I want to make a couple of more sales before the weekend, as the broader market averages remain in positive territory this afternoon, despite the dismal jobs data this morning.
After you read this note, I'm going to sell 200 shares of St. Jude Medical (STJ) . The stock has broken out to its highest levels since October, recently changing hands around $45.46, which is some 10% above my average cost-basis.
While the company is in position to keep gaining market share in the coming quarters, high-multiple stocks like this can be susceptible in an overbought market.
This sale leaves me with 2,500 shares of St. Jude, or 3.3% of the overall portfolio.
I'm also going to take another 200 of my 2,700 shares of NYSE Euronext (NYX) off the table, here around $68.48. The stock is up about 11% in the past four sessions alone, and the prudent move is to cut my position to a more manageable 5% of the overall portfolio.
We fought long and hard for these gains, and I don't want to risk giving them right back.
Regards,
Jim Cramer
DISCLOSURE: At the time of publication, Cramer was long St. Jude Medical and NYSE Euronext.
Send email to james.cramer@thestreet.com.