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Jeff Macke recommends getting long Pier 1 [PIR
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] because it’s so beaten down.
Pete Najarian thinks Rambus [RMBS
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] is a buy on recent options action.
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And if you’re playing CNBC's Million Dollar Portfolio Challenge the traders have some high risk / high reward trades just for you.
Jeff Macke suggests getting long Fresh Delmonte [FDP
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Guy Adami says to look at Ambac [ABK
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] or UltraShort Oil & Gas ProShares [DUG
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Joe Terranova recommends shorting Green Mountain [GMCR
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] and getting long Starbucks [SBUX
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] against it.
Pete Najarian likes American Airlines [AMR
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] as a bet against oil.
But that’s not all. Following are the “Fast & Furious” trades. Yes, now we bring you even more Fast ways to trade tomorrow's market moving events.
GOLDMAN EARNINGS: All eyes are on Goldman [GS
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]which reports earnings Tuesday before the bell.
Sell at the open, counsels Pete Najarian.
Read More:
> To see Guy Adami’s Goldman trade check out “Take Your Position: Financials”
> For Sandler O'Neil brokerage analyst Jeff Harte's earnings expectations please read "Word on the Street"
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BEST BUY EARNINGS: The electronics retailer is expected to post revenue of 8.56 billion, and EPS of $0.37. Analysts think stimulus checks and Wii Fit sales could help sales.
Look at related names in the electronics space, says Jeff Macke, but don't play Best Buy [BBY
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INFLATION DATA: CPI was up on energy prices on Friday. We'll find out if PPI data paints a different inflation story when that data is released Tuesday.
I won’t feel better about inflation until prices at the pump move lower, says Guy Adami.
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HOUSING STARTS: Monday’s NAHB data showed another drop and the homebuilders confidence index is setting up for a disappointing Housing Starts number Tuesday.
I’m looking for the number to be distressed too, says Joe Terranova.
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MATTEL ANALYST MEETING: The toy company's analyst meeting begins at 12 noon Tuesday.
I’d own Hasbro [HAS
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HERSHEY INVESTOR MEETING: The candy company slid sharply ahead of Tuesday’s investor meeting as the chairman of the trust that controls Hershey [HSY
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]voting shares ruled out a sale of the company.
I would avoid this stock, says Joe Terranova.
Check Out These Other Posts |
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Trader disclosure: On June 16, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (NUE), (AGU), (C), (GS), (INTC), (BTU), (MSFT); Macke Owns (ATVI), (MSFT), (INTC), (WMT), (HAS), (DIS); Najarian Owns (AAPL), (BHI), (CHK), (ENER), (HPQ), (TSO), (XLF); Najarian Owns (GME) Calls; Terranova Owns (GS), (LUV), (FXC); Terranova Is Long Dec 2008 Crude Oil; Terranova Is Short Dec 2009 Crude Oil; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC
Terranova is chief alternatives strategist at Phoenix Investment Partners; Phoenix Investment Partners Ltd. Is Long Airtran Holdings, Alaska Air Group, American Airlines, Apache, BP, British Airways, Chesapeake Energy, Chevron, ConocoPhillips, Continental Airlines Delta Air Lines Deutsche Lufthansa, ENI SPA, ExxonMobil Gazprom, Hawaiian Holdings, Hess, Holly Corp. Husky Energy, JetBlue, Lukoil, Marathon Oil, Murphy Oil, Occidental Petroleum, PetroBras Intl. Fin. Petro-Canada, Petroleo Brasileiro S.A., Petroleos De Venezuela SA, Qantas Airways Republic Airways, Royal Dutch Shell, Skywest, Southwest Airlines, Suncor Energy, Sunoco, Tesoro Texaco Capital, Total SA, United Airlines, US Airways Group, Valero Energy
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