Hey, it's Kramer, and this is my morning take on the market from today's CNBC Investing Club morning meeting.

Now, today, Jeff, we are not following through with the last five minutes of yesterday's training.

Yes.

And we're just giving it back that late day pop that did send the S&P to a new all-time high.

Right.

I mean, let's take advantage. Let's talk about Texas Roadhouse, up five yesterday,

down two today. That's kind of where we are. I find that there are some stocks that are doing well,

but they tend to be in very niche areas today. Honeywell, which we just bought. Do we want.

Yeah, we added our position this morning.

They spoke also at a conference, a Barclose conference down to Miami this morning, still

working my way through that.

But I think the reason why we are buyers again after doing a lot of selling from late

November to early January is that

we were concerned about earnings guidance, the outlook, and now we've seen the outlook,

and we think they've set a conservative level where they can be through the year.

That's like what happened with GE Healthcare. They finally set the right level.

I would point out that the automation division must be fixed and that's addressed soon. But we now know it sucks. So like, so if something sucks and then you come, you get the report and it sucks, it's not like it's like, wow, it sucks. You just say, okay, that's what we thought. Yeah, their guidance for the year assumes no recovery in a short cycle business. Unlike last year when they initially said 24 guidance, they were talking about a back-half acceleration.

That never happened.

So why not just set a low expectation this year under promise, no recovery?

And if you do get a recovery, well, you're going to do better.

And if they do better and they're able to beat and raise, the should work even though um you know the breakup timeline it's going to be lengthy it's going to it's a

2026 situation but it should create three better run companies right at the end and i think that

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