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Why Jim Cramer Says It's Time to Trim Your Portfolio

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Jim Cramer thinks that investors should be cautious, especially when it comes to the 

"Well, in some ways because I had been on froth watch and I think that's froth Beyond Meat's (BYND) froth. That's what makes me think that the market can go down on a day like today even, with good employment because it's too frothy. Shake Shack (SHAK) was okay. What can investors do about a frothy market? We have to do what we did for the [Action Alerts Plus] club. You have to take things off. We went over each stock today, I was tempted to take some Citi (C) off, but I felt like [CEO Michael Corbat] did a good job when I interviewed him this week. We looked at, we mentioned, as I said, Amazon (AMZN) ," said Cramer.

When asked to clarify whether or not he wants investors to trim their portfolios, Cramer responded, "We trimmed for Action Alerts Plus and I can't be duplicitous. I think that having a little cash ahead of the Uber deal just in case it doesn't work as a good thing."

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