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Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Look to trim in an overbought market Don’t sell Wells Fargo Hold onto Estee Lauder 1. Look to trim in an overbought market Stocks were mostly down Friday, pressured by a decline in financials after several major banks reported fourth-quarter results. The S & P 500 fell 0.42% in midmorning trading. It’s likely that the overbought nature of the market – our trusted S & P 500 Short Range Oscillator is at 9.46% – is contributing to the loses. Despite the Oscillator’s high reading, we have so far held off on making any sales due to the sheer breadth of stocks that have gained in the past week. However, that doesn’t mean we have ruled out selling entirely, and we’re on the lookout for light trimming opportunities. 2. Don’t sell Wells Fargo Shares of Wells Fargo (WFC) were down 0.63% on midmorning trading Friday after the bank reported decreasing profits in its latest quarter, hurt by expenses from a $3.7 billion settlement and an effort to build up its reserves. However, we urge investors not to sell their shares of WFC, given the fundamentals of its business are strong. The company forecasted about $50.2 billion in expenses for 2023, lower than the roughly $51.58 billion analysts predicted. And with the bank appearing to be making headway on its costly regulatory troubles, the expenses that weighed down its balance sheet will likely be a thing of the past sooner rather than later. 3. Hold onto Estee Lauder JPMorgan Chase on Friday raised its price target for Estee Lauder (EL) to $285 from $274, citing potential upside from abating foreign exchange headwinds. We continue to like this stock, especially as China — a crucial market for the cosmetics giant — reopens its economy and welcomes back travelers . We expect EL shares to climb higher, and have no plans to sell more shares right now. (Jim Cramer’s Charitable Trust is long EL, WFC. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.