Hey, it's Kramer, and this is my morning take on the market from today's

CNBC Investing Club morning meeting.

What I'm concerned about, and it's actually I'm in sync rarely with Mike Wilson, the

most bearer strategy on the street, but I do think that we've come as about as far as we can,

given the fact that we have a minefield of many fed people who are speaking, we've got

a pal on the hill for two days, the idea that there can be a reporte about how we have

to have a recession or to be able to beat inflation.

I think it's going to be front and center.

The only thing that I thought that was really not in keeping with the script

that I laid out was that the housing stocks were far better than people thought. And I've been saying,

including that memo, that the reason why that inflation is so intractable is point blank because

rents are high. If they, you know, the housing prices were in the CPI until 83 when people thought that

what happened is, geez, that's 40 years ago. What happened is it was distorting the number. It's the

opposite. If we had homes in the CPI, you would see exactly how hot things are and how it must come

down. So I'm with Wilson for the week. We are overbought, not as bad as Thursday.

But, you know, when you want to see what disappointment looks like, just take a look at Dan

or her. I mean, it's not even the culprit here. I think Danor is probably something you would

buy if we were not waiting for more down prices, Jeff.

Yeah, and we've been raising cash last couple of weeks,

getting cashed around 9% ahead of what could be a little bit of a short-term

pause in the market.

But you mentioned Dan Heard.

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