Not worse, and yet on the day when the dow tumbled 167 points, the s p plunged. Nasdaq came in at 1. 16 . The only bright spots were the stocks that go up when were about to go into a recession. Now, i dont even think thats a possibility. No. No, no retail sales are too strong, Consumer Confidence too high. Home sales are not bad, car sales are amazingly strong, employment is growing, albeit slowly, but not so slowly that wield think about a recession. Nevertheless, this is a stock thats now marching to the tune of a selloff, not just in the highfliers, but in the industrials, too and those have held up relatively well during last weeks onslaught and wonder if a miracle of miracles, its taking up every stock up, every stock that i associate with a recession. Buy, buy, buy, buy, buy its a headscratcher, people. How is it possible . First, you must never forget that as big as the stock market is, the bond markets even bigger. Right now at this very moment bonds are are being bid up furiously, sending Interest Rates down, thats not supposed to be happening in this Economic Cycle either with the good news i just told you about. In fact, the opposite is supposed to be happening, as the economy gets stronger which pretty much everyone agrees is happening, then Interest Rates go the Interest Rates go higher, not lower. Higher. As demand for money allows banks to raise the rates and make more money proloan. Their supply and demand for longers too, we know the Federal Reserve has been trying to keep bond rates low forever, and this method had been the tried and true way to get more lending going which will then getmore hiring going, but as hiring increases as it has. The feds pulled back from the Bond Buying Program and the big worry from the pullback or the socalled tapering of purchases, it was supposed to shoot up thus killing the recovery in the stock market, and in a completely counterintuitive way, rates are doing the exact opposite of what theyre supposed to do and thats setting up a vicious reaction and rotation in the stock market which takes its cue from bonds. Please learn that. Thats the first thing i learned the day i got to goldman sachs. Lower Interest Rates, instead of being bullish for more stocks are right now being viewed as bearish for them, thus wholly apart from the horrendous selling tech stocks and one without dividends and without earnings and we find ourselves gripped with an out of control selloff and since they turned the the economy that became clear a couple of years ago. Sell, sell, sell, sell. Why are they selling off . What triggered it . I think its because of engaged money manager group thing. It goes like this, if Interest Rates are going down as they are, then there must be less demand for money. If theres less demand for money then there will be less business being done down the ride. If theres less business being done down the road, then earnings will be disappointing. If earnings are going to be disappointing then why not sell stocks now ahead of those earnings . I know. I know. The lynchpin of this thinking is the decline in Interest Rates if rates are falling perhaps for another reason, namely that theray such a thirst for yield around the globe and the money is flowing here, then the whole Industrial Complex shouldnt be going down. If they cant get Interest Rates in their country, they might come here for bonds. We have so much money sloshing around coming out of equities, a lot of it is flowing back into bonds and the government isnt issuing that many bonds. I mean, wow thats a strange con fewence, heres where it gets interesting. The very same stocks that are recession proof tend to have excellent dividends and those are the ones that give you yield in excess of Treasury Bonds and thats leading the ferocious buying of Procter Gamble. People thought Procter Gamble is not doing well. Its a big position for my Charitable Trust. What a break the trust got today. Clor clorox, cocacola, verizon, at t, all going higher and theyre fulfilling the function of bond markets. Theyre bond market e give lens. People know they quetta i good yield fromma i highquality company after taxes, but thats not the only source of buying power and the same people that might be selling industrials because the economy must be slowing and they make what we call staples and the foods and beverages and the like and the on an ugly day, those who fear that the slow dunn must be lurking issue buying these stocks. Why not . Very few of the highflying techs offer dividend protection. The industrials have advanced so much that they offer scant yield up here and they have to go down a great yield before dividend protection weighs in. The stock profits and the fear of investors losing them. Thats at play, as youll see in a moment there are many stocks with insiders who fear their profits are disappearing and Money Managers who know they have terrific gains in industrials and they want to lock them in before they go away. Of course, if you dont have profits you dont fear losing them which is one more reason and theyre miniscule year over year, and retailers and restaurants and not just the Aggressive Growth stocks and the industrials and hence why ibm, walmart and intel can outperform the s p today. So few people have profits that there are almost no sellers ringing the registers to protect themselves. Whats there to protect . Thats all history. Its the sum of whats happened up until now. What im sure youre asking is, what happens next . Lets not get too negative, okay . Hey, remember the markets are big and lots of people are profits and selling can can be justified even if nothing is wrong. It could be what comes naturally. We experience the selloff with significant proportions at this time last year. Plus i saw a lot of stocks acting constructively at the end of the day and some that rebounded for pretty seriously weak levels and second, earnings season is upon us and tomorrow alcoa reports. Trucking, autos, and aerospace registry and positive numbers could put the whole selloff for the dow industrials. On wednesday, we get the minutes of the last fed meeting and enough fed members say that the economy is stronger that the bond buying will seem ludicrous to those taking them down. Finally, selling can run its course. The latter is always a nice stocks, if there were Something Else thats truly bad for the entire system, let me tell you something, you wouldnt be able to muster a rally in ibm, intel and let alone proctor and pepsico. It would be easy if the market was oversold. We sure dont have that and its not much of a safety blanket. Heres the bottom line. The selling is not being courted anymore to the highfliers continuing the collapse we saw friday. However, that money found a home in bonds and the names and it looks like the the safe havens are safer than ever and there is recovery that can do before it looks to be lofty levels. Dan in minnesota. Dan . How are you doing . Love your show. Tgt from minneapolis, buy, sell, hold . You know what . Ive been looking at target wondering when tlit would go to the level that it was before we had the security breach. Dont you think its interesting that it never did . Some of my smartest friends are saying every time the stock goes to a 3 yield which you saw today, they come in buy, buy, buy, and im with them. Michelle in new york. Michelle . Hello, mr. Cramer. Hi, michelle. Im an individual investor. I feel im at the bottom of the food chain for information, but as a woman i know shopping, so therefore my question is about visa. Is it time for me to sell or should i hold on. First, not to be too in love with what we do here on the show, but if youre not on the bottom of the food chain if you watch the show. If you knew what we did all weekend just for the show, maybe you say im not so much on the bottom of the food chain. On squawk on the street i said enough is enough. If they dont own visa, i agree with you, michelle. Cozy in bonds and soft goods. Well get through this. Please dont get too negative. When you get too negative, guess what happens . It bounces mad moneyityi will right back. Bright future . When you think its a pipe dream, its hard to ignore first solars 25 move this year. Has the sun already set on this rally or are things about to really heat up . And later, playing through the pain . Insider selling, a flood of ipos and a pessimistic earnings outlook have the markets in the red, but is relief waiting in the wings or is it time to throw in the towel on certain stocks . Cramers got you covered. Plus, the big deal. Malik rocks biotech buyout is shaking up wall street sending pharmaceuticals skyward. Find out what this deal could mean for the future of this biotech when cramer talks exclusively with its ceo. All coming up on mad money. Dont miss a second of mad money follow jimcramer on twitter. Have a question . Tweet cramer, madtweets. Send jim an email to madmoney cnbc. Com or give us a call at 1800743cnbc. Miss something . Ed this mad money. Cnbc. Com. Aflac. Aflac, aflac, aflac [ both sigh ] ugh you told me he was good, dude. Yeah he stinks at golf. But he was great at getting my claim paid fast. How fast . Mine got paid in 4 days. Wow. Thats awesome. Is that legal . Big fat no. [ male announcer ] find out how fast aflac can pay you at aflac. Com. Suddenly has a voracious appetite for value. So when companies that represent real value get tossed out during a hideous selloff like we had today, the proverbial baby with the bathwater, you have to think back and think about buying them on their weakness. Thats why tonight i want to introduce you to a health value name, a value stock in the last place you would think to look for one, first solar, thats right, it trended up 290 before the great recession, now represents unquestionable value. I have lost my mind . First solars rallied 24 year to date and more than doubled 158 over the last 12 months and still trading at 7. 2 next years earnings estimates and more important, this is a very Different Company than the one that got put through the meat grinder three years ago. Its the best of breed player in the space. Its the manufacturer of solar modules and its provided turn key Solar Project solutions with everything from Site Development to planning, construction, operating management and even financing. The key for first sole are ar is the analyst. Last year the stock soared after the spring analyst presentation and when the latest analyst reernld just last month on march 19th first solar rallied 21 in the single session and very positive news and i would not be discouraged by that spike. First solar spiked and the stock went on to double since then. We have very encouraging numbersa the this event. The cost to make the solar modules could decline for 63 cents down to 25 cents per watt in 2018 and it could be worth 15 billion in revenue through 2015 and its become part of the backlog. First solar gave Earnings Guidance for 2015 and 16. It can generate 25 per share in cash. Even at todays pullback and they talked about spinning off a yield co vehicle. I like whats happening here. Dont take it from me. Lets check in with jim hughes and find out more about where the company is heading. Mr. Hughes, welcome back to mad money. I gave a prolonged background because people dont understand the first solar is not what it was a couple of years because youve changed the way the the company works. Weve tried to transition the business in the last two years. There were a lot of changes in the solar industry. We went to a fully vertically integrated Business Model focused to provide the complete solution to the customer and thats allowed us to appeal to a larger number of customers and we vereinvested in our technolo and our technology has gotten better in the last few years. Lets talk about that, and you talked about how your technology is cheaper than silicon, but it seems like that you guys have caught up and maybe are about to pass in terms of the power per sell that you generate. The conversion efficiency said the ultimate entitlement of our material is much higher than silicon and were now beginning to prove that not only in the laboratory, but were taking those Research Results and were pushing those into our production modules and thats what got people excited on analyst day is were beginning to show the same results that we showed a couple of years ago. Im going to read a quote and i want you to explain it to people. Earlier this year we announced a truly amazing result and they were fairly blown away. We told you we would take last year and we beat the previous world record by thirdparty certified. What does that mean . What that means is that weve come up with techniques and materials in our laboratories that will produce a researchl and when you take that Research Sell and turn it into a full production module with the yields that you would get in production its not going to be that high. Okay. But we have made tremendous progress and we basically committed to a road map that says within a few years well be approaching 20 at the nowed you will level which are efficiencies that two years ago no one would have thought about. Does that mean youre competitive with all of the other fuels without subsidies . Thats correct. Thats very significant. Thats very significant. Youre beginning to see utili utilities write reports against gas, and coal. We had david crane from nrg and he was talking about how the model is distributed and the model that you have may be the oldfashioned model, putting a panel where theres 50 million structures and in this year, you seem agnostic and you say if people want to do that they should have choice. Thats correct. The solar market will be the next market in effect of 50 giga watts. The distributed market will be a huge piece of that and we will sell into that market, while its the oldfashioned business it will be a very large, Global Business and thats our core strength and bread and butter. One of the things you made clear is maybe you do it better than anybody else and maybe you should retain some and spin off a growth vehicle they think we all like. We saw nrg do it. Could you do a similar thing . We could. We continue to study that as an opportunity. We havent make a decision. If it looks that would afford us a greater cost of capital and greater affordability, we would do it. Its go good for the industry whether we do it or not. One of the things you keep highlighting in this is you have this joint venture with ge and our viewers would love to know exactly what that joint venture brought for you . Ge was pursuing the same technology that we were, the caltel technology and they have a tremendous Research Staff and they have a tremendous Research Facility and theyve putta i lot of effort into research and theyve not committed to largescale production. They decided it would be a positive and we agreed to combine their research with our research and our production platform. And the combination is the road map that we outlined in our analyst day and we think its very exciting and its been a tremendous acquisition for us and we continue to work on new Market Opportunities with ge, and we think its been a great deal for them. Do you think were in a world where were going to begin to see at least in our country because its warmer than germany. That were just going to presume that the first course of action if youll add any sort of you poor under grid and is there going to be that peak and not base . What well see over time is solar will broaden its penetration into the grid. The initial penetration will always be that peak. Over time, storage will become economic. That will allow us to penetrate further. We build high acdc ratio of plants that shoulders up the power and allows us to penetrate even further and as we move forward and Storage Technologies advance, youll see the penetration grow. Last year, you gave a projection and you didnt meet that number, but you did say that you will get away from the traditional quarter to quarter. The path you laid out, you feel really confident about that now so when we have you back next year you feel good . One of things we tried to stress at our analyst day is well present the same information next year and well hold ourselves accountable for the promises that we made. Thank you to jim hughes, the ceo of first solar. This is an inexpensive stock and you usually dont find that in the solar space. Stay with cramer. Coming up, playing through the pain . Insider selling, a flood of ipos and a pessimistic outlook has the markets in the red, but is it waiting in the wingers on is it time to throw in the towel on certain stocks . Cramers got you covered. And later, get your Shopping List ready, cramerica whether youre just starting out or looking for lowdollar stocks or setting your sights higher, cramers helping you find the the most bang for your buck in every price range. The top stocks for every budget are just ahead. All coming up on mad money. Gunderman group is a go. Yes not just a start up. An upstart. Gotta get going. Gotta be good. Good . Good. Growth is the goal. How do we do that . I talked to ups. Theyll help us out. New technology. Smart advice. We focus on the business and they take care of the logistics. Ups . Good going. We get good. Thats great. Great. Great. Great. Great. Great. Great. Great. Great. all great i love logistics. Whenever you have a selloff as dramatic as this one, its what you see in many of these nasdaq names you cant just dismiss it as something foreign ministerial and something wrong with the actual companies. There are too many stocks that are going down that have to be explained here because the the sheer ferociousness of the decline i find extraordinary. It is so extraordinary that ive only seen this sort of thing once before and thats after the nasdaq peaked in the year 2000. No the other david faber and i got in on the floor of the New York Stock Exchang