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 Monday’s key moments. ‘We are not greedy’ Take Nvidia profits Watch AMD 1. ‘We are not greedy’ The major U.S. equities benchmarks rose Monday, with the Nasdaq Composite continuing to lead the way on the back of technology stocks. Wall Street’s gains Monday come amid market hopes the Federal Reserve will skip an interest-rate hike at its two-day policy meeting that gets underway Tuesday. With the market remaining in overbought territory, according to the S & P 500 Short Range Oscillator , Jim Cramer stressed Monday that investors should look for opportunities to lock in profits. We did just that, trimming a small portion of our Palo Alto Networks (PANW) position earlier Monday. “We are not negative. But we are not greedy,” Jim said. 2. Take Nvidia profits Jim recently designated chipmaker Nvidia (NVDA), whose hardware and software is essential to generative artificial intelligence (AI), as a Club stock to “own, not trade.” Apple (AAPL) is the other stock in this camp. However, Jim said Monday that investors shouldn’t let that mantra stop them from taking profits in Nvidia, if they’re sitting on big gains and want to be disciplined. “You haven’t really made anything until you’ve taken some off the table,” Jim said. 3. Watch AMD Shares of Club holding Advanced Micro Devices (AMD) climbed Monday, on pace for their fifth day of gains in the past six trading sessions. Over the past month, the semiconductor firm’s stock has soared about 33%. “I don’t like this,” Jim said Monday, suggesting AMD shares were running too hot into the company’s AI event on Tuesday . He has said he wants to see more concrete information on how AMD stands to gain financially from AI adoption, given Nvidia’s market-leading position. AMD “better have something up their sleeve that’s more than what we hear right now,” Jim said Monday. (Jim Cramer’s Charitable Trust is long PANW, NVDA, AAPL, AMD. 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.
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