After you receive this email, we will be buying 100 shares of Marvell Technology (MRVL) at roughly $77.93. Following the trade, the Charitable Trust will own 1,200 shares of Marvell Technology. This buy will increase MRVL’s weight in the portfolio from about 2.11% to about 2.3%.

It’s another heavy day for the Nasdaq and the broader market overall, but we are putting some cash to work by scooping up shares of Marvell Technology. Believe it or not, this will be our first purchase of any technology stock since late November, as our preference has largely been in healthcare and cyclical areas like the oils and industrials.

Even though this buy will violate our incredibly low basis of $22.48 (we have had a position in MRVL since 2019), we believe this purchase is defensible because we are buying back half of the shares we previously sold at a price that is 15% higher than current levels.

As you may recall, on Dec. 7, we sold 200 shares of MRVL at around $92 after the stock rallied roughly 30% over three trading sessions. This was a tough sale to make because of MRVL’s peer leading growth rate and exposure to secular themes in the cloud, 5G, and auto — but our discipline said it was time to book profits after a rally of that magnitude.

We said in our note that “we cannot neglect our discipline of slowly trimming stocks as they make new all-time highs. This is especially true for positions in high multiple tech. This avoidance of greed is what protects us from stretches where one could be caught offsides if tech stocks fall massively out of favor.”

What a difference one month can make, and what a great example of how discipline trumps conviction. Like many names in tech and semis, MRVL has flipped from a market darling to out of favor since the start of the year. But just like how it was time to take profits when the rally went too far too fast, we think MRVL’s decline is getting overdone too. This does not mean the stock is done moving lower in the near term; we’ll leave room to buy back the other half in case the market volatility continues.

If you are trying to figure out where to put some money to work with so many stocks down, we like the setup of buying a high-quality, profitable, secular winner down as it goes out of favor just like MRVL has.

The CNBC Investing Club is now the official home to my Charitable Trust. It’s the place where you can see every move we make for the portfolio and get my market insight before anyone else. The Charitable Trust and my writings are no longer affiliated with Action Alerts Plus in any way.

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. See here for the investing disclaimer.

(Jim Cramer's Charitable Trust is long MRVL.)