Cramer's Morning Take: FOMO Trading 11/6/23
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 6 November 2023
⏱️ 4 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 |
| 0:06.5 | CBC Investing Club morning meeting. |
| 0:10.0 | It's a sort out week where we're just kind of sorting out. |
| 0:12.4 | You do have the market now a little bit overbought according to the S&P oscillator. |
| 0:17.6 | So you have that working against you at the same time. |
| 0:20.2 | You brought up this idea where there might also be some FOMO as well. |
| 0:24.6 | I fell FOMO for the first time in a long time. |
| 0:27.6 | Right. |
| 0:28.6 | Well, that tends to happen when you have a week where the S&P gains 5.8%, NASDAQ over 6%. |
| 0:34.6 | So it's sort of in a bit of a sort out mode, not as much earnings to sync our teeth through. |
| 0:39.3 | Oh, this is a very slow week. |
| 0:41.3 | Not a lot of economic data. |
| 0:42.3 | I don't think people realize, but earnings season ended with Apple. |
| 0:46.3 | Yeah. |
| 0:47.3 | There's really nothing. Apple and Starbucks for us, I think that one of the things that people should recognize is that the action in Apple is rather incredible |
| 0:56.1 | because nobody liked the quarter and people think Vision Pro is going to be a bus. |
| 1:00.9 | People think that there's been a decisive end to growth and yet what people don't understand is that |
| 1:09.2 | the growth is of by country and by user. |
| 1:12.7 | The way you look at the company is you look just as you would with meta, 2 billion users. |
| 1:18.1 | And you get 2 billion users, they can take a lot of services. |
| 1:21.1 | Services will be bigger than iPad and it'll be bigger than Mac and bigger than wearables altogether. |
| 1:27.3 | So that's what you're |
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