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

CMEC Investing Club warning meeting.

There's some really interesting things happen.

And the type of things that happen like, you know, I always like you to go behind the scenes

with me, we got a very strong job support, strong to the point where it's very clear that not only

are we not going to have a hard landing or softly, we may have no landing.

That's, by the way, the view of Larry Fink, who my revere, who runs BlackRock.

And with 254,000 jobs added, when we only thought 150,000, what that says is that, you know,

the recessions off the table. More important,

we're not going to have any credit problems because when you have a consumer economy and you have

that many people hired, what it means is that it's unlikely that you're going to get a spike in

defaults. That had been a very big issue. People were worried about that. You take that off the

table and what do you see? You see a dramatic rally in the bank stocks, even though you expect not to because we have interest rates going higher today. So when you look at Wells Fargo being one of our best today or JPMorgan, which we don't own, Morgan's Staley now back to 106. What this says is, you know what? Maybe we're at this era where what really matters is not inflation. We've got oil

up and it didn't seem to matter. Oil is the strongest has been a long time. We've got these wages.

Wages actually, the prices were actually up a little bit. So maybe what we really want, maybe what's

ideal here for Wells Fargo is lower defaults than we thought and job growth, as opposed

to a little bit of increase in wages and job growth.

I'm taking it as a very bullish thing, and all I can tell you is that it's moving our bank

stocks very, very well.

It makes me feel like that we ought to have another.

I've been working on Blackstone and Black Rock. Would appreciate any input that you have at home because it does matter to us tremendously. Now, Port Strike ends. That also should be, it's very hard to figure out what's going to go on there because the retailers have already had most of their stuff. They do that in September. But, and most of it the West Coast. This was East Coast. But I would say is that what people are saying is that Costco was the one that people bought a lot of stuff. I think it's going to pull through and give Costco a very nice month. Remember, last month was a month where the stock got hit. So that could be very, very important. Buy some Costco if you don't own anything. I advise some here.

We're almost oversold.

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