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Rejiggering My Portfolio

Today is shaping up to be a day of taking profits and picking at slumping stocks.
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I will take advantage of the strength in Schering-Plough (SGP) and sell 1,600 shares after this Alert reaches all of you. I will hold 4.5% in the fund after my sale, and think this is the right size for my fund. I like the story in the long term -- I believe Vytorin and Zetia sales have bottomed, cost-cutting has upside and the pipeline is decent.

I will buy another 100 shares of Devon (DVN) to continue to build this position in the fund. It will now be 3.32% of the fund, and I am happy with that size as well.

Regards,

Jim Cramer

DISCLOSURE: At the time of publication, Cramer was long SGP and DVN.

Send email to james.cramer@thestreet.com.