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 : Bank of America (BAC), Guggenheim Solar TAN (XLF),and Energy Transfer Partners (ETP).
The hosts on "Fast Money" were talking about Bank of America last night and they argued banks are too cheap. Though the stock has been in a steep downtrend, over the past couple of months, Fitzpatrick says he thinks Bank of America is trading near support. He said if it continues to trade above $6 for the next couple of days, it could be forming a base.
The next stock Fitzpatrick looks at is Guggenheim Solar ETF, also featured Tuesday night on "Fast Money." Tim Seymour said it's time to get out of the stock, which has dropped from about $8.50 to $5.30 over the past couple of months. Fitzpatrick agrees, saying he doesn't see a lot of upside either, and recommended selling close to the 20-day moving average.
Finally, Fitzpatrick examines Energy Transfer Partners, a pick from Stephen Weiss. The stock has an 8.3% dividend. Fitzpatrick said this is a low risk time to buy the stock, as long as there is a stop right under yesterday's low. But he said it is also a low probability trade, as it is trading under the 50 and 200-day moving averages, which are both trending lower.
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 + 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