3 Stocks I Saw on TV (CMG SKX GE) (July 22, 2016)

by DAN CMG SKX GE 
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, in the 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.

Today we’re going to look at Chipotle ( NYSE:CMG ). Last week the company reported earnings. It’s the first time they have been profitable in a while, like since sliding down here. The bottom is in here. Simply put, I don’t think it’s too late to buy. This will oscillate a bit. It will probably come back and even test this 50-day moving average. But look, this is a great franchise, trying to do the right thing with respect to healthy food. I think ultimately the worst is behind it, which means there are better days ahead. I’m a trend follower and I see this, the trend being down. But when I look at the daily chart I see the trend has been down, and now it looks like it’s starting to move higher. A big, huge power move on Friday on massive volume, 3 times average volume. So Chipotle ( NYSE:CMG ) is one that you can get right now.

Now Skechers ( NYSE:SKX ), not so much. They reported disappointing earnings, seems like they’ve done that before. I think the bloom has definitely come off of this rose, it did a while ago. If you’re buying this stock now you’re buying it for maybe a little dead cat bounce. I would just stay away from this. If you’re long the stock, you’ve got it, you got caught the wrong way. Any kind of support, look, you want to go ahead sell into this stock. Everything is pointing towards lower prices. A little intraday oscillation here and there. But you want to get out of this stock before it becomes teenager again.

And then finally, General Electric ( NYSE:GE ). They reported earnings. Slow growth. Cheap oil, doesn’t work well for GE ( NYSE:GE ) or for other companies majoring in oil, but they’re saying that next quarter will be better. So what do we do? First we zoom out, look at the trend, it’s a choppy trend but it’s trending higher. So we want to be long the stock. You want to be long GE ( NYSE:GE ). Well where’s the best time to be buying this stock? The best time to be buying it is right here. A little bit of a wedgie pattern here. But if you look at the daily chart, I can’t buy it here, not at $32.00. I think as the market rolls over or at least kind of flattens out you get a better chance to buy GE ( NYSE:GE ) down here closer to 30.00.

Would I buy it? Not really. It’s trending sideways, 2.8 percent dividend yield isn’t enough to get my attention. Nor is it enough to get the attention of money managers who are looking to buy high yielding stocks. So if you can get GE ( NYSE:GE ) down towards 30.00, that’s great if this is your stock. But otherwise, I would just steer clear of it and say, “Well, we’ll say how we do next quarter.” But Jack Welsh is long gone. So would I be, from this stock.

3 Stocks I Saw on TV Free Chart