Every weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. Here’s today’s edition. Markets are off the lows of the morning, but the theme is still the same. Last year’s winners in technology and the Magnificent 7 are selling off while some laggards are catching up in a mean reversion trade. The Dow Jones Industrial Average is slightly up Tuesday while the Nasdaq 100 is off more than 1.5%. We’ve made sales in a group of our mega-cap tech stocks that had huge runs last year. Tech made a huge move in 2023 and it will be tough for those stocks to repeat those gains. The market is betting the bigger wins will be in other areas. That’s a big reason why we reduced our exposure to the Mag 7 and tech group this morning through small sales across eight different names that were up anywhere from roughly 50% last year to more than 200%. It would have been greedy of us if we didn’t lighten up and take something off the table. Sectors leading include Energy even as oil couldn’t hold onto its gains from the morning. Healthcare and staples are also higher as the market looks for groups that lagged last year. Utilities are doing well too even as Treasury yields are up today. On the downside, there’s a lot of profit taking in Tech while in Communication Services weakness has a lot to do with a fall in Alphabet, Meta, and Netflix shares. Consumer Discretionary is also lower off of weakness in travel and cruise lines. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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