instead i might use a one by two call spread on a stock you already own. >> it's not a record high any time soon, right, mike >> no chance >> guys, thank you very much really needed your insight intellect on 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 make you some money. my job isn't just to entertain but to educate and teach you so put wild days like today call me at 1-800-743-cnbc. or tweet me @jimcramer. . we had a great rally, we

need to accept the world has changed and we need to change with it. from now on when we come in on monday, we're not going to be focus on sales or earnings of companies but coronavirus infections and fay fatalities. these days, the pandemic controls the dow gained, nasdaq jumped 9.35%. yes, those are not mistakes. all have been an extremely oversold position, 2.78% yield for the dow. until this virus is contained or cured or just naturally levels out, you should expect much of this gain to be repealed, more selling and if we don't get the fiscal help needed to improve the rudiments of our service based economy, i think today is going to end up being a good day to sell.

and it already happened, maybe monday let's be real. we can't sustain a meaningful rally, until we have the covid-19 situation under control. and we can't get things under control without test kits and antibody medicine that triumphs over the scourge there are two paradigms south korea which is doing it right. right. we have italy which has been totally overwhelmed. we seem to be following the italian trajectory post nba that's what changed things we have top watching these covid-19 numbers like a hawk if this trend continues, i predict pain more like south korea, this market can catch fire if the treasury secretary and thousands speaker hammer out a deal over the entire sphere of commerce and affect the otherwise unemployed working person. we simply won't be on as long as the corona number keeps surging and dr. tony fauci has to come

out and not reassure us that the illness is ten times more deadly than the regular flu who wants to go outside when every authority figure telling you to stay home you can't go out and see a game and stay at home at the same time, the amazon economy which is what we're developing is not a sustainable economy eventual if it's great for shareholders we did have a couple of positives today. i liked the private sector coalition that came together to boost testing. hate them or like them, trump put together an impressive group in no time flat. you can be cynical about walmart, and target and walgreens, after a while, there's too many to be cynical about. we did hear magic words this morning when treasury secretary steve mnuchin said he'll provide all the liquidity the markets need to remain orderly when the fed made the same statement in the crash of '87, terrible tuesday, that caused the market to turn around and it never looked back.

listen >> there will be liquidity available, whatever we need to do, whatever the fed needs to do, whatever congress needs to do, we will provide liquidity, and this will be an entire hole of government approach led by the president. >> that's what you need to hear. that's what made this market go up early if we have a recession, that means we won't have a financial crisis if we can just keep the system going, there's always the possibility that eli louie, that are closest, can come up with a treatment for the virus. gilead, i expect an answer earlier this month i don't like that none of the bioteches have been leaking good news if they had a breakthrough they would stop testing and give to everybody immediately. the first guest we had on the show 15 years ago when the stock was at 5, now 465 is confident in his approach and moving fast. remember, there's always a possibility that something can

go right if somebody comes up with a viable treatment, you'll wish you bought stocks even as the crazy exalted levels at the close when the shorts panicked and just as they aggravated the downside yesterday, i don't like either side, by the way, i don't like when it goes up like this and down like this i think you need to buy stocks with safety evidence as well as highest growth tax the key is to buy them gradually on the way down, not chase like today on a vicious artificial close up i hate that kind of friday rally, why, because it is not sustainable. so call me cautious going forward after this insanely positive debt. with that in mind, can we find anything worth buying into the covid-19 related weakness that we expect next week. i keep wondering if i'm bullish about the highest growth stocks. in my experience, secular growth names are the first ones to bounce back and bounce back viciously. and few companies have softer growth than cooper software. these guys have been on the

show they're cloud prints it owns the market for procurement, for management software and it's on the cloud and a proven money saver for clients. if they make the numbers, i bet the stock goes flying. i don't li not unlike docusign, new ceo, formerly the cfo of home depot that's terrific news for everyone except fedex. which reports tuesday. now here's a stock that's down nearly 30% for the year. i don't know what to say about it frankly that last conference call was open rebellion by the analysts i used to love fedex, love the service, it's been a very tough group. nobody knows commerce like these guys the stock is going to roar but i can't imagine what that would be still great economists call, tells you a lot about the economy worldwide. wednesday is all about the fed and i know it's going to be boring, so i'll get it, but

that's okay we'll deal with that i expect another big rate cut from jaye powell, so does everyone else. he has been making reassuring noises i hope he takes a page from ben bernanke, he wouldn't allow bank failures, that's not the issue this time but you know what i'm talking about. and will have to lay out what he'll do to give lifelines for small businesses and push down mortgage change and change, for the best of borrowers. i want to learn he's working closely to guarantee letters of credit for vie lstall institutions that -- vital institutions that can't get them at the moment. jay, be creative this is a war. better to apologize after than to ask for permission now. it won't be granted or maybe you do like nike just do it we also have three important companies reporting on wednesday that can give us a read on the new normal general mills, we're in a stay at home economy. mills should be making a killing here the other two are retailers.

william sonoma at 5 below, a terrific online business, how is that holding up. 5 below is a chain that depends on impulse purchases they didn't do such a great job in the last numbers but they are regional and national chain and i do like them the stock would be flying if it weren't for all the stuff happening. what does that mean? next, don't you want to know if people have stopped going to dinner, ask me, colonger of longshoreman, i would like to hear something bigger, how about darden, the owner of olive garden, the stock is down 40% year to date unfortunately that might make sense in the middle of a pandemic we're going to find out. how about housing, i hear that it's slowing housing stocks did badly in today's rally. let's hear from lamar, always a good conference call, and then we get results from one of my favorite companies that no one likes to talk about it, and a lot of it is the spell check

makes it come out can instead of acn, i think it's going to have a good quarter companies need accenture to digitize f. they say it's down big, i see all of tech getting hammered crowd strike reports and cyber security has been clobbered. i think the work from home thesis includes cloud strike they keep the off sight channels safe on friday, we get existing home sales. we need an upbeat number to justify seller in housing. if we don't get some sort of fiscal deal, something between mnuchin and pelosi and get it soon, then i got to tell you, it's going to look like this even if the testing looks like this and cohave i had loovid lo. let's go to chris in new jersey.

chris. >> thank you, and your team. thank you for doing a great job. we spoke a month and a half ago and people will stay home right o w, and do you think with you think that will benefit peloton, ptln. >> that's an overdone thesis i know people want to do it, it's too simple. we have to be far more nuanced than that. it sounds too good to be true and it is. andrew in new york andrew. >> hawaii jim, good to talk you. >> i'm an investor with 30 plus year time horizon, since the market has come down significantly, would it be best to front load my 401(k). >> no, we never do that. that is arrogant thinking. that's hubris tick here's what you have to do space it out no one is that good. no one is that right we buy in a scale on the way down we don't go in on a chunk.

do not front load. two months, three months, that's about all. the world has changed to much, and i didn't give you my bottom line, how difficult the next week is going to be if mnuchin and pelosi don't agree, and we get bad virus numbers. that's the bottom line new coronavirus infections, stay cautious i'm keeping up with the race of covid-19 vaccine, year and a half, year and a half, can we think about something that may mitigate it. with stocks rallying from their worst day in more than 30 years to one of the best days in 30 years, i have to figure out what's going on. i'm going off the charts to find out. as covid-19 continues to spread, and off sight working increases, could a work at home stock like, oh, i want to tease it, except for i already mentioned it, docu sign makes sense i've got the cpo so stay with cramer. >> don't miss a second of "mad

money. follow @jimcramer on twitter have a question, tweet cramer, #madtweets send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something, head to miss something, head to dmey.cnbc.com. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence.

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even after the president's press conference which sent the averages soaring, we have to be aware that the coronavirus is still in control of this market. if we see a bunch of new cases over the weekend, the averages will give up many of this gain especially the last few percent. what could change this dynamic, what makes it stay up. if somebody comes up with something, they can manage the disease. get people out of the hospital faster, and ward off the disease via voo via vaccine which brings me to eli lilly, that could be a big deal if it works let's take a look at dave bricks, the chairman and ceo of eli lilly, welcome back to mad money.

>> thank you for having me today! could you give the substance of what could happen here the science seems very complex but the companies that are involved seem to be up to it. >> there are many approaches that are going on across the pharmaceutical industry, and biotech, and academic researchers. this is one of them. we signed yesterday with, their approach is to take anti bodies which are the body's own response to a virus like this, and they actually isolated antibodies from the first survivors, people to recover from coronavirus in the u.s. they screen those antibodies for the ones that could be active against the virus, and now we're partnering to find the very best one, potentially modify it so it's more like a drug, and scale up production and manufacturing so we can test it in clinical trials and bring it to the marketplace. >> let me ask you, there are a lot of people saying this is a

hard thing to beat, and one of them is because there are apparently 294 variants of covid-19 skovrdiscovered and thr all different. they have their own characteristics, so it doesn't lend itself to what you're doing. is this thing too hard to crack? >> i don't think so. i think there will be solutions that will make a difference for treating patients. of course there are separate approaches to vaccinate which will take more time because you need to test those in healthy people, but it may take more than one medicine to help people recover for the sickest they get, but we're starting this because we believe it can work and by starting with the very material that helps someone survive, we think it's a good starting place to find an antibody or a cocktail of antibodies that could be gwynn -- given to patients when they

become sick. one thing i want to mention, the speed this is unfolding, literally i started this work 11 days ago we signed the deal today we hope to be in a clinical trial this summer. >> that is extraordinary this would be a couple year project to get there typically now a friend of the show, he's talking about being able to produce 200,000 preventative doses per month starting the end of summer, what do you think you could produce? >> we would be in a similar range. i'm not so worried at this point about the capacity to produce doses. again, this edicine, it's a similar approach, would first be used in those in intensive care units in hospitals and would not rise very much above the level you j just described for most people, they won't need to go to the hospital, eventually, these treatments, antibodies could be given as a preventative for those most at

risk, nursing home patients and those with diabetes and hypertension. >> you're a common sense call g guys and the guy most in touch with america as a ceo. this thing is a little scary everybody and maybe you can describe as a medical person what you're doing to keep your people who work at elilily as safe possible. i have never seen americans as scared as they are right now >> yeah, and i think people should be concerned but not frightened this is a highly transmissible virus, but most people who get it do not get very sick. the young in particular don't seem to be affected and that's very reassuring, but eight out of ten who are confirmed with the virus in other countries we know have not gotten severely ill. that should be reassuring. that said, we need to protect the health care system and those that are at risk, and as a result we have approached this problem by prioritizing two

things, first, the safety of our employees, and secondly keeping our employees who have to be coming to work, to make medicine, which is a critical responsibility we have keep them able to come to the office so we're now in a full work-from-home scenario at lily for everyone except those that need to come to make the medicine and keep critical laboratory experiments moving. people should avoid, i think, convening in large groups and we should practice those common sense measures like washing our hands, social distancing, coughing into our arm, et cetera, just to avoid the spread of the disease by doing all of this, we can flag the curve and preserve the health care resources and protect those most at risk, and i think that's everyone's responsibility, and especially one for us because we make medicines for people with diabetes and we know they're a high risk group, and we can't

let them down by having a shortage >> you and i have spoken off camera i'm the spokesperson for the american migraine association. i got a notice, one of my drugs can't be made because it's got chinese ingredients and it can't be delivered right now in time how do we preserve this? this is not right, dave. >> that's a difficult situation. of course most of the medicines that branded companies like mine, you know, innovative pharmaceutical companies, our supply chains don't rely on china, and literally none of our products come from china or rely on inputs that come from china, that's why we're able to confirm for patients who use lily medicines, they can rely on that supply, and there's need to stockpile or do anything different. a lot of generic medicines do rely on groeningredients from a the world, including from china.

i have seen a list, 20 or 30 medicines available at the fda web site it's a small number still but we'll have to track that i think the recommendation is to talk to your doctor about other alternatives because there are alternatives in many medication classes that could be used instead and are still widely available. >> i want to thank you for coming on short notice, thank you for what you're doing to help conquer the terrible disease. david ricks, eli lilly, chairman and ceo, what an amazing executive. what he has done for shareholders is great too. thank you for doing what you're doing. >> thanks, jim >> david ricks we're not talking stocks right now. he's quite a guy done some behind the scenes just as good as what you just heard "mad money" is back after the break. the barkins are empty nesters now.

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the most volatile market ever. while we've had some in 2008, even back then it wasn't this bad. crash of '87 that was a straight line we weren't whipping back and forth. we have had more 4% plus moves in the last ten days than any period in modern history i'm going crazy. the world is going crazy i want to do a special friday edition of off the charts, with the help of mark sebastian, the founder of option pit.com as well as being my colleague at realmoney.com, a resident volatility expert. this is one of the moments you need to take a step back and look at situation through a quantitative lens, trading has gotten highly emotional, even though this is the most volatile in history, the best point of comparison, is yes, the great recession of 2008. this man is a scholar of the volatility index, the vix for short and the fear gauge around

here yesterday was the vi x's fourth highest close ever the only times it ever closed higher were during the financial crisis makes sense, the vix tends to go up when the average goes down and vice versa the first and most important take away from the period, sebastian says peak volatility does not mean peak selloff don't get too exuberant about today's rebound, the s&p 500 and volatility index in 2008 and 2009 the vix spiked dramatically in october. you're looking at the vix here, the second highest close ever for the volatility index after we got positive data and the s&p 500 briefly popped, only the tank, again, a few days later. in response, vix spiked again, crawling to an all time high in november, incredible, volatility peaked it took months for the stock market to go to bottom

volatility did not equal a bottom in the stock market, just the opposite we had huge after shocks that dragged the s&p 500 down 12% lower by march of 2009 this was a brutal stretch even though volatility had peaked what was happening during the four months between the volatility peak and the bottom, while the s&p 500 continued to get lower, the vix was drifting lower too. by the time we bottomed in march of 2009, it was down 30 point from the high in november. sebastian is insistent that peak volatility doesn't equal peak paid sooner or later it stops being shocking let's circle back to the president. the s&p 500 and the vix for 2020 the s&p plummeted. vix moved up in a straight line. before closing last night at 75. if we zoom in on the action

today, as the market soorared ad volatility closed down despite recovering most of yesterday's losses, we haven't given back as much risk premium. it's still 58. that tells sebastian what, the smart money remains scared if this melt down is like 2008, he thinks we have an after shock coming, what does that look like after openingstrong, the s&p 500 went back hard while it was up slightly, the volatility index didn't erase losses, it surged to a high at just under 78. the market rebounded hard, and the vix came down hard the fear gauge was up versus yesterday, and yesterday was the worst day since the crash of '87. it tells sebastian it is built on shaky foundations and the one before that.

the last half hour of today is the definitive shaky foundation. the vix volatility index on the bottom, measuring the volatility of the vix itself. what's wrong with the picture, though the volatility index went lower, the vvix, well, what did that do, it kept surging at more than 10% that means there's the lot of money betting that the fear gauge will make outside moves like it did yesterday. the businesses say at this period of intense volatility might not be over. it could go to new highs, and the s&p 500 almost always goes down the vix needs to stop spiking every time the s&p experiences an inter-day reversal. unfortunately for the bulls, sebastian says we aren't there which is why he expects the averages to make fresh lows at some point, probably next week

even which is why it may pay to do selling if we get strength on monday or come in flat not down a thousand points the bottom line, the charts are interrupted by mark sebastian, suggesting that today's move was yes, the definitive dead cat bounce sooner or later, he thinks the market will be worth buying. more pain before we find a bottom greg in mississippi. >> professor cramer, thank you all for taking my call. >> of course >> my stock is uri, equipment and construction everywhere. the price to earn is really cheap seems like i bought in a couple of days ago, 70 shares at $98, how will the coronavirus and the oil issues affect the company. >> this is craig a stock that you buy when you get an economic boom if you believe there's a recession, you sell nine ways to sunday i happen to think that that's too binary for me. you sound like someone willing

to take a risk this has plenty of risk to it, big reward but too much ricsk more me. let's go to steve in washington. >> booyah, jim. >> thanks for what you do to help our fellow americans. >> doing my best what's going on. >> a hundred k in cash, looking at prudential down about 40% from last year's high of 106, what's your position on it and regarding the dividends and any other suggestions for the cash, thank you again, and appreciate it. >> prudential long-term i have always liked it, but it doesn't seem like the old prudential, frankly. i wish they would come on the show it seems so much risky travelers is less risky in that department, even though that stock is not doing that well steve. >> jimmy. >> yeah yeah. >> hey, first, i got to tell you something, i believe in you, and i know there's a lot of chaos out there, but i think you need to hear that >> thank you thank you. >> we're going to get through this mess together.

>> you bet we are. i have no doubt whatsoever we are going to get through and get through it whole what's going on? >> i called you over the summer when the markets were kind of flat, and i told you i have a lot of growth stocks but i didn't have any dividends and you blessed me buying starwood, and i have been buying it from the top all the way down here. and we come a long way down, and it's been painful. accident high yielders, that was a high yielder, now we're over 10%. are you throwing in the red flag on his, should i keep buying it. >> when i listened to the ceo talk this morning on squawk box, when there's something wrong, you don't go on squawkbox, i can't own stocks but this is a stock that i think is going to work out okay. he's a straight shooter, barry listen, this is the most volatile market ever, and our guy, mark sebastian, along with

other people i know through the vix gauge say do not get complacent about this rally. if anything it was phoney. he believes there's more pain before we bottom i'm not going to disagree. remember, this is about illness, and it's about. >> much more, docu sign, as more employees work from home is the company uniquely positioned to benefit, and there are tons of reasons people sell. looking to buy, i'm telling you what you should be focused on in tonight's edition of the lightning round, so stay with cramer . we are trying to make things make sense tonight i like to buy hysteria, not sell it i like to buy panic, not sell it we don't advocate panic because it's not a strategy. there are two kinds of companies the one that are at risk and the ones that are really at risk, but unboce is best

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close, we still need to adjust to the new stay at home economy. that means circling the wagons around companies that could benefit as more people work from home companies like docusign, a maker of software tools that help businesses digitally prepare, execute and act on agreements, you want an electronic signature on that contract, docusign, it's a verb here's a stock that has been a huge winner for the better part of two years before the coronavirus came along and the whole market but then last night docusign reported a fantastic quarter with incredibly bullish guidance and jumped more than 12%. they are expanding beyond electronic signatures to a whole suite of digital software. this pandemic will push us further into the digitization of everything, as well as strengthening the stay at home company. let's check with dan springers, the ceo of docusign. mr. springer, welcome to "mad

money." >> thanks for having me. >> you have a stock that we have loved for a long time on "mad money" but this is your first time on the show, so i would like you to introduce our viewers who haven't used our product to tell us what you do >> absolutely. well, most people of course know docusign for the leadership position we have had in e signature, and that is what brought us to the dance and how most people associate with the business increasingly we have broadened that to what we call the agreement cloud. in addition to the signature, we have built products that allow people to prepare agreements, go through that signing process they know and love with docusign, and then manage those agreements afterwards and that's the core of really what the docusign agreement cloud provides. >> i just finished using docusign i would say about a half hour ago to buy a house, and i didn't have to go anywhere and it was terrific and i'm so fearful of the virus that was nice to not have to go and meet everyone, even though everyone

around the table, likable people you have changed the way people buy things, correct? . >> that is absolutely true, and of course the case you just described with real estate is part of what brought us on the map. if you think about the largest real estate companies that are all docusign customers they have enabled their end customers to have that fantastic experience you described, even better in a heightened sense of awareness right now, but in general, a lot of people love that convenience of being able to docusign and go and get out there, back to doing things they love. >> look, fortunately my wife is in real estate, and we have done a number of acquisitions, this is the first one i was able to do while i was doing my job. thank you. i'm not theonly one. the revenue numbers here are extraordinary, plus 38 billings are accelerating plus 40 589,000 worldwide customers. this is rather remarkable in a period where a lot of companies are seeing a slow down you're seeing acceleration >> we are. we have seen our business perform very well throughout the

year we're excited about the year ahead as well. if you think about the source of that strength, i think it's two things, one is there is this digital transformation that large companies are doing. we also see for the small customers. one of the few software businesses go from the largest fortune 500 companies to the mom and pop businesses, that's how we get to the 589,000 customers you alluded to we have seen the efficiency of taking all of the agreements they have, putting them online, making that digital is driving our tremendous growth. >> one of the things that i was really encouraged by that you talk about is we all know we pay a lot of legal fees. we wish we didn't, but it's done by the hour. one large international information services company reduced the time they spent on legal reviews by 75% that must have meant they saved hundreds of thousands of dollars. >> yes, it's interesting, the efficiency, the roi of using docusign is a big part of why so many people come to us even more than the efficiency

from the savings of the legal fees you described and the hours of their in-house legal team, it's the customer experience, so now whether it's their internal employees or their end customers, they're having that fast efficient experience similar to what you described with buying a home, and that is oftentimes the biggest driver for our customers and the biggest value they receive by bringing their agreements online with docusign. >> that's right up the company's idea of ali trying to figure out how to get gross margins higher. aviation company reviews 125 agreements in a few business days that's a month long process. >> if you were doing that with a manual process and by the way, when we're talking about manual processes, we say our competition is paper and traditional manual processes people want to get away from it's harder on businesses, customers and harder on the environment when you're shipping the agreement around that savings would have been an army of paralegals reviewing all

25,000 customers would have taken them months and it would not be the quick, fast experience they get with docusign. >> i know out of a large total adjustable market. looks like from the acquisition, you could be doubling the total adjustable parkt si adjustable market size. >> we have talked about the tam for the docusign as being about a $25 billion tam, as we add the rest of the agreement cloud as i was describing earlier, preparing agreements and managing agreements, that gets to approximately double that we think that is substantial we're really pleased if you take a look at the clm side of the business, some came from the acquisition, we have moved to a leadership position. gardner came out with the new clm quadrant and have as one of the leaders at the top of that we parlay the strength and signature is off to a great start. >> has there been, i mean, i know you're not a profiteer, you

made that clear, has there been an uptick since the coronavirus? here's what we have seen, i think we're going to be like a lot of other companies, if there is a significant economic slow down, even with the high roi you just alluded to, we like all businesses will feel that to some stenextent but we have a rl powerful tail wind, if you think about the digital transportation and people trying to move digital, i think something like corona might accelerate that a little bit we have seen a few companies call us and say can we accelerate some activities, we would have done anyway but we want to be ready to work for home or as you show the concept of stay at home stocks i think we have a component of that, the focus is delivering that to our customers, the last thing we want to do is profiteer from a horrible human health situation but if it helps our customer accelerate their path wii going to be support i haivef

that. >> we all love you you save us time too thank you so much for coming on "mad money." >> the stock for both corporate and ndividual, this story is going higher "mad money" is back after the break. watch cnbc tv live on the cnbc app breaking news, on the go live tv on the cnbc app. download the cnbc app today. plus a powerful decongestant. so you can always say "yes" to putting your true colors on display. say "yes" to allegra-d. stay two nights and get a free night for your next stay. one night, two nights, free night. book now at bestwestern.com.

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>> announcer: "the lightning round" is sponsored by td ameritrade it is time and then the lightning round is over are you ready for the lightning round. bob in michigan. >> jim, it's a pleasure to talk to my hero >> you're very kind. what's going on? >> last october you were very upbeat about bed, bath and beyond, and their new ceo. i bought a bunch of the stock for the granddaughter's college fund, i was wondering, i would like to get more, are you still positive about it? >> first of all, retail has been horrible le

let's give it that. 1.5 billion in cash, matureties aren't until later in time buy for much less than cash. i think it's okay, the problem is of course retail is hated let's go to johnny in pennsylvania johnny. >> jim, i'm calling from villanova, pennsylvania, with my 17-year-old grandson johnny who manages a portfolio for us and has a question. >> i love the show, i watch you every day after school we have a break down on our portfolio, what do you think >> which one was it. >> >> raytheon. >> the merger with, i believe the merger with technology, except for i only want the raytheon portion raytheon is okay, i don't want otis, by the way, and i certainly do not want carrier. i like your idea and congratulations for thinking big as young as you are. pete in new jersey, pete hey, jim, thank you very much for bringing a sense of calm in these crazy times like you always do. >> sure darn trying.

thank you. >> i want to get your opinion, i know a lot of things are on sale, what do you think of general dynamics s >> it's good you're basically betting that president trump is going to win a second term. if the democrats get in, i do not think you can expect that you will have military appropriations as you get with this current president john in pennsylvania. >> hey, cramer. >> christmas kentucky derby, 160,000 people from around the world go there, what happens to a stock if it cancels. >> holy cow, that's why the stock fell so dramatically it's a binary stock, if they cancel, it's like what happened to cbs when net cancelled. it's a bad place to be i don't like binary situations they're too hard for this guy. chad in louisiana. chad >> yeah, booyah, jim. >> booyah, chad.

mdrx >> what the heck has gone wrong with that thing. this is electronic records keeping and it has just been destroyed and there's huge insider buying let's get the ceo on who just bought a ton of stock. that's the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade ♪ ♪ ♪ but in my mind i'm still 25. that's why i take osteo bi-flex, to keep me moving the way i was made to.

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few things are tougher than reevaluating stocks on the fly, trying to figure out what to pay for something, you arrive at a price for your rational analysis, then some panic seller comes in and takes out the price in a heart beat. suddenly your rational analysis means nothing, and that's what happened yesterday and it led to some great trades today, believe me, though, this thursday down, friday up cycle will happen many times until we this scourge. it's always shocking when sellers dump something for less than you would be willing to pay for something. makes you feel like your home work is worthless. why bother figuring out what a stock is worth when the shareholders don't even care anymore. it's always worth figuring out what you should be willing to pay. in times of stress, you have to realize there will be plenty of sellers who aren't thinking rationally, they want out to stop the pain or need to give

the money back to their clients or some al goe rhythmic set up makes them sell sell sell. we saw that yesterday and in the vicious dip today which was a great buying opportunity there are a ton of reasons people sell into the teeth of a market wide melt down. there's one reason to buy, you think the stocks are only going to go up that doesn't mean it's going up immediately. you better leave room to buy in weakness from your panicked fellow shareholders. we're still not getting good news or numbers on the coronavirus front. even though the testing process now looks like it will be expedited. near the end of yesterday's, what if something positive occurs, i looked at theprice after the close, i said to myself, man, what i wouldn't have done to be able to get those prices on the way up, of course we're not on the way up anymore, other than the squeeze at the end of the day. still, i think it's worth going over the concept of evaluation for a moment

first things first, inflation, we don't have any, the price of gold is telling us we have deflation with the decline this week and in times of deflation, you should be willing to pay more for earnings estimates, a dollar five years from now will have more purchasing power than the same dollar today. so will stock. we have tons of businesses where the estimates are still realistic, that includes everything from the hyper growth tech place, like you saw with docusign to the utilities. they deserve higher price to reach multiples than they were getting a month ago. relative consistent earnings should be worth more when the smoke clears we have a binary situation with the pandemic, i think stocks will give up some of these gains. this feels like one of those short squeezes we saw in 2018 whenever tarp looked good or a bank was saved we got bad news and a quick give up that was worse than the run up. the moment we get the outbreak contained, i see the averages exploding higher, so much stimulus pumped through the

economy from govrlernments all over the world you have to buy things on the way down, monday when we have a big give up. when we get a handle on the situation one day, one way or another, it won't be too late to get back in. once this is beaten, you want to look back and say bought when no one believed after the huge afternoon run, i think very few people believed and thought the close was phony. it wasn't enough time to get the cell orders out. i think they will not believe for longer than we like. since we have no idea when the pain will stop, you have to prepare for a possible bottom. buy high quality yielders, and fast growing tax on the way down i'm confident you can ride out with diversification this whole thing with me together stick with cramer. pharmacist-rd memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

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i know at the end of the day, it felt real good if you were a bull. until you don't have to do this

anymore every 15, 20 minutes, i'll tell you, we're in for a long, long, up and down ride see this is what has to change not the stock prices we don't have this thing under control yet. it was terrific to see all these executives get together. i like a lot of the ideas that the president did. some of them were suggested by me, so i guess i like them, but we are not, and we even like the fact that nancy pelosi seems to agree with steve mnuchin on some plan that is going to pump money into the economy to save the working person but you know what, until we get this under control, stop worrying, you're going to see a lot more days like yesterday and i believe fewer days like today. and i want you to think about that next time we have a big rally, you lighten up so you're ready when we get days like yesterday because they're going to be more prevalent, i believe, because there's too much not great ahead. i always say there's a bull market somewhere i promise to find it right here for you on "mad money. i'm jim cramer

i will see you monday. our special starts right now good evening, everyone i'm tyler mathisen this is day 75 of the coronavirus crisis tonight, the president declares a national emergency and the white house announces a slate of new moves to blunt the virus will it work and can it stop wall street's free fall? right now it is a positive day for the dow. >> stocks soar, reversing yesterday's massive decline. >> today i