Here is your trade on Meta Platforms ($META) – November 17, 2023
This is Dan Fitzpatrick with FITZ IN FIVE. I was in the studio this afternoon, talking with Charles Payne on “Making Money”.
We were talking about these mega-cap stocks and I said, “You want to just stay with the winners, rather than trying to pick the losers.” My statement was, “Be patient with the winners so you don’t have to be patient with the losers.” And that still stands to reason.
We’ve got money managers that are behind the 8 ball. We’ve had a really tough year for outperformance in this market with this big, big down downdraft here. That is always, kind of, the case. Most money managers will not, on average, outperform the S&P ( INDEXSP: .INX ), and that is just a fact.
We get a big move here, the first of the year, boom! then we get slammed down, by almost 10 percent. Then we get a really impressive rally up here, in 5 months or so. And then it is slammed down again here, and now we are back up here. So you are a big money manager and you are trying to impress your clients.
The S&P ( INDEXSP: .INX ), ultimately, is up a lot and you’re not. So what are you going to do? You are going, “Well crap, I work for a big institution, I want to get my end-of-year bonus, so I have got to make some dough.” Or you’ve got clients and you know they are going to be busting your chops. So you are saying, “Okay, I have got to try to make some more money.
The most important thing is, that I’ve got to dress up their portfolio so they don’t see that I had dogs like Disney ( NYSE: DIS ) in there, and some of the transports, and instead, I’ve got the big dogs. So they start buying Microsoft ( NASDAQ: MSFT ). This ( NASDAQ: AVGO ) is one of my crowd favorites here because nobody has really been talking too much about it. And they definitely start buying Meta ( NASDAQ: META ), this type of thing.
I’m looking at this and I’m saying, “Look, I don’t want to overthink this. I’m sure you can hop onboard some hot stock and make more money than you will on Meta ( NASDAQ: META ), through the end of the year.” All I’m saying is, “I think if you are buying the stock here, you are going to make money into the end of the year.”
The thing has got the wind at its back, so I am looking at this and, definitely, I see a 350.00 in the cards, which doesn’t seem like much, that’s another 5 percent or so. But do you know what, I’ll take it? So you are buying this stock here. Maybe keep your stop a little bit below the 50-day moving average. I seriously doubt that it is going to come down to the 50. My sense is, this stock is going to work for you.
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