Courscourse jim cramer right now the stock market and the bond market are like two heavy weight champions duking it out. And todays stocks had a very good round dow surging 1,173 points, the s p 500 skyrocketing, the nasdaq soaring 3. 85 . Hallelujah. Who are these two boxers . In one corner you had a stock market that had gotten viciously oversold thanks to the coronavirus outbreak and wall streets existential fear of a Bernie Sanders presidency. In the other corner, well, youve got the bond market specifically u. S. Treasuries every time they go up in price, we go down in yield. Lately their yields have been plummeting sending chill through the spine of all investors who follow both markets. Now this is a vicious and i will tell you somewhat scary for us, but bond yields so frightening low theyve been decking the much smaller stock market, as surely as muhammad ali sent so many challengers to the canvas the bond markets still screaming that were not out of the woods, that were being come place se play sent, the rates actually rose the tenyear treasury went back over that yield, also integral to the rally theres a tremendous amount of fear in this market. Were afraid of getting sick, physically afraid. Afraid for ourselves, for our families, for our children, for our spouses. Were afraid of the economic fallout from a possible pandemic u. When investors are terrified you get a flight to safety people want to hide in the lowest risk assets they can find, even if they get little return u. S. Treasuries are viewed as the ultimate safe haven. Thats why institutions are pouring their money into our bonds. They dont care if they make any money. They just dont want to lose it. Thats why Interest Rates keep plummeting thats why the treasury yields just above 1 but was below 1 a couple of days, thats close to record, you know, todays still close to a record low. Buyers desperately want these bonds for protection the sellers wont let them go, which is how you get a market that rises and rates go lower. If i were treasury secretary id take advantage of this moment to offer billions or trillions of dollars in longterm bonds now the white house obviously cant spend that money without congressional approval, this is the perfect time for the federal government to try to refinance what it can of the old National Debt or issue bonds to fix our airports and our roads that are awful and third world, im sorry undeveloped whatever without new supply these bonds are due to keep going heyer eve higher every time we get scared by covid19. I think its a given that there will be more bad news. I know a lot of people feel were out of the woods come on, its too early. The lack of Economic Activity in terms of travel, leisure, dining and entertainment pushing down even further everyone starting working at home including the people who dont have a job who aint been working, then youre bound to get a severe chick sleconomic s. The bonds are signaling recession because of the coronavirus. Thats why the fed slashed short rates yesterday because lower rates wont make people more willing to go on vacation in the middle of an epidemic. Lower rates are not the tonic we need this is more important than lower rates, this. In fact, that rate cut not only signaled panic, worse, it signaled cluelessness. They know nothing. This is not a financial crisis for heaven sake its a Public Health crisis. Its great to have lower rates if theres demand for money, but when theres no demand because youre too afraid to go outside let alone buy a car or refinance, come on the rate cuts might hurt us. I speak to older people who seem more worried about not getting enough fixed return from their income, than coming down with the coronavirus. Maybe they should be concerned im just telling it is as it is. The combination of those fears gave us the stock market that seemed to know no bottom today the heavy weight, the technicals gave stocks a major boost. Im talking about the market edge short range oscillator. Its proprietary indicator that id pay to see after the market closed every day ive been getting it since the 1980s. It really matters to me. Used to be the s p, now its put out by market edge this is the source i like to credit something thats so important in my thinking this darn thing is so reliable that even in the midst of a bearish biological bond race, what does an oscillator do, it measures buying and selling pressure it tells us when the selling may have gotten out of control when youre caught up in events, you may not know things are gotten out of control. Youre looking for benchmarks, for tokens, anything that makes you feel like things have gotten too crazy, and thats why i pay for marketedge. Coms oscillator to make that judgment call for me its a Pretty Simple tool. The oscillator is between negative 5 and 5, youre in the neutral. Below negative 5, too much gloom. Abo the more extreme the reading the more aggressive you can get. When the oscillator goes below negative 12, my benchmark, theres almost always a great time to buy. Almost always. We saw this after 9 11 when that terrible tragedy turned out to be a oneoff event, we saw it on august 11th during the debt stealing crisis and our debt was downgraded bid none other than the rating agencies s p. We saw it in january 2006 when the chinese stock market collapsed when the fed seemed hell bent on raising rates and 2018 when the fed tightened way too aggressively and proved to me. They know nothing each time was a marvelous moment to buy stocks each time stocks were overreacting to some news that turned out to be not as serious as wall street believed. Sure things were bad, but they werent that bad they werent that bad. They werent that bad. They were bad. They werent that bad. They werent bad and these things were all solved lets talk about this, though this is the one time where the market edge oscillator failed, okay this is what i think is the outlier, the Great Recession if you bought stocks when the oscillator hit minus 12 back then, well guess what . You did get smoked because we were dealing with the true financial crisis where nearly all of our bigges bant banks an insurers were going under. By the time the fed started cutting rates aggressively it was too little, too late, and the stock market got more than cut in half before it bottomed and many of our famous Financial Institutions became more abunda abundant had is coronavirus panic more like the financial crisis here or is it like this, this, this, this, this, which is it like which is it like of the minus 12s, the four times it worked in recent history there was no credit crisis there were no big failures there was no Systemic Risk the one time we failed to bounce we had all those problems. The reason it was so wrong for the fed to cut yesterday is it made old hands like me feel like theres got to be this this is what we reacted to, and it must be some credit crisis we dont know about, some institutions on the verge of failure. Come on, jay, just like in the Great Recession. They were trying to restore confidence all they did was instill panic thank heavens we got over that quickly. As i said over and over again thrks this is a biological crisis. It could hurt hiring it could cause layoffs if the fed tide over Small Businesses, i think well come out on the other side just fine even without breaks closing down commerce all over the country. Right now the oscillator is saying you should buy stocks both short and longterm even after todays increased my friend bill at market edge just told me, we remain at doubledigit negativity. More good news for the bulls more likely that were here and not here you can see this rally reflects measure an oversold bounce obviously joe biden es strong super tuesday performance, allowed wall street to buy a sigh of relief maybe a possible cure, i dont think were getting that either but i see even if you disagree, you can use this strength were getting right now. Get rid of all those bad stocks. Sell sell sell for all i care. For me we lighten up a bit on stocks we bought during the downturn were still very long. The bottom line, the stock market champ put the bearish bond market challengers through the meat grinder today, turbo charged by the turn against socialism in last nights primaries. Dont worry, im sure there will be one again tomorrow. Wayne in new york, wayne caller hey, jim. Wayne. Caller calling in tonight on swk, Stanley Black and decker this past monday family presented at the Raymond JamesInstitutional Investors conference, and they were given their virus impact situation they were going over their supply chain exposure on their ten factories in china, and talking its good theyre moving some back they should move all theirs back im actually disappointed stanley cedeed to the chinese. If you want to do that, go buy home depot i think you want the diversity i remind companies watch what happened this time around. If you were too dependent on china, whether you were a drug company, a hammer company, i dont care you look very illadvised and youre only getting the term illadvised because tonight i feel like jimmy chill. Lets go to kari in nevada caller hi, this is kari in nevada, and ive been watching your show for a long time. I bought boot at 36 around three weeks ago when you had the interview with the ceo. Right since i bought boot and its gone down around 20 and has plummeted around 60 from its recent high of 48, i cant tell if its going to continue to go down or if i should keep it or i think you should keep it. I like the model we had them on the show a number of times, matt boss likes them ill have to check in with matt. I do think that they have that theyre in good shape they are a retailer. Retailers have been very varied here greg in new jersey greg. Caller how are we doing jimmy chill . Jimmy chill is taking it to the house. Caller first time caller, longtime listener i wanted to get your thoughts on fedex leading into earnings. You know, youre rolling the dice, my friend. Youre rolling the dice. I dont like dice. I like cards better because i have a memory for the no memory cards, but i think fedex is maybe you want to do it in calls, but youve got to see china come back online, you want commerce to come become online you want management to m can back online. Thats a lot of lines. In one corner you got the stock market in the other corner youve got the bond market. Today the latter was put through the meat grinder missed it . Tomorrow well get another bout. I think were more like this and like this and like this and like this and not like that jay powell may disagree with me. Hes fed chief hey, but im the host of mad money. On mad money tonight with Interest Rates at record lows, that was just phony hubris, find out. Then its the most popular method of investing missed its apex, and did coronavirus fears impact dollar trees most recent quarter or was it execution problems ive got the exclusive with the ceo so stay with kramer. Dont miss a second of mad money, follow jimcramer on twitter, have a question, tweet cramer madtweets or give us a call at 1800743cnbc miss something head to madmoney cnbc. Com. I cant believe it. That chad really was raised by wolves . Which one is your mother . Thats her right there. Oh, gosh. No, i cant believe how easy it was to save hundreds of dollars on my Car Insurance with geico. Its really great. Well, im just so glad to have met your beautiful family. And we better be sitting down now. Believe it geico could save you fifteen percent or more on Car Insurance. 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. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk while our competition continues to talk. Its almost like a challenge everyday mywws been an amazing journey. To see how well i can eat and still enjoy myself all day long. I wake up every morning to see how much weight ive lost and how much better i look. Myww join today with the ww triple play to be our guest. With an invitation. The invitation to lexus sales event now through march 31st. Lease the 2020 rx350 for 409 a month for 36 months and well make your first months payment. Experience amazing at your lexus dealer. 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 ] dont be blinded by the green today. Weve had a ton of volatility. We need to continue to guard against those ugly down days like we endured last week. Ive always told you you need to own some gold as insurance against economic chaos, and despite a temporary pullback last week, the pressure is going into overdrive lately. A lot of ways to own gold, you can go with the bouillon if you can find it. Or you can go with the gold bars and this is where i can give you valueadded because my favorite is barrett gold, the corporation created by the merger ran gold you can buy companies now the worlds premier gold producer with a barics most recent quarter was fantastic, stock is up doesnubledigits for 2020 hey, lets dig deeper with ma bristow, the president and ceo of barrick gold. Welcome back to mad money. Hello, jim, how are you doing . Well, you told me that this merger would be gigantic, two plus two is five this ones looking like a two plus two is seven, big dividend boost, unbelievable lower costs, how did you put it together . You know, proper due diligence, jim, and when you combine high quality assets with high quality people, you always get high quality results now, you have found, i think when people go through your documents that nevada has im used to you drilling in places that arent safe, but nevada is an unbelievable gold producer for you guys so thats important that was a key component of this combination was to really consolidate nevada and really thats the foundation of value for barrick, then weve got the opportunities and the risks in south america, Central America one of the biggest gold mines in the world, and then you look at and then you look at papua new guinea, and africa you know well, jim, youve walked that voyage with me high quality assets in a continent where you can make money and deliver value as we proved you have always been telling me its not enough just to have gold you like dividends you like to put money in peoples pocket. 40 Dividend Increase for q4 thats correct, and if you look back at from the announcement on the 23rd of september 2018, more than 100 increase in dividends, and whats more . Its based on the quality of our p l earnings right, now we call it impact per share, you talk about esg. I dont see that when i read a lot of mining reports. You call it not just a social imper, you say its a commercial one. What are you doing exactly, youve got to be in this modern world, weve got to be good citizens as well as good businessmen, and when you go to emerging markets, its very important that you realize youre managing national assets, and those people in those countries should benefit from your activities just like we expect to deliver value for our shareholders, were equally intent to make sure that we earn our social license and those stakeholders and those countries also benefit. Im glad you mentioned africa i have been telling people over and over again that my friend mark bristow is not worried about these different kinds of infections the one you dealt with, you were at the epicenter of it, ebola, and you were not scared, and you developed methods to be able to do commerce. Could you please tell the people in this country who are petrified that there are ways to do commerce and business even in the toughest places . You can manage this, you know, as you correctly say we went through the west african Ebola Outbreak it was put to bed. We are still dealing with the eastern drc ebola crisis in fact, weve had now ten days, jim, of no new infections, so thats fantastic were turning it around, and what thats taught us is how to manage these situations and the importance of knowing where people have come from making sure that we control the access of people into our operations, and more importantly managing the logistics and the inventory of our critical consumables and those moving items and you can be rest assured that the whole of barrick across the gold looks like assets used to look like in west africa when that first Ebola Outbreak happened. Appreciate that courage and encouragement. One last question, mark, i think you and i both know it, and you taught me this, were running out of gold in terms of easy to find gold. I feel like this is golds time, that this is not just a small move we could be in a multiyear move given the fact youve got all the good assets. The other guys dont seem to have themoney. Could i be right there is finally not enough gold and not enough miners that this is your time absolutely, and never has there been such a alignment of all the different fundamentals that support the gold price. You know, when you look back bo post 1972 there was a period of deflation. Gold price, you know, was you know, where we had negative Interest Rates then we went through the sort of positive Interest Rates in the back end of the last century, and as you know, we had a very low gold price, and weve been in this negative Interest Rate for some time now on top of it as you point out, were forecasting somewhere around 30 decline in new Gold Production over the next ten years, and then if you look at gold prices risen in every single currency to almost record level, and thats despite the fact that the equities continue to perform strongly so theres something happening here jim, apart from the fundamentals and the tightening of supply, in the global economy, theres a nervousness. We might not be at the top of the market, be wooere a lot closer to the top than the bottom, and people need to have a bit of insurance. Boy do they ever. One other thing i would leave you with is for the first time last year we saw gold equiti