>> that's 122. that's. >> 122. >> so all support. >> $6 up from here. >> that's it. that's not that far. its short term resistance in the way resistance tends to work past those levels that will be new supports and then hopefully will see the upwards trend from there. >> all right. jessica, thank you very much for the ideas. >> thank you. all right. that does it for overtime today. fast money starts right now. right now on fast a fed ponzi scheme. one top investor said that's exactly what the central bank policy amounts too. what has him so concerned what does it mean for the markets. the and two long battered stocks plunging but the chair woman said a look at the debt for the countries tells us two very different stories. we will get the fine print on the moves in carnival and bed, bath and beyond. and the data center stocks the next big short. the reason behind the call and what it could mean for the tech

base. this is fast money. live from the nasdaq in the heart of time square on the desk. . a major warning are rh. shares dropping after they lowered their revenue outlook for the year siting higher mortgage rates and a slower housing market for decreased demand. the warning comes 27 days after rh posted fiscal key one earnings. it joins companies like microsoft, and target which cut guidance due to quickly changing market conditions just weeks after reporting earnings. karen. the release is very interesting. he cited a number of reasons why consumer demapped would be slowing yet they still gave guidance for the rest of the year. >> yeah. that's the part i really don't understand. i think companies should not be in the guidance business at all. you have an opportunity here. this wasn't what we thought.

good for them. i don't know why they felt like they needed to do this. maybe they are presenting or maybe they want to keep the share holders up. they don't have a duty to do it. they give us that. i don't know what gives them the confidence to talk about the quarter after. i don't get that at all. to have operating margin guidance. i don't understand. you see -- we know and they know, they are telling us things are changing very, very fast. our business is changing. i don't know why they do that. i feel like it -- potentially puts them in a bad light if they can't make those numbers. i think they should just get rid of guidance for right now and it gives so many other companies sort of, you know cover to do the same thing. >> another one of these company that have come in just after giving you guidance. they said we haven't bought any stock back and they just announced a big stock purchase plan. they went out of their way to say we haven't bought any stock. when a company says we aren't buying stock right now you almost think their stock is going lower. i just -- you know you look at

restoration hardware and their business. fact they is siting luxury home sales down 18% the fed hiking 275 base points. these are things you don't normally see out of a ceo. i get the luxury home sale dynamic. i think if you look at hardware, hardly expensive. the one thing i would warn you about the chart look at the last few months, we are looking at companies, you can see 220 is where you are back to february 2020 levels. if you go back to june of 2019 and i think this is something that you can express across a lot of other different stocks, it was before covid we were going stagnation. the market rocketed in to that february 2020 level. i just -- i'm not pushing, trying to push restoration hardware around on a bad day. it's a cheap company. i think they have done a really good job of talking about though won't be promotional. they will try to toe the line. they said that their last

number but cheap isn't good enough. have you gotten a catalog? its it like ten pounds of glossy pages. it has to cost a bundle. him i'm not sure they send that out. everybody shopping online. maybe that's the reason for the margins too. when i look at the stocks, jim nailed it. february 2020. home depot is still above that level. you talk about not -- people not buying houses and that's going to be a head wind for them. what about home depot? it's -- >> not even down in the after hours. it's down 15 bits. i would have thought home depot would have responded to this number. >> that rh warning guy this is a different kind of consumer. this is a high erin come consumer. for them to say over the next several quarters this consumer demand will continue to slow. that is a statement on the higher end consumer we thought would spend no matter what. >> you know what is fascinating to quote meatloaf, taking the words out of my mouth. what struck me is they

announced in this release by the way we have not bought any stock back. they announced that 2 billion buy back on the 3rd which was on top of the $450 million that was left on a prior one. just to show you how off side people can get in this. on may 16th. morgan stanley started a $400 price target. it still for analysts is either side of $500. >> i think that we are having problems with guy's feed again. we had these yesterday. >> we do it for emphasis. >> waiting with bated breath. we will try to straighten that out. >> i know you want to go to karen. first what are the two things that people wind up going with wealth? home value and stock. even for the high end i -- i would say the high end buy certify the one that steps back

first. he doesn't have to buy those things. discretion. >> and that's -- when rh warned, i think less than five or six years ago they talked about the declining stock market as being a reason why think are seeing demand soften. it's not unheard of this link between stock market wealth and the desire to buy home furniture. >> one other thing they said that i thought was interesting was they are seeding some market share of lower value and so that as they improve their quality. that's sort of interesting. i guess that lower value margin must be difficult now. i think it's the rights thing to do. it's probably not great for revenue. this is a difficult time for them. you are right about the -- you know the partner and i will be one of them who, you know, terrible returns for this quarter and thinking about do i really want do buy a really

expensive rh? it puts pressure on them to not -- they have had price increase after price increase after price increase and one of the things they have done is this huge expansion. of all -- restoration hardware, modern, restoration hardware. the jets. that seems maybe a little -- i don't know. not quite -- seems a bit tone deaf at the moment. >> what they were doing with prices during covid and they could do it. they could do it because people wanted them. they had that type of a demand. the consumer was willing to spend a lot of these companies. you see this as a couch that was $3,000, probably over priced then it went to 4,500 and you had to have it. you don't have to have it now f you ever had to have it then. and if you look at the stocks, you know williamson man which is also down 3.5% in the after hours and that's obviously a

march relevant comp than home depot. not expensive company. trading at prepandemic pe here. a company that certainly -- the school nesting thing is not going away overnight. the consumer not willing to pay ridiculous prices for thing that i think really relative to year ago that's where we are up. >> to give guidance. warnings like these make you less confident and any guidance, any company gives it's not just isolated at this point where a company reports earnings, gives guidance and comes out a couple three weeks later and changes it. now there are a number of ones across sectors. across -- in terms of who the customer is, to the end market is for their product. >> it's worthless. even though they are confused about the guidance they are giving, how can they tell you the guidance. >> what is -- there's no

baseline here. >> i thought there would be a window of opportunity where you start to see commodity prices come n we have the cpi maybe surprise at the downside. july 13th. maybe that navigates a little bit of a way up. it looks like we are sort of carving out a way to go down. >> this gets us back in. today's market was in a market on the surface didn't look to be that bad. if there was a fair amount of pain and if you look at the bottom market the ten year deal is telling you how it's diving. this is the recession trait. mega cap tech is defensive at this and they are certainly -- this is a day where the apples and the microsofts and amazon had a big day. masked some of the pain below the surface. that is the story of the stock market. we get into second quarter numbers. we haven't heard anything out of apple. in terms of a demand profile. what we are getting out of a restoration or what we have started to hear out of some of the other ceo's that have been coming in a couple weeks later that's what i want to hear out

of the biggest companies in the world that haven't done that yet. that is what we need to get through second quarter. it may becoming faster. >> when you put a technical on that level. the february 2020 high going down to the covid low. the halfway point is $175 for restoration hardware. you want to put an ultimate end of world sort of part 2, that is where have you to look at support. >> to tim's point in terms of the bond market. the yield curb is the spread is like four or five bits at this point. >> right. >> and then we had the 2,000, 1.2%. these are isolated data points, it's one day but right now the message. >> the -- we are headed to -- you know gross slow down. >> and watch 3% which is a really important level of support in terms of yields. bond prices are moving higher. some level this is kind of a relief to see equities and bonds. bonds are rallying because it's

the safe haven route and it's a safe haven rally. one key level. all that very clear over the last couple days. not breaking above that down trend. yields need to hold that up trend. if they don't it possibly is more pain for stocks. >> karen when you start thinking about something discretion and the pain. if we look at what some of the companies telling us. what are you worried about? >> cap is one. that's one that trades at a really cheap multiple. not only has that luxury multiple plan not work -- they traded half the muttibles they used to. that would be one. i'm curious to see how some of the ultimate high luxury. i'm curious it see how that

trades. then names like ulta. is it a small enough ticket item that they still wanted to go to -- the store. it's an event. and you buy something for not a ton of money. i feel like there is still rooms there. >> a big difference between a bureau and a lip stick in terms of price point. >> always fun for me to go try on make up. >> you had to listen. >> i don't want -- just the regular. it was very. >> well first of all, two thirds of the market, two thirds of stocks trade with the market. i would agree with karen. luxury will be a problem. i think that you have to worry about large tech still with a rising rate environment. >> our next guest said the fed strategy isn't just a policy

error but a ponzi scheme. dan morehead. great to have you with us. your letter was very interesting. i didn't know that the fed did not buy any bonds for what 95 years or so and then they went all in. walk us through why policy is now a ponzi scheme? >> we have -- the fed used to control the overnight rate and even that has been way behind where they should be. the policy rate used to be about a per sent and a quarter. they just got the overnight rate back to where it was before the pan dim i can. when the pandemic started inflation in the united states was 2.3 and it's now 8.3 in official terms and then just a problem with the way they

report housing, the true inflation rates in double digits now. that's that -- a policy mistake. completely separately is the manipula ting the housing market. they used to not invest and let insurance companying do all the lending in the economy. in 2020 they decided to get involved in the mortgage markets. they bought 6 trillion of government and mortgage bonds and -- the record year for issuing mortgages, to all americans was a quarter of that size. in two years they did 200% of all mortgage lending in the united states. there are some big consequences that we are just seeing now. >> feds credibility. i'm with you on this and -- we have been talking about a lot of different things. what's the most credible thing

you could do? you have jerome powell. he was a dyed in the wheel hawk guy who got pulled in a different direction. i'm not sure we defend that. what is the most credible move they could make to begin to build back? >> two things. they have to deal with the overnight rate and for a long time they said it was transitory or supply chain issues. i think that to build credibility they have to make it clear that it's not a couple of container ships off long beach harbor. it's a supply labor issue. we have twice as many job openings in america as we have people looking for a job. the unemployment claims in the united states hit an all time record low. only one out of a thousand filed for new unemployment claims which is the odds of getting hit by a coconut. they need to establish credibility on the short term side. really they have to stop manipulating. this very to let the free

market could do that. right now case -- housing index. above 20%. nationwide that's not just hot market. that's everywhere and the fed is -- loaning money in short term at 1.5%. even long term rates are very cheap. we have never had that much of a spread between the appreciation of housing at 20% and mortgages at 5 or 6%. that's double the previous wide and that thread. we had -- around 5% and then 70s and then about 7% just before the global financial crisis. obviously both of those ended up disasters. the feds really created a huge housing bubble and they kind of have to get out of it before that will correct. >> it's karen. let me follow you on that part. we know that they are going -- as part of qt mortgage backs will -- they will sell and how do you think that market will absorb that and if you follow

that flu what will happen to housing prices? >> yeah. they have really not sold any mortgages that just saying they won't replace all of these that mature. you know unfortunately i think they have to start unwinding the book and letting the free market establish the correct rate. housing has been a huge windfall for homeowners and in particular speculators. one of the biggest issues with this policy mistake is that it's not like everybody in american owns a home. 35% of americans don't own a home. they try to buy the home. they may want to expand into a larger home in their family. 20% of homes in the united states last year were sold to speculators with money they borrowed from the fed. it's not an advantage to most americans, you know. this is not a great policy. they have to get out of the

market. reduce their holdings. and let the free market find the right rate. obviously housing has -- it up 38% since they started this policy which is insane. that's never happened in our country before. it probably can't keep going up and at some point i think that housing has to come back off and it does seem likely a recession is coming. >> i mean we are grateful to get -- be able to get your macro take on things and the cyypto things. if we head down this path and you say recession is likely how are you positioning your portfolio? i would think with some of these strong views you have the macro trades on in addition to the cryppt position. one of our central view is that though obviously interest rates have to impact bonds math wise and almost have to impact stocks. then other things that real estate will be targets of the feds. there are some things like

crypto that should be unconnected from the interest rate market. although hasn't happened yet. it's in -- with risk as set. i can say a year when stocks and bonds are down. you know real estate is down. crypto is rallying trading on its own. very much like gold does or soft things like corn, soybeans. that's the -- the world that i think we will see. >> basically in six to 12 months or so or longer all of the asset classes are down but for crypto. >> could be including thing that are not -- any kind o fixedq quantity thing. the fundment ams are still positive. we have a huge bull market and a huge bear market. i have been through five of

them so far and -- we have been investing in crypto. it's not unprecedented. >> great to get your take. thank you for joining us. >> thank you. >> dan morhead. tim what do you think? >> again the garden variety draw down in crypto that someone like dan can speak to. he can speak with ice water in the veins and say i have seen this before. the dynamics of the unconnected and certainly the argument for crypto is everything that's going on with the federal reserve. i can agree on the principles. i think that some of the pain that's going on in the market the three hours liquidation and trading at a massive discount. these are dynamics of margin and people being off sides a little bit of liquid is a cancer in an environment like this. the stock market. i don't think we have the retail trader or the asset flows have -- and these are the kinds of thing that i think are early stages of that and i

think we have just gotten going. >> i agree with what most of what dan has said. recession is what -- the problem is that -- you are going to see the market which is a leading indication. -- the fed -- once they start raising rates, about eight months later on average they start cutting. that's going to be where the market leads. there is some light at the end of the tunnel. i don't know what a garden variety recession looks like. i think that there is more pain to the downside early term and then back half of the year we could see a rally. coming up fedex holding it's first investor day in over a deck and the new ceo eyeing growth. detail as head and a smart february celebration. the i-phone turns 15. how will apple outdo itself next? we are breaking it down when fast money returns. what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations,

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>> that was fedex ceo speaking to cnbc ahead of the company's first investor day in a decade. despite a double digit growth forecast the stock lost over 2.5% today. fedex ready to deliver on its aggressive goals. we are talking the first block of the show about giving forecasts for the rest of the years and how dangerous that is. tim brings up a good point as it relates to fedex. what would that be? >> the first analyst in over a decade. they will give you not just a quarter outlook for the next quarter -- maybe not even the end of 2002 but a 3 year eps guide. it'll grow between 14 and 19%. in 2025. that's great stuff but for the fact that nobody can tell us what is going on. this is about a company that's trying to establish credibility and hasn't been able to forecast their business in the past. i would rather hear cap extrends and -- for fedex i think those are more important. >> i think that part was it's not a get day for investors.

we will give them, okay, as tim said maybe it's great for them to have corporate planning out several years, it probably s that makes sense. this is a company that we talked about last week over promised and under deliver. last they seemed to put out very good guidance above the consent. the bottomst range is above consensus. low double digits. the floor is not high. why say we can jump over a bar that's not so much higher? i don't get it. this is the new ceo but not new to the company. establishing credibility. i think is super important. a three year strike just seems -- i don't know why they need to do it. i mean it'll be fantastic and cheap and they reach those numbers. >> i mean they had every reason to just say they will meet estimates. they like the stocks. most people have a buy rating or the equivalent do. give guidance that's above what the aists saw.

why bother doing that for just this year? >> hi guy. >> i'm sorry. i'm sorry everybody. that's a great question. this environment there's no reason. they had announced this so they have to do something. you know hidden in that operating margin of 10%, that sounds great but i would have rather them said we are trying to get express margins, express past their revenue which is currently about 8.2%. north of 10%. then we will build from there. that doesn't excite me that much. the blending operating margin right now is about 9.3%. for me that's my take away. i this i that's what disappointed the streak. with all that said ups just put a $315 price target on it for the reasons that everybody just stated. that has not been a great reason to own the stock. >> i think that they just throw out the guidance because nobody will call them out on it. if circumstances change f the environment changes. they could just rehash and pull

back their guidance. to guys point. it's rallied 6.5%. it's crushing pss on a relative basis. whatever they are saying incestors buying. if it's right or wrong it's white boarding it. >> up s and eating its lunch for the previous year. again because it's a more efficient company. >> a lot more to come. 15 years ago apple changed the world. as the i-phone hit big milestones what's next in the traders break down what the tech company still needs to do. ? if semi earnings on deck. (vo) some bonds last a lifetime. some bonds inspire confidence, and some you grow to rely on. these are the bonds worth investing in.

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apple celebrating 15 years of the i-phone today. that one product still the biggest revenue driver for the country. what will or should be the next one? for more on this let's bring in jean. great to have you with us. >> hi. >> one criticism if you want to call it that is that they need recurring revenue. not just services revenue but revenue that is recurring and i'm wondering how you think the company get there's if it needs to? >> they need to get there i think for the valuation to break out to new levels. if they get into new categories whether it's the head set we have talked a lot about. potentially something -- not saying they will get there but that will be something that would make it so they don't

have to do that. i want to more directly answer your question. is that i believe that apple wants to sell hardware as a service. they have been trying it out with the eye are i-phone upgrade program with some success. the concept of what we have seen our use, the need for more consumer driven tech support over the last couple years, i think opens the door for them to sell hardware as we referred to this as the 360. we have been talking about it for a couple of years now. i believe it's still on the docket. that means that you would pay apple a monthly fee like with some of their content. you can get arcade, news, you can get tv plus. imagine doing that for let's say $150 a month and then you get upgraded every couple years for the watch and computer. that would have a significant rerating and as far as the timing on that it's a function of time.

it's probably more three years out than one year. i believe that eventually this 360 bundle will come to life and will satisfy this nagging question around visibility. >> gene it's karen. that's really interesting model. what i want to switch to another one which is the car that you touched on which would seem to be just a huge capitol expense. not that you can't afford it, they can. what do you think of that? do you want them to do that? >> i would love it if they do it. i'm not going to say they are going to do it today but i can say what we saw at wwdc around them taking over the whole console and having 15 major oem's adopted i think is a testimony to the traction that the consumers have wanting to integrate their mobile experience into a driving experience. the -- question just quickly to address that is that it is a big number. they can afford t i think there is a shift in terms of how i think about it. i do believe that making a car,

an electric car is -- i think it's less complicated than would meet the eye. if they do it is stock will go vertal. they -- if they get 10% share that will effectively double their business. this is like the i-phone as to the i-pod. today they -- that product is done. 450million i-pods. they sold 2.3 billion today. that's -- 50 plus. i hope they do it. fingers crossed. it'll have to wait a few years to find out. >> there's a lot of concern i think going into their quarter which is a month from now. you can make a very compelling

case for apple on valuation. >> you need to be careful across all tech this is a $250 shot. it probably goes low america to the print. >> hope it's wrong but that's the bet and the reason. if give positive guidance you are tone deaf. apple gets that -- they give a form of guidance. we will play it carolinafully in terms of my outlook. that's trading f you think about investing. what they are doing with this 360 bundle we talked about. >> you know tonight we got rh

revising its guidance. are there any data point that get you concerned, maybe not just a single one but -- a combination? between microsoft fx warning or target. >> peace that maid me most concerned is work that cnbc did. 25 fortune 100cfo's i believe losely remembering this. this was recently and all of them said they are -- optimistic about the back half of the year. as far as -- specific to apple. we look at their lead time. they continue to improve. that's hard to say if it's a function of supply chain orrin creasing demand. ten of the 20 had negative

comments. tesla have said negative things about the environment. 12 of 20. i think that number is going to go up even without any specific -- it's simple psychology. i want to leave with where we have left before. i think all of this is going going to hurt but i think it sets up for resetting growth rates in 2022. >> thank you. gene munster. >> thank you. >> well yeah. i guess if there is a reset this year it's even better for 2023. that's optimistic. this is. >> as the market goes so will apple. a big part of the market and sentiment in the overall market. you have a better chance of ar, vr being what they are looking for as far as new products.

i'm looking for a host of things and nobody, no matter your income bracket is going without a phone. i will still be bullish on the name. >> i wish they would do a tv like a home operating center. that's my own personal wish, apple. >> say it again louder. never know. > >> it's -- what's interesting about the i-phone today and verses when it started they have the same process and their cheapest phone is their most expensive. they have it many shapes, colors, sizes we didn't think they would do. they seemed like they were stay away. the apple experience is part of -- the goal is to get part of everybody's life. the dynamic here in terms of services, great, hardware is a service, gene's point on that, critical. everybody expects to upgrade their phone every three or four years or maybe less. to have apple take a bite out

of them i think that will continue for as long as this company is more about, social, you know inclusion that i think is what's important. >> i see that you are depending on your product. >> my phone dropped the last two days maybe up for the upgrade cycle. i got people from the investment committee asking is it true that you are supposed to eat an anl a day? the laugh time i ate appalachian 8 may have been ten years ago. i think that a lot of people are worried about this quarter. i think that's market will rally into the apple quarter and they will disappoint. i think that announcement is going to take us to the next league low america the roader market. that's what i have been looking for and saying. the nitty gritty on bed, bath and carnival deep in the red. a debt check on the name.

what is a big warning sign for investors. first earnings on deck tomorrow. we are checking in on the options to see where trader -- how traders playing this one. we have the detail when is fast money returns.

hit hard with names like invidia hitting 52 week lows but they are betting on a big turn around tomorrow. tony has the action. tony. >> yeah. that's right. micron reports tomorrow and traded fairly actively today, just shy of two times the average daily volume and options investors suggesting a pretty sizable move here in about 7.6% on this earnings verses the last eight quarters of only 5.1%. as you said micron and semi conductors not doing well, under preforms and one specific trader seems to be betting on a turn around, buying 3,000 contracts of the july 1th

weekly option that expired this friday. $59 call strike paying $1.05 for those calls. that was above the asking price. this is the trader that's laying out more than $300,000 in premiums to bet, that is micron will be at least 7% higher by friday just to break even but you noad to see about a 10 to 12% move to see a reasonable profit on the specific trade. someone is betting on a pretty big turn around for micron. >> thank you for that. tony zang. be sure to tune in for the full show. friday. coming up is the devil in the details? bed, bath and carnival both sinking in today's session. one may be in more trouble than the other. the fine print is next. and a new bet from jim -- the growing competition coming for one grouofp stocks. more on that when fast money returns.

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zero in a worst case situation. are both names in dire straits? it's time for a fireman's fine print. >> i think that any time we have something as dramatic as this i look at the debt. bed, bath and beyond have you have to look at the debt. the three and three quarter notes due august 24st. those are coming up in two years. it's a little bit worse than when we made this graph. this senior unsecured debt is yielding 33%. you need cash to be able to get

your inventory for the holiday season. they have a little bit of time but this is really going in the wrong direction. if i look at something like bed, bath and beyond i think this is one -- that is absolutely in bankruptcy. they talked about costs going up. revenue going down. let's look at the debt here. we have these five and three quarter notes due march 2027. these are down a lot. rates have moved. bond prices move to interest rates. these are yielding 13.367. that's high but not remotely close to when you look ate bed, bath and beyond that's showing a real -- a real chance of the

whole balance sheet unraveling. carnival cruise has time as well. a few good things could happen. this is one that very different, very different. that is one that i don't -- to be fair they weren't saying that's the most likely case. that's the worst case. >> yeah. >> seven was the expected case. not nearly as bad. i don't own either of them. always look at the debt. they are much smarter than the eqity investors. >> guy. >> no question but now we are in an environment where you wonder if the meme group will get involved in names like this. the interest has to be growing in terms of carnival i think we are talking about levels. forget about the pandemic low. this is probably 15, 16 year lows in the names. i think what are you trying to do here, especially in the carnival crews which traded 2.5 times -- you trade it from the long side. worst case situation.

zero. the flip side you can get a 30% rally and have the problems they face. i think you trade from the long side here. >> alrit.l gh coming up, jim sounding the alarm on data center stocks. the reason for his call next, fast money is back in two.

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jim cheno said the cloud is coming for the legacy data center of bricks and mortar centers. when your biggest competition are three of the most vicious then you have a problem. he said they are hyper scalers. digital reality they will be looking to build their own and host their own. what's the trade here? are you on board with him? >> yeah. i think that the dynamic around value building in the companies that are actually in the space rather than the data centers themselves is the story. i think criminal is often harping about valuation shall he is excited and used the term.com era on steriods where we are now. i would just go back to -- like even for microsoft and for

google and for aws we talk about that pressure and margins have to come down. that actually has something is that we worried about for those companies. these smaller players no question. >> i loved the work. it's really fascinating. these big picture and gets more granular. if you are this industry and you see the terrible dynamics coming of big players and what do you do? you can cut price or merge and i think -- if i were -- i would be thinking about it. i don't know the synergy. you have to be thinking about the balance of power in any way you could. get bigger, get bigger. >> yeah. >> guy what do you think? >> when tim comes out with things like this. he would say it's probably watching right now. he is probably suggesting a week from now. he does extraordinarily thoughtful work and go back if you want proof positive.

last summer or last spring that he was talking about draft kings and how that seemed to be a house of cards. that's when the stock was north of 60 and look at it now. my only push back would be don't get short of stock if you are looking to piggy back f you are along this stock or these stocks i would take note ando d some work on your own. the work jim does speaks for itself. >> up next final trade. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™ (vo) some bonds last a lifetime. some bonds inspire confidence, and some you grow to rely on. these are the bonds worth investing in. for over 50 years,

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it's time for the final trade. >> one of the best companies, want to talk often enough about. look at mkc. >> could be energy space. there's been a big pull back but some of the utilities including energy transfer are yield machines and never had better balance sheets than they do here. take a look at that. one you that haven't heard me talk about on the long side is ali b abi. >> both.

>> when you have not heard me talk about recently. xpi is down 33% year to date. it is up basically 20% from june 16. i think there is a long runway for the stock with a lot of tailwind. >> we will see you back here tomorrow at 5:00. mad money with jim cramer starts right now. my mission is simple. to make you money. i am here to level the playing field for all investors. there's always a bull market in summer and i promise to help you find it. mad money starts now. hey, i am cramer. welcome ted madden money. i will try to make you so many. i don't just entertain but i also teach you. give me a call. it is messy out th