BEST WEEK SINCE MARCH
The headline: Bernanke Says What Traders Wanted To Hear…Rebound Gains Momentum.
This week's rebound trims the worst month in years as the US stock market enjoyed it’s best 4 days since 2003, explains Dylan Ratigan. The catalyst is likely Fed Chairman Bernanke who signaled a new willingness to cut rates again in a speech Thursday night.
BELEAGUERED BANKS BOUNCE
The headline: Bank Stocks, Weighed Down By Mortgage Woes, Roar Back On Capital Injections.
Citigroup (C) received a $7.5 billion infusion of capital from Abu Dhabi while E*Trade (ETFC) accepted a $2.55B cash injection from Citadel, run by Wall Street whale, Ken Griffin's Citadel says Dylan Ratigan.
Karen Finerman recommends playing it, by going long Goldman (GS) and shorting Lehman (LEH).
WHAT'S WRONG WITH TECH?
The headline: Tech Lags Broader Market For The Week After Dell Earnings Debacle.
Google (GOOG), Research In Motion (RIMM) and Apple (AAPL) failed to participate in the market's gain Friday, says Pete Najarian. I thinks there’s currently pressure to take profits in these stocks. "Sell into the strength," he advises.
Tim Seymour also recommends getting out of some tech positions.
CRUDE CRUMBLES BELOW $90:
The headline: Oil Slides 2.5% To $88.71, Lowest Since October 24.
I still think crude has room down to the mid-80’s says Guy Adami. The play might be to buy a refiner and I think Tesoro’s (TSO) current move down was “way over done”. TSO with a 49-handle is a buy, he concludes.
> Read more “Adami’s Crude Story”
Also, Bank of America upgraded two other refiners, Valero (VLO) as well as Western Refining (WNR), adds Pete Najarian.
SHOT IN THE A.R.M
The headline: Homebuilders Soar Friday On Rate Cut Hopes, Plan To Free Rates On Adjustable Mortgages.
I think this will be a short-lived rally, says Karen Finerman, and stay away from the homebuilders with balance sheet problems.
Beazer Homes (BZH) could be facing an SEC investigation adds Tim Seymour. Watch out. Also, he thinks 2008 will be the trough in the mortgage woes, so the worst could be yet to come.
BACK FROM BLACK FRIDAY
The headline: Retailers Shake Off Black Friday Blues To Post Healthy Gains For The Week.
A record “Cyber Monday” with sales of $733 million brightened the Holiday retail outlook, explains Karen Finerman. Amazon.com (AMZN) jumped 10% this week, while Wal-Mart (WMT) and Target (TGT) added 5%.
I think it’s safe to own the retailers who have a good businesses such as Children’s Place (PLCE) and Wal-Mart, she adds.
GOOGLE KNOWS WHERE YOU LIVE:
The headline: Google Adds GPS-Like Feature to Maps Functionality.
Google (GOOG) has disclosed that it will enter the FCC auction to bid for one of the few remaining wireless spectrums, says Pete Najarian. And they’re looking to use the towers to get into the GPS business.
PILL STOCKS POPPING
The headline:Merck (MRK) leads gains among drug stocks.
Goldman upgrades could be behind the pop; also the sector is defensive which makes it attractive says Pete Najarian.
I think GlaxoSmithKline (GSK) is setting up as a great Big Pharma trade, says Guy Adami.
Got something to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to firstname.lastname@example.org.
Trader disclosure: On Nov. 30, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (ETFC), (COP), (NAT); Najarian Owns (BIDU) Options, (CFC) Options, (GOOG) Options, (XMSR) Options, (YHOO) Options; Seymour Owns (ETFC), (INTC), (MSFT), (TWX), (AAPL),(DELL); Seygem Asset Management Owns (CFC), (EEM), (X), (YHOO), (ITU); Finerman's Firm And Finerman Own (GS), (HD); Finerman's Firm Owns (TSO), (WMT), (YHOO), (PLCE), (LTD); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns Fortis; Finerman's Firm Is Short (SPY), (IWM), (IYR), (IJR), (BIG), (HOV), (LEN); Finerman's Firm Is Short (MDY) And Owns (MDY) Puts; Finerman's Firm Is Short (LEH) And Owns (LEH) Puts