highs. >> steve grasso? >> applied digital. >> ever since nvidia disclosed they gave $160 million, the validity that it gave this name has been off to the races. still continues. i'm still long. >> you said derhosen because you wanted to say it. "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. my job is not just to entertain but to educate to try to teach you. so call me 1-800-743-cnbc, tweet

me @jimcramer. scott bessent, the treasury secretary designate, the fence sitters and skeptics are jump on the bandwagon as if they said higher for all. the dow getting 440 points. this is to an all-time high. the s&p advancing 0.3%. we know there was going to be a quick burst of buying, not when donald trump won but when kamala harris lost because, despite the fact that the stock market did incredibly well under her boss, joe biden, their administration was seen as a wild soak the rich white house. it didn't matter that harris tried to be more pro-business in her campaign, that her brother-in-law was the general counsel of uber. when you're a former senator from california, one of the most progressive states in the nation, wall street is not going to believe you're a friend of capital, a fancy word for the money interests. this is no longer the bill clinton era for the democratic party. when i met with clinton back then, he was fascinated by the

market. he had genuine knowledge, but even more important, he had an intense thirst for how it shgd would. these days the democratic party at best has no thoughts about the stock market. i think it becomes an ugly epithet not worth uttering. president-elect trump was all about nielsen ratings when he was on "the apprentice" and said the dow jones industrial average all-time high and the s&p was his nielsen ratings. he likes to win. he wants the stock market to go up to ratify his performance of the that's a big reason why the market exploded higher when he won. but soon after the election we heard the euphoria was over. you heard that. the market was dead. because while wall street loves a republican trifecta, it doesn't love trump's tariff proposals. tariffs are a selective sales tax that only applies to imports and the countries that get hit with themretaliate. enter scott bessent. he is a consensus candidate, very different from the kind of guy we thought would get the

job, a measured former hedge fund manager who formally worked for george soros, of all people, bessent is a pure surprise. he's the kind of pick you make if you're trying to be as reasonable and responsible as possible. part of the modern firmament. what does bessent given you besides a good pedigree and for those who want things to be somewhat normal? the 3-3-3 policy brought by shinzo abe, someone revered for putting the soul in the japanese economy, the three arrows. how does it work? we have an out-of-control budget deficit in this country. something that should give us pause. $1.8 trillion in this fiscal year, that is insane. the $36 trillion in national debt with no obvious way to pay it down. anyone who tried to put pen to paper during the trump campaign figured he'd take the busted

budget and bust it even worse if that was possible. i know the progressive wing of the democratic party in their postmortem dislike vice president harris -- how she presented herself as the saner person when it came to the budget because why? goldman sachs said she was. goldman is the most liberal of the investment houses but in certain circles a bastion of right-wing potters like from "it's a wonderful life." trump couldn't be bothered with anything involving the budget except to have our allies and enemies pay it down with tariffs. he doesn't care. he's the self-described king of debt. bessent. his plan to cut by 2029, well, it makes sense. it's prudent. frugal even. and trump must be taking this stuff seriously or he wouldn't have given the guy the job. two ways to make the national debt manageable, inflate, buy more, bad. or you can grow your way out of it. that's where the second part of the three arrows come in. 3% gdp growth helped along by

deregulation, a goldilocks story, not too much inflation, deregulation, without having draconian spending cuts. are there really that many restrictive regulations that make it so that things are slow in this country? okay. goldilocks, it was a fairy ale, but a theory says the financial system has been held back by federal regulation that is impede growth. in reality state and local regulations impede growth but plenty could be rolled back at the federal level. i say that as a small business owner, small business creator and not a journalist or whatever the hell people think i do for a living. an additional 3 million barrels of oil a day, this is a pipeline dream. i thought of that myself. first, i don't know if it's really possible even if you opened up every acre of federal land, which you won't be able to because there are laws protecting that land. the most you could add right now is probably about a million barrels a day. you need all sorts of new technology to get beyond that

plus the oil industry would hate it. the price of crude would fall through the floor if we added that much production because there's not that much demand that would lead to a self-fulfilling cut of setbacks taking oil back to where it is now. that's a roundtrip. it does nothing for anybody. you might say i'm a skeptic about all the 3s. i like that bessent held out he doesn't favor jamming on huge tariffs all at once. a phase that's much more my style. it's his, too. can there be a legit top-to-bottom line change in the efficiency of our government and the costs associated with it? count me as a skeptic about any change to the government including elon musk and vivek ramaswamy's doge thing because every penny of spending in the budget has a constituency, and when you add all those proposed cutbacks together, a tremendous amount of opposition. but that's not the point. what matters is that this treasury secretary des i design

like mnuchin before him, well, they've been proven wrong. [ buzzer ] don't take my word for it. take the bond market's word for it. going to 5% and now we're cheering about a 4.28% yield as rates plunge on the announcement of bessent getting the job. you may regard this as splitting hairs, but when you're dealing with credit, the largest market on earth, you see the numbers and think happy days are indeed here again. what a switch from just a week ago. i'd like to say that every basis point counts and there are hundreds of basis points. housing gets revived. car loans get extended. the parts of the economy ailing can recover. bottom line, that's what's being celebrated today all from one nomination, then again, from wall street and for the affirmament of money interests. let's go to matthew in massachusetts. matthew? >> caller: it's matthew's mom. here is matthew. >> all right. let me hear him. >> caller: jim, thanks for taking me call.

>> chief, what's up? >> caller: i was wondering, how do you think trump's stern stance on tariffs and his goal for more balanced foreign trade policy will affect overseas companies such as alibaba? >> i have matthew who is also going to be my co-host and then he's going to take over the show friday when i'm on vacation, and matthew already has game. i don't think trump can necessarily hurt anybody over there. i will say this, if he got higher tariffs, alibaba would go down. why don't up handle that in the b block on friday. jerry in missouri? >> caller: thanks for taking my call. >> of course. what's up, jerry? >> caller: this car giant is staging a comeback and i'm glad to see some of my losses are being erased. over the last three weeks it's up over 50% on no news. this morning i sold an eighth of my position when it soared 16% from at the open.

>> this is what you have to do. i am in favor of speculation. what you have to do when you speculate is when you have wins, you have to take some off. again, i'm not against speculation. i am not a skull. 90% would hate you are long hertz. not me. i think that's it's great you're in hertz. as long as you take a profit, then you're fine. otherwise i would join the nation of scolds. sometimes that's all it takes to push the dow to another record high including an appointment of someone that no one ever heard of two weeks ago. i am running through a three-part series about the signs of excess from across the tape like we discussed with our friend jerry. i have to tell you one thing, though, i'm going to be diving into the a.i. software names and you'd better write them down because i want some profits taking in some of these but that's up to you. if you're up big, you need to take something off the table. the fintech alternative energy

come in this market? i'm doing the same thing with those and then later on a closer look at red-hot trump trades after the gop is elected and i want to you do what i told jerry to do or what he was doing by himself, take some profits so they won't go away. stay with cramer. >> announcer: don't miss a second of "mad money." follow @jimcramer on x. have a question, tweet #madmentions. send an email to madmoney@cnbc.com. miss something, head to madmoney.cnbc.com.

♪♪ amazing. jerry, you've got to see this. i've seen it. trust me, after 15 walks, it gets a little old.

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connect to the world of wicked this holiday, in theaters now. ♪ for the past couple of weeks we've seen signs of excess bubbling all over the stock market in all sorts of places.

to the point where i feel like devoting a whole show to laying them all out for you so you're prepared, be pretty. i think it's reasonable for the s&p 500 to be up 4.9% for the month of november, republican sweep on election day with promises of lower taxes and deregulation, something wall street always adores plus a rate cut from the fed a few days later. the magnificent seven haven't gone crazy either. they've been pretty tame this month. if it's not in the averages, where is the excess that i'm talking about? frankly, it's everywhere. it's all over the place. we'll have a remarkable rally for one-off stocks one day and then something similar in another stock the next day. you can see it on the crawl at the bottom of the screen every session, particularly after the bell and very early in the morning. that's why this week, during the weekend what we did was this, ran a simple screen looking for u.s. listed stocks that are

large enough to talk about onair with total returns of more than 50%, 5-0, for the month of november. as of the close last friday, there were 66 darned stocks that fit that bill, that would take over gains. people are really making money provided they are also taking something off the table. no money made. what you find are several baskets of stocks that people can't stop buying. they can't keep their hands off them. some are a lot less legitimate than others. let's start with the quantum computing plays because the best performer at least so far is a company called quantum computing 588%. two more, both of which have more than doubled month to date. the last one sounds like a tv station i'm not working for.

i have no idea what's behind the sudden interest in the quantum computing stocks. don't ask me to explain. you need a physics degree to get your head around it. people have been talking about it for years, it's highly experimental. i do know stocks. when you look at qubt, this was a beverage company until 2018 when it pivoted, pivoted to being in software for quantum computing. in 2022 qubt acquired a develop early of quantum photonics systems. they're building a plant in arizona to make specialized materials for quantum computing and running on track. they announced the first few orders for their planned arizona fab. ♪ hallelujah ♪ >> i do know that qubt is losing money and has hardly any

revenue. through the first nine months of the year it only racked up $311,000 in sales. this is six years into the quantum computing pivot. somehow quf ubt is a $910 million company, excess of d-wave quantum of a spac, always reassuring, and is unprofitable, but at least it's on track to make about $9 billion in revenue this year. is that enough to justify its market cap? the last one ionq, after more than doubling this month they're unprofitable, too, though it is expected to reach $41 million in revenue, up 88% from 2023. i like that no disrespect to the three companies, but people are reaching for anything with the name quantum in it. quantum this, quantum that. that seems to be a theme across all the pockets of excess that we're going to discuss, which brings me to the next group, anything with a.i. in the name,

and that starts with a.i. unlimited group. that's up 349% in the month of november. and then there's sound a.i., cd3 a.i. previously known as lever global, hardly had any trading volume when the company completed three acquisitions in the fintech and travel industries, but for now, just know this. ion unlimited has no revenues and no earnings, what can you do? the other stocks with a.i. in the name are more legitimate in that that he all have revenues. we've had c3.ai. they expect a 23% up year over year even as the losses have steadily grown. this came public in late 2020 and there's never been much interest in the stock until a few weeks ago. they announced a strategic

alliance with microsoft. the stock is now trading at 13 times sales, which is absurd for a company with only 23% revenue growth. again, excessive. the speculation, anything with a.i. in its name, has bled into the enterprise software space so innodata, described itself as a, quote, global data engineering company. yeah. and it has a.i. all over its website. it is actually profitable and multiple short sellers have targeted the company this year including one who alleges the mag seven relationships are vastly overstated. the stock is up huge, huge top and bottom beat. it spiked more than 75% in a single day. ♪ hallelujah ♪ >> even though the company also disclosed it's received subpoenas from the s.e.c. and justice third quarter. they say it's related to conduct

alleged in a shareholder lawsuit. i'm not going to pay for a stock subpoenaed by both the s.e.c. and justice department. i'm calling that fraud. shot up more than 50% like palantir holdings, and bill. they turned a profit. both reported strong numbers earlier in the month. bill holdings for 52 times and palantir 170 times. i love palantir. i'm calling it a tad excessive. i could go on. there's applied opto electronics with 143% return. they make optical equipment. there's canaan on chip design, chip research and development, production and socht wear services. that's kind of everything, right? and then xometry calls itself a, quote, leading global a.i. power

manufacturing. faro is a leader in 3d measurement, imageing solutions. avepoint is a global leader in data security governance and resilience, end quote. it's up 50%. and indie semiconductors is up more than 63% in november. five of those six companies i just mentioned are unprofitable. faro is another one that's been around for ages but investors only started caring about it the past month. signs of excess all over the place, people, especially in tech. and it's making me a tad nervous if only because some of the stocks simply have good names and almost nothing else. if it was just tech, well, believe me, i could handle it, but the excess is everywhere. so stick around after the break and i'll walk you through some more of them. "mad money" is back after the break.

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like i told you before the break, we're seeing areas of speculative excess all over this market, making me a little nervous. quantum computing, anything with a.i., the enterprise software space have all had absurd gains this month. they're just the tip of the iceberg. this dynamic goes way beyond traditional tech stocks. take the consumer financial technology space or fintech, robinhood, upstart holdings, aferm holdings, all up 60% for november. those are all high profile, there are some winners i never heard of. dave, david faber, i call him dave-dave, a digital banking act up 121%. how about sezzle, not sizzle. a buy now pay later challenger, 116% money line which calls itself a top consumer finance super app valued at 102%. now these moves are tough to definitively call bubbles.

robinhood upstart a firm all reported better than expected or better than feared quarters. i think there's some truth to the idea fintech will get a regulatory environment under trump. that makes sense, doesn't it? they're both expected to begin making money starting next year and robinhood solid profits right now. even dave sezzle and money line are expected to turn a profit this year. the only problem is their stocks have gotten very expensive, trades at 50 times earnings. i don't know if these valuations are justifiable. maybe the earnings will have a huge renaissance but let's say these are a heck of a lot higher than in october. maybe that's pause. that's pause for concern. beyond fintech, there's been huge rallies and anything with a tech sufficient fix, insuritech. lemonade up 115%.

uses tech to offer better car insurance rates up nearly 60%. hippo holdings, they love animal names. home insurance with a nearly 50% gain. i think these moves are totally excessive because all three companies are deeply unprofitable. lemonade is on track to lose more than $3 per share this year for heaven's sake. oh, here we go. and there's ad tech. helps mobile game developers grow and monetize their franchises and its stock goes up almost 90% this month. software that for advertising is up 60%. people love that. this is a grit case study of what we're really seeing. this was already hot before november. it's up now 700% year to date. they're solidly profitable, they report a strong quarter this month but was it strong enough to send the stock up 72% over

the course of the next two days? at these levels applovin a $106 billion company even though it's only generated more than $4 billion in sales over the past 12 months. to me that's excessive. maybe it's just excessive. what are other areas to be worried? friday night this discussion of excess in certain pockets with rocket lab usa, the stock that's up 117% for november at the time. we found several other space stocks that have screened higher in november, intuitive machines for space exploration, some of nasa's recent lunar missions. red wire says that it has, quote, valuable ip for in-space 3d printing and manufacturing, end quote. it has run 79%. global star offers low earth orbit satellite based communications like star link. satellite imaging and data insight services, the stock is

up 71%. the strength in the space stocks has extended to some other adjacent markets like drones and electrical vertical takeoff landing plays. red cat is a drone maker and the stock has more than tripled. archer aviation, one of the two best known takeoff names, jumped 137% for november. are these moves excessive? at the end of the day, this seems like irrational exuberance. not a single one is expected to make money this year. maybe they were too cheap in the previous month. i don't know. we've seen alternative energy plays pop on the list even though that's not exactly a priority for the incoming administration. bloom energy rallied 70% this month. provide energy for data centers. that's a great win for bloom

energy but doesn't justify the growth from $2.2 billion in market cap to almost 6 billion. speaking of energy, the nuclear power complex keeps roaring, the smaller riskier names. new scale power. they both fell below the 50% mark today but up more than 60% as of friday's close. that was the product of a spac four years ago. it was working on a hydrogen engine for a truck. more sustainable generators. no profits, no thank you. finally, some chinese companies are starting to pop up on our radar. most chinese stocks are down, which makes sense given president-elect trump's attitude, some specific stocks have soared. near the top of the list is king soft holdings, a chinese cloud software provider with 152% gain for the month. there was another company that's

uxin, the chinese carvana that we would have included before it fell 20% today. a company that appears to have -- i just pivoted. by the way, i'm skeptical of any company that total transforms its business model overnight. regular viewers know i'm not really much of a fan of chinese stocks aside from the true heavy hitters like alibaba but i bring the speculative ones up because we get the second largest chinese ipo when pony a.i. becomes public. it's seeked 4.5 billion valuation. it raised shares amid rumors uber would be buying into the deal. i have no edge on pony a.i. but the largest chinese ipo of the year, zeekr up $2 from its offer price of $21 for less than 10% gain. up nearly 15%.

you want autonomous driving, the much easier to follow and close to home tesla, which i like very much. you want pony? i happen to like, and this is my own analysis, pink pony club. "saturday night live," which is worth more than most of the companies i've described. bottom line. i'll cover the final group of november red hots. the trump trades. those are harder to figure out because the companies in question should generally benefit from the new administration even if their gains are excessive. stick around for the next store of bilge, please. grant? >> caller: good afternoon, king cramer. >> all right, how are you, grant? >> caller: i'm doing well, thank you. i just wanted to, first and foremost say it's a pleasure, you've made my family and i money and kept us entertained

for 19 plus years. >> thank you, grant. that's very kind of you. i wish your family happy thanksgiving. how can i help? >> caller: thank you. i thought my thesis was that taiwan semiconductor would benefit from the a.i. revolution, but i'm in the house of pain. buy, hold or sell? >> see, here's the problem. taiwan semi was up at 95 and now it's 185. it was at 95 last year, almost this exact same week. so taiwan semi is a great company. i would just hold on to it. we're seeing areas of speculative, that's why i'm doing these paces, an opportunity to take profits where you can and then if they come down, you're fine. that's all i'm looking for. much more "mad money" and where excess could be popping up with trump policy winners. then how should the fed be shaping your moves this market?

breaking down the don't fight the fed mentally and all your calls rapid firelight nipping style. stay with cramer. see, every buy and sell decision for the portfolio -- >> i could never have duplicated that information on my own. >> join the club at cnbc.com/clubblackfriday.

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♪ tonight half the show to calling out some areas of excess in the market, areas of irrational exuberance that concern me. we've seen multiple groups make extreme moves to the upside, quantum computing, anything with a.i., some parts of enterprise, fintech, ad tech not to mention the space, speculative chinese stocks, on and on. a couple more groups have had

huge gains. they are maybe much easier to justify, the trump trades, companies that should benefit enormously from the republican trifecta in washington. the two big private prison operators have rallied 85 and 59% since the beginning of november. these tend to be winners whenever the gop is in power, but they're rallying particularly hard because trump ran on an agenda of mass deportations. geo group from the 2016 election trump's election day in 2017 but spent most of the next four years going lower. my view will heity mat thesis here but the gains are so extreme i worry they're running out of upside. a handful of smallish oil stocks have popped. one of the few things we know about president-elect trump's economic agenda, wants our country to produce more oil than it's doing. scott bessent has advocated for

3 million barrels per day. feels like an oil exec drill baby drill obvious good news for the service plays. even if it might hurt because the producers will be putting a lot of downward pressure on oil and gas prices. that's what happened in 2016. slb, halliburton and baker hughes are all up big for november, smaller operators landed on our list of the hottest stocks, so where is energy infrastructure, specialized in power generation systems and managing raw materials. the stock jumped 73%. water management, recycling supply solutions to fractioners in the permian basin. in november chart industries makes highly engineered equipment used in the energy

production process. big moves there. i can't say they're unreasonable. these are three very profitable businesses. they're about to face a much more benign regulatory environment. what else? here is a tough one. fannie mae and freddie mac on hopes trump will release these companies. i don't know if you remember them from the great recession. oh, boy, they were front and center. i don't want to get too deep in the weeds. it's a complex situation. but, in general, it makes sense for them to rally on this republican sweep. there are plenty of one-off trump trades like tesla, up 35% for november thanks to elon musk's special relationship with the president-elect. of course if musk stars getings on trump's nerves, you could see a serious pullback. i would be a buyer. how about natural groceries by

vitamin cottage, the appointment of rfk jr. as secretary of health and human services. he has nutty views on vaccine, critical of big pharma but is a health food nut. a little known natural groc are. sprouts has only run up 15% month to date and is part of the same theme. sprouts was already doing great on its own before the election because it's a high-quality operator that i like very much. finally, there's the big one, and you know what that is, bitcoin. it has climbed from just under 70,000 as of election night to a shade under 100,000 on friday before pulling back to below 95,000 today. that rally has taken the whole cryptocurrency, 57%, coinbase up 74%. obviously the gains in crypto, especially the bitcoin ecosystem

seem excessive. they aren't without reason. we're going from a biden re yem that was antagonistic to a second trump administration that promises to be incredibly crypto friendly. what should that be worth to the bitcoin-related stocks? they have tried to rein in crypto, the other forms of crypto seem to have been left aside. you are going to see hoarding of bitcoin and it's going to work in favor of the hoard ers. plus, let's accept the owning of actual bitcoin or an etf that tracks it as a nice hedge, turning on the printing presses to pay for the deficit. by the way, buying some ethereum has fallen badly behind bitcoin. i'm a believer but these are hedges for me. be ready for the breakdown no one thinks can come.

what's the takeaway from all these excessive moves i've been following? first, i certainly don't love seeing so much excess in the market. i did my best tonight not to get too specific with the red hots. other gains may be justified. most probably not. that said, i'm not trying to separate the weed from the chaf tonight. i want you to know there's an insane amount of undisciplined buying in this market from people who seem to have no sensitivity to prices or valuation and that does concern meit makes me think we could be closer to a top, at least in this kind of company, even if it's a short-term top, than we are to the beginning of the move. i don't want to come off as a scold. i'm generally encouraging speculation. probably the only person on tv who is. i am in favor but you have to be smart about it and only do it with money -- 20% of your individual stock, no more than that, please. when you have so many enormous

gains you can't keep going all in. you have to ring the register and take something off the table. call me a prudent speculator. as i see it with the holiday week that's just begun. if you had the good fortune to participate in these seemingly excessive moves, give thanks to your gains and that means taking profits if you're sitting on a huge win, anything like a double or triple in just over three weeks' time. it doesn't mean you have to sell your entire position, not at all. trust me when i say these types of runs are highly unusual. take what's been given to you, say thanks for your gains and do it for me. we will all feel bet wer money in the bank. if you can take out your cost basis, do so and let the rest run. you'll never turn a profit into a loss that way if you take the initial capital off the table. "mad money" is back after the break.

>> announcer: coming up, cramer takes your calls and the sky's the limit. it's a fast firelight inning round next. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities.

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♪ it is time! the lightning round. buy, buy, buy, sell, sell, sell. play the sound. and then the lightning round is over. are you ready? with brian from rhode island. brian? >> caller: hey, jim, i realized i've been watching you for hatch of my life, 19 years.

i love the show. i love how you're straight to the point. no sugar-coating. it's a beautiful thing. sym? >> this is a.i. robotics. this company does make money and, therefore, i am going to bless it as a buy. to steve in colorado. steve? >> caller: ba-ba-buya, jim. thank you for taking my call and helping us small investors. >> i'm a small investor, too, how can i help? >> caller: a shoutout to my sister in escondido, california. she turned me on to this show in 2007. she said it was by a crazy guy who talks stocks all the time. >> well, there you go. >> caller: i've been a faithful

listener. >> tell savannah, thank you. thank you very much. let's make some money together right now right here. >> caller: hey, i have a stock i want to talk about, it's made me a lot of money. i've owned it since 2007. >> okay. >> caller: i sold out my position a few months ago. i'm getting older and was looking for dividend stocks. but i noticed that this stock went down 22% overnight and i listened to the conference call like you advise us to do. is tetra tech? >> it does management consulting and, yes, it reported a weak quarter at same time that doge, that musk and ramasw what happened. i want to thank you for the kind comments. i will also tell you, i didn't think the quarter was that bad.

i am inclined to buy not sell ttek. to joe in virginia. joe? >> caller: hello, jim, thanks for taking my call from virginia's second largest city, chesapeake. i have linde, all dividends reinvested. what is your highly respected opinion of this stock? >> okay it's at 455 and it would not surprise me if the stock went to 500. it is not a speculative stock. it is a very good company and that actually is held against it. a very good company, should not be left by the wayside. linde is a terrific company. how about to jim in washington. jim? >> caller: dr. cramer! thank you for taking my call. thank you for making my day. >> of course. >> caller: thank you for all the help. >> i'll do my best. >> caller: i'm a longtime listener, first-time caller, charter club member and i want

you to know i'm wearing a t-shirt my wife bought me, are you ready to make some mad money? >> oh, man, vintage ebay. what's up? >> caller: brookfield corporation. >> this stock has been pretty much straight up. it's not done. this is a very smart asset management company. i am jealous of how smart they are and how little publicity they get. that's the conclusion of the lightning round! >> announcer: the lightning round is sponsored by charles schwab.

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get invested. join the club. >> your club is a masters class and i thank you for this. >> you're an educator, a mentor and very entertaining. >> join the club with jim's best deal of the year at cnbc.com/clubblackfriday. terms and restrictions apply. you would be sick and tired of hearing it but it needs to be said. when the fed gives you a rate cutting cycle, you have to suspend your critical faculties, hold your nose and just -- buy, buy, buy. the fed is your friend and trusting your friend is a good bet.

consider the case of home depot. i reported the quarter was okay, nothing to write home about. long-term interest rates looked like they were headed higher, ten-year from 2.45 from 4.3. even though the fed was cutting rates, it looked like it wasn't that much of an impact on the stock market. i had faith long rates would come back down like today. i learned from the best. when i first got into investing in law school i would watch this fabulous friday night show on pbs. time would just stop for me. let everyone else go blow some steam off. i would sit in front of my black and white tv and learn. each week lou would have a special guest, often a person who was from wall street who knew a great deal about a group of stocks, which i later learned were people from research departments in brokerages. the real star was marty, a

professor who, when he spoke, even as a panelist, ever so briefly, i would scream at anyone saying shut the heck up, marty's talking. i loved marty's simplicity. don't fight the tape. when stocks are going higher, buy them. when stocks are going lower, sell them. and don't fight the fed. this was a phrase that mystified me. how could you fight the fed? how could you befriend the fed? what does it mean to be the fed's bud? when the fed is trying to reignite the economy, you need to get onboard, find stocks to buy and buy now even if you didn't like them. you have to be thinking of the future. marty, who passed away a long time ago, would tell you near-term gyrations do not count if longer term rates went higher as the fed started cutting rates like this time. he would say, that couldn't last. the fed is too powerful. if you get a chance to do some buying because things seem weaker, you have to hold your nose and pull the trigger! don't be misled by the action,

just trust your buddy pal friend, the federal reserve. we've been buying home depot and sellers amass stocks and hitting any bids there was including mine. i didn't care. i was on with the market history. don't fight the tape and don't fight the fed gives you the confidence to buy when everyone else is selling. lower short-term rates, to repair and remodel, cuts in short rates, you will see longer rates coming down, too. so it doesn't matter what home depot says, only what the fed does. today, by the way, the stock rallied $8 and change and hit a new high. that's how you get a stanley black & decker, management wasn't all that bullish about business about the stock has been running big since then. the fed can't be beat. some of the gains came because

the treasury secretary designate could give both companies more time to adopt to a costly adjustment. what really matters is when the fed wants the housing market to come back to life, we have the least turnover in 30 years. it's coming back to life whether it wants to or not. something for all you bears out there to think about. always a bull market somewhere. just for you here on "mad money." i'm jim cramer. see you tomorrow. purpose? we are at that hockey stick moment of our business. what are your sales? we are on track for $6 million. ay, ya, ya. arriba! the opportunities are big as the sea is deep. dang. if you're gonna consider offers like that, then i'm gonna make you an offer. whoa! what the french toast? how much pain are you willing to take? you can make up your opinion, but you cannot make up your own facts. there's nobody in except me, alright? [ sad horns play ] [ laughter ]