3 Stocks I Saw on TV: GPRO, CMG, GLD
Here’s our 3 Stocks I Saw on TV video; and here’s 3 I DID see on TV: First of all GoPro ( NASDAQ:GPRO ), or as I call it NoGo. They came out after hours, dropped their guidance, and basically said the wheels have come off the wagon. We don’t have a drone or anything to look at it, and so we basically just suck. The stock is opening up tomorrow, probably very, very far down. Here’s the deal: First of all I’ll just say this, don’t listen to the people on TV too much. At least if you do, realize that a lot of them, if they’re on TV that much, really don’t have anything better to do, like trade, so they don’t know as much as you think they do. Here’s the point in that, and of course there are OBVIOUS exceptions to that rule. Hey! Watch me. But here’s the deal, I’ve said FOREVER that GoPro ( NASDAQ:GPRO ) is not a media company. They’re a camera company, like Nikon or Cannon. It’s a commodity, that’s it. You could do the same thing with an iPhone, a selfie stick, and a piece of Velcro.
The point is, this is not a media company, it’s a camera company, and they’re coming out with horrible guidance. Right now as I do this video the stock has halted. Folks have been saying all the way down, “Hey! Maybe this is an acquisition candidate.” Maybe so, and the closer it gets to zero, the more of a candidate it’s going to be.My suggestion is this: you can buy this stock tomorrow morning, seriously. But under this condition: whatever the opening print is only buy it ABOVE that, NOT below it, because this stock could go to 2.00, or it could come back to 14.00. We could just get a big, massive puke fest tomorrow morning, where all the folks who were saying, “Oh, this is a media company. Wow! Most of the videos on YouTube are made with HERO cameras.” Okay, that’s great! Good for you. All those folks that are making the videos, they already have one of those cameras; use your head.
So the point is, you could see the stock open up huge tomorrow, down. Only be buying this stock if the stock is ABOVE the opening print. The reason is actually really simple; because if the stock is above the opening print, then you know that the aggressiveness of demand is HIGHER than the aggressiveness of supply or the selling. Or put another way, the sellers have kind of shot their ammunition, they’ve puked it all up and now buyers are coming in saying okay I’ll take advantage of it. So that’s a trade for you on GoPro ( NASDAQ:GPRO ). You could say, “Hey man, could I buy the stock if it doesn’t go above the opening print?” Sure if you want to, but that’s just not my suggested trade.
Okay, Chipotle ( NYSE:CMG ). The news comes out today that the company thinks that the CDC is going to find that the E.coli deal has kind of gone away, so the stock’s up about 6 percent. Here’s the thing, I’m for that. You know the stock’s not going to zero, I just had a burrito bowl last weekend, I didn’t get E.coli, so I’m good out here in Orange County. The point is, as long as the stock stays above 400.00, I think you’re good to go on this thing. I do. This thing has had it’s market cap cut by, I want to say, by 25 percent; yes, a long time ago, right now it’s down 43 percent. It’s about time for this stock to start going up.
Finally, Gold ( NYSEARCA:GLD ). It’s been in a downtrend for it feels like forever. But the stock came out of a volatility squeeze, pulled back, and now with the wheels coming off the wagon, in the market, China devaluing their currency. No, they’re not currency manipulators, not at all. They’re our friend. With them devaluing the currency (I don’t know who that was that just said that), we could see gold catching a bid to move higher here. So would say if you’re interested in buying gold, or just trading it, I would say the trade is to the long side and you keep a stop right back here, a pretty tight stop. You keep it just towards the top part of congestion, right in the high, 102.00’s, so you’re not really risking too much on this trade, to take advantage of, like I said, a devaluation of the currency and imploding market and a, “Where the heck do I put my money trade?” So that’s it for these 3 Stock I Saw on TV. You guys hang tough, the market’s closer to a bottom than a top. We just don’t exactly know when that’s going to be. Probably tomorrow.
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