Every weekday the CNBC Investing Club with Jim Cramer hosts a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Hold off on buying Beware Salesforce downgrade Watch for potential Alphabet pop 1. Hold off on buying Stocks rose on Monday to continue a positive start to the year, spurred by economic data suggesting the Federal Reserve has made headway in the fight against inflation. The Nasdaq Composite, which has suffered the most in 2022, closed higher for four straight days. The market is in overbought territory, according to the reliable S&P 500 Short Range Oscillator. This means pause in the purchase for us. We took advantag e of the new market results earlier this week with Estee Lauder (EL) – and then again with Microsoft (MSFT) and Nvidia (NVDA). We booked profit in all three. 2. Beware of Salesforce downgrade Bernstein Wednesday downgraded Salesforce (CRM) for the underperform performance of the market (selling from holding), citing slow growth and worries about the company’s margins. Analysts contend that the deceleration in Salesforce’s growth has been masked by acquisitions and that the company’s cost-cutting measures – which include layoffs – will affect efficiency and growth. But we don’t agree with that thesis because single CEO Marc Benioff reportedly told employees about half of Salesforce’s account executives are bringing in more than 95% of deals, with a lack of productivity due to many new hires. 3. Watch for potential Alphabet pop When tech has gained this week on the back of upbeat economic data, there is one stock in particular that we expect to rise even more. Jim Cramer said sources told him that Alphabet ( GOOGL ) is preparing to implement a hiring freeze, and then cut the number of employees. Jim said that if Alphabet makes such a move, the stock could pop. The company said last year that it only plans to slow hiring in 2023. (Jim Cramer’s Charitable Trust long EL, MSFT, NVDA, CRM, GOOGL. See here for a complete list of stocks.) As a subscriber of the CNBC Investing Club with Jim Cramer, you will receive alerts trade before Jim made the trade. Jim waits 45 minutes after sending a trading signal before buying or selling shares in his charitable trust portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing a trade alert before executing a trade. THE ABOVE INVESTMENT CLUB INFORMATION IS SUBJECT TO THE TERMS AND CONDITIONS AND PRIVACY POLICY, ALONG WITH THE DISCLAIMER. No fiduciary obligation or duty is, or is created, pursuant to the receipt of any information provided in connection with the investment club. No special results or profits are guaranteed.