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TheStreet Open House

3 Stocks I Saw on TV, June 16

Stocks in this article: FTNTWBSNLMT

Each morning, Dan Fitzpatrick at RealMoney.com, talks about three stocks on CNBC's "Fast Money" and "Mad Money" and gives his thoughts on how investors can use those ideas to grow their money. Today's stocks include Fortinet, Websense, and Lockheed Martin.

Wednesday, Jim Cramer talked about Fortinet on "Mad Money." Fortinent has been moving upwards, with the 20-period moving average at about $21.61. Fitzpatrick established a support zone, with the high end at $20.50 and the bottom at $19.50. When the stock reaches Cramer's ideal price of $21.00 Fitzpatrick tells investors to only buy half to one third of what they would normally buy.

Cramer also looked at Websense on Wednesday's show. According to Fitzpatrick, the stock's weekly chart shows a bit of a "cup," a decrease in price followed by an increase. He says the low support line for Websense sits between $23.39 and $22.57. Fitzpatrick warns that any movement below the line is "not a good thing."

Finally, Fitzpatrick examines Lockheed Martin. Cramer talked positively about the stock after a caller asked for his advice on "Mad Money." Fitzpatrick says the mid to high 70 dollar range is a good place to purchase the stock.

At the time of publication, Fitzpatrick was long XXX, though positions may change at any time.

Dan Fitzpatrick is the publisher of StockMarketMentor.com, an advisory newsletter and educational forum dedicated to teaching effective risk management and trading methodologies to aspiring traders and investors. He is a former hedge fund manager and a member of the Market Technicians Association, and he now trades from his home in San Diego, Calif. While Fitzpatrick holds various securities licenses, he does not give recommendations to buy or sell stocks. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. He appreciates your feedback; click here to send him an email.

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