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

The first thing I want to mention is not to just go right to June, but a little history.

May turned out to be a tough month, except for a very small handful of stocks, of which we had every one except for Tesla.

Yeah, sure.

If it was tech or a semiconductor, those stocks all did well.

So the Amazon's meta, of course, Nvidia, the star of the show, AMD.

So many of those, but elsewhere in the market, it was really a struggle.

And many, many sectors were down.

We do have a chart, the S&P versus equal weight ETF, somewhere in there where you can see the difference and the divergence between the two.

And that really, you could see in May, that's really what it started to.

Well, so the S&P 500, of course, is market cap weighted.

So the higher the market cap, the more of the weight you have in the day.

So Apple is the largest market cap.

But equal weight values every stock on equal footing, right?

So an Apple has the same weight as TJX or GEHe Healthcare. So the moves are more

pronounced when the big stocks are doing well in the S&P 500, but the equal weight kind of shows

you more of a balanced look. And it's been a down year for the average stock in the S&P.

Well, I mean, I carry around things like footlocker, like a steamer trunk. Sure. I saw some people this weekend made fun of me. That's okay. I find that. I'm a big guy. Made fun of it for 42 years. But what I would say is that I saw someone last night who's in the business on TV. You said, how did you get in video? And I said, the answer is all these people fade invidia in that

first move because it's up so much and that's fine you can fade it but you have to come back to it

because invidia is a game changed company as were the others that we mentioned and what's important

is is that this could easily come down here and it would mean nothing to me nothing Nothing at all because we own, we don't trade in Vivida.

So that's really important. However, when you look at some of the retailers, men, you got to trade them wama jambo, which is why I don't like them.

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