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. Advice for new Club members Buying DVN Stay disciplined with WYNN 1. Advice for new Club members Stocks fell on Monday on reports of protests against Covid restrictions in China . Jim Cramer gave advice to Club members who might be eager to buy stocks while they’re down and unfamiliar with the Club’s basic trading guidelines. His guidance: Don’t buy on spikes Don’t be emotional Be considered Don’t do everything at once Don’t be greedy 2. Buying DVN We are buying 100 shares of Devon Energy (DVN) on a dip. West Texas Intermediate crude, the U.S. oil benchmark, was down 0.66% to 75.78 a barrel on Monday, driven lower by stock prices that fell on China reports. We like Devon’s generous 8% dividend yield and believe that it’s at the right level to bolster our position in the stock. 3. Stay disciplined with WYNN JPMorgan Chase upgraded Wynn Resorts (WYNN) to overweight on Monday, citing optimism about upside next year in Macau, where the company was awarded 10-year concessions by the government, along with other operators. Shares of WYNN rose 3.84% to $77.81 on Monday. While we have been bullish about China’s eventual reopening, we advise investors to be disciplined when it comes to WYNN, which the Club holds a small position in. (Jim Cramer’s Charitable Trust is long DVN, WYNN. 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.
Source:CNBC
