3 Stocks I Saw on TV (SJM JNJ JUNO) (June 14, 2016)
SJM JNJ JUNO
Every night we watch the same shows, Fast Money and Mad Money, and we want to USE those ideas the grow OUR money. Well good trading takes more than just punching the buy button, every morning, to get the stocks you saw on TV last night. I’m here to help you make money on THESE 3 stocks I saw on TV.
I’m going full-on Cramer today. Jim was looking a Smuckers ( NYSE:SJM ). He thinks the stock ultimately goes higher. Dog food, you name it, jam, hey, they’re more than just jam and jelly. He liked the quarter, very profitable. He says the stock is a buy. I’m looking at the stock here, ultimately I agree with him. Can you really say that 144.00 is the top of this stock? But I’m looking at the daily chart and it’s looking like it’s kind of petering out a little bit. Here’s the deal: Seriously, I would RATHER wait and buy the stock at 146.00, than I would buy it now. Because if it trades up at 146.00, that means that it’s hitting all-time highs and there are new buyers AGGRESSIVE buyers that are still coming for the stock. My sense though is that, because of the way this has traded, this was the ultimate high on Friday. And then we got a little bit lower high on Monday. And a little lower higher again today. So I think the stock could pullback a bit. I would wait. I think ultimately you want to get Smuckers ( NYSE:SJM ), not as a trade, but as an investment, but wait for it to come back here. Don’t be jumping on this too soon.
Now, Johnson & Johnson ( NYSE:JNJ ). Cramer is talking about Darzalex. He thinks this could be a blockbuster drug. More news came out about that at a conference, and he likes the stock where it is right now as well. I have a look at this in the same way as Smuckers ( NYSE:SJM ) and say, “Yes, ultimately the stock goes higher.” UNLIKE Smuckers ( NYSE:SJM ), I think you’re okay to buy it here. It could pullback a bit, but frankly the way this stock has been trading, the 50-day moving average is really not even being touched, and the stock isn’t, from a dollar standpoint, that far above it; like $3.00 above where the 50-day moving average is now. So you could start a small position here on Johnson & Johnson ( NYSE:JNJ ). Just hang on to it, it’s not going to get away from you. If the stock pulls back, then take a little bit more.
And finally, Juno ( NASDAQ:JUNO ). Juno that they are in the cancer immunotherapy industry? They got positive results from two early drug candidates and Cramer thinks THIS is a buy. We’re going to look at the 1-minute chart. Not much after market activity, basically none at all, so that doesn’t really help us. Here’s what I’m looking at: The stock had found support here. So far this looks like a higher low. I would ignore this. You don’t want to be holding the stock if it tests 35.00. I would look at $40.00. You buy the stock here at $41.00, put a stop at 39.80, give it a little room, something like that. That’s still a very, very tight stop and you’re only stopped out if you’re wrong that this is the bounce right here, right now. That’s how I would trade Juno Therapeutics ( NASDAQ:JUNO ).
3 Stocks I Saw on TV Free Chart