This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Fitzpatrick: Stay Long Apple, Sell Some Gold

SAN DIEGO ( TheStreet) -- Each morning, RealMoney's Dan Fitzpatrick talks about three stocks featured on CNBC's "Fast Money" and "Mad Money," offering his thoughts on how investors can use those ideas to grow their money.

Today's stocks include:

Gold has been in a long-term uptrend and Fitzpatrick said that he sees this trend continuing. But in the short term, he thinks gold, which is trading well above the 50-day moving average, is overbought. After hitting record highs this month, it has started to pull back. And for short term investors, he said now is a good time to take some profits -- wait for a pullback to buy more gold.

The next stock he looked at was Apple, which has also been in a steady uptrend. Fitzpatrick says the 200-day moving average defines support. Last week, the stock moved back to the 50-day moving average before turning around -- this is a stock to be long on and to buy on any pull back, says Fitzpatrick.

The last stock Fitzpatrick looked at was Verizon, which has been dealing with a worker strike, pressuring the stock. Verizon has a 5.6% yield which will increase as the stock falls. Support is at $32.28 and the stock is currently trading around $34 -- Fitzpatrick recommends keeping a stop just below support.

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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
GLD $115.38 0.58%
AAPL $126.91 -0.54%
VZ $49.17 -0.43%
FB $83.62 0.64%
GOOG $533.97 -0.26%

Markets

DOW 17,949.59 -85.34 -0.47%
S&P 500 2,097.29 -3.11 -0.15%
NASDAQ 5,014.1020 +19.50 0.39%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs