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 : Goldman Sachs (GS), SalesForce (CRM),and Travelzoo (TZOO).
Shares in Goldman Sachs began falling Monday after news that CEO Lloyd Blankfein hired a high-profile lawyer for the company. Fitzpatrick said he does not think this is a stock to buy right now. He expects financial companies to continue to decline, and warned against buying a stock based on tangible book value.
Jim Cramer was looking at SalesForce Monday night on "Mad Money." The stock has fallen below the 200-day moving average. Currently, it is trading above $110 and Fitzpatrick said the next logical support level was down near $100. He said this is not a stock to buy right now.
Finally, Fitzpatrick looks at Travelzoo, another stock that's been heading lower. Over the past couple months, the stock has gone from trading near $100 down to below $34 and Fitzpatrick recommended staying out for a while. He said to wait for Travelzoo's stock to build a base before buying. He said this will take some time and will probably occur below where the stock is trading today.
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