 Good Monday morning everyone. We are on the floor of the New York Stock Exchange with Jim Cramer to talk about the markets and Jim Let's begin with Merck CEO Ken Frazier stepping down from Trump's business council. Everybody has the right to speak to mine The president has the right to speak as mine Merck's CEO has the right to speak as mine. Mr. Frazier is known as someone who has held the line on Drugs by not overhyping his drugs. He could have much bigger sales of quichruta So I certainly applaud mr. Frazier for speaking his mind I think mr. Trump had every right to be saying hey, listen, you know that that's not what I wanted That's certainly right. I would not have done the he's going out of gouch prices because that's not been mr. Frazier's way So I think that people can agree to disagree without name calling Now you can say well wait a second Frazier name called Trump But you know, I can just tell you that if you look at the drug industry, mr. Frazier is kind of renowned as someone who is Uh not hyped to struggle so he can have more sales. And so I would hit him for anything, but not that one Oh, why aren't we seeing farmer stocks drop on that trump tweet about ripoff prices? Well, because He's not done anything along those lines. And um, but I'd like different vice president pencil in this He's very close to Eli Lilly an actual urt name. Um, because uh, the president's bark has been worse than his bite Now maybe suddenly he turns on the industry because of mr. Frazier You know, that's part of it's a different world now. Maybe that's what he does Do you think we'll see more ceo's depart from trump's business council? I think it's um If if there's measures of conscience Yes, uh, because uh, there were people who weren't happy with greenhouse and you know, look he's imagine put together a manufacturing council um, and there are people who have many different constituencies and Mr. Frazier has different constituencies And he can't just be uh his only now you can say well, listen his constituency like the marines his country And but I think that mr. Frazier would say My constituencies country too and my view of the country is different from the president But um, these are tricky issues because we're not used to seeing um Retribution so quick as opposed to I understand what mr. Frazier says and I wish him well But that's not our president's style And I think we all know that when you take a stand against the president you should expect Uh, a harsh retribution. That's the way he is and you know when you throw your lot in with the president You know disagree with and you disagree the president. I expect that you're going to get hammered So I think everybody on the council should recognize that they can get hammered if they leave that that's kind of his way And we have to get used to his way is what I'm so we have to get used to it. I mean mr. Frazier I think uh when he left, uh, I think he had to expect that it wouldn't just be I wish you well because that's not been the president's way. He's a different kind of president All right, jim. Let's move on to the markets. The Dow is back near 22 000. Can you explain this market rebound? Well, I mean, you know a lot of the sell-off was because some people came on air were very bearish and CMBC A lot of the sell-off was because there were people who expected that there could be nuclear war I think that what happened is is that the Chinese showed their true colors, which is if you attack north korea you attack us Not unlike in 1951 Um, and I think there was a genuine recognition that who the chinese are They've always been the same. They've always been the principal backer of north korea. I don't I never understood why people don't understand that um because There's never been a moment in history that there's been any distance between north korea and china And uh general mccarthur thought there was and he was fired for it And jim I saw on your real money column you you talk about the importance of listening to yourself explain that for us well, I mean, I just think that that before you when you look at the long run of a netflix or an apple or a facebook and people say Well, why didn't I have that and the answer is is because they're usually scared out of stocks Now some of them just made so much money that they took money off the table and there's never anything more to take your profit But I think that there's a um There's a level of fear that can be stoked very reasonably Um, but if you read my if you read confessions of a street addict I talk about the need to be responsible and the need to be able to say okay Look, just because a guy whether it's me whether anybody else says it's time to get out. Remember they could change their mind Uh, and and you have to do your own work because you're not going to find out if they change their mind. So those who do what a Money manager say whether it be to buy the banks then it turns out they sold the banks Whether it be buy macy's then macy's doesn't work in 70 and it goes to 20. I think you just do your own work Um, I I favor index funds Uh, and I favor putting money index funds and put uh each month and then when they really get hit into given year You can put a couple of months to work then Uh for mad money, I think that you have to let that money ride as long as the story checks out Uh, but I understand I I don't like see fear Of of of losing money in apple has kept people from owning apple fear of of facebook I dropping suddenly, uh has kept people from owning facebook And I just think that fear of list, you know, when you hear a manager who's very fearful Or is you know just saying listen, maybe you're too complacent what I'm urging you to say is okay Well, listen, maybe I am complacent your term But I have a a faith in a company in management And so therefore I side more with warren buffett who's an index fund aficionado than I do with mr. Marks Speaking of reasons to buy stocks on this monday on squawking the street you highlighted vmware Well vmware pre-announced better inspected quarter Let's also talk about bitcoin crossing 4 000 any thoughts there. Well that bitcoin is um It's sui generous. I mean what bitcoin does Uh is not fathomable for me I came out on the good wife and said bitcoin should be bought at 200 And i'm on record who else said that it should be bought at 200 I don't think anybody did and I wouldn't have said it if I didn't agree with it What a call that was. Yeah, I said, okay, that's reason I didn't have to say it But you did and we're glad you did. Yeah, you can go I get royalties all the time for when it runs So jim is this going to help nvidia which had uh Nvidia actually talked about it. Uh amd would not give it any credit nvidia I think because it's you know, so it's a big use of nvidia There are people who said nvidia is not connected with bitcoin And they just said they were on on the conference call There's a lot of disinformation about about these cryptocurrencies, but Nvidia directly related some of the strength in the quarter of which it was great You should read our john so he's the best on it to uh to cryptocurrencies All right, jim you mentioned netflix earlier. They've just hired shondra rimes from abc I think if you go read buster cohen stuff and he did a a lot of stuff on netflix You have to go into the archives. I hope you can call it up Um at c o we n I think what you recognize is that netflix saw disney coming And it's worked very hard to be able to develop Programming in case others pull It's not essentially important as it used to be. All right moving on proctor and gamble taking a shot at nelson pelts Yeah, I mean they said his agenda is you know kind of selfish, but his agenda is to have the stock go up so I would have picked I that's an ill advised way to attack and I think Our jim will end as we always do with earnings to watch we have two retail names tjx and home depot Well tjx has been acting terribly and we on a fraction alert home depot has been acting terribly I I think that um they both have longer term theses tjx if you listen to macy's and you listen to Jc penny, you know that they have a lot of merchandise. They all floated and that's usually very good for tjx And I think that that's you know a major focus I think that home depot Stock has come down. They're really levered to household formation Less than they are levered to what amazon may be doing. All right jim before we let you go You're wearing a red tie. You made a lot of tomato sauce this weekend. Yes, I did and you know I had my whole family doing it and it's something that I really care about so I ran a bunch of pictures and It is a great fun to cook with your whole family Everybody has a job to do and I like it very much jim kramer. Thank you so much as always All right for more information on the stocks jim mentioned. Please head back to the street.com