4 Stocks to Buy High and Sell Higher
Joe Terranova has been saying in this market, buy high and sell higher and he again believes that’s the way to trade – especially if you’re involved in these 4 stocks.
They are Apple, Priceline , Chipotle, and Autozone ; all these high priced stocks are soaring.
In fact, a report from Bespoke Investment Group identifies the names above as well as others as parabolic movers. They say, it's rare to see one stock go on a run like this, much less a handful.
Of course that begs the question, when will valuations become just too stretched?
That’s always something to monitor, but the Fast Money traders think in the near-term, – the path of least resistance is higher.
“The story continues in AutoZone. The organic growth in Chipotle remains strong,” says Joe Terranova. “I think all of these names will continue to move higher,” he speculates. “I’d put in a stop and continue to ride them higher. Or with volatility so cheap, buy puts for some downside protection."
Trader Patty Edwards agrees. “These are names that investors must keep an eye on. And if you must pick only one, Edwards says make it Chipotle. “I’m thinking it may be time to get in again.”
And if you’re worried about the law of large numbers, Jon Najarian says don’t be. “Don’t let skeptics say the growth is unsustainable,” he argues. “Apple keeps growing by leaps and bounds.”
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March 2, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Edwards is long (NEE); Edwards is long (NKE); Edwards is long (AAPL); Edwards is long (VLO); Terranova is long (VRTS); Terranova is long (MCD); Terranova is long (GS); Terranova is long (NXPI); Terranova is long (IBM); Terranova is long (MCD); Terranova is long (EMC); Terranova is long (MSFT); Terranova is long (GS); Terranova is long (JOY); Terranova is long (OXY); Terranova is long (LQD); Najarian is long (AAPL); Najarian is long (HFC); Najarian is long (MRO); Najarian is long (WYNN); Najarian is long (WFT); Najarian is long (FIO); Najarian is long (CRM); Kilburg is long (TLT); Kilburg is long (USO); Kilburg is long (SPXU);
Kilburg is short euro currency futures; Kelly is long (USG); Kelly is long Copper;
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