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

CMEC Investing Club warning meeting.

We are seeing interest rates go higher and that is what's behind a lot of the weakness in the market.

You and I were talking about the wonder of a six-month yield at 5.09%.

Yeah, I mean, it's going to create a lot of competition for equities.

That's why we're seeing some sales here because there truly is an alternative there when you can get a six-month of 5%.

The two-year at 4.7 people just are selling stocks, potentially just parking cash there.

We really need to see this rise in interest rates slow down a bit, I think, for the stocks to

stabilize here. This is actually, of course, the inverse of the market. Now, I went to Larry Williams,

who said that the middle to end of February would be the rockiest point of the first quarter.

And I think we're seeing that. But let's not forget, it's still earning season. We had a number this morning that caused great fright. Walmart, the world's largest retailer.

The top was down looking at down five at one point. The comeback says to me that people have to remember

that these companies are reporting and giving an outlook for the year and the outlook for the year

does not necessarily jive with what we get in that it certainly makes sense to give a global outlook.

Why be aggressive given the fact that the economy could be weaker?

There's nothing to it. John Rainey, who's the CFO of Walmart, used to be at PayPal, knows what it's like to guide too strong.

So Walmart, I think, was actually attractive. Home Depot is more difficult.

Because Home Depot is related to housing. The housing

cycle is very difficult to fathom right now. But with Home Depot, what you want to look at

is the size of the dividend. And the dividend boost was extreme, making me feel more confident.

That's the stock under 300 that I want to buy.

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