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. 1. Wall Street was mixed on the first trading day of December. Tech was strong, driving the Nasdaq nearly 1% higher. The S & P 500 and the Dow , which soared in November for their best months in a year, were muted on Monday. Following last week’s strength, the S & P 500 Short Range Oscillator momentum tracker is signaling an overbought market. In overbought markets, we are cautious about adding to our stock exposure — especially now, as December tends to be a seasonably strong month for stocks. 2. During Monday’s Morning Meeting, Jim Cramer said he urges members to be in CrowdStrike shares, which had back-to-back losses Wednesday and Thursday despite the cybersecurity company’s beat and raise quarter Tuesday evening. Jim’s reasons to like the stock: (1) CrowdStrike had a software glitch that caused a global IT outage in July but lost few customers, and (2) CEO George Kurtz, who’s done a fantastic job on defense, gets to go on offense. Kurtz will be “Mad Money” on Monday evening. 3. Black Friday sales, excluding autos, increased 3.4% year over year, according to Mastercard Spending Pulse data. Online sales rose 14.6%, while in-store sales gained just 0.7%. Jewelry, electronics and apparel were top gift sectors. Those were also tops in data from Adobe Analytics, which showed online sales up 10.2% on Black Friday compared to a year ago. Neither survey gave details on what kinds of electronics were popular. But we know from Club name Best Buy that things were looking up in the final weeks of November. The AI personal computers have not been a big hit so far, but Jim thinks they are a work in progress. It’s Cyber Monday and we’ll see how things go in the days ahead to get a better idea of how well the kickoff of the holiday shopping season went. 4. Stocks covered in Monday’s rapid fire at the end of the video were: Intel , Gap , Nucor , Burlington Stores , and Dell . (Jim Cramer’s Charitable Trust is long CRWD, BBY. 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.
Why Jim Cramer says own CrowdStrike and don’t give up on Best Buy