Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. 1. The S & P Short Range Oscillator signaled a very overbought market even as the S & P 500 tracked modestly lower. We’ll see at the close whether the index’s eight-session winning streak will be broken. This is not a time to buy, Jim Cramer said. “You can only sell.” We trimmed Morgan Stanley after a nice run . On Monday, we exited Estee Lauder . After its recent rally and ahead of a baby formula trial, Jim suggested Abbott Laboratories could be trimmed. That gives us “optionality to buy Abbott if it goes down,” he added. Following solid earnings and a subsequent 8% stock rise, Jim said that trimming Palo Alto Networks might not be a bad idea, given its run higher. 2. Advanced Micro Devices rose another 1% on Tuesday, one day after announcing a deal to buy hyperscaler ZT Systems. The purpose of the deal is to expand its portfolio of AI chips and hardware to compete with fellow Club name Nvidia . “ZT makes it so they’re competitive. It’s a very important deal,” Jim explained. Investors are calling this acquisition an “acqui-hire” since AMD said plans to sell ZT’s manufacturing unit but retain 1,000 of its engineers. “They don’t have good training, meaning they need more data,” Jim added. “They need these engineers really badly.” 3. JPMorgan retail analyst Matthew Boss raised his price target on TJX Companies on Tuesday to $126 per share from $125. But he estimated that the end of TJX’s most recent quarter may not be that great. Jim agrees with Boss’ assessment. “You know I think it’s terrific,” Jim said, referring to TJX stock. But he added, “I would probably let some go if we weren’t restricted.” Shares of TJX, the off-price retailer behind T.J. Maxx, Marshalls, and HomeGoods, are up 20% year-to-date. (Jim Cramer’s Charitable Trust is long MS, ABT, AMD, TJX. See here for a full list of the stocks.) 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.
Jim Cramer names 3 stocks to possibly sell in this very overbought market
