After this week's big market rally, here's a rapid-fire update on all 32 stocks in our portfolio

Published Fri, Nov 11 20221:12 PM ESTUpdated Fri, Nov 11 20221:14 PM EST

Following a historic rally in the stock market Thursday, the best single-session gain in more than two years, we wanted to provide members a quick rapid-fire update on our current thoughts about all 32 stocks held in Jim Cramer's Charitable Trust , which we use as our Club portfolio. Apple (AAPL): Own it don't trade it; even though we think it is too high because of the supply chain problems in China. Advanced Micro Devices (AMD): We've trimmed a lot of AMD but have no plans to trim further because we are gaining confidence that the PC inventory glut is almost done. Amazon (AMZN): Wall Street is looking for mega cap tech to reign in costs, so if the reports about cost cutting here are correct, it could make a big move higher. Bausch Health Companies (BHC): The balance sheet is improving but shares of Bausch + Lomb (BLCO), which went public in May, isn't doing well. Bausch Health owns roughly 90% of BLCO. We would not buy it until more information is known about its patent defense and spinoff plans. Costco (COST): We like it because it is the place people shop during times of economic stress and the wholesaler is rolling back prices. Salesforce (CRM): We downgraded the stock to a 2 rating Thursday due to concerns about foreign exchange (FX) fluctuations and elongated sales cycles. Cisco Systems (CSCO): It reports next week and we think it should deliver a decent quarter as it converts its backlog into revenue. Coterra Energy (CTRA): It has huge dividend yield with great natural gas and Permian properties. Danaher (DHR): Any time you can buy DHR under $280 per share (it was last above that on Oct. 5), we think it is a great opportunity. They are doing amazing things all over the globe and they are separating their slowest growing division. Disney (DIS): It was a disaster quarter but the franchise will survive. They must figure out a way to make the Direct-to-Consumer (DTC) operating losses more inline with the current reality of the economy. DTC includes streaming Devon Energy (DVN): We want to stay long and if it fell to $65 per share we would buy more. DVN was above $70 on Friday. Estee Lauder (EL): This beauty giant is one of the best ways to play a reopened China, which is why we recommend getting long ahead of when it actually happens. Ford (F): New car pricing still strong due to the consumer price index, which was cooler in October but still showed persistent inflation. If they can produce and deliver more cars they will do better. Alphabet (GOOGL): We think management will get religion with layoffs and cost cutting — and if it happens, it would get the same type of positive stock reaction that Meta Platforms just had. Halliburton (HAL): It's had a huge move but we still think it goes higher because the area has been underinvested for the seven years. Honeywell (HON): the stock can still go higher through the strength of aerospace and energy investment. Humana (HUM): Down hard Friday on sector rotation. If it gets back to its highs, we'll look to trim as we missed the opportunity before. Johnson & Johnson (JNJ): It's one of our favorite stocks for its breakup, and we think periods of it being out of favor (like Friday) are opportunities. Eli Lilly (LLY): Down Friday on sector rotation like all of health care, but it can go higher on the strength of Mounjaro — the company's new type 2 diabetes drug, which is also expected to be approved soon to fight obesity. Linde (LIN): We think it should be able to return to its old highs because it consistently delivers 10% earnings-per-share (EPS) growth. Meta Platforms (META): We think it's undervalued — if , and only if — management follows through with what they are talking about in terms of aligning expenses with revenue growth. Morgan Stanley (MS): We trimmed our position Friday and downgraded it to a 2 rating. Microsoft (MSFT): We downgraded it Thursday to a 2 rating. Nvidia (NVDA): It reports next week. We've rightsized our position knowing how volatile it is, but can see the case that bad news is in the stock. Procter & Gamble (PG): Ideal here for its defensiveness, and we see 2023 as a year where headwinds — freight costs, strong dollar — turn into tailwinds. Pioneer Natural Resources (PXD): It's incredibly well run with a big annual dividend yield. We expect oil to go higher as the Strategic Petroleum Reserve is no longer drained. Qualcomm (QCOM): We think we lightened up on all the Qualcomm (QCOM) we needed to. Starbucks (SBUX): It just had a huge move, and we still think it can make it back to the low $100s if China really opens up. The stock traded around $97 per share Friday. Constellation Brands (STZ): We added to our position Friday. TJX Companies (TJX): Another one with a massive move lately but it reports next week and has a tendency to trade down on earnings. Wells Fargo (WFC): We are tempted to take some off now that shares are back to flat on the year. Wynn Resorts (WYNN): It's a tremendous play on the reopening of China and Macao, which is what we eventually expect to happen and is why we have held on. (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 . 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