Given that we got a heck of a lot of dips going on in a market like this one, where the dow sank 29 points today, s p declined 0. 44 . Nasdaq lost 0. 92 , i think its going over who does have credibility and who doesnt. So that you can learn how to tell the difference and do some buying as we are now down eight straight days. Thats the longest losing streak since october of 2008. Thats staggering. Lets talk with someone whos got credibility in spades, rick clemmer. Hes the ceo of nxp semiconductor. Hes been a transformational executive. Nxp was long viewed as little more than a component supplier for apple. Last year he snapped up freescale, a maker of chips for autos and the internet of things for 11. 8 billion. Four private equity firms had led a leveraged buy, paying company was always a few steps away from deaths door. But to him it was a way to diversify the footprint away from the cell phone and towards autos and internet of things. Now qualcomm is buying it for 110 a share. This stock could fall into the mid60s in february. Youre getting a monster return here. My Charitable Trust has owned this one for ages. Rick clemmer is the definition of bankable. Trying to adopt the same strategy. Speaking of fitting, you know who has lost a great deal of credibility . James park of fitbit. You may like the product, but one thing we know about this stock is it loses you fortunes. Last night park came out with some horrendous numbers and an even worst forecast. This is kind of astounding to me because i had park on the show were showing dramatic weakness for his products, he dismissed them out of hand, pointing out how well fitbits were doing on amazon. I dont think park was lying. I do think he might have been clueless. If he was doing a more rigorous job running fitbit, dont you think he wouldnt have to wait to find out how terribly his products were really selling . Todays 33 decline was brutal, but i say forget fitbit because the companys credibility is now nil. Thank heavens i hit the dont buy button on the eve of this report. Let me give you another positive example, though. Jeff bewkes, the ceo of time warner, hes got a ton of credibility. Hes created a huge amount of wealth for shareholders by getting rid of many extraneous properties and transforming time warner into a pure media company. After he was done cleaning house in july of 2014, fox came in with an 85 takeover bid after all the work that bewkes had done. A 14 premium to where this Great American had taken the stock. But bewkes point blank refused was a nonstarter because he wanted a price well over 100 a share. So fox walked away, and a lot of investors cursed bewkes for his hubris. But lo and behold last month at t agreed to pay nearly 110 for time warner. Thats what i call credibility. On the other hand, theres the ceo of Occidental Petroleum who earlier this week reported a devastating and completely inconsistent quarter with a fright foolhardy Spending Outlook to boot. She recently took over from stephen chasten and apparently they couldnt be more rigorous. He was tight fisted, always concerned his Balance Sheet not be stretched. My Charitable Trust, which had a position, committed more capital to it. But when this quarter was announced, we learned they spent in whats become an expensive region even though they already had a fabulous position. Even worse, after listening to the Conference Call, i started to worry about the dividend itself. Yep, occidental has gone from a stock i coveted to one i wish the Charitable Trust simply didnt own. And if the price of oil bounces, well, were out the door. Sometimes executives dont get the credit they deserve. So let me give you a typical example here. Im sick of tim cook never receiving the benefit of the doubt at apple. When he o at 53 ducks. Now its at 109. 104 gain. Yet cook is doubted almost constantly. He was doubted when apple was at 93, and everyone thought the new iphone would be a dud. Then he was pilloried after the Company Reported a good quarter last week when the stock was at 115. We keep hearing apple has stopped innovating with cook. Why are so many people switching plus he hardly gets any credit for the Service Stream. 50 plus gross margins. Even when the analysts do talk about it, they talk about the Service Stream as accidental. Cook somehow backed into it. I only wish more companies could back into a 28 billion business like that. Apple supplier chip Company Qorvo slashed its forecast badly. Now, heres what you do in these situations. We did an off the charts the other night saying it could go to 102 and all bets will be off. You got to let the dust settle here before you pull the trigger if you dont own any apple. Its expensive. In contrast weve got nick woodman, the founder and ceo of gopro, total commodity. He has no credibility because he created an ecosystem that never really took off, the opposite of gopro, you didnt need another gopro. Even as they kept introducing new iterations. It just isnt that special. And gopros earnings were just slashed. Its forecast was slashed beyond recognition this evening. Fitbit, nothing more than a commodity. Now, there are two others that have been called into question right at this very moment. The first is the Management Team at facebook. This stock got hammered today, but i think its a victim of its own success. I keep telling you not to trust stocks that run up into their quarters. Facebooks stock ran up aggressive i think the company was managing down conservatively on its Conference Call last night and ult mate well see it as a desire not to let expectations get ahead of themselves as facebook tries to recruit another billion people to its properties. More on facebook later in the show. For now, i think its a buy into the further decline that i expect from these levels in tomorrows session. Maybe monday is a better day. Tomorrow i expect will be weak too. Finally Bret Saunders at allergan, who now is despised. Hes made shareholders a fortune but this recent run with allergan, its now become a real loser. It could have been a huge winner when pfizer tried to buy the company last year, but then the Treasury Department changed the rules, moved the goal poston tax inversions, blocking the deal. It has really been downhill ever since. Yesterday saunders announced a 10 billion buyback coupled with a 70 cent quarterly dividend, but allergan also missed estimates and the stock has been crushed, falling from 209 to 189. This is just in a twoday session. Thats down a stunning 45 from its high. We own this stock for my Charitable Trust, and weve been telling actionalertsplus. Com over at thestreet. Com that saunders isnt getting enough credit in this vicious environment for drug companies, but do not touch the stock until it gets to 180, which is about at that point it will be cheaper than Johnson Johnson, pfizer, bristolmyers, and eli lilly own though it has a much faster growth rate than every one of those, and thats insane. But its what happens when the market takes away your credibility prematurely. Even as it sold at this time generic business to teva earlier this year. But it did get some stock, and teva stock is down 10 . Management matters. So remember track records. Remember whats been said. Remember whats been done. Judge ceos on their words and deeds and performance and character, and be prepared to stick by that judgment when times get tough. When times get tough like they sure are getting now. Joey in florida, joey. Caller yes, sir. Thank you for taking my call. Of course. Caller a booyah from the space coast. I have a good, well diversified portfolio that ive developed over the last 15 years. Stocks such as pepsico, which have tripled and quadrupled in value. My question is this right here. With the impending election coming up, historically the market has been volatile regardless of which party gets in under a new presidency. Right. Caller would this be a great time to take these things off the field and step back for a while if it goes down and ive got to tell you, joey. Day with jack moore who runs the Charitable Trust with me, and were not a hedge fund. We dont want to flit in and out. We raised a huge amount of cash, the biggest amount of cash. You raise the cash. Weve been sitting on this huge cash position, havent liked the market because of this election. Thats what you should do. I dont want you to sell everything. I think you should raise cash. Take some off the positions you dont like because this market now, its oversold. Wait for a bounce. Eight straight down days, but understand thats what we did. The Charitable Trust isnt a hedge fund. No need to cashier all your positions. Martin in my home state of new jersey, martin. Caller booyah, jim. This is martin from nyack, new york. Dont get us mixed up. Good to have you. Caller im up 40 even after it dived. Is it a trade, or do i hold it as an investment. What was the stock . Caller etsy. Look, i think you have to if youre up 40 and you take a quarter off it, all right, because we dont want to give it all back. So if you have like 200 shares, take 50 off. I do think etsy is a great long term story. Its just its run so much and this market is taking no prisoners. Like i told the previous gentleman, you want to have some cash on the sidelines just in case this down eight days straight doesnt end. I know we should bounce because were oversold. I would sell 25 . Let the rest run. Credibility in this market is as good as currency but not a lot of people have it. Records you can count on. On mad tonight, Take Two Interactive has developed some of the biggest titles in the video game industry, but can the maker of grand theft auto continue to rise . Im sitting down with the ceo to find out if its game on after earnings. Then three little words caused Facebook Stock to tank. What were they, and can the stock regain its footing . Ill reveal. And will the results of next weeks election impact American Electric powers chances for growth, or will they power right through . Ive got the exclusive with the companys ceo. So stay with cramer. Announcer 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 . Why are you checking your credit score . I wanna see if it changed. Credit scores dont change that much, do they . Really . Ill take it. Sir, your credit. Is great right . When was the last time you checked . 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And clear your worst cold symptoms. Start the relief. Ditch the misery. Lets end this. I keep telling you that the video game space is on fire thanks to the fact that more and more People Choose to stay home and last night we got still more confirmation of this when Take Two Interactive, the game developer best known for grand theft auto, reported a blowaway quarter. Take two delivered a stunning 15 cent earnings beat off of a 30cent basis with higher than expected revenue, up 21 yearoveryear. Management maintained their full year revenue and earnings per share guidance. Thats why the stock shot up over 3 today. Remember, it was a terrible day for the market. This move was totally gettable. If you listened to the ceo last time we spoke, you now have a terrific gain of nearly 30 . Lets check back in with strauss zelnick, the bankable chairman and ceo of taketwo interactive software. Mr. Zelnick, welcome back to mad money. Good to see you, strauss. Nice to see you. Thank you. Im holding up a picture of an ad. It looks just like a movie ad. Mafia 3. June 22, 1993, when the movie industry wunderkind left, did you ever envision youd be making something that would look like a full page ad for a movie but certainly is probably more lucrative and better received . Its actually what i thought would happen. Thats why i went to crystal dynamics, and in fact i thought the video game business had the creative opportunities and the the 30s. How is that possible because that was when we had chips that were incredibly slow, only main frames were able to do anything fast, and you could never have anything in your house that would have the Computing Power . Crystal dynamics promise at the time was it was going to be the first maker of highdefinition video games, but they certainly didnt look highdefinition compared to what we see today. Why is this what i see as i think it came out hot because its gritty. Its authentic. The soundtrack is unbelievable, and i think weve set a new standard for a cinematic video game. Were not trying to make interactive movies. We are trying to make incredibly realistic, compelling video games that have strong story and character elements and great game play. How long did it take to make Something Like this . The title . Several years. Several years. You have said over and over again on this show that you do this is an example of something you waited and waited until it was exactly right. I think the team at hangar 13 did an incredible job. It was their first effort for 2k and taketwo, and were incredibly proud of what theyve achieved. There are some other secular stories. My wife and i are talking about how were picking games already for we have a package for the nets, and i couldnt believe we were talking about basketball before the season really had nba 2k, people are talking about playing that before the season had begun. Its a yearround game. When we started at taketwo, basketball and the other sports games tracked the season they were in. And now with the engagement last year around, if you have a good game, and the revenue last year around, because we have recurrent Consumer Spending opportunities both in the game and in the my nba 2 k companion app. Are these happening so quickly they overrun what people quarter was extraordinary . I think actually we do have a sense that the opportunities are even greater than many of us had thought, and its a nice place to be. So that im not promoting it from our point of view, lets look at it from the industry point of view. Interactive entertainment is the Fastest Growing part of the entertainment business, has been for some time. The average age of one of our consumers is 37 or 38, skews slightly more male than female, their lives the entertainment they avidly consumed at the age of 17. You know that to be true. Im getting doubledigit number percentage of days spent on gaming. I think that will continue to grow. As the games get better . As the game gets better and as the cohort grows. As they age, they dont stop playing games and new people begin playing them. Talk to me about wwe which i had been dismissive of at one point until my friends are telling me that theyre front row seats. I will be taking you to wrestlemania. Before we signed that deal, i went to wrestlemania here in new jersey. There were 90,000 screaming fans in the rain. You couldnt pry them out of their with a crowbar. And i went back and said to the team, i think were good to go. Were excited because the game has gotten better. We expect to be up yearoveryear on the title. Well still when you look at redemption coming out . This obviously does matter. I know youre the least promotional ceo but also the ceo has done the best since weve been interviewing. You cant promise necessarily when something will come out, but this could be big for next year . We said fall of 2017. But how do you know that when youve told me over and over again, if its not perfect, youre not going to let it come out . Theres no question that perfection is the standard that the team is seeking. Its certainly thend confident that were going to be out in the fall of 2017. With Red Dead Redemption 2 and with an online component. Are you close to nvidia, any of the Chip Companies . When you left fox, you was looking at your background when you were the wunderkind, and i know you had to believe that the computers were capable of something. Nvidia is about to report, and what im hearing is the chips that they have in the hopper will make it so that we really between reality and virtual reality. Im pretty sure weve talked about that here before. I think the creative part of our business, which is driven by technology, is when what we do looks like live action. Do i think that will be possible . Unquestionably. Timing . Cant really call it. If you believe in moores law and, remember, moores law was not supposed to last forever. A lot of people debate when its coming to an end, and youll even read in the last few months people saying, yes, finally ive read that. Work at intel. So far hasnt happened and i do believe our games will have the opportunity to look like live action. Were still going to make titles like borderlands, but for some of our realistic titles, its going to be possible. I know cliff mason who is my cowriter who said you would be remiss if you didnt ask strauss to date how many units sold, grand theft auto . Thank you, cliff. I appreciate it. And it continues to sell. Its one of the reasons we had such a great quarter. And three years after release, grand theft auto online had yearoveryear gr