Every weekday, CNBC Investing Club with Jim Cramer publishes the Homestretch – an actionable afternoon update, just in time for the final hour of trading on Wall Street. Jim and the Club’s Director of Portfolio Analysis, Jeff Marks, recorded a special video for Tuesday’s edition due to the stock sell-off. Stocks fell across the board on Tuesday – but Club doesn’t see many buying opportunities yet, explained Jim Cramer and director of portfolio analysis Jeff Marks during a special video edition of Homestretch. In sessions like Tuesday, with the Nasdaq Composite and Dow Jones down more than 1% and the S&P 500 down almost 1%, we are always on the lookout for buying opportunities. stocks falling more than they should. “We watch and wait,” Jim said. “We’re looking at everything today. Since the averages are going down, I thought there would be a lot more to buy. I don’t see much to do.” The reason is simple: declines in stocks we want larger positions in are not significant enough to warrant a purchase. This group includes electronics retailer Best Buy, which we added to the portfolio last week, and health care company Abbott Laboratories, which was slightly positive on Tuesday. “That’s not enough,” Jim said, noting that Best Buy’s stock fell only $1.60 per share, or about 2 percent. “It’s the model: the model not enough.” If there was one interesting aspect of the market on Tuesday, it would be cybersecurity. Palo Alto Networks “is at a level that I’m very interested in,” Jim said. “Palo Alto was the only one that struck me.” (See here for a complete list of Jim Cramer’s Charitable Trust stocks.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after a trade alert is sent before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after the trade alert is issued before executing the trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, AS WELL AS OUR DISCLAIMER. NO OBLIGATION OR FIDUCIARY OBLIGATION EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
Every weekday, CNBC Investing Club with Jim Cramer publishes the Homestretch – an actionable afternoon update, just in time for the final hour of trading on Wall Street. Jim and the Club’s Director of Portfolio Analysis, Jeff Marks, recorded a special video for Tuesday’s edition due to the stock sell-off.