they have been propping up crude oil since the 1970s. the last time that collapsed, oils plunged don't think about storied positions. even then, if occident am is as bad as i think, mike worth can go swoop anna darkco for nothing. the problem with stocks, some people close big deals as long as the coronavirus keeps spreading, they won't happen

i think cisco numbers are too high we have chuck robinson, c'mon, this is some environment the reason to own the stock after they give a youp beat forecast the last time around. it dsp make it very enticing until you get below 36 not that far 36% yield. yep, coca-cola this wlun isone is a buy it depends on stock that does just fine. right now it's just below 52 if you get to 50, it's a gift. you can really focus oh man, i like dallas management very much. it's terrific. the company is heavy to oil and very high cost facilities and the balance sheet, it's nasty. the stock is more than 9%. you got to remember the dividend

has been cut before. it happened in 2009. it can happen again. in retrospect, it's bad for this commodity spin-off that's chim jimmy cho talking. 10 is exxonmobile. what kind of willist is this regina, what kind of list is this that you gave me with there staff? did you put these together >> no, that's how they are >> oh, man okay here we go oh, geeze, exxon, wow, it's trading at 14 times earnings some kind of safety net. it's ridiculous. i don't care if everyone presumes it, why buy it? exxon is more than chevron i think it will go below 40 before we think about, i'm sorry to be so negative on oil but i told you so. i know all these are severe, but as i've said over and over and over, there are very few stocks worth buying here.

a whole lot more to do more work, sold in a recession. we got to use that december 2018 playbook when i look over the first ten, though, hey, i got one coca-cola. i mean, c'mon, this is a tough bunch. rlo eay. "mad money" is back after the break. do you have concerns about mild memory loss related to aging? prevagen is the number one pharmacist-recommended memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life. apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have.

or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. to learn more, visit paycom.com

president trump has just now entered the briefing room at the white house to talk about the coronavirus. let's join him now >> we got all those things on people's minds we are going to take care of and have been taking care of the american public and the american economy. we are going to be asking tomorrow -- we're seeing the senate we will be meeting with house republicans, mitch mcconnell, everybody. and discussing a possible payroll tax cut or relief, substantial relief that a big number.

we are also going to be talking about hourly wage earners getting help so that they can be in a position where they're not going to ever miss a paycheck. they will be working with companies and small companies, large companies. a lot of companies so that they don't get penalized for something that's not their fault. it's not their fault it's not our country's fault this was something that we were thrown into and we will handle it we have been handling it very well the big decision was early when we shut down our borders we were the first ones ever to do that. we would have a situation that would be a lot more dire also, we're going to be seeing small business administration and creating loans for small businesses we're also working with the industries, including the airline industries the cruise ship industry, which, obviously, will be hit, we're working with them very, very

strongly we want them to travel we want people to travel to certain locations. not to other locations at this moment hopefully that will straighten out sooner rather than later but we're working with the industries, in particular those two industries we are also talking to the hotel industry some places actually will do well some won't do well at all. we are also working with the hotel industry the main thing is we are taking care of the american public. we will be taking care of the american public and i really appreciate the professionals behind me and the professionals actually behind them in a different room we have a tremendous team and it's headed up by our great vice president, mike pence. i want to thank mike he has been working 24 hours a day. just about he has been working very hard, very diligently and very professionally and i want to thank him, i want to thank the team and i'll have mike say a few words, thank you very much

thank you. >> thank you, mr. president. we just completed the day's meeting of the white house coronavirus task force we had the opportunity to brief the president today on a broad range of issues. and, once again, because of the unprecedented action that president trump took in january, suspending all travel from china, establishing a travel advisories for portions of south korea and italy, establishing screening of all direct flights, all passengers from all airports, italy. and south korea. we have bought a considerable amount of time, according to all the health experts to deal with the coronavirus here in the united states. as i stand before you today, the risk of contracting the coronavirus to the american

public remains low and the risk of serious disease among the american public also remains low. that being said, the president did deploy not just a whole of deposit approach, but also a wholeof america approach and last week at the president's direction, we met with leaders in industries from nursing homes to airlines, pharmaceutical companies, commercial labs, and it's had great, great impact pharmaceutical companies are already working, literally around the clock on the development of therapeutics that will be medicines that can bring relief to people that krth the coronavirus. and i know -- contract the coronavirus, lab core and quest have already brought a test forward and are taking that to market effective today

this week, at the president's direction, we'll be meeting with hospital ceos. health insurance ceos and all building on top of what the president will be announcing tomorrow with regard to economic relief for working americans we also met today in a conference call with 47 of america's governors. we were able to brief them on the latest, the progress that we've made we were able confirm with them that testing is now available in all state labs, in every state in the country over a million tests have been distributed before the end of this week, another 4 million tests will be distributed. but as i said before with the deployment of the commercial labs, we literally, we literally are going to see a dramatic increase in the availability of testing and that's all a direct result of the president's

leadership today in a few moments, we will outline community guidance that dr. burkes and dr. fauci will be publishing at the president's direction, we're going to be providing guidance about how to keep your home safe. on how to keep your business safe, how to keep safe and healthy at your school and will be pub -- we'll be publishing that information and speaking about that a brief word about the and from princess, the grand princess has docked this afternoon in oakland, california at a commercial dock 25 children, we were happy to learn through the screening over the last two days, the 25 children on the ship are all healthy. of the people that have contracted the coronavirus, 21 in all of there being dealt with in proper isolation, working with health authorities in california

we hope before the end of today to begin to disembark california residents to travis air force base in miramar. we made arrangements with canada and the uk to take their passengers back. they'll be transported directly to the tar pack, flights home and tomorrow the remaining passengers will be transported again through a very, very carefully controlled environments, buses, out to the tarmac and flown to military bases in georgia and texas all the passengers will be tested, isolated as appropriate, quarantined as appropriate i want to express appreciation to the governor of california and his administration the governor of georgia. the governor of texas, for their strong cooperation with us in resolving the issues around the

grand princess it has been a partnership, with i the president directed us from the very beginning in the process that bob will detail in any questions in a few moments, continues to work and move forward. the remaining people on the ship, the crew, itself, will push off from the dock and they will be quarantined and observed and treated ship board the president made the priority to get the americans ashore and we're in the process of doing that as well as returning foreign nationals. let me just say one other point as the president has spoken today to congressional leadership one of the things that i inform the president that i have been hearing from governors is the concern about hourly wage own earners in this country, feeling that they had to go to work even if they were ill and the president has tasked

this economic team as working already with leaders in the congress to make sure that anyone is not, feels that they're at risk of losing their job or losing a paycheck because they may contract the coronavirus. when we tell people if you're sick, stay home. the president has tasked the team with developing economic policies that will make it very, very clear that we are going to stand by those hard working americans, stand by those businesses, large and small, and make it possible for us as the president said from the very beginning, put the health of america first. we will be available to take any questions on any of those topics, but, mr. president, i didn't know if you wanted to speak before closing. >> i think what we will be doing is having a news conference tomorrow to talk about various things that we are doing economically including obviously the payroll

tax cut and so we'll be meeting again tomorrow afternoon we will be coming back from the senate we have a lot of very important meetings set up. we'll have a press conference some time after that and we'll explain what we are doing on an economic standpoint and from an economic standpoint, but they will be very dramatic and we have a great economy. we have a strong economy but this came, this blindsided the world and i think we've handled it very, very well i think they have done a great job. the people behind me have done a great job. so i will be here tomorrow afternoon to let you know about some of the economic steps we're taking, which will be major. thank you very much. >> reporter: a number of items mentioned there from president trump. but one you heard him say there briefly as he's looking ahead to tomorrow, a payroll tax cut. we will listen carefully to hear what kind of detail that

entails. also some support for the cruise lines for small businesses and for hourly wage workers as they worry about whether they can miss work even if they are not feeling well we expect to hear more from the president tomorrow he has invited wall street leaders to the white house we had learned this afternoon that on wednesday, ceos of the nation's banks are expected at the white house for a meeting there. again, the president coming out and talking on the heels of what has been a very tumultuous market day now, let me send it back to jim cramer with "mad money". jim. >> thank you so much look, i hear a lot of this i think so that i really like. i have been waiting to hear something to protect small business i don't think people recognize there is such a huge problem and that problem is basically that we're in a situation where people are afraid to say that they're sick because they'll lose a job now what happens is maybe they've got some hope. i think the payroll tax cut puts money in people's hands. we should direct cash benefit.

you can't have everything right. i think it's good. so thank you for cutting to me now we are going to get to the rest of our show, which has been truncated and back and forth as you know it's been a wild week on wall street. it's the new normal in the coronavirus panic and the major safrg down 19% i got to remind you once again, we have each other's back. i'm not a political guy. i don't like talking about politics like i just had to. it's important to recognize there are some physical things people can do to be happier. i will answer your most pressing questions, so why don't we start by going to anthony in new york. anthon >> boo-yah, jim, how are you >> it's a pretty good day. >> it is >> look, if you have a lot of cash, it's, obviously, a great day. if you don't have a lot of cash, obviously, people lost a lot of money today. we got our health, hopefully, knock on wood, let's go. >> that's why i'm calling.

i'm so pleased i will be able to speak to you today. >> absolutely. what's going on? >> at the end of december, my wife's ira was around 700,000. over which 150 to 160,000 was in cash >> okay. >> i'm 68. my wife is 62. our major positions are 650 shares of dodge cox and 5,000 shares of bank of america. my wife, by the way, works for banc of america. in december, dodge cox was 400 a share and banc of america was at 35 at this point in time, we don't need any income from this account. however, three-to-five years from now, we were looking for a 4 to 5% yield on $750,000 portfolio. >> right. >> to supplement income. i'm asking you what should do i with the dodge cox and bank of america position >> actually, i'm going to urge you not to touch them. i wish they were a little more

diversified. let me ask you, do you have any s&p funds away from that >> oh, okay. look, what i want to try to emphasize to people is, what anthon is doing wrong, obviously, if he doesn't have diversification, just those two stocks you see what happens, the financials give up the ghost then you lose a lot of money that's why i love diverse fichlths it's a must let's go to colin in new jersey. >> caller: hey, it's colin from new jersey >> what's going on >> caller: boo-yah, people freak out over the coronavirus and public transportation, i believe this will cause a new influx in car sales w. this being the actual top killer, people are considering buying the electric cars with filters like tesla, being they are adding on the model y as soon as next week three quarters early what are

your thoughts on using the currents weakness in the overall market to add on to a long position, throw it on auto pilot, let elan do his thing >> i like tesla. tesla's come down, it came down $95 today. it's now down $360 from its high detroit looks horrible i think you buy a little here. maybe it goes down to 500. let's remember they have the cars that people want. people were saying, you got to be careful, the price of gasoline is coming down. it's no. it's a tech knowledge company on wheels it is not a competitor of ford motor. david in illinois, please, dave. hey, dave, c'mon, man, i know you are there. dave >> caller: yeah, jim cramer. >> yes >> caller: the dramatic sell-off today as the market digests twin black swans, the global covid-19 pandemic and the freefall drop in crude oil prices, where do we

go from here do we add bristol-myers come to mind or do we take a more patient and measured approach to weather out the storm and wait a bit longer keeping your dry powder intact for even more favorable opportunities ahead? jim, your thoughts >> first, i liked what the president had to say tonight why? because it was off the message i have been saying stop saying everything is good address small business address the payroll tax. i understand there are people going to lose their jobs please help the travel and at leisure. he did all those so, dave, the answer is we have to do some buying. when you ask for something and you get it, you can't say i want even more, dave. yeah, i like your list, by the way, i think it's a good one all right. now, listen up, america, or cramer, whatever you want to call it. i know we lost a lot of money. i think the president is starting to come around to my view, we can't say you know

what, there is nothing to worry about. at the same time there's levels that were pre recession before in 2018 and we're looking into those levels this is not a time to panic. a special edition of the lightning round is next. we have been negative on oil we have to start getting positive while the others get negative stick with cramer. >> thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪

. it is time, that's right it's time and then the lightning round is over. are you ready? ski daddy. that was the lightning round we start with alex in pennsylvania alex >> caller: boo-yah, what's going on, jim? >> i don't know, hanging out what are you thinking? >> caller: given the recent dip in the market, do you think it would be wise to purchase four shares or do you think the market is too volatile >> i'm trying to figure out what to do. here you got canopy, they closed some factors it's a little too dicey for me in a dicey environment we will be less dicey. let's go to thomas in illinois, please, thomas. >> hey, mr. cramer thanks for all the help. >> no problem. >> my question was iron mountain inc. your irm thing. >> this is one of those, i have been trying to put together a high yield portfolio, irm, a

good place to be, a reit i like it. let's go to brad in florida. brad >> hello, cramer >> yeah, brad, you're up >> hey, congratulations on 15 years. me and my father watch it the whole time >> thank you i forget about it. geeze. all right. >> i really love your whole thesis about stocks from at home. >> sure. >> what do you think of stamps.com >> it's the business at home, you know what, it is a football stock. it went, it's a battleground stock. i don't want no battleground stocks i got to own pristine stocks into a sell-off. pristine let's go to joe in florida joe! >> yeah, jim, i'm calming up about cypress semi conductor >> didn't they there is one, suddenly they weren't allowed to do the acquisition. i can't touch that thing why? i have no idea during the period

when the company is being bought so you have to stay away entirely robert in connecticut. robert >> hey, jim, love the show let me get your thoughts on anheuser-busch >> it's a downgrade today. when i see that, it tells me, if you can't work beer, we have to stay away from bud i have consolations, i have to tell you, beer sales are slowing. beer sales are slowing so why do we need to be in that? by the way, the spiked settlers is crushing it let's go to dan in pennsylvania. dan! >> bbbb boo-yah. the coronavirus is spanning north america. let's address -- death care stocks, specifically service corporation. >> service care has been a long-standing situation. i'd like to not necessarily relate it to the coronavirus hopefully not. yes, it is, it's death care service and death and taxes, they both work that is the ending of the

lightning round! >> the lightning rnd ious sponsored by - legendary terrain in telluride,

the unparalleled landscape of park city, or the famed peaks of whistler, you've faced the hassle of lugging your gear through the airport. with ship skis, you're just a few clicks away from having your skis, snowboard and luggage shipped from your doorstep to your destination. with unrivaled pricing, real time tracking ship skis delivers, hassle free. ship ahead and go catch those first tracks on fresh snow. ship skis. your skis. delivered. to feel exhilaration. it all starts with an invitation. the invitation to lexus sales event now through march 31st. get 0.9% apr for 60 months on all 2020 models. experience amazing at your lexus dealer. but when allergies attack,f any the excitement fades. allegra helps you say yes with the fastest non-drowsy allergy relief and turning a half hearted yes, into an all in yes.

allegra. live your life, not your allergies. okay minus 14 on the proprietary oscillator, i look at, that's extremely high we understand you can't just pick and pick and pick you have to wait until we get so some level mortera firma -- more terra firma. i like what the president had to say? why, it was different than golfing. that's reassuring, it helps the american working person men and women who are going to get laid off, through no fault of their own, a payroll tax cut, maybe something else for those that don't. i promise you i plan a few right here on adey i"m mon,"'m jim cramer i will see you tomorrow. our special markets in turmoil starts right now > good evening

on day 71 of the coronavirus crisis, a crisis that has sent stocks worldwide in a global spiral of turmoil. today the market fell and commuters are being asked to stay off of public transit if at all possible >> well, falling by as much as 34%. >> oil shocker. >> an all-out oil price war is erupting. >> stocks crater. >> it is clear there is no