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

CMBC Investing Club morning meeting.

This is one of those days shifts that there's peace out for Bank of America this morning,

which talked about why things are gloomy and all the things that go right, and it colored

the opening.

But we do have a Fed Open Market Committee meeting, and I have

found historically that to try to game Jay Powell, whom I think is very smart, is not really

possible.

So people who say he's going to be tough, people who say he's not going to be tough, they

don't know what they're talking about, because he once said to me, he keeps his own counsel.

And he doesn't blast out his counsel. We have the Wall Street Journal fellow who is a Fed whisperer. But at any given moment, Jay Powell may say, you know what, I've got to be a little harder. And that's why it's so hard to try and game these events, right? Powell will start talking. You might get a big rally, a big sell off based off of, you know, as people parse through his language, as they parse through the Fed statement as well, very, a lot of volatility. I mean, it's, it's one of those types of days. Yeah, and then there's these people, you know, it comes in at two, and they just send it down. Then you said, do they know anything? And then you see the presser and he comes back up And I want people to be able to like certain stocks that we own that you know I'm going to talk about tomorrow. And maybe you're bidding underneath for some Disney. Maybe at 80 and a half.

But we usually sit on our hands, which is totally fine on this type of day. But I do want to go back to the Bank of America note that you referenced at the top.

Because yesterday we felt like the market was only reacting to negative news.

That was the only thing that can happen.

But at some point, and there's always a level where as things get so negative, you have to remember things can get better.

And I feel like that was kind of what Bank of America was suggesting that, yes, there is some gloom out there, but, you know, everyone hates stocks and when everyone hates stocks, that's actually when you need to buy. I mean, what's really interesting is that we all kind of know there's probably going to be like one, two, maybe three hikes. And then we're done, okay? When they're done, you get a 13% increase on average.

It is very difficult to bail now, which is why I've been saying we've got your cash.

When the market comes down, you've got to do some buying. Now, for instance, this morning,

we found out how many people were being hired by Amazon. And it's humongous. And it tells me, again, if you don't own some Amazon, you're getting a price that I know, look, is it here, that ship's sale. Okay, that ship's sale. Yeah. But, you know, you're buying it on the trend line, and that intrigues me. So I think that that's something tomorrow I talk about how it's the right price to buy it.

It just is. No, yeah, it made a 52-week high. I pulled back, you know, three, four, five percent. I found what was interesting with the amount of people that they're hiring, not only more than last year, 2019 as well, but if you look at some competitors, they're actually flat to down. So Target, Macy's, they've already put out their

numbers. I haven't heard from Walmart yet, but they're flat to lower. So perhaps this increase is a

sign that, at least for Amazon, they expect a strong holiday season.

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