FAST MONEY: TRADER IS NEGATIVE AND MORE SHORT IDEAS!

Posted: August 15th, 2007 | Author: Stock Pitcher | Filed under: Gurus | No Comments »

 

Fast MONEY:

 

Most of the traders were negative on the market and don’t see anything good in the near future.  Karen Finnerman, the chairman is holding on to her puts. 

Berkshire has been buying Nike (NKE), Bank of America (BAC), WellPoint (WLP), UnitedHealth (UNH), Burlington Northern (BNI) and Dow Jones (DJ) while selling Norfolk Southern (NSC), Union Pacific (UNP), H&R Block (HRB), Western Union (WU) and Pier 1 (PIR).

 

Carl Icahn buys Macys (M), Kraft (KFT), Clear Channel (CCU), and Biogen (BIIB)

 

Lambert buys more 10 million more shares of Citigroup (C)

 

Pete Najarian says that techs are still the safe haven.  While Jeff Macke says it’s not a safe haven. 

 

All the traders favor Target (TGT) as a retailer while Macke backs Costco (COST) as well. 

 

Susan Decker, CFO buys one million dollars worth of Yahoo.  Guy Adami and Pete Najarian said that this might be a chance to pick up Yahoo (YHOO) while Macke says it’s “dead” to him. 

 

Mortgage Trade: Pete Najarian highlighted some addition shorts with heavy put buying in names like IndyMac (IMB) and E*Trade Financial (ETFC) which seems like a brokerage but is also a bank with $28 billion in mortgage!  Also he said that there is more put buying in Countrywide Financial (CFC) and Thornburg Mortgage (TMA).

 

Stem cell company, Geron (GERN) according to Guy Adami a lottery ticket.. but if it hits it will pay off big while Macke says it’s safer to buy big pharma with stem cell exposure. 

 

POPS AND DROPS TAKES THE LONGEST TIMES TO WRITE SO HERE IS THE COPY AND PASTE:

POPS (stocks that jumped higher)

Nvidia (NVDA) popped 4%.  A Salomon Brothers analyst raised his price target on the maker of video chips to $53 because of last week’s strong earnings report. – Pete Najarian thinks this stock is going higher.

iRobot (IRBT) popped 12%. The maker of the Roomba vacuuming machine is a front-runner for an urgent military contract to provide robots capable of sensing roadside bombs, according to Time Magazine. – Karen Finerman likes this stock.

Activision (ATVI) popped 4%. Investors took shelter in the video-game maker after it raised its guidance last week. – Jeff Macke reveals that he’s long this stock.

Fossil (FOSL) popped 5%. The 2 billion dollar watchmaker beat analyst forecasts, thanks largely to strong demand outside the US. – Jeff Macke says sell this stock.

DROPS: (stocks that slid lower)

Carnival Cruises (CCL) dropped 5%. The cruise line operator fell after the National Weather Service upgraded a depression in the Atlantic to Tropical Storm Dean. – Guy Adami jokes that Tim Strazzini must have canceled his vacation plans.

Fortress (FIG) dropped 7%. The hedge fund and private equity firm reported a $55 million second-quarter loss as compensation costs almost doubled. – Don’t own it, says Guy Adami.

RadioShack (RSH) dropped 7%. The Texas-based peddler of electronic wares fell along with other retailers in the wake of Wal-Mart’s comments about the consumer. – Jeff Macke says sell this stock.

Delta (DAL) dropped 2%. With hurricane season and fears about the economy growing, who on earth would want to buy the number 3 US airline? – Pete Najarian sees nothing but headwinds for the airlines.

Clean Energy Fuels (CLNE) dropped 23%. The natural-gas company founded by ex-oil wildcatter Boone Pickens said its second-quarter loss more than tripled, even as sales increased. – Karen Finerman says she doesn’t feel sorry for Pickens.

Disney (DIS) dropped 3%. The media giant is rolling over on virtually no news. – Guy Adami jokes that the ESPN 360 launch must not have gone well

 

HURRICANE TRADE: Hurricane Dean may hit the gulf coast

 

Guy Adami picks Flour Corp. (FLR) while Najarian picks Halliburton (HAL), National-Oilwell (NOV) and Weatherford International (WFT).

 

EMC: Guy Adami says that the reversal on the three times volume is a bad sign while Macke says it’s bad but he’s still in.  Najarian is out of it too.  Is this trade over? 

Kaiser Aluminum (KALU) – Finnerman is sticking with it.

FINAL TRADE:

Jeff Macke says stop shorting Home Depot (HD).  Pete Najarian says short Countrywide Financial (CFC). Guy Adami says short the market and buy Short Dow30 Proshares (DOG).

 

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