NEW YORK (TheStreet) -- Jim Cramer, the co-portfolio manager of Action Alerts PLUS, bought Starwood Hotels (HOT) and then bought more, and added to AAP's position in EOG Resources (EOG) this week. 

Cramer said Starwood acting CEO Adam Aron recognizes there's a lot of value in the company, which recently sold off its time-share business. Cramer said Aron could go the Marriott  (MAR) way to a spinoff, he could put the company up for sale or he could start growing the inventory.

"There are so many ways for Starwood to win that I thought we had to get in right now," Cramer said. "I wanted a lot of stock at this level so we could double down if the stock ever breaks away."

Too much love is the reason the portfolio sold off Lululemon (LULU). Cramer said the company "is starting to do better but the problem is that it got loved again." The time to get in on the stock is when people don't like them. "And you want to get out of the stock when people love them."

Cramer said Lululemon really needs to show that it can take on Nike (NKE) and UnderArmour (UA) in a big way. And Lululemon has not been able to execute well, that's the problem.

Twenty-First Century Fox (FOXdid not report earnings as big as its rivals CBS (CBS) and Walt Disney (DIS). "We felt we were in too big on the stock," Cramer said. "We've sold what we have to sell and can hold it until it goes higher.

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