the orioles, it was a beautiful picture. we should put that in, like -- >> pinterest page or something. >> it was a great family day. >> beautiful. >> orioles didn't do their part. >> another game. delta airlines there, sister. >> thank you for watching "fast money." "mad money" with jim cramer starts right now. my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm just trying to make you some money. my job isn't just to entertain you but to educate and teach you. call me at 1-800-743-cnbc or tweet me @jimcramer. wall street can factor pretty much everything instantly. but today you could see how hard it was to calculate the event of

countless unarmed israeli citizens being massacred. how the heck could we rally with the dow gaining and the nasdaq advancing 0.39%? maybe it is because there seemed to be no direct consequence for the united states. maybe it is because we are desensitized after the war in ukraine and russia. we treaded low all morning. then in early afternoon we started rallying. why? because fed board of governors vice chair phillip jefferson made dovish comments that immediately pushed stocks higher. he told us the fed is, quote, in a position to proceed carefully in additional firming that may be necessary. jefferson then continued, quote, we are in a sensitive period of risk management where we have to balance the risk of not tightening enough against the risk of being too restrictive,

end quote. previously the fed was worried about tightening too little. the rate hikes might be on hold for a little. it was that statement, not the horrific slaughter in israel that controlled today's action. it is not like nothing happened. these war crimes by hamas are unprecedented in their scale and we're now looking at an open war situation in israel and the gaza strip. but 29 years ago it seemed like there was a new suicide bombing every week. yet, our stock market still did fine. our stocks went higher, unlike the tug of war of ukrainian aid going on right now in the capitol, i'm sure our government will do what's necessary to protect its friends from its enemies. the u.s. watch the resupply of the israelis and the yom kippur war years ago. i'm confident that we'll do so again if necessary. hence, the run in defense stocks throughout the day. i doubt it will come to that,

though. the reaction to these moments seem unright counter intuitive. cyber security stocks fairing well, too. then the buyers shrugged off the hamas invasion and returned to the same invasion we saw on friday. we caught a rally centered on the day's biggest winners. there was no bond trading today thanks to coup will bus day. everything has taken to bonds, but they were totally lost today and didn't know what to do. if the bond market were open today and interest rates had gone higher thanks to rallies of oil and natural gas, i think the stock market would absolutely not have had this rally. but the presumption was rates would have gone lower because of statements from the fed. we'll know more tomorrow, but, yes, it could extend today's gains. i understand the market's confusion about the war in the middle east. the invasion analog the war of 1973 caused oil to spike as the

opex boycotted any country that helped the united states. that was a saudi-led boycott. these days saudi arabia has a much better relationship with israel. most likely because of the etfization of the market. i mean, that's what enables hunting ton engels, a navy shipbuilders to go up. it will be called on to provide more tanks. lockheed martin didn't have enough needle moving electronics, but i doubt it will be called into action given the fact that hamas doesn't have an air force. this time they're putting down an uncertainty that requires different. should oil have rallied? that's a legitimate and big question. it could equal the current demand for our country. the producers are free riding on

opex plus and russia's production cuts. they seem determined not to overproduce. so it seems reasonable that oil should go higher. to me, it is surprising oil isn't up more. that's more of the concern i had last week when the earlier oil rally was short covering. it is natural gas propelled by the oil trade that had an especially good day. let me point out again that the winner is coterra where the ceo told us on "mad money" that he has plenty of oil and plenty of gas but he was pivoting to natural gas. 27% less in two months and exceeds the gain in oil. such a good call. what about the rest of the market? i found jefferson's comments surprising because i was thinking there would be no cessation in the fight against inflation. once again, led by the magnificent seven. it is worth asking whether the

extended rally in apple maybe signals that the iphone 15 is doing much better than expected or much better than the bears keep talking about. it is worth pondering whether israel is just a distraction. at least from an investing perspective. it is not like ukraine which is a major source of food and source of oil and gas. oil and food along with housing costs represent the remaining holdouts in the fed's battle against inflation. again, how much our inflation problem is caused by russia's invasion of ukraine. israel is one of our most important allies but it is a small country. even if it's a symbolic impact is enormous. now, i commented on bull markets last week versus saying just a few months ago before we realized inflation was more persistent than we thought. the strength of the market remains in the company's with the best balance sheets. given more of the other winners from later in the show, it is a good list.

so the market heartlessly indifferent to the pictures, the cries, the shooting of innocents in a concert that triggered massive retaliation? let me put it this way. the market is about stocks. stocks are about compass, prospects. there is nothing here that impacts those prospects to save the possibility of a war between israel and iran. the bottom line, this is a situation where sadness begets more sadness, but no selling on its own because wall street is much more interested in what we heard from the vice chair of the fed on the eve of earning season and it cares more about corporate profits. bob in texas. bob? . >> caller: yeah. jim? >> yes. >> caller: i've been -- can you hear me? >> you sound great, bob. >> caller: okay. i have been purchasing club stock nvidia for the last few years. >> excellent. >> caller: and the last purchase i made was at 439. >> okay. >> caller: and i know that years ago apple split at 350, and i

don't know what considerations are made, but do you think there is a possibility? i know one thing is that it's so it makes it more affordable to people to buy when they split. do you think there is any possibility that nvidia might split? >> well, it is a great question bob because you are absolutely right. i have been pro split. a lot of professionals say, jim, here's the way i look at it. exactly the way bob does. i wish nvidia did split. they play it close to the vest and have given me no insight on what they might do. go to callaway in tennessee. >> caller: hey, jim. how are you? >> i'm great. >> caller: thanks for taking my question. >> of course. >> caller: i was curious. since its ipo arm stayed above its initial trading price of 51 and is now at 106 almost. and it's only slightly lower than nvidia at 110.

my question is do we see it come down after the lockout period maybe? and what is the fair value of the stock? >> great question. now, here's what happened today. the vast majority, i think the stock is -- can trade higher, maybe can trade up to 60. but the lockup is something that will release a lot of stock. that's not what i'm concerned about. i like what you said. that is wrong. it should trade at a multiple rower. max in florida. >> caller: thanks for taking my call. >> of course, max. how are you? >> caller: doing well. thanks very having me. i'm calling about academy sports. while the retail sector sold out of, they seemed to avoid this issue. they're in the process of expanding from 270 to 400 stores in the next four years. given that all their stores are profitable within 12 months and

near $8 a share, should i expect future earnings near $4 a share? if so, would their debt to equity be 433? >> it is incredibly cheap now, but i could have said that since the spring. all the stock has really done is go down. i think this is a level where i would start buying, but not aggressively because this thing is getting clubbed. all right. wall street can usually calculate things pretty instantly and immediately. but today we sees stocks are much less impacted by international conflict, no matter how horrendous. on "mad money" tonight, is the fed signaling a higher than longer strategy, we need to adjust. tonight i'm focussing on companies with strong financial positions that i think can do well in this market. morgan stanley published a bearish note. what else is new? that this market could get uglier. so i called up one of our favorite technicians to get his take on the matter, and you do not want to miss that big call.

and berkenstock is ready to walk into the new york stock exchange with ipos. should you try this on for size? i'm sharing where i come down. so stay with cramer. don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet cramer #madtweets. send jim an e-mail at cnbc.com. or give us a call. miss something? head to madmoney.cnbc.com.

♪ i've said it before and i'll say it again. when you are picking stocks,

nothing is more important than the bond market. for the better part of the last 15 years, with interest rates at or sonear zero, it is not something we need to worry about. the interest rates at their highest level in 16 years. and the fed signaling they plan to keep rates higher for longer. we need to adjust our strategy to find winners. this favors companies that don't need to borrow money. borrowing money will become more expensive. so if your business needs finance to operate, i got to tell you, you got a problem. in the most extreme cases, it can be an existential problem. does the company have so much debt it might fold now that refinancing has become more costly. higher interest rates mean higher expenses possibly for years to come. tonight and tomorrow i want you to take time to explain what this looks like from both sides of the issue. tonight we will start with some companies that are now at an advantage thanks to the strong

financial position and tomorrow we will start with the opposite. individual companies now in worse shape thanks to the reliance on external financing. picking the relevant winners in this environment is that a little over a week ago, goldman sachs strategist did much of the leg work for us in his u.s. weekly kick start note, invaluable, published ten days ago, he wrote elevated borrowing costs are looking like the largest risk to profits. if profits go down, the stocks will probably go down. on that same note, he highlighted a group of s&p 500 stocks that stand out because of their low vulnerability to higher borrowing costs. his team picked out 21 companies with a net leverage ratio below one. what's that? an interest before -- an earnings before interest in taxes to interest expense. interest expense ratios. that means a division in the top

tile of the s&p 500 and ebida growth. we're trying to find out who is the most solvent. not all of the names that cross this list are automatic buys. some of them i don't like because having a strong financial position might not be enough. those are not the kind of stocks that the fed may hit a slowdown. payroll processers like adp or trucking companies are not for me. i don't even like j&j because of its litigation risk. many others are worth buying here. eliminated a bunch more names to get ones i'm comfortable with so you can focus on a handful. this is very important. that was my own work. now i want to start with one that was so obvious to me. it is costco. one of the six names with a negative net leverage ratio, meaning they have more cash than debt. regular viewers know costco is a long-time cramer fave. along with walmart and amazon.

while the rest of the retail is being eaten alive by theft, they discourage professional shoplifters. there are a million other stores allowed to rob. when i see the company's cash position, i think they might pay a special dividend. the last was paid in late 2022. it is just a matter of when. there is cadence design. it makes software that helps semiconductor companies design their chips. we just had them on the show in may. it has become almost mandatory. they give their customers a huge competitive edge. it looks good when semiconductor business is coming out of its down cycle. it doesn't hurt more cash than debt. it is a good partner of nvidia's, too. we have blockrock with some of your favorite etfs. right now they're winning adds money migrants into mutual

funds. they got a lot of heft there. i feel good about this one. let's see how they're doing. next two of the nations largest drug distributors, what a business that can be, made the list. cardinal health. this is an interesting group because it is quite lucrative. at the end of the day, they're middlemen. i say who cares? i don't think their business models are at risk here, even if there is some headline risk as we go into 2024. for now there are cheap stocks that won't be hurt by higher rates. while most thin tech is dying here, there is one stealth thin tech that meets my criteria. it gives them online bank.

they help older institutions stay competitive online. another great business and one that's incredibly steady. another financial play that made the list, cme group, chicago mercantile exchange. in other words, they're middlemen. they trade. no dependency. long time favorite ix laboratories showed up. i love to see that because this stock could use a shot in the arm. they make diagnostic tools. the stock sold off hard because the pet plays were wildly seen as covid stocks. they are making a nice recovery late last year. and in the first half of this year. but it's turned ice cold since

late july. i don't think it's going away, though. ix can weather any near term squalls thanks to the financial qualities that landed them on the list. not my favorite of the group. i keep looking at these and i keep coming back to this one, costco as the one i like the most. with this new era of higher than longer interest rates, we will spend more time worrying about companies hurt by higher borrowing costs. stay tuned tomorrow for the biggest losers from the same phenomenal. "mad money" is back after the break. coming up, in the summer, our chart predicted the october 6th rally to the day. cramer tackles the technicals for a clearer look at what's to come next.

don't waste your time trying to analyze market trends. that's what vector vest is for. our market timing indicators let you know when to buy and sell so you can ride the rallies and avoid downturns. vector vest's powerful tools give you the foresight you need to buy low and sell high. and while everyone else is looking at the hot stock of the day, vector vest digs deep to find the real moneymakers, the ones you can win big with. timing is everything, so make the smart investing choice today and head to vectorvest.com for your risk free trial. meet gold bond daily healing. a powerhouse lotion that moisturizes, heals, and smooths dry skin. with 7 moisturizers & 3 vitamins.

and... new gold bond healing sensitive. clinically shown to heal & moisturize dry, sensitive skin. gold bond. the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire hi, i'm stacey, and i've lost 60 pounds on golo. (guitar music) matching your job description. i was surprised with the golo plan, i was not hungry. thanks to release, i don't feel the need to go for snacks or go back for seconds. give golo a try. this plan works.

(♪♪) we're lucky to have this team working for us. our therapists give their all each day, by helping those who need it most. we take great pride not just in the job our team does, but in them as people. our people. and while we're in the business of taking care of others... it's important our therapists know that with benefits from principal, they're taken care of too. (♪♪)

it would have been easy to be negative at the start of today's trading session, but the price of oil soaring in response to this war in israel. plus, while the market rebounded from its lows last week, we're still on shaky ground. just this morning, mike wilson at morgan stanley published a bearish note, signaling things will get uglier. but we spent last month and stocks found a bottom last week. mike wilson says in times of uncertainty, you need to consult the technicals, the charts. i agree with him. however, there are many ways to look at the charts and some have a better record than others. that's why we're going with larry williams, a legendary market historian, a top expert in this base.

larry has written over a dozen books and created a ton of technical indicators. many were named after him. more importantly, he's the guy that warned us that august and the bulk of september would be awesome. great call. he predicted the stocks to bottom in late september with a rebound coming in september. that's exactly what we have seen so far. nice call. don't forget. we just made brilliant bullish calls when everybody else was feeling extremely bearish. he got it right in 2020 when everybody was convinced under the weight of lockdowns. now that stocks started rebounding in october, kind of what he said, just as he predicted, what comes next? okay. larry is always looking for cycles that seem to repeat themselves over and over in the market. that's how he knew september would get ugly. it is what we told him would rebound in october. this is incredible. take a look at the chart with the most dominant cycle he spotted going back to early last year.

the dow followed the direction of the cycle. look. you can see. red goes up. and then this goes up. what happens if you project the recent cycle forward? get this. check out the dow going back to the beginning of the year with the cycle in red. the cycle has been a good guy to where the market was headed. this cycle has already bottomed. it suggested the dow will make a turn for the better by the end of the month. so this is what he was saying. he's like right here. he wasn't sure exactly when it would go up. wanted to be early so it would be in. let's zoom into the dow over the last couple months with the same daily cycle in red. now you really see what i'm talking about. based on this pattern, the market trading in the range, okay. but with an outside bias before we get to a powerful rally at the end of october. so stay in. now, look at the dow's weekly chart going back to march of last year, there is a longer term 117 week cycle. this is dominated for a long

time and he usually does a good job of pointing out key moments with the trajectory. and the 117-week cycle says we should expect action in the dow starting now. of course, it's not just the cycle forecast to make you feel constructive. he likes to take his cue from the watergate investigation. that's my own view. and he likes to follow the money. he is skeptical of conventional wisdom. instead, he prefers to look for data. that's why i say he's a market historian. for example, the cftc's weekly commitment of the report which shows you what small speculators and others are doing. large speculators are money managers. and commercial hedgers are business, people in business with a much more direction to the futures. they're executing a business

strategy. and that's what williams likes to watch what the commercial hedgers are doing. his view, they alone are the smart money. they must be followed. take a look at this chart of the long or short position of the commercial. look at this. and then right here. notice williams, okay. in the commercial hedgers down at the bottom in red. this is what we will be focused on for second. even though you are constantly hearing bearish comments about this market, the commercial hedgers have been loading up on stocks of late. that's not an opinion. it is fact. look at this. this is a genuine huge buy by the people who are in the know. right now the commercial hedgers are net by 29,549 commercials. that's real money. look at the last three times their net long position was at these levels. okay? look at this. one, two, three. well, i would say pretty much call it. this is the best one.

each time it proceeded to a nice rally. although some were bigger than others, sure. it is still a bullish sign. it is a conglomeration. so why try to read the tea leaves of charts when you can cut to the chase to see what the smart money is doing. he was the first analyst to write about the trader's report. that was back in the '70s. we know it's with stood the test of time. because market volume fluctuates, not irrelevant. he instructed his own commitment of traders indicators to make more equal comparisons over many different periods. check out what this looks like. now we're going back to 2017. that's important. this will take some really interesting moments. the red line on the bottom is the williams cot commercial index. the heat created to engage the stuff. it shows the level among hedgers. it ranges from 0% where they're

not buyers to 100% where they're heavily long. look at this. as of last thursday, this stood at 91% bullish. no wonder why we bounced today. you have to go to larry's website. it's called ireallytraded.com. here's the bottom line of what i think is an amazing exposition. while some technicians claim that the market is about to get real ugly, when you consult the true expert, larry williams, his indicators suggest we could look at serious upside by the end of the month. when it comes to the stock market, he would be a buyer here, not a seller. is it any wonder that we could rally this morning if you looked at these charts. now i want to go to phone calls. i want to start with larry in florida. larry? >> hey, jim. just want to wish the world peace and some stability in israel, first of all. >> yes. >> caller: i want to thank you for all your advice.

jim, you have literally made me rich. no joke. >> you're having kind. a lot of people said that. my wife just said that maybe i'm doing okay. my wife wrestles with the idea i work too hard. i say i work for you. >> caller: i really appreciate it. jim, one of my favorite talks is what you refer to as accidental high yielders. >> correct. >> caller: this has been the cornerstone of my investment thesis. this cramer favorite now has gone to better than 8% yield. jim, i'm ready to back up the truck on emb. tell me your thoughts. >> i think they're down a lot one was because the yield was no longer as good in terms of safety after the five-year and ten-year and 20-year all exploded higher. but the other reason, and i have to tell you, this is what i'm most worried about, they made a deal that i actually don't

understand. they made a deal with dominion. i don't understand it. i can't get it. you need to have management come on and explain it better. i need at least 15 to understand what the heck is going on. so come on "mad money." we welcome you. how about we go to john in virginia. >> caller: hey, jim. it is great talking to you. i'm a club member. a first-time caller. and i just, first of all, want to thank you for youre advice d guidance. >> hope you will be on the call wednesday, which is very important. >> caller: yes, sir. my question is really rtx. formally ratheon. buying shares in the mid-90 range and had been buying a few additional shares that has drifted down into the 70s. i think its decline was sparked by the engine issue. >> absolutely. maybe i could get more insights on that. but they should have a good book of business given the current

state of world politics. i'm wondering what your take is. >> well, first, thank you for the kind comments, john. i did wonder if the stock could bottom at any price. we have found the price now. i see when i bottom like that, i want you to hold on. can't ask you to buy anymore, but i want you to hold on. before i would have said, forget it. there is no level. the favorite indicators of expert charters and market historian larry williams suggests there could be serious upside by the end of the month. this month itself will have an upper bias. now, much more "mad money," including my take on the berkenstock ipo. from running to stocks, we have been all over the footwear stock since we know you care about them. where do the stocks fit in? i'll give you my take. and there is always a bull market somewhere. i spotted a big one that can't be ignored in tonight's edition of the lightening round. so stay with cramer.

♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf

that inspired the world to invest differently. it still does. what can you do with spy? ♪ that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. ♪ (upbeat music) ♪ ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) -awww. -awww. -awww. -nope. ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall.

later this week, the recovering ipo market will be put to the test when berkenstock becomes public. yeah, $1.5 billion worth of stock. i think this is worth focussing on. not because it is big, but also more importantly because it is unusual. they're pursuing an aggressive valuation by any standard. "reuters" reported there is enough demand for the deal to come in at the high end of the proposed range. i was shocked at that. that's $49 per share. market capitalization of just under $10 billion.

that's more than double the private equity owner paid to acquire two and a half years ago. do you think it increased that much in value? you think, oh, i will like this story plenty. otherwise, it is simply unjustifiable. perhaps it is almost never a good idea to buy it after the ipo. people are going to wish market orders. but that goes double for birkenstock. this year's other big ipos were underpriced to get people uninterested. that is not the case here. see, we're starting to progress. so what is the story? everybody knows birkenstock is the old hippy brand turn ed yuppie brand. that won them a new generation of customers, including my wife. we know younger people's tastes can quickly change. you know, they're like -- that's

it, they are putting up magnificent numbers. the margin is headed in the right direction. see, about a decade ago, they controlled a company from its valiant 1774 until it settled with a private equity firm in 2021, brought in outside management. he's been the new team professionalized business. in 2021, birkenstock put up 32% revenue growth. for the last ten months, in june it was 21%. let's talk about the private equity owner here partly owned by lvmh. they have aggressively promoted the brand including two collaborations with christian dior. it's worked from 2020 through 2022. birkenstock's price grew while average selling prices for up another 15% in nine months.

but there is a flip side to these numbers. while birkenstock put up higher growth, their unit growth is a lot less impressive. it is up just 5% year over year ending this june. that's not something you want to see as the global economy slows down. suddenly, it will make it harder for them to keep raising prices. what else? birkenstock has plans in asia, currently is a tiny part of the business, the middle east and african owning 10% of the sales. i have no idea how it will go over. but they have been incredibly successful at growing their brands in china. check the positive on this one. the other thing they have done is expand margins. not just in price hikes. they rationalized the roster to cut out the retail middleman and cleaned up the supply chain. as a result, it is a span of 55% in 2020, just 61% now. between the growth, birkenstock

was able to put up impressive growth. although, their net profit was down 20% year over year. i'm calling that a little worrisome. see, the pros and cons? what else do you need to know? because this is a private equity ipo, less than 11 million shares are being sold to raise money with el pattern selling 21.5 million shares to take profits. even if the private equity's firm still own 80% of business, so they're the controlling shareholder. they loaded up birkenstock with debt and used the proceeds to clean up its bounty. that's a real drag on profitability going forward. doesn't help a huge chunk is floating rate debt, which is the last thing you want when rates are soaring. see, this is an iconic brand. and much of its shares are already spoken for. remember when i said it will open too high? of the $1.5 billion offering,

$325 million will be boubt and the remaining are really smart people. that's somewhat encouraging because it indicates they want to stay with the business. this is what somebody is going to be used to combat negative. meanwhile, a hedge fund and wealth fund were buying the offer. 42% of the shares being sold are already spoken for. that's one reason i suspect the stock could soar right out of the gate. i have no reason to doubt the router's report that it will price at the higher end of the range. with much of the ipo spoken for, i wouldn't be surprised if it pops to high 50s, maybe low 60s where i would be very, very wary. >> don't buy! don't buy! don't buy! >> even if we use the high end of the price range, we're talking about $10 billion in the market capitol. and $11 billion for the nine month period ending in june. we could be talking about 516

million euros this year. that's the enterprise validity vieded by the ebida. that kind of valuation would put them at the high end of what wall street is willing to pay. how about some comparison? only on holdings is more expensive on this basis. that is at 27.5. but that's because the swiss running shoe maker has a much faster growth rate. if they decide they need to trade more like crocks, then look out below. and, again, that's where i'd be trading at the high end of the price range, $49. assuming a sizable first day spike, the stock is expected to get much more higher than that. they displayed the incredibly popular barbie movie.

you need to be careful in the stock. i worry it will be too expensive right out of the gate and will only get more expensive in the initial eating frenzy. bottom line, lots of ipos have had hot starts, but that almost ends badly for the people that buy the stock with a market border. if you can get a piece on the deal, that's another story. but if you are just buying like everybody else in the open market, i think you will get absolutely pummelled. i say you are better off on the sidelines waiting for the stock to cool down because it probably will. "mad money" is back after the break. coming up, cramer takes your calls and the sky is the limit. it's a fast fire lightening round next.

with gold bond... you can age on your own terms. retinol overnight means... the smoothing benefits of retinol. are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. - i got the cabin for three days. it's gonna be sweet! diminishes wrinkled skin what? i'm 12 hours short. - have a fun weekend. - ♪ unnecessary action hero! unnecessary. ♪ - was that necessary? - no. neither is a blown weekend. with paycom, employees do their own payroll so you can fix problems before they become problems. - hmm! get paycom and make the unnecessary, unnecessary. - see you down the line.

♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™.

>> announcer: lightning round is sponsored by charles schwab. own your tomorrow. [ bell ringing ] >> it is time. it is time for the lightning round. you say the name of the stock. i don't know the calls or the name of the stock ahead of time. i tell you whether to buy or sell. when you hear this sound -- [ buzzer ] -- then the lightning round is over. are you ready, skee-daddy? i'm going to start with brendan in new jersey. brendan? >> caller: hi, jim. how are you doing? >> i'm doing okay. >> caller: yeah. are you doing anything for halloween? >> undetermined, frankly. i may have to think about that with my daughters. what's happening? >> caller: i have a stock that i don't know what it does. what do you think about it, veeva systems? >> it hardly ever misses its

quarterened and it is a buy. let's go to miles in florida. miles? >> caller: what do you say, jim. how about a big new york jets boo-yeah. >> i have the eagles playing them next week. miles is funny. come on, comedian. what do you got for me? >> caller: what about ufs, u.s. bank? >> i think it's terrific. it yields 6%. it should bottom, but these regional banks are so bad that i can't recommend them, so i'm afraid people will buy them and they will go down again when they report. let's go to deke in pennsylvania. >> caller: good to hear your voice. >> same. >> caller: what about super micro compcomputer? >> it's at the right end of where things are. look, generative ai, ai, it's why people buy the stock. let's go to mark in iowa. mark? >> caller: hi, jim. how are you this evening? >> i am good, mark.

how are you? >> caller: not too bad at all. it is no secret that utilities are an unwanted sector right now. >> totally. >> caller: this utility company sold $1.5 million worth of renewable energy and is using this money to help streamline. it is selling at a pe under 19 and has a 4.6% dividend. what do we need to see aet look attractive again? >> great question. i think the problem is if it's 4.5% yield, what happens if you get 5% in a 10 year or 20 year piece of paper? i think that's a better deal. stocks have to come downward in order to make it cheaper. let's go to frank in new york. frank? >> caller: yeah, jim. i still really like the economy is moving along nicely and almost everything that's made is unbelievable. >> absolutely right. >> caller: i think it's in a lot

of great areas. >> i agree with you. matt murphy is doing a great job. people feel like it's away from its optical business which is involved with nvidia. i think you buy some here and then you buy some if it comes lower. in other words, i am not all in it at this level. i need to go to stacy in georgia. stacy? >> caller: dr. cramer, how are you? >> i am good, stacy. how are you? >> caller: i'm doing well. thank you. i am calling to pick your brain today on snow flake. >> all right. very high multiple stock. should report good earnings next year. i think frank is doing terrific stuff to be able to rent the cloud. but i also am concerned about high mobile stocks and i don't want to go all in on this one. i like it, though. now let's go to abeed in ohio. what's happening? >> caller: boo-yeah from ohio. thank you for taking my call. >> absolutely. how can i help?

>> caller: jim, i'm calling about a stock that's big this year but starting to show some recovery. jim, what are your thoughts on gray television network? >> oh, boy. tv? i'll tell you, i just can't go there. i'm not afraid because that's not my style. it is just the tv is so hard. for instance, we own disney for the travel trust. got nelson and 30 million shares. it is up today and probably will be down tomorrow. by the time i get to the wednesday meeting, i'm sure people say, listen, i don't care anymore. craziness. brett in texas. brett? >> caller: what's happening, jim. how are you doing today? >> i'm doing all right. how are you. >> caller: doing all right. big boo-yeah. calling today about tk. trying to find a bull market. >> that's the best it's been. it's the best crude oil carrier. i'm not going to dissuade you. i think it's fine. and that is the conclusion of the lightening round. the lightening round is sponsored by charles schwab.

coming up, bond yields with hobble bull markets. why is one sector in particular resisting the head wind? cramer cracks the code next. this is american infrastructure. megawatts of power, rails and open road, and essential services of every kind. all running on countless invisible networks,

making it a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends the systems running america's infrastructure. for these services. for the 336 million of us living here. ♪

last week i talked about the

destruction of so many bull markets thanks to the drop in bond markets. i didn't talk about one of the greatest bond markets of our era. the bull market of cyber security. we stopped hearing about them. but then the sec issued a ruling july of this year saying the company has now four days to reveal a hack. ever since we learned these data breaches are everywhere and much more costly than we thought. johnson controls revealed it, quote, experienced disruption in internal information infrastructure and applications. the company assessing the damage including whether the hack could impact the timing and the results. they're not done yet. by the way, he has a number of contracts with the federal government, including homeland security. s caesar's paid the ransom. mgm didn't pay the ransom and

took a $100 million hit. the worst hit was clorox, which gave us an earnings warnings which took the numbers down drastically all because of the process. making these more ominous from the verbiage of the statement. it didn't seem like they're finished rooting out the hackers. we have specific winners. companies that attempted to stop the hackers with various tools thattic ma make it harder to penetrate. they own palo alto networks. t it is why they're perceived as the gold standard. we picked them as we will explain in our investing club meeting noon wednesday because we believe the hackers prefer to go after companies with less thorough protection. i want you to think of it like this. if a car thief is looking for targets, they will avoid the ones with doors locked and go to the ones carelessly left open.

it is like locking a digital door. i think crowd strike offers protection. and in this case offers a broad array of cloud based cyber security solutions. his company tracks an identity to keep outsiders from getting in. he mentioned mgm is a client, which i thought would hurt their stock. but he made it clear that you can't stop hacks like these unless you train your employees not to help others who may be mass car raiding as their coworkers. no cyber security can stop that. cyber security bull market extends to z scalers. oh, boy. do they like this one. they can block hackers with threat protection that helps deny enter to those that don't go inside. right now it is probably the most loved stock in the entire cohort. you always want to buy the stocks in companies where it is most rabbit. you either pay a king's ransom to the bad guys or see your

earnings slaughtered. no wonder businesses are willing to spend fortunes to protect themselves. especially when we seen how worldwide turmoil can easily catch the authorities off yagua. "last call" starts now! >> right now, on "last call," oil prices surges, turmoil rocks the mideast. one key factor markets may be ignoring. the house speaker drama enter critical hours, last developments on capitol hill. nearing a deal? tesla taking on everyone in the car price wars. a sin city blowout, all thanks to that sphere. right here. we'll go live for mind-blowing numbers. if you thought luxury chicken coop