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Scanning for Opportunities Thursday

You need to let shares settle down first before nibbling and that will require some time.
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Scanning for Opportunities Thursday

After a calm morning for the broader U.S. market, volatility has picked up this afternoon.

The broader markets were holding gains for the majority of today's session, driven by continued signs of a strong U.S. consumer that was evidenced by the better than expected results from Walmart (WMT) and a better than expected July retail sales number (that you can read about here. However, the broader market briefly reversed, and at the time this was written, modest losses have picked up as the yield on the 10-Year Treasury hit its lows of the day, all despite the data points that suggest a healthy U.S. consumer.

Having dome some prep work for multi-day declines through our cash raise Alert from Monday that pushed our cash levels into double-digit territory, and with the market getting very oversold, we are currently scanning the market looking for things to do and discounts to nibble at - nothing large - but are not seeing much for us at the moment based on some of our average cost bases and general trading restriction which so often hold us back. More on our restrictions can be found here.

In the interim, we want to reiterate the stocks mentioned during Wednesday's members-only conference call, and the replay of which can be found at our page here.

For those looking for a quicker read into the stocks discussed on the call, yesterday we sent out an Alert shortly after the call ended and highlighted many of the "buy into volatility" points from the call. That Alert can be found here.

They were Burlington Stores (BURL) , Alphabet GOOGL , Mastercard (MA) , PepsiCo (PEP) , Viacom (VIAB) , which has become so ridiculously cheap despite a value-adding and scale building combination, Citigroup (C) , and then CVS Health (CVS) and Johnson & Johnson (JNJ) if they get hit a little further. Following this morning's Cisco (CSCO) Alert here, we'll add CSCO to that list - but remember, we said you need to let shares settle down first before nibbling and that will require some time.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long BURL, GOOGL, MA, PEP, VIAB, C, CVS, JNJ, CSCO.