It's Jim Kramer here.

You're listening to the opening bell of CBC's Squawk on the Street.

Don't miss a minute of the action. Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Keyneson Neo with Jim Kramer at Post Night of the New York Stock Exchange. Faber has the morning off. The story flips today as NVIDIA looks to bounce after its worst three-day drop in a year and a half. What does that mean for this recent rotation as we look ahead to FedEx tonight?

Our roadmap begins with that NVIDIA correction.

Eye on the bounce after the tough three-day slide. B of A adds it to best of breed today.

The EU's new tech target accusing Microsoft of breaking some antitrust rules. And we're watching

the plane makers, airbus cutting targets,

and Boeing reportedly in talks to buyback spirit, mostly with stock. Let's begin, though,

with NVIDIA looking to rebound after sliding into correction territory, Jim, even though

since the close on the 14th, S&P's up a touch. Yes, but look, I don't like rallies that start in pre-opening. And the reason I don't is because then anybody who's in it yesterday who bought it, say, any, but 118, there was a lot of I'm, 19, a lot of I'm. There was some buying 117 after the close. Those people are going to flip. They're going to hit. They're going to hit. They're going to hit. That's going to make other sellers come in.

What you really want to see is you want to see it open down and then rally. And this takes away the opportunity. So the people are not, I think, going to be able to say, let's make a stand here. Unless Micron, they have Micron, they don't have Micron because they're not going to report the tomorrow. So I look at the situation and I say, wait, wait. And look, I'm going to own it, don't trade it. But I always want to, apropos of our Thursday, investing club media. I never want people to get a bad entry point. And I don't think up three is the right entry. You don't think we're there yet. No, we haven't had any. We need Sanjay Meroa to say, look, the business is accelerating. He's Mike Ron's CEO. The business, the complex of data center. Right now we don't have any new data points that make me feel like, you know what, the street, there's someone who upgraded again. It's all very lame.

The defenses are lame because it's had such a big run.

So I say, let's see if this early morning rally can hold.

But my sense is that there'll be people who are saying, oh, thank heavens.

I thought I'd never see this price again. And those are the people that you're most afraid of as your fellow shareholders are an enemy here. They're your enemy.

That's why we turn to you, Jim, for that, for your gut, in a sense. That said, yesterday, even with its decline, you had 9 of 11 sectors green, 70% of S&P components green.

Does that continue?

That rotation?

I spent a lot of time trying to figure out how much of a share donation can these big

companies make on Microsoft.

But Microsoft wasn't down that much Apple.

That ain't donated share.

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