FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our
"Question of the Day" right now.
TRADER RADAR Which stock should be on your screen? Follow the clues to solve this puzzle.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
EMERGING MONEY TOP 20
Fast Money's index for the world.
FAST MONEY PODCASTSDownload Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
 |
The headline: Crude Oil Sheds 3.7% This Week To Close At $127.35.
Oil prices rose to over $127 a barrel on Friday as a drop in the dollar drew in investors seeking to hedge against the weaker greenback. However it was Thursday's $4 drop that suggested to some analysts that the bullish momentum which had pushed prices over $135 as recently as one week ago may be running out of steam.
All eyes will be on the crude trade again next week with some wondering if crude could fall as low as $120 an important technical level.
I think next week could be the biggest week for commodities in the last couple of years, says Guy Adami. After the run-ups in crude and gold, I think we could be setting up to unravel.
Also, the S&P [.SPX
Loading...
()
] is at a technically important level, adds Jeff Macke. Right now I’m a seller of the S&P with a tight stop above 1410. Technically the trade is short because we managed to rally but not break out. As for crude, I don’t think it will break lower but I also think next week will be very telling.
On a different note, oil companies have to find more oil, says Pete Najarian. I’m interested to hear what Baker Hughes [BHI
Loading...
()
] and Transocean [RIG
Loading...
()
] say at an RBC energy conference next week.
------------------------------------
DELL CAPS STRONG WEEK FOR TECH
The headline: Tech Stocks Finish Week On Strong Note After Dell Tops Profit.
Stronger-than-expected earnings from computer maker Dell [DELL
Loading...
()
] sent the stock surging on Friday and lifted the broad technology sector. The unexpectedly high quarterly profit was driven by cost cuts, overseas demand and strong sales of notebook computers.
I like Dell, adds Guy Adami, but don’t rush into it at these levels. Wait for a pull back.
Hold on, counters Pete Najarian. I see upside in this stock
Sell Dell into the strength, says Jeff Macke. And take a closer look at Cisco [CSCO
Loading...
()
] and Intel [INTC
Loading...
()
]. Overall I think tech looks like the best sector for a while.
------------------------------------
CONSUMER CONUNDRUM
The headline: Tiffany, Costco Beat Earnings Estimates Even As Consumer Confidence Hovers At 28-Year Low.
U.S. consumer confidence fell to a 28-year low in May on soaring inflation expectations, while spending and price growth moderated last month, reports showed Friday. The data heightens the dilemma facing the Federal Reserve, which has loosened monetary policy to cushion the economy while betting the slowdown would put the squeeze on inflation
It’s interesting to see that both Tiffany [TIF
Loading...
()
] and Costco [COST
Loading...
()
] beat estimates in this environment, says Karen Finerman. I’d play TIF because they benefit from the dollar weakness.
Amen sister, exclaims Jeff Macke.
------------------------------------
J. CREW PLUNGS 20%
The headline: J. Crew Tumbles 20% After Slashing Full-Year Earnings Forecast
J Crew [JCG
Loading...
()
] cut its full-year earnings outlook and its stock fell 15 percent as the high-flying retailer showed it was not immune to weak U.S. consumer spending. The upscale clothing company headed by Wall Street darling and former GAP Inc CEO Mickey Drexler also posted disappointing same-store sales for the first quarter.
The P/E is 20 explains, Karen Finerman. I think this stock is a little rich. I’d be a buyer at $35.
I’d dip my toe here, counters Guy Adami, I don’t know that you’re going to see $35.
------------------------------------
SUBPRIME IN YOUR BACKYARD
The headline: Regional Bank Sell-Off Continues Following KeyCorp Warning Wednesday.
KeyCorp dropped 12% Wednesday after underestimating its exposure to bad loans. Other regional banks were dragged down with it as investors feared that the problem might not be isolated.
I wouldn’t get into this area, says Karen Finerman. Why take unnecessary risk. I’d look at Citigroup [C
Loading...
()
] instead.
I agree, says Jeff Macke. In financials stick with the big guys.
Watch JP Morgan [JPM
Loading...
()
], counsels Guy Adami. I think it sets up nicely.
Don’t forget to buy puts, adds Pete Najarian. This is a space where you definitely want protection.
------------------------------------
WHALE WATCHING: KIRK KERKORIAN
The headline: Kirk Kerkorian Affirms $8.50-Per-Share Tender Offer For Ford Shares Despite Recent Plunge In The Stock.
Billionaire investor Kirk Kerkorian will move ahead with his tender offer for Ford [F
Loading...
()
] shares despite a recent slump in the No. 2 U.S. automaker's stock, pushing shares up as much as 3 percent. Kerkorian disclosed last month that he bought 100 million shares of Ford at an average price of $6.91 and planned to buy an additional 20 million shares, which would raise his stake to about 5.5 percent.
Remember he’s not bidding for the entire company just a stake, says Karen Finerman.
I’m not a Kerkorian fan right now, scoffs Guy Adami.
------------------------------------
'CLIFFS' NOTES
The headline: Harbinger Capital Has Amassed 15.3% Stake In Miner Cleveland-Cliffs.
Mining companies have been off to the races this year as investors bet that domestic weakness won’t drag down global demand. And the run may have only just begun.
According to Barron’s, “On May 22 and 23, Harbinger Capital purchased 1.1 million shares of Cleveland Cliffs [CLF
Loading...
()
] for $102 million, an average of $92.75 a share. Harbinger, a subsidiary of Birmingham, Ala.-based Harbert Management, now owns 13.9 million shares of Cleveland-Cliffs, a 15.3% stake.”
In addition, keep an eye on Exxon [XOM
Loading...
()
] says Pete Najarian and SandRidge