Jim Kramer here to share with you a sample of my take on the market from today's

CNBC Investing Club warning meeting.

We're digesting the big rally from Friday and I did a piece this weekend about how,

while I trusted, obviously I like what the money's going into.

You know, after a big run, suddenly people start embracing a market. I don't like that.

I like to go the other way because it really doesn't make a lot of sense to get in after the run.

And, you know, Jeff, we had some stocks that really moved quite big. Now, the oscillator is not overbought,

but we also don't want to come in on top of some of these moves.

Yeah, I think so. And that reflects our trim of AMD today, the downgrade of Palo Alto, which will get into our downgrade, not that it was downgraded by the market. But when we think about the move that tech has had this year and you see the NASDAQ outperforming, you have the NASDAQ, best first half of the year on PACE for since 91. Semis, the SMH, up 44% the first half of the year, a year to date, on Pace for

its best half since 2000. When we saw those stats come out, you emailed me a little disconcerning

that we've had such a big move only because the gains have been

had. Right. And I'm going to talk about this tonight because I really feel that one of the things that I don't like to do is say, wow, we're now back to where we were. We're now, we've made up all the ground. Well, if we've made up all the ground, I'm not saying God, Lord God, it's back to even, let's go. I am saying that if you're thinking right now that this is the level to get in,

I have to say to yourself,

well, it wasn't the other level level to get it.

And that's how I feel.

A little patience, you might get a better opportunity down the road to do some buying.

Right.

And AMD was the name we trimmed again.

So we also trimmed a little bit last week at a slightly higher price.

And what a great move?

Oh my god, a huge move.

It's rallied from 80, the pullback to 80 when it reported just a month and change ago, all the

...