We’re selling 25 shares of Eaton at roughly $380. Following Friday’s trade, Jim Cramer’s Charitable Trust will own 270 shares of ETN, decreasing its weighting to 2.7% from about 2.9%. We are booking profits in our position in the electrical equipment maker. With this move back to about $380 per share, Eaton stock has almost fully rebounded from its more than 7% decline on Aug. 5 after the company’s third-quarter guide was below the consensus estimate. The post-earnings selloff was undeserved due to the momentum in the company’s Electrical Americas business and the capacity it is adding to keep up with demand. At the time, that led us to upgrade our rating to a buy-equivalent 1. Now that the stock has recovered, we’re downgrading it back to our 2 rating , meaning we would wait for a pullback before considering adding more shares. We’re still big believers in the AI infrastructure trade, and there’s more room to run in the theme as trillions of dollars are invested through the end of the decade to support the global buildout. ETN YTD mountain Eaton YTD However, we’re also watching the S & P Short Range Oscillator , which we use to gauge when the market is technically overbought or oversold. The market is starting to get close to overbought. The Oscillator increased to 2.41% after Thursday’s session, and we suspect that Friday’s rally on the cooler-than-expected October consumer price index will push the Oscillator even higher. When the reading is over 4%, the market is technically overbought. (Minus 4% and lower signals oversold.) Overbought doesn’t always equal sell, but serves as a reminder to take some profits after a solid run. Since July 15, the Oscillator has not flashed either overbought or oversold, the longest stretch in this more normal territory in at least 20 years. From this sale, we will realize a gain of about 68% on Eaton stock purchased in November 2023. (Jim Cramer’s Charitable Trust is long ETN. 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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