microsoft. >> mike you're catching a lot of heat. >> uup short dollar. >> there it is that does it for us here on "options action. we'll be back next friday at 5:30 p.m. eastern. do not go anywhere "mad money with jim cramer" start 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 "mad money. welcome to cramerica other people want to make friends, i'm just trying to make you some money my job is not just to entertain but educate and put days like today in context call me 1800-743-cnbc. tweet me @jimcramer. four weeks a year we're tortured

by a group that insists on reporting earnings at the exact same time. it leads to total confusion. so endless dow and worst of all, makes my darn life miserable if i run any of these companies, first thing i do is switch data where investors have the time to be more roigorous. you get a ton of days much more intense than they need to be sometimes it works out, though today we got excellent action with the dow soaring 749 points and s&p surging 2.73% and the nasdaq gaining 2.13% this was the session where the bears got absolutely gored by the rare bond market bears that decided to rob the 75 point basis hike might be the last one of the size. it's possible because the fed might not want to be perceived to swing the midterms.

however, this story has the half life of a may fly and i doubt it will hold up today shows you what the market can look at. you look at the prices and say oh, that's what it looks like. i don't think the done tightening stories are done any time soon but nice to have a road match what does lie ahead. and there's a lot going on i got to move over here. monday starts off with the company under fire just being a post pandemic play in a post pandemic world a pan demic world. i read a lot of noegative comments about logitech. the p.c. market is gutted and glutted. this means it could go lower the p.c. business is awful

tuesday, well, that's the real on slot. we heard from halliburton and number two oil service firm and today schlumberger reported a fantastic quarter to lead the stocks and pin action, holy cow. extended right through cramer fav and travel trust company halliburton. i bet it's got room to run, much more we got results from a company thanks to guilt by association united parcel. remember not too long ago fedex reported a short fall and the rest of the transports are awful. i expect more from ups pepsi co was a starter and we can see the same thing, maybe better there is so much to like from the ceo james quincy is pushing. general motors reports and i fear that like ford, they'll have to contend with higher costs and lower sales and then general electric and 3 m i hope they can explain the weaknesses behind the stocks i didn't just fall off the

ststoc truck. in the morning we get results from the high tech defense contractor, lockheed martin delivered a high number and i beth ra raytheon does the same thing. it's very much a buy after the close tuesday, outfit reports and i'm expecting a good set of numbers thanks to the strength of youtube. this stock got dinged on snaps before rallying late in the day and finishing positive but the funny thing is, i believe alphabet is taking share from snap because google search gives advertisers the right eyeballs and snap is really in the end messaging site for children. the big venture capitalists decided it needed to be more and microsoft has more or less preannounced the p.c. related illness but hasn't disclosed anything about the enterprise. i think the stock works when we hear exactly how well the

enterprise part of the business is doing chipotle reports, too. now, i bet they have no trouble beating the s&p because the trade has so much going for it best food. we didn't order from it today. what's that about? great technology and a work force that doesn't turnover much staffing and training are very easy and more important, less expensive than most quick serve outfits. what a terrific story. how about end phase? solar, remember, this was the number one theme of the third quarter. so many people loved this stock. it's been fabulous my guess is it stays this way. i'm a tad worried about visa why? there is a lot of traveling and should help visa but i hear the fee structure may be unrefined like american express today that butchers a good quarter. my advice, let's wait and see. visa has too many complications. wednesday, oh, fallen angle boeing reports so will this be the quarter they finally tell us good things? i hope so. but hope is not part of the

equation on the other end of the spectrum, i enjoy bristol myers because they announce good things on the call after the close wednesday, we hear from the meta platform. by the way, i'm the only believer in the stock. i think mark zuckerberg doesn't care for it as much as i do. facebook -- he's the founder, ceo. i think facebook and instagram will show growth and what's app, the metaverse itself i accept that. how about ford, another travel trust name can he go back to the 20s? that's going to be hard. ford has the cars and trucks people wantment, just doesn't h enough service now announces the quarter and we have to remember that this amazing software company missed on one small line this time yet the unforgiving market obliterated stock thursday morning we hear from two greaterpillar and industrial

honeywell travel trust name is great and climate control systems. i like both of these ahead of the quarters next, someone downgraded mcdonald's the dollar is too strong but micky d's is master at making money. after the close we hear from two real controversial stocks, apple and amazon we own both for the travel trust. there are so many stories written how apple is doing poorly unless it implodes. i doubt there will be that much downside own apple, don't trade it. amazon isn't doing that well on prime days but the apbrilliant broadcast of nfl games is working for them the people that worked there told us business is terrific and they are selling better than snaps. i like amazon very much. also, after the close we get results from t-mobile.

todayerer ee everizon reported numbers. i think t-mobile is still doing better than everybody else friday is oil day. always is. both chevron and exxon report. they will be terrific for the first time and as i constantly tell investing club members, the oil industry is brimming with cash, which is why we own so many for the trust business is begin to print whatever numbers they want colgate reports, too this is very interesting it's attracted the interest of day in low, the well-known activist ennumber i always wondered if colgate would make the division bigger let me give you the bottom line. it's a long time since we come into the heaviest week of earning season this hot. that makes for a tougher setup but so many companies have battened down the hatchet so to speak and prepped for a recession. if we don't get a severe slowdown, they will indeed keep

at it. mike from my home state of new jersey, mike >> caller: hi, jim, thanks for having me on. >> good to have you on what's up? >> caller: love the show long-time reader of the book thanks for everything you're doing? >> thank you, thank you. >> caller: thank you, sir. jim, with recession looming, i'm looking at the affordable restaurant and fast food chains. seeing which ones are app appetizing i want your thoughts on buying wen, wendy's. >> it's no longer my favorite. i think it's doing okay. it's reported a couple of good quarters it's a little more expensive i'm saying let's go with chipotle they report next week and i like the number very much it got a big dollar amount that's paid by ten slhares instead of 100 let go to ruben in illinois, ruben? >> caller: hey, jim, big boo-yah from chicago. >> hey, see ya soon. i'm going to bennys tomorrow

doing a couple bottle signings it's actually my wife's but drop by bennys and we'll have a great time i intend to see you there, please what's up? >> caller: let's go. i want to pick your head about an awesome financial services firm they do turn up and do turn capital. net interest revenue increasing the last quarter 44% to 2.9 billion. they just had earnings this monday and i don't understand why the stock isn't moving can you talk to me about charles schwab >> all right now schwab, people believe this particular part of the stock market is too competitive. oh, i disagree i think schwab is a good stock i like morgan stanley more with a similar model but schwab is a darn good company. so many -- i wish i would. i like them. so many companies battened down the hatches and prepared for

recession. something we all should be doing. if we don't get a severe slowdown they'll keep flying. could this be the beginning of a longer term trend. i'll find this travel trust story and american express fell after earnings but is the panic warranted? i'll give you my take and with the market continuing the volatile action, it's time to play am i diversified? see if we can handle whatever the market throws at you so i want you to stay with cramer >> announcer: don't miss a second with cramer have a question, tweet cramer #mad tweets send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

our internet isn't ideal. my dad made the brillant move to get us t-mobile home internet. -which... we have to share our signal with the entire neighborhood. yeah, now we do some weird things to get our speeds. well... i'm up. -c'mon kids. this sucks. well if you just switch maybe you don't have to be vampires. whoa... -okay, yikes. oh sorry, i wasn't thinking. we, uh, don't really use the v word. that's kind of insensitive. we prefer pro-lunar. yes, much better.

at this point in earnings' season, when the quarterly reports are coming fast and furious, it's impossible for the market to get everything right this period is so chaotic money managers are constantly making mistakes trying to evaluate the mistakes from dozens of companies at once. everyone is jumping the gun, which is not conducive to good decision making so i like to circle back to the earnings reports i think the market got wrong because you can find terrific opportunities like combing through the reject pile looking for stocks unfairly punished i'll give you one that's unfairly punished. take danaher the big life sciences and medical technology that we own for our charitable trust we like it so much that it is

our third largest position weighing in at 4.7% of the portfolio. i've been recommending danaher for ages because it's a tremendous long-term story and a stock that require asts a ton of hand holding there is a lot of noise here as the world goes back to post pandemic it's frequently misunderstood. they recorded a sizable earnings beat huge while management raised parts of the full year forecast sounds fantastic, right? yet, the stock actually plunged more than 5%, plunged. i mean, this was insane. this is the definition of insanity right here. they plunged because wall street didn't understand it someone said they didn't like it i said they didn't understand it i think the market's negative was a total mistake, huge one. i'm not just saying that because of the travel trust but i've done the homework and when you

look under the hood, that doesn't make any sense if anything, you should treat the pull back as the essence of a buying opportunity you had to read the conference call and know the company and know the history of the company to know they're straight shooters and this shouldn't have happened and you got a buying opportunity. so what happened to cause dan heard to sell a great quarter? you need to understand the context. in a fed mandated slowdown, danher is the stock you want to own. selling all kinds of big ticket items you need to research with drugs and vaccines to grow in the drug business you need danaher. big but here, danaher is perceived as a covid winner. you know what happens to those they are hated sot stock lost 25% of the value this year to date in retrospect we started buying too much in the '70s, '80s, and

'90s but there are a lot of skeptics that don't believe danaher can continue to make the money as covid businesses wind down yesterday morning there is a magnificent top and bottom line beat the revenue came up higher 10% year over year and delivered a 30 cents earnings beat all told they had 10% organic growth the strength across all three core businesses, life sciences, dia diagnostics and applied sicience they got a good margin boost people didn't think that was fair how else can you do it they gave you a good forecast. why in the world did the stock get hit? we think danaher got sold off because of the bio processing market one of the german markets said

the business was slowing with high inventory levels. in other words, customers stocked up on these supplies and they're now ordering last or maybe even cancelling double ordinaries a lot of industrindustries is it happening in this one? i'm not worried about that because in the conference call, they made it clear while the clients are moving away from covid related products and anyone that studied knew this wasn't the first time but the tenth time they said it but the clients are refocussing spending on the much larger non-covid related space where their bio processing grew at a 20% clip. keep this number in mind, 20%. we don't have a lot of companies that give you that kind of number for the excess inventory that everyone is fredding about, danhard danaher expects an inventory slowdown if there is a problem, it's a short term one the company talked about working more closely with customers to

get a better understanding and reducing risk of the stock i don't think it made sense to dump it all off these worries about a single business line when you drill down the life science division is on fire and pharma and biotech is investing more aggressively on everything not related to covid life science instruments are on fire on the diagnostic side, danaher gave you a dynamic beat as the western hemisphere braces itself for a rough cold and flu season. the smallest part of the business, environmental and applied solutions, water quality, testing, product identification is doing fine also danaher plans to separate the division perhaps as a spinoff to focus on human health and the split off does environmental remember, danaher has been spinning off the business for years and almost always gets a

boost afterwards that surprised me nobody is thinking it's not going to happen this time. that's the beginning of the surprise for example, in 2016, they spun off the industrial business and then a few months later used the proceeds to buy a molecular diagnostic company terrific run if you listen to the calls, you'll know that it's definitely here by the way, if anybody sees that clear versus head and shoulders pad. in the end, danaher has serious issues and think covid pcr test and lockdown in china but doing well and pockets of excess inventory in europe. you know what? they didn't lower the full year forecast in fact, they reiterated the growth guidance so these problems are serious, why didn't they cut the forecast? they're straight shooters. they've been around a long time. they have a huge cash flow and buying other businesses, nobody has a better track record.

in the end, if you're worried about a slowing economy like so many are, how can you not want to be levered towards the picks and shovels company for the recession resisted health care industry that so desperately needs to develop new drugs to keep the pipelines full this is a company essential for everything from individualized vaccines, which we know the moderna is working on to cancer treatment, pretty much every firm is doing that to life sciencesose are all secular groh stories. nobody is cutting equipment with recession. the bottom line, amazing company you're getting an unbelievable buying company were we too early? absolutely we were too early here we're not. thanks to yesterday's mistake in the selloff, you're getting a chance to buy one of the best run companies in the world at a big discount i think you got to take the advantage of this pull back on monday morning because danaher is too good to ignore.

don't forget, the quarter was very, very strong, despite what you may have heard rumor or heard or read. "mad money" is back after the break. >> announcer: coming up, express yourself nothing more american than a look into this company's earnings, next [ eerie music playing ] [ heaving breathing ] maybe the only way he can die... is if i die too. ♪ ♪ we finish this now. come on michael. let's go. i started as a single mom with $2000 and a passion for new orleans. i'm lauren haydel owner of fluerty girl. today, my tiny online shop has grown into eight stores.

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all right. what the theck just happened to the stock of american express? the market tends to make mistakes when we get to the most congested part of the earning season and those are often opportunities. when i see american express down 2% today and by the way, off much more at one point, what i thought was a terrific quarter, i think that's the story the credit card company gave you top and bottom line beat with management even raising the full year earnings forecast

yet, the stock got hit so hard it's dealt with ten points over the 52-week low set this month so why would the ruesults from american express received so poorly and why do i think the stock is a buy the stock started the year strong as they are widely viewed as one of the best ways to play the post covid reopening talking travel or dining out, amex was set to benefit and put through a big dividend hike in late january saving real confidence in the year ahead you can't take those right back a. few weeks later ukraine throwing the european economy into chaos and the fed got more aggressive making us worry about a global recession since then, american mexpress ha been clobbered from falling under $230 to $140 today it didn't seem to matter the company had a great first quarter and a terrific second quarter. with management even raising the full year revenue forecast, the

stock hasn't been able to defy the gravitational pull of the market why? one word fear everyone is afraid a worldwide slowdown with cause major declines in consumer spending and defaulting in credit card debt more bad news for american express. you have to understand this market is highly skeptical of amex and never get the benefit of the doubt in this environment. didn't get the benefit three months ago it enough to make me wonder if the actual numbers seem to matter to people right now they always do, though sure enough, american express reported a terrific quarter this morning and the stock sold off anyway everybody is worried about that weakening consumer growing credit lose however, there isn't much in here to justify the fe fears. american express gave you a solid top and bottom line beat interest revenues up 23% and interest up 29%.

fabulous the u.s. consumer is up 27% and commercial 23 and international 19 and would have been 34 if not for currency fluctuations. these numbers are blow away numbers. the ceo i absolutely love because he's just a straight shooter, remember we did that piece with him he told a great story about record revenues for the second quarter in a row with high levels of customer engagement and customer loyalty overall spending by the customers was up 21% for heaven's sake. that's not really consistent with the weakening consumer, is it travel entertainment spending up 57% year over year, remember, it's that kind of economy. people going places with international travel and entertainment finally surpassing prepandemic levels i think that's huge. how about the loan losses everybody is afraid of we steadily rebuild loan balances with dellin past due

so far the pain simply hasn't hit yet. >> the house of pain. >> most importantly, american express maintaining the full year revenue forecast calling for 23 to 25% growth and they raised their earnings' forecast. again, not at all consistent with the slowdown. so then why didn't wall street like the numbers three main points of contention. first, american express is decelerating growth. the growth rate is slowing versus where it was this year. although, given how much the stock has fallen, my sense is that's baked in the cake american express grew at an incredible pace out of the worst pandemic and worst period of pandemic actually. of course, those numbers would decelerate as the comparisons get more difficult plus, they're still growing at a 20% plus clip. most companies would call for

the numbers. second, this is really a big one. american express had higher than expected provisions meaning setting aside more money for bad loans. wall street was looking for 574 million. everybody is terrified what will happen to the earnings when people default on credit card bills. that's what happens. i think the bears saw this number and took it as justification of their fears then many you look back historically, that number is really nothing the third quarter of 2019 when the economy is booming with hardly any inflation, american express had 879 million and the number this time was higher than expected, inedeed it was becaus expectations were warped where there are hardly any bad lows because the government is busy throwing money at you. when you're adding as many new people as express is, you have to boost the business per se it called prudence more importantly, the credit

card quality is great. in the fourth quarter of 2019, the last full quarter before the pab pandemic hit there were bills at more than 30% past due 1.8%. today is .8% and .9% i couldn't believe how good they are. could it get worse yes. the stock is trading like it would be disastrous and we've seen no evidence of that whatsoever typically bad loans are tied to employment, which remains at record levels. how about the third negative okay while american express had the full year earnings higher than previous guidance, that previous guidance was substantially lower than what the analysts were expecting and they didn't give us the new number. just said the range was too low so they didn't get credit for raising the forecast because everyone knew it was coming but given how poorly the stocks performed lately, it seems nuts people would sell american express down here because the guidance wasn't bullish enough

the stock wasn't trading like the forecast was too low put it together and i think this whole thing, this whole exercise is ridiculous, ridiculous amex sold off on a good number. it jumped from 130 to the lowest 140 at the close this is a level american express found support all year given that it now trades and this was astounding, ben soto in the room in our office room working how much traded. i would say it's probably about 18, no, 13 times that's a steal at these levels bottom line, i think the argument against american express doesn't hold water while the arguments for it like the incredible persistent travel boom make the stock a natural to buy into weakness and this quarter, it only made me like it more phillip in michigan, phillip >> caller: boo-yah, jim. >> boo-yah, phillip. >> caller: thanks for the education.

i'm glad my co-worker turned me on to you 15 years ago. >> excellent, excellent, excellent. >> over the last year i have accumulated a position in the bank with a cost average of $14.38 in huntington banc. it is above par because the intel plans are in ohio. i'm in the banking sector and own morgan stanley and wells fargo. looking at today's print conference call, i think winner, winner chicken dinner. obviously, there is two degrees. what do you think about the last quarter and future of the stock? >> i happen to think wells fargo is terrific. it's one of my biggest positions in the club and i really like huntington bank. wells fargo up at $1.18. the only thing surprising, you can get morgan stanley under 80 and do very, very well how about kevin in texas, please, kevin? >> caller: hey, jim, boo-yah, jim. >> boo-yah, kevin. >> caller: hey, jim, my question for you is i know the smp had a

pretty good rally today. do you think going into the end of the year, do you think it's going to end up higher or lower and -- >> it continues to lesson. go ahead, i'm sorry. >> caller: and also, do you think the fintech has bottomed stock square. thinking of setting a position in square. >> no, no, we have companies like american express. we don't need to go with companies actually losing money. we'll see absolutely no to that decision let's go to -- let's go to no one because we're about to wrap. and that, ladies and gentlemen, well, let's just say this quarter only made me like amex even more. much more "mad money" ahead including am i diversified i think thank the members. we're urging you to join making sure your portfolio is prepared to handle the action and switch it up

i'll give you answers in the your calls on rapid fire from the lightning round so stay with cramer

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the market has been keeping us on our toes recently and on a day like today when everyone thinks everything is rosie, it's important to remember to be prepared in case things turn for the worse as they often have i want to play a round of "am i diversif diver diversified" call me. maybe we need to mix it up maybe you have too many repetitive situations. let's start with some of your

tweets let's go to tom on twitter who says @jimcramer @"mad money", thanks for the education you provide in both good times and bad. my five stocks are adbvi, bjs, callon, dow, digital ocean go to work okay what do we do? first of all, we have an infa t -- infrastructure company, club company, chemical company. callon petroleum is self-evident we'll get rid of transocean and do a traditional industrial here because i think it's ready to roar i see it going we will add honeywell, make the

trade and then ready to go let's take number two. we'll bug, which is the name of my late dog. bug. on twitter who says @jimcramer a and @madmoney, first source, kinder morgan, united states steel, am i diversified? okay so let me just check i think that these are very, very tough i want to do a good job. so you'll have to excuse me while i look up some of these. because one of these is a combination of a company that i like very much but i have not been able to convince people to buy it that's miller knoll. i have a fantastic miller knoll chair but the stock isn't doing well no to that kinder morgan was downgraded today. i thought it was foolish

i like the pipeline company. reality income gives you a terrific monthly deal, builders first source is evident. we'll get rid of u.s. steel and make it new corp to keep kinder morgan and we'll get rid of miller knoll. a lot of people don't realize but eli lilly hit an all-time high today wait a second, why would we add a stock at the all time high it's doing so well we have no choice but to offer eli lilly, which is one of the largest positions for our charitable trust, which of course you can follow by joining and i urge you to do so with the cnbc investing club let's go to frank in my home state of new jersey, frank >> caller: hello, jim, thank you for taking my call this is frank from new jersey. my stocks google, pioneer natural resources, verizon and wells fargo. am i diversified >> okay. let's go over these.

icon enterprises, i like carl icahn but don't have any real knowledge of what's inside so we don't own stocks like that verizon had a terrible quarter, terrible but you know who will have a good week tmo i want growth. alphabet i think will have a great quarter next week. everyone wrote it off after the snap that's crazy pioneer is my favorite trust owns this, trust owns this, pioneer reports and wells fargo the largest bank i don't want to get too excited. i got people too exited this year because i'm so excited about dividend boosts and buy back but it's an expensive stock. you have a bank. you have a teleco and a tech company. we're getting rid of this and put eli lilly in here. why not? we like the pioneer very, very much and i hope that makes the changes -- i'd make the changes on monday because this is really getting messy and this one i don't know what they own next up is ryan in minnesota ryan >> oh, hey, there, jim

it ryan from minnesota i want to say thank you for everything you do and i'm also a member of the cnbc investing club top five holdings for am i diversified. amazon, huntington bank corp, pioneer natural resources, mp materials and danahugh boo-yah. >> boo-yah look, this is about teaching i have a lot of soul sourcing with jeff marks this week because we like the market the market was up. we're trying to do is teach. what are we trying to teach? a company represents fantastic life science growth that amazon is actually amazon web services, also amazon advertising and it's prime and don't forget it's got that thursday night game which is very good by the way and i like those announcers. and m.p. materials you need that those are rare materials, soon we have to get them all in the united states. huntington bank shares, i think the world of this bank i don't care people don't like the regionals because they're

wrong and i'm right. how do you like that pioneer net we covered pxd oil that is a great regional bank and specialty materials company and one of the greatest technology companies ever and life science and thanki want ton that gentleman we're working around the clock for you teaching you that's what we do best "mad money" is back after the break. >> announcer: coming up, cramer takes your calls and the sky is the limit. it's a fast fire lightning round, next.

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it is time, time for the lightening round plain and simple, and then the lightening round is over are you ready, ski daddy time for the lightening round. frank in tennessee, frank? >> caller: boo-yah jim. >> boo-yah frank. >> caller: i want to thank you for teaching us how to invest and for helping my wife and i retire early so -- >> yes >> caller: so, to get a better upside run, higher dividend and stay diversified, should i sell my profit with walmart and sport e -- start a position in proctor gamble >> yes lower the risk and raise your reward and be able to get a better dividend. that's an excellent idea thank you for being a member of the club so we can teach you how tomarkets.

let's go to hutch in arizona. >> caller: how are you doing >> that was easy. >> caller: first of all, i'm a new resident in arizona. recently moved from pennsylvania, taught school there for 35 years. >> nice. >> caller: my question is regarding iron mountain. i had it for several years for the income but in recent revelations about their earnings down 30% year over year, i'm a little concerned should i be? >> caller: no. actually, i still think you'll be okay. i know it was disappointing. i have felt that this stock has been a good stock for a very long time. right now i don't want to back away but i'll tell ya, i'm looking right now at ben we may have to do new work on iron mountain. we don't do that here on "mad money. we don't praylay that game. let's go to arty in california, arty >> caller: how are you doing today. boo-yah. >> doing good. what's going on?

>> caller: i go way back to the late '60s when 7 million shares was a big day. >> i would take a look and say wow, look at this big buy, 7 million. what's going on? >> caller: i just want to know what your thoughts are about para, paramount? >> here is what i like, i like johnson & johnson. sorry for the brothers johnson have it all over these other things let's go to ed in california, ed >> caller: jim, hi from northern california i'm subscribed to your club and i really appreciate the work you and your staffers do awesome. i already own a couple of energy stocks that you recommended. i did buy a few shares of this company. i got the impression that this company is a long-term play in natural gas so my long term

outlook is one to five years the company accelerate symbol ee -- >> i've looked -- this is why it is -- this is why i'm not so worried about europe up to 90, 95% of the energy because of e.e that's a good one. hey, why don't we go -- while we're on a roll, gary in texas, gary >> caller: hey, happy friday, jim. >> oh, no kidding. i wish i could work tomorrow but that's all right i'm going to bennys in chicago if you want to see me. how can i help >> caller: hey, i'm calling about m kccasin and that, ladies and gentlemen is the conclusion of the lightning round. >> announcer: the lightning round is sponsored by td ameritrade coming up, how high is your ceiling? cramer comments how to push your

portfolio to the limit, next

on the road, when i'm at a eagles' game or strolling down the street ir going to come backk market is a convenience fiction. there are companies with good cash flow and dividends this will come back when the roller coaster ride is over but the recent ipo in the spac plays, i don't think so last november when the fed decided to pull the old sw switch-a-roo it seemed like there would be a pause in companies becoming public but little do we know it would remain shut for a year the fed's aggressive rate hikes means there will be fewer follow offerings, the deals companies need to expand and raise money the businesses new and need the money are the least likely to make it through the cycle.

people are proud to raise cash but my advise to them is there is no price too low to issue stock in this market with your balance sheet and a fed mandated recession, they will need every penny and trust me, i've been there myself now, today we got a huge rally giving hope to everyone who is wishing the earnings would be good and the fed might pause after the next rate hike today is what it looks like. neither is necessary true. the fed doesn't want to lower the boom in the economy right before major election but most americans simply haven't seen what can happen when the fed just tightens and tightens and tig tightens businesses with a lot of floating debt start going under. companies related to housing start reporting hideous numbers and cutting the forecast but there are vast swaths of the market that do just fine stocks like some of the ones we own and teach about in the charitable trust, stocks like proctor and gamble or johnson & johnson, these names are scorn

because people are back to v log s -- loving software. believe me, that's a couple days and then the stocks are back in the bear seat. i know a lot of you are thinking and hoping this tightening cycle will be over or else the bond market wouldn't be so tame today. i think what is going on in bonds is merely a temporary rerer reprieve unless we get weak employment numbers and food will maybe come down because the fed is not going to stop bringing the pain until those figures drop my feeling is we're still quite away from there. in cycles like this, you have to remember the fed will over shoot because they want to make sure inflation is absolutely dead even if it means doing more damage to the economy, every time we hear from these people, they're laying the groundwork for more rate hikes, something that's pure bluster. given that the average family is paying $445 more per month for goods and services than they paid this time last year my guess is this cycle is

nowhere near over. it's got more. that doesn't mean the whole market is untouchable. it means you got to stick with what works and buy the stocks of profitable fallen angels forget about the stocks of the world being publicly traded. just because you have a funny sight that allows clever messaging that decembeisappearse your parents see it, as bad as that is it's more than the average spac tells you how up touchable those are. not enough people that invest or trade have lived through times like these that i have it's temping to buy beaten down stocks with increasing brand names and i saw many do that, well, you lost fortunes. instead, you need this moment right now. monday morning to get out of the minors and join me in the majors as we say in fantasy football now, we want a high floor but

not a high ceiling it's not time to make risky bets on down and out speculative stocks it's time to save dollars and put them in the best, not the worst. i like to say there is always a bull market some and evwhere an. i'm here for you. the january six committee signs a subpoena for former president trump. i'm tyler mathison in for shepard smith. >> announcer: when the committee wants to depose him. steve bannon sentenced for contempt of congress. >> this thing i'm above the law is a lie. >> announcer: the prison time ordered and why he may never have to serve it. >> a michigan family goes missing after the father