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. Stocks bounced off their morning lows as the market consolidated its recent gains and worked off its overbought condition. A rally in bonds and decline in yields were supporting stocks. With the market overbought we were looking to raise some cash and trimmed our position in Meta Platforms (META). As Jim Jeff looked over the portfolio, it was brought to their attention that our META position swelled to a point where it was time to right-size shares in the portfolio. As a rule of thumb, we don’t like any particular position in the portfolio to be more than 5%. With our recent trade, Jim said he’s also evaluating the Club’s position in underperforming stocks like Estee Lauder (EL) and Foot Locker (FL). Both companies have fallen victim to a pressured consumer and questionable moves by management. “Arguably we’re going to have to take action,” Jim said. The sneaker retailer will be reporting earnings this Wednesday before the opening bell, giving us a chance to reevaluate our next moves. The stock also had another downgrade today by Citi. We’ve already scaled back our position Foot Locker but have yet to do the same for Estee Lauder. Elsewhere, there were a number of stocks in the portfolio making new highs today like Microsoft (MSFT), Palo Alto Networks (PANW), and Costco (COST). There were also some buyers coming back to Nvidia (NVDA) after a few days of post earnings weakness. (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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