We're paring another stock position to bring our cash weighting closer to 12%

We are selling 100 shares of Cardinal Health at roughly $219. Following the trade, Jim Cramer's Charitable Trust will own 425 shares of CAH, reducing its weighting in the portfolio to 2.45% from 3.00%. We're making another sale on Wednesday to bring our cash position closer to Jim's stated goal of 12%, per today's Morning Meeting, to hedge against volatility around Friday's SpaceX IPO. Until now, our four sales this week have focused on locking in gains from stocks that have outperformed this year and are vulnerable to a pullback. We're taking a different approach to this trim, reducing a position that has struggled since we bought it but has recently found new momentum amid the market's rotation into health care and other defensive sectors. We're not calling Cardinal Health a win. This position is still slightly in the red, and this trim will lock in a loss of about 6% on the shares we bought in March. We'll also downgrade our rating to a 2 from a buy-equivalent 1. But we stuck with Cardinal after the stock sold off following earnings and even added 50 shares when it dropped to about $200. While most investors have been focused on tech, Cardinal Health has quietly gained nearly 10% since the last purchase, outpacing the S & P 500's broader gain of just over 2%. Rotations can end abruptly in this fast-moving market, so we're taking advantage of recent strength to protect ourselves in case the move loses momentum. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) 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.