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

CNBC Investing Club warning meeting.

We've got a benign bomb market and we've got a lot of stocks doing what we thought they

would do because we are in a position where if your company is incrementally better, the

stock's going to go up and if your company is incrementally worse your stocks can get clobbered and And if your company is incrementally worse, your stock's going to get clobbered. And that's the story of Stanley Black and Decker versus Procter & Gamel. Yeah, I think that's a perfect explanation. Maybe let's start with Stanley Black and Decker. You can see shares hitting what I believe is a two-year high off of a very nice earnings beat. But we're talking 1% organic growth. Now, they haven't been

seen growth so that does matter in the quarter. They raise their full year guide, raise a free

cash flow guide, buying back, paying down a lot of debt, supporting a nice big dividend yield.

But again, it's this notion that they are seeing sequential margin improvement from all the

costs take out the inventory reduction. That's what Fortune Brands' innovations did the same thing.

The end markets weren't good. But now people are saying the end markets will be taken care

by the Fed. So you've got people going to get a jump on the end markets. And that's what you're

seeing right here with a company that frankly, we picked because of this. We said over and over again, particularly right down here. Look, it's a rate play. There's nothing we can do. Exactly. That's exactly what it is. And that's a thesis. I know the CEO, you had them on shortly after the last quarter, and you kind of gave this concept the stock could be spring loaded once the Fed

starts cutting rates.

Well, we're going to have a Fed meeting tomorrow.

They're not going to cut rates, I don't think, but maybe setting that up for the next meeting.

And you can see stocks like to anticipate things, right?

And that's what's played out over the last couple of weeks.

The stock's gone from below 80 to 104.

And we bought this when it was most horrible. It was very difficult to buy. We discussed it at nausea.

And we realized, you know what, if we don't do it now, we're never going to do it. And bingo, that's what happened.

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