FAST MONEY: TRADERS GETTING A LITTLE BEARISH!!!

Posted: August 14th, 2007 | Author: Stock Pitcher | Filed under: Fast Money | No Comments »

 Fast Money trader back on Monday.  All of the traders seemed a little bearish due to the lack of volume and the lack of movement.  Eric Bolling was the only one who said  there was some bottom in financials like Goldman Sachs (GS) and Lehman (LEH), while everyone else Pete Najarian, Guy Adami, and Jeff Macke says they all are getting a little bearish especially when Goldman Sachs had to pump in 3 billion to shore up a fund of theirs.  

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).

 

 

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