which i won't mention. be easy. >> but delta airlines tomorrow. mike was just talking about it and i talked about it last night, this stock is going higher. >> i'm melissa lee. see you back here you back here. meantime "mad money" with jim cramer starts right now. \s . my miss is simple. there's always a bull market somewhere. i promise to help you find it. "mad money" starts right 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 money. my job is not just to teach, but entertain, education. call me or tweet me. discipline must trump conviction. rules that have kept you out of trouble have to be obeyed, which is despite the pullback today,
dow falling 50, because the s&p oscillator is now in extreme overbought territory, which tells me we are due for some pain. >> the house of pain. >> before i explain my reliance on this darned oscillator, let me break down what i saw. it's inextricably late to several inputs. stocks intend tend to go pie higher if we have three circumstances -- a weaker dollar, higher oil and stronger chinese stock market. i may not necessarily agree that these should cause a raleigh. i think higher oils mean lower personal save,s lower personal consumption, higher cost for most businesses, only 10% directly benefits from a more expensive group. it doesn't matter what i think, though. right now the correlation between higher oil and higher
stock prices is so ingrained it's not even worth the intellect why will combat. when oil was flying high today, you know, you had a decent-looking market, but it sold off. as soon as it did, that directly turned the tape into the red. it was incredible. we know that the chinese stock market has been manipulated higher by their government. it shouldn't matter at all, right? but again i don't determine these thing. trader tend to want to buy -- the weaker dollar as a positive actually makes total sense to me, because the earnings of u.s.-based international companies are crimped, as my friend scott wapner pointed out on halftime, now investors seem to be willing to excuse sales, and that's how the symptom of johnson & johnson could kind of hang in there, despite deliver a huge decline in sales, versus last year, when it reported this morning. it's true also that j & j
announced a buyback, but they overlooked the weakness caused by the stronger strength, looked through it and determined that the sales weren't merely as bad as the headline number. still in the darn dollar would go down, profits would soar. that's just a fact of life. it's why ultimately the greenback matters enormous oy will the overall trajectory, but it doesn't matter today. when they were all flashing green as they were at one point, why don't you say any weakness is a buying do you know. why not urge people to guy stocks, knowing they have the proverbial three-pronged wind at their back. the st. and poor's oscillator. that's why. for 28 years i've gone over the charts every week. first when they were hand-delivered it to my house, i loved it that way, but now because i'm in the digital way, electronic loy. they're sent to me from the s&p. i treasure them. they give me ideas. they allow me to make a mental
picture of what's going on. they're look an old pair the wing tips. for the price of a subscription std & poor's throws in a reading of the oscillator. we know the averages have been strong for days on end. i've watched it go up and up and up every night. and then there are levels when i just say enough. if you haven't bought anything, don't do it now. the levels where that extra warning goes out is when the oscillator goes to plus ten. guess what? that is the number the oscillator hit last night after the close. consider it the equivalent of the danger zone. and line kenny loggins, i would rather avoid the highway to the danger zone. i know from twitter followers, if the market continues to go higher, the callcallers will write and say you kept me out of the best rally in years, they'll
character assassinate me, make in clear i'm an idaho outthat has never done anything right. and i would be better off if i ran into chase utley's spikes. even though it was is almost an exercise in futility. i had kind of a religious twitter experience when i visited my daughter in oregon. first, i bellock any twitter troll. she says why not thank people and tell them they are terrific? i was growing tired of twitter, but our guidance in the big company, they've changed my attitude. i'm even periscoping before the show, to give you a flavor of what you're about to see. by the way, you could see she be spray painted tonight while i talk about the show, kind of a pregame. so why not debate people if you get a real rally while calling you an idiot.
simple? i only know what my discipline tells me. sure there are instances when i continued to make money buying stocks, there were moments when it seems too juicy. one that will most likely require the combination of the asset stakes, and moulsen coors is the logical buyer, or you may not catch a possible merger or better than expected intel quarter. i can see getting blame for missing these moves and hundreds of others like them and the smiley faces with the sun glasses may not cut t however the majority of the stock performs i've made, when the oscillator exceeds 10 have been met not with terrific gains but with tears. [ crying ] >> not long after. historically the risk has been way too high and the reward too low. things just tend to go wrong
when we'ring this overbought. even when stocks have been hammonder relentlessly and are actually oversold. the biotechs will still go lower once this thing rolls over. let's say i would be buying a drug stock, then the democrats trash the pharmaceutical industry, and then you come in tomorrow and think what the heck was i thinking? and someone will -- some analysts will downgrade it. thinking we're at a nice level, and then a bad earnings report. these things just tend to happen, and given how overbought the market is, they tend to be more severe than if the stocks had already been pounded. >> i know the oscillator is add on the with the inputs, you may think it should be weighed, given the stock market. the finishes in the green, but the bottom line in this discipline and the show trumps
my conviction. while i have tremendous conviction, which would mean you should be buying high quality stocks, my discipline never says hold off, because a better lower level is coming, so until this mark either goes lower or works off its oversold condition by doing nothing for the next ten day, i say it's time to sit on the sidelines, yes, maybe even take some profits, at least until the oscillator drops back to more reasonable, less stretched levels. why don't we start with adam in massachusetts. adam? >> caller: boo-yah from massachusetts, jim. how are you, adam? >> caller: i'm all right. i've bmr stock for years, it's considered capital gains. as you probably know blackstone is purchasing the company, and the stock shot up and has since flatlined. moves a penny they're, a penny there. pays a decent dividend. should i just hold on to it? >> no, i want you to ring the
register. you have the good gain. let's just move on and congratulations. philip to my home state in new jersey. please, philip. philip. to see. >> >> caller: the best analyst in the planet. >> thanks very much. we're going to hang together in what will be the tough market over the next few days. what's up? well, i got that nice compliment, philip, now you can actually -- i think fill for don in ohio. >> caller: aloha cramer. >> mahalo, partner. >> caller: >> caller: exxon mobil, i bought it at 81. good gift, 3.68. is it a hold? buy more or should i go surfing? >> hold right here, buy at 74. i think tech go as we retest the
33, 35 level, where i want people to be a buyer. i think this is a market that's very overbought. buy on the way down. we go to dave in illinois. dave? >> caller: professor cramer and the wife, none better. >> the wife insisted the ribs she made be called the wife's ribs and no longer cramer's none better. i taye issue with that, but she doesn't watch the show, and i don't think her friends watch it, so i can say what i want. go ahead, dave. i dispensed priceless information to philip and dave. phillips in new jersey is back. philip. >> caller: dr. cramer, the best finish analyst on the planet. love the books, thank you so much for your advice, i look forward to watch you you every day. this is a crazy, volatile markets. the stocking are up and down. i'm a long-term investor, but i
own budweiser at it 1-ish, and the stock has tanked since then, and now they made the merger. i was interested in buying more stock -- >> know, as the market comes down, i would buy. this is a great for bud, a great deal for moulsen. when consolation got the gift, the stock went from 30 -- anyway, sure i believe that things are pretty positive, by my discipline says ute you've got to wait now. a lower level is coming. "mad money" in the wake of yesterday's nasty pullback that continued today, i'm teakling the technicals. and then everybody is talking about the weak data out of china. i'm revealing just ahead. plus the biotech sector has struggling, but the window hand closed completely. i'm eyeing new companies to see if opportunities could be
my name is rene guerrero. i'm a senior field technician for pg&e here in san jose. pg&e is using new technology to improve our system, replacing pipelines throughout the city of san jose, to provide safe and reliable services. raising a family here in the city of san jose has been a wonderful experience. my oldest son now works for pg&e. when i do get a chance, an opportunity to work with him, it's always a pleasure. i love my job and i care about the work i do.
i know how hard our crews work for our customers. i want them to know that they do have a safe and reliable system. together, we're building a better california. . we've got to talk oil. with the price of oil seemingly finding footage in the high 40s, after a roller coaster ride, we need to ask ourself where crude might be hiding next. remember i think the oil rebound has been a major driver of the epic rally in our stock market, one that many people think ended today, but let's see. it's imperative that we get a sense of where oil is going. that's why tonight we're going off the charts. we want to put the oil market in perspective. carly garner is a brilliant technician, cofounder of the -- and also used to be my
colleague. garner correctly predicted the big swoon down, and they should at the beginning of september she actively called for a sustained rumsfeldly. she's got the best track record i know when it comes to texas tea. remember it's been down for two straight day, you just can't stop talking about the oil supply glut, but in garners's view, what they focus are on are not exactly new. everybody knew that opec would keep pumping in order to break as many of our oil producers as they could. in energy-independent america is not in their interests. it's not like the weakness in the chinese economy is shocking, either. the path v least resistance for crude is likely to be higher.
her reasoning? check out this weekly chart of west it can it can intermediate crude top of the commission's weekly c.o.t., or commitment of traders numbers. it tells you exactly how the major players are betting in the oil futures market. it buys buyers and sellers into real energy companies, simply using the futures as a hedge by selling futures, small speculators mean home gamers, then the group we really carry about the large speculators, meaning the big institutional money managers that tend to drive markets every single day. it allows garner to make some fabulous calls. what can she glean from this chart? very interesting. at the moment, garner says the commitments of traders' numbers do not paint a clear picture. remember we're looking for the
large spec. in fast she says most people would read this as rather mutual. a neutral-looking chart at a time when most experts seem to believe the fundamentals are downright negative suggest to garner the smart money is resisting the more importantly the bulls have a lot of ammunition to buy. they are net long roughly 300,000 contracts. that's what you're looking at. now, the price of oil tends to be near peak when this number gets too high, because people are too bullish, and there's nowhere left to go but down. because it means there's no one left to sell. this current number, it's kind of somewhere in the middle. when the price of oil got crushed at the end of august, oak? the big boys had a net long position of 200,000 contracts. that's the early one.
right here. 200,000 contracts. when the price of oil peaked last year -- this is this other one. when it peaked, they had 500,000. when it bottomed they owned very little, okay? right there, they owned little, and when it peaked, they owned a lot. that's why garner like this current number. on the other hand it means a big liquidation is very unlikely. for that to happen, they would have -- like they do here than they do now. at the same time we also know the big institutional investors still have a lot of money on the sidelines or betting against the price of oil. for garner that's a positive. it means they have plenty of cash they can put to work buying oil if they want to. in other words, any oil rally would have -- that means to me as it goes down, you're going to catch buyers, not sellers. what make garner think they will want to buy oil? take a look at the weekly chart. lately oil has been bumping up
against a pretty strong ceiling of resistance at this $50 level, okay? not only is $50 per barrel a powerful psychological barrel, garner also says it's a critical inflection point that means the price of oil can break out above 50, it will also be breaking the negative trend that has controlled the action here in oil for well over a year, which garner thinking would lead to not just a rally, but a monumental rally. on the other hand if oil can't break through the ceiling, she wouldn't be surprised if it pulls back and retests for support at the 40 level. she thinking it's more likely oil will break out to the up side. it only needs to move up two bucks and change to cross the $50 threshold. plus garner points out that oil remain -- both the relevant strength index and the oscillator are sitting right any
middle of the channels. never, there's no reason that the recent rally can't continue. if oil does break out, she thinking -- at that point it's entirely possible the short sellers will throw in the towel. in other words, garner is pretty darn sanguine about the price. sanguine. but because oil is so important in this market and because it's such a bullish view, i think it's crucial we get one other view here. hence we also checked in with carolyn verland, runs fibonacci queen, that website. possibly representing a very real bottom and her long-term view is pretty positive. she also sees oil eventually warricking back to 70, even 60.
but the word she used for me when i was asking about this move is eventually. so pull that in all caps or quotes, boroden thinking it might be moref to become cautious. take a look at this daily chart of west texas crude. boroden is running it through the fibonacci ratios. or 100% to identify key levels where the chart's trajectory is likely to change. there's a big cluster of these levels to 76, to 52.21. these are going to act as a powerful level of resistance. she thinking it will be hard to get through. boroden's methods covers time. the -- could have changed the trajectory between last thursday and yesterday, meaning -- they last two days are very
significant, plus she also notes that last big rally lasted for 34 days, okay? and so far it's been 33 traden days since oil bottomed back on the 24th, another sign the recent rally -- remember, she matches these moves is, well, let 'say concluding and yesterday and today's reversal were very significant days. she thinking it could come back down. either way, the bottom line, carly garner and boroden thinking it could go higher. and remember garn are called the top, garner called the bottom, and garner says it goes higher. much more "mad money" is ahead s let me reveal the crude truth about the sectors, which plays could be worth considering.
and 34 public companies debuted on the public market in the third quarter. could it be worth eyeing some fresh-faced companies? we had a good call last week. i'm going to give you my take. and it's time to stop doubting the darned chinese consumer. i'll have a very against the grain view, so stick with cramer.
over the past couple weeks something incredible has happened. the most hated group in the market has transformed to the most loved. that's happened all over the place, but particularly to the oil complex. as i told you before the break, some of our best technicians believe the price of crude could still be headed higher, perhaps a lot higher, though one said we had to do some backic and filling, which i think is probably right. that's why you need some oil exposure's oil goes down. i'm going to be highlighting my names in the space, before the next move up. however, considering all of the recent turmoil, where many of the more highly leveraged seem to be standing on the brink. it's important that we be picky when it comes to buying stocks in the energy sector. we want to -- if something goes
wrong, no, instead we move for high quality energy companies to at least sleep at night. my energy transfer partners, and i reiterate that ept is a terrific stock to buy as i expect the market goes lower. what other energy stocks are worth owns, , in other words, that kind of trades with it, let me recommend o.x.y. there gives you a nice stream of income and real downside protection in case the stock go lower. it tracks better, inclusion exxon, chevron, all those. now, one of the things i like about this is that dividend. a dividend makes owns this company seem much less daunting. it's my high-yield play, which is why it's one of the large positions in my charitial trust, which you can follow the moves
up, and i've been doing plenty of bulletins about the bock. when i tell you i like oxy, please don't take it as a reason to buy any oil-related company with a big fad yield. not auld dividends are created equally. remember, a high yield can be a red flag, because it signals investors no longer can continue pays the different and may have to cut or eliminate its dividend entirely. that's something you really have to keep in mind in the oil space, where so many companies have stressed is balance sheets. i'm trying to pick the ones that won't get her that balancely. if you're picking a dividend stock, especially in the oil pass, you can't just look at the yield, you have to figure out whether or not the dividend is solid. when it comes to occidental petroleum, you get a yield which i feel is pretty secure.
remember, again, because the market is as overbought as i have seen it in ages, i'm not say buy buy buy, i'm saying right now or else, and, you know, then put a gun to the head -- where's my gun? you get the point, right? or put some benadryl to your head. i'm saying as oxycomes down, i will like it more and more. all right? i'm not ringing the bell. i'm just saying i like oxy on the way down. so let's think deeper into this story. occidental falls into the sweet spot between the -- and the smaller independents with higher growth, but weaker balance sheets. with oxy i think you get the beth of both worse, and an owl producer with a consistent dividend. a pretty darn low debt to
capitalization ratio, and some are so high it's scary to look at. even after all the drag about the price of oil had 5.1 billion in cash and equivalents. in other words, this is not one of those overstretched oils you hear people talking about. far from it. occidental has a clear strategy to deal with the current low pry environment. it plans to rally around the best assets. . this decision to focus on the permian, which is by far the cheapest place to find oil is why occidental brilliantly espn off the california assets as california resources back in december of last year when people thought oil was going to go back to 100. that spin-off is looking at a pretty darn savvy move. debuted at $8 and has since nearly been cut in half. thanks to that spin-off, it's up
with the only high quality assets as well as holds in the middle east and latin-american, they're able to cheaply produce significant quantities. the permian in particular is an absolute gold mine. and the company's infrastructure investments allow it to produce lots of oil with very low operating costs, and you add the infrastructure, take it right to where oil needs to be, this is very significant. oxy is incredibly shareholders friendly. it raisedsh for the past 15 consecutive years. oxy already increased its quarterly pay jot. you see all these guys cut it, they increased. what does that tell you about their confidence? i consider that a win. think about it. they haven't even as the price of crude has been more that cut in ha of from last year's high ♪ hallelujah >> and over the past sick quarters alone it repurchased
anout standing 4% of the shares. these gees are ready for declining oil prices, and we know they upped their buyback. i be we hear the continued buyback stock lining crazy given the shares hilt a mull year low. they buy at the top. they're buying in here. i like that. finally while occidental is far from the cheapest, i think it's fairly valued. on an enterprise multiwall basis, and a decent size discount, even as their dividends are paltry. e:g is the highest growth portfolio that i like so much. the bottom line -- if you want a relatively safe oil stock with a juicy yield that's indeed linked to the price of crude, i want you to look no further than oxy. the best balance sheet, the best assets and the most shareholder friendly agenda.
they saw it coming. it's worth now into the weakness i expect from this overbought market and the declines i'm expecting it to give to you. why do don't we take calls? jonathan in massachusetts? >> caller: hi, jim. i'm a patriots fan and jim cramer fan. >> this is jonathan kraft, the owner of the patriots. >> caller: oh, i wish. >> whatever. >> caller: here's my how come dyn and nrg are traded for $2, while most analysts say they should tray $40. how tum there's such a huge discrepancy? >> the analysts want growth wherever they can find it. when i look at a utility. i don't want growth. i want safety. that's why i like dominion,
coned, that's week eap i don't want a fast-growing utility. i want a utility that allows me to sleep at night. you know how hard it is for me to sleep? jonathan kraft is the son of the owner robert kravrkts bud i regard jonathan, and he's a friends of the show and he gave me a patriots jersey. perhaps the spell could be coming ton to an end. -- more than most of the majors, i don't want you to think any further than occidental. i think things are coming down. much more "mad money" ahead, though the biotech sector remains our favor, is it time to look for other spots in the space? don't make a move until you hear my take. there's been a lot of talk about china. are the country's consumers doing better? i'm sticking my neck out. i like that. your calls, rapid fire in today's rendition of the super nice lightning round, so stick with cramer.
bear market, we're once again seeing a wave of biotech ipos. the average has rebounded dramatically from just a few week action, so maybe people feel like there will be an appear tide. remember that novo cure, which is rapidly rallied a dozens points, could be another 7% gain, i'm thrilled with that gain, i hope you call it, but i'm not now in no-chase mode, so if you missed it, you missed it. and even some of the better ones are simply too risky to own, where the market seems to shun growth, and that's why tonight i want to update you on a couple new ipos so that you know what to look for and what to avoid. this jumped to 1240 at the end of the first day, and really
hasn't done much. it's a very early stage biotech that's pioneers a platform called -- we know that cancer immu immunotherapy is exciting. norm's they therapeutic drugs are still designed to go after antigen in cancer cells and -- which can cause some unfortunate side effects, though nowhere knee as bad as what you would expect, but if that's the ultimate targeting cancer treatment. in other words the platform could make all sorts of novel drugs more effective. hence why this company has big partners of bristol-myers and pfizer. it has a terrific concept with exciting technology, but right now that's about all. the prep line is even calling it
a pipeline seems like a stretch here. everything is preclinical. that's just too risky for this guy. it certainly has promise, but here's the problem. this therapy is so early stage that the company hasn't even filed an investigational new drug application with the fda. that's expected in the second half. cytomx can't move to clinical trials until they get that clearance, then it has to go through years of testing. that's their lead drug. in short, they may have an intriguing technology, but this company may bess the most developmental of the companies that have come public this year. look, i'm not saying this company's technology won't be a game changer, but the truth is we really don't know enough until the clinical trials start, and for now it's more of a lottery ticket.
it's only for true risk takers, younger people who walely want to roll the dice? i don't know. but stonebridge biopharma, coming public this week, ticker sbbp. now strongbridge is for this cussed on creating therapies for rare orphan diseases. the lead drug is one for curbing's disease, usually called by a benign tumor on the pituitary, that can lease to heart disease, suppression, and cognitive nflsh there happened to be a whole episode of "house" that had cushing's disease. this could be fabulous. the data so far states that it's safer -- and unlike where it's preclinical stonebridge's lead
drug is currently in face 3, expected to filed for approval in 2017. this is the kind of orphan drug -- over drug pricing actually has a real impact on the industry, because both sides acknowledge these rare diseases have to have drugs that are super expensive or else they wouldn't exist and no drug company would try. even when the democrats bash drugs, remember they came up with the orphan designation. stone did this bridge has two treatments in face 2 trials. they seem promising. strongbridge is exactly the kind of development stage biotech that i think you should speculate on. i think it would be -- though given how bad this market has been, don't get, or even, it doesn't hold the print price, in
fact i would like you to buy more, in this environment, we know that any fresh-faced biocould be given how the market currently despise it is, you have to be careful. that's st., had hasn't even started clinical trials, but a company like strongbridge has an exciting orphan drug in phase 3, that's a different story, which is why i like it ahead of the company's ipo later this week. "mad money" is after the break. the --
it is a time for the lightning round. rapid-fire calls, i say sell or buy, and then the lightning round is over. are you ready, skee-daddy? time for the lightning round. start with bill in pennsylvania. >> caller: mr. cramer, thank you for taking my call. questions on bng foods. >> i really like bng foods after that acquisition of the green giant. the stock has not come in. i think that's a mistake in this kind of market, lots of storks
are coming in, when that gets at 33, 34, pull the trigger. david in nevada. david? >> caller: thank you for all the great advise. >> thank you, david. >> caller: i've been a long time supporter of whole foods, being i'm from austin, texas originally. and i'm just wondering what's in the future for. >> whole foods, this might be the last bad quarter, so% down side and much more up side, so wait until the quarter, because i think it's it's not going to be good, and then i think. christy in florida? >> caller: jim, calling from satellite beach, florida. what about conforma? >> a lot of studies show this is the absolutely the best, made to order parts for your body. i continue to think that it has good opportunities, but remember we're in a tough market for that kind of stock. bruce in illinois, please.
>> caller: how are you doing, jim? >> all right. how are you? >> caller: great. from the chicago area, glenview, illinois. >> excellent. >> caller: i have a question for you. i don't know how i came across it, but a stock called stone more partners. >> yes, this is a stock that's a cemetery stock, basically. i have liked it. it has a good yield. let's go to shawn in colorado. shawn? >> caller: yes, my-high ski country boo-yah. >> a broncos defense boo-yah. >> caller: my question is in regard to no -- >> this is a regular -- the regular drug stock. i want you to swap out of that and go into eli lilly under 80, because of what they have with diabetes drugs. janet in california, janet? >> caller: hi, jim. i just want to let you know you put a smile on my face in the morning and at night. what do you think about -- >> i'm sorry. i missed that.
>> caller: d.a.t.a. >> this company is doing incredibly well, but it's regarded as being way too expensive, so therefore we're going to say that discipline -- we're going to let it come down. that, ladies and gentlemen, is the conclusion of the lightning round. the lightning round is sponsored by td ameritrade. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. for all the confidence you need. td ameritrade. you got this.
weak data out of china. as an explanation for the market's hideous initial decline this morning, i think that's just plain wrong. there are two sets of chinese numbers, some weak ones involving imports and some stronger ones covering exports. make no mistake chinese imports, they are horrendous. down an astounding 20%, but the exports were down just 3%, which makes sense. first we have to ask ourselves, is it a shock that imports are down? isn't that what this index i'm always talking measures bulk shipments around the world, but principally china. with its descent from 1,000 to 800? isn't that what the copper are saying? that important numberant ref
pell atorrie at all? this morning we've got what i've been waiting for that no one talked about at all, a resumption in rising car sales. after a three-month decline, that's right ought os sales nicked 3.3% from a year earlier and now 1.75 million a month, something that china obviously needs. i mean, did you see that video of the 50-lane traffic jam? i'm never going to claim about the gw again. that's one tough merger. you could say the consumers reacting to the government's decision to cut the sales tax on small cars from 10% to 5%, still, i don't care. this shows that the stabilization is now starting to put the chinese consumer in a better mood. go from here -- >> the house of pain. >> to here. >> the house of pleasure. >> entirely different address.
we do know that car sales have been hit hard, that made us feel like the weakness was matched by a falters consumers. now you have to ask yourself, if china is so bad, why is the chinese stock market been able to hold above that key 3,000 level. it rallied again last night. sure small potatoes, i expected it to do down, about you if things were as desire as that index number suggests, maybe they would be down harder. i've been saying that some of the commodity producers have begun to blink recognizing, we've seen cut democrat backs in copper, some kinds of paper, zinc, too. i would want to be the demand side pick up. however, one thing is certain if. if china were annoy a major seer considerable and concomitant rebound. to be sure, decline in chinese
xwoerts means expanding margins for pretty much every company that uses these materials. what's most important is the recognition that the damage from china's stock market crash, it seems to be running its course. i don't know when the communist party will stop prop up stocks. however, i do know if you've been stuck, you've been getting a terrific chance to sell. unless you bought from january to june, which is really that terrible peak, you could probably by sitting on pretty big gains and you're taking them. for the first time in ages, at least the first part of the news is good news. no one even wants to talk about it. i don't mind. i got in early on the european turn. now i'm thinking the same thing about the chinese consumer. that's fabulous news for the global economy. stick with cramer.
when a market is too overbought, you'll get news like intel other jpmorgan, but jpmorgan news won't be good and the stock will really get hammered. that's why i'm telling you, we have to wait. if if you want to do profittaking that's nine, but we've come too far too fast. remember my series, we don't think oil will go back to the 30s. we're very overbought. i like to say there's always a bull market somewhere. i promise to try to find it for you. here on "mad money." see you tomorrow.
miranda: the lip gloss tis a healing lip gloss... woman: it's so smooth. lemonis: ...a cosmetic company that uses a special ingredient. miranda: this is my original formula, and it's got medical-grade lanolin. lemonis: it's a big idea with huge potential. miranda: and the company's grown from on my stove to a little over $3 million this year. lemonis: i'm impressed. but the owners won't stop developing new products. what is this? miranda: those are light-up tweezers. lemonis: products that no one wants. layne: these right here are all the bottles i can't sell. -lemonis: all the way back here? -layne: yes, sir. lemonis: and their branding is completely chaotic. -interesting? -katia: mnh-mnh. -lemonis: interesting? -katia: no, that's weird. it just feels all over the place. lemonis: if i can't get them to follow my plan... i don't feel like you're trusting me. ...and develop a whole new look... miranda: i see l's. lemonis: i see something that looks like a swastika.