i'm jim cramer and welcome to my world. >> you need to get in the game! >> firms are going to go out of business and he's nuts! they're nuts! they know nothing! >> i always like to say there's a bull market somewhere. >> "mad money," you can't afford to miss it! hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to save you money. my job is not just to entertain but i'm trying to teach and coach through a very difficult market. call me at 1-800-743-cnbc. tonight i'm kicking off the show with a bold but unfortunately completely and utterly irrelevant statement. we'd be at new highs for the year, new highs! perhaps even all-time highs! if it weren't for the drag of europe.

yeah, for a while there this market showed you what it could be like today, rallying all day off lack of european news. only to collapse at the end of the session. why? for fear that tomorrow's gigantic, it is gigantic, european pow wow will end up being just one more can kicking exercise by europe's leaders in a game that's become more financially lethal worldwide the longer it goes on. dow ended up giving up 1.5, s&p gaining .5%. nasdaq losing .29%. if europe just dropped off the map tomorrow instead of being in our face with some negative greece news near the end of the session, we would be much higher given all the good news here at home. of course, europe exists. later in the show i'm going to explain what it needs to do in tomorrow's summit in order to turn around. certainly that must happen soon or they'll face a recession so severe.

europe is so bad, so toxic, so scary, i'm staying at defcon two. but look, for the last two days we've seen a confluence of events that would make me so incredibly bullish -- that's right, i would be so bullish instead of circumspect if it weren't for europe that i just have to -- forgive me for doing this, but do you mind if i just run down some good things? how good things really are here? first, housing. today we got these numbers, came out at 10:00, took my breath away, the april existing home sales. quite frankly, they were astonishing. it was the biggest jump in median home prices in years. it wasn't just that the numbers rose for still one more month or the improvement in sales and prices are broad based spanning the whole country. true. it's the incredible makeup of the numbers that has to be talked about. five years ago the housing hurricane struck our country and

there were four epicenters laid to waste, miami, florida, naples, florida, phoenix, arizona and orange county, california. these markets had been steaming red hot. they were smoking. they were, yes, indeed, sizzling with individuals taking advantage of cheap financing from undiscerning and often corrupt subprime lenders to buy three, four, five, six, ten homes sometimes. then flip the home to desperate home buyers. knowing the returns would be staggering. the value of homes was going up so quickly many just couldn't resist trading homes just like stocks. then just as quickly the home builders saturated these areas, the federal reserve jacked up rates so the flippers got hammered and the tremendous housing boom turned into a bust. now i'm going to read you a quote from the release of the national association of realtors today. quote, a diminishing share of foreclosed property sales is helping home values. moreover, the release continues,

an acute shortage of inventory in certain markets is leading to multiple buildings and escalating price conditions with, are you ready? tight supply in miami, naples, phoenix and orange county. okay, north dakota got mentioned, too, but that's because of the balkan shale. and washington, d.c., and government hiring and the lobby lobbyist community never takes a housing vacation. nothing speaks more strongly of a turn than when the single most hard-hit areas are not only back but in incredible demand. i want you to think about the implications about the good news that can occur from this. first, the glut of unsold homes has to be purchase, right? do you get that? second, the inventory of foreclosed homes has to be whittled down to nothing to get the tight supply. third, jobs have to be coming back in the decimated areas to the point where there can be home buyer who is can get home mortgages. fourth, the homes need to be affordable enough and the prospects of increase in price need to be so evident sideline

buyers step up to the plate. and the buyers need to believe they can commute without spending an arm and leg on gasoline and finally, the banking system needs to allow people to get credit so they can buy. amazingly, think about that litany. do you know that all of those positives are now in place, obscured by greece and spain and italy and portugal and ireland and france and germany? obscured this remarkable turn. and they're the reasons why we'd be screaming toward all time highs if it were not for europe. i want you to think about this. first, if the flut of unsold homes is now gone, at long last we need to build new homes. 10% of american economy that's been stalled could come right back. now, it's taking off shareholders of lennar and toll brothers. they certainly know that. if foreclosures are dwindling, doesn't that have to be fabulous news for the home saddled banks? isn't that where foreclosed homes are residing? people aren't buying the banks because of europe. mainly jpmorgan.

they are guilty until proven innocent and etfs control the sector. third, you can't buy a home without having a steady job, they won't give you a loan. so while the employment numbers are still punkish, you got to believe things are getting stronger. fourth, the affordability of homes comes in part from the incredibly low rates that the fed is still stoking. the treasury yields less than half of all the s&p stocks, as long as rates stay that low, you need to buy some dividends in your portfolio. creating tremendous demand for the higher yielders like con ed. the other reason for the affordability, raw costs of building homes have come down because of sudden commodity deflation to terrific for commodity consumers. so home builders don't have to charge that much to make the same amount or more money. fifth, home buyers are worrying less about the commute because gasoline prices are coming down

and they're less worried about the cost of heating their new homes since most new homes are heated by natural gas, which despite a recent bounce remains incredibly cheap. that gives people more money to spend at bed, bath and beyond, or williams sonoma or home depot. newly reported companies i think are doing great. i reiterate that home depot was much better than the market perceived. it was not a bad quarter. where are people spending? how about 100 million people going to walmart, which hit a 52-week high today. domestic. despite the investigation into the alleged mexican bribery scandal. plus commuters either buy or sell cars. needless to say building cars is like building homes, labor intensive, and that creates a virtuous cycle of more and more hiring. these are huge changes on the home front. but they're not the only reason we'd be going to new highs. the market's in remarkably

oversold condition, the worst it's been since the bottom of 2011. before that phenomenal rise. and we have an election coming up that's now in our sights between a president who, opinions aside, hasn't hurt the stock market, at least em empirically given the terrific rally we've had since he took office and one very successful businessman. granted mitt romney was known in the business world as an incredibly successful cost cutting rationalizer, that's what he was famous for in the business world, certainly that may not be conducive to creating new jobs to say the least. but he's obviously pro stock market and favors the lowest possible rates for capital gains and dividends. two ways to win. let's throw in two more stock issues. despite the hideous accident of facebook, it is hideous, i've been all over that like a cheap suit. in the last 24 hours two important mergers. s.a.p. bought ariba. that's an innocent survivor from

the dot com era. here's the bottom line. europe, be all and end all. europe is the be all and end all of this market. i know the averages took a header at the end of the day because of fears europe would again do the wrong thing at this the most important meeting of the year tomorrow. it's important now and then at least to recognize if europe didn't matter, we'd be so much higher than we are right now. sadly, it does matter. which is why we should stay local, focus on domestic security for as much as your portfolio as possible. let's go to cecil in pennsylvania. >> caller: hey, what's going on. how are you? this is cecil from drexel university. oh, man, drexel! >> caller: it is a fantastic school. >> with amc entertainment's recent acquisition by the wander group for $2.6 billion, could

this acquisition be a catalyst for other strong theater names like cnk to be purchased? >> here's the problem. i find this -- you'll know this at drexel. as is often the case, that's exactly what has happened already. people knew this, they bid the stock up. i now feel like we're a day late and a dollar short. i'm not going to bless that trade until it comes down. hey. other people knew it and it's reflected in the stock. patrick in wisconsin. every day we have wisconsin. i love it. patrick. >> caller: how about cbrl group, the old fashioned cracker barrel outfit. they're on the nasdaq and i held them forever and ever and ever. i think there's movement yet. what would you put the selling price at? >> cracker barrel hit a 52-week high today. i am a big cracker barrel fan. i like my cracker barrel. when i go out on 78, it's absolutely terrific. that's a road. here's the thing you need to know about cracker barrel that is so exciting to me.

i talk about auto zone being a good buyback. down today but the stock's been up a lot. the cracker barrel buyback has been extraordinary overtime so it's left us very little stock. i think the stock can go higher still. let's go to mohamed in illinois. please, mohammed. >> caller: booyah mr. jim cramer. >> booyah. >> caller: i want to thank you and your team for what you guys are doing for us. >> thank you. >> caller: i just want to know about google's prospect of every time it gets closer to mmi, the stock drops. >> look, you know, you close that deal, i thought that was very positive. my colleague david faber knows far more about that deal than i do. i defer to him. he had some great comments this morning on "squawk on the street." pick up the paper. europe's going after them with anti-trust. i know paul weis has been hired by the ftc to go after them with anti-trust. antitrust can bring down a stock over time. remember what happened to microsoft in the '90s. be careful out there. think globally but invest locally, please. i know europe matters.

it's kind of like i was going to be in a science fiction movie where we just thought about united states and how fabulous united states is doing. "mad money" will be right back. coming up, about face? with all eyes on facebook and potential profitability, one company is leading the charge in marketing and ads for all things social. can exact target hit the bulls eye for you? don't miss cramer's exclusive with the company's ceo next. and later, mac daddy? after throwing back from its all-time highs, is it time to take a bite of apple again? or has it lost its magic touch? cramer's going off the charts to find out. plus, power play? in a market dominated by international concerns, cramer's playing defense by going domestic. tonight this company keeps the lights on in the city that never sleeps, but can it electrify your portfolio?

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i have to ask you, please do not let the performance of the botched facebook ipo fool you. all right? because there's still a huge transformation happening in the world of advertising. it's a massive migration of ad dollars away from traditional media. talking about print, radio and to some degree tv. the kind of advertising that would have been at home on an episode of "mad men." and toward the internet with a big emphasis on social media and mobile. change is real. and it will not be stopped no matter how much the stock of facebook gets hammered, and it's going to continue to get hammered. tonight we'll get to know an ipo that may have been lost in this facebook frenzy. i'm talking about exact target. it provides its customers with all the tools they need for marketing via e-mail. believe me, they don't know how to do it without these guys. by the end of the year exact target should be the top player in the e-mail marketing space. this is a crowded field with many competitors. while e-mail is one of the most

effective ways for companies to connect with their customers exact target is seeing the future and it is social. that's why the company had social and mobile applications to help clients make the best use of new media. exact target popped when it became public on march 21st. shooting up on the first day of trading. today it got slammed, falling $1.31 or 5.7%. i think that's again because of facebook. a whole group tainted, even the ones that shouldn't be. exact target is pricey. no profits yet. definitely speculative. its first quarter as a public company was excellent. revenues rose 45.7% year over year, better than expected guidance. let's check in with scott dorsey, the ceo, chairman and co-founder of exact target. i know this man. to learn more about his company and the advertising revolution. welcome to "mad money." >> thank you.

>> in full disclosure, i'm on the board of the street and online and we use you. i think i should just say that. >> thank you for your business. >> that's how i know. if i don't disclose that i feel like i'm doing the viewers a disservice. but let's talk about a larger entity than the street. i want people to understand exactly what you do. i am travelocity mentioned as one of your clients. i hire exact target, what do i get? >> sure. >> sure. you get to leverage our software platform which helps organizations like travelocity really gain great insights into their customers. through those permissions and all the insights they know about their consumers they're able to use your platform to communicate across the channels their customers use most. e-mail, mobile, social networks like twitter and facebook and also the web. we bring that profile together. single view of the consumer. then organizations like travelocity can leverage all our targets, e-mail, mobile and social networks to drive communications. >> do i know i'm on an exact target platform when i'm using travelocity? >> you don't. we're behind the scenes,

business-to-business software is the service platform. it's great for consumers because the content they receive from clients is highly targeted and relevant to their interests. >> now, what excites me about exact target, we are huge believers on this show because we're growth oriented, try to get a combination dividend and growth, we always say you've got to look at the total addressable market. where it is now versus where it will be for you in five years. exact target may have the largest growing addressable market of any company i follow. why is that? >> we're incredibly well positioned. at the intersection of many powerful friends. the growing adoption of software as a service. the explosive growth of e-mail, mobile and social. also the emergence of the hyperconnected consumer that's hungry for relevant content 24/7. >> you have a subscription based model, which means it's a little more sturdy. than an -- >> that's right. the beauty of the software is the service models.

highly predictable and recurring revenue. q1 was our 45th consecutive quarter of revenue growth. our performance over time while high growth has been very steady and very consistent. >> but you are managing for operating cash flow. >> absolutely. q1 was outstanding, a 45% year over year growth and positive adjusted ebidta and cash flow. we have nice mix of high growth. we'll continue to invest in r & d and building sales capacity and international expansion. we believe we can do so while still continues to show operating leverage. >> to me it seemed like there were questions on the conference call that looked like that you're not going to have to hire as many people going forward. the operating cash flow could turn into actual earnings per share in a relatively short period of time. >> if we wanted to. and also we're mindful of the big market opportunities you referenced. forester estimates this will be a $16 billion market by 2016. we want to make sure we continue to accelerate investment, capitalize on the big growth opportunity. >> we have to talk about the elephant in the room. last week general motors said it didn't want to use facebook.

a lot of reasons we're hearing have to do with the fact that mobile, people aren't interested in mobile. you talked about mobile, social, cloud. it's pretty clear that maybe gm doesn't get it because some other people do. >> you know, we really look at mobile, social and even e-mail as engagement and driving interaction and driving those relationships with your customers. the more you can learn about what your customers are interested in, the more relevant those communications can be. that's really where we focus. all around managing that point of interaction and managing the engagement. >> facebook. >> we actually are close partners with facebook. we're a part of the facebook marketing developer program, we're building tools that help organizations leverage facebook. actually in two ways. one is publishing facebook pages to drive engagement. also moderating walls and moderating all the conversations that are happening on social networks like facebook and twitter. >> do you think that gm is misplaced? >> there's no question gm came out publicly and said it's important for them to have a presence on facebook and be able

to engage with their clients on facebook, and we see that happening all over the place. with nearly a billion users, facebook is the place to be. however, organizations need to make sure they're having a consistent, seamless conversation with their clients across all social networks and channels like mobile and e-mail. that's really the value our platform delivers. >> every morning i get pushed an e-mail from groupon. they're a powerful force for you, but i have to think a groupon, like an amazon, they'll figure this out and do it themselves. >> they're an outstanding organization to work with. we're an important part of their technology ecosystem. we expect that to continue over time. what we do is very, very difficult. it's bringing data together in very unique ways. in many cases for marketers we're the only point of aggregation where they're bringing e-commerce, point of sale, web analytics, all together in one home where they can segment that data and power rules driven, highly complex, highly complex data.

we've been building that technology for ten years. it's very special and very unique. >> this is a story i know and a company i found it uses. i want you to check it out. everything is very uncertain in tech right now. the symbol is et. there are two very recent transcripts you can use if you want to learn more. i want to thank scott dorsey, chairman, ceo of exact target. stick with cramer. coming up, mac daddy? after pulling back from its all-time highs is it time to take a bite of apple again or has it lost its magic touch? cramer's going off the charts to find out. ♪ so every year my family throws this great reunion in austin. but this year, i can only afford one trip and i've always wanted to learn how to surf. austin's great -- just not for surfing. so i checked out hotwire. and by booking with them, i saved enough to swing both trips. see, hotwire checks the competition's rates every day

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taking my life in my hands here. forget facebook. forget it. the most important stock in this market will be if facebook ever bottoms, apple! and that could be a very good thing, even though apple gave up the ghost this afternoon in the rest of the market with a european inspired decline. in some way the stock market is like an army. markets need leadership in order to advance. they follow the general like the soldiers do. the better the general, the more likely you are to triumph over the enemy. with a sustained rally. by the same token, when our best generals get taken out and shot, panic takes over and the rest of the market tends to retreat

hastily to lower levels. i got to tell you, yesterday it was a little heartening to see apple, best general we have, back in command after being pummeled, perhaps even demoted by 100 points. apple led the charge. put on 31 points in a single session. remember that? seems like months ago. when apple's powering higher, creates good feelings, boosts the morale not just for tech but the entire market. it was just one day. the question we need to ask now is whether apple can continue to rally. especially after today's sickening late day reversal off of europe. i'm sure facebook had something to do with it. that's why tonight we're going off the charts with the help of not one, but two different people. two brilliant technicians. so important. scott radler and carolyn broden. two smart chartists who both believe apple has bottomed.

i'm trying to get a little sunshine on a really cloudy day. redler has real street cred when it comes to apple. he told the street to sell back in april before it got pounded into oblivion. good call. he was right on the way down. the same charts telling him to go negative, they're telling him to switch directions and go positive. to understand why redler thinks it be can be ready to roar. we need to know what told him to call the top in april. take a look at this chart from december through the first full week of april. at the same time the stock had been rallying like crazy for months, ever since the company reported a blow out quarter back on january 25th, blowout quarter, apple was practically living on the new high list. analysts kept trying to one up each other with the ever higher price targets. so pre-facebook. saying the stock was headed to 800 or even 1,000. redler saw a red flag.

on april 10th apple put in an outside day. we don't like to be outside. that's one of the highest, higher than the previous day, but the low is lower. that is a classic technical sell signal. we blew this up so you can see. yeah. apple surged to 644 and then closed near its low at 626 which was lower than the previous day. that was the first warning for redler. also happened to be the day apple peaked. that was a hideous day. how about the next sell signal? let's go to the next chart. see how this happened in real time. this goes through the first three weeks of april. after the outside day, okay, apple traded badly for three days in a row, all right? that might not have been so bad in and of itself but at the same time, the s&p was rebounding

hard. while this stock was trading badly after the outside day, the s&p was going higher, there was a rally, and apple failed to participate. that's the moment where redler saw apple forfeit its position as the leader. obviously if there's a rally going on without it, it's not a leader. he wrote a note that said the stock is ready for correction. he urged them to trade it as long at it stayed below 620. below that blue line. sure enough. apple dropped like a rock falling to 555 in the next two weeks. again, that's after that horrible outside day where it was higher but finished lower than the previous day. take a look at the next chart. it shows you the power of the technicals. apple came out with still another spectacular quarter and the stock gapped up, right back to 618. okay? right to 618 on april 25th. but unlike the previous quarter, which led to a phenomenal rally, this time the gap didn't hold. apple swiftly broke again. still one more sell signal for redler. since then the stock, let's just call it a house of pain. now redler believes the pain has come to an end.

take a gander at his last chart. after so many signals to sell, redler says he saw a buy signal last friday when apple held its 100-day moving average. a medium term measure of the stock's trajectory. it did so on gigantic volume, by the way. that put a floor under the stock. yesterday apple rallied like crazy. really because it hit this level, okay? that's what happened. the technicals totally in charge here. where can it go from here? if apple can break out over the ceiling of resistance, 570 to 575, about 13 to 18 points above where it is now then the down chain will be broken and apple to move much higher. first apple has to break through the key level. of course, the problem is if it doesn't, then obviously he can change his mind. that's what he's looking for. redler is not alone in thinking this way.

carolyn arrived at a very similar conclusion, using a different chart based methodology. i love this. i told you the charts are in charge because the charts are converging. check out this chart of apple going all the way back to 2007. broden's thesis is that declines often mirror each other in terms of size. if you look at the last two big declines in apple back to 2008, the stock fell 124 points and 114 points respectively. the two biggest absolute declines in apple since 1992. they matter to broden. based on this principle broden believes the latest decline should be about equal to those in absolute terms. i got to tell you, this stuff amazes me. it works so often it's worth considering. sure enough. broden's measured mood technique suggests apple should bottom using these as the watch work. apple made an intra day low. 522. 121 point decline, almost the same size as the last two big

selloffs. it's like the average of them. since then the stock hasn't looked bad. apple has now rallied 35 points from broden's measured move bottom. where does she see it going? take a look at this chart going back to february. okay? using the same technique but this time measuring the size of the rallies not the declines, apple's last three moves since early april were for 46 points, 48 points and 63 points. based on these numbers broden would expect apple's rally to peter out around 570. a level it broke through earlier today before pulling back. or between 581 and 585. if the stock can reverse the late day down trend which was a real wall it hit, and if it can breakthrough the ceilings of resistance, broden thinks apple could reach new highs possibly rallying to 677. first, though, she needs to see that breakout just like redler. do you know what kind of resistance there's going to be. it has to break out above 570,

575. if it can take out here both red ler and baroden think it's off to the races. hey, i'm a fundamentalist. this stuff, i can't believe how it works. because it did work. but i'm a fundamentalist. i think apple's a terrific company. certainly a cheap stock. especially compared to the newly minted facebook. i like apple. not facebook! the bottom line, i may not agree with -- facebook! i may not agree with the details but the crucial point is charts as interpreted by both are no longer going against apple. if it can rally just a few more points up from here, the charts would become extremely bullish. that's a nice change from the most important stock in the market. it might be a tent pole for an advance if europe, just for once, does the right thing. stay with cramer.

it is time for the lightning round! and then the lightning round is over. are you ready? skeedaddy. time for the lightning round! start with dennis in ohio. >> caller: a big buckeye booyah from youngstown, ohio. >> man, you're in the oil and

gas boom with the utica. how can i help? >> caller: thanks for taking my call. i got your book and subscribed. i watch you regularly. i've had -- i've learned a lot and i've had nothing but success in my portfolio. >> that's terrific. thank you very much. how can i help? >> i'm talking about fcx, freeport -- >> i cannot tell you how torn i am. here we are. as you know i had to sell -- travel trust. it subsequently went much lower. it is almost at 4%. that normally would hold it but we need to see some signs of growth around the world. so right now i think the stock takes out 30. let's go to steve in iowa. steve! >> caller: jim, this is steve. booyah. first time caller, long-time listener. >> good to have you on the show. >> my stock is lyb. >> upgraded yesterday. yields 4%. dow chemical yields 4.4%. that's not enough to stop it. i am on the fence.

let's go to wes in washington, d.c. wes? >> caller: jim, first time booyah from d.c. quick question for you. as a mid-20s investor i have mid to long-term outlook and a pretty hot risk appetite. i'm looking for a european growth stock. i know you hate them. i'm looking at mechal. >> no, we don't go russia. we have enough problems. lee in illinois. lee. >> caller: jim, i'd appreciate your advice on krispy kreme donuts. it's been on a roller coaster. >> i got dunkin donuts. it's the one to buy. terry in texas, terry! >> ting and company. ticker tkr. a wild ride. what do you think about it from this point forward. >> timken is a fabulous company. it's a ball bearing company. i think it's terrific. i want to own it. i got to tell you, industrial

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as long as this market remains hostage to the troubles in europe, and it is as we know from the critical horrible reversal at the end of the day, the way to protect your portfolio is with stocks that we say are domestic security stocks. they give you domestic security. that's my name for all american companies with no oversea

exposure. sure you have to invest like an isolationist. in this environment what could be better than a domestic security play with a business as consistent as it gets and a bountiful dividends. one of my early faves since the show began. consolidated edison. con ed for short. it provides many customers in new york city and its customers with electricity and energy. companies focus on transmission and distribution. not power generation. no reason for the epa to crack down on them like so many of the unfortunate utilities you know i like but are in trouble. plus nyc is one place where residential construction is still happening, expected to climb to record levels next year above 2007. which means a lot new electric customers for con ed. growth, growth in yield. and if you're a fan of dividends like you know i am, con ed is boosting its payoff for the last 38 consecutive years, the only utility in the s&p 500 with 30 or more consecutive years of dividend boost. the only one. this is exactly the kind of stock that works in this troubled market, hence why con ed has given us 11% gain since the last time we spoke with the ceo just in july. i'm thrilled to have kevin burke chairman and ceo of consolidated edison here with us tonight to

talk about his company's prospects and domestic security. welcome back to "mad money." thank you, kevin. >> we got news yesterday, i said i'm so glad i've got you. a ferk approved the specter pipeline. i think people don't realize how forefront you are on the natural gas. >> i think it's great and it's great that spectrum got that approval. we've been working with them. great company, they're going to bring a line from staten island into manhattan. it's been at least ten years since we've gotten a new line into manhattan. this is so important to us. >> why is it so important? isn't natural gas all over the place? >> there's natural gas all over the place. as you know, the price is down. customers are switching to natural gas for a couple of reasons. one, the city has said we don't want people burning as much dirty oil. number six oil and number four oil is a lot dirtier. that's what you see at the top of the chimneys. >> and trucks that block the street. >> and the trucks that block the street. the equivalent of getting the

buildings in our service area, 7,000 buildings, if they would all convert, some have to go in the next couple years, others a longer period of time, if they all converted we would see our distribution peak for gas by 50%. >> that would be huge for your profits. >> that would be huge. we would have to invest a lot in our distribution system to be able to deliver that gas to the customers. >> this is gas coming from marcellus. >> a lot of it is coming from marcellus. it'll come from other places. but a lot is coming from the marcellus. we now get about 25% of our gas from the marcellus. >> that's incredible. >> that change has happened just in the last couple of years. >> i know you guys don't build giant power plants, but there's a lot of people i know in spectra, a lot of people get employed when you build a pipeline. >> a lot of people get employed, i think they were forecasting about 5,000 jobs. but the other thing it's going to do in the city new york, it's going to increase the reliability of the gas supply to new york city and allow to us be able to deliver more gas to these buildings that are right now burning a pretty dirty oil. it's going to clean up the air. the city has projected it's the equivalent of getting all of the trucks and cars off the city treats.

>> really? just if we did this? >> just the 7,000 buildings. >> this is nat gas. the nat gas cleaner than dirty fuel. let me ask you something. what incentives -- how do you prove to one of these 7,000 buildings they ought to switch to nat gas? >> the price. the price of natural gas has dropped so much in the last couple years. when people look forward, they see how much gas is in the ground, it's going to be coming out, the price is going to stay down. the price of oil has been running up. it comes down for a little bit but shoots right back up again. people are looking at that. when they look at the cost of conversion, we've seen a lot of people convert, including people who are burning number two oil, the oil that people burn in their homes which is sort of the much cleaner oil than number six. just with the price difference we've seen a lot of those people switching over to natural gas. >> the only thing they focus on is the rate agreement that ends on march 31st. 2013. i know regulation is important but the fundamental change you're talking about would boost

earnings more than any rate case. >> the fundamental changes, we look at growth clearly in natural gas is where we see the biggest growth. but even on the electric side. in new york city the population is up. the number of people employed is up higher than it was prior to the recession. there was just a report out that the office space that's been occupied is now at a record -- since we go back to 2000. when people are looking for where do you see the change in the economy, i think we've seen the change behind the building permits for the first quarter of this year are up about 50% over last year. >> 50%? >> over the first quarter of last year. and if you go back to the prior years, up 90%. >> that's extraordinary. >> so we're seeing the turn around in the city. >> let me just ask you, is there a growth area that's faster than new york city in this country? >> i don't think so. >> we're the number one growth area in this country. >> we are growing. jobs are coming. the mayor has done a great job bringing cornell, working with nyu, poly tech, bringing

engineering schools. jobs in the city. what's going to happen? five, ten years down the road those people are going to be starting new companies. >> right. new york city, we have dominion on. they have very low cost for power. they have a lot of the server forums. is new york city getting its fair share in data in server forms. >> more than their fair share. one building, that's the equivalent of a town with thousands of homes. that's a city. >> so, therefore, if i have to worry about -- the one thing i should not be worried about is that the dividend can continue to go higher given the growth story you have to tell? >> we're seeing a lot of growth. a lot of growth. and server farms use a lot of electricity. there's one a couple of miles from here we serve a transmission line voltage. not distribution line voltage. it's so big. >> this has been my favorite

utility since we started the show and now you see why. it's a growth area utility. it doesn't get better than that. i want to thank you for coming on our show and explaining this is what you can own. you don't want it in france, greece, spain, germany? no. consolidated edison. stay with cramer. what if you had up to 28 days of beautiful ? you can have up to 28 days of beautiful, smooth skin, with veet wax strips. veet hair coating technology removes hair as short as 1.5 millimeters... ... and leaves your skin smooth for up to 4 weeks. try getting that with a razor. with veet you'll always be putting your best skin forward. veet. what beauty feels like. also try new veet high precision facial wax for salon-quality smoothness that lasts.

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any good solutions to the problems facing europe but believe it or not, there are a series of reasonable, not too bad ones that could eliminate the pressure on the continent. they just can't be agreed to with this current one size approach europeans have been working with. let's go over what they need to do tomorrow. first the europeans need to be able to find jobs. that's the crux. now there doesn't seem to be any hope for employment in many of these countries. it's reasonable to believe the governments have a role to play in promoting job growth. we would all except that here. the same governments are being told to scale back their governments. we all know that nothing but austerity is unrealistic and untenable but somebody better convince the puppet masters of germany, if that's the case, if these governments are going to try to create jobs in order to get a multiplier effect going, more workers means more taxes get paid and more products get consumed, then they need help. without those jobs the sovereign debt will be under pressure because the tax receipts won't cover the debt. no amount of austerity can save them without some hiring. so the eu has to step up and help.

most likely the equivalent of a modern day marshall plan which the troubled countries can get help from if they play ball when it comes to sovereign state austerity. it's a great way to build infrastructure improvements that have long been neglected during this period. second, the people in the cash strapped countries need to have a rational reason to keep their money in their domestic banks instead of pulling it out. regular viewers know the people of greece, spain italy have been withdrawing money from their banks not because their fear their banks solvency. these banks have deposit insurance like we do. for fear they'll wake up one morning and be forced to take irish punts in exchange for their euros. why stay in a bank if that's going to happen? the solution? we need a european central bank on top of the regular deposit insurance. one that insures people in euros, not some soon to be devalued new currency. there's no incentive to pull the

money out and send it to germany. these two solutions can be done. germans don't want them done right now the status quo has been very good to germany. stock market's up 8%. unemployment is low. profits are robust. why should they agree to do anything? they've got one of the best performing economies in the world. without these two measures the euro will split apart. there'll be an intense devaluation of the new currencies. countries will default. banks will be seized by the state and they'll have to start all over again. sure, the troubled companies, they'll get over it. first they'll be plunged into depression. then they'll spring back not unlike argentina's default and devaluation in 1990 and 1991. it would be horrible pain and then some gain. i'm beginning to believe either outcome is better than this total farcical freeze. obviously one growth is much better than the other and it's the only one i'm for. unless you're germany and you fear inflation. as long as inflation is a worry for the puppet masters and not a severe depression for the other countries, we'll remain in the

this ridiculous status quo. and you have to protect yourself until the choice is made. stick with cramer. c'mon dad!

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i'd be remiss if i didn't say facebook was perhaps the single worst ipo i have ever seen. everything done wrong from where it was placed by morgan stanley to perhaps this new call that some knew that the earnings were weaker to how badly the nasdaq handled it to every single aspect.