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Qunit Tatro, Founder And President of Tatro Capital joins the panel for this conversation. Following is a synopsis of his main points.
The Market
Chart: S&P 500 [.SPX
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Analysis: We could be seeing a double bottom forming in the short term – but I recommend selling any rally, counsels Tatro. The trend lines suggest to me the S&P is ultimately going lower.
The Sells:
Chart: P&G [PG
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Analysis: This isn’t your father’s recession, says Tatro. The chart suggests this may not be a safe place to hide, and I think it’s because commodity prices are climbing.
Chart: Campbell Soup [CPB
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Analysis: This stock broke down and may be working on another leg lower, Tatro says.
The Buys:
Chart: Chesapeake Energy [CHK
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Analysis: Recently broke out of a 3-year base, says Tatro and could be a buy on any pull back.
Chart: Joy Global [JOYG
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Analysis: JOYG could be coming close to mulit-year break. It’s a buy if it breaks higher, he says.
To see the charts used in this analysis please watch the video.
Read More:
Check out what Tatro told the panel on Monday Feb. 11th the last time he was on Fast Money in Technicals & Turbulence
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Trader disclosure: On Mar. 7, 2008, 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 (BIIB), (BKC), (C), (CSCO), (MS), (MSFT), (XLF), (YHOO), (AAPL); Najarian Owns (COP) Calls, (BHI) Calls, (AMAT) Calls; Seymour Owns (BX), (CFC), (F), (HAL), (MER), (MSFT), (SBUX), (TSO), (AAPL), (INTC); Seygem Asset Management Owns (EEM); Seygem Asset Management Is Short (FXI); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (TSO), (WMT), (YHOO), (FNM), (AAPL), (MO), (AEO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts
Tatro Owns (ADM), (UNG); Clients Of Tatro Own (SPY)
Data is a real-time snapshot *Data is delayed at least 15 minutes