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 : Google (GOOG), Netflix (NFLX),and Saks Holdings (SKX).
Google has been volatile this summer and Fitzpatrick says this is a very difficult stock to trade technically right now. Today, he used the 50-day moving average as reference. For the past week, Google has been trading along that average before closing below it, yesterday. He said he wouldn't buy Google right now and for those who own Google to keep a stop below yesterday's intraday low near $530.
"Fast Money" hosts discussed Netflix on Tuesday, saying the company is too expensive. Fitzpatrick said this is an opportunity to get into Netflix, as the company has been trading in a solid uptrend for the past several years. It had been bouncing off of the 20-week moving average before recently dropping below that level. He said as long as Netflix stays above $220, he recommended buying the stock.
Finally, Fitzpatrick looks at Saks Holdings. Jim Cramer talked to the CEO of Saks on Tuesday's "Mad Money". Cramer thinks this stock has been oversold. Fitzpatrick said it could retest the $8 level, which might be a place to take the stock unless it drops below $8. Then he recommended staying out.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV