THREE STOCKS I SAW ON TV: Apple (AAPL), WAL-MART (WMT), MACY’S (M) (January 07, 2016)
Every day you’ll see on CNBC, Yahoo, or whatever it is, stocks that they’re are talking about. So I’m doing a video, it’s called Three Stocks I Saw On TV. So guess which stocks I’m covering? Hey, the three stocks I saw on TV. First of all, the S&P 500; guys, this is imploding. We’ve gone down how much? In 6 days we’ve been down 5 out of the 6 days, and these are long bars. An Irishman loves long bars, particularly when there’s a lot of them in a row, but investors don’t. So we’ve got three stocks that we’re looking at now, but I want you to keep something, generally speaking, in mind; we’ve already gone down quite a bit. I think we’re going to go further. BUT, market’s just don’t go down all the time without snapping back.
So I will just say, as a general premise as were looking at these three stocks, that you need to understand that, on a short-term basis, the market’s oversold. But if we zoom out a little bit, and we’ll look at the weekly chart, this is really ugly. We’re probably going to go lower over the long-term, really, say over the next month or two. With that said, lets look at a few different stocks. First: a lot of people are talking about Macy’s ( NYSE:M ). Macy’s ( NYSE:M ) hit a bottom here, it’s been trending down. If you’ve been owning this stock for a while, it feels like it’s been trending down forever. I mean this thing lost half of it’s market value. So now it’s finally up today and everybody’s “yipping” about Macy’s ( NYSE:M ), about how great it is. Well, I don’t think so.
The stock is still in a downtrend, it’s “coming out of a base”. But this here is known as a “tombstone doji”, and there’s a reason for that. The stock moves up to a new high, relative to all the stuff that’s happened before, and then it’s back down here. So we have a reversal. We basically have a rejection of the bulls first thing in the morning, and then a lot of folks are going, “Great! I get to sell Macy’s into strength.” I’m telling you right now, I don’t shop at Macy’s. I wouldn’t buy the stock. You shouldn’t either.
Okay next, Apple ( NASDAQ:AAPL ), it continues to fall from the tree. Look, Tim Cook is not Steve Jobs. I think people give him way too much credit and that is one of the reasons why the stock is trending down. They came out with a stylus. Who does that? Palm had a stylus, they went out of business. Apple ( NASDAQ:AAPL ), down below $100.00 for the first time in a long time. This looks ugly. You get a lot of people talking about how fundamentally, “Oh, it’s such a compelling story,” this and that. Do you know what’s compelling? The stock was at 123.00, now it’s at 98.00, and that was two months ago. What’s compelling about this is you need to stay away from it.
Last, I’ve got to get something for you here, Wal-Mart ( NYSE:WMT ). A nice move up today. This is a Dow component, up 2 percent while the Dow is down 2 percent. We are long Wal-Mart ( NYSE:WMT ); we have some options on those over at Option Market Mentor that are doing quite well. I want you to be too. So these are three stocks they’re talking about on TV: Macy’s ( NYSE:M ), a no. Apple ( NASDAQ:AAPL ), a no. Wal-Mart ( NYSE:WMT ), yes. So those are what I want you to look at today. But be long Wal-Mart ( NYSE:WMT ), and then watch for my next video tomorrow.
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