Take Your Profits on This Tech Darling

Welcome back to another episode of Wall Street Unplugged.

This week I’m again joined by the one and only market veteran – Richard Suttmeier.

Rich has been analyzing stocks for over 40 years, is a weekly contributor for Forbes and TheStreet.com, and is the founder and CEO of Global Market Consultants.

As my frequent listeners know, Rich is probably the biggest permabear I invite on the show.

Our opinions almost always contradict…

Yet for this reason, he is an asset for all my investment theses… Why?

Rich has a knack for uncovering data no else seems to mention. He calls it “the balance sheet of the U.S. economy,” otherwise known as the FDIC Banking Profile.

And although he uses this overlooked data to contest nearly everything I put on the table…  It always helps to hear the otherside.

If you own a stock, or a have any interest in a certain sector… you don’t want to talk to the hundreds of people that love it. Instead, you want to hear from that one guy who hates it.

And Rich is that guy.

On today’s show he brings the heat – focusing on the downside risks of oil, semiconductors, utilities, housing markets, and his favorite, the financial industry.

If you have bets on any of these sectors, let Rich challenge your perspective. It won’t hurt.

Then, for today’s Educational Segment [43:13], I’m breaking down a stock that the whole world’s in love with right now.

It’s a global tech “darling” and is part of a select group of stocks that essentially drives the entire market, also known as FANG.

But trading at 23 times earnings, after coming off four straight quarters of positive earnings, I make the case for why it’s time to cash in… and take any profits off the table. Recent momentum has carried on just too far.

Click here to read the entire show transcript! (pdf)

Links & Resources

Stocks Mentioned

  • Barrick Gold (ABX)
  • Newmont Mining (NEM)
  • The Select Sector SPDR Trust (XLU)
  • Amazon (AMZN)
  • Facebook (FB)
  • Alphabet (GOOG)
  • Netflix (NFLX)
  • Citigroup (C)
  • JPMorgan Chase & Co. (JPM)
  • Bank of America (BAC)
  • Wells Fargo (WFC)
  • BB&T Corporation (BBT)
  • Green Bancorp (GNBC)
  • Tesla (TSLA)


technical analysis

How to use technical analysis to make money in this market

Rich Suttmeier is founder and CEO of Global Market Consultants—and the newest contributing editor at Curzio Research. He’s an excellent analyst with 40 years of…
Listen Now

Talking Stocks Over a Beer will return next week

It’s officially summer, and I find myself with an exceedingly full plate this week. I’ll be back with a new podcast for you on June…
Listen Now