>> jeff? >> dollar tree. take advantage of the drop. >> ali baba. i'm looking for 10 to 20% upside here. >> thank you so much for watching fast money. see you back here tomorrow my mission is simple, to make you money. i am here to level the playing field for all investors. there is always a market and i promise to help you find it. mad money starts now. hey, i'm cramer. welcome to mad money. hi friends, i am helping you make some money. my guy put this whole thing in contest. call me at 1-800-743-cnbc or tweet me @jimcramer. ever since friday when powell

decided to ratchet up the rhetoric and the war on inflation, trillions of dollars of spending and congress has decided to authorize good motives but bad timing. maybe that is part of the reason why the dow floated 2 1/2 points and the s&p 500 declined. the nasdaq edging down , looking much uglier. i've got to tell you, it is the -- >> house of pain! >> out there. our overheated economy cannot handle such a big influx of cash. even members of the rainbow coalition have found things they like in the climate bill. everyone knows our tunnels and bridges need massive upgrades and we do after manufacturing. unfortunately all of this spending makes the job a lot more difficult.

he can't control congress. he can't authorize more immigration, which would solve the labor shortage. remember, it is a shortage of people that need to fill jobs. we don't have them. now i was hoping if the market got hit hard enough, we could have a december 2018 moment where powell stopped his aggressive rate hikes after realizing inflation was under control, but this is not 2018. sure, we are enjoying a major collapse in so many commodities. there is more availability for everything and the only real sticking point comes down to parts stuck in china or labor shortages that were hard to see coming. powell is making real progress, but he's got a long way to go. i keep hearing that powell is so far beyond the curve and it will throw us in a nasty recession in order to beat inflation. he has to raise interest rates 45% and they think it's all his

fault. if he acted earlier, maybe he wouldn't have to bring the pain right now. to me, that is a total false narrative. i think these guys are missing the point entirely. that is why tonight i want to walk you through j's secret playbook. i don't think anyone has it. you know where we need to see before he will stop tightening. maybe consider this to be kramer's version. that way it is maybe softer and nicer. hold your child's ears. this is too graphic. those who can handle the word lay offs should turn off their tv set. there are a lot of trigger words coming. first off, wage inflation. this will spread to the whole economy like wildfire. he wants to see an end to the job hopping. job hopping is the operative

term here. how does he do that? people will stop job hopping once they fear they won't be able to find a new job to hop to. in other words, he needs companies to lay off their workers or even go under to cool down the labor market. why don't we pick an example? pick one. anyone have one? hey, how about bed bath and beyond? take that one, please. bed bath has tens of thousands of employees and not enough cash to pay them or the suppliers about raises which will hurt the stock, so they are now selling stock at the market to raise cash. stock, by the way, they brought back with much higher prices. isn't capitalism grand? there are legions of ill advised investors, phreaks or apes, as they call themselves, and they will keep buying the stock because they don't know anything and bed bath is selling the stock. that is all

they really care about. that is the only thing bringing this up. i enjoy the battle, even though most probably don't know how to read a balance sheet. ignorance is bliss. don't you love it? he needs bed bath to fail. no more selling stocks. no more propping things up. in fact, he wants pretty much anyone with a real tell job to be worried. he needs he access merchandise to flood the zone and hurt the rest of the industry. powell can't be this direct though. when he walks through the shopping mall, he wants to see not help wanted signs, but for rent signs! you know, the paper that they put in the mall when the store goes under? i mean, i am a 40 regular.

boy, that would end this. we should have him stroll through it. now as the son of a mother who sold lingerie on the seventh floor and a father who sold a form of pants, i know how fragile these retail stores can be. you could get a real domino effect if one of these stores goes under. same thing with restaurants. powell needs to shrink the sin . i don't know. i can't think of a restaurant that is as big as bed bath and beyond. that said, there is nothing like one of these vacant bed bath locations to bring down the whole strip mall. it's the easiest way for powell to beat inflation. even if bed bath and beyond is in business for longer than it deserves. the second thing to end inflation, even though he will never admit to it out loud, he needs a collapse, for heaven

sakes. i understand the by now, pay later places. or the by now, don't pay thing. that is so funny. talk about two birds with one stone. by the way, i have a lot of people selling. anyway, the by now, pay later companies think they have the ability to lend with impunity and powell needs that impunity to go away. it could take a scandal before this happens. the reverberations would be enormous and unfortunately positive. these pseudo-banks are a thorn in the side of the fed. hey, while we're at it, i'm sure powell would love to see an end to the creation of cryptocurrency, like the ones i just mentioned. they are often paired with pump and dump schemes. they embody the kind of reckless

telltale sign of an overheated economy. financial thuggery must end. this is a no thuggery zone. third, let's face it. powell needs non-venture capitol firms to go belly up . the former is already happening but they are pumping these things out and somehow this morning at the nasdaq, i thought about this immediately. we have had an endless job in silicon valley to run out of funding entirely. that would be tailor-made. tailor-made! better with the hand. that is a jersey thing. fourth, powell needs to have shares running out of money. expensive trinkets from 140 foot yachts with 5 bedrooms to five million-dollar homes. nothing like expensive stuff that you can't sell to stir the

pot of panic from everyone else. you have been worried about the cost of rent once those dominoes fall. you will see the banks pulling their horns and you won't be all that worried about lower growth. finally powell is waiting for the country to kick in. back when we had the shortage all over the place, companies doubled goods to ensure they had enough supply. automakers are still scrambling for chips, but potential car buyers will be too scared to buy or lease and the price of the car lot goes down and the price of the used car goes down and next thing you know, inflation subsides. i got a call the other day from someone asking why the stocks were doing better. it is actually an awful business. that is what we stopped manufacturing chips in this country. i think you will find out real soon when demand starts falling off why they keep bumping out

new chips. here is the bottom line. we are now in good news is bad news mode. the feds will not stop bringing the pain until we see real deterioration. this is my checklist of the economy. it is a very different landscape from the mall to the store to the house and the car lot. it has all got to change and as the late, great sam cooke and short us, change is going to come. joe in new jersey? >> hello, mr. cramer. thank you for taking my call. i sold a canada goose back in january on your recommendation and took some nice profits. it is trading at around the mid $18 level a share. can i buy it back at this level heading into the fall? >> no. no, not at all. not even a chance. actually, i don't want anyone

buying anything that has to do with clothes unless you're putting it on yourself. that is my role right here, right now. if you're buying clothes, make sure you can wear them. do i have time for another question? that's it? we are now in a good news is bad news mode because the fed will not stop bringing the pain until we see real deterioration in the economy. a change is going to come. mad money tonight. call in and stop me. i have become a big believer in the rise of the liquefied natural gas exports. what is the best way to play this and make money right now? i will give you some names to watch. and falling after fantastic earnings, but is the move justified? i will get the latest from the company. stay with cramer .

>> don't miss a second of mad money. follow @jimcramer on twitter. have a question? tweet cramer . send an emailed to madmoney@cnbc.com or give us a call at 1-800-743-cnbc . miss something? head to madmoney.cnbc.com .

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hey, what does this button do? no, don't! welcome to the fastest internet on the largest gig speed network. are you crying uncle ed? no! a little. only from xfinity. unbeatable internet made to do anything so you can do anything. every now and then, i get a call about something i don't know or haven't paid close enough attention to and i always promised to take a closer look and come back with a better opinion. given that these are the dog days of summer, i think it's the perfect time to catch up on homework. tonight i've got one that could be real educational, one that a lot of people that i know know. heating, ventilation, and other

equipment. basal refrigerators, ductwork, air quality products. if you are bored, follow me on twitter. you will get a little excited because i want you to understand this company. it's interesting. watsco has a lot going for it. it reminds me of a ferguson. watsco does the same thing for hvac equipment. this is the classic case of a good house in an increasingly bad neighborhood. right now the angry federal reserve is in the process of aggressively raising rates in order to stamp out inflation. when the fed is tightening like this, the last thing they want to do is have exposure to housing because it means mortgage rates are heading higher, which they have been. the real estate market will rollover, which it hasn't yet, but it will. the same is true for commercial real estate. no matter what watsco has

going for it, you're taking your life in your hands if you bet on something housing related. every textbook i've read since i started, and i've been at this for a long time, says everything comes down to tech. that is just the way the game is played. i wish it weren't. the other environment i would be happy to represent, i think it's pretty compelling. watsco is the number one player , and we like that in a highly fragmented industry. they are the top by a top margin. they have negotiated better prices from suppliers and this makes it easier for them to get their hands on product, something that has been important over the last few years. the other benefit, they've got an enormous base. they've already sold tons of hvac equipment. roughly 115 million units across north america. when i read this, i question whether that could even be true and it is. 115 million units. those units need to be

maintained when they break down. contractors are likely to go to watsco for replacement parts. they have a great relationship with 60% of the total sales. think of this as a carrier dealership. a few years ago, everyone was worried about a fed mandated housing flow down. a big winner from the new climate legislation somehow is not in the inflation reduction plan. again, and another point of business, watsco , you can see it in their stocks. let's zoom out and look at this chart over the last 20 years. it is a thing of beauty. it doesn't help that they have 3.2% yield and it looks relatively expensive here. 19 -- let's put it this way. wouldn't it have been better right here? that is the problem.

much lower than up there. i'd like to pay 14, 15 times for this. timing is everything and the timing for watsco , it's difficult right now. like i said, best house, bad neighborhood. watsco gets 85% of sales from the real estate market . 10 to 15% is from new construction, which is okay. used homes are selling. the rest comes from repair work. while watsco will absolutely take a hit, it is not like the whole business will collapse. most of the money comes from maintenance or hvac equipment from new homes. 10% is still too much for me. plus, you are less likely to replace your heater or air conditioner when the home prices keep rising. even if it is viewed as a capital, not a repair business. you always want to figure out if something is capital, meaning you're trying to improve something, or rather it is something that is actually

going to be a loss, or an expense, so to speak. look, after a nice run, watsco reported its most. $50 million weaker than expected and they only earned 509. not good. you could argue these were good numbers on an absolute basis. 15% revenue growth raising 33% year over year. new record. this is not a business that is struggling. maybe they just got ahead of themselves. the problem though, watsco gave us real comments about the future. listen to this. and i am quoting. due to recent changes in monetary policy to curb inflation and the consequential slowdown of the economy, the company believes north american hvac and others that have benefited performance will moderate toward more historical levels. end quote.

moderate is one of the verbs i taught you about. it can be good or bad depending on the context. you want to moderator alcohol consumption? good! really, the last thing you want to hear coming out of watsco, look, if you have a 10 year horizon and you are looking for a long-term winner, you do have my blessing to gradually buy this one on the way down. emphasis please on gradually. if you care about the widescale building companies, it's off scale limits right now. even if they have new construction, these stocks trade and most love collective punishment. i wouldn't do it with watsco. if a company were posting blowout results , it might be worth it. i don't think it is worth the risk. i mean, maybe they're setting you up for an under promise and

over deliver, but i think it's too risky. here is the bottom line. as long as they are on the warpath, as i've said over and over again, it will be tough for watsco . in june, wall street embraced the peak inflation. it is now 272. the fed told us they will bring the pain regardless, which means watsco may have to revisit. if you want to take a swing, hopped up and let's just say that is the level. that is the level. mad money is back after the break. coming up, updated fuel for thought. cramer takes on the cohort next.

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sometimes we have to take

notice, take stock, figure out what we do in a tough environment like this one where whole sectors are becoming off limits because you can't afford to fight the fed. i mean, this is a moment you want to step back and look at the day to day ups and downs. focus on secular themes that cannot be destroyed by the fed. these are big stories that will unfold over the course of weeks, months, but years, decades even. stories that won't be impacted by the day. stop worrying about bed bath and beyond and start worrying about the economy to give you long-term wins. for example, i am a huge believer in liquefied assets to the united states, especially in europe where energy prices are insane thanks to the price of fossil fuels. we have been following this story for ages. every day russia continues to

wreak havoc in ukraine and it disrupts the natural gas supplies. this sector becomes a bigger deal and can make even more money. although it takes a long time for these liquefied natural assets, if you try to get approval now, it is seven years before you will see any result . the opportunity is incredibl . right now the price of gas in europe is double from year to date. it is up five fold from last summer. selling it over there can make you a fortune, especially with russia cracking down exports to punish the rest of europe for supporting ukraine. now i know you like these. i've heard you. let me highlight five stocks that i like for the long haul. not today, not tomorrow, but for the long haul because you are finally getting a chance to buy them right now because the market is so hateful and horrible.

let's start with energy. they are the pioneer. their first facility went operational and the company has grown rapidly. they have facilities in louisiana and texas. in fact, they account for 11% of global liquefied natural ga . 70% of their cargo is headed for europe. you can argue they're doing more to fight russian aggressive than any defense contractor. you can say it is doing more than the united states government frankly because russia's best weapon is their ability to hold the west hostage. energy hostage! cheniere is an energy thanks to the energy shortage. cheniere had $16 billion in revenue last year. the bulk of that coming from higher prices. that is on track to make a

dollars and $.62 per share this year. that is expecting to grow to $16 in 2023. i remember when they founded the company, they talked numbers that were a fraction of that and i had to say no way. well, he was right. stocks are up year to date. this is pretty darn cheap. some of that is because this is temporary and the analysts expect this to pull back to $12 in the following years. it is still fairly cheap on that too here. these estimates turned out to be too low. pretty lively, given how it europe is so low on energy. they would rather buy from cheniere standby from putin. plus, these guys keep adding more capacity so even when prices come down, they will be able to offset that. all right, remember cheniere was the great child who was asked in late 2019 right before the business

got rolling. this is still in the extremely early stage right now. it is not expected to begin shipping natural gas until 2026 this is completely speculative and they will probably have to do more than one round of fundraising in 2026 to keep everything on track. every day the russian invasion of ukraine continues and there is a thread about where the energy will come from. that is part of tellurian's vision. last time in april it was a $6.00 stock. it is enticing. why don't you call this a call option on the entire industry? next, it is as steady as she goes. this is a company i've really come to like. this is december energy. these

guys have one operational export facility in louisiana and their working in baja, california. they've got a big natural gas pipeline business that connects our business with mexico. last month, there were worries that the mexican president wouldn't nationalize the industry but we spoke to him right here and he said they have a very good relationship. stocks have jumped 8%. we've got sempra in the bullpen . look, you can join our club, the cnbc investing club, and we will tell you in our bulletins and we will tell you to pull back and buy this one. accelerated energy, very exciting play. liquefied natural gas is actually cheap. it is the rare recent ipo i can get by. they own a fleet of ships that work as import facilities.

if you want to start importing this stuff, it is the cheapest and fastest way to do it. of course, you can store it too. in recent weeks, they have been clobbered. possibly because european regulators are talking about imposing price controls on natural gas. still, they started making deals with european companies. even before that, they had 223% revenue growth second quarter. i want you to think about that. the more speculative people, ee. finally, age doesn't matter. it is not age-specific. is the canadian pipeline place and natural line of utility. i've liked them for ages in large part because they give you a 6.3%. this company is basically a tollroad operator for energy. just over a month ago, they

announced a partnership with pacific energy to build a terminal in british columbia. plus, there is a great deal of gas that goes to export terminals. the rise of this subsector is perfect for their business. my take a long time to kick in, but enbridge is paying the 6.3% yield. bottom line, when the market gets challenging, use these moments of weakness in said destructible stocks. you don't want the fed destroying your stocks. powerful, long-term seems, like the rise of lng. this will be one of the best stories of the next decade, regardless of what the fed is doing right now or would putin is doing, for that matter. gabe in michigan? >> hey, jim. i appreciate all you do for us at home and congratulations on your new home there in new york. >> oh, don't you love it?

it is so nice. i love the blues and the reds. i need one that is thinner because this makes me look heavier. hey, i had to point it out. go ahead. >> my scenario, early 2020, bottom number of shares and my diversified portfolio that you so well taught me. so, is it time to hold or renew register on energy? >> well, we did just sell some. the reason we sold some is simple. hogs get slaughtered. otherwise i think it's great. we want to be able to buy some of the comes back. all right, use these moments of weakness to build exposure to long-term seems. by the way, devon had much more money. after earnings as a cyber security company? how about what it takes to protect yourself? let's check in with the co. and what happened to this safe

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we have another big a quarter from the cybersecurity company, but no one cared. stocks dropped 5.5%. what went wrong? honestly, nothing. they provided much better than expected guidance for the current quarter, even raising before your forecast rather dramatically.

their free cash flow missed by $2 million. i like the free cash flow number. the real number is much more straightforward. crowdstrike is a great company, but they have an expensive stock . even if it's great, could cybersecurity finally be going out of style? i don't think so. still, i think it is worth staying close to this story, so let's check in with a cofounder and ceo of crowdstrike . welcome to mad money. >> great to be here. >> i was looking at the stock price and when i interview a guest i respect, i listen to the call and make my own judgment. i think your stock will be up 10, 15 bucks. you got more and more customers doing more and more business. when you think about what happened, and i know you love your team, but were you kind of

shocked that the stock was actually down? >> well, in today's market, you know, you really can't tell. obviously it was a flawless quarter. if you look at the growth, it is amazing. $2 billion of revenue. we believe that is the second fastest company to reach that milestone and overall, we've got customers delighted with the product so it's hard for us to get distracted on a quarter by quarter basis and where the stock price goes. in the long-term, we have a great opportunity to continue to consolidate in this market. >> george, i thought they would've already had a big strategy. they are still debating it. new york state -- i live in new york state and i was shocked. they didn't see that much strategy at all! >> well, they are a great

customer. when you look at the ability to consolidate in state and local government as well as the federal government, it does represent an opportunity and it is such an important topic in making sure we keep our country and our states secure as well. these organizations are turning to crowdstrike because we are focused on stopping breaches and reducing the overall cost, which is incredibly important. >> speaking of cost, we hear endlessly that the best are too expensive these days. how are you getting your people? where are they coming from? >> well, we had a great hiring quarter. we continue to enter hiring plans, which is important. as you see other companies struggle and going through layoffs, we think it's an opportunity to add to our great crowdstrike team. this company will focus on people and our customers and delivering great value. we continue to win awards across

various organizations for our people and culture and i think the fact that we are mission focused is important in times like this. our focus is providing the best outcome from a security perspective and i think that is what gets them up and excited about crowdstrike. obviously we are growing fast. >> when we first started the interview, you had something like 17 straight quarters where you beat the numbers. it does seem that this identity protection business -- look, you could partner but it looks like you're doing it yourself pretty well. >> well, you have to look at what we do versus other companies. they are focused on a single sign-on piece and we are focused on protecting the identity of the end points and the workload. a lot of times you see someone making access to an environment and it's

almost like going into the house and they can roam around the room. we protect those rooms and we make sure they are who they say they are. 80% of the breaches you hear about are actually identity based. our solution is unique in the marketplace. it is easy to deploy and it is one of the fastest-growing modules. we see this as a key pillar in the module strategy and protecting our customers. >> we all think about businesses that are supposed to be recession resistant, or recession proof. i have to tell you, when i listened to you speak last night -- i will throw powell out because you shenault i like those guys. really, there are businesses that have nothing to do with the economy and everything to do with the survival of a business, but that is about it. you work in an area where i think if the economy were to go down even 4%, it wouldn't matter.

>> jim, you heard me say this time and time again. it is the number one risk, cyber . it is super important not only to protect the business. it is a topic called business resiliency. it is more than having a computer infected. it is talking about systemic risk of a business going down if they cannot operate with ransomware. the other thing to point out too, there are so many regulations and guidelines from the state, local, and federal governments not only in the u.s. but around the globe are putting out. you need to be in compliance with these. this is not an optional spend. you need to do it to keep the enterprise secure and to be in compliance with a lot of regulations in the marketplace today. >> i want to congratulate you. when you listen to this quarter, you would say, do you know what? even if it doesn't pass today's

test, it's good to be down 10. this is george kurtz . george, it's great to have you on the show again. all right, mad money is back after the break. coming up, cramer takes your calls and the sky is the limit. it is a fast money lightning round next.

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lightning round is sponsored by td ameritrade. >> it is time for the lightning round. are you ready?

oh, let's start with brandon in massachusetts. brandon? >> boo yah, jim! jim, what are you looking forward to with canoe? >> up profits. that would go a long way. if i saw profits, i would so go with eagle instead of ev. tom in missouri? >> tom, thanks for taking my call. i am a big fan of the show. hey, listen, my question, i know you like devon a lot, but my question is about the old patch. >> oh, i think it's got a lot of natural gas. i can't believe the management has stuck it out. good for them. let's go to dan and pennsylvania. what's up? >> with the declining price of

commodities, is it a goodbye? >> that stock is a roller coaster. i mean, this isn't like whatever , six flags! let's get real. elliott in new york? >> hey, jim. it's elliott. >> what's going on? >> you know, the executive founder and former ceo, he recently bundled form four and sold 5.2 million shares. he remains with 1 million shares worth $72 million. is it similar for x po? >> i don't like that. that is a lot of money. the money is good. i have been looking at my team and the money is good, but you have a stock that is added slow.

i think the business will roll out. no one wants to be criticized for anything. i let my wife criticize me earlier about a reservation. i didn't like it. i'm sorry, brad. no one likes to be criticized, but i think that is a shame. i don't like that. i'm sorry that i don't like it. you know, i'm not about that. i'm not. let's go to nikki in massachusetts. >> hi, jim. i am a longtime listener and second time call her. >> yes! >> i question is cvs. do i buy? >> i went to cvs to get my shots . i think everyone should go to

cvs. i think that is a by. how about we go to howard in arizona? >> cramer, i've been a listener since day one of mad money . i just wanted you to know that. >> thank you! >> this company captures and converts methane into biofuel. the company? >> it takes too long to get to, but it turns out they are from pennsylvania and it's a winner. i agree. i like it. that is it for the lightning round! >> lightning round sponsored by td ameritrade. coming up, is recession proof a thing of the past? cramer hunts for good news in the tech space. check the markets?

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they are coming for the tech refuge, the sanctuaries and it is just plain ugly out there. >> the house of pain! >> we thought some segments of tech were more or less recession proof, or at least resistant. we believed cell phones would always have customers. who

doesn't need a new phone every year? i get a new one every two, three years, so you think there is always a market but china went in on it zero covid policy which crushed demand for new phones. the biggest cell phone market takes one on the chin. i'm talking companies like sky works. we talk about it all the time at the club. i mean, this is a great company bob remember, it doesn't matter. that was the end of cell phones as a sanctuary. then there is the computer. these are unheard of levels because people needed a better pc. now everyone has got one. you don't need another one anytime soon. in fact, we are seeing a slashing of demand from the enterprise market. remember video games?

we played them like crazy until the vaccines took hold. now people feel safe going out and doing things once again. personal computers, gaming, formerly recession proof subgroups all blaring. next, they came for the digitizers. you have to embrace the cloud or die because everyone is doing it. the environment suddenly grew tougher and now we are hearing that the digitization will not be as fast as we thought. sales were becoming elongated. stocks have been crushed for adobe. the underlying companies have decent growth and there are great businesses that are profitable. now we are beginning to hear

about the data center armor. i listened to the chip maker last week. there is a big data center component. they don't have much to say but they missed a small number. i think it was a supply problem, not demand. didn't matter. they dropped a bomb. it didn't matter that amazon web services are set and doing well. the slowdown of suppliers to the cloud prevented the virus themselves. >> the house of pain! >> then today, cybersecurity. holy cow. as you heard earlier, crowdstrike , we had them on. george kurtz . honestly, i thought it was fantastic. he had nothing bad to say whatsoever except about the possible slowing of the economy.

everything else was fantastic. just like palo alto. didn't matter. too late. down 10 points. with that, we have burned through every sanctuary in tact. that is the bad news. the good news, if anything positive occurs at all, you will get a nice pass. sure enough, we heard from the social media play who said the recent trends were looking up. internet stocks caught fire and fire can spread. one more piece of good news? well, who knows. meta-platforms wish they could change their name back to facebook. that actually rallie . i also heard that you got to be patient. these tech products always end one sector at a time. they all roll over. when are they done? when there are no refuges, no sanctuaries,

which is exactly where we are now and that is usually where the buying begins. just be careful to buy them slowly on the way down and have the maximum be oversold. i promise i will find the market for you here on mad money. the picture that tells the justice department's story of what it found at mar-a-lago. i am shepard smith, this is the news on cnbc. 100 documents with classified markings in 13 boxes. why the justice department contends there is evidence that records were concealed and removed. what it means for former president trump. policing columbus release video of a third officer involved shooting in eight days.