3 takeaways from our daily meeting: The rally continues, selling shares and analyst calls on Club stocks

Published Tue, Oct 4 202212:34 PM EDTUpdated Tue, Oct 4 20221:04 PM EDT

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. Rallying stocks Trimming our HUM position Quick mentions: AMZN, DIS, STZ 1. Rallying stocks Stocks continued their move north Tuesday in the wake of Monday's rally, buoyed by a weaker U.S. dollar and declines in bond yields, with the S & P 500 up nearly 3%. At the same time, our trusty S & P 500 Short Range Oscillator showed the market as still being oversold. In this environment, Jim Cramer said Tuesday that the "stark" rebound is allowing the Club to strengthen its cash position. "Discipline demands that we do some selling," he said. 2. We're trimming our HUM position We have no choice but to scan our portfolio and take advantage of a two-day rally by trimming some of our positions, and we're taking off some shares of Humana (HUM). We're selling 20 shares of the health insurance company , at roughly $504.02 each. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 100 shares of Humana, decreasing its weighting to 1.83% from 2.19%. 3. Quick mentions: AMZN, DIS, STZ Here are quick takes on some Club holdings: There were a couple bullish analyst notes on Amazon (AMZN) that are reinforcing our decision to add to our position last week . JP Morgan said the company remains its "best idea," while Jefferies said that its sum of the parts math indicates that investors are getting the retail business for free. JPMorgan cut its price target on Disney (DIS) to $145 per share from $160, citing concerns with its direct-to-consumer profitability and adjustments to operating income in its parks and entertainment segment. Jefferies cut its price target on Constellation Brands (STZ) to $310 per share from $315, but expects a beat and a raise when the company reports its latest earnings results before the opening bell Thursday. We are also looking for an upside surprise from the stock. (Jim Cramer's Charitable Trust is long AMZN, DIS, HUM, STZ. 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.