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Once you get this email, 50 shares will be purchased by us Boeing (BA)The price is approximately $193.16 The Charitable Trust will now own 550 Boeing shares following the transaction. BA will now have a portfolio weight of 2.56%, up from 2.3%. 

We are currently scanning the market, looking for stocks to buy — not sell — into today’s broader weakness.

On Wednesday, we mentioned that we had Boeing on our watchlistWe decided to not add to our position because of our inability to respect our low average costs basis.

We made a modest purchase after further reflection. This is because there was a significant decline in stock value this morning, as well as the fact that the stock has been underperforming year-to-date, which reduced this position’s importance in our portfolio.

Boeing is a favorite stock because it has virtually erased all gains made in March due to China’s issuance 737 MAX of an airworthiness instruction. You may recall that this milestone was crucial in ensuring the return of the aircraft to service in China’s second-largest aviation market.

However, BA shares are still below the wider market despite the removal of an important overhang. As analysts at Morgan Stanley pointed out this morning in a research note, Boeing’s stock is only up 1.4% since the announcement compared with a 3.8% gain in the S&P 500. We find this unacceptable considering the importance of the announcement.

Due to numerous management mistakes, we are keeping the buy low. However, we think 2022 will prove to be an even stronger year for Boeing, as more deliveries occur, cash flows inflect, and international travel rebound.

We would also take advantage of oil’s weakness to increase our share in the market. Chevron (CVX)We could trade the oil if it wasn’t prohibited. The downside uncertainty and oil market reaction may have been too extreme. We believe that Chevron’s large fat dividend makes it even more appealing. Chevron is able to cover the dividend at $60 per barrel. The current yield of 4.65% for the dividend. Chevron estimates that they could generate $25 billion in excess cash even at $60 per barrel. This excess is what they have left after paying the dividend and funding their capital expenditure program.

Chevron’s ability generate cash flow above its target price suggests that they can increase their share repurchase activities. Management stated that they will buy back stock worth $3 billion-$5 billion annually just weeks before, surpassing their original target of $2 billion-3 billion. 

As a reminder, we are restricted from trading any stock that Jim mentions on TV for three full days following the mention. Although we cannot make the trade for the Charitable Trust, our restrictions will never prevent us from telling the Investing Club what we would buy or sell and when we would do it.

My Charitable Trust now has an official home at the CNBC Investing Club. You can view every portfolio move and receive my market insights before everyone else. Action Alerts Plus has ceased to be affiliated with my writings and the Charitable Trust.

Subscribers to CNBC Investing Club will get a trade alert prior to Jim making a trade. Jim typically waits for a trade signal to be sent before buying or selling stock from his portfolio of charitable trust stocks. Jim will wait five minutes until the market opens to execute a trade if the trade alert has been sent before the trade is executed. Jim will execute the trade five minutes before the closing of trading if Jim receives the trade warning with less than 45 mins remaining in the day. Jim may not execute a trade if he has spoken about the stock on CNBC TV for less than 45 minutes. See here for the investing disclaimer.

 (Jim Cramer’s Charitable Trust has a long BA, CVX.