Jim Kramer here to share with you a sample of my take on the market from today's

CMBC Investing Club warning meeting.

You know what they're saying, Jeff? You keep hearing about this broadening out, going back

to the mighty dowls we like to joke about and getting away from a Big Cap Tech.

Now, look, I want to make a point here big big cap tech has had just a giant

move so i just think that's totally i i think that's understandable but what i thought was very

interesting about the dow is drug stocks up and we can talk about j and j i bm up which is you know

a company that is chronically undervalued if you think they'd really have a good cloud

strategy. And chips a little bit weaker because Taiwan Semi did say that frankly that the CPU

is kind of finished. China's in trouble. Very interesting call. And we had some big earnings

reports last night, Netflix, Tesla, seeing some selling in both. Both were, I think, generally considered

good reports, but perhaps some sell the news after such big runs. Yes. The group has had money

rotating into other areas. By the way, there's a rebalancing coming up soon. Tesla, Netflix's not

really affected, but Tesla is one of the news on the West. Yeah, and I just want to say in Netflix,

these are not our stocks, candid Tesla is one of the news. Yeah, and I just want to say in Netflix, these are not our stocks, candidly.

Netflix, the banking on the customer who's going to take the ad tiers, the key way to look at that,

because the ad tier customers worth a lot more than the customer who doesn't take the ads.

And on Tesla, you have to understand that he's in it to win it big time. He's not in it for the quarter. And anyone who's ever sold or bought it for the quarter, it's been stupid. It's been wrong to do. Which, by the way, the ad tier, Disney trying to build that out, right? Coming to Europe, I believe, later this year. But they're just behind. They're behind Netflix. But, Disney asked, Bob Agar, memo, go listen to the Netflix call it. Now, those guys, just, you know, both companies are not promotional. And Netflix was this kind of very odd, free-flowing discussion among really serious practitioners of the game. It was not about buying the stop. They don't do that.

Meanwhile, Jim, the S&P oscillator, which we always closely follow, back to overbaud, above 5%.

4% threshold is when it's overbought, but over 5 is when I know you get a little bit more cautious.

Right, and this is why, now you usually shouldn't anticipate the oscillator, and we do have a deal for people who want to take the oscillator. But I'm always worried about plus five. The reason I'm worried about plus five, plus five to plus seven, is when you get very excited and you feel like, geez, it's really terrific. But then look at what happened with Netflix and look what happened with Tesla. You get vulnerable, okay? I don don't want our viewers to be, our club members, to be vulnerable.

I want them to be ready.

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