>> seeking downside exposure buying a put spread in caterpillar, selling of call spread in match.com. >> mike, last word >> i like fxi and by the way to the ford call buyer, i bought some of those january calls today. >> "mad money with jim cramer" starts right now 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 a special west coast edition of "mad money. i'm just trying to help you save some money my job is not just to teach, but to entertain, educate. call me or tweet me.

nasty week miserable. capped off by a terrible consumer price index number. inflation so hot fed with an emergency rate hike on monday. not even waiting to wednesday's meeting. i know that won't happen, but we do need a bigger hike than the fed is thinking. after the cpi figure, shell the plan for 50 and hit us with a 100-point hike to shock the system yes, inflation's so awful that the dow correctly plunged while the s&p -- and nasdaq nose dived 3.5. >> sell, sell, sell! >> like asurprise end to ukraine, but don't hold your breath maybe china drops its draconian lockdown policy.

unlikely maybe president biden can convince american oil companies to boost protecduction, but he doesn't seem to be trying hard you have to accept radical acceptance adopt a policy of radical acceptance of these negatives. steal yourself this awful moment we'll get through this together. that said, there will come a time when we start baking in these red hot inflation numbers. they do burn out, but only if the fed keeps taking rates higher and once we do that, we'll no longer have such a visceral reaction to every angel c analyst price target, cut, or downgrade. wouldn't shock if me today's meltdown was the last straw. we need a top in interest rates. we are going to get there, people i just can't tell you when in the meantime, know the companies in san francisco have only just begun to realize that they overexpanded and in many cases, some of these companies should never have become public. just couldn't resist the temptation because there was so much money in the system

i say it's just beginning. because many of the valuations kicking around for privately held start ups that i looked into this week are so wildly high versus their public brethren that a less diplomatic person would say stop lying to yourselves your company may not even be a company. it may be just a concept you beg ginned up. but for now, vcs, companies, investment bankers, we're sick and tired of pipe dream stocks nobody ever says this stuff because they care about making friends. i'm perfectly willing not to do that again, there needs to be what i call radical acceptance out here radical acceptance i'm going to keep using the term, that the stocks of companies what i consider to be made up financials adjusted ebitda nonsense should go back to the drawing board not talking about tough love here i'm talking about tough truth.

especially for the most bogus companies that were invested in the last three years i say they should never have become public, in many cases, shouldn't exist. harsh? maybe, but i'm trying to help you preserve your capital because a product is not a company. that was something i discovered in this trip beyond a shadow of a doubt. that's really killing us look, i have been on both sides of this business in my years on wall street. i've worked at goldman sachs, i actually brought a company public that i admitted repeatedly was overvalued and was concerned the public market was too bullish about it i was told my people bigger and better than i am thought i ought to shut my mouth read about it in confessions of a street act i was never afraid to tell the truth about overevaluation and i'm not now. it doesn't end let's go to the game plan for next week. on monday, oracle speaks this might be the chance

the era of tech disappointment the software company can talk about how cheap its stock is and all the new clients they get i expect that. if oracle goes down for that, we know tech is sunk and the depths are not yet plumed i think it will be great and if it doesn't matter, there could be more pain ahead tuesday, affirm holdings has an analyst meeting. i've warned you away from the stock, but i have tremendous faith in the company however, "the wall street journal" east questioning the buy now pay later business they have that's devastating for the whole industry, but i think affirm's better than its peers. still, we find out who's right at that meeting. i'd like to bet with affirm, but that doesn't mean i'm betting with the stock dupont's meeting on tuesday,

too. i think the ceo can cloear out the disappointment we're living in ed tells us like it is he'll be asked if there's a recession. we'll have lots of hedge fund managers pontificating about how the economy's terrible because of inflation fed chief powell's done a bad job. ed doesn't care about that stuff. he just doesn't talk like that but if he says we're going into recession, i want to know how long because at that point, if ed says it, it is inevitable. wednesday's the most important day of the week. will they stay with 50 basis points or will today's hot cpi reading force them to act more aggressively like i want them to and if they do act progressively, will the market welcome that news or will we get another selloff? we'll have to wait but if we get 100 basis points, that's a bad secondary reaction.

good thursday, kroger reports anything like last time, you're going to hear a compelling story about how a supermarket can localize, premiumize and then win over its rivals. employs every bit of relevant technology you know what i keep hearing about them, in order to transform itself there's so much inflation in the grocery aisle that maybe it can't run ahead. but i'd still bet with these guys not against them i just wish the stock weren't so high after the close, adobe reports i think it's going to be great, but no one will care unless bond yields go down that day or gasoline stays flat. adobe's a terrific long-term growth story you might want to buy some on weakness, but don't count on it to turn around soon. leave more room to buy more. i run a charitable trust as part of the cnbc investing club today was brutal on really ugly days like this, i prefer to buy. not sell today i debated buying

honeywell. that's an underappreciated story. the company has economic sensitivity and right now, all that is just the kiss of death so i'll keep my battle on my shoulder unless honeywelcol com down could be worth picking up. let's monitor it if you belong to the club, you'll be kept up about whether to pull the trigger. finally on friday, centine has an analyst meeting the man who created this healthcare power house michael was one of the greatest people whom i've had the privilege of meeting since starting the show. when the cameras stopped, he talked not of business, but of charity. of compassion. and always how are my kids doing. so bottom line, next week can be a continuation of this week unless we get a break in china, ukraine, or at the pump or the fed does something big you'd think that we'd be used to

all the negatives we keep getting by now, but we aren't. it will be very hard to have a real bottom until some of those things change. i want to take questions like to start with eric in tennessee. eric >> hey, jim. thanks for taking my call. >> you're quite welcome. >> my question for you is regard to waste management, wm. this company has historically been a growth through acquisition company. they have become a world domin dominator in the area of waste disposal growth has slowed, however margins have been very consistent and the company has raised dividends every year for the past 17 in a row with a pe of 34 and a price to book of eight, is this stock too expensive? >> the problem is, it is i have liked waste for a long time i think jim is a remarkable manager, but we like to buy companies that make things and do stuff that return capital also sell at a reasonable price and unfortunately, waste no longer does in a market that's

this unforgiving next week could be a continuation of this week unless we get a break in china, russia, at the pump, or the fed does something good tonight, fresh off analyst day, i'm with lisa sue. then docusign and stitch fix cratered today after earnings. are these two compelling enough that you should buy them i'll give you my take. and cybersecurity is still one of the most important cohorts that's still working that we heard from out here in san francisco. i'm sitting down with the ceo of si cyber ark. so stay with cramer.

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today's red hot inflation number crushed all stocks, tech, just awful even the ones with positive catalysts. last night, the new class of space held this terrific analyst meeting where they laid out their upcoming product slate and raised their long-term margin forecast just what we wanted. so on any other day, the stock would have roared. instead, the news got buried in an inflation avalanche now, i'm definitive about this i think it's a buying opportunity for the charitable trust. that's why i was thrilled when i got a chance to speak with dr. sue. the chair of advanced micro devices here at our san francisco bureau take a look. many years ago, you told me this

would be a company that could be a dominate company in semiconductors in silicon valley it's already there it's intel yesterday, full-day meeting, you've not only caught those gois, but you're well past it and doing new things that i think make it so that you are the premier semiconductor company when it comes to computing. tell people what you did yesterday because it was remarkable >> absolutely. first of all, it's great to be here in person thank you for coming to silicon valley with us yesterday was a big day for us it was about the long-term and when you think about the journey we've been on with amd, it's been about building a foundation of being a great computing company and we've gotten a lot of scale now so if you think about all the growth we've seen over the last couple of years, but i'm more excited about over the next five years. we see everybody needs more computing. especially the high performance competing and that's where our sweet spot is. >> and there was a moment that was breathtaking in the call

yesterday. which was that i hear victor peng he was the ceo of a company, now president of adaptive computer and i've got to tell you, it was breathtaking to hear this man talk about a company dove tails far more perfect than anyone on wall street thought. >> we completed the acquisition four months ago and it was an acquisition for us to take a step back and describe why it's so strategic if you think about everything that we've done as you know, amd in the high performance computing market, xilinx and victor bring number one leadership in adaptive computing. when you put those together, we are touching everybody billions of people are using amd technology and we see that just increasing as we go forward. >> people should know this was a day where you talked about automotive smart city

healthcare these were not verticals i knew amd would be in before xilinx. >> that's right. i think what we built is really a truly diversified company around computing, but around insuring that we have sort of lots of businesses that can build off the same technology base so yes if you think about where we focus, we're still extremely focused on the data center but we see a huge opportunity as we think about ai going forward and how it plays into you know, industrial and healthcare and all of these other verticals it's a very nice mix of businesses >> there's a lot of ai and again, those of you who think that amd is a gaming computing company should know when you talk about transportation, that's ai. aerospace is ai. it means to me mote. nobody can come in, rip yours

out and put somebody else's in skbl i think the beauty is that we can be in every part of the ecosystem. in the cloud, big exposure at the edge and all the interactions in communications there. then in devices. yes, we are in devices as well but i think having all of those technology capabilities actually makes us extremely strong and a great partner for some of the largest customers in the world >> you had two moments that i found somewhat an thet cal i love the raising of long-term margins. i'm a huge believer in that and you delivered. we expect at least one bad quarter. i am hoping that at a certain point, the mosaic of amd would make it so it wouldn't be one bad quarter. still not there yet. >> jim, this is really the transformation of our company. if you look a few years ago, we were 90% exposed to you know,

pcs and consumer we see the macro environment out there. it is a little choppy. but when you look at our business today, it's just a completely different profile so, yes, we're very cognizant of what's going on in the market but we also see you know, tech is about long-term bets and making the right strategic bets and so yes there are some segments that are a little soft, but then we have segments that are very strong as well including data center, the embedded segments. and all of that gives us you know what i think is a great portfolio to continue to grow and grow significantly above the market >> i will push back again. you did mention many times about gaming when i spoke to the ceo of best buy at length, her store, she's terrific she's afraid the gaming cycle will peak next year and it will just pause not unlike the low end computing. something you're concerned about? >> i look at this as you know, again, there are lots of gamers out there.

billions i think we still see it's a strong cycle and people are gaming on different platforms. so i see you know, a really strong cycle now, that being the case, as i said, the beauty of model is it's a diversified model so with our businesses, i think you have a lot of different levers to play as you go forward over the next three or four years >> now, there were some comments about where you were versus your competition. i look at bernstein. good firm. and they are talking about how your president, i like to call him the italian cities milan, tourin. these are beautiful towns, but point-blank, he said you're the roadmap is pulling away from your competitor, intel, because their roadmap is delayed i spent a lot of time with pat g gelsinger, the ceo of intel. he seemed to disagree. there seem to be data points that indicate you are well

ahead. just using those, tell me where you think you are versus them. no hyperbole, but just point-blank, speed effectiveness. what the customer wants. >> well, we are laser focused on technology leadership. i mean, we must, that is sort of our foundation i would say today we have the best products in the market. >> nvidia. >> best performance. power efficiency sustainability is a big thing. best security. so we are laser focused on continuing we continue to do that we talked about our long-term roadmaps everybody likes to know what you're doing over the next few years. we are on track for our next generation that's launching later this year and we talked about what's in the hopper >> we're in favor on "mad money" of companies not valued too high, that make products that do something we all need. that have return capital

that is most certainly you the return of capital is extraordinary here can that continue? xilinx, too. you may have the best balance rivaling hock tan maybe. >> yes we look at this as a very disciplined capital allocation model. we're generating a lot of cash right now. we see in the long-term we'll continue to generate cash and we want to return a good amount of that to our shareholders all of our stakeholders should be happy with the progress at amd. >> next question i've been very honest about it i see the same lisa sue. do the best job, everything works. can you keep that mindset in a place where people worry about layoffs, about the economy. >> the way i look at it is there

are these things in the market, cognizant about the signals. it's our job to navigate through those and think about how to add value the following year going forward. we're going to navigate through those. amd's never been in a better position and it will be a fun ride. >> you're one of the largest positions in my charitable trust. been a believer since $5, but you told me the truth. lisa sue and the chair and ceo thank you so much for coming here in person great to see you "mad money" back in a moment z >> coming up, when a cheap stock isn't cheap enough cramer steers you through a couple of hot potatoes, next

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today was a horrific day in the market but terrible for some of the most beaten down digital stocks docusign and stitch fix. these two plunged 22 and 18% respectively in the wake of truly awful earnings while it's not surprising to see stocks meltdown, it's remarkable when you consider how far these two former market darlings have already fallen think about this docusign was down 72% from last year's high when it reported stitch fix had come down 93% from its peak. they've come down so far you could argue they were cheap on certain metrics, but as you saw today, they deserve to be cheaper. you own companies that make real stuff, turn a profit, distribute those profits to shareholders. you also have stocks to trade at

a reasonable price neither docusign nor stitch fix fits that profile. when your stock doesn't have dividend support or earnings, there's no floor in this market. if you find yourself asking how low can it go, the answer is almost always lower. here on "mad money," we don't care where a stock came from we only care where it's going to with both, many people told me it couldn't get worse. these stocks were down so much they just had to bottom, but that's not how it works. these newer stocks, the ones coined in the last three, four, five year, they've been insanely e expensive at times so as their business deteriorates, they can fall very, very far before they find any support at all let's look closer at how these two imploded we'll start with docusign. the rare cloud stock

the digital signature platform makes it possible to sign important documents over the internet that was already useful before the pandemic, but once coindcovid hit, it became the safest way. one of its -- made my life easier you don't need me to convince. and this is a sir mix a lot. that doesn't mean -- sometimes a compelling product isn't enough. during the early days, the business caught fire their earnings per share grew from 30 cents to nearly two bucks last year. so it made perfect sense that the stock was unbeatable from the start of the pandemic through last august. but it peaked around $315. in retrospect, that was way too high before the fed came up with easy money, stocks like this one were trading at sky high price to sales multiples.

sold for 44 times sales at the peak earnings, sold at 185 times. now that is insane even before the fed started hitting the price, docusign pulled back to the mid 200s. we knew it would do worse as the pandemic receded then investors began to bail last night, docusign had a decent beat, earnings miss their guidance was mixed, too. while management gave you in line revenue and margin forecast, the buildings forecast were much weaker there were two major issues. first is margin erosion. while we've gotten used to companies having good sales but weak earnings thanks to inflation, that shouldn't be the case thanks to a software company. instead, docusign's having to compromise on pricing that says they're more competitive second problem, the weak

outlook. management made vague comments about customer demands and use cases and the macro environment. no wonder three analysts downgraded today three. who was still recommending this thing? and the stock plummeted 24%. but at decline, i can't call this cheap now sells for 37 times earnings. that's expensive sure it's a heck of lot cheaper than it used to be, but that doesn't mean anything. this is a far different market than a year ago. okay what's the right price to pay for docusign with growth stocks, you never want the price to do more than twice the growth rate. unfortunately, it's no longer a growth stock the earnings are set to decline this year. and nobody wants to pay up for a stock that's three earnings. and who knows if they can even make the numbers especially after the bottom. had terrible action today. here's the bottom line there is no serious way to value this thing because a growth stock with no growth is a pariah

and that's how they can't find a floor. how about stitch fix the personal shopping service doesn't even sound antebellum somehow? okay, this is another one that had a great run during the darkest days of covid. because people couldn't shop in person and it's peak in 2021, it was trading at six times sale, which may not sound the crazy for a cloud stock, but this is not a subscription business. it's a cancel anytime retailer so six times sales is a lot of money. right now, macy's doesn't even sell for six times earnings. the stock should never have been that high and it spent the better part of the last 18 months going lower increasingly soft guidance which explains how it could be down more than 90%. 90% from its highs we knew this would be a bad one because even before we got the results yesterday, cnbc reported that they were laying off 15% of its salaried workforce sure enough when results came

out, stitch fix saw the base shrink by 5% with 112,000 fewer subscribers. they had a wider than expected earnings loss. more importantly, discouraging guidance, too, hence why the stock toppled another 18% today. even after falling 10% yesterday. margins taking a hit their retail business is struggling just not a lot to like here. i honestly have no idea. this market is mercyless to unprofitable companies sure, stitch fix had fallen to the single digits, but if you thought it couldn't go lower, you were diluting yourself this one's untouchable when core business starts to stabilize the company's worth almost $700 million. that's a lot for a money losing, personally curating clothing outfit bottom line. we don't care where this former market darling has been.

or docusign. we only care where they're going. and with business getting worse, there's nothing to stop them from going lower regardless of how much we like the product. let's go to steve in california. steve. >> boo-yah, jim. thanks for taking my call. i'm a first time caller but long time listener of your fine show. >> thank you very much >> question on microsoft i sold my position in year just to lock into some profits and i was waiting to get back in and i thought it put in a good double bottom in may, but now after today and tomorrow, i'm wondering should we wait or is it time to get back? >> i think you buy a little microsoft. we're saying that for the cnbc investing club i think you buy some on monday it's such a good company you're buying it down almost 100 points from where it was that's all right with me why? because it's a real company with real dividend. pays back a huge number of

shares we don't care where the stocks have been, we only care where they're going. and i think they can still go lower. much more "mad money" including cyber ark. could it be one of the themes that's working out there i'm checking in with the ceo then it's time to understand what it's like to be in a bear market i'll give you my playbook on how to manage and all your calls rapid fire tonight's edition of the lightning round. so stay with cramer. how do we show strength and stability? (eagle call) a mountain? a tree weathering a storm? (thunder) lions? nope. (lion rumbles) we do it with our people.

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market's rolling over again. which of the tech stocks managed to bottom early during the last big meltdown in may? how about cyber ark. when this security software company reported a month ago, subscription, this stock got pulverized it bottoms may 12th and since then, down more than 30 bucks. can they do it again we had the chance to catch up with the founder, chairman, and ceo of cyber ark take a look. >> you were on a role. since i've seen you last, the company's gotten bigger and better 250 customers over the first quarter of 2022. in almost every single vertical. have they figured out how dangerous things are or how good you are? >> great to be back, jim yeah, we've gone through amazing transition with cyberark with our sass offering. it's become a must have layer. so that explains we got a record

q1 in terms of new logos it's the expansion to all identities >> there was a transition your company made much more important. basically what you made, it's given you a good path to profitability. so we're no longer taking the idea, you're one of those companies that's been making money. >> absolutely. we were profitable before we announced our position and we're on our way to get back there and we announced finishing the transition in five quarters as opposed to the eight to ten we first told the street. >> that's remarkable some of these go over. now, there are some things that have happened that are very worrisome to our country you said 84% of energy and utility companies have been hit with a successful attack now, are they just hiding it are they just not telling us >> this is back from surveys we did to companies coming back some of them are just not reporting. some are minor

we surveyed 1500 companies out there and 70% of them said they had a ransom ware a tack or two in the last 12 months. >> you have done machine identity work that i think would make it so, and you partner with okta so they hire you it's harder to do extortion. >> absolutely. the management layer is covering the human aspect and also the machine aspect where applications are talking to each other. they're using secrets. so we've expanded the platform for all types of identities. with okta, it's a huge space so we're going after that as well where a customer that trusted us for privilege user can trust us to secure all types of users >> i have told people over and over, it means the bad guys aren't going after anyone. they're going in for the high level guy that they read left the company and they borough in

through that person and that person has access to everything and that's how you can stop them >> it's only expanding with the move to cloud, a privileged user is not just a classic i.t. person. >> and work from home. >> work from home, open it up. for us, more identities to secure and that's what we're going after. >> that's why your retention rate again is just extraordinary, right people just more and more, they just get bigger and bigger with you. >> we've grown a lot customer base is now 8,000 around the world but also employees find a true mission in cyber because it's an impactful layer that makes a difference >> let's use the customer. a cruise ship company hires you. what are they trying to stop >> they're absolutely under attack they have financial systems. hoteling as a cruise ship they have personal identifiable information to protect credit cards and a lot of data so they

start with the privileged access management layer covering the users. but keeping it away from bad guys then expand to all of their employees. >> have you seen companies had their whole outfit shut down their conveyer belt. actually the gut of the company shut down by bad guys? >> absolutely. as we speak, costa rica is going through that here in san francisco, i met with them, things moving to manual processes these things are real. they reflect in the physical world. >> you have hospitals and could they make it so you can't perform operations >> we're passionate about the healthcare sector and that's why we protect those keys to the kingdom. so even if there's an infection, it's going to be minor and not something -- >> do people know how dangerous it is not to hire you? >> it's becoming a growing

awareness that it's a must have. identity security is a must have and you can see that in our growth >>okay, i want to know how do i presume that my bank has you because if not, maybe a little bit of money of my account's taken out every week and next thing you know, because that's what a bad guy would do banks know about what you do >> banks are aware it's been the fastest growing sector when we started now we've been multivector in all sectors. there's a joke among cyber employees when they see a bank or airline that's not using cyber, they choose not to fly or bank there they're worried. >> and the other guys, you can bring in zero trust and that means that it is most likely that they are not, that a bad guy would say, you know what, i see that customer has cyberark i'm going to go after another. >> yep that's our goal. it's a team sport in cybersecurity, but our goal is

to be an important layer that makes it very hard for them and if they try to go around it, they're going to make a lot of money. >> where do you get your people? everybody tells me it's impossible to hire and how do you trust your people? >> first of all, trust is the most important we go carefully in the hiring process, but we stand out. we have great retention rates and people come with a true sense of mission >> i want people to understand that no one from your outfit has then gone to the other side. >> a lot of people come from military backgrounds where we can really screen them it's an advantage for us there's a good way to refer employees and check them out and they get connected to the mission. customers want to come for cyberark it's a culture of making a true impact in cybersecurity. >> i want to congratulate you. you had a different model. when i first met you, i said i don't really unls this if you don't hire these guys,

then there's a very good chance you will be hacked and i don't want to fly or bank with someone who can be buried into by a bad guy. the founder, chairman, and ceo of cyberark. good to see you in person. thank you. "mad money" will be back >> coming up next. >> let's make money again. what have we got >> cramer's bringing the thunder and answering your burning questions in today's edition of the lightning round. hey businesses! you all deserve something epic! so we're giving every business, our best deals on every iphone - including the iphone 13 pro with 5g. that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing business customers

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lightning round is over. are you ready? lee in illinois. lee. >> hey, jim. how are you? >> i am real good. you know i'm just getting started out here really starting to get fired up. what's happening >> well i'm lee from beautiful illinois and i want to know what you think about nio? >> i don't like to buy chinese stocks they come in, cut your heart out. let's move on. how about michael in the small state of delaware. michael? >> boo-yah, jim. >> boo-yah >> on a day like today, it's hard to have one of those, but delaware, i'm feeling it here. i'm having a hard time what do you think about mirati

therapeutics >> i've always said you could own one as a pure speck, but understand you can use all you put in, but as a pure spec, i think it's a good one. carter in illinois >> hey, jimmy chill. how's it going in california >> i'm chill out here. got to tell you. can't beat this place. what's happening >> my stock is johnson controls. jci. >> nobody wants this going into recession. even though i think in 2.7, 3.5 yield, i think this one works. right now, people think they're going to miss the quarter. i don't think they are chris in massachusetts chris. >> hey, jim. how you doing? >> pretty good how about you? >> good. first time caller. thanks for taking my call. appreciate it. >> excellent >> i just want to say i appreciated your comments on inflation this morning 8.5 readings are seeming a littlelow. >> got to be tough we need more than what the fed's doing. it's okay to admit you're wrong.

just got to be more aggressive move on. let's go >> absolutely. anyway, the stock i want your thought on, it's a bit of contrarian pick right now. but it's zuo >> losing money and we like companies that make things and do stuff, return capital to shareholders because they're profitable if it doesn't fit what you should own winton in kansas >> hey, jim. thank you for everything you do. >> just getting started. what's happening >> so, i was doing an internet search earlier this week and i accidentally fast fingered my search and came across this company. they're a shipping company and they're down about 20% since monday anyway, then earlier today, i was listening to the president's speech and wondered if this was one of the companies he was referring to the company is golden ocean

group. >> no, i do not think that's dry bulk i think he's talking about companies that may be sending pressure stuff over. consumables. these are ones, these yield 15%, a lot of them yield high i'm suspicious when i see that high of yield and i always pass. always sometimes i'm wrong, but i pass. let's go to jim in florida jim. >> boo-yah, jimbo. >> boo-yah >> love your show, man >> thank you very much we love del ray my wife loves it >> you've been inspiration to our grandson >> thank you we're going to keep going. we are unstoppable at the club doing a piece this weekend for you. what's up? >> we're wanting to find out what you think about -- blue owl? >> i got enough problems with major league banks i don't need to fool around with minor league banks and with

that, the conclusion of the lightning round! >> coming up, it's almost a wrap from san francisco but cramer goes buzzer to buzzer and we're not done yet on "mad money. e is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and just might change how you trade—forever. because once you experience thinkorswim® by td ameritrade ♪♪♪ there's no going back. how do we show strength and stability? ♪♪♪ (eagle call) a mountain? a tree weathering a storm? (thunder) lions? nope. (lion rumbles) we do it with our people.

you have to get your arms around what it means to be in a

bear market. first, it's going to frustrate you beyond measure there could be days, maybe even weeks, where everything looks perfect. and those positive moments lure you in i like to fish when that fish sees the warm or the minnow, he's thinking things are finally looking up free meal. instead, he ends up -- unless it's catch and release time, he's dinner. you don't want to be dinner. you don't want to take the bait for that free lunch of a beautiful day. so many people asked me this week when is the market going to stop going down. we need to see one of three things one, the war in ukraine ends the market doesn't care who wins so long as farmers can plant wheat and russians can xport oil. i'm rooting for ukraine, but wall street can be heartless two, china's attempt to stamp out covid by totally locking down vast swaths of the country for long periods of time

wouldn't be the problem if they would by the good mrna vaccines for the west and we don't have immunity to this disease three, somehow break the back o inflation by rate hikes or the president sweet talking oil companies. perhaps carbon capture tax incentives so far, that's not happening every day we hear something negative from the stock market, it causes one of these three issues earlier this week, we heard apple's fee might be hurt by china's locked down consumers. later in the week, their numbers cut and there's no end to the inflation woes and worries about how the fed will have to raise rates. wrecking all sorts of industries like housing and retail. ra rates soared again today as long as all three of these problems are on the table, the market's going to be stuck in this mode. you can't just say sentiment's

gotten so bad we have to take the other side of the trade. sentiment's bad because nothing's good right now, it's right to be bad. that said, today's smoking hot consumer price index, some of the key components are plentiful. but sure feels like we can't truly beat inflation without hobbling the consumer. we've got so many supply chain problems creating shortages, the fed machndated demand and destruction could be the only cure then the logical question is why watch? why bother owning anything in this market? it's simple. issues are going wrong, but really, what are the odds they all stay wrong you know what, i think they're slim to none it's just about the time if you can, look, i'm going to give you some -- if you get into -- do some selling and get back in at lower level, but most

people aren't that nimble. as i say to the investing club members, i don't know when the pain will end but i'm not going to be left behind when it does i like to say there's always a bull market somewhere and i promise i'll fine it here. i'm jim cramer see you monday, the starts now >> new data shows prices are still soaring. i'm shepard smith. this is the news on cnbc consumer sentiment plummets, and the markets tank on runaway inflation data >> 8.6%, continues to be the highest since '81. >> the consumer price index numbers drop for may what they mean, and a look ahead. the uvalde school police chief gives his first in depth interview, why he had no radio, no tactical gear, and no keys. and why he's proud of their response after 21 people