We're locking in great gains on shares of this stellar off-price retailer and padding our cash

Published Fri, Jul 12 20243:10 PM EDTUpdated Fri, Jul 12 20243:18 PM EDT

We're selling 50 shares of TJX Companies at roughly $115. Following Friday's trade, Jim Cramer's Charitable Trust will own 750 shares of TJX, decreasing its weighting in the portfolio to 2.55% from 2.7%. The market was putting the finishing touches on another strong week, with Friday's broad-based rally bringing the gains in the S & P 500 since the start of July to about 3.5%. Given the strong run of the past two weeks, it's prudent to lock in some gains and raise a little extra cash. We want to be ready to buy if we see more rotational action like we saw on Thursday or find new opportunities during earnings season. We should note that the S & P Oscillator was also in overbought territory following the heavy rotational action this week. Our discipline is to make some small sales whenever the Oscillator signals an overbought market. TJX YTD mountain TJX Companies YTD During our June Monthly Meeting , Jim Cramer and I were asked when we would next take profits in TJX, the off-price retail powerhouse behind T.J. Maxx, Marshalls, and HomeGoods. Our answer was to let shares run a little further because of how well they were doing. The company's quality goods at value prices resonate well with the current consumer. Market share gains are also aplenty because department store chains are closing stores. But as much as we like the long-term story at TJX, discipline matters too. We called out $115 per share as the level where we would look to take profits. It's also our price target. Now that shares have taken out this level, we're making a small TJX sale and downgrading the stock to our 2 rating . From this sale, we'll realize a great gain of about 78% on stock purchased in August 2022. (Jim Cramer's Charitable Trust is long TJX. 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.