Caller (8:42)

First of all, I want to thank you on warning us about this downturn. Weeks ago you came on the television and said the tariffs come in, we're going to have problems.

Jim Cramer (8:51)

Okay, thank you. Yeah, I mean, I didn't want it. I didn't want it, but yes, thank you for recognizing I did that.

Caller (8:57)

You saved us money, Jim. And you also said clarity, clarity on these tariffs. And tonight, Peter Navarro was on overtime tonight and gave us a little clarity. But what Donald Trump should do.

Jim Cramer (9:08)

Well, I've been talking to Peter. You know, I mean, I want Peter just be a little more. Look, I know Peter for 50 years and there's a way to be able to talk about this without anger, without rancor, with a smile. Witness witnessed the eight years of Ronald Reagan where he accomplished a lot of things with Democrats because he had a congenial attitude.

Caller (9:28)

President Trump should create the department of stock efficiency dose and he should put you in charge of it.

Jim Cramer (9:35)

Just the market take off the job.

Caller (9:36)

Get a dose of.

Jim Cramer (9:37)

The great thing is I don't sleep. So I do that job in the daytime and then I do the job at nighttime. What stock, what stock we talk about?

Caller (9:43)

Okay, Jim, this next Talk has a 32% upside potential based on the analyst average price target of 145. There's been some good insider buying, but I'm a little bit worried because now that the tariffs are in place, I think the home builders could be affected. And I do believe that this company is a very strong company. Toll Brothers.

Jim Cramer (10:05)

Okay, so listen to me and listen good. It's Doug Yearley. And you know Doug, he, he's the bomb. And what I really care about here is they raised the dividend. And this is the big Floyd fly in the ointment. If President Trump goes after the lumber industry of Canada, then they have to raise the price of homes. You got to hope that the president does not go after lumber, even though that's an area where you could easily take down the Canadians. That would make me want to sell toll I otherwise want to buy it. I want to go to Howard in my home state of Pennsylvania. Howard.

Caller (10:35)

Jim, I've been a longtime investor in Starbucks and the new CEO seems to be making the right moves. However, the Stock's down about 13% from its size this year. Since coffee appears to be a discretionary item and considering Starbucks second largest Investment is in China and the potential tariff problems between the US And China. Should Starbucks be held?

Jim Cramer (11:01)

Sold aboard and you want to own Starbucks. Brian Nichols. Terrific. The stock was up. It shot up to 115. That was a big move. Is parabolic move. It's coming back down. It's more controlled. I think Brian's going to do terrifically. I'm getting my coffee in four minutes. I don't know about you. I think he's instituting the right policies. I think he really knows what he's doing. All right, listen to me guys. Right now the market is trying to tell President Trump that he shouldn't be so rancorous and angry. Just try to get the job done. So to voce under the, you know, just fly lower please. And if he keeps ignoring that message, we could end up a hell of a lot lower than where we are with stocks and with the economy. Oh man. By the time could a Nico Eagle be a golden opportunity for growth in this market term? Well, I'm getting the latest from the miners. Top rates. They know what they're doing. And as tariffs continue to impact the tape, I'm going to be turning the technicals to get a better read. And later I'm revealing what I think could be a winner in the AI space. And believe me, there are some stillings that could be winners in the AI space. Don't give up generative AI. Stay with Kramer.

Bank of America Representative (12:09)

Don't miss a second of Mad Money. Follow Imkramer on X. Have a question. Tweet Kramer. Hashtag madmentions. Send Jim an email to madmoneycnbc.com or give us a call at 1-800-743-cnbc. Miss something? Head to madmoney.cnbc.com for 140 years multicare has been in Washington prioritizing long term solutions, partnering with local communities and expanding access to care. Together we're building a healthier future. Learn more@mycare.org Are you still quoting 30 year old movies? Have you said cool beans in the past 90 days? Do you think Discover isn't widely accepted? If this sounds like you, you're stuck in the past. Discover is accepted at 99% of places, places that take credit cards nationwide. And every time you make a purchase with your card, you automatically earn cash back. Welcome to the now it pays to Discover. Learn more@discover.com credit card Based on the February 2024 Nelson Report, the consumer price index for February Crucial new insight into inflation and the health of the economy. What it means for your investments Right now, stay ahead of the market. Squawk box tomorrow, 6:00am Eastern, CNBC.

Jim Cramer (13:37)

Lost among all the headlines recently is the fact that the price of gold's been creeping back up toward the all time highs, the ones that were just set a few weeks ago. And that's great news for the gold miners, particularly Agrico Eagle, which shot up to a new all time high earlier today. Now this is one of the best operators in the industry. We talk about that with. Hey look, a lot of speculation about the impact tariffs will have on precious metal. Well, we're going to be able to go right to the source and see what's one of the biggest names in the business has to say because frankly I don't understand the interaction between gold and the tariffs. That's all right. Let's check in with Amar Al Jundi and he is the President CEO of Agnico Eagle Mines. Mr. Welcome back to Man Money, Jim.

Amar Al Jundi (14:15)

It's a pleasure to see you again. Always a pleasure.

Jim Cramer (14:17)

Absolutely. Same. Now, first of all, congratulations. These numbers are extraordinary. Your costs are totally, totally in control. The numbers that you're producing, the cash flow that you have, all excellent. How are you able to do all this?

Amar Al Jundi (14:31)

Well, you know, it's, it's, it's very simple, Jim. In our business, if the gold price shoots up $600 last year and if we deliver record production, which we did, and we control our costs, then all of that incremental cash goes to our shareholders. Record cash flow, record earnings equals record share price.

Jim Cramer (14:52)

Well, I think you said very simple and I've interviewed enough gold executives to know that it's not that simple. That many costs get out of control. So many times, sir, I have been in love with a gold company and then the cost got so bad or something went wrong that they ended up not making that much money. Your operating margin is extraordinary, far better than all the other companies I deal with.

Amar Al Jundi (15:15)

Well, right now we're guiding about $940 cash cost and take a look at the gold price. That's almost $2,000 cash margin per ounce. That is extraordinary. I would agree with that. And you know, Jim, it's a tough business. You've been around a long time and you know, a lot of my peers, we've been able to do a good job controlling our costs. You know, we take a different approach. We're more of a regionally focused company and frankly, you know, when you've been operating in the same place for almost 70 years, when you produce more gold in Canada than everybody else combined, you're able to control costs a little bit.

Jim Cramer (15:54)

That's incredible, because Canada is the home of, I think, the safest place to be able to mine. Now, I do want to know. You're in Canada, in Mexico, what your ballpark. I mean, I know, look, Jamie Porter said some good things about what the tariff might be and what they mean. This CFO on the conference call. But I'm still trying to get my arms around, like, what do you do if you're selling it into America from Mexico or Canada, and what does it do to hurt your profits?

Amar Al Jundi (16:21)

Well, the best way to think about gold, Jim, is imagine not that we're mining gold. Imagine that we're mining a currency. So our gold goes to refiners all over the world, and it gets distributed all over the world, and it's the same price everywhere in the world. It's almost like we're mining US Dollars. So we have no. No tariff exposure on the revenue side. We have a little bit of tariff exposure on the cost side. But if you take a look at our business, Jim, 60% of our costs are labor, electricity, diesel in Canada. I'm using Canada as an example because that's where most of our production is. None of those are subject to tariff influence.

Jim Cramer (17:10)

I get it. The other.

Amar Al Jundi (17:12)

The other 40% is a little bit sensitive, but not much.

Jim Cramer (17:15)

Oh, thank you for saying that. Now, I would do want to talk about something very controversial. Those of us who believed in gold for many, many years and are so thrilled by the way that Costco has it, although they run out of it every morning, but we still try, are looking at bitcoin and looking at gold. And bitcoin did explode. And we're willing to have a strategic reserve of bitcoin, but we never did one for gold past Fort Knox. And I'm trying to figure out what you're thinking about just in terms of when you talk to, let's say, the wealthier people, do they want gold more than bitcoin? Now, given the fact that goals had quite a run and bitcoin's topping.

Bank of America Representative (17:52)

Yeah.

Amar Al Jundi (17:52)

I mean, the people I talk to are usually very sophisticated, and they view the two somewhat different.

Jim Cramer (18:00)

Okay.

Amar Al Jundi (18:01)

They view gold as a hard asset, as a currency, and as demonstrated by the fact that central banks around the world are buying gold, in fact, they're the ones buying the most gold. They. That's not a knock on bitcoin. Bitcoin's fine, but bitcoin's almost more like a trade. You know, I don't know what a Babe Ruth Baseball card is worth. It might be worth $1 million to you, it might be worth 10 cents to someone else. But it's a bit of a different animal.

Jim Cramer (18:30)

You're right. I mean, one of the things that I've struggled with, and so does Chairman Jay Powell, is that it's a store of value for some people and for other people it's a trade. Whereas everyone knows that gold is a store of value. Have you discovered more and more people wanting to have gold, personally putting it in different banks in different parts of the world because the world's so uncertain? I keep hearing that from my friends, from the people I talk to, CEOs. They want it distributed around the world. They don't want it in one place, they want it in different banks. Any, any, any feel about that?

Amar Al Jundi (19:02)

Well, let me give you the scariest example I can, and that is there is actual discussion now about forcing foreign holders of US Treasuries to convert into 100 year low coupon bonds. I tell you, if that ever happens, it will be disastrous. But very good for gold because then everybody will have to go into a currency like gold.

Jim Cramer (19:28)

Absolutely. Well, look, but the one thing we never want is what Franklin Roosevelt did the people forget in 1932 when he confiscated all the gold. We can't have anything that has to do with our personal savings of gold. The, anything other than it's ours and they can't tax it. And we put it a safety deposit box, not, not on the ground and not on the mattress, you know that. We put it a safety deposit box and then we live the play again. That's Amar Jr. Which is the presidency of Agnico Eagles Mine, which is the best gold miner in the world. Thank you for coming on the show.

Amar Al Jundi (19:57)

Thank you, Jim. My pleasure, as always.

Jim Cramer (19:58)

Mad money's back, everybody.

Bank of America Representative (20:01)

Coming up, after another volatile day for the averages, it's time to get historical, not hysterical. Huddle up. Kramerica Kramer, circling back to the technicals and revealing how to position your portfolio next. Our state has changed a lot in the last 140 years. We know because Multicare has been here guided by a single making our communities healthier. That comes from making courageous decisions, partnering with local communities to grow programs and services, and expanding healthcare access to those who need it most. Together, we're building a healthier future. Learn more@mycare.org Are you still quoting 30 year old movies? Have you said cool beans in the past 90 days? Do you think Discover isn't widely accepted? If this sounds like you, you're stuck in the past Discover is accepted at 99% of places that take credit cards nationwide. And every time you make a purchase with your card, you automatically earn cash back. Welcome to the now it pays to Discover. Learn more@discover.com credit card based on the February 2024 Nelson Report.

Jim Cramer (21:23)

Yet another day with the average is oscillated wildly on new developments from President Trump's trade war. This time he was talking about a 50% tariff on Canadian steel and aluminum before White House officials later kind of walked the plans back somewhat. We have to ask ourselves how much longer the Wal Mart White House, which brings us every day lower prices for stocks, can keep this up. But as I keep telling you, very hard to predict. President loves to roll out big new tariffs, then roll them back a bit or postpone them, only to find something else to slap an import duty on. So it's tough to get your arms around what we're dealing with here, right? It's fluid. However, I think a big part of the recent sell off is that Wall street feels betrayed. See, the big money guys thought that they were getting a president who cares about the stock market. Now he says he doesn't care about the stock market and that makes them very nervous. They thought they had elected McKinley. Looks like they got William Jennings Bryant. So the monument, well, they got a severe case of whiplash. It volatile markets like this, you know what we have to do, we have to got to take get a read of the fundamentals. I say maybe we ought to fall back on the technicians and the technicals, the charts because it takes your subjective judgment out equation certainly not. Got to get the emotions out of this thing. It's really wild and that's why we're going up the charts. With the help of Jessica Inscription. She's the first woman on the active trader desk at Fidelity. She's now director of investor research@stockbrokers.com she also said she's a co host of a podcast and it's called Market Maker. As Escape sees it, this market has become real ugly. But she's not sweating the trade war. See, in her view, we've seen this movie before during Trump's first term. Take a look at this chart of the action. The S&P 500 from January 2018, when Trump's first trade war kicked off, through the end of his term. Now if you put $1,000, that's there, you put $1,000 in the SB at the beginning of the trade war with China 2018. Then you held it through January of 2021. Well, guess what? You would have had $1,841 and an 84% gain in three years. I'm calling that pretty good. At various points in 2018, the S&P 500 had substantial drawdowns, putting a major pullback in the fourth quarter of that year. When Covid hit in 2020, there was another huge pullback in which the market lost about a third of its value. The ideal moment to buy at the start of the first trade war, 2018, was about three months in when the market had been obliterated and Wall street was ready to throw in the towel. Sound familiar? So even if you think that this is insane policy, and a lot of people do, even if you're convinced we're headed for a recession, a lot of people are, that's still not a reason to give up on the entire asset class. If you just bought an S&P 500 index fund in early 2018 and sat on your hands for the next three years, hey, come on, you would have made it like a bandit. Granted that you would have done even better if you waited a few months for the average to come down. Timing's real hard. Even if you bought at the worst time, you still may plan plenty of money if you kept it. Now, let's go through the recent action here, starting with this weekly chart of the S&P 500. In estimation's opinion, pretty ugly chart. No kidding. You probably think it's ugly too. She likes to track the 13 week, the 26 week series and the 40 week moving averages that translate into 1, 2 and 3 quarters. And right now all these key moving averages are slipping downward, meaning we've got a real strong bearish trading cycle. And it says it's going to stay bearish until the S and P breaks out above its 40 week moving average at 5,769. So it's got to go up here. That's up nearly 200 points. All major defensive lines have been breached and they're now acting as resistance. Worse, the downturn down, down momentum is pretty extreme. Okay, now how about the daily chart, the s and P500? Oh man, this one is even uglier. Okay, look at this thing. Well, I mean, come on. Inskip points out the S and P has fallen through the the bullish cup and handle formation that gave us such a positive backdrop going into the election and led to the big post election rally. All these gains have been erased. The key resistance level is up almost 100 points. That's huge. Now we've nearly pulled back the levels last seen in August of last year when everyone was worried about a recession because inflation wouldn't go away, meaning the Fed had no reason to cut interest interest rates. Then we got a cooler than expected inflation meeting and the market bounced right back. I think it's important to remember that good things can still happen. The Fed could turn things around with rate cuts or the Trump administration could turn things around taking a more methodical approach to the trade, which remember, I'm in favor of tariffs. I just want to be methodical. Of course, if we get an excessively hot inflation meeting nightmare. Now let's talk about the S and P equal weighted. Okay, equal weighted chart which is all the same stocks as the s and P500. But rather than weighing them by market market cap, these are all weighed the same. Now we like this one because it lets us see what the market would look like without the influence of the mega cap tech stocks. Notice we don't use the term magnificent seven anymore because they're not magnificent. Sure enough, the S and P equal weighting is a lot less volume the S&P 500. But you know what? It's still pretty ugly. Inscript notes that we got a bearish trading cycle here too at the 13, 26 and 40 week moving averages. Remember, those are up there. Okay, they're, they're going in the wrong direction. However, this index has been coming down with a lot less momentum than the normal SB500. If the SB equal way keeps breaking down and falls below 6691, InScript says we risk a bearish cycle emerging. That level down about 350 points from here needs to be maintained. On the other hand, the SB equal weight can actually finish the week above the 40. Okay, so you got to get above. She'd find that someone encouraged. Encouraging. Finally, let's take a look at tech as represented by the X. Okay, this is a spider fund that. Oh man, I can't even look at it frankly. She says it is strong bearish momentum and that it might be putting at strong bearish. I mean this is the definition of bearish. The S and P Tech ETF has a floor support at 205, down 3 bucks and change from here, which represents the trend high from back in March of last year, the higher low in May and the gap up in August. She says this is a tested and key level. But if it fails to hold the X okay. Could then drop to 190. If tech keeps coming down, she expect the 200 day moving average to come down to the 190 level. And when that happens, we might have a true bottom on our hands. But she's definitely not willing to call a bottom right now. I'm not getting any positive eyes from this stuff. Let me get a bottom line here. The charts interpreted by Jessica Inskip do not paint a pretty paper picture at all. It's not sugarcoat. However, she also points out that if you bought stocks the last time President Trump started a trade war, Wall street flipped out, yet a huge gain by the time he left office. Maybe that's the best takeaway. And if you bought during the trade war lows, then you made up fabulously. Now, I don't think we're anywhere near there yet, but I also think we're getting closer. I want to take some calls on this discouraging day, although certainly less discouraging than yesterday. Let's start with David in Texas.

Caller (27:58)

David, hello Mr. Kramer. I'm a first time caller but longtime.

Jim Cramer (28:04)

Follower all the way back the dot com bubble. Oh my. Then you really are with me the whole way and I really appreciate that. I love long termers. How can I help?

Caller (28:15)

Well, a year or so back you had the CEO of this company on the show and this Stock in the 30s, I believe it's been a good one. Stock recently hit a high, a little over 500 a share. With the recent market pullback, it's fallen into the two 50s a share. Mr. Kramer, how do you feel today about stock symbol app?

Jim Cramer (28:36)

Love and thank you. This is one of the greatest momentum stocks of all time and they deliver huge cash flow. At the end of the year, I think the stock can bounce. But I am not going to go out there and be real bullish because any stock to be cut in half that quickly is not a stock I want our people in. And I thank you for support. But I don't like stocks to be cut in half like that. Let's go to Joel in New Jersey. Joel.

Caller (28:57)

Hi, Jim. Joel from New Jersey here. Berkshire Hathaway is near all time highs with tariffs in play. Do you still see it as a.

Jim Cramer (29:05)

Good value buy or not even? I'll tell you the truth, I'm not even going to spend a second on it. That's how much I like it. And by the way, it passed Tesla. That's one of the reasons why I say that I banned that particular term that involves Steve McQueen and Neil Brenner. I won't say it on the show because Berkshire snuck up their pat and a couple others have snuck past Tesla So how can you have seven stocks if one of them is the 10th? This is a terrific stock. And the last quarter I read the quarterly report. It's just. It's smoking. Just don't just own it. Why don't we go to Ryan in mi Which I guess is Missouri. Is that. No, Minnesota. Whatever. Michigan. Hey, am I. Man, I forgot it's been so long. Michigan, go ahead. I'm sorry. Ryan, what's up?

Caller (29:47)

Hey, what's up Jim?

Jim Cramer (29:49)

I was. I don't know. I mean you know, I thought that we had a positive day going tell you Ryan. And then there's just too many people who are nervous. Too many people are worried. How can I help you?

Caller (29:58)

Oh yeah, I thought the day was pretty good too. I was curious about Netflix.

Jim Cramer (30:03)

Oh, don't be curious. It's terrific. It's subscription revenue. I'm going out three. I'm going to give you one in threes. Netflix has subscription, Amazon subscription and Spot Spotify a subscription and subscriptions are one of the great. Having started a subscription business and had modicum success I can tell you there's nothing like a subscription for just the day to day cash flow. You should own Netflix. They've done a very good job. I thought the De Niro thing was good. It was done by no Apple and used to work with us. I don't know, whatever. People get the. I like Netflix anyway. Look, if you bought stocks the last time we had a trade war to Trump, guess what? You did really well which had to hold it charts don't paint a rosy picture for the market right now though. And I. I do think we're closer to the end than the beginning. That's my own judgment. I'm not thrilled with what's happening much more me have money ahead. As the market volatility continues, I'm leaving those stone unturned. Tonight I'm revealing a buying opportunity in one of the hardest hit sectors. The AI infrastructure space which everybody hates. And after today's tariff news I'm doing a deep dive on the potential cost sector sector effect of these headlines and of course oil quality rabbit farm. Tonight's edition of the lightning round. So stable crank it is time for the light. First time I stand first and then the lightning round is over. Are you ready Scott? Daddy. Time for the light around cameras man. I want to start with Jake in New York.

Caller (31:31)

Jake, what's up Jim, how you doing?

Jim Cramer (31:35)

I'm doing fine. Jake. What's up with you buddy?

Caller (31:38)

I'm okay. I would like to shout out your.

Jim Cramer (31:41)

Crew Though great crew is unbelievable. They make me look good and I'm grumpy and they're not. What's up?

Caller (31:48)

So I feel like everybody's a little excited about, you know, tariffs and we can like, you know, we make plastic stuff in China for like pennies and we sell in the US for like tens of dollars and that's no big risk. So my question is about Crocs.

Jim Cramer (32:04)

Crocs, Crocs. We got on holdings at 45 and you come to me with crocs. Come on, man. Jake, step up to the plate. Crocs. No on yes. All right, now we're going to go to Mike in Connecticut. Mike.

Caller (32:17)

Jim. Jim, thanks for taking my call. And I have to thank again you and staff. You've been so valuable throughout the years.

Jim Cramer (32:24)

Well, we got got a good sip in 20 years. It's like 20 years now. Like what's that all about? I guess when I'm, when I'm 25, they'll give me a gold watch. That's okay. I got an Apple watch. What's going on?

Caller (32:34)

All they can say is they take that off spin. This stock is very cheap right now. Last year it had a reverse split and usually that's a sign of weakness, but I don't think so in this case. And it also spun off from Liberty Media last year. What do you think about Sirius Radio?

Jim Cramer (32:53)

No, I'm going to disagree with you on this one. Plus, you know, it is related to autos and autos aren't selling well right now. And that's going to be. Everyone's going to know that I just told it to you right now. Everyone's going to know that we're going to stay away from Sirius. It's just not a serious stock at this point. I need to go to Stafford in California. Stafford. Hey, Jim, how are you? All right. How about you, Stanford?

Caller (33:12)

I'm okay, thanks.

Jim Cramer (33:14)

I want to get your thoughts on AutoZone in this type of economic ACO. I love it. They buy back with so much stock. It's really incredible. I think those guys are fantastic. Let's go to. I don't know, how about you go in Ohio? You go.

Caller (33:28)

Yes. Jim, it's always a pleasure to be back on your show. Thank you very much for your doing. My question is tonight.

Jim Cramer (33:37)

That's great. Yeah.

Caller (33:39)

What do you think about Timkin symbol? Tkr?

Jim Cramer (33:42)

The TKR kind? You know what, they're too late right now. They're levered to a bunch of industries that are really slowing down. As much as I like the company very much. I'm going to have to say no to Timken tkr. Let's go to Sandy in New York. Sandy.

Caller (33:58)

Thank you, Jim. This is Sandy from Syracuse, New York. The future of potentially Micron. So I'm wondering if I should sell or hold on to my Micron share.

Jim Cramer (34:07)

Okay. So Micron is going to be under pressure. They took some money from the government. It's not their fault. It was the money they were giving away in the chip program. If they come after. If President Trump comes after Micron, he's coming after me. But Sandra Maroza is really terrific and he's been an amazing man who has built a manufacturing empire in our country along with his predecessors. That's the jewel of our country. Please don't go after that one. President Trump. Let's go to Charles in New York. Charles. Thank you, Jim.

Caller (34:36)

I'm a big fan of your show and I've been a club member since virtually the beginning.

Jim Cramer (34:42)

Yes. That's fantastic. Big call on Thursday. You want to be there? I'm going to. I'm going to take apart a couple of tech stocks. What's going on?

Caller (34:50)

I've been holding the gentleman for a long time. Time now. And it's doing great. And I agree with you that the staff are geniuses. Done fantastic things.

Jim Cramer (35:00)

Absolutely, absolutely. And yet since August, the price, since I saw Len up there at the Saratoga racetrack where I hit big, by the way. Thank you, Vinnie, for that little tip. But I will tell you this for Generon, I want you to own it. I think it's doing better than people realize. That is a good stock and I'm going to give it to for I still like Crystal Myers and that. Ladies and gentlemen, conclusion of the Lightning Round.

Bank of America Representative (35:26)

The Lightning round is sponsored by Charles Schwab. Coming up, tariff turmoil continues to roil the market. What Trump's approach could mean for your money. Next.

Jim Cramer (35:47)

It is time. Starting the Lightning Round after rappers what he's hitting the name of stock 35. I stand first grabs while you play this out and then the Lightning Round is over. Are you ready, Steve? Dabby? Time for the light round. Cameras, man. I want to start with Jake in New York.

Caller (36:02)

Jake, what's up, Jim? How you doing?

Jim Cramer (36:05)

I'm doing fine. Jake, what's up with you, buddy?

Caller (36:09)

I'm okay. I would like to shout out your crew, though.

Jim Cramer (36:12)

Great crew who is unbelievable. They make me look good and I'm grumpy and they're not. Let's talk.

Caller (36:19)

So I feel like everybody's a little excited about you know, tariffs and we like, you know, we make plastic stuff in China for like pennies and we sell in the US for like tens of dollars. Not no big risk. So my question is about Crocs.

Jim Cramer (36:34)

Crocs, Crocs. We got on holdings at 45 and you crocs. Come on man. Jake, step up to the plate. Crocs no on yes. All right, now we're going to Mike in Connecticut. Mike.

Caller (36:47)

Jim. Jim, thanks for taking my call and I have to thank again you and staff. You've been so valuable throughout the years.

Jim Cramer (36:55)

Well, we got a good 20 years. It's like 20 years now. Like what's that all about? I guess when it's 25 they'll give me a gold watch. That's okay, I got an Apple watch. What's going on?

Caller (37:04)

All I can say is this stock is very cheap right now. Last year it had a reverse split and usually that's a sign of weakness but I don't think so in this case. And it also spun off from Liberty Media last year. What do you think about Sirius Radio?

Jim Cramer (37:23)

No, I'm going to disagree with you on this one. Plus you know it is related to autos and autos aren't selling well right now and that's going to be everyone's know that I just told it to you right now. I don't know that we're going to stay away from serious. It's just not a serious stock. I need to go to Stafford in color in California. Stafford. Hey Jim, how are you? All right. How about you Stafford?

Caller (37:43)

I'm okay, thanks.

Jim Cramer (37:44)

I want to get your thoughts on AutoZone in this type of CEO. I love it. They buy back with so much stock. It's really incredible. I think those guys are fantastic. Let's go to. I don't know. How about you, you go in Ohio. You go.

Caller (37:58)

Yes. Jim, it's always a pleasure to be back on your show. Thank you very much for you doing my question is tonight.

Jim Cramer (38:07)

That's great. Yeah.

Caller (38:09)

What do you think about Timkins symbol? Tkr?

Jim Cramer (38:13)

The TKR kind. You know what, they're too late right now. They're levered a bunch of industries that are really slowing down. Especially much as I like the company very much I'm going to have to say no to Timken tk. Let's go to Sandy in New York. Sandy.

Caller (38:29)

Thank you Jim. This is Sandy from Syracuse, New York. The future home of potentially Micron. So I'm wondering if I should sell or hold on to my Micron share.

Jim Cramer (38:38)

Okay, so Micron is going to be under pressure. They took some money from the government. It's not their fault. It was the money they were giving away in the CHIPS program. If they come after it, press. President Trump comes after Micron, he's coming after me. But Sandra Marrota is really terrific, and he's been an amazing man who has built a manufacturing empire in our country along with his predecessors. That's the jewel of our country. Please don't go after that one, President Trump. Let's go to Charles in New York. Charles? Hi, Jim.

Caller (39:07)

I'm a big fan of your show and I've been a club member since virtually the beginning.

Jim Cramer (39:12)

Beginning, yes. That's fantastic. Big call on Thursday. You want to be there? I'm going to. I'm going to take apart a couple of tech stocks. What's going on?

Caller (39:21)

I've been holding the gender on for a long time now, and it's doing great. I agree with you that the staff are geniuses, done fantastic things.

Jim Cramer (39:30)

Absolutely. Absolutely. And yet since August, the price, since I saw it, since I saw Len up there, to Saratoga racetrack, where I hit big, by the way. Thank you, Vinnie, for that little tip. But I will tell you this for Generon, I want you to own it. I think it's doing better than people realize. That is a good stock. And I'm going to give it two for I still like Crystal Mars. And that, ladies and gentlemen, conclusion of the Lightning Round.

Bank of America Representative (39:56)

The Lightning Round is sponsored by Charles Schwab. Coming up, tariff turmoil continues to rain roil the market. What Trump's approach could mean for your money next tomorrow, kick off the trading day with Squawk on the street, live from post nine at the NYSE.

Jim Cramer (40:24)

Look. We look back at the 1980s as being a halcyon period. In retrospect, Reagan did it with a happy warrior smile. I don't see any smile here. I see meanness. America don't like meanness. That's not our country. Meanness. Well, not meanness. She's been more like Steve McQueen.

Bank of America Representative (40:42)

It all starts at 9am Eastern.

Jim Cramer (41:02)

When it comes to tariffs, there are two ways to do it. You can burn the forest down or you can do a control burn. Right now with Canada, we're opting to burn the forest down. Let's go over this. I think Trump's heart is in the right place decision. Our alleged trading partners are absolutely taking advantage of us. America is the only country that plays by the rules on trade. We love getting cheap stuff, even if it devastates entire industries here. But President Trump needs to explain his reasoning and he needs to roll the tariffs out in a systematic, non capricious way. If he did this methodically, if he spoke softly and carried a big stick, I think you'd get a lot done. That's the controlled brush fire that shows we can handle things. Not personal, just business. Instead, we're using flamethrowers and high explosives and they aren't working. It's telling that the greatest success President Trump has had so far is with Mexico, because it's been quiet and forceful. Trump spoke softly, but carried a big stigma of Mexo, like Theodore Roosevelt. Well done. I understand that Trump felt trapped by Mark Carney, the Canadian Prime Minister designate who came in way too hot and very unlike himself, actually. I get it. The Canadians were hopping mad. Carney poked the bear with his rhetoric. Sure, Trump shouldn't be calling Canada the 51st date. Got to stop that too. But he's got the cards. He can get away with it. The problem is, when it comes to Canadian aluminum, we don't have the cards because we've been steadily closing aluminum smelters for years for a multitude of reasons. Expensive, dirty, crummy management. Reuters reports that the vast majority of our imported aluminum comes from, yes, Canada. A 3.2 million tonnes can and Canadian imports were twice those of the next nine countries combined. There's no way to make up for that. Which means if this 50% tariff gets implemented, it's going to get passed on to you. Cars, trucks, planes will all get more expensive because we have no choice. We can't get enough aluminum from anywhere else. It doesn't work. So prices must go up for the vehicles of every major auto company, including the one you buy. And how can the Hubble, Boeing, which builds planes mostly out of aluminum, handle it? I have no idea. 70, 80% of their planes are aluminum based. I don't think any execs involved say anything. Oh, come on. They'd all be eviscerated by Trump. If they do it and they know it, believe me, I know it. Plus, if Canada doesn't play ball, you have to assume the President will go after their lumber industry. Almost 30% of our lumber comes from Canada. That will make our housing totally prohibitive. It would cause a real recession quickly, I think. Look, we don't have any choice with lumber. Unfortunately, these trees, they just don't grow fast. Back to life. Very inflationary. Where's artificial intelligence trees? These auto and aerospace companies are gigantic employers. The last bastion of high paying, union based factory jobs that Trump says he likes. They are the base, so to speak. I don't know how we're going to deal with this without laying off the base there for Trump should recognize it. Look, I wish it weren't. I wish it were as simple as reopening old aluminum foundries. We can make up the difference on the steel tariffs because we have spare capacity when it comes to aluminum. Canadians, they got a corner. Trump doesn't realize that the stock market isn't some idle abstraction. It's a barometer of how the country's doing. It's a barometer of how people are feeling. The numbers, according to the Washington Post, indicate the vast majority of people in this country have no idea why this is happening. They know it's worrisome, worrisome for them. And they're spending much less than they did even two months ago. Some remember that they were taught in school that tariffs were bad. Others know that their jobs are in jeopardy if consumer sentiment turns very negative. This is a service economy. They don't want to lose their jobs because of tariffs on Canada. They thought Canada was okay. That's what happens when you cause a forest fire instead of a controlled brush fire. Unless the president's less impressed with William McKinley and more impressed with his successor, Theodore Roosevelt, it won't just be a forest he burns. He'll end up burning down the whole village in order to save it. I like to say there's always a bull market summer. I promise. Try to find it just for you. Right here on Money. I'm Jim Kramer. See you tomorrow.

Bank of America Representative (44:35)

All opinions expressed by Jim Cramer on this podcast are solely Kramer's opinions and do not reflect the opinions of CNBC, NBCUniversal, or their parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, Internet, or another medium. You should not treat any opinion expressed by Jim Cramer as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Kramer's opinions are based upon information he considers reliable, but neither CNBC nor its affiliates and or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. To view the full Mad Money disclaimer, please visit cnbc.com madmoneydisclaimer Our state has changed a lot in the last 140 years. We know because Multicare has been here guided by a single making our communities healthier that comes from making courageous decisions, partnering with local communities to grow programs and services, and expanding healthcare access to those who need it most. Together, we're building a healthier future. Learn more at multicare. Org.