And a thousand times a day without thinking about it. At least thats how it feels right now. The inevitability of this outbreak is starting to sink in. What does the fed do it gives us a rate cut a 50 basis point rate cut. Reaction hey, condition rate cut. And it was a resounding texas hud. Ultimately the dow fell 786 points and 2. 189 so why did we get that illnesses, cancellations and this epidemic and im beginning to feel just in what has just been cancelled the emails that i get and the notes from Different Companies that is a shutdown it doesnt change that its not a cure. Its not a hazmat suit or respirator it does absolutely nothing to impact the spread of the virus it somehow boosts Business Confidence i did care about the rate cut. I cared about how wrong it was its totally a sign of the panic from the fed. And a rate cut i say this as someone thats been addiment that easy money is a good thing im probably the biggest single proponent of lower Interest Rates on the entire spectrum of tv, internet, anywhere in 2007 i lead the charge for the fed to cut rates thats when i screen it or nothing. You know nothing. About real business and the banks are in real trouble. In response they literally laughed alt me at the next fed meeting. Its in the minutes. In the minutes that i wanted rate cuts. Then 2018 i have known him for a long time. He kept raising them and i say you have to lower them and then boom it almost caused a recession. When it comes to Monetary Policy i love low rates they are closely rated to the bond market right now. Longterm Interest Rates plummet because of a slow down in Economic Activity and no demand for loans and also quality with investors and theyre so darn frightened the feds actions told you that they expect Economic Activity and i think theres going to be one too. They may not want you to be afraid but they did the opposite and when youre afraid you sell stocks even the best ones the rally in bonds sent the yields plunging and really spooked me yeah, me, i have been around a long time. Are we going to get to negative rates . We dont want negative rates for heavens sake. I told you again and again lower bond yields. And it was yesterday before the fed. I got a chance to pull up with the regeneron ceo that was the first guest on mad money it was a realistic assessment of the situation. He called it a gathering of optimistic people when there was no reason to be optimistic and while people were heaping about a giliead antiviral, there can be real surprises. Like he was able to stimulate cells and stop the Ebola Outbreak thats what its called for. America is the only people that can do it. Certainly the chinese as you have learned until then though we are made of a place where theres no vaccine and its novel i always end the show by telling you theres always a bull market somewhere. So where is the bull market. Okay im true to my mantra. When rates go this low you reignite what had been a pretty strong rally in gold which soared today its been reignited for sometime you can buy gold i like bullion if you can find a place to put it and its not your backyard and i like gld when youre dealing with economic chaos, gold is the idea insurance policy for your portfolio. I have been telling you that since the show began and im reiterating right now. Buy some gold. The next bull market, after the first day of my sell offs that were driven by the bond market then you have to pick the dividend stocks with more bountiful yields do you know what i also like, 5. 4 yield especially since its about to close on the allergen deal which will give them a powerful new drug that no one has talked about but i know it because im the chief spokesperson for the American Migraine foundation it will move the needle when the deal is done but nobody is thinking about it because its in the transition. Theres a ton of drug stocks i expect them to be hammered mercilessly. His agenda will never Pass Congress they will start rolling over even though they have zero economic exposure. Wow theyre comingin man we love that stock we have been waiting for it to come down. Not running away from it now these ones will come back and the s p futures stop dragging down is entire market. But they offer a lot of trade shows and might be deals that might not be do able in this environment. That is what matters but it is tough to close some deals when youre at home, once again, its never too late i reiterate, to sell the stuff i dislike. Travel, leisure, restaurant, anything related to those. Autos, they are all going to be weaker still its not too late to sell them, am i clear you can expect it because its only been a couple of times and always bounce and wasnt just friday, yesterdays bounce that will be a better time to sell the ones i just said are and cruises are fun but their stocks dont make sense here you cant wait until the selling ends you have to buy them in the heat of the sell off youre not going to nail the bottom which is being called by the illness but theres opportunities here and otherwise just a lot of stocks to sell. Jonathan in california, jonathan. Booyah jim. Booyah. Thanks for always being willing to stick your neck out and give us your honest informed opinion. I have been an investor in American Airlines since it was u. S. Air in 2013. Right it was a great investment. It gave me chances to increase my position size however, since i missed the top in january of 2018, its been a nightmare. Yes. I had recently seen the night at the end of the tunnel and other revenue initiatives that seemed close to bearing fruit. But now the virus is vaporized all of that and i still believe in the company eventually well get a handle on the virus and life will go back to normal. They have a liquidity cushion i dont mind holding for a long time. Now, look this stock is down for 8 straight days. Thats highly unusual. It can bounce but we have some of the finest quality stocks just getting crushed here today. So my take is is that i cant move away from that. I know that i got a i just dont think that i have anything to stop this thing and theres a lot of stocks involved with travel leisure that are going to follow you more than they have already. All right. You can buy these stocks to the sell off these are very few that are not in these but they can work mad money tonight, chevron showed off its war chest by plunging 80 billion in returns but as oil and Gas Companies face a reckoning when it comes to climate change. Im talking with the ceo see how we should approach the situation. If theres so much up and down action instead of trying to gain the market im eyeing a high Quality Company that can head higher when the averages find their footing. Dont miss my exclusive with the company that i liked since it became public and it has nothing to do or will not be brought down by corona stay with cramer dont miss a second of mad money. Follow jim cramer on twitter. Have a question, tweet cramer at madtweets. Send an email to madmoney cnbc. Com or give us a call at 1080743cnbc miss something head to madmoney. Cnbc. Com. When you look at the Critical Issues facing our world, what do you see . We see breakthrough medicines getting to patients in record time. We see harnessing natural gas unleashing the promise of clean energy. We see engineers simulating the future to improve today. At emerson, when issues become inspiration, focusing core strengths to create a better world isnt just a result, its a responsibility. Emerson. Consider it solved. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Its more than just fast. It keeps all your devices running smoothly. With builtin security that protects your kids. No matter what theyre up to. It protects your info. And gives you 24 7 peace of mind. That if its connected, its protected. Even that that petcamera thingy. [ whines ] can your internet do that . Xfinity xfi can because its. Simple, easy, awesome. [ barking ] a. I told you i was done. Like the most recent curb your enthusiasm i couldnt take the disappointment anymore wall street growing a conscious about the environment and the price of crude continuing to get hammered and he moved toward divestment but i am always listening to other side of the story when someone disagrees with my thesis earlier today we had a chance to check in with the chairman and ceo of chevron for his big analyst day event in, no new york city. Take a look. Best Balance Sheet and dividend policy and growth and best total return and yet your stock is having a problem if you were in any other industry explain whats going on which we welcome, we welcome the future and we intent to be a big player in the future and were taking care of all the right things and were built for an environment like this with uncertainty. You still finish with a better Balance Sheet. To raise our dividend and fund our Capital Program our future is strong and were delivering for investors and i believe investors will see that and will be rewarded. But when . Since 2014 because of your great dividend you had some return its best in the industry and its what people do not want to own oils. Oil prices were over 100 and further investments in our cost structure and margin captures and returns and we intend to double Free Cash Flow per share and gives us the capacity to fund 75 to 80 billion in shareholder distributions over 5 years. Thats half of the market capitalization over just five years so is it possible that there is an etfization that all trade the same i think the market is dise n discerning and the etf phenomenon has changed investing over the last decade or so but i do talk to people that understand the difference and overtime i think the fundamentals in quality will show through. Theres a company that bought an asset that you compete for. It still regards some of the better ones. Why not be able to buy a lot of companies that we both know are going to be in chapter 11. We have the strongest Balance Sheet in the industry and were buying back shares we have the cash generating capacity to do both. When i talk to investors about share buy backs they say we dont like them because we think they only buy back when the price is high. We have committed to buy back through the cycle and were certainly in a down cycle now and we intend to see that through because we have the best Financial Capacity in the interest we are going to low dividend and break even and strong cash flow coming out of the portfolio. When i look at the single worst thing that they do, youre good. Were telling investors a lot about what were doing not just on climate, on water, on governance, on a society and community and we always operated this way and more and more of it. Why not put money into it we put over a billion dollars into it the largest Carbon Capture and sequestration project in the history of the planet is in australia how about going on exchange and buying credits how about planning 100 million trees. Pie in the sky. Trees are good for the environment. Were doing things across the board. Were investing in companies that are developing new technologies that can change the game on these things direct air Carbon Capture or the air in this room to reduce co2 and were investing in technologies all of which are overtime going to be part of the solution. Do you think younger investors would ever own an oil company or is it the new tobacco . No, its not the new tobacco. Theres big differences. Demand for our product is growing. The u. S. Energy economy and jobs have never been bigger the trade impact is never better it touches every aspect of life and were part of todays Energy System and we welcome the Energy System of the future. In 1978 jimmy carter said the same thing about kcoal and it turned out to be a wasting asset. Demand for coal has not actually gone down the demand for coal is still globally as large as its ever been. But look, again i struggle, best Balance Sheet, best everything, and yet i still dont know i recommended chevron for years. For 30 years i stopped and i stopped because i thought i couldnt make any must be for people because i felt that the tide has turned. Not because youre not doing a great job. You have done a remarkable job but the industry, just, Money Managers wont buy it. Were investing in reducing our Carbon Footprint and bio fuels into our refinery and fcc and the First Company to ever do that renewable natural gas and were investing in technology to change the evasion i think investors will see all of these things as we become a part of the energy future, its a lower carbon future. How about making a pledge that says this is what we must do as oil companies. Major companies that you never stand for. Everything goes from an epa. How can you establish a standard that is so much better than what the industry currently has. I think the whole Industry Needs to its methane emissions and we work within the industry and i see serious Companies Make efforts to reduce it. You do . Absolutely. You mentioned demand. How about on the supply side can opec help . Or does it just not matter because as soon as opec tightens it goes nuts again clearly demand is off with concerns about the coronavirus and there seems to be a lot of optimistic talk about further cuts. Lets talk sabt some things with you cash flow fell short some mega projects in the end you work in a business where its hard to predict given the fact that you have had misses as well as hits. So we made choices on capital and the decision was really a decision to no longer fund that development in the u. S. Because we have better choices within our portfolio you only invest in the strongest opportunities and dry gas simply doesnt work for us as well as other things that we have already captured the long curve realdy did drop i look at 48 out of 5 years i say why should i buy chevron if it looks like the futures tell me that theres no increase over time we will double it over the next five years and we have the capacity to return for Share Repurchases and dividend increases averaging between 5 and 9 over that period of time. On top of the dividend thats yielding over 5 right now we are built for a low price environment. Well deliver to investors in a low price environment. Well, i say, if you want to own an oil company you want to buy chevron but maybe you cant because youre a producer. Investors can count on us to do the right thing. Thank you so much. Thank do you have concerns about mild memory loss related to aging . 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They learn that embracing those challenges is what sets them apart. I am justin rose, and we are morgan stanley. Whats next for this incredibly ridiculous volatile market we need to make logical decisions. Thats why i like to fall back on the technicals in times of turmoil because they give us a more quantitative less emotional approach so tonight were going off the charts with her help she runs the website and my colleague at real money. Com where i get her read on this topsy turvey market. She warned us that the s p 500 people were in the correction. Thats exactly it. Told us to watch one specific thing. Take a look at this daily chart of the s p 500 now you see the blue its the moving average. The 13 day exponential moving average. When the five day goes above the 13 day she likes to use that and it goes below the 13 does the trigger always work of course not but its helpful a pretty high per staej centagee time but when its right its really right monday of last week the 5 day crossed below the 13 day if you were watching these moving averages like we told you to, you should have got it now right there. Just like she said the whole correction for tuesday morning. And going down to be a big sell off a month ago. And you know, the rally and i think what does she see next check out the daily chart of the s p. This is where it comes into play she measures the scale and duration of the past swings and then she runs them thats a key series of numbers and that gives her a set of levels and dates where the trend is likely to reverse itself. Its the dates that were concerned with right now and sure enough the markets started showing signs of life on friday afternoon before exploding higher yesterday although we now appealed a different chunk of that then the s p could work its way to 3,539. Need to be on alert. As we saw today the fed is pushing with a double rate cut you cant cure the coronavirus with lower Interest Rates the Economic Impact could be severe. Remember the five day exponentia