Stocks for the Rest of Us
Fast Money Review
Fast Money Focus Stock Picks
Fast Money Review: HD long position
Sep 3rd
Everyone on the show seems to like HD and it’s easy to see why. It’s actually UP YTD. In looking at the chart I would say wait for the stock to pull back a little bit before starting a position. 30 has been resistance for the stock a couple times in the past so there’s no reason to go buying it up here at 29 and change. The stock has been on a tear since July, I would wait until it pulls back to 25 or so before getting in.
Fast Money Review: FXB short, british pound
Aug 28th
The Fast Money crew tonight recommended a short of the british pound via the FXB ETF. While I agree on the fundamental reasons for this I can’t get on board right now until the technicals line up with a more favorable risk/reward setup. The FXB has been in freefall. If you want to short this thing, wait for some strength and then short it. Shorting it down here will require a loose stop and if you’re wrong you’ll lose a lot more money. Stocks usually don’t go down in a straight line and it’s so far away from the 50 day moving average the chances of a bounce of snap back reaction rally are high. Wait for some strength to initiate your short.
FXB short
Fast Money Review: UUP, US Dollar Trade
Aug 27th
The Fast Money boys all like the USD for the last half of this year and so far that seems to be working out well. If you’re not already in I don’t think it’s too late. The dollar was beaten to death and has a long way to go during recovery. Wait for a pullback to enter and set your stop just below the big gap up in early August. So far the stock has been acting very well after the big move up. What we want to see here is a tight consolidation or a low volume pullback after the huge volume spike on the gap up. The big volume means there’s a lot of money going into this trade so if it starts to fall apart it will do so very quickly. Protect yourself with a stop.
UUP