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3 Stocks I Saw on TV, August 22

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 : Edward Life Sciences (EW - Get Report), Gold ETF (GLD),and Apple (AAPL - Get Report).

The first stock Fitzpatrick examines is Edward Life Science, one of Jim Cramer's picks from last week. The stock broke out to the downside this month. However, Fitzpatrick thinks it may have hit its low. He recommends taking a small position now and waiting to see whether the stock retests the low, or breaks out to the upside. He said if the stock retests the low, to buy on the bounce. But he thinks there is still time to get into Edward Life Sciences.

Fitzpatrick also looks at gold. He's been bullish on gold for a long time and owns some of it himself. Still, he said it's really tough to buy gold right now. He said gold is way extended above the 200-day moving average and is waiting for a correction. Fitzpatrick said for those who are long gold, he would set a trailing stop, as it moves higher.

The last stock featured in the video is Apple. Fitzpatrick says the 50-day moving average could be the bottom or it could head down to the 200-day moving average. He said this could be an opportunity to buy. He said to take a little stock now and whether it falls to the 200-day average, or if it rallies to the upside, Fitzpatrick recommends buying it in increments.

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

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.

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SYM TRADE IT LAST %CHG
SLV $15.26 -0.16%
GLD $114.95 0.20%
AAPL $126.80 -0.63%
EW $140.88 -0.28%
GOOG $535.90 0.10%

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DOW 17,987.72 -47.21 -0.26%
S&P 500 2,101.20 +0.80 0.04%
NASDAQ 5,016.7830 +22.1810 0.44%

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