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Santa Skips Wall Street

SANTA SKIPS WALL STREET

The headline: S&P 500 Little Changed as Retail Dragged Down Market in Light Post-Christmas Trading

Higher oil prices and dismal housing also weighed down stocks today explains Erin Burnett, who is filling in for Dylan Ratigan.

Department stores disappointed says Pete Najarian, but energy, steel and copper all continued to work. I like Manitowoc (MTW) and Deere & Co (DE).

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RETAIL'S RED CHRISTMAS

The headline: Target Led Retail Stocks Lower as Christmas Sales Disappoint

In addition, Wal-Mart (WMT), Macy's (M) & Sears (SHLD) shares all fell on the Christmas blues explains Karen Finerman. But we won’t really know final results until January because of gift cards.

And a lot of people just throw out gift cards, adds Jeff Macke.

> Read more “After Santa”

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WHALE WATCHING: BUFFETT'S LAST-MINUTE BUY

The headline: Buffett Paid $4.5 Billion For Controlling Stake in Private Conglomerate Marmon Holdings of Chicago.

Marmon, run by Chicago's Pritzker family, controls global Hyatt Hotels, along with manufacturing, rail businesses and more explains Guy Adami. For a trade, check out Cooper Industries (CBE). It’s a similar company that's publicly traded, he explains.

> Read more "Breaking Down Buffett's Buy"
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MORE BOTTOM-FISHING BANKS

The headline: Merrill Lynch Sold $6.2 Billion Of Stock To Singapore Government Fund, And Davis Selected Advisors.

Earlier Wednesday on CNBC, Becky Quick asked Warren Buffet “Are you buying banks?

Buffett replied, "We havne't seen any that we wanted to move on. That doesn't mean we won't in the next 6 months but so far we have not seen a deal that causes me to start salivating but I could be wrong on the ones I haven't done and the big thing is I hope I'm not wrong on the ones I do."

Jeff Macke reminds viewers that Wall St whales get a better deal than “regular” traders. Why bother with financials, he says.

In the space Guy Adami likes US Bancorp (USB).

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OIL'S YEAR-END RUN

The headline: Crude Oil Jumped Above $96 as Turkish Planes Bomb Kurdish Sites in Northern Iraq... Report Thursday May Show Oil Supplies Dropped Last Week

Guy Adami recommends playing refiners. He likes Tesoro (TSO) which he feels was sold-off “unjustly”.

Pete Najarian prefers the oil service sector stocks. On a related note he recommends Joy Global (JOYG) which makes the machinery for mining as well as Peabody Energy (BTU) and Arch Coal (ACI).

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NEVER BET AGAINST NICHOLAS CAGE

The headline: Disney's "National Treasure: Book of Secrets" Raked In $65 Million During Christmas Box Office.

Pete Najarian saw the movie and he thinks its “phenomenal.” Both Najarian and Macke say Disney is a buy.

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Trader disclosure: On Dec. 26, 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), (ATVI), (DIS); Pete Najarian Owns (C), (MS), (N), (ANR); Pete Najarian Owns (HAL) Options, (MSFT) Options, (TGT) Options, (YHOO) Options; Finerman's Firm Owns (VLO), (WMT), (YHOO), (SUN), (GS), (PLCE), (SKS); Finerman's Firm Is Short (IJR), (MDY), (IWM), (SPY), (SPG), (TCO), (IYR); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (MBI) Puts; Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts

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