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 continued to sell off in late day trading Thursday with the market still staying in overbought territory. We would like to see overbought conditions before we do any buying. Shares from some high-profile companies like Walmart (WMT), Cisco (CSCO) and Palo Alto (PANW) pulled back after they reported their latest earnings. Meanwhile, pressured U.S. consumers are compelling retailers like Walmart to sell goods at lower prices. Shares of Club holding Costco (COST) fell 3%. Cybersecurity firm Palo Alto fell nearly 6% because elevated interest rates have keep customers from paying for multiple years of services up front. However, management reiterated it is still seeing great demand for its solutions. Alphabet (GOOGL) is bucking the trend, trading 1.6% higher. Jim Cramer said he’s wary about the high concentration of some stocks in the portfolio like GOOGL. While we’re always keeping an eye on our “own it, don’t trade it” stocks Apple (AAPL) and Nvidia (NVDA), making sure our positions don’t get too high, Jim said Alphabet is “not as great as some of the other stocks we have.” And since we’re overbought, at a certain point, he said it’s reasonable to take some shares off the table. (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.
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