Oppenheimer Chief Market Technician Carter Worth reveals what charts say to him about Liz Claiborne (LIZ),Eastman Kodak (EK) and the dollar.
The LIZ chart suggests to Worth that something is not right in the company and industry as a whole. He thinks the stock is going lower.
The EK chart suggests to Worth that the stock bottomed out at $30 and is poised to go higher.
Pete Najarian adds that he likes the fundamentals of EK.
The dollar chart suggests to Worth that U.S. currency will continue to move lower.
For more details about the charts and Carter Worth’s interpretation of trend lines, check out this video.
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Trader disclosure: On Oct 29, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (INTC), (SWY), (EMC); Najarian Owns (UA) And (UA) Options; Najarian Owns (BHI) Options, (DISH) Options, (GOOG) Options, (HAL) Options, (MER) Options,(SNDK) Options, (YHOO) Options; Finerman's Firm Owns (MSFT), (TWX), (YHOO), (NMX), (NYX); Finerman's Firm Owns (NVT) And (NVT) Options; Finerman's Firm And Finerman Own (C), (BEAS); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns (BIIB) Options; Finerman's Firm And Finerman Own (GS), (KFT); Finerman's Firm Is Short (MER) And Owns (MER) Puts