Time to sort through the Fast Money inbox and answer more of your questions.
Gordon writes, “Is 1390 on the S&P low enough to move the next support level - having passed through the 1400 double bottom?”
I think we are broken on the S&P replies Jeff Macke. I expect to see 1370.
Rob writes, “What single play is considered the most defensive by each on your panel?”
Najarian – MacDonald’s
Finerman – Altria
Adami – Johnson & Johnson
Macke – Merck (MRK)
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Trader disclosure: On Jan 8, 2008, 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), (SWY), (INTC); Najarian Owns (BIIB), (MCD), (MSFT); Najarian Owns (AAPL) Options, (CFC) Options, (VLO) Options, (YHOO) Options; Najarian Is Short (WM) Through Options; Finerman's Firm Owns (CROX), (DVA), (GS), (YHOO), (DSW); Finerman's Firm Is Short (IJR), (IYR), (IWM), (SPY), (SPG), (TCO); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (MSFT) Options