3 Stocks I Saw on TV: AMZN, FB, FSLR
AMZN FB FSLR
This is 3 Stock I Saw on TV. There is a lot of stuff going on in the market, but we’re going to look today at Amazon ( NASDAQ:AMZN ), Facebook ( NASDAQ:FB ), and First Solar ( NASDAQ:FSLR ).
Amazon ( NASDAQ:AMZN ): They reported earnings after the bell on Thursday. That didn’t really work out too well for the bulls. The stock really gapped down hard. So do you want to stay away from this stock? I don’t think so, I think it’s a buy. I don’t really care that the company is expensive, it’s been expensive forever. I’m not a real “Amazonian” fan; I think Jeff Bezos looks too much like Lex Luthor, and has to many employee issues to have me want to put him on my Christmas card list (I’m not on his). So the bottom line is, I don’t know about the company itself, I know the chart is wicked good right now. It would have been nice if it had held up here, pulled back a little bit more. But the closer this falls to the 200-day moving average, when a stock is in an uptrend, that is when you want to be buying the stock.
This is about as good as it gets, right here. Because this kind of broke down, maybe this is going to lead to a long period of sideways consolidation, which, by the way, happened in 2014. It started in January or February. Where are we now? Going into February. So maybe this is going to get this kind of pullback here and you could be holding this stock for a year waiting for this stock to start moving higher. That’s fine, that’s your decision if you want to do that or not. I’m just saying this, this is a good opportunity, this is a higher low than it was here. So where this stock is going to be in 2 weeks, 3 weeks, a month, 2 months, 3 months, I’m not going to tell you. I’m just looking at this as a trade for now, and I see this as a good buying opportunity. We’ll let the rest of the stuff sort itself out as it does so.
Facebook ( NASDAQ:FB ): They reported just amazing results. They beat the snot out of the street. About as much as Amazon ( NASDAQ:AMZN ) missed, if you call a third missing. Cramer likes this stock even now. I think it’s a little overbought. Probably not too many people would disagree with me on that. The stock’s up at the top of the channel. I will just say this, if you want to be long Facebook ( NASDAQ:FB ) and you’re not, go ahead and take a little bit now; but your best opportunity is to just be patient. Let this thing settle out. Who knows, it might be up even more on Monday. And why would it be? Because it’s sucked in even more people. But the volume on Friday, even though it was a massive rally on Wall Street, the volume on Friday was still heavier than average, but not like it was on Thursday. So over the next week my bet is, this will kind of settle down a bit and give you a better opportunity.
Okay, First Solar ( NASDAQ:FSLR ): Cramer likes this as THE solar company to own. I can’t disagree with him on this. Over the year this has been really choppy, ugly, this and that. Solar just hasn’t been really where you wanted to be. Now, to be honest with you, I’m kind of lukewarm about this and I’ll you why. Technically, here’s the top, there’s the bottom, about right there. This is kind of right in the middle and it’s getting close to where I would call just the selling zone simply because that’s what has happened in the past. You don’t have to draw too many lines to see where you want to buy, where you want to sell. This is right in the middle, I think you wait and get a better opportunity. But, if you want to be involved in solar this is definitely the company that you want to involved in. Like I said, I think you’ll get a better entry, but if you’re a solar guy, this is your stock.
3 Stocks I Saw on TV Free Chart