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3 Stocks I Saw on TV, August 18

SAN DIEGO ( TheStreet) - Dan Fitzpatrick at, 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 - Get Report), Edwards Life Sciences (EW - Get Report),and Home Depot (HD - Get Report).

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.
At the time of publication, Fitzpatrick was long XXX, though positions may change at any time.

Dan Fitzpatrick is the publisher of, 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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OMX $15.26 -0.26%
AMZN $539.80 0.00%
EW $148.22 0.00%
HD $121.33 0.00%
LOW $73.33 0.00%


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