Cramer’s Morning Take: Bears, Buybacks, and Buffett 02/27/23
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 27 February 2023
⏱️ 3 minutes
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| 0:00.0 | I'm Jim Kramer and you're about to hear a sample taken directly from today's CMEC Investing Club |
| 0:07.6 | morning meeting. |
| 0:10.0 | I would say that we would be more bullish if we were more oversold. |
| 0:14.2 | Right, absolutely. |
| 0:15.2 | Still waiting for that, oscillator minus two and a half percent after Friday. I'm always wondering with the 10 year, |
| 0:23.5 | we're nearing 4%. Is 4% always some type of psychological level where we do, if it does break |
| 0:30.6 | above that, will we see another intense round of selling? So something to watch. Meanwhile, |
| 0:36.1 | all the big strategists over the weekend, just reiterating their bearish stance. Amazing. Mike Wilson, Morgan Stanley, says March is a high risk month for the bear market to resume. So a lot of that. My favorite is saying that this is going to go like this. Now, we'll go like this after. I'm sorry. This is the market or the tenure? Oh, I'm sorry. Can we put the market up? S&P, please. S&P. Because I think it's really interesting what he's saying. Just don't want to get anyone confused at home. Yeah, I'm sorry. Okay, so he's saying this is it, that this is it. This is your blast off. And some of it is because you notice this is the same as the tenure. I mean, that is rather remarkable. They both have these moves. |
| 1:14.2 | But the historical blast off, and some of it is because you notice this is the same as the tenure. I mean, |
| 1:11.3 | that is rather remarkable. They both have these moves, but that historically this is the opposite |
| 1:17.3 | of what these strategies say, that this is the moment to be aggressive because interest rates may be |
| 1:22.6 | peeking out, but also because what we have here is that nice decline and dearest market. |
| 1:29.2 | Witness the fact that we had Walmart go to 47 then of 42. |
| 1:33.2 | Home Depot really bad. |
| 1:34.3 | Those are ahead of all the other. |
| 1:36.1 | It's very hard to imagine that target lows could be as bad as those. |
| 1:39.4 | A lot of retail earnings this week. |
| 1:41.7 | I think one of the big drivers of the interest rate curve will be the |
| 1:46.7 | jobs report, which isn't this Friday, but the following Friday. So that's obviously key of what I'm |
| 1:51.7 | hoping will be a little bit softer. I think February was a softer mark. January was aberrant. |
| 1:56.6 | Mortgages were good. January was extraordinary strong. Now what I'm calling for is that until |
| 2:02.0 | we get the giant bankruptcies, we're going to be stuck in a range. I don't even think that |
... |
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