Analysis: TWLO CRM NVS MRK LLY ABT AAPL

The broader markets are still showing signs of a rotation Tuesday, with technology stocks continuing to lag as energy stocks are finding buyers.

Similar to what we were thinking with Twilio  (TWLO) in our Alert here, we think the selling pressure in Salesforce.com (CRM) is finally calming down to the point where we would begin buying slowly at its current price and further into weakness, if we were looking to build a bigger position. That said, we remind you that there is no need to make any large "statement" buys, because the sellers could always regain steam down the road and the market is in overbought territory.

Bottom line: Consider this Alert as a blessing to pick at CRM shares for the same reasons we outlined last week in our Alert here, but now at a discounted price.

Elsewhere, pain in many health care stocks is continuing Tuesday in reaction to a drug pricing plan unveiled by House Speaker Nancy Pelosi. News like this is why we have said before that this group will be volatile into the election cycle, especially considering how drug-pricing reform is one topic that has received bipartisan support.

Still, from what we have seen, the stocks of the most innovative companies can rally as the news cycle quiets down, and we used Tuesday's weakness to scale a little deeper into Novartis (NVS) (see our Alert here), which we like for its catalyst-rich pipeline. We also want to point out that approximately 33% of Novartis' revenues come from the United States, a much lower rate compared to an Eli Lilly (LLY) or a Merck (MRK) that receive approximately 56% and 43% of revenues inside the U.S., respectively. We also want to point out how the health care selloff is also bringing down medical device company Abbott Laboratories (ABT) . We are not ready to upgrade ABT back to a ONE, but we think we are getting close.

On a different topic, we are also currently watching the Apple (AAPL) Special Event which you can find here. TheStreet and RealMoney's tech columnist Eric Jhonsa is live blogging the event, and you can follow along at the site here for all the key takeaways. The event has been largely as expected thus far, but one headline of note is that the Apple TV+ will be $4.99 month and be available Nov. 1.

Action AlertsPLUS, which Cramer co-manages as a charitable trust, is long on TWLO, CRM, NVS, AAPL, and ABT.