Stocks Rebound From Worst Drop In 4 Years
THE SELLING STOPS:
The headline: Stocks Rebound From Their Worst Weekly Loss in Four Years... Dow Bounces Back 92 Points After Losing 585 Points Last Week... Is it Safe to Go Back In?
Eric Bolling says earnings are strong and he feels stocks are still cheap.
Jeff Macke says he’s a seller against 1490 on the S&P 500 because of diminishing returns. He also feels the market is due for a bounce.
Guy Adami anticipates some pain ahead – but overall he thinks the market looks fine.
Pete Najarian thinks investors are less nervous than they were Thursday and Friday.
WHAT'S WORKING: CHIPS:
The headline: NVIDIA (NVDA), Semiconductor Shares Among Today's Best Performers
Pete Najarian says the wireless community is on fire. He likes Vodaphone (VOD) and AT&T (T) as well as Broadcom (BRCM) , Qualcom (QCOM) , NVIDIA (NVDA), and Ericsson (ERIC).
Guy Adami tells the panel to keep an eye on NVIDIA’s gross margins.
Jeff Macke likes Intel (INTC) as a long term play.
WHAT'S WORKING: REGIONAL BANKS:
The headline: Fifth Third (FITB), Regional Banks Among Today's Best Performers
Guy Adami says the environment is favorable for regional banks but he prefers Bank of America (BAC). Guy thinks the subprime "thing" is behind BAC by and large.
Eric Bolling tells Guy no bank is through with subprime "thing". He says stay away from the entire financial sector.
OPTIONS ACTION: SCAVENGING THE WRECKAGE:
The headline: Ameritrade (AMTD) Seeing Some Interesting Options Action Today
Pete Najarian says options buying suggest to him that AMTD is beaten up – and won’t go lower.
Guy Adami speculates that AMTD will strike a deal with E*Trade (ETFC).
Jeff Macke suggests investors slowly add to their position in AMTD for its CEO Joe Moglia.
Eric Bolling says stay away from financials.