I'm Jim Kramer and you're about to hear a sample taken directly from today's

CBC Investing Club morning meeting.

What I think is interesting is that rates are going down today, interest rates going higher,

bonds going down, and it's causing tremendous havoc in a lot of the market, but then the market is bouncing back,

which is kind of apropos of what I said in my Sunday think piece.

Right.

We had a huge rally Friday in reaction to that strong September jobs report.

Market pricing ends, a little bit less of easing by the end of the year.

But I think what's happening too at the market is we're just fighting a whole host of

downgrades today in big mega cap names.

But right, you mentioned your Sunday piece.

The market has rallied despite a lot of that negativity.

The banks are a real point of strength today.

They were Friday. Wells, Morgan Stanley, huge moves.

I know there was a Morgan Stanley upgrade to that strength continuing today.

I've done some work on that group.

And what's rather amazing is that for a lot of these, they're positioned for the slower the Fed cuts rates, the more money they make, particularly Wells Fargo.

Now, David was talking about how that Wells Fargo has underperformed JP Mori. Now, Wells Fargo. Now, David was talking to me about how that Wells Fargo has underperformed J.P. Morgan. Now, Wells Fargo has underperformed. There's no doubt about it. It's up 16%. I mean, Wells Fargo is up 15? Yeah, about there. It actually was outperforming J.P. Morgan for most of the year. You could see that a nice start there.. But the last quarter there was a bit of a trip up.

Look, I think that the risk award on these banks is very good.

Well, they report Friday.

Let's talk about oil for a second.

The oil stocks are moving up again because of what's happening in the Middle East, October 7th, terrible day.

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