Jim Cramer debates his next move on a software stock on an 11 day losing streak

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 Tuesday's key moments. 1. The S & P 500 fell on Tuesday, following three straight sessions of gains. SpaceX continued to rally after becoming publicly traded on Friday. Jim Cramer, who endorsed the Elon Musk company in his Sunday column, acknowledged that the stock surpassed the market cap of Amazon (and briefly, that of Microsoft , as well). "This is what has captured the American mind," Jim said. Jeff Marks, director of Club portfolio analysis, mentioned there could be "some selling to fund the extraordinary market capitalization SpaceX is adding." Join us for our June Monthly Meeting on Wednesday at noon ET. Jim and Jeff plan to address SpaceX and the full CNBC Investing Club portfolio. 2. Intel shares dropped nearly 6%, and we took the opportunity to add to the position we started two weeks ago. Jim now favors Intel over another one of our chipmakers, Nvidia , in this current market environment. Jim has become frustrated with Nvidia's inability to hold a rally. The Jensen Huang-led company closed up 3.5% on Monday after announcing a $25 billion bond sale. Jim was disappointed when Nvidia didn't offer an update on its stock repurchase program. Nvidia was nearly 1.5% on Tuesday. "I just don't want to see that," said Jim. 3. …