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Taking Profits on Two Plays

I'm selling an energy position because I prefer others and right-sizing a tech play after a huge move.
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I am going to sell 1,000 shares of ConocoPhillips (COP) at $43.35 and 400 shares of Hewlett-Packard (HPQ) at $36.90 as soon as you receive this Alert.

I moved ConocoPhillips and BP (BP) to Two rankings last, week which was a big move for me after buying them aggressively since February. I am still bullish on oil, but prefer Devon (DVN) because it has better growth prospects and is cheaper. Within the integrated oils, I prefer Chevron (CVX) because it has lagged the group and has the best growth prospects in the group. I will consider buying ConocoPhillips back under $40.

My sale of Hewlett-Packard is to right-size the position after the 48% move off its low.

After my trade, I will own 1,500 shares of ConocoPhillips, or 2.68% of the portfolio; and 3,000 shares of Hewlett-Packard, or 4.56%.

Regards,

Jim Cramer

Click here to trade alongside Cramer!http://www.thestreet.com/staticFull/aap-td-ct-offer_alert.html

DISCLOSURE: At the time of publication, Cramer was long ConocoPhillips, Devon, Chevron, BP and Hewlett-Packard.