Taking More Profits
As this stock continues to trade higher, I'm taking more profits and building cash.
Hewlett-Packard (HPQ) remains up around $48.49 this morning despite the continued broad market selloff, and I'm going to sell another 600 shares after you receive this Alert.
It's difficult to sell a stock trading at the market multiple that has double-digit earnings growth and a lot of international exposure, but the fact is that you can't afford to be greedy with your profits in this environment.
Coupled with my earlier sales today, this trade will take my cash position back above $500,000.
Regards,
Jim Cramer
DISCLOSURE: At the time of publication, Cramer was long Hewlett-Packard.
Send email to james.cramer@thestreet.com.