 Tech stocks went down before the market opened, okay? That brings out buyers, all right? So then the buyers have come into tech, and tech is now moving up. In order to see whether it's truly the end of the rotation, you have to see several stocks go down. The hottest group has been Telecom, Verizon and ATT. If those give up some points, if the rails, the second hottest group, go down and give some points up. And if the banks, even though rates are a little bit higher, give up some points, you will see that money shift back. Now, in order for the tech stocks to rally, you need to see the retailers come down. I would focus on Dollar General, that's about the report. I would focus on Macy's, that has moved up the most. So if you see those stocks, those are what I call, Scott, the tells. In other words, you watch those stocks. You see those stocks stop advancing that I just mentioned. Then you will see a real effort to mount a rally on the techs. Now, the problem with this is we do these videos very early, okay? So you probably are going to have a group of people who say, wait a second, I am so glad I can get out of Nvidia, so glad I can get out of Broadcom, so glad I can get out of Micron, that you'll see another dip down. Then you've got to watch to see if those stocks that I mentioned, that are listed, that are in the banks, that are in retail, that are in Telecom, you have to see if more money comes out of those. If that's the case, then you'll see again, into the oversold group, more money. The stocks you must watch are Micron, down horribly. Lambda Research and Nvidia. Don't forget, Nvidia is down, and I've not talked about it to anybody. It is down basically from 219 all the way down to 180s. It ticked at 184, 185 today. So that's a very good tell. If Micron can hold 40 and go back up, that will be a good tell. But you have to stay focused. For instance, when you start by saying the tech stocks, they're not doing well. You have to recognize that they open down. That is often a classic case of when money comes in. But remember, it's a very long day. So you cannot presume anything in the first two hours. You have to wait to see if people want out of these stocks because they need the capital gain and they move into the stocks that don't have capital gain. So that's what has to happen. That's what you must focus on. All right, we'll watch that closely. Meanwhile, what happened to AutoZone? I thought they were supposed to be heard by Amazon. No. And as we said last week, as I said at the Deal Economies Beach, I felt that it was time to buy AAP, okay? And I felt that this group was dramatically oversold and it was time to buy them. So I made a good call. I think that one of the things that's happened is, is that if you go back over some of the things I said at the Deal Economy, for instance, David just spent a huge time saying that Disney is going to buy Fox next week, okay? Going to buy, that was something I predicted point blank at the Deal Economy. And I also said that Advanced Auto Parts is signaling that the Death Star, which is Amazon, has run its course, which is why AutoZone is having such a big move. It will be interesting to see if AutoZone now goes after Advanced Auto Parts, now that AutoZone stock is up. Throughout this downturn, AutoZone bought a huge amount of stock. Now, you know, this is one of the greatest buybacks that we have seen on the New York Stock Machine. So we've got to stay focused on whether AutoZone can hold this. I think it can. And I think that the Amazon threat is very overstated when it comes to the Auto Parts business. And you talked about that on Med Money, how just because Amazon enters a space, it takes years for that damage to potentially occur. Well, one of the things that we were looking at is that when Amazon buys Whole Foods, you pick up about 450 stores. Now that is, if you're in the blast zone, consider this to be like nuclear war. If you're in the blast zone of a Whole Foods, there's going to be a real problem if you're a grocery store. But Walmart has done quite well. Walmart's the stock I like very much. And Kroger, a company I don't really care for, but last night I said Kroger is starting to have a response. Now, Kroger's response is very interesting. I want people to understand this. What Kroger is doing is going to local restaurants where Krogers are and say, we're going to give you a spot in a Kroger store where you can open a kind of mini restaurant. What does it do? It makes it so Krogers are far less cookie cutter and makes it so that they're more exciting. They are trying to have an experiential view at a Kroger. Now don't laugh at this. They can do that because when you have a cookie cutter grocery store which does not have anything special in the neighborhood, it does work. So now one of the reasons why I know this is one of the greatest grossing Whole Foods happens to be in Brooklyn, quite near for me, just a few blocks. Maybe the greatest grosser in this area, why? Because they accentuate local producers. And there is something that has to do with local pride that everybody's playing on. Kroger has looked at this, I imagine, looked at this Whole Foods. Kroger also has a very smart group of people who literally are trying to figure out what different age groups are wanting. So I mean Kroger, now Kroger is the stock that has moved up a lot like Macy's. You want to see Kroger cool if you want to see a video go higher. What do they have to do with each other? The money that is coming out of the rails, coming out of retail will flow back to tech. But remember, it is early. If we were doing this video at 12.30, I would feel better about how tech's going to do. All right, meanwhile, what did you think of Toll Brothers' earnings? Well, you know, Toll Brothers was up 63% coming in. I think there are some things which very concerned me that David Faber brought up, which is that the value of a Toll Brothers property in New York or New Jersey has very likely, since these are high properties, expensive properties, lost value because of the change in taxes. So I think there's a sense, even though orders were good, that maybe orders can't keep up with this sudden change in the tax code. Now you understand what's going on in the tax code. You can, before this, you had state and local deductions. So it made it so that these houses in very expensive areas had this terrific tax break. That's going away. So if you own a house in Jersey, I own a house in Jersey, it is immediately worth less. If you're buying a Toll Brothers property, it will immediately be worth less. So what people are thinking, if your stock's up 63%, is that there's no way they can maintain this price point given the sudden change that we have in the law that very few people are looking for? All right, well, watch how that one plays out. Meanwhile, Barclay's upgraded Slap, they say it's a snap, but they say it's a good time to get in. Do you agree? That's Ross Sandler. I mean, what he's doing, I have felt that there will come a moment where snap is worth more than it's selling for. And that came last week when I said the separation of snap social media from snap news showed a level of maturity that made me think that Spiegel, the guy who runs the company, has heard the footsteps and recognizes that a lot of people get their news, younger people get their news from snap. That matters, being more algorithmic matters, they came public too soon. It's not unlike Facebook. Now, it is no Facebook, but what I think people are recognizing is that you can coexist, that you can have Instagram stories and snap because snap does quite well. Would I buy snap here? The answer is yes. And now this is the same analyst who yesterday upgraded Blue Apron. Did you like that? Well, I mean, I think the main thing is he told you to get out of Blue Apron. I think he's declaring a victory lap that makes a lot of sense to me. All right, meanwhile, when it comes to action alerts plus names, last week at their investor conference, Illinois Toolworks, talked about this transition from phase one to phase two. Right, well, the organic growth is there. Now, I mentioned at the deal economy, and I'm urging people to go back, given the fact that I nailed to Disney and talked about what's happening in auto parts. I feel that there's a lot of momentum to the industries. And Illinois Toolworks is talking about nice low organic growth, but two to four. But talking about acquisitions, and I believe that they can either buy well-built, which is something I suggested at the conference, or sell their really very good restaurant commercial business, and then make well-built worth, worth more. Either way, the takeaway here is to buy well-built. Now, how do I know this? I own a restaurant. I'm looking into another restaurant. The first thing you do when you see this, is you look for ice machine. You look for fryer later. You look for ovens. Okay, those are what really determines, you're looking for energy saving devices. You're trying to be able to make it so that your restaurant's gross margins are higher. The two companies you tend to look at are, well, you look at Middleby. You certainly look at Marmin, which is owned by Berkshire Hathaway. You'll look at Illinois Toolworks because they own a very important division, and you'll look at Well-Built. Well-Built's the odd man out. They're either going to be, I believe, acquired by Illinois Toolworks or by Middleby, or they will do the acquisition because Illinois Toolworks has underfunded this particular aspect, in part because we know there are too many restaurants and maybe it's not the way to go. But Well-Built has, they can't get out of their core business by Well-Built. What about tax reform? Will that help Illinois Toolworks? Yeah, to some degree. I mean, I think that they have some domestic. It's not like retail, and it's not like a restaurant where you're seeing, and not like bank, where you're really seeing some radical declines in tax rate. I went through some tax rates last night, I may have money and they're pretty stark. But remember, that's yesterday's story. It took people by surprise. Now we're starting to see some money revert. But again, I say that it is too early to make a judgment on tech. We own NVIDIA and we own Broadcom. I particularly like Broadcom here. But NVIDIA, if you can get it at the price where it was trading ahead of time, if it comes back that way, you want to buy some NVIDIA. It's time has come. I have not pushed it on the way down. I think NVIDIA now represents not value but an opportunity. And you mentioned Broadcom. Anything you're expecting from their earnings tomorrow? You know what? I think that Broadcom is now a story about buying Qualcomm and the ability for Hock Tann to be able to squeeze Qualcomm by placing its slate of directors. I think that when you look at these tech companies, they've not been trading on earnings. They're trading on the idea that say for a Katie Ubert idea that Flash is now joining DISS as being oversupplied. That's one of the reasons why I have not pressed people to buy LAM research as it's come in. I do like Applied Materials because it has display, which is a very good business. But I'm watching Apple. And the one that I really think is the cheapest is you look at Alphabet on 2019 earnings and you see that Alphabet is far more than just Search. By 2019, you're going to see dramatic numbers coming out of Waymo. You'll see dramatic numbers coming out of YouTube. But most important, you'll see dramatic numbers coming out of Cloud. All right. You're going to have a lot more information on these stocks tomorrow's Action Alerts Plus call. Yeah. And we are going to address the failures because I like to do that. And one of the preeminent failures is Allergan. Once again, you have them on the other side of a particular study, this Revance. Now, when I look at Revance, it's not going to be until 2020. The label's not going to be as advantageous. You have to have much more of it versus Botox. But the fact is that Allergan's become an accursed stock. And we have to address that. On the flip side, one that I wish that I had bought because I was very bullish on it is McDonald's. That's a very big. That's a what it should have could have name. If that name had come back down, I probably would have reached for it. A lot of the stocks that we're going to be talking about are the mistakes that we made. A lot of them are going to be talking about the notion of what to do when a stock has run too much. We're going to have some lessons at the beginning of the call, five lessons. Then we are going to identify what we think are the core holdings. And then I will talk about the existential nature of how to be able to judge us on a daily basis, which is going to be including special calls that we're going to make down here, which I think is very, very important to try to do it as much on a daily basis as we can. And talk about the macro because what we're trying to make for club members is a one-stop shop. All you need to be able to make decisions at least on our stocks. But remember, I like to show what we did wrong. And the allergen declines is a holdover stock from the old regime that we had. One of the few, along with GE, tells you that unless you take the losses when you can, you end up riding a stock down. Now, is allergen a sale here? What we did was a sum of the parts analysis, which told you why it's not worth selling. We did not make the case to buy it. That said, of course, obviously, it is distressing to watch a Job-like stock keep going down. It is going to probably be subjected to more downgrades. But the core analysis is the sum of the parts is worth more than where the stock's trading. All right. It's great information. And go to actionalertsplus.com to sign up. Now, we have Dollar General coming up, a very important earnings report, very interesting article in The Wall Street Journal about how it's become a place to shop. I have said that we think that Dollar Tree moved up Dollar General to the point that perhaps Dollar General may not be received as well as people think. If I owned Dollar General, I would trim some going into that quarter. All right. Jim Kramer, we'll leave it there. Thank you so much as always. All right. For more information on the stocks, Jim mentioned, go to thestreet.com.