Fast & Furious Trades: Microsoft, Lilly, Dow...
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Following are the “Fast & Furious” trades - hot ways to play tomorrow's market moving events.
MR. SOFTY GROUPIES
Microsoft’s analyst meeting takes place at company headquarters in Redmond, Washington.
I hope there’s no more bad news out of Microsoft, sighs Karen Finerman.
And that leads to the Charles Schwab Question of the Day!
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MORE ‘FOR SALE’ SIGNS?
Existing home sales data will be released at 10am Thursday.
I don’t expect it to look too pretty, says Joe Terranova.
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PILL STOCKS POP?
Eli Lilly and Bristol Myers Squibb both come out with earnings before the bell.
I’m not looking for too much of a pop from either Lilly or Bristol , says Pete Najarian. Biotech is what's got my eye!
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CHEMICAL REACTION
Dow Chemical faces the double whammy of high crude prices and a slowing economy ahead of tomorrow's earnings.
Dow is all about oil, says Joe Terranova.
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POST-IT PROFITS
3M, a maker of everything from office supplies such as Post-Its to welding equipment and fly-fishing lines, reveals earnings before the bell.
3M had some problems over the last few quarters, says Jeff Macke. I’d be cautious.
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HEARTBREAK HOTEL?
Starwood Hotels, which runs the Westin, Sheraton, and W Hotel chains, also comes out with quarterly results before the bell.
I wouldn’t touch Starwood unless you think it’s getting taken out, says Pete Najarian.
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Trader disclosure: On July 23, 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 (WMT), (COST), (MSFT), (EMC); Najarian Owns (AAPL), (COST), (TSO); Najarian Owns (YHOO) Calls, (CSCO) Calls, (SKF) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (PPH), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY); Terranova Owns (BNI), (CME), (RIMM), (VLO), (SA), (FCX), (GOOG), (INTC), (IYT), (XLF), (SU), (YHOO); Terranova Is Long September Crude Oil $154 Call; Terranova Is Short September Crude Oil $130 Put; Terranova Is Short September Crude Oil $130 Call
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (DBV), (RWX), (LNET), (EXR), (SKT), (DLR), (IGE), (ARE), (DBC), (ABD), (OFC), (CLB), (BLV), (CNTY), (FL), (HPC), (PSPT) ,(ESS), (OIIM), (BIG), (ENG), (PFD), (DRH); Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
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