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:

• SPDR Gold Trust ETF (GLD),
• Apple (APPL), and
• Verizon (VZ).

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.