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 were bouncing around as the market consolidated its recent gains. In a very overbought market, we raised some cash and trimmed our positions in Meta Platforms (META) and Alphabet (GOOGL). As Jim and portfolio director Jeff Marks looked things over, they noticed the Club’s Meta position swelled to a point where it was time to right-size it . As a rule of thumb, we don’t like any particular position in the portfolio to be more than 5%. As for Alphabet, the stock has rallied more than 25% since our last trim in May, outperforming the S & P 500 ‘s gain of about 10%. So it seems ripe for some profit-taking . With our recent trades in mind, Jim said he’s also evaluating Club positions in underperformers 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 — set to report earnings Wednesday before the opening bell — caught another downgrade. We’ve already scaled back our position in 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 Monday such as 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.
