Updated from Feb. 4
responded to a batch of questions posed by members of the Stockpickr community.
Here are a few of those questions and Fitzpatrick's answers.
What is a good price to get into Wal-Mart ?
Short term: $46 with a very tight stop.
(In early morning trading, shares of Wal-Mart were recently trading at $47.70, up 2.69% for the day.)
Is Caterpillar a buy, sell or hold? We bought in at $32?
Sell if it drops much farther. You are already down two bucks.
(In early morning trading, shares of Caterpillar were recently trading at $30.59, down 0.29% for the day.)
What metrics do you use to go about determining the proper size of a position?
I'll never have more than 10% of my portfolio in one stock. Usually, it's less than that. And in this market, I can't recall the last time I've built a full position.
What's your take on gold? Any opinion for the short term (two weeks)? I think it's heading for its next resistance of $945 to $950 and then $1,000.Position: Long Barrick Gold .
I still like gold. I don't have the same timeframe as you -- I think the metal is pretty volatile now. Lots of very smart people think gold is at a top...in a bubble. Other smart people think gold will be $2,000 soon.
To read much more of Fitzpatrick's interaction with the Stockpickr community,
Got a question for Fitzpatrick? He'll be back on Stockpickr Answers next week on Tuesday, Feb. 10. To interact,
-- for free.
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