bonawyn mentioned, macro it's domestic and gets down to earth. also i point out that bank exposure in the russell 2000 is much higher than it is in the s&p 500. so it's got a lot of characteristics that have to be contended with and also, finally this, important to say, that since may small cap stocks have been consistently outperforming large cap. not a function of the russell 2000 going up. it's just going down less than the big heavies, because apple and others are starting to come apart. >> still to come, your semi setup. how to play the chip space as the already inbound sector hets south. for everything "options action" check out the newsletter there's more "options action" right after this. thinkorswim® by td ameritrade >> announcer: "options action" is sponsored by -- it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trading. personalized education to expand your perspective. and a dedicated trade desk of expert-level support. that will push you to be even better. and

i think it's different this time it's two quarters in a row to bonawyn's point, it becomes a concern. here at 245, it's sort of no man's land we traded 222 a couple of months ago. >> if it got down, the stock's going right back what's different versus now and three months ago is that at the time because sentiment was poor, there was this expectation the fed might pivot. step down now. we also learned a will the here. to me, if we have two guide downs today, we're going to know during this show and say expectations are going to be lower for thursday when we have apple and amazon, but if that doesn't deliver, i don't think we're going to have the broader market rally in july and into august because again, i just don't see the incentive of bidding this margaret up into year end when we know a lot of these companies are dealing with a lot of headwinds here >> we've had three days of rally right now, julie so how are you feeling about, we don't know what the companies will guide at this point, but how are you feeling about continued gains at this point? >> i think a lot of it comes back to

marathon petroleum >> bonawyn >> nat gas >> steven grasso >> nexgen. >> karen finerman?ng a different tact, oih has to sell november 3 calls that's an all-time high so taking money off the table there in oih >> all right thank you all for watching "fast money. see you back tomorrow at 5:00. don't go anywhere. "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 save you some money my job is not just to entertain but to educate, to teach, to discover, to learn so-call me at 1-800-743-cnbc or tweet m me @jimcramer. for over a decade tech

. >> bonawyn. >> chinese drinking notwithstanding i think this is one that you could look into diversifyowth prospects as well. >> that was a story we did not get to the proposal to make civil servants not drink at all even after hours in china it seems nuts. >> it makes it tough to -- makes a long day nothing to look forward to. >> a long day longer >> dan. >> another story we gnt didn't get to this is a real story the twitter elon musk and he's tweeting stuff about russia and ukraine, he talked to putin or not or whatever. i still think, you have four up on in twitter and 5420 that is how i'm playing it. >> thanks fo >>> 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 final it "mad money" starts now. >>> hey, i'm cramer, welcome to "mad money." welcome to cramerica other people want to make friends, i'm trying to make you money. my job is not just to entertain but teach. call me at 1-800-743-cnbc or tweet me don't be nice, @jimcramer. we

. >> bonawyn: -- bilateral relationship is going. >> how?audi arabia and what we contribute and provide, and whether that all needs to be done in the same way. i don't want to get ahead of decisions. this process has just started and the president wants to consult with members of congress. he knows that there's many members up on the hill also with similar concerns. what's a chance to talk with them about that. again, i won't get ahead of him. you heard him say yesterday, there's going to be consequences. >> a reaction. >> for a decision they made, which quite frankly own benefited russia. >> david -- >> hmm. >> and i can say this as somebody who's been a realist and says, we have to let saudi arabia get out of the corner. they are a strategic partner. just like i say, we have to figure out how to work with china. because a pathway to peace in russia goes through china. but let's just be really honest here. everybody knows it. mbs lured a "washington post" reporter, tortured him. had him chopped into little pieces. had him buried in fields.