Jim Kramer here to share with you a sample of my take on the market from today's CMBC Investing Club warning meeting.

We need to see longer interest rates stop going higher at a quick pace.

I don't expect them to stop going higher.

I just don't want them to, if they take their time, then the stock market would be okay.

Gradual moves over time is what we want to see.

Not huge volatility swings.

High velocity means sell.

Low velocity means we're okay.

You know, we've got to see these last year's losers.

Now, the ones that have shot up.

Unprofitable tech stocks.

No, and I mean, the one you need to watch there is HubSpot.

It's a very good company.

It is profitable.

But it went up 40 points on last week on Friday.

Monday.com is no one to look at.

And when these bounce back, that's no good because we want Palo Alto kind of profitability which is gap

profitability and we'll get to Palo Alto in a second banks no we don't have

them yet they got to be able to figure out you know what to do but I'm

more interesting back at 97 by the way Wells Fargo back on a one I regard as

being a not that important as you see incursion yep the separation of

winners and losers in retail which brings me by, by the way, T.J. X. Where yesterday I said that they were going to sell it down. We'll go into that in a second. Resurgence of recession-resistant stocks as well. That's your health care, your staples. That's Proctor and Gamble. J&J. Right. J&J, I think, is bottoming here. Proctor, I think, is about to make a move.

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