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3 Stocks I Saw on TV, July 18

SAN DIEGO ( TheStreet) - 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 : American Power (AEP), IBM (IBM),and Enterprise Products (EPD),

Fitzpatrick highlights American Power, a company Jim Cramer featured last night on "Mad Money." Cramer likes the utility company and had the company's CEO as a guest on the show. The stock had been trading sideways for a while before breaking out towards $39. Fitzpatrick said the stock was near support and recommended buying now while the stock was trading around $37. He anticipated the stock to be slowly moving higher.

Next, Fitzpatrick features IBM, which announced earnings on Monday. Some of the traders on "Fast Money," anticipate that the stock will hit $200. Currently, it is trading around $180. Fitzpatrick agrees that over the next couple of months the stock will head up and recommended buying IBM.

Finally, Fitzpatrick looks at Enterprise Product Partners, which Cramer featured on Monday as a safe bet for this economy. Fitzpatrick agrees the oil pipeline service stock has been in a well-defined trading range and anticipates the stock breaking out eventually. The stock also has a nice dividend and Fitzpatrick said this was another stock to buy.
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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