Jim Cramer debates buying a sinking chipmaker but needs to see an oversold market first

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. Wall Street started the troublesome trading month of September with sharp declines. The S & P 500 , which closed its strong August on the upswing Friday, was down nearly 1.5% on Tuesday — the first day of this holiday-shortened week. The Nasdaq was down more than 2%. Most of the portfolio was in the red.

As measured by the S & P Short Range Oscillator , the market has been overbought since the close on Aug. 19. With last week's restrictions lifted, we trimmed our Eli Lilly position Tuesday, booking a nearly 300% gain. September, known as one of the toughest months for stocks, promises to be eventful. The government's latest employment report is out Friday.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jim Cramer touts Caterpillar's quarter — plus, his thoughts on 4 more stocksCNBC's Jim Cramer highlighted five stocks outside the Investing Club portfolio on Tuesday.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market TuesdayU.S. stock futures rose Tuesday after Monday's sharp market sell-off.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market MondayA global sell-off is underway, with Japan front and center. In the U.S., tech stocks were leading the declines.
Source: CNBC - 🏆 12. / 72 Read more »

Here's Jim Cramer's market sell-off playbookMonday's global market sell-off is an opportunity to buy rather than a reason to sell, Jim Cramer said and shared his six-step gameplan.
Source: CNBC - 🏆 12. / 72 Read more »