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

CMEC Investing Club warning meeting.

People are still in the habit of trading off of numbers that could make it so the Fed might

be done tightening. So you get a soft CPI and everybody goes crazy. Yeah. And so CPI was a little bit

cooler than expected, not seeing too much movement in the probabilities of what the Fed may do next at

the September meeting. Right now, odds are for no hike. But we've heard the Fed before say there

could be at least one more. Yeah, look, the Fed knows that in the 70s they played the game of hike, no hike,

and inflation came back. So there is no way that this Fed is going to let the vampire go.

They're not going to just, they're going to put it, definitely put a stake in it,

which means that you should not be buying because you think the Fed's done.

If you want to buy stocks here, the reason why you should buy them is because we've had some really soft days for the NASDAQ, and there are some great opportunities to NASDAQ.

We bought Microsoft.

Yeah, above Microsoft the other week.

Amazon's fantastic quarter.

Alphabet was a fantastic quarter. Yes, yes. And the key there is of course with the cloud business with Amazon

stabilizing at 12%, also retail margins, much better than expected.

Advertising $10 billion for gross margins are huge for that.

Yeah. So, I mean, we do have things to buy

if you haven't bought anything. Now, I want to emphasize that when everything's up, that's usually

not too great time to buy it. You might get a downtraft. But we have had a series of really

ugly days for the NASDAQ led by NVIDI. Yeah, it's been a pretty volatile week. Of course,

you had some early selling in the morning, followed by some dip buying in the later afternoon.

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