Bitcoin, Pfizer, GM - Jim Cramer's Stock Market Breakdown - August 23

Bitcoin, Pfizer, GM - Jim Cramer's Stock Market Breakdown - August 23

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00:01
[Music] happy monday everyone welcome to the street live i'm jeff mark senior portfolio analyst at action alerts plus standing live on the new on the floor of the new york stock exchange with jim cramer jim uh we got markets higher today we're seeing you called out on twitter it's a good day when um we see the hong kong market up china oil up what are you looking at specifically today i think that the sometimes this market's not that smart
00:37
i don't think anyone doubted the idea that pfizer was going to be able to get approval but as you look at the cdc and the fda they've been so fickle maybe there are people who are genuinely surprised i know that only three weeks ago the fda was saying maybe we'll prove it in september i think biden pushed it but travel leisure's roaring i oil is roaring but oil bounced at 60 as we said it would and i think that big tech my god we have some great stocks in action alert just some fabulous stocks
01:08
and big tech's on fire and i just think that when big tech's on fire many things work yeah and there's those companies they do have the best business models there they are the secular long-term winners but i do want to touch back into pfizer for a minute uh you did call out the fda just approved the vaccine great news news that many hats all coming but they also announced an acquisition too and you've long been saying that they need to put that vaccine money to work because they do have a patent clip so they buy uh this company called trillium therapeutics what do you think of the deal trillium has got they're close with that investment but trillium's got a
01:39
number of uh of different cancer indications and they're trying they're at the beginning now of all the of many of the trials and a lot of leukemia ovarian this is not something we've seen this with glaxosmithkline but what matters to me is that if you are looking for speculation look for oncological because this stock had been down down down down down and suddenly six goes to 18. and i think that uh pfizer is on the prowl because
02:09
pfizer has to build through a period of of expirations but so many other companies are on on the prowl so uh i've been saying look um anytime anyone calls me lightning realm and says i'm thinking about buying an oncological i always say as long as you recognize that spec but i know that i'm going to redouble my efforts to find more because this was a written off company and pfizer is spending a lot of money to buy it huge more than two billion and i think that means don't give up the ship on any oncology stock if they have trials what would you say so we were in uh
02:40
seattle genetics cgn last year we got in last year i think we sold at the beginning of this year around 190 200 it's where a lot of our sales i know merck has that investment there is that is that uh too big of a play over spec or i think merc needs something merck has probably been one of the worst performers you know uh even bristol is doing better than merck you know bristol does have a connection with uh with this uh uh the alzheimer's drug um that's uh with this p you know his protein but it's obviously not as good as lily
03:11
in terms of just being direct but i i i think that seattle jeanette cjn i we have to go back and and open the books on it because i do believe that merck must do something uh merc can't just stand there and have their stock be at 79 and not expected some maybe activist pressure who knows i mean if they look at advocating i was i was thinking they were going to be pressure on obvious action alert name they've done so many good things that stock is roaring so i feel that uh merck has to do something yeah and we did see cow and they increased their avi
03:43
price target to 1 30 this morning we'll talk more about that on the action alerts plus video right after this but jim i do want to turn our attention back to the markets we're seeing a lot of these beaten down uh travel and leisure names bounced today maybe it's because of that fda approval of the vaccine but on real money last friday you called out how this market can change very quickly uh even in 10 minutes at one point it's maybe it's tekken semiconductors leading in next it's retail or or the drug stocks like abby as you mentioned so from an investor standpoint how do you how do you recommend investors stay so nimble in a market that wants to change
04:14
so quickly well look when you look at health care health care fell so out of favor that you suddenly had to say listen i want to i want to own a health care right now uh the clorox of the world fell out of faith we got to own one of those i think the way to approach it is to actually do something i would typically not recommend every dip there's one that you should buy now don't we we talk a lot even this weekend about well how many stocks can we really own but this is an opening trade today
04:44
and if you didn't have an opening trade like we were telling people to buy disney last week if you have an opening trade well you missed it uh you just missed it and uh healthcare now you missed it so always look this week the ones that are down are the commodity place so uh i don't think they'll stay you know look if you bought oil last week you still buy oil you can still buy chevron so i think you build it i guess ultimately what you get is a portfolio that has pretty much everything but it's when you buy them and i think you have to buy them when they're trashed uh home
05:16
depot was trashed this week how long will that stay trashed i don't know so i'm i'm saying that you buy the dips tend to be uh group related and when you get a chance to buy one of the dips pick the one you know pick the group that has really been uh that's been really beat up i know that sounds like much more of a trader mentality but you and i both know if you can buy wind today i think wind's going to work uh but i think that what's most important is that you buy a company like a disney uh betting on a reopening
05:47
trade and that's it works so keep in mind that what's been happening is the obvious is working the obvious we knew that foster was going to get approval and yet the stocks that would benefit from boston all went up today so i just say be aware and stay away from china no matter what yeah and i think your point about what gets beaten down and then rallies back that goes that speaks to the rotational action that we've really been seeing uh all throughout the year jim now i do want to turn our attention back to bitcoin so it did cross 50 000 today it's the highest it's been since around
06:19
mid-may and we also got some news that paypal is extending some of its cryptocurrency services to the uk this is the first time they're doing this outside the united states so very big news for paypal we know how much cryptocurrency can be a driver of of engagement and activity so um what do you think about uh the the paypal news what do you think about bitcoin at these levels in general i think that robin hood has they've moved from stocks to options to crypto i think that crypto trades very thinly it's over the weekend it goes up a lot
06:50
that's always a very strange thing uh and then sellers come in but there is been there has been a a resurgence of the use of bitcoin in common parlance so i mean the number of people if you go look over the the coinbase conference call tells you exactly how much this thing has become what percentage of people use it or own it and it's staggering i mean you don't talk about like 20 of the people are into into one of these uh uh crypto so i i think it's
07:23
i'm not gonna be like pomp and say it's gonna go to a hundred thousand but it did bounce convincingly off the bottom it does feel good but it's very chart oriented i can't say that bitcoin suddenly i'm seeing it used by a lot of people i am seeing it adopted by like the paypal instance i continue to think the paypal is a good example fintech is very out of favor okay right now it's just very out of favor so what do you do you buy paypal because then fintech comes back in favor i had five serve on this week they're doing
07:52
fabulously squares coming back um i i think that you have to have a recommended list of things that drop and now paypal does crypto and it moves it it's kind of it's kind of whatever you do that you issue a release it works yeah and we've been building a position recently at actionless plus and a new fintech name we'll talk about that this wednesday on our action alerts plus monthly call that we uh that's uh scheduled at 11 30. we will touch every stock we will have 15 questions
08:24
we will touch every stock that's in the portfolio i'll give you a a sense about what i'm looking for uh in terms of trying to find companies that are changing their stripes and refreshing themselves and why that matters and the ones that don't refresh tend to uh go down so we're looking for companies i'll be a little intro about that and then we'll go over each one and i think you'll find that uh hopefully it'll be as enlightening as people last woman had the most people ever but i'm i'm hell-bent on trying to cover every single stock because we have a very good portfolio
08:55
and uh let's go back to a company that was one of the first big name companies to put bitcoin on their balance sheet tesla uh last week they had that big ai day artificial intelligence and they and they uh they took out some plans for like this humanoid robot did you see that the dancing i also saw the actual pickup truck go buy an f-150 and this thing is not just ugly it is i mean you gotta love tesla to get in this thing yeah it is is this more
09:27
about elon musk the showman that we we talked about uh last week well we got two showmen going we got elon musk and we got uh pat gelsier pat writing in bed today i mean pat's everywhere and elon is not as everywhere as we'd like but these are guys who know what to tell a good story i still like tesla because i think that when you look at what happened with gm every single bolt has to be recalled uh i still like tesla because i think it's been unfair the way that the autonomous driving has been handled because there's many more actions from
09:59
drunk drivers but i recognize that uh i think that this pickup truck is going to be a disaster his first disaster i mean it's just and i saw one i mean it's aesthetically not as clean as that f150 lightning oh i mean it's it's an eyesore i mean i think that i mean i i think if you're driving and you see one you're gonna take your eye off the the the front because it's so ugly it's just an ugly thing
10:29
yeah well um you mentioned gm earlier and their uh recall of the bold so it's extended out and really jim uh you know a lot of people like to look at gm ford these stocks are both down around 20 percent from their highs earlier this year do you think what's going on in with gm right now and and the chevy bullet does that extend out to some of the other ev plays or is it more specific to the company about ford in our and our uh very good uh piece about what we do our action works but no they're not the same and a lot of
11:01
that is because did you have chips coming from malaysia or did you have chips coming from taiwan semi uh there is a there was a a hit of coven in malaysia which is gm very much gm that is just shocking people now i know that china they apparently said listen we've contained it and that's positive for everybody but uh ford was much more taiwan semi taiwan semi did not have a problem so beware that if you take them both down at the same time that's just foolhardy
11:31
all right jim and we got a big week this week in terms of uh jackson hole the fed meeting uh you were on real money this morning you're saying that jay pal is they're going to the fed they're going to be right about transitory inflation you call out how some commodity prices have fallen maybe we see some wage pressure ease as more people join the labor force so how should people how should investors prepare or is it of course i mean look toll brothers reports on wednesday if toll goes down buy it i think that the home home builders have had enough of the
12:03
whirlpools charging them anything and the glass companies charge many woodcummies i think that they can actually build fewer homes and let those commodity prices fall i also think by the way that the commodity prices that go into it or a car are going to fall because the chip shortage makes it so they can't make as many cars so i think commodities are going to be under serious pressure now i know that oil balance but remember oil was at 70 going to 75 right copper fell iron collapsed in the last week now uh
12:33
plastics the uh the end what goes into plastics are going down so i think that the inflation that people talk about which is that the endless wage inflation endless commanding place is not planned out and i know that lyft which i have one tonight on mad money is saying look once the unemployment benefits expire the drivers flock to them for additional they want more hours they need more hours because their job doesn't pay them enough uh and i also think that one of the things that's forgotten by these inflation nieces is the productivity
13:05
gains from like a servicenow but if you go over the deer quarter which i almost feel like nobody did it was brilliant it was mostly about autonomous driving of tractors and that's what you need because frankly that guy that guy costs a lot of money that guy costs a lot of money who's in the tractor and we're seeing this over and over again domino's pizza we are able to make it so that the productivity is squeezing out people and those people are able you know going to find jobs somewhere so if you have a surfed of labor then the inflation is going to be
13:35
dead wrong and i think you're going to meet very well yeah and just thinking about productivity we do have sales before they report this week and that's it will be the first quarter really their first time talking since they closed that slack deal so it'll be interesting what they have to say on that front i wonder how much they talk about microsoft versus salesforce tableau versus amazon right they're partners with amazon but just pretty good i think that tableau versus microsoft analytics and microsoft increasing prices by the way on that 365. uh yeah i mean it's
14:06
small enough that i think the it guys may just waive it as 10 years that's one of the increase and that's why microsoft stock has been on fire but you know i think it's the empire strikes back when it comes to salesforce all right we'll definitely look forward to that earnings report later this week that's the show everyone for today i'm jeff marks we'll see you tomorrow [Music] you

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