Guy Adami says the Etrade (ETFC) and TD Ameritrade (AMTD) deal will happen and the New York Mercantile Exchange (NMX) and the New York Stock Exchange (NYX) may not happen because someone else may buy them instead. Dylan Ratigan says notice that none of the buyouts are private equity because the deals has dried up.

Stacey Gilbert says that the airlines may see some consolidation but Najarian disputes it. Macke says sell the airlines and where’s his wife’s bag that Delta lost!

Najarian and Gilbert says that the metals industry is moving. Najarian pointed out Alcoa (AA)

Abercrombie & Fitch (ANF) moved up despite guiding down but Macke says that the consumer is not dead while Ratigan says the younger folks not the Generation Y are the consumers.

Apple (AAPL) is seeing action. Najarian says there is a lot of call options and says that it’s about the other products not the iPhone. Adami on the other hand says there is some downside.

Netease.com (NTES) got good reviews from Ming Tsao who works with Gilbert and says that there is growth.

Bristol Myers (BMY) and Schering Plough (SGP) saw a lot of good call options. While Adami says watch out for a drop in Merek (MRK) because of insider selling.

Lehman Bros (LEH) moves up because Macke says the Fed is backing them but in the long term it’s not a good thing.

Bank of America (BAC) takes a 2 billion dollar piece of Countrywide Financial (CFC) at 20% share at great terms for Bank of America. Macke says the winner is Bank of America because they were buying a dollar for $0.80. Note: Warren Buffet bought Bank of America. While Gilbert says she doesn’t like financials and there are some problems. Cognizant Technology (CTSH) is a financial provider for IT and is a play for growth. Najarian says Citigroup (C) is looking good while Adami says BAC and US Bankcrop (USB).

Dubai picked up $5 Billion of MGM. Najarian it’s an area to look into Starwood (HOT) which is seeing activity and Gilbert owns it. Wyndam Worldwide (WYN) is a good one with it’s buy back. Gilbert recommends Gaylord Entertainment (GET) is a convention company.

Gap (GPS) who just found a new CEO has earnings tomorrow. Najarian says it’s an ok buy because it’s way down already.

IRobot Corp (IBOT)’s CEO was on show and talked more their military and consumer divisions. In 2006, it’s 40% consumer and 60% military but they wear expanding their consumer division quick. Macke, Najarian, Gilbert, and Adami says it’s a buy. Adami noted the 18% short interest…did someone say short squeeze!

POPS:
Abercrobie & Fitch (ANF) – Macke says don’t buy or short.
China ETF (FXI) – Najarian says own till Beijing
Hong Kong ETF (EWH) – Adami says it’s a buy
Blue Cost Systems (BCSI) – Gilbert says buy
Network Appliance (NTAP) – Adami loves it even here
US Airways (LCC) – Gilbert says that not to buy it on the upgrade
Foster Wheeler (FWLT) – Macke says the easy money is gone – don’t chase

DROPS:
Tween Brands (TWB) – Macke says good bye
Fleetwood Enterprises (FLE) – Najarian says stay away.

South Africa Trade: South African ETF (EZA) Najarian says you can wait and Macke says perhaps wait till 2010 World Cup.

Final Trade: No trades..they picked the MBA challenge Yale or Texas. Anyhow where is Eric? You must read about my conspiracy theory about why Eric Bolling is gone.

Eric Bolling Profile

City: New York
Exchange: NYMEX
Age: 43

What He Trades: Natural-gas futures are Bolling’s market of choice, though he got his start in crude oil. “If you think of the crude-oil pit as a $100-minimum table,” he explains, “then natural gas is the $1,000-minimum table. It’s hugely volatile.” The international nature of energy appeals to him. “Chicago has a lot of grain markets and agricultural pits where the markets are localized, but energy is global. Something can happen in Saudi Arabia that has ripple effects from Shanghai to Manhattan.” Bolling owns two seats on the NYMEX, two on the Comex and two on the NYBOT.

How He Trades: Bolling is down in the pits all day, every day. When trading ends, he monitors his positions electronically. Still, he remains a devotee of the cut and thrust of the floor: “When something happens in the market, they all go to open-outcry, because that’s where the volume is.”

Bolling represents a lot of that volume, claiming responsibility for as much as 5 percent of the action in the natural-gas pit. Six-foot-one and a former professional third baseman, he says the physical and mental edge that comes from competitive sports gives him an advantage. “When you’re on the field or on a court, there’s a process you go through in your mind that is similar to making a commodities trade or a pit trade. Not necessarily an upstairs, long-range hedge-fund manager’s trade. But in an instantaneous pit trade, athletes are very good.”

How He Got Started: In 1985, Bolling, drafted out of Rollins College by the Pittsburgh Pirates, was playing for their single-A affiliate in Bradenton, Florida, when a routine grounder came his way. “I picked up the ball, turned to throw and heard a pop in my shoulder,” he says. “That was it, the end of my career.” He started looking for other jobs. A Chicago native, he had seen the serious money to be made at the exchanges. Later that year, he found himself on the energy desk for Prudential-Bache in Boston.

“I realized that the people really making money were on the trading floor. So I did whatever it took to get down there.” He leased his first seat in 1987 and bought his first seat the next year.
Estimated income: $10 – $15 million

Pete Najarian says that now that everything is becoming transparent, banks are going up like Bank of America (BAC), Wells Fargo (WFC), and Citigroup (C) are close to buys.

TECH TRADE: Najarian recommends EMC (EMC) who is breaking new highs of recent while Adami says Network Appliances (NTAP) is the one to watch. Contact Hunter says Apple (AAPL) is looking strong. Macke says Intel (INTC) is the real one.

Target (TGT) had good earnings but Macke says specialty retailers like Zumiez (ZUMZ) and Gamestop (GME) are the trade and should start to take some off basically sell into earnings. Hunter says that based data that wages were up 7% and will support the retail market.

MEDTRONIC TRADE: Najarian says Medtronic (MDT) is a buy on it’s afterhours weeknes.

DELL TRADE: Dell has problems with production. Sounds like a sell.

Argriculture TRADE:
Hunter says that this has nothing to do with the subprime problem and says they are oversold. Buy Potash (POT) and Agrium (AGU).

CHINA INFLATION TRADE:
Guy Adami says that the “shoe will fall” meaning that it will fall sometime. Hunter recommended iShares MSCI Hong Kong (EWH) as a trade because China will let money flow to the Hong Kong market. Huge money flow…I smell MONEY! Najarian says just own China into Beijing Olympics

RATE CUT TRADE:
Dividend ETF (DVJ), Kraft (KFT), and Johnson and Johnson (JNJ) was recommended by Najarian. Adami says Goldman Sachs (GS) to be bought now. Widsom Tree International Finance (DRF) should be the play according to Hunter because of weakness in the dollar. Jeff Macke says screw the financials because the rate cuts are priced in already!

TARGET BAROMETER TRADE:
Jeff Macke says the numbers were fine and Target says the consumer is just fine which is backed up by Hunter’s data about rising wages.

OIL TRADE: Drops 12% below $70.
Najarian says the energy is going further down and Energy SPR (XLE) is coming down. All the oil stocks are seeing a lot of put buying while airlines are a good play. While Adami says any event will push oil back up and he like Exxon (XOM). Macke says sell those airline stocks.

Dick’s Sporting Good (DKS) – CEO Ed Stack comes on the show as it jumps after raising earnings forecast. Stack claims that he can grow with a new golf chain. Hunter doesn’t like it but the guys, Adami, Najarian, and Macke says BUY IT!

POPS:
Apple (AAPL) – Adami says don’t buy yet.
Synchronoss (SNCR) – Najarian says stay away for now.
RealNetworks (RNWK) – Macke says sell because they can’t take down iTune.
Contential Airlines (CAL) – Hunters says it’s just short covers – she says SELL
VMware (VMW) – Adami says it’s good but don’t chase it.
Take Two Interactive (TTWO) Macke says sell it – it has no good games.
Costco (COST) – Mackes says it’s still a buy
Starwood (HOT) – Najarian says options activity says to watch it.
Amazon.com (AMZN) – Jeff Macke says it’s just shorts getting killed.

DROPS:
Toll Brothers (TOL) – Adami used the work “SUCK” that is self explanatory.
Hess Corp (HES) Energy dropping because of oil – Hunting
Infosys (INFY) drops because of banks weakness because they do IT for them. Hunter says buying opportunity.
Saks (SKS) – Adami says it’s a sell

iShares MSCI Swedent (EWD) – Hunter says go long. Macke says go long too.

FINAL TRADES:
Macke says sell TTWO
Adami says buy Target (TGT)
HXM Hunter Buy Mexcio home builder, Homex (HXM)
Najarian says buy Under Armour (UA)
UST (UST) – Najarian says sell because of competition

The traders all seem a little scared of the market as they see that the treasury market is showing that the problems with credit is not being solved by the recent Fed move and most of them suggested safe names in railroad and tech. There wasn’t much in suggestions to buy and they noted that volume was light today. Volatility remained high and that was a bad sign. A good indicator for the economy is the reports and guidance for all the retailers this week.

WORD on the STREET:

The market moved higher on Bernanke-Dodd meeting. Najarian noted that railroad stocks moved. Union Pacific (UNP) and Burlington Norfolk (BNI) were noted. Stacey Gilbert, “The Hammer” said that everyone is tired but Guy Adami says the market looks encouraging. Eric Bolling is gone? I’m not sure. Anyone has news?

Najarian says financials are not on a bottom yet. Guy Adami says Berkshire Hathaway (BRKA) is at a 52 week high and you should buy what Buffet is buying like Bank of America (BAC). Macke again was skeptical of the market.

Chip trades were mentioned. Stacey Gilbert says tech is the safe haven as well as railroads.

Capital One (COF) closed their Alt-A mortgage division, GreenPoint Mortgage and Guy Adami says that’s it’s going to be a problem for all of the financial market but everything is priced in. While Najarian and Gilbert says that the unknown is becoming a huge issue. Najarian and Gilbert are options specialist.

Lowe’s (LOW) moved up on earnings and guided down but does it mean it’s better; Jeff Macke says no! It’s just bouncing off a low and according to Dylan Ratigan “because they didn’t suck that bad.”

Freeport McMoran (FCX): Gilbert and Adami says it’s a buy here! While Macke says no!

Fluor (FLR) – moves up on 2B Kuwait contract and some more contracts. Adami says own it!

Medtronic (MDT) earnings tomorrow? Buy or no? Najarian expects a good report but no options movement.
GameStop (GME) earnings tomorrow? Gilbert says there is options activity for a 10 percent move expect.
PetroChina (PTR) – Dropped 16% and Adami says it’s a buy because Buffet owns it too.
Goldman Sachs (GS) and Mastercard (MA) and Alcoa (AA) – there were lots of options activity saying that there is upside
Nasdaq (NDAQ) they are selling their share of London Stock Exchange and going to buy back stock and focus on the OMX

Treasury Yields had their biggest moves: Flight to quality suggest that according to Gilbert that the short term market says that everyone is scared. Macke says that financials are in trouble and there is a panic. Adami suggested you need to pick good companies like Juniper (JNPR) and Flour (FLR) while Najarian agrees that you have to be selective to dividend like railroads and pharma.

Retail Report: The biggest scare would be if the consumer stopped spending. Target is reporting tomorrow but Jeff Macke, the retail report says that it’s not about the numbers but it’s about the guidance. He says Target (TGT) is the one to watch. Zumiez (ZUMZ), Dicks Sporting (DKS), Gymboree (GYMB) and other specialty stores are doing well but should show how strong retailers will be.

Gadget Trade: Research in Motion (RIMM), Garmin (GRMN) and Palm (PALM) all moved up. Najarian says that RIMM has momentum and Nokia (NOK) is good as well. Macke says Palm is dead. Everyone said not to buy it.

POPS: First Solar (FSLR) – Najarian says it’s a buy , Dendreon (DNDN) – Najarian says it’s not a buy yet still risky, Smurfit-Stone (SSCC) – Adami says its hard for him to own it yet even though it recovered. Baidu.com (BIDU) – Najarian says it’s good. Tribune (TRB) moves up on closing arbitrage.

DROPS: Lehaman Bros (LEH) – Adami says there are problems don’t buy it. DirectTV (DTV) – Mack says still a sell, Moodys (MC) – Gilbert says too risky because they are related to subprime, Nordstrom (JWN) – Macke says high end retailers are weak too.

FINAL TRADES:

Najarian Says buy ATML on Options
Guy Adami and Stacey Gilbert says buy FCX
Macke says sell ANF

TRADE PICKS

Najarian noted that Alcoa (AA) saw lots of call buying.  Adami says the low may be close.  Keep in mind commodities are still getting beat down.

Hewlett-Packard got strong numbers after hours.  Macke said that the business was strong and Najarian said that it should carry the market.  Adami says Dell (DELL) should be good after the accounting investigation. 

Adami picks some strong stocks like Biogen Idec (BIIB) and Hewlett-Packard (HPQ). 

Thornburt Mortgage (TMA) insider buying suggested that the stock was safe and Pete Najarian is now long. 

 In fanancials, Adami picked that Bank of America (BAC) and Goldman Sachs (GS) while Najarian says Wells Fargo (WFC).  Jeff Macke says Goldman Sachs is a trade. 

INTERVIEW WITH DENNIS GARTMAN

 Commodities traders were killed and Dennis Gartman of the Gartman Letter says that the market was a little over extended and the market will move back for a few days.  He’s watching Euro/Yen currency trade says the trading is violent.  Gartman says that he’s still going to stay away from US Steel and he may start buying oil.  Gartman says we’re in a bear market in stocks and bull market in volatility.  He says the bounce will be on very weak volume but he could park.  Gartman says you’ll get a strong bounce for the next few days on short covering from Friday and Monday.  But he says sell into the rise. 

INTERVIEW WITH CORNING CEO

Corning Inc (GLW) James Flaws, CFO says he has seen no slow down in glass fiber demand and the company is doing fine.  He says that he feels that slow down in consumer spending will not hurt them (defy economics?).  Also other segments are growing as well.  Jeff Macke is hold on it.  Najarian says it’s a buy.  Adami and Bolling says hold it.  Bolling says the chart is horrible. 

POPS AND DROPS: Mostly drops today.  How weird. 

Drops:

Ford (F) – Adami says sell

Freeport – McMoran (FCX) – Eric Bolling says stay away.

Gold (GLD) – Bolling says you can own it.

Sotheby’s (BID) – Macke says you can buy it. 

SONY INTERVIEW

Sony (SNE) CEO was on the show but after his presentation, all the traders said it was a total sell.  Poor CEO who came on the show.  He looked really disappointed – it was borderline sad.  Can’t help but feel bad for the guy.

WEB EXTRA:
Eric Bolling says Beazer Homes (BZH) is the bulleye of the market and should go bankrupt while Macke says that JC Penny (JCP) was doing well despite a good retail environment.

FINAL TRADES:

Mackes wants General Motors (GM) because it’s at the bottom.  Najarian says that Thornburg Mortgage (TMA) might be bought but Macke says or bankruptcy.  Adami says Network Appliances (NTAP).  Bolling says buy financial XLF

The bloodbath continues as today the S&P 500 has just gotten into the red.  Jeff Macke says that you should sell until you can sleep because this is a real problem.  Guy Adami says there is a lot more downside.  Time Seymour, the Ambassador says that stocks will still suffer.  Pete Najarian says the volatility index hit 31 and the put activity in Countrywide Financial (CFC) was insane and he is short CFC. 

Financial Trade:

Guy Adami points out that Buffet bought Bank of America (BAC) and there may be some value in financials.  But Macke points out there hasn’t been reductions in earnings yet and Goldman Sachs (GS) with a PE of 8 is wrong and needs to be reevaluated.

Tim Seymour was actually buying something but says that a dollar play would help you.  Seymour says that you should look into ETFs FXC which is a Canadian dollar ETF. 

But Jeff Macke says just sell it.  Sell it.  It sounds very scary now. 

Deere (DE) – is running up; part of the agriculture trade.  Guy says there is opportunity but it is a tricky market right now. 

Hewlett Packard (HPQ) Trade – There is a lot of optimism and Jim Goldman, CNBC’s Silcon Valley Bureau Chief says he owns this and that cost cutting and operating margins may move Hewlett Packard but it will all depend on outlook. 

The Materials and Finance sectors were the worst performing.  But materials were a huge surprise but Tim Seymour said that all the trends are challenged but not out.  Guy Adami says there is a capitulation so there may be a buying opportunity soon.  US Steel (X) went from $127 now trading at $80.  Jeff Macke says that all the trades were crowded and all the funds were dropping it and everything else.  He says don’t confuse the stock with the market meaning that the stock is good.  20 to 1 put to call ratio in materials according to Najarian. 

China Mobile (CHL) – all the traders says that it’s a good trade because mobile markets are still growing.  Guy Adami says there is still more growth and says it’s a great place to park your money.  Tim Seymour says mobile is the best emerging market play!

PetSmart (PETM) beat the market and the CEO says that they are riding the wave of the “humanization” of pets along with services that differentiate themselves.  Macke, Najarian, Adami, and Seymour all say it’s a good buy. 

DROPS

Lehman (LEH) – Adami says sell

Emerging Market ETF (EEM) – Seymour says Short 

AMR Corp (AMR) – Najarian says it’s going lower

KKR Financial (KFN) – Mortgage exposure – Adami says it’s a pop tomorrow though.

Crocs (CROX) – Seymour says it’s not right for men not from Sweden to wear clogs so it’s a sell.  A little humor in the insanity. 

POPS

Thornburg Mortgage (TMA) – Najarian says it’s a fake pop – we’ll see.

H.J. Heinz (HNZ) – Seymour says it’s a buy – Note Nelson Petz has a position

VMWare (VMW) – Adami says don’t chase it but watch it.

New York Times (NYT) – Macke says still a sell.  

Final Trade:

Jeff Macke says don’t buy anything. 

Najarian Short Etrade Financial (ETFC)

Adami buy more DOG

Seymour says buy MBT

Countrywide Financial, CFC, Goldman Sachs, GS, Hewlett Packard, HPQ, Deere, DE, US Steel, X, China Mobile, CHL, China Unicom, CHU, Thornburg Mortgage, TMA, H.J. Heinz, HNZ, VMWare, VMW, New York Times, NYT, Crocs, CROX, KKR Financial, KFN, AMR Corp, AMR, Emerging Market ETF, EEM, Lehman, LEH, PetSmart, PETM,  Etrade Financial, ETFC

Lexmark (LXK) – Pete Najarian says that there was lots of call options activity suggesting bottom. 

Japanese Yen (FXY) Eric Bolling says the yen carry trade is unwinding. 

Office Depot (ODP)- Najarian notes Office Depot Oct 25 calls moving suggesting that it’s bottoming.  Keep an eye on it.  

Blackstone Group (BX) had great earnings but most of the traders are skeptical but in the conference call it’s worth noting that they say some private equity players are falling out because they outbid them for many deals.  Najarian says it’s close to being a buy. 

 VMWare (VMW) – IPO is tomorrow and Adami is “giddy” about own EMC (EMC) is a great company and they are doubling revenue.   Macke and Najarian owns EMC and Bolling says yes too.  They all AGREE!  Buy EMC.  Disclosure: I already own EMC options. 

 WalMart (WMT) – Macke says it’ll suck in terms of a conference call.  Macke says buy Target (TGT) and Costco (COST) instead.  Najarian says stay the heck away from Home Depot (HD). 

 Sysco Corp (SYY) CEO Richard J. Schnieders was on the show.  It’s a food distributor around the US.  Jeff Macke and Pete Najarian like it.  Guy Adami says it’s a volatile stock.  Eric Bolling says sell this stock because it doesn’t have international exposure.

Starbucks (SBUX) – A long according to Najarian and Bolling.  Macke says buy Whole Foods (WFMI) instead.

POPS & DROPS:

Pops: Sprint (S) after carrying new RAZR 2 – Guy Adami thinks the stock might have turned – BUY, Alcoa (AA) - Eric Bolling likes this stock.  Usec (USU) – Macke says sell but Bolling says there are buyout rumors.  American Axle (AXL) – Guy Adami likes this stock. Polo Ralph Lauren (RL) – Jeff Macke says sell RL and buy Coach.  ValueClick (VCLK) after JPM upgrade. – Eric Bolling says buy VCLK on a dip.  Computer Sciences (CSC) on no news – Eric Bolling says sell Discover Financial Services (DFS) – Guy Adami says he likes American Express and Mastercard better.

DROPS: Countrywide Financial (CFC) – Pete Najarian thinks this stock will continue to drop.  TiVo (TIVO) – Jeff Macke says avoid this stock.  Martha Stewart Living (MSO). – Jeff Macke recommends Martha end her relationship with Sears.  DeVry (DV) after missing revenues.  Briggs & Stratton (BGG) after downgrade – Guy Adami says sell because of “atrocious” earnings  Steak n Shake (SNS) hit a four year low and the CEO quit – enough said – A sell!

WEB Extra:

Accredited Lending (LEND) and First Data (FDC) deals may fall apart.  First Data was bought out for $35 but Najarian saw a huge put volume suggesting that the deal may fall apart. 

Eric Bolling say there is weakness in oil so stay away but it should trader between the tight range of $65 and $99…good job Eric! (sarcasm)

FINAL TRADE:

Jeff Macke buy the Retail HOLDRS (RTH) for a very fast trade.

Pete Najarian recommends shorting Countrywide Financial (CFC).

Guy Adami prefers to get short buying the Short Dow30 Proshares (DOG).

Eric Bolling likes streetTRACKS Gold Trust (GLD).

Guy Adami says that the down is still going to 12750 but it’s a healthy correction. Jeff Macke on the other hand said that he was just a little skeptical about he transparency in the financial market. Tim Seymour said that the 38 billion pumped in by the Fed suggested that the Fed is supportive of the environment. Adami then later that earnings were solid and in the end it’ll be ok. Pete Najarian says that for two more weeks there will be wild volatility and he owns VIX, volatility options.

FINANCIALS:

Tim Seymour says Countrywide, CFC was having problems selling their good loans so it was a sign that right now, there is a lot of uncertainty in terms of valuing. Adami recommends American Express, AXP because of insider buying.

TECH TRADES:

Najarian says that you should keep your eye on Ebay, EBAY and Yahoo, YHOO. Macke says that techs may be too crowded now but still the best to be.

STEEL TRADE:

Tim Seymour recommends US Steel, X because there is growth and it’s in a consolidating industry meaning BUYOUT! Adami recommends gold, GLD – which is a Gold ETF. AngloGold, AU and Ivanhoe Mines, IVN, should be interesting due to options activity according to Najarian.
RETAIL TRADE:

Jeff Macke says stay away from Walmart, WMT and Home Depot, HD and go with Costco, COST and Target, TGT on any dip.

Potash TRADE:

Chief Executive William Doyle of Potash Corp, POT was on the show and suggest that the AGU play or the agriculture play was still strong and globally as well. All the trader except Macke say this is a buy. Macke seems to be skiddish about everything though. BUY they say. BUY.

POPS AND DROPS:

POPS: CME (CME) – Pete Najarian buy because of volume.

DROPS: Apple (AAPL) – Jeff Macke believes if the stock breaks $121 it is going down to $100. Lockheed Martin (LMT) – Guy Adami says at $90 the stock is a buy. Tiffany (TIF) – Jeff Macke says buy Blue Nile (NILE) instead. Molson Coors (TAP) – Guy Adami it’s a good time to buy.

OIL TRADE:

Although gas dropped to $70 from approaching $80, Tim Seymour says that it’s a buying opportunity because the demand is still there.

FINAL TRADE:

Jeff Macke likes Callaway Golf (ELY). Pete Najarian prefers Ivanhoe Mines (IVN). Guy Adami says Hilton (HLT) is a buy. Tim Seymour recommends US Steel (X).

Disclosure: Macke Owns (INTC), Najarian Owns (GS), CBOE Volatility Index (.VIX) Options; Seymour Owns (AAPL), (BX), (GLD), (SBUX), (X), (BBD) Seymour Owns Bank VTB OAO

As for cutting rates, the market is pricing in an expect cut in September and Macke agreed with Najarian that they shouldn’t cut yet to keep ammo for a bigger disaster.

Everyone says to sell Home Depot, HD because they can’t buy back stock because they can’t sell Home Depot Supply.

Nvidia, NVDA jumps after hours after destorying earnings and Guy Adami reiterated that it’s a buy still but a little expensive.

Cypress Semiconductor, CY – Daniel Loeb – Activist took a position and Najarian owns it as well as another semicondocutor American Seminconductor, AMSC

Water Trade: Edison International, EIX and SJW Corp., SJW was recommended by Eric Bolling as a water trade because of exposure in California.
TECH TRADE: All the traders says buy Tech!  Macke owns Intel, INTC.  Najarian suggested Micron, MU, Cisco, CSCO, Priceline, PCLN, while Yahoo, YHOO and Ebay, EBAY saw a lot of options buying.  While Eric Bolling says by Technology Sector ETF, XLF.

PHARMA TRADE: Pete Najarian says Pharma is good but not bulletproof and suggested Wyeth (WYE), GlaxoSmithKline (GSK)Eli Lilly (LLY). But he said two bulletproof ones are Myriad Genetics (MYGN) or Amylin Pharmaceuticals (AMLN.  Guy Adami say buy GlaxoSmithKline, GSK.
and

SHORT TRADE: Macke says short Sony, SNE and Home Depot, HD.  Eric Bolling says that you should use ETFs for protection like UltraShort S&P 500 ProShares ETF (SDS) and UltraShort QQQ ProShares ETF (QID).  He also suggested buying the CurrencyShares Japanese Yen Trust (FXY) for the carry trade.

INTERVIEW WITH A BEAR:

Dennis Gartman is editor and publisher of The Gartman Letter – a newsletter that Eric Bolling calls a “must-read”.  Gartman basically said that the subprime problem is not going to end soon with most of the resets of the rates and it’ll be 6-12 months for the any recovery.   He is short financials through Financial Select Sector, XLF

WHALE TRADE:

The whale was Warren Buffet and Eric Bolling says his annual letter is must read as well.

Guy Adami explained the five criteria for Buffet’s value style:

-         $5 – $20 billion range
-         consistent earnings power
-         earning good returns on equity
-         little or not debt
-         simple businesses

Pete Najarian says investors should buy Johnson and Johnson (JNJ) and Coke (KO) like Warren.

WEB SPECIAL:

Metals fall and Bolling says don’t buy until the money goes out.  He took a spill on these steep drops.

Macy’s, M and Dillards, DSS fall became of lack of buyout premiums and says that they are sells.

POPS AND DROPS:

DROPS: Family Dollar, FDO – Macke says sell, Americredi, ACF – Adami says sell bad credit, Nike, NKE -Macke says it’s still good, Snap-On, SNA – no comment, BJ Wholesale, BJ – Macke says buy Costco, COST instead.

POP: Vonage, VG – Bolling says sell, Hovananian Enterprise, HOV – Bolling says sell on strength, Skechers, SKX – Najarians says buy Nike instead, Fleetwood, FLE – says it’s madness
FINAL TRADES:

Jeff Macke likes Berkshire Hathaway (BRK) but notes the last two Fridays were horrible so watch out.

Pete Najarian recommends NASDAQ (NDAQ) for its record volume.

Guy Adami pitches GlaxoSmithKline (GSK)

Eric Bolling pitches Hewlett Packard (HPQ).

Blacksone, BX closes it’s $22 billion dollar fund which suggest there is still a lot of money out there. Liquidity is back baby? Or is it.

Buffet buys more railroad with added positions in Burlington Northern Sante Fe, BNI!

Pharm Trade: Pete Najarian recommends

Exchange Trade: Nymex, NMX rumors still going because Eric Bolling who works there says they are moving for sure.

Nvidia, NVDA – Guy Adami says it’s still a stock to own and Najarian says 4 to 1 call to put ratio suggesting there will be good earnings.

EchoStar Communications, DISH – breaks it’s trend and Bolling says it’s a sell. Jeff Macke agrees with that due to higher cost.

Jack In The Box, JBX gets killed after disappointing guidance dropping about 10%. Jeff Macke says stay away.

CHINA TRADE WITH MELISSA LEE (I don’t think Melissa is Chinese though)

On the infrastructure play, Melissa says Caterpillar, CAT expects to triple sales by 2010! She adds that Marriott, MAR will benefit with 2800 additional rooms for the Bejing Olympics.

Adami says own China Mobile (CHL) and PetroChina (PTR)until the start of the Olympics while Eric Bolling recommends buying the iShares FTSE/Xinhua China 25 Index, FXI because it gives you broad exposure. Pete Najarian likes 51job Inc., JOBS which is the biggest job site in China.

Bristol-Myers, BMY and Medarex, MEDX on suspected melanoma cure which Eric Bolling doubts but Najarian owns BMY on options activity.

LUXURY TRADE:

Polo Ralph Lauren, RL missed earnings and dips but Jeff Macke says buy Tiffany & Co, TIF and Saks, SKS on the dip as well as Coach, COH.  But avoid Claiborne, LIZ and Jones Apparel, JNY.

ICAHN TRADE:

Traders says that Icahn misses but Jeff Macke says it’s just points out stocks to watch.  Bolling says he doesn’t understand why he doesn’t understand Motorola, MOT position but says the Kraft, KFT which has Petz and Icahn is in makes it an interesting trade.

AGU PLAY:

Agrium, AGU Chief Executive Michael Wilson came on the show to say the sector is on fire.  All the trader agreed.  Eric Bolling’s agricuture picks from March were Monsanto, MON, John Deere, DE, Bunge, BG and Agrium while Najarian adds Terra, TRA.  Eric Bolling notes everytime you rotate crops you need Agrium so all the traders are supports of Agrium!

POPS AND DROPS:

POPS: Lehman Bros, LEH – Najarian says buy. Hansens Natural, HANS – Adami says buy.  Amerc, UHAL – Bolling says sells though.  Ford, F – Adami who has been loving Ford says it’s going to $10 on labor concessions.  Beazer Homes, BZH jumps 25% – Bolling says selling opportunity but Bolling says buy Public Storage, PSA instead.  Warner Music, WMG on buyout – Macke says sell.  Priceline.com, PCLN – Najarian says buy

DROPS:  Charming Shoppes, CHRS – Macke says becareful of retail.  Leap Wireless, LEAP – Mackes says sell because of fast rate of customer loss.  Lamar Advertising, LAMR – Adami says it’s a sell on weaker real estate and mortgage advertising.

CLEAN TECH TRADE:

American Superconductor, AMSC infrastrure play that keeps grids up to date and Najarian says call options are screaming something is happening before earnings.

FINAL TRADES: My DVR didn’t record it…sorry.