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[video] Quick Take: Internet Stocks Keep Winning

NEW YORK (TheStreet) -- 2013 has been an incredible year for many stocks. T3 Live's Scott Redler says some stocks will remain strong.

Redler told TheStreet's Debra Borchardt that the strongest stocks tend to stay that way because portfolio managers do not want to endure the tax requirements for selling them.

Instead, these managers prefer to keep these stocks in their portfolios.

In the case of Google (GOOG), it's hard for investors to feel like they're not chasing the stock after it's epic run higher to more than $1,000. 

Reder said it's not surprising the stock hasn't pulled back when one considers its strong fundamental and technical setups. 

Redler recommended that investors wait for another consolidation in Google before stepping in as buyers. 

Turning to Yahoo! (YHOO), Redler said the stock has exceeded most investors expectations, especially over the past few months. Shares recently topped $40.

Redler said the technical setups for Yahoo! have been good. The stock breaks out, consolidates and eventually breaks out again, he said. He also said the stock appears to have broken out cleanly and that investors should continue to trim their positions as it rallies higher and higher. 

Baidu (BIDU) lagged the broader market until about the middle of this year. In the summer, the stock rocketed out of its lull and has been cruising higher ever since. 

Redler said the stock recently made a multiday breakout and that the move should lead to more new highs on the year. 

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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SYM TRADE IT LAST %CHG
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.37 -1.71%
TSLA $231.55 6.01%
YHOO $44.36 -0.36%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

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