Investing Club: Another day another pop in this steelmaker — so we're taking some more profits

Published Wed, Mar 2 20221:09 PM ESTUpdated Wed, Mar 2 20221:17 PM EST

We are making another trade Wednesday for the Charitable Trust, but this time it is a sale. We're selling 50 shares of Nucor (NUE) at roughly $138.56. Following the trade, we'll own 350 shares of NUE, decreasing its weighting to 1.24% from 1.41% in the Trust portfolio. Shares of Nucor were climbing higher Wednesday, making another new 52-week high despite no real change in company news since we took trimmed 50 shares from our position Tuesday. We realized a per-share selling price of $129.35 on Tuesday's sale; remember we place our trades 45 minutes after you're notified. With the stock price up nearly $10 since then, we believe the disciplined thing to do is to continue locking in gains on what has been a fantastic run higher in a rough market. Shares of Nucor have rallied about 21% this year compared to an 8% decline in the S & P 500 in 2022. We understand how some members in the Club might find it tiresome that we are incrementally selling a little bit of Nucor yet again, but this stock has been a huge outperformer for us this year, and we want to convert those unrealized gains into real profits. Know this, by incrementally selling on an incredible rise, we'll never look back and say how did we get so greedy when shares were climbing to new highs on nothing really. With Wednesday's Nucor sale, we'll realize a phenomenal gain of about 41% on shares purchased in June 2021. (Jim Cramer's Charitable Trust is long NUE. 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.

Rolls of steel weighing in at 20 tons or more await shipment at the Nucor Steel Gallatin plant, Wednesday, July 25, 2018, in Ghent, Ky.

Timothy D. Easley | AP

We are making another trade Wednesday for the Charitable Trust, but this time it is a sale.