Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Both the S & P 500 index and the Nasdaq Composite fell Friday and were on pace for their sixth consecutive negative days. The Dow Jones Industrial was up slightly, but still likely to end the week in the red. No surprise then that the S & P 500 Short Range Oscillator indicates the market is still very much in oversold territory. That doesn’t mean investors should jump and buy stocks indiscriminately. Instead, Jim Cramer said members should be patient and selective and factor in corporate earnings before making the next buy. Meanwhile, Coterra Energy shares rose nearly 2% on Friday. The move higher follows positive Wall Street chatter and fluctuating commodities prices amid conflict overseas. Piper Sandler analysts on Friday raised the stock’s price target to $37 from $35 apiece. And Thursday night’s volatile trading, and subsequent spike in U.S. oil prices, helped boost shares as well. This is exactly why we added to our Coterra position again on Tuesday. The stock serves as a hedge against geopolitical uncertainty in the Middle East because rising U.S. oil prices benefit companies like Coterra — even as the broader market sells off. Morgan Stanley analysts said Friday that although shares of Ford Motor have rallied over the past six months, the stock remains one of the cheapest in the S & P 500 . The Wall Street giant analyzed the index and removed the financials sector to create a universe of 404 stocks. Out of these 404 companies, Ford ranks as the sixth lowest in terms of price to earnings ratio. The analysts said the key to unlocking more upside for Ford is to show significant improvement in the return on incremental invested capital, a common measure of efficiency around a company’s investments. We hope to learn more about these improvements to spending during Ford’s quarterly earnings release next Tuesday. (Jim Cramer’s Charitable Trust is long F, CTRA. See here for a full list of the stocks.) 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.