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 stock market extended Monday’s strong session, led by investor optimism for an end to the Iran war despite a breakdown in peace talks over the weekend. West Texas Intermediate crude fell 5% to $93 per barrel, while March’s producer price index rose less than expected. Meanwhile, the S & P Short Range Oscillator moved deeper into overbought territory, which means “we have to be very careful not to buy today,” Jim Cramer said. Instead, the Club has been looking for positions to trim. On Monday, we booked gains in Broadcom after last week’s rally made it the largest position in the portfolio. 2. Jim Cramer said he would trim our Amazon position if we weren’t restricted. The reason is two-fold: first, we like to protect profits after parabolic moves, and Amazon is up more than 20% since March 27, when the stock hit its lowest close since the start of the Iran war; and second, the rally has pushed the stock to a weighting of more than 5%, above our maximum threshold. Jim’s call to trim is not a reflection on the fundamentals, which have been solid. Just this morning, Amazon announced an $11 billion deal to buy Globalstar to bolster its Amazon Leo satellite internet venture. Jim said Leo could turn out to be a real needle-mover down the line. 3. Alphabet was named an “upside 90-day catalyst watch” by Citi analysts, who also raised the stock’s price target to $405 from $390. The firm cited multiple upcoming events and product launches, including the Google Cloud Next event next week, earnings on April 29, and the Google I/O developer conference in May. “You want to hold on to this one [stock],” said Cramer, who has especially high hopes for next week’s conference, where Google Cloud CEO Thomas Kurian is scheduled to speak. “They’re doing so much that’s right,” Cramer said. Last week, we bought more of the Mag 7 stock. 4 . Stocks covered in Tuesday’s rapid fire at the end of the video were: JP Morgan , BlackRock , Dow Inc. , Ford , General Motors , and United Airlines . (Jim Cramer’s Charitable Trust is long AVGO, AMZN, GOOGL. 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.
