 All right, good Wednesday morning, everyone. We are on the floor of the New York Stock Exchange with Jim Cramer and Jim. We have to acknowledge this terrible shooting of the congressman in Virginia. I think that I have a couple minds of one, obviously. Anyone who's heard, I hope, gets better, speedy recovery. To the notion that you can put some Congress people together, one of baseball field, and not feel like that that is a potential target has changed as of today. And then let me just have one other thought, which is that whether you're a Republican or a Democrat, perhaps you take stock of this, particularly if you're in the media in any form and say, you know what, I don't want to be part of what may have made it so that the discourse has gone from being unruly to being violent. Those who encourage violence in any way because they think it's funny or entertaining or because they're so angry, maybe they should dial it back. Now, there are so many people in the world now on social media who might say, well, Cramer's against the First Amendment. No, unforcibility, I've seen a lot of civility in my life. That does not mean that there haven't been many times where things got out of hand. But I just think it's an interesting moment to just reflect that we all know people who have been disciplined on a one-for-one basis, on an individual basis for what they've said and that maybe collectively there's a lesson here. And collectively, we don't want to get into what Michael Semblis, the great analyst, the great senior commentator, JP Morgan has said, which is that we've got the worst partisanship since the Civil War. The partisanship's clearly out of hand. People immediately, when I even said this on social media, said it's the Democrats, no, it's the Republicans. And that shows you that it's really out of hand. Well said, Jim. All right, we'll continue to monitor the developments out of Virginia. But we're going to move on to news of the day topics, the Federal Reserve statement, obviously, today. What is the housing stock impact? This is a tough situation for the Fed, because we got retail sales that weren't that good. We obviously have hit a wall on consumer lending. We've got peak autos. We have some housing that's tepid. We have rates that are down severely on these numbers. At the same time, we've got some average wage increase numbers from the Bureau of Labor Statistics this morning that were a little more positive. But I think the Fed's caught in a hard spot. They have to articulate why we have to get back to normal and that the numbers that we're seeing are normal. When I say normal, I'm talking about a normative not great economy as opposed to a systemic risk economy, which is where the rates were. I don't think that you can take rates one and a half, two, and really herd the economy. If as long as you do it slowly, I do worry about the number of bonds they have. I wish they were selling the bonds first. But that's just my own predilection. But I don't want people to recognize that if you're selling the bank stocks, it's because you really think that they're going to change their view based on some data that we've had in the last four weeks. And I don't think they do that. I think that they say, listen, we are going to have to get on course to have a normal series of rates. And when we have the normal rates, we will then begin to address the idea of whether there's a slowdown or an acceleration. All right, speaking of the bank stock, Citigroup is expecting a double-digit drop in trading revenue? Yeah, well, Citigroup is not as focused on trading revenues as others. Now, we did sell some Citigroup fraction alerts. But what's important about Citigroup is that if you believe in deregulation and if you think deregulation extends past the Treasury, remember, they're going to buy back 7% of the company this year and 7% next year, regardless of what the trading revenues might be. Because the franchise is strong and the stock is trading below book value. All right, meanwhile, another action alert's name, Starbucks downgraded at Wedbush? Yeah, I mean, that was one which said that there's been tremendous appreciation in Starbucks of late, even though the story is kind of well-known that they're accelerating versus where they were. Now, that's a kind of call. It's a very interesting call because we have to make these all the time for action alerts. That was a call that we sold some $63.64. Why? Because we thought it had gone up too fast and it was now beginning to reflect too much positive. This analyst may have made this ill-advised moment because now the stock's all the way back to where it was before it took off. So if you're going to do that kind of timing, your timing has to be better than that. You should have made that downgraded $63.64 because now you're boxed in. If we go to 58, you can't do anything. We'll be able to buy for action alerts. All right, then another note out this morning from Morgan Stanley saying that Tesla should face competition from Apple. Yeah, you know, I read that. I mean, Morgan Stanley has been doing a lot of very creative thinking about Tesla. And I think that's important because Tesla is not bound by the four walls of automobiles as obviously trading as a tech stock. I think that piece is ahead of itself. It's a nice theory. I don't like to invest on theoretical investing. I like to invest on harder facts and numbers. So I'm having trouble with that. But I think it's a good something to noodle on but not to take action on. All right, and then also NVIDIA's price target was raised at Goldman Sachs. I think the reaction to that, which is that NVIDIA is down, is indicative that that call was made too soon, too fast. I would point out that NVIDIA gained, beginning at 230, a lot of points and then continued to gain after hours. So that was a piece that should have been done midday yesterday when you have those traders come in and bid it up. And I don't know. I don't think anyone had the golden call. I think people expected someone would raise targets NVIDIA because this NVIDIA switch chip in Nintendo is very high demand. But you're getting a chance to buy NVIDIA. Now, there are the reversal people out there who say, well, NVIDIA opened up and then went down. Let them clear out. But I do like NVIDIA longer term. It's entirely possible that we could look at this period between 120 and 150 in NVIDIA and say, I can't see it on the long term chart. Just be aware that that is a more likely scenario than thinking that NVIDIA goes back to 100. Now, we had a Jeffrey Gunlock note out tonight. He has amped up his negativity, negativity, negativity. And he's saying that the market is dramatically overvalued. I would point out that there are some parts of the market that may be heightened in value. General Mills, OK? I'm bringing this because I'm transitioning to Gunlock. Just bear with me. General Mills, but then there's option to be General Mills. And General Mills goes higher, OK? NVIDIA goes lower because right now it's on a trading basis. It might have moved up. I'm trying to get away from trading basis calls. I was on Scott Wapner's halftime show the other day putting on my trading hat. I used to put on my trading hat much more when I felt that people really wanted to go in and out of stocks. I now find that to be a little providing less value for people because I'm not trying to get them in Starbucks at 58 and out at 62. I'm not trying to get them in NVIDIA at 148 and out at 151. I'm trying to say that NVIDIA could be a great growth stock. I'm trying to say that Starbucks is back having great growth. And then you can do what you want with it because that's the directional trade. Arnind, then the AOL Yahoo saga coming to an end with the merger. I listened to Tim. Tim Armstrong had known Tim for a very long time. He's a very steady hand. He was asked about Marissa Meyers, her pay package. And obviously, that's a sore thumb for a lot of people. I would point out that the stock didn't appreciate. People then say, well, appreciate because of Alibaba. I am a person who doesn't look through the record if you made the playoffs because everybody went bad on the opposite side, you didn't make the playoffs. She made the playoffs. Do I want to take the money away from her? I know. I don't even care about her. What I care about is that will Yahoo be able to, with AOL, monetize all those hundreds of millions of people they have to the point where it could be meaningful for Verizon? Not initially, maybe not even three years. But if you had to pick someone who could do it, it would be Tim. Tim's a visionary. Tim is a no-nonsense guy. And I have liked his views about doing big things on the web and that the idea that the only players are going to be Google and Facebook seems wrong to me. All right. And then more management troubles at Uber and another board member resigning. Yeah, yeah, private company. Bonderman and TPG. Well, maybe that's unfortunate. I mean, I don't want that to be his legacy. We're in a time where that company, you should have had a little more sense of what to talk about. But that company, the more we hear about it, the more we think that it was an unruly fraternity. But even that, when you start talking, we're in such a politically charged environment, let's just say that it didn't sound like a great place to work. OK. And then Jim will end, as we always do, with earnings to watch. What are you expecting from Kroger? You know, I think Kroger, the big bugaboo on the supermarkets is that there's not enough food inflation, that they're buying it at one price and then having to sell it lower. If you want the best description of it, two quarters ago, you go to Costco and read Mr. Galanti's comments on the conference call. He explained food inflation better than anyone. He did think that food inflation would pick up in the second half, which would mean that Kroger's directional trade is up, not down. All right, Jim, that's it for stocks. But we know you're hosting a conference call for actual alerts plus club members. Yeah, it's 12 o'clock and I've got a lot of thoughts. Some of it will be extemporaneous. Obviously, I've read the events this morning, but some are really trying to drill down. I will re-emphasize one particular stock. You have the list and that's called a tease. But I do think that I have a lot to say in these monthly calls. They're really hard to put together and much more than a show, for instance, and I hope people turn in, turn into it. There's some very nice notes on Twitter today about how people like being members of the club and I appreciate that because I work very hard for you to like it. You put in so much effort for these calls and everything else. Yeah, I try and I try to do that. Thank you. Oh, we're very grateful. All right, Jim Cramer, thank you so much. All right, and for more information on the stocks Jim mentioned, please head back to thestreet.com.