We’re selling 75 shares of Chevron (CVX) at roughly $151 each. Following Tuesday’s trade, the portfolio will own 225 shares of CVX — decreasing its weighting to 1.22% from 1.62%. Given our previous commentary expressing our regret for not taking more care to protect profits in our energy holdings, we are taking action Tuesday as shares of Chevron regained some of the ground they lost in recent weeks. Moreover, while the market had reached a heavily oversold condition in the middle of last week as indicated by the S & P Short Range Oscillator, it has since exited that oversold condition. As a result we cannot be undisciplined and simply let shares run as further strength from here will be harder to come by than it was since last Thursday afternoon. That’s when shares recently bottomed out and started their roughly 8% rebound to current levels. We spoke in detail about this need to be disciplined during Tuesday’s “Morning Meeting” and now to confuse it was conviction. On the Chevron trim, we’ll realize a gain of roughly 30% on shares purchased in mid-December 2021. At a higher level, in addition to locking in profits, this sale will provide us the ability to pickup shares of high quality tech stocks that remain out of favor but appear to be catching bids at current levels and in some cases, think Alphabet (GOOGL) and Meta Platforms (META), are trading at value-stock levels despite their double digit growth rates. (Jim Cramer’s Charitable Trust is long CVX, GOOGL and META. 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.
