Every weekday, Jim Cramer’s CNBC Investment Club releases the Homestretch, a practical afternoon update to coincide with the last hour of trading on Wall Street. Jeff Marks, Director of Portfolio Analysis at Jim and Club, recorded a special video for Tuesday’s edition in response to the stock decline. Despite stock prices falling across the board Tuesday, the club still hasn’t seen many buying opportunities, Jim Cramer and director of portfolio analysis Jeff Marks explained in a special video edition of The Homestretch. In a trade like Tuesday, with the Nasdaq Composite and Dow both down more than 1% and the S&P 500 down nearly 1%, investors are always on the lookout for opportunities to buy stocks that have fallen more than they should. “We’re watching and waiting,” Jim said. “I’m scrutinizing everything today. Since the average is going down, I thought there might be more to buy. I don’t think there’s much to do.” The reason is simple. A decline in a stock you want to take a bigger position in isn’t significant enough to justify a purchase. The group includes electronics retailer Best Buy, which added to its portfolio last week, and healthcare company Abbott Laboratories, which was slightly positive on Tuesday. “This is not enough,” Jim said, noting that Best Buy’s stock price is down just $1.60 per share, or about 2%. “Here’s the pattern, the pattern of not enough.”If there’s one interesting part of Tuesday’s market, he said, it’s cybersecurity. Palo Alto Networks is “at a level that I’m very interested in,” Jim said. “The only thing that hit me was Palo Alto.” (For a complete list of Jim Cramer Charitable Trust stocks, see here.) As a subscriber to Jim Cramer’s CNBC Investment Club, Receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust’s portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
Every weekday, Jim Cramer’s CNBC Investment Club releases the Homestretch, a practical afternoon update to coincide with the last hour of trading on Wall Street. Jeff Marks, Director of Portfolio Analysis at Jim and Club, recorded a special video for Tuesday’s edition in response to the stock decline.
