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

We had some numbers just a few minutes ago called the Joltz, and we also have some facturers showing that there is a deceleration in the economy,

and it immediately costs interest rates to go from being up to being down. And I think that's going to impact

an otherwise directionless market. Yeah, a little bit of a flatter start today, but I guess the

market is viewing that as bad news is good news in terms of maybe we're near the nearing

an end of the Fed tightening cycle. Right. This jolt's market taking it is like negative. The way that you have to forget these terms, I hate to use these terms.

The government was a survey out about whether it's harder to get a job than it was before, and it's getting easy.

But it's getting, it's, there's more slack in the system.

There's no slack. This is a measure of slack.

Is it making it so that that wages are going to go up or down?

The indicator came in and indicated that wages could stabilize to go down.

And that's what you need to figure out.

And adding another wrinkle to this all is oil is extending its gains after that surprise cut by OPEC over the weekend.

So add that in for another inflationary factor.

You can see up a slightly...

...withup a little bit more earlier.

Giving our style, you know what our style is when we get this overbought.

We look through our portfolio and we decide what we think is surfeit.

What you don't need, what you think should go.

And remember, we always do that away from the field of battle, which is why we downgraded Devin to a three, betting that they'll come at time to sell it. And we've got it. That time has come. It turned out to be in total, a very, very good investment. Why did we not stick with it? They missed the quarter in a way that I found unpalatable. Right. Capital efficiency problems, their CAPEX budget for 23 higher than expected,

but that was coupled with lower than expected production. So a bit of a double whammy there compared to Pioneer who also felt it on the CAPEX side,

but their production outlook was higher than expected.

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