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Your First Move For Wednesday June 18th

Here’s our Fast Money Final Trade. Our gang gives you tomorrow’s best trades, right now.

Jeff Macke recommends trimming your position in Activision .

Guy Adami suggests getting long Memc Electronics .

Joe Terranova prefers the rails and says to look at Burlington Northern .

Pete Najarian thinks Energy Conversion Devices is a buy at $70.

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.


MORGAN STANLEY EARNINGS: Reaction to Goldman’s earnings appeared muted in anticipation of possible writedowns from Morgan Wednesday.

If Morgan Stanleystock dips below $39 it’s a buy, says Pete Najarian.

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FEDEX EARNINGS: The bellwether of economic activity already cut its guidance and now investors will be eyeing FedEx’s ability to pass on higher oil costs in the form of price increases.

I like FedEx at $82, says Guy Adami.

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OIL SUPPLY REPORT: The EIA's weekly crude inventory report will be released Wednesday.

I think oil could go as high as $140 ahead of Sunday’s meeting with Saudi Arabia. That would make it easier for them to lower the price and they could look like the hero.

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CARMAX EARNINGS: The seller of used cars, which counts Warren Buffett as one of its investors, reports before the bell.

Walk away from Carmax , says Jeff Macke.

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AIRLINES SPEAK: All of the major carriers will be speaking Wednesday at the Merrill Lynch Global Transportation Conference.

It doesn’t matter what they say the airlines are an energy trade counsels Guy Adami.

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PEPSI SPEAKS: The soft drink company's CFO Richard Goodman will present at the Deutsche Bank Global Consumer & Food Retail Conference in Paris.

Corn prices will probably start impacting Pepsi, says Pete Najarian.

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MORTGAGE APPLICATIONS: The Mortgage Bankers' Association publishes its weekly mortgage application data; last Wednesday's results showed an 11% increase on the previous week.

I’m not expecting it to look good, says Joe Terranova.

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Trader disclosure: On June 17, 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 (AGU), (C), (BTU), (NUE), (GS), (INTC), (MSFT); Macke Owns (INTC), (MSFT), (ATVI), (WMT); Najarian Owns (AAPL), (BHI), (CHK), (TSO), (XLF), (MYGN),(ENER); Najarian Owns (MS) Puts, (BAC) Puts; Terranova Owns (LUV), (FXC); Terranova Is Long Dec 2008 Crude Oil; Terranova Is Short Dec 2009 Crude Oil

Terranova is chief alternatives strategist at Phoenix Investment Partners; Phoenix Investment Partners Ltd. Owns (RWX), (DBC), (DBV), (IGE), (AAI), (ALK), (AMR,) (APA), BP plc, British Airways plc, (CHK), (CVX), (COP), (CAL), (DAL), ENI SPA, (XOM), Gazprom, (HA), (HES), (HOC), (HSE), (JBLU), Lukoil, (MRO), (MUR), (OXY), Petrobras Intl Fin, Petro-Canada, (PBR), Petroleos De Venezuela, (QAN), (RJET), Royal Dutch Shell plc A Shares, (SKYW), (LUV,) (SU), (TSO), Texaco Capital, Total SA, (UAUA), (LCC), (VLO)

Symbol
Price
 
Change
%Change
ATVI
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FDX
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KMX
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MS
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PEP
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SUNE
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