3 Stocks I Saw on TV (TSLA AMZN AAPL) (June 11, 2016)
TE AU AAPL
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 pushing the buy button, the next morning, to buy the stocks you saw on TV last night. I’m here to help you make money on THESE 3 stocks I saw on TV, even if it means not buying them.
Okay, Tesla ( NASDAQ:TSLA ). The other day they reported that they were going to be selling a new and not improved Model S. A cheaper version of Model S. The stock fell a little bit and then on Friday a big move down on news that there was some kind of issue with their suspension. I don’t know the exact details, and frankly, neither did anybody seem to on CNBC, they didn’t really know exactly what it was about. But there was an issue in respect to them requiring car owners, with suspension issues, to sign non-disclosure agreements. Okay, when you hear that, that’s not good for a car company. Even if it’s maybe, “Well we don’t know exactly how widespread it was,” kind of thing. So anyway, the stock fell more.
So what do you do with this? I’ve said this before in various venues at Stock Market Mentor anyway, and I think Option Market Mentor too, this chart is just a mess. If you just look at where this has been over the last year or more, it’s just been all over the place. And so right now there’s nothing going on with this stock that I would want ANYTHING to do with. If you’re saying, “I cant’ believe you said that Dan.” Well then you’re a Tesla ( NASDAQ:TSLA ) fan. That’s fine. I’m just saying from a technical standpoint, there’s nothing going on here that makes this a compelling buy. And if you think, “Well, why don’t you sell it?” Hey, I can’t do that either because it’s Tesla ( NASDAQ:TSLA ). Look, the guy who runs it is talking about going to Mars. Really? Have you seen The Martian? It doesn’t look fun. So there’s really noting going on here, in my mind anyway. Actually, maybe there’s not anything going on IN my mind. Or maybe I’m going to Carolina with Jim Taylor.
Amazon ( NASDAQ:AMZN ). They announced Friday, after the market closed, that they’re going to have their own streaming service. So lets see what happened with the price of the stock, not a whole lot. I think after the kind of week that we’ve had traders were already hitting the bars doing the martinis. There’s really no real movement. I don’t anticipate, suddenly, the news coming across the desks on Monday morning and there being a big splash on this either. I think this stock ultimately goes higher and that’s just simply because that’s the way the trend has been. But I don’t see a compelling reason to buy it. If the stock happens to fall down below 700.00, hopefully to 680.00, 670.00, something like that. It would be hard to buy it, because you’ve got to look at it and say, “Wait a minute, there’s something wrong with the stock.” But that’s WHEN you want to buy it. If this stock happens to pullback then you want to buy it. On the other hand, this is the other side of the coin, if the stock starts trading at all-time highs again, you need to be onboard because it’s probably not going to look back.
Then finally, Apple ( NASDAQ:AAPL ). They’ve got their Developers Conference starting on Monday. I guess the big deal is one of the things they’re going to do is unveil how they’re going to make Siri smarter. So I was thinking if I could get the skinny on this. So I’m asking Siri, “Hey Siri, are you going to get any smarter?” Siri: “I can’t answer that.” So you see we’ve got a ways to go on this. The other deal is, Apple ( NASDAQ:AAPL ), 9 to 5 Mac, they’re going to have a car, and a power company, and all that jazz. I’m looking at this, and I’ll still say the same thing, I’m not betting against Apple ( NASDAQ:AAPL ), I have absolutely no position, but I’ve got a bunch of devices.
The stock is in jail, underneath $100.00. And even if it starts moving higher, frankly I don’t think it’s going to do it because they’re making Siri smarter. The stock still has a pretty low ceiling on it. It’s fine to hear people say, and I’ve actually said this before, just before I sold it, Apple ( NASDAQ:AAPL ) isn’t a stock to trade, it’s a stock to just own. And that my very well be good, but when the stock is moving DOWN like it is, it’s not a stock to own. It may not be a stock to trade, but it’s not a stock to own. I want to see this type of price action. I JUST want to see it start doing this, and THAT’S when I’ll buy. I’d rather buy it at 110.00 than 91.00. Just because it will show me that the stock is moving higher. That’s just me wanting to be in stuff that’s moving higher, and it’s really no deeper than that.
3 Stocks I Saw on TV Free Chart