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 : Staples (SPLS), Edwards Life Sciences (EW),and Home Depot (HD).
On Wednesday's "Fast Money," the hosts discussed Staples after the company announced strong earnings. The stock has turned around after dropping sharply last week. However, Fitzpatrick recommends to hold off on buying. He said the stock is selling near resistance, as people try to get their money back on the stock. He recommended waiting for the stock to either pull below $14, or to break out above yesterday's intraday high of $15.47.
Jim Cramer featured Edwards Life Sciences on "Mad Money." Fitzpatrick says the stock has been trading in a tight volatility squeeze before breaking out to the bottom of the trading range. He said the resistance level is about $80, with a well-defined low near $59. Currently the stock is trading right in the middle.
The last stock Fitzpatrick looks at is Home Depot. Fitzpatrick says he wouldn't buy the stock right now, despite a positive earnings report. The stock dropped last week before jumping after earnings. Fitzpatrick recommends waiting for weakness in the stock before buying it.
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