>> i have stayed short, i have shorted into the deal. i could not believe that blackstone and others saw value here. i still don't see what dell -- michael dell sees at silver lake. i'm completely scratching my head. and, you know, we'll see. >> isn't that a great short, almost the perfect short? because you've got a takeover at the table, not going higher. and if they step away -- >> people thought the thing was 22 on a stub basis and, you know -- i can't make the numbers work. and the cash flow is plummeting. real challenges here. and what i really don't understand is the commercial banks who are lining up to finance this deal. because these are companies, if they go away -- remember deck, the compaq bought and dell bought them. these are companies where you could see the corpus of the business go away. and the tangible equity at dell, last i checked, i think is a negative number. so there is no tangible asset. the cash is offshore. it has not been taxed. and the cash supports the current liabilities. so there's not net cash at this bu

you want to get short yahoo, you need shorting any stock has unlimited risk. dan's put spread is just a $55 risk. let move on here. despite the weaker than expected jobs report, the homebuilders eek out a gain. >>> our next guest says there is a sweet opportunity to get short on housing stocks. let's call to the charts with, speaking of homes, my new very raucous neighbor, as luck would have it, carter braxton worth. >> hi there, hi there. so, yeah, this is an important subject, because what's going on here is that the home builders, the number one theme in all markets for the last year, year and a half are starting to falter. the first chart i have is a five-year chart. it looks at the xhb, etf for all home builders, related to the s&p since the march '09 lows. this is where the qe gets aggress. qe 9. it's pulled away, it's doubled the performance of the s&p. now, let's look at a few home building stocks and then i want to make an inference. this is the xhb now on a more short-term basis, one year. and we are toying with the prospects of breaking the trend th

be short premium for consolidations. >> brian? that facebook call spread. big trades going up on that. i'm a buyer of that call spread. >> all right, i'm melissa lee. thank you so much for watching. our time has expired here. i can't believe i'm going to say this, but on monday, find me on twitter. i'm going to start on monday at 5:00 on "fast." check out our website, as well. see you back here next friday at 5:30 p.m. eastern time. "mad money" with jim cramer starts right now. blown away. that's what i'm talking about. you have no idea the strength that's within you. >> announcer: you've watched her shred weight off her contestants for 10 seasons on nbc's hit tv show the biggest loser. you don't have to be on a tv show to lose weight and change your life. >> now, i finally have the ability to train you just like i train my contestants on tv. now, it's your turn. >> announcer: jillian michaels is the face of 21st century fitness.

the bonds were short. >> can i ask you a question? >> yeah. >> it seems like you are really being gluttanous. your call was on the equity. it was total dysfunction and you nailed it. to get to a place where there's going to be a bond default, i realized -- >> you don't need a default. >> you have to trade down. >> karen, here's the real question. don't they have 1.85 billion in revolver? if so, why wouldn't they be drawing on that before using blackstone to raise additional capital at god knows what rate? >> everything is on the table. >> leave the revolver and they go to the street? >> what message does it say if they start to take up all the revolver? >> in other words, they must be selling the deal but say the revolver is there. >> they have a little bit of leverage to negotiate. >> it is an odd situation. >> it is. it's not like a chipolte or something. if you're short that, it can go to 500 or something. the bond you don't have that asymmetrical risk. >> you have the negative carry. it could go above par. at one time they did tra

maybe short-term we could get a pop. >> so, brian is bullish. at least in the short term.e's doing a call spread. a good beginning strategy. bullish strategy once again, when you buy one call and sell a higher strike call against it to reduce the cost. the goal? you want the stock to go to that high strike. that's where your profits are capped, though, so, what's the trade? >> well, i'm looking at the regular may expiring here. if you look at the may 28 calls, i want to purchase those, at the same time, i'm going to sell the may 31 call. so, net on this trade, i was looking -- i put this on earlier today, paid a little over 70 cents, it closed around 70 cents today. this is sort of a bet, i'm risking one to make three here. i like the payout here. if you look at facebook, it's moved 10% on earnings. over the past couple quarters. so, some stocks have been a little bit, they're movement's been a little dampered here. vix is low, volatility is low. if we get a pop up, it's a great payout. and you are only risking 70 cents. if i'm wrong, i'm out of the trade. i don't want to

could now be the time to get short the banks?come back. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ >>> welcome back. time for total recall, where we take a look at the trades that have yet to work out. now, a couple weeks back, dan made a bearish trade on goldman sachs. the stock has since moved against him, but he hasn't lost any money. and here's why. on "options action," it's the one rule you can bank on. risk less so you can make more and that's what dan tried to do with his bearish bet on g

short the s&p at your own peril. murphy, something tells me you have been a buyer of stocks this morning. >> i have been a buyer. look at the news out there, scott. we are just a couple of points, few handles off the 52-week high in the s&p. all-time high. we are going through that level. we are going to break through it. look at the earnings. if you look at caterpillar it gives you the overall picture, a brief snapshot of the market. caterpillar's quarter wasn't great. you can't argue the point. but the stock was hit on the news. the ceo made positive comments about seeing the best market that he had seen for his business in a couple of years. now the stock is rallying on oh that. if you see the lagging names like caterpillar jump into the market you will see us break out to new highs. >> scott, a quick point. i think this is important for people to keep in mind. the last 5% or 10% of a bull run and i'm not saying we are is staring it in the face could come off in one or two days. i don't think this is where you jum

mark is expecting a short squeeze, not just any short squeeze, a face ripper of a short squeeze. there's a "walking dead" fan if i've ever heard one. >>> heading near the lows of the session now for the s&p and nasdaq. the dow was down 47 at the close. we're getting close to that as well. but you know what we're getting at least today, getting back to a trend that we saw earlier in the year where we were down each monday, consecutive mondays. we would begin the week on a down note. then it would pick up as the week progressed. >> we'll see. today is a unique story. it's easter monday. european markets closed. volume probably going to be on the light side. a big story is s.a.c. capital. take a look at the broader implications for the hedge fund industry and the market. could math ematter to you even you're not looking at any money in that hedge fund. >>> also ahead -- >> what else have you done for us besides bin laden? >> nothing. i've done nothing else. >> well, you certainly have a flair for it. >> yes. he was played by james gandolfini in the hunt for bin laden movie "zero dar

want to short j. and j., call a doctor. dan puts purchase offers big leverage to the down side to $135. now let's move on to a topic most viewers will like, and that is falling gas prices. gasoline hitting a fresh three-month low now off 16%. that has given a boost to casual dining stocks. lower gas prices means more money in consumer's pockets. which stock should you buy. the man who was the real life inspiration for the hit tv show -- wasn't it a tv show, guys? carter. >> hi there. yes, gasoline prices plunging. there's an inverse correlation between casual diners and the price of fuel. the first chart shows you just that. it's 1.5 year chart. as you see here most recently, this plunge in gas from 3.30 to 2.80, that gives you this surge. this is an index of things like domino's pizza, it's got ruth crisp steakhouse. here's the same composite of restaurants with chipotle. this casual diner is going to take a look. look at chipotle outright. here's the problems it encountered. here's the nice recovery. we think it throws ba

. >> we have not done any short term trials or any kind of short term improvements yet? >> i think that we have done some short term improvements over the last year and a half. we have specifically in november, the city constructed a west-bound left turn lane off of the bike bay cut off of market and velenicia and things that we are going for pedestrian improvement and we are doing 8 curbs. and 88 up and down the street. >> which we are required to do. >> we have paved the bike lanes on market and also the livable streets program is designing and coordinating improvements to the wiggle which will be implemented this year, but all of those, we are currently coming up with what would be short term immediate improvements and trying to decide at this point, which of those improvements should we do right now and which should we save for part of the environmental review? >> i know that there are plenty of positive like improvements being made in various parts of the city including on the wiggle. i think that there is an understandable, frustration, that we are continuing to sp

this week they came out and said chipotle is a short. there is no such thing as a gourmet burrito. >> this is a relative thing. gourmet burrito relative to taco bell. >> fair enough. >> in that case maybe there is, like as much as there can be a gourmet hamburger as well. it's tough to make a valuation for chipotle as well. why? because the valuation is high. it's trading 40 times earnings. you might wonder if it's mature. we faced a similar dilemma not that long ago when carter was making a bullish bet on netflix. remember how right he was about that. i trust my man carter. i'm going to go with his instincts here despite the fact that valuation is not the most compelling reason to make a bullish bet. >> usually we buy them. let's walk through the strategy. it's a bullish structure. sell one put and buy a similar strike put. the goal you want your stock to trade above that put strike. on expiration. that way, you can keep the profits you took in. should the stock fall you will see losses but the losses are capped at the strike of the put

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that's one of the great things about shorting. stay short for as long as you want.ember, if the stock goes up they may ask you to put a lot of money out, though, that's where people get squeezed. okay. you got to dig deep, gross margins will guide you in figuring out the direction of a stock. some things you only find on the conference calls, not the headlines. gross margins, that's on the call. stay with cramer. you hurt my feelings, todd. i did? when visa signature asked everybody what upgraded experiences really mattered... you suggested luxury car service instead of "strength training with patrick willis." come on todd! flap them chicken wings. [ grunts ] well, i travel a lot and umm... [ male announcer ] at visa signature, every upgraded experience comes from listening to our cardholders. visa signature. your idea of what a card should be. >> you're hearing tonight for the first time, not how to figure out what's a better or worse expected earnings report, trade seems to be a dominant way of thinking, but how to put these reports to work for you, select the bes

before before the federal intervention came in they started by shorting the g.l.d. very interesting because you get a lot of leverage that way forces obviously. the redemptions force you know force the bullion to be to be purchased but it also if you think about it none of this bullion in all of this smash not one ounce of that billion has turned up there is no physical for sale so you know where is it going well i suggest strongly that it's going to rip replace inventories that were not in the face all these inventories are all mismatched by duration and it's incurred itself over the years you've had basically or all the way back from that from the from the lease carry trade so you had bullion banks building up index positions never really needing to purchase the gold and all of a sudden you get someone like china like russia like central banks and sovereigns and other small investors saying look i tell you our m.f.g. didn't like what happened there re hypothecated gold no i think i better take delivery so now you've got the this enormous pressure on the bullion th

that's one of the great things about shorting. stay short for as long as you want. remember, put a lot of money out, though, that's where people get squeezed. okay. you got to dig deep, gross margins will guide you in figuring out the direction of a stock. some things you only find on the conference calls, not the headlines, gross margins, that's on the call. stay with cramer. . . humans. even when we cross our "ts" and dot our "i's", we still run into problems. that's why liberty mutual insurance offers accident forgiveness with our auto policies. if you qualify, your rates won't go up due to your first accident. because making mistakes is only human, and so are we. we also offer new car replacement, so if you total your new car, we'll give you the money for a new one. call liberty mutual insurance at... and ask us all about our auto features, like guaranteed repairs, where if you get into an accident and use one of our certified repair shops, the repairs are guaranteed for life. so call... to talk with an insurance expert about everything that comes standard with

jcp is the most shorted name in the s&p 500. 47% short interest. melissa?to you. >> thank you, josh. guy, are you a sensible slacks kind of guy? you like what's going on there? >> well, see, now, you can't live in a vacuum te[e, harvard girl. >> what are you talking about? >> on april 11th, when that stock flushed, i was sitting here, finerman was there, i said, you know, not a bad day to be buying jcp on this flush. traded like 89 million shares. >> and you say i called you crazy. >> yeah. >> i call you that often, i don't remember. >> it's all about trading. today is the day, you probably take some off the table. in a vacuum, today, if you flew down from mars, what do you do? you buy it again. ? >> really? >> yeah, because people are chasing. all the company's broke, the stock may have legs here. >> yeah, i think what you can say, the best thing you can say is that now talk of an $8 stock is off the table. talk of the suppliers abandoning the company is off the table. i think if you are fortunate to catch this bounce, i wouldn't be looking for much more i

this is the time to short. and it was the exact wrong moment to short. it wasn't a crazy idea to short the market at 9:30 on friday morning. it just turned out to be cotely >> that makes sense when you have all of the indexes hitting new highs. here's what's going to happen next. yesterday we started talking about a possible new rotation away from cyclical names away from the consumer and defensive names. that could change very, very quickly. >> thank you very much. let's go out to chicago now where we have breaking news in the bond market. >> well, we auctioned off nine year, ten year securities. the bid to cover was there. here is the real good news. the dealers only took down about 33.5% of this. no matter how you slice it the mettics earn it a c plus. and maybe i'm being a little generous today. back to you. >> we have been watching gold prices as well. >> others as well. those figures are off sharply since the beginning of the year. goldman has particular credibility on this one given that if you took the advice to go long the metal you would be up

break and after that short break we'll continue our discussion on russia's economy. well the british. market. find out what's really happening to the global economy with. no holds barred look at the global financial headlines two kinds of reports. have to bring down of the sun and good morning we will remember that we will. the international airport in the very heart of moscow. welcome back to on the money where the business of russia is business i'm peter lavelle to remind you we're talking about russia's economy but before we continue our discussion let's have a look at this report. while the recession is hitting the global economy russia is secured with a safety blanket this spring the i.m.f. has not yet down its estimates for world g.d.p. from three and a half to three point two percent growth deficit in russia is part of this larger worldwide paradigm we can't you demand in the u.s. and europe have hampered oil exports also the prospect of deflation in the euro zone and the bank crisis in cyprus have added to the negative sentiment thus in the first quarter of t

ewg, i would short it.

so rostering that sharks pixley said that there was a concerted short sell what a concerted short a how that could possibly be used to intentionally cause the price to go down. and all says that's a conspiracy theory and it's wacky now like going to a little clip from a film from c.b.c. in canada they did a documentary this week about the secret world of gold and in it there was a scene with bart chilton c f t c executive where he is investigating gold and silver manipulation and this is how he explains it happens what we've seen all too often is where you have an individual trader who has excessive concentration when i say excessive i mean concentration that can lead to pushing. prices are around and we've seen it in precious metals silver in gold and some of the other commodities. that i see f.t. c regulator admits that there is concentrated positions of market manipulation because he just waving a blonde hair and shaking his breast through the t.v. camera he's completely ineffectual and regulator all right now after the break i'm going to answer with wire about this and that but sinc

>> i'm short. i think it goes to five.ttlebutt is they went to others and say, would you take the ceo role and they couldn't get a take her? so mike who was a great ceo -- >> i'm sure they are still shopping around. does anybody expect this guy to stick around for five, ten years? >> no, but who's going to take it? they have no balance sheet left. their stores are just a mess, you have confused the customer. it's not like the customer even knows who the ceo is. they are very limited to what they can do. i think they are in a terminal downdraft. i'm short the stock, it goes to five, there's no hope here. >> their case is easy to make, is there a bookcase? >> i was long in the stock and then i was long in the calls on the stock, jcpenney last week discussed the bull case. you saw last night, when you broke the news that ron johnson was out, what happened to the stock? it was at 17 and change pushing $18 on the news, if i'm correct. so i'm looking -- the reason i was long those calls was i think the short covering over 40, cl

when markets get over-sold, you get a short squeeze, and like i said, this is a good old-fashioned short squeeze. - we are looking at earnings activity as well. what's on your radar? - you know, amazon came out with earnings yesterday, and they were- they beat, but the stock wasn't totally thrilled with it. i think what you have to watch is, we have been having a rough earnings season, and a lot of companies have been missing on either the top or bottom line, and the market is getting slightly overvalued here. i think that you've got to watch the general picture and see what goes on from here. - would you buy anything today in this market? - i am not a buyer of anything in this market. i am not necessarily a seller. i am looking to get short, but i am not necessarily a seller here, i am more of an observer. but i am definitely not a buyer. i think new money here would be irresponsible. - thanks for being on the show today. todd horwitz. thank you. for 11 years, the federal reserve bank of chicago has sponsored "money smart week," a series of free workshops to teach financial literacy to

penney, i would probably sell some more. >> so you would short some more? >> i am short. if it gets high enough, you know, i suppose they could do some sort of secondary, but i don't see that -- it's possible. but now we'll look to valuation. now all the magic of ron johnson is going away. look at valuation. it's crazy expensive here. >> we'll leave this there. thanks for phoning in. we appreciate it. really critical point here that karen made and that is j.c. penney might not have a ceo in place for the all-important holiday season. which is make or break probably for j.c. penney. >> and this is a company that somewhere at one or two quarters is cash flow issues. they have to invest in merchandise in a period where they don't have someone to make the call. karen's defaulting to, this is not a cheap company, a special situation where you have a place where private equity would be the one place people would be latching on to. >> we've had analysts on this show talking about how j.c. penney might be a going concern. what kind of cash do they have? what is their cash burn? a

it's been designated a restricted zone so people can only visit a short time. the 60 refugees gathered under the trees for an hour and couldn't stay longer because of radiation. at that time, it was quality but it will be a sunny day in the prefecture. and rainy conditions continuing across the east. and in quebec the next 24 hours and this cold front will have thunderstorms. the rainiest weather is found in pennsylvania and new york. by thursday afternoon, things will be clearing up across most of the u.s. out west, we have a high pressure system bringing dry weather and clear skies because temperatures may go below freezing in some places so that would kill sensitive plants if left uncovered outside. towards the north, on and off showers, snow showers moving into the great lakes region in some areas. across the west, looking dry but wet weather in the forecast for the west coast of british columbia, vancouver will miss the rain with a high of 15, 17 in seattle and double digits in denver thursday. finally, in europe, wet and windy conditions continue for the

in which you didn't carry cash in short term. i'm sorry what what what she did was around were a nerdy thing resigned to accepting her for the council house example council house example is a way of obtaining money for a lot of property which creates money that can be put in elsewhere that's just the simple example that i'm giving at the moment but it doesn't make the country better or make the country a better place for the poor people are living in their council houses they just pay a mortgage instead of paying rent clifford let's change gears here with margaret thatcher i'm going to change gears here clifford was margaret thatcher a great leader in your opinion or she was a great leader one of the great leaders of the late nineteenth century along with people like ronald reagan pope john paul two done shopping boris yeltsin well. we know your world enjoyed. well you can go and go ahead go ahead go ahead he was sufficient for the time he was sufficient for the time and. and the world turned a page in terms of the spread of demo

before before the federal intervention came in they started by shorting g.l.d. very interesting because you get a lot of leverage that way forces obviously. the redemptions force you know force the bullion to be to be purchased but it also if you think about it none of this bullion in all of this smash not one ounce of that bullion has turned up there is no physical for sale so you know where is it going well i suggest strongly that it's going to rip replace inventories that were not there in the first place all these inventories are mismatched by duration and it's incurred itself over the years you've had basically or all the way back from the from the lease carry trade so you had bullion banks building up index positions never really needing to purchase the gold and all of a sudden you get someone like. you know like russia like central banks and sovereigns and other small investors saying look i tell you our m.f.g. didn't like what happened there re hypothecated gold no i think i better take delivery so now you've got the this enormous pressure on the bullion

. - is it time to start shorting this market? - i wouldn't necessarily say short the market, but with the vix trending back to where it was, i would say step in and buy some protection. i don't know that i would be going out and getting new longs here - i wouldn't short it, i definitely wouldn't short it - but i would buy my protection. - what about earnings, what will you watch this week? - we have caterpillar, which, like ibm, like ge, that is going to be a global bellweather to take a look at. netflix, which everyone has taken notice of over the last three, four months, is going to be real interesting as well. and then, just really a broad, broad spectrum throughout the entire week. - thank you, scott. you have a good week. - same to you angie. under sequestration, a lot of government contracts are getting cut - tough for entrepreneurs who count on government business, but, as our cover story shows you, not as much for veterans who want to launch their own business. veterans, who already face an unemployment rate higher than t

break and after that short break we'll continue our discussion on russia's economy. well into the future what makes two pewters these days so super is that the memory for that russian research is have got a few ideas that could make cognitive computing a reality what about the process or check out a radical new architecture that promises unparalleled power design for the stars and is that got you all hot under the collar to quit don't worry because the latest cooling systems ensure neither you nor the gold for computers break a sweat want you to cheer on a launch we've got the future of country. the international airport in the very heart of moscow. welcome back to on the money where the business of russia is business i'm peter lavelle to remind you we're talking about russia's economy but before we continue our discussion let's have a look at this report. while recession is hitting the global economy russia is secured with a safety blanket this spring the i.m.f. has not yet down its estimates for world g.d.p. from three and a half to three point two percent growth d

so to me, i think this was a name you can short. technically broke down below 85, i think that's a key level. they're going to have earnings in a few weeks here. i think if you see earnings continue to decelerate, this will be re-rated, traded at 80 times this year's expected earnings. >> they've been trading the miners like they're going out of business. this isn't a revelation. and we've been dealing with this for six weeks. today was probably, might have been the cherry on the top. if you haven't seen the selloff as deeply and really just begun, the specialty metals, these are places where you're talking about titanium, you're talking about specialty type defense and aerospace and defense where you have, i think, a lot of room to run down. these were stocks that traded and lagged the move down in metals back in 2008, '09, this is a place where you have a big shot and names that will get destroyed because, again, these are high-priced metals. ubs downgraded today, credit suisse, i'd watch these. >> i was looking at xhb, the home b

the short fall, that $10 million short fall is really in the areas of the kind of the plans, education, and outreach because very often the funding sources that we deal with at mta you build the project and deal with this. and these programs are limited to us so that is the $10 million gap. step two, fund pilot treatments and identify those most impactful so we're building up how to take care of the short fall. one do the injury corridors, identify innovative treatments and integrate with other projects. again that is a $5 million gap. step three and estimate improvements and we estimated the third part, the permanent capital improvements but again this is a strategy. it's a plan. it's an estimate. we haven't actually gone to the intersections. we haven't done the engineering but that is the goal. that's what we're reaching towards so again we want to implement the high impacts first and then pursue funding by phase and i often tell people so they see the total there and we're never going to accomplish that. in reality we want to fund environmental studies, do outreach and fund designs

you didn't carry cash in short term. i'm sorry what watch what she did was. to actually help put council house example council house example is a way of obtaining money for a lot of property which creates money that can be put in elsewhere that's just the simple example that i'm giving at the moment but it doesn't make the country better or make the country a better place for the poor people are living in their council houses they just pay a mortgage instead of paying rent clifford let's change gears here with margaret thatcher i'm going to change gears here clifford was margaret thatcher a great leader in your opinion oh she was a great leader one of the great leaders of the late nineteenth century along with people like ronald reagan pope john paul two done shopping boris yeltsin well ok good to know your world enjoyed. well you can go and go ahead go ahead go ahead he was sufficient for the time he was sufficient for the time and. and the world turned a page in terms of the spread of democracy and market economy some

i mean, shorting the s&p, i actually think you could probably short housing here. >> we're going to get you and dougie cass a cell for your bear suits. >> i'm worried one of our members who's an obvious bear is going to need a hug. >> that was brian kelly a week ago on halftime, joins us now on the phone. thoughts in a call you had there. how to you feel today? >> caller: well, i still want hugs, absolutely, but i think, you know, if you look at what happened today, you have to question whether or not the economy going forward and earnings going forward are going to be as good as everybody expects. europe continues to weaken, look at china tapping on the brakes. here in the u.s. you say, okay, we're pumping $85 billion a month into the economy. where are the jobs? is qe 3 really working? probably not. >> i mean, at some point, b.k., do you look at these pullbacks and think it becomes an opportunity? that's what some of the guys on the desk today, if not an overwhelming majority of the traders today think it is. >> caller: yeah, i mean, i think a little bit that goes to your timeframe, t

wow, he's going to put the short end at the opening. here's the bottom line, thanks to tim collins' chart work, we know that the nasdaq 100 is no longer following apple's lousy leadership. however, at this point, that might not be such a great thing anymore. the money may not be flowing back in the nasdaq since the charts is interpreted by collins just the nasdaq 100 could be at risk of taking a big haircut from here. i'm a fundamentalist not a chart follower, but i don't like it when the charts are against you. and this is one more reason to be wary of tech. it's a mutiny all right. and collins says the bounty is going to the bears. after the break, i'll try to save you more money. >>> coming up -- wonder drugs? all this week, cramer's checking up on the strongest trends in medical science. and tonight he's focusing in on companies with powerful treatments that could help curb cancer. is it time to join the fight? i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right.