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

There's so much your portal. So many of our stocks have been touched by research today.

But I want to start by saying that it's a PAL day and it's kind of a neutral day.

And I think most importantly since you and I always discussing what to do, it is no mansland on the oscillator. So it's very difficult for us to say, you know what,

let's plant the flag and buy some cat or let's do some selling of Lily. There's just nothing

that I see to do at these levels. Yep. And as we see again, yesterday was a nice rotation

back into the cyclicals with technology stocks lagging.

Well, again, there's no follow-through. We've seen this as a pattern in the last couple of days.

With tech stocks now leading, AMD down early, now nicely up. They're coming back to the Palo Alto's of the world.

They sure are.

Amazon having a big day.

Well, it's one of the reasons why, look, I remember, I never against anyone taking a profit. But the reason why we stay with the Magnificent Seven and why we stay with the Palletto is we always think in the end they do come back. And we don't think that necessarily whether they should or not. We were talking about they used to trade on earnings. I mean, now trade on Amazon Web Services Web Services. Trades on the idea that, I mean, Amazon Trade's on the idea that Amazon Web Services going to inflect. We don't know. We don't know. Right. And that was the, you know, the basis of a loop capital note today. They raised their price target to 180, which is a big price target from here. They're saying they in think the AWS inflections nearing consensus way too low on retail margins. Part of the reason why is because you have revenue from advertising growing. That's high margin. Commissions, that's high growing. But it feels like we're hearing a lot of that now, right? We had Jeffries mentioned that the other day. I don't believe it, by by the way. Assume you want everyone to know that I think Amazon Web Services is going down somewhat precipitably this quarter because it's just not... There's a lot of share take from others. The slowdown may continue for another quarter. Exactly. So, I mean, I think that when you see the next quarter, unless they make a very bold claim that it is going to inflect, then you should understand there there's going to be a lot of term. Let's say this term. Well, we know the market likes to look ahead. So if they're nearing this inflection, whether it's AI-related or macro-related, people will point to that. By the way, so you had the FTC case against Amazon yesterday about Prime going after how hard it is to cancel Prime.

JP Morgan's, based on their analysis, they say today that a Prime subscription is worth $1,225 per year,

almost nine times the actual annual price.

So, you know, that's the case that, yeah, maybe it's tough to cancel, but it's still one of the great all-time deals.

I mean, yeah, Costco's easier to cancel, okay? Big deal. I have to tell you that I think that when the FTC, if you take a look at a law review article that Selena con wrote a second year law student about the impeding Amazon, you almost feel like it's such an amateur hour what's going on in Washington.

I mean, this is just insane. I went to law school. I kind of followed this stuff.

This is amateur. It's amateur and petty.

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