We purchase 50 shares of Corning stock at approximately $78 per share. After Thursday’s trading, the Jim Cramer Charitable Trust will own 650 shares of GLW stock, increasing its weight from 1.3% to 1.4%. We’re buying a little bit ahead of Thursday’s market decline. It wasn’t always a tough day. The stock got off to a strong start after Nvidia’s much better-than-expected quarter and outlook. All 11 sectors were positive at the beginning of the session. However, the stock price fell as the day went on due to the company’s decline related to data center spending. Ultimately, the S&P Short Range Oscillator says the market may be oversold. The Oscillator Index closed at -2.77% on Wednesday, more than half the threshold required to officially indicate oversold status. We think Thursday’s reversal may have been strong enough to get there. A value below -4% means the market is oversold for the first time since April 16th. GLW YTD Mountain Corning YTD Oversold does not mean buy, it means the bottom is here. You’re protecting your cash in case the selloff continues over the coming days and weeks. But our discipline is to always look for high-quality companies to acquire when the market is oversold, so we’re nibbling on the stock of fiber-optic cable leader Corning, firmly capitalizing on this weakness. (Jim Cramer’s Charitable Trust is long GLW. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in his charitable trust’s portfolio. If Jim talks about a stock on CNBC TV, he will issue a trade alert and then wait 72 hours before executing the trade. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
