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3 Stocks I Saw on TV, August 9

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 : Nordic American Tankers (NAT), EOG Resources (EOG),and Gold ETF (GLD),

On Monday, Jim Cramer talked to the CEO of Nordic American Tankers. Fitzpatrick says the stock was oversold yesterday when it dropped from $18, down to $16 before closing up from the intraday low. He said the tricky part with oversold stocks is determining risk. He said to pick a stop, around yesterday's close and sell if the stock drops anywhere below that level.

Cramer also featured EOG Resources. Fitzpatrick sees resistance at around $95, but in the long term, he said he thinks the stock's outlook is a bit murky - at least until oil stocks start trending higher.

Finally, Fitzpatrick examines Gold ETF. He recommends staying long on gold, despite it reaching all-time highs. It is trading at about 9% above the 50-day moving average. Fitzpatrick said to take a small position now and wait for a pull back towards the 50-day moving average. He does see gold continuing to climb and recommends it as an investment.

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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