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: Cramer says he doesn’t trust the market Starbucks is the newest Club name Energy stock roundup 1. Cramer says he doesn’t trust the market Stocks were back in the green early in Tuesday’s session, then pared those gains, as the market tries to shake off Monday’s steep drop. For the moment, Jim Cramer said he’s viewing any comeback rally with caution. Cramer’s skepticism is rooted in the fact Wall Street seems to interpret in different ways the same type of information depending on the day. Some of the trading action may be influenced by algorithms that make decisions based on headlines, but regardless, Cramer said he thinks the market “lacks credibility” right now. “Last week was all about how oil went up so, therefore, the economy is too strong, so the Fed is going to tighten. This week, oil goes up and it looks like we’re not going to have a recession. You can’t have ‘heads, I win. Tails, you lose,” Cramer said. “My experience has been that, when you have a market that is literally trying to figure out whether something is good or bad — on given days it’s good and on given days it’s bad — do not trust that market,” he added. “I don’t trust a market that finds its footing on the same news that it loses its footing.” 2. Starbucks is the newest Club name On Monday, we added a new stock to Cramer’s Charitable Trust, the portfolio used for the Club: Starbucks (SBUX). We initiated the position by purchasing 275 shares at roughly $84.72 each Monday , giving it a roughly 0.78% weighting in the portfolio based market prices Tuesday morning. It was called up from our Bullpen watch list. We bought SBUX into weakness Monday, but shares were recovering slightly Tuesday. Had the stock been sharply lower again, we might’ve added more shares. “That shipped sailed already,” Cramer said during the “Morning Meeting” on Tuesday. “You can’t buy anything up at all.” It’s worth pointing out: Starbucks has an investor day scheduled for Sept. 13, which could be a major upside catalyst event for the company. 3. Energy stock roundup The best-performing sector in the S & P 500 on Tuesday is by far energy, which is up more than 3%. Cramer provided a brief overview on how the Club is thinking about our oil-and-gas holdings given the strength. Haliburton (HAL ): With shares up more than 7%, Cramer said he thinks investors should be patient with the stock: it’s not time to buy or sell any. “The time to buy Halliburton was yesterday,” Cramer said. However, he added, “I bet that Halliburton is soon going to be like Devon and Chevron, meaning you’re going to want to be on that horse.” Pioneer Natural Resources (PXD): Cramer called Pioneer the “battleground” stock of the oil patch, explaining that he continues to like the company thanks to its monster dividend and management’s desire to have the highest yield in the S & P 500. “I would not let any Pioneer go here,” he said. Chevron (CVX): Cramer noted the Club trimmed its Chevron holdings earlier this month, locking in a 38.5% gain on those shares with the sale. “We don’t need to do anything at all,” he said. Devon Energy (DVN): Devon is another energy stock in the portfolio that we’re saying be patient with. The stock is up nearly 20% since Cramer told members to buy it Aug. 2 . That is why on Tuesday we officially downgraded our rating on Devon to a 2 , meaning we’d be buyers only on a pullback. Coterra Energy (CTRA): The Club sold some of its Coterra shares Monday, a disciplined decision meant to take advantage of energy outperformance compared with the broader market. (Jim Cramer’s Charitable Trust is long SBUX, HAL, PXD, DVN, CVX and CTRA . 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.
