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 a little money my job is not just to entertain but educate and teach you and put today in context call me at 800-743-cnbc or tweet me @jimcramer.

we spent the day hunting the bears. the ones who scared so many people out of the hard debt. the federal bears said the market was too hawkish pronouncing this market was far more dangerous than you think and we were being complacent then i realized those bears want to come out on bad days. that's why i couldn't mind them. look like it the dow gained 331 and s&p surged 1.8% and nasdaq we've been in a nice bull market since the dollar peaked with bond yields last fall but the move is hidden by the smoke screen of mega cap techs which,

well, was awful last couple weeks. today was a nice day, though today, yeah, instead of throwing tech under the bus like the bears want, we actually saw new companies, new companies that reported tremendous quarters things like netflix. more on that later announcing big head count reductions monster ones like alphabet i guess it was a feel good session. so as we go into next week, i hope you stay open minded. don't let yourself be scared out of your whits. all those traders who love the whip sauce with the relentless negativity believe me, they are the ones that got it today. i don't feel bad for them. every time we get a couple downed days, they come out of the wood work and act like the world is ending. as i told you on this show most

of the week, do not listen to these cassandras sorry about that philadelphia accent there is a big game saturday take monday when we hear from adobe, a stock that's plunged from $550 last year to $356 today. the stock is as despised now as the old days you can talk about discipline growth going forward because it made an a acre session -- people didn't care about. you know where you're going to be >> the house of pain. >> let's keep going. i'm fired up here. tuesday, we begin the part of -- i'm fired -- you're having a gin and tonic, i'm working you get to the part of earnings season, i loathe where so many companies report each day that it's i'm possible to keep track and i do my best i always feel like what they're

doing is trying to give me a -- general electric probably show us why we'd want to be at the energy division after health care but all we want is the booming aerospace business in good time. trouble some we have 3 m. my dad used to rep 3 m the book games sold a lot of scotch tape and now 3 m doesn't look like that at all and litigation and really offset the ground water pollution and ear plugs that cause hearing problems for combat veterans the best thing i can say about 3 m now it yields 5% but that's not enough reward. it doesn't compensate you given the level of litigation risk next we got one that's a true bargain j&j. travel trust reports anything on tuesday, i bet the stock would fly. j&j is splitting off the consumer products business so the remaining company that's

pharma and medical devices can shine. the $168 stock could be worth $200 don't be dissuaded that it acted so badly this week but we have a gigantic rotation out of health care and tech. now, here is one we have union pacific as well. that's going to be put on a clinic on the state of american commerce and then after the close, we learn whether those layoffs microsoft announced this week are grounded in disappointment or prudence also, after the close, we know the fed wants to see real devastation in housing before it stops raising interest rates and much lower prices. giant home builder dr horton play ball with that thoesis we'll find out they say housing went up another 20%. you won't get a quarter point, quarter point. a full point over the course of the year wednesday, we might get boeing get this it might have the first week not

kidding. she thinks i'm joking. i'm not. we'll get boeings first good quarter in ages. stop laughing. i think we'll hear about orders galore including from china. the stock is trading like a good quarter ahead. i'm fanatical about the railroads. and that also includes norfolk southern remember, we want to rely more on private sectors and less on government statistics or fictions and from the talking heads of the federal reserve, i think why you wouldn't want to be on the federal reserve is you want to come on tv is your relatives see you. i can't think of another reason. anybody have one you in the back? i thought your hand was up thank your lucky stars these officials are in the blackout period where they can't talk imagine we had a blackout period 36 five days a year. we get results from ibm hit with contradictory analyst reports this week.

i like it going into the quarter because it's relatively defensive with a 4.7% yield. that's pretty good there is no yielding, service now. these are companies you buy on growth, not only yield this is perhaps the most aggressive of the cloud plays. i expect them to tell a story of new contracts, phenomenal growth but will anyone listen i don't know they sure didn't care last time. between adobe monday and service now on wednesday, we'll find out if the beaten down enterprise software stocks can find adherence this year. they need them tesla, oh, my, tesla's conference call used to be the highlight of earning season. fantastic inner play back and forth. just entertaining. but now it's nothing more than the ramblings of a great manufacturer being sued or brought a company they don't want and might have to explain the card discounts and i'm sure the shareholders with the insane

price it paid for twitter with shares in tesla. suboptimal next, we have a semi conductor glut who knows where we stand how about a company like land research because they make the manufacturing equipment you need to produce chips and always know and by the way, the ceo always tells. thursday, wow, here we are already. that kicks off with dow chemical we know fellow -- well, we just call it dow now. we don't call it chemical. it's dow fellow chemical traveler ppg soared up $7 or 6% when it didn't disappoint. this cohort including dow with a 5% yield has a really low bar, seems like a buy to me it's astonishing to me how so few people care about a $362 billion company that's in your wallet named mastercard. maybe you heard of it. this is an incredible repost tory of spending data. by well run company, too

it should have a strong fo forecast we heard from southwest luv or ha h-a-t-e. this used to be one of the best run airlines not anymore. as the inventory glut of processors over or chips that go into high performers for the internet but amazon is spending a fortune. i hope we find out more. i want to tell better. otherwise this can hurt the whole market intel is a lot less important. intel outside, ha, ha, ha, friday rolls around. and we get results from american express. i'm a member since 1981. many bears have turned on american express they think it looks like discovery or capital one i don't carry that stuff in my

wallet you got that in your wallet? american express is in my wallet far less credit exposure american express is terrific life is too short play that's the series we've been doing and nobody is focused on except for me. this could surprise the upside ben helped me write it life is too short. people are going out it was my thesis for the week. you can google it. chevron, the first of the mighty oils and i bet it produces a descent set of numbers can i go crazy about the stock no if oil spiebkes above the 90s y bet i will the sense that we might not need to play defense if the fed doesn't tighten and improves and we hear from colgate friday but i wouldn't want to go with that one regardless i prefer proctor and gamble. the essence of good money managers is diversification. you need some exposure to the industry and proctor is the best of the best. why my charitable trust is

building a nice position in the cincinnati giant here is the bottom line, it's a pivotal week first of three be on your toes. listen to the calls. don't take any action unless you're certain it's very hard to be certain about anything that's just reported that's me being on my toes with my $79 rock ports that look like $200 shoes let's go to trey in texas, trey? >> caller: hey, jim, in an effort to be more diversified, i've been shifting into alternative assets, specifically vintage poke man cards -- >> vintage >> caller: can this capitalize should it become a market trend. >> i think you might be early on the vintage pokemon cards. ebay is okay it's a bit of a dud. very inexpensive the problem is, it's been inexpensive for years. have you thought about, i don't

know, like maybe matesis or something? that's popular jac jac jackson pollack. don't take any action unless you're certain and remember, it's very hard to be certain about anything reported instantly. on "mad money" tonight, we're continuing our series on the post covid rebound with the e commerce space to see how it held up in the reopen world. then netflix soared today after earnings but there is one thing that's getting everyone is getting wrong about the darp thin darn thing and i'm getting real about it and reported top and bottom line beat earlier today, not based on bitcoin so what was behind the quarter strength? i'm checking in with the ceo so stay with cramer >> announcer: don't miss a second of "mad money." follow @jimcramer on twitter

have a question? tweet cramer #madtweets. send jim an email to madmoney@cnbc.com or give us a call at 1-800-743-cnbc miss something head to madmoney.cnbc.com.

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icy hot pro. just look around. this digital age we're living in, it's pretty unbelievable. problem is, not everyone's fully living in it.

nobody should have to take a class or fill out a medical form on public wifi with a screen the size of your hand. home internet shouldn't be a luxury. everyone should have it and now a lot more people can. so let's go. the digital age is waiting. since covid the world is getting back to normal but that's not true for the economy or stock market. a lot changed. we spent all week trying to figure out which changes are temporary and which are permanent. like i've said before, office space may be down and out. maybe for generation video games should be able to come back in a year or two what about the most iconic group of covid winners turned post covid losers that is the e commerce plays

they're business boomed during the height of the pandemic and stocks soared but once we could shop in person again, they started coming back to earth then the fed declared war on inflation and the whole group collapsed. the question is has e commerce been hobbled in a post pandemic world or can the group get back on its feet? this is temporary although still way too early to buy many stocks we know the top dogs in the space, though like amazon, shopify, they made huge bets to grow like crazy when we got over covid. turns out they were very wrong and now they desperately need to cut costs. something stuck with me when shopify admitted this last summer, they acknowledged the permanent stepup in e commerce was an illusion and says this remains a secular growth back then, to back down to where it would have been if the pandemic never occurred. fast forward to today with the

benefit of holiday shopping assistance, according to data from adobe, an online sales werp to a new record of 212 billion e commerce was 21.6% of retail sales up from 2021 and 2020. if you believe these numbers, the category hasn't lost much ground look at this this is reversion. it went up there and right back as if that didn't even happen. but it still clear that the trend line is positive it just wasn't that positive and they spent too much money right there. okay this probably shouldn't come as a surprise as the rise of e commerce is non-stop story for a decade we just saw a stunning level of growth in 2020 when you couldn't shop in person if you wanted to and too many companies assumed the level of growth would go once covid went array. this is what i'm upset about

with amazon. they spent all this money here and haven't taken care of it and dropped those -- well, they hadn't made the big head cuts. e commerce went back to normal but for this group, normal is pretty good. this is one of the most hated industry i haves in the market and you have to be selective to find anything investable back in december we highlighted five making comebacks, which is etsy, shopify, pinterest, going south america and chewy. etsy hasn't stopped a beat they help small and medium size business the amazon of south america, chewy is a digital pet food retailer and transitioning from an ad driven social network into a commerce driven story. since then, pinterest have roared while etsy and chewy have come in. i like because they're focused on profitable growth if you have

to ask me what my favorite would be at this very moment, it is still etsy because i like the fact they picked up new people and didn't lose them while many retailers are struggling, there are higher quality ones that have terrific online operations. take ulta beauty something on my app that broke out above $500 for the first time over this week for pulling back a few bucks that's been hated every dollar of the way. that's my people particularly hedge fund managers lululemon fits the bill even though the stock did get hammered the guidance was discouraging. the kind of stock that does get cheaper on the way down and lulu came down from $386 to $312. $312 i'm a believer. nike has an excellent direct to consumer business phenomenal more importantly, i delivered a magnificent quarter, huge top and bottom line beat and you better believe it will get

better they have gigantic chinese exposure and a good deal with the ministry of sports next, if you want an e commerce play that you can own right now, it's not top of mind but i don't want you to forget about prolop pro logics it provides logistical service it fell from the 170s to below 100 in october since then, it's bounced back to 120. it's nice -- wow really went down 120. even though many companies are cutting back on online fulfillment. prologis is fine finally, we need to address the elephant in the room, which is amazon the stock got off to a good start in 2023, it's off 15% year to date. that rally came off a low level. plus, i can't shake the idea amazon simply hasn't done enough to cut costs

management sure sounded like they got profitability last spring when they admitted to the over spending on e commerce. since then they haven't done that much. amazon announced 18,000 layoffs, which sounds like a lot but this is a company well over a million employees. to them this is a drop in the bucket and mostly administrative okay at the same time, for years wall street loved amazon because they were non-retail businesses, amazon web services for clouds, infrastructure and advertising advertising is weak and a lot of competition in the cloud with companies increasingly cour coursous, you have to expect a meaningful slow down and don't get me started about the ad business online advertising is simply awful right now. look, at the end of the day i adore amazon the company the business can make a big comeback and there will come a point where the stock comes screaming by we owned the stock forever but we definitely aren't there to a level to just go buy it.

unless, unless management takes a cleaver to the head count numbers. put it together, the e commerce space isn't destroyed by post covid. if you look at the underlying numbers, e commerce continues to take share from brick and mortar retail, not as fast as 2020. the stocks got way too ahead of themselves and had to come back pl hold it, don't buy it. there are e commerce plays i'm willing to get behind that truly prioritized profitability and that's etsy, and chewy and "mad money" is back after the break >> announcer: coming up, with changes a foot, we make sense of netflix' quarter, next

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the stock of netflix soared more than 8% today in response to a much better than expected quarter but the thing everyone is getting wrong is what made this quarter so good we keep hearing this reported as a subscriber growth story and those numbers admittedly were phenomenal but the game changer isn't subscriber but the fabulous bountiful cash flow because netflix made tremendous strides in pivot to profitability. i didn't hear a soul say it. it's the truth so let me do this. let me walk you through this one because the smallest of the fangs is the one that's broken away from the pact to become a true winner during this period and these results show you how they pulled it off first, let's go over the numbers. the headline results weren't anything special with basically

inline revenue and an earnings short fall the company made 12 cents per share. 12 cents, 55, holy cow there is an explanation for that cash charge during the quarter for something boring related to foreign exchange remeasurement of the debt. one off accounting thing but fooled a lot of people what really matters to the underlying operating profits, netflix made $550 million when analysts expected 442 million, much better than expected and the company generated $444 million in operating cash flow along with $332 million in free cash flow fcf. in someways, that's a clean measure of profitability in the earnings those positive cash flow numbers were huge because wall street expected them to become a negative instead of burning cash, netflix has become, yes, a cash machine. of course, what everyone focused on were subscriber numbers

7.66 paid subscriber editions, more than 3 million higher than what analysts were looking for let alone what netflix is forecasting using a traditional method and the letter to shareholders, management said this number was quote driven primarily by the success of q 4 content slated end quote and anyone that watched a lot knows that's absolutely true by the way, it's why i'm recommending netflix for months now. during the pandemic, it's too hard to film that hasn't been the case now for a year and we're finally seeing the big time payoff wednesday t"the adams family" spinoff, benwas driven by this the third most popular series ever "harry and meghan" was the second most popular. "troll a norwegian monster movie" was the most popular

non-english film people like titles the jeffrey cdohmer was popular but they didn't want to advertise a canble show. they expect positive paid subscriber gains although they're not going to disclose the specific number anymore because the launch of the ad supported business makes it muchless illuminating. not just positive to the numbers but the first quarter numbers weren't great, the full year forecast for 2023 was nothing short of stunning. let me give you the key line quote, we expect constant currency revenue growth to accelerate over the course of the year end kd quote. that's huge since netflix seen the revenue growth decline from 24% in the first quarter of 2021 to less than 2% in the quarter

that reported last night no wonder the stock fell so much from wall street's perspective, accelerating revenue growth is one of the most beautiful phrases in the english language. this market cares about profits and netflix gets it. quote, now that we are a decade into the original programming initiative and successfully scaled it, we are past the most cash intensive phase of this buildout sounds good. they go on quote, we believe we will be generating sustained positive annual free cash flow going forward. end quote. huge excludeing the impact of currency fluctuations, netflix seems to generate at least $3 billion of free cash flow this year the analyst was looking for 2.46 billion. that's a major stepup. while the 7.66 million new subscribers were impressive, the story is the fact netflix is throwing off tons of cash and we'll see more in the near future

they can build all the different -- they can create any amount of programming now that they have the free cash flow last time we saw headlines saying netflix missed earnings but the stock traded up because subscriber numbers are strong. i disagree with that analysis. netflix no longer lives and dies by subscriber growth in fact, in this market almost nothing trades with subscriber growth wall street puts profitability above all since the fed declared war on inflation i don't know why the analysts didn't see that. the most meaningful surprise was incredible cash flow and the expectation numbers will keep improving. make no mistake, 2023 should be a phenomenal year for these guys just as netflix finally has a terrific slate of new programming, the competitors are pressured to cut cost to deliver profitable growth true for disney plus or paramount plus, the last ceo was fired so the competition is about to get a lotless fierce which means

netflix can spend less too there are other important announcements. last night people might find disturbing the co-founder reid hastings is chance transitioning to executive chairman and a long-time netflix veteran that served as a chief operating officer. the other co-ceo, what else? we learned that the launch of netflix ad support here is mostly complete and now they're ready for a big crackdown on past past wo password sharing they don't expect this move to be popular and there might be some elevated churn, in other words, people leaving but in the long term, it will force people free loading to set up their accounts here is the bottom line. all day we heard netflix catch fire because of the growth number thanks to the excellent slate of content in the fourth quarter and certainly did happen i think the real driver here is different after years of investing to grow the business, netflix is finally throwing off

massive amounts of cash flow and free cash flow and the numbers are set to grow dramatically in 2023 and the bears said that could never happen in a market that's on sbsessed h cash flow is a game changer and i bet the stock can keep running. we need to go to mark in wisconsin, mark? >> caller: yeah, jim i've got a spanker of a stock here i bought it at about 175 it's trading at about 77 now buy, sell or hold on paypal? >> i think we did a loss on it a little higher from here for the charitable trust one of my more upsetting losses i've taken in my career but i think down here at 79, i'm not -- i'm reluctant to tell you to sell. if it goes back to 90,ly tell you to sell it jim in florida, jim? >> caller: jimmy chill, big boo-yah philadelphia eagles. >> yes, go birds.

>> reporter: on salesforce, i've been locking for an entry point and wondered if this is a good entry point. >> i think it is you have a bunch of activists in there trying to press things up. the dollar coming down trying to help marc benioff and a great firm with a lot of great products people are overlooking and by the way, the so-called churn and turnover, not everybody left on their own volition the real driver in netflix stock is its focus on cash thflow, no subscriptions. it's why i bet the stock will keep running so much more "mad money" ahead with the regional bang st struggling, could h band be the one for your portfolio the latest and we're beginning to see positive signs out of the tech cohort so what will it take to get wall street to embrace the change in tide maybe it's the end of the crimson tide i'll give you my take and all your calls, rapid fire in tonight's edition of the lightning round so stay with lightning round so stay with cramer.

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last week had great numbers. take the columbus ohio based hunting ton badgers a solid well run institution with 4.4% dividend yield hunting ton reported a bottom line but the market didn't know what to do with it and it closed less than 1% we need a closer look. let's check in with the chairman and ceo of huntington bank shares to learn more about the quarter. welcome back to "mad money." >> jim, great to be with you again. thank you. >> i got to tell you i thought this was a really good

quarter. no real losses to speak of explain to me the way i think a lot of people were saying in regional bank, why don't they go up on really good news they have a billion dollars buy back it's disconcerting if the stock didn't pop on an excellent quarter. >> we are disappointed, as well. we thought it should, as well. this was a record year for net income and a great fourth quarter, record fourth quarter credit is in terrific shape. there is an over hang we in the regionals are facing in uncertain economic outcomes and headlines out of davos, et cetera. >> what bothers me is you're in what i guess new york the heartland where people don't seem to walk away from deals it's not buy now pay later where they don't pay at all. you're loan loss -- i mean, autos. your auto. a lot of people are getting out of the auto business you lend to autos.

can you explain why rates can go up so much and hasn't seemed to stop borrowers at all from getting a loan from huntington >> there is an ethic of paying back and we benefit from that. the economy here in the midwest is relatively healthy. great manufacturing base more manufacturing jobs. full recovery since the pandemic in terms of lost jobs and a lot of industry moving in. so, you know, traditional rust belt term is fading and there is a new economy emerging quickly here the intel announcement alone early this past year is a game changer for us here in central ohio. >> now, let's talk about that. all over the country there is a shortage we're told of engineers. are there enough people coming out of your great universities in ohio that you can handle than the what i think is an amazing year for engineers >> you have about 32 dol2 colles

and universities around ohio state alone. ohio state significant huge engineering school. the answer is yes. you have schools with great output purdue in indiana and coming east, cleveland, you have fabulous schools throughout central ohio. >> you also have an outstanding reputation when it comes to small business and small business climate and congratulate you for being really a lotted for probably being the number one banker in the country for it what do you hear from the small business people? >> well, there is clear concern about the uncertainty. there is an the margin there is deferrals of decision making in terms of future investment this is their life blood and business so they're being cautious right now and the headlines are supporting that so we think the small businesses are generally in good shape.

they're adjusting to whatever the economy dictates and i think they're going to be able to get through this in relatively good shape. >> well, as a small business person who's owned a lot of different properties including hotels and restaurants, i have to believe i would be buying whatever i could around these different business sites, particularly the intel property because it's not going to be intel but everybody. are people going to huntington and say i want to take advantage of the opportunity and get lands and buildings and be in shape for when these projects really kick in? >> yes we have lead market share here we do a lot of business here and most of what happens we have some insight on. and we've been here for more than a century and a half. we have deep multi generational relationships. this will be a dividend for years and years to come, jim. >> speaking of the dividend. you have a lot of capital. i know it's slow and steady wins the race and i know you guys are so prudent but when you see the

stock not go up on great quarter like this, do you start thinking next year maybe is the year you have to bump it as much as the regulars let you >> well, we announced the buy back of a billion dollars over the next two years so that's a significant amount of capital return. we have a peer leading dividend yield today so there is no reason to think that we're not going to be trading at a multiple where we are over time. we just have to perform. >> all right one last question, you're a level headed steady business person has anyone ever come to you at your bank and say listen, would you please let us deposit bitcoin? >> i'm sure that's occurred. i'm not aware of it. we have not done anything proactively to position ourselves with that. >> wouldn't you as a prudent person suggest they go elsewhere if they want to do something else with it >> we have in the past i'm sure because we don't take it today

as a custodian or otherwise and when asked personally i've been over the years suggesting there are probably muchsafe every investments. >> i believe people want to be opportunistic and the only way it matters is fear and possibility you wake up and there is nothing left in the account. president, chairman and ceo of huntington thanks for coming on the show. >> always a pleasure good to see you, jim. >> thank you. "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, it is time for the lightening round buy, buy, buy and play this sound and the lightning round is over are you ready ski daddy? let's start with josh in south carolina, josh >> caller: hey, man, just wanted to talk a little bit about at&t post, preearnings. >> well, i'll tell you, att, i got a phrase and i really like it it's not as bad as it used to be some people feel that's damming and i think it's high priaise i'm going to john in massachusetts, john? >> caller: jim, an honor to speak with you. >> right back at you, john. >> caller: thank you very much i was supposed to hear from you yesterday but due to an error on my part, i take full

responsibility on deferring to today. >> no problem. >> caller: your producer took full responsibility. he's gracious, which i'm not surprised about because he works for you. >> that's the way we teach the executive producer whose birthday it is today is really nice go ahead >> caller: thank you, jim appreciate it. listen, i'm calling about plug power. you know that it's basically hydrogen fuel cells, green energy, it's a viable business -- >> you know what it is also? losses any loss that promises profitability for any time, i'm beginning to get my patience, my bo bountiful patience is getting tried so stay away chris in kansas, chris >> caller: jim, thank you for your time. shoutout to you and your staff for allowing us to invest in loud and crazy times my stock in question i've held

since 2020 these past few months, i followed your advice that make and sell stuff recently had an episode with ratios i noticed the stock i recommend -- this is a stock recommended -- >> is? >> caller: it's a juniper networks. >> oh, i like juniper. they're doing a lot of things right. terrific i screamed and my apple watch said please provide detail i think i fell i did not fall i guess when you get really excited your watch isn't happy sorry, siri. okay t okay let's go to rick in pennsylvania, rick >> caller: what's up, jim? how is it going? >> doing well. i'm from the eastern side of the state. ready for a big game what's happening >> caller: i seen the eagles ring you had on earlier. i picked up some carvana so i

got a good deal but i'm going to dump it while it's getting squeezed right now. >> siri, who do you think of carvana? >> caller: i know you hate carvana but what about kar, k-a-r. >> if carvana does have a problem, it will hurt kar. spelled k-a-r. qu dwight in kansas. >> caller: let's make some money. what do you think of medtronics. >> did you say let's lose some money? i want to make money i may have heard wrong we're not going to make money in m medtronics i'm unimpressed with it. let's go to lloyd in north carolina, lloyd? >> caller: i say boo-yah from

carolina, jim. >> good to be back, lloyd. >> caller: got a stock i bought a little bit of, devon energy, dvn. >> keep buying that dividend is fantastic giving me this thing but i don't know i guess i have to because it's friday and i'm done but that, ladies and gentlemen, is the conclusion of the lightning round. >> announcer: the lightening round is sponsored by td ameritrade coming up, be careful what you wish for, how the tech turn around powered by layoffs is working. stick with cramer, is all over t! hey professor, subscriptions are down but that's only an estimated 15% of their valuation. do you think the market is overreacting?

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we can't wish for something then throw a temper tantrum when we get it. what's going on in tech. when meta platform announced layoffs, the stock took off going from $94 to $139 that's a huge win. even as the company's growth is slowing down, since salesforce announced the layoffs this month, its stock soared from under 135 to 151 including nearly five points today despite a vicious research downgrade claiming it no longer deserves the growth mantle.

microsoft saw stock halted when it announced layoffs and went down but now roaring up eight points in one session and today after alphabet's announcement, its stock roared i mean, just incredible. five points. major breakout my first thought when i saw the layoffs is wait a second we want tech because of growth, not because of spending discipline but maybe that's plain wrong maybe that reaction is incorrect. maybe what matters is that these richly valued growth companies that have been undisciplined for so long are finally cutting down on the bloat allowing them to give you both sales and better earnings numbers at a more reasonable price, which is what we've been looking for we can't ask for teblg companies to be more frugal and say nope, they're part of a classic stock from the year and it doesn't matter what they do, they simply

can't be owned that's not right it's hard to bounce between the two stocks of the market, the techs on one side and measured industrial financials on the other side but our manager in this market is buy companies that make things or do stuff and return the profits to shareholders and have stocks that sell at reason nl prices so keep an open mind if that mantra includes tech stocks a group shunned for over a year. these layoffs are for real by the way. maybe they think they're not big enough some aren't but they acrepresen businesses are being hurt by the slowdown and at the same time, they're not going to be lotted for good work if they keep spending like drunken sailors. the dismissed workers have mostly been non-revenue generating employees some are from acquisitions that haven't been rationalized yesterday. we don't want to root for people losing their jobs and these layoffs will produce higher earnings per share, that's what people want from a stock and higher earnings will make all

the stocks cheaper than they currently look again, that fits my mantra for some investors these conscious tech names have become new found defensives with the traditional defense, the drugs being thrown out these are hybrids, not even classified other than when they got disciplined and stocks go higher because of the rapid fire changes, i'm more comfortable embracing some of these instead of shunning them because you can't say i'm concerned there is no discipline and complain when they get disciplined i've been saying al phabet hired 12,500 people last year. it bothered me why didn't they do something about it today they did how can i not applaud? apple is passing my test it can stay in my charitable trust portfolio and so can many others i'm worried about amazon 18,000 people. but they're still ridiculously over staffed from the time of the pandemic

if amazon did a reallyo lay off the stock would roar there is a road map and some tech companies are following it. it's working don't over think it. keep it simple and -- >> buy, buy, buy. >> i like to say there is always a bull market somewhere and i promise to find it here for you. i'm jim cramer see you monday ity. they had gold fever, and they had it bad. narrator: over a span of four years, the men import more than $3 billion worth of the precious metal. renaudin: go, go, go, go, go. that's what it was. go get everything. that was just the work of three individuals. it made no sense that they were bringing in that much. narrator: but what is the source of their gold? and just who were they doing business with? the gold mining is funded by narcotics to actually use as a mechanism to launder that money. bolton: a kilo of cocaine in the jungle is $2,500. a kilo of gold is $30 to $40,000. what would you rather move? narrator: american workers