RECENT POSTS
- Your First Move For Monday November 16th
- Web Extra: Where Will The Next Bull Come From?
- Burned by Yahoo!, Disney and More
- The Latest Picks That Paid – Friday November 13th
- Pops & Drops: Dow Chemical, Macy's...
- Chartology – Can Stocks Break Above 1100?
- Fast Action: Using Options To Play Housing Bottom
- Bold Call Of The Day – Microsoft
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
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 
 |
Coming back from a 90 point loss after a much worse than expected loss from Freddie Mac, the Dow rebounded as U.S. stocks hit a six-week high. The trend of health & personal care stocks doing well in this market continues.
AUGUST 6TH RECAP
- Better Energy Play: Futures or Equities?
- Forget Freddie, The Bottom May Be In
- Back To School Bounce For Retailers?
- Commodity-Related Stocks Starting To Show Cracks
- What The Charts Are Saying About Stocks
- Pops & Drops: News Corp, CarMax & The Mile High Club
- The Good And Bad of Dell
- Schein-ing Through A Rough Economy
- Web Extra: The Trade On Blackstone & Whole Foods
- Your First Move For Thursday August 7th
Guy Adami thinks the bottom is in for the short term. "They wanted to sell financials today. They wanted to sell Merill Lynch, and they didn't do it." said Adami.
Jeff Macke believes Freddie Mac gave lots of excuses for the market to sell financials, but when asked if he was a bull responded "Ehh, not really".
Karen Finerman cautions that there is still a lot of market noise going on.
Joe Terranova liked what we saw today in the consumer discretionary sector, materials, and highlighted the move upward for Research In Motion [RIMM
Loading...
()
] as having some cause to be optimistic about.
-------------------------------
CISCO LEADING THE TECH CHARGE
The tech sector rose with Cisco [CSCO
Loading...
()
] leading the way. A top UBS analyst expects a massive Microsoft share buyback could be completed soon.
Finerman wouldn't buy Microsoft [MSFT
Loading...
()
] based upon expectation of a buyback as she feels the buyback would close the door on a Yahoo deal, and believes that Microsoft isn't ready to do that yet.
Macke saw some nice news in tech today, but it wasn't screaming higher. He attributes the move as being more technically based and bounce backs.
Adami is not bullish on Cisco here.
Terranova loves technology right now. He believes tech doesn't have the contagion that financials have.
During a discussion on Sybase [SY
Loading...
()
], Macke added that "he hadn't thought of them since the tech bubble burst". He doesn't want to go long on Sybase.
-------------------------------
OIL FALLS 20% FROM HIGH
As oil entered bear market territory, Terranova revealed that he had no current positions in oil, but was instead focused on undervalued oil affected equities. He is long on Valero [VLO
Loading...
()
], and long on a transport. The integrated names are attractive to him. He also recommended looking at possible plays in Petrobras [PBR
Loading...
()
], Conoco Phillips [COP
Loading...
()
] and Suncor Energy [SU
Loading...
()
].
Adami feels that Exxon Mobil [XOM
Loading...
()
] is a good looking stock at current levels and says you can buy Exxon right now.
Finerman believes Sunoco came out with good earnings and was up today, which should bode well for Exxon Mobil. However, she's not more inclined to go long on the integrated oil names, but prefers some of the refiners.
Macke says "Yuck to the whole group!" and added that Exxon Mobil's chart looks like "grim death".
-------------------------------
FREDDIE MAC PLUNGES
With worse than expected earnings and a not so reassuring interview with the company's CEO Dick Syron, what's there to make of Freddie Mac [FRE
Loading...
()
] and this space.
Finerman doesn't understand the plan at Freddie.
Macke recommended that Karen Finerman could be the CEO, saying that Dick Syron doesn't know the plan either.
-------------------------------
NASDAQ HELPS LIFT THE NASDAQ
The NASDAQ exchange showed some signs of life today led by NASDAQ OMX [NDAQ
Loading...
()
] (ironically).
Adami likes the valuation on NASDAQ compared to the other exchanges. However, he said he cannot recommend buying the stock.
Terranova prefers to be long in the CME Group [CME
Loading...
()
].
-------------------------------
SONY BETS ON MUSIC
Sony [SNE
Loading...
()
] plans to buy Bertelsmann's 50% stake in Sony BMG gaining control of the world's second largest record company.
Macke found a couple of positives to say on the acquisition. He thinks maybe it makes sense for Sony, and maybe they got a value.
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .
On Aug 6, 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 (MSFT) (IMAX) (COST) (WMT), Macke Is Short (TM), Finerman's Firm Is Short (IYR) (IJR) (SPY) (MDY) (IWM),Finerman's Firm Owns (ANF) Call Spread, Finerman's Firm And Finerman Own (C) Leap (FLS), Finerman Owns (GS), Finerman's Firm Owns (MSFT) (SUN) (TSO) (VLO), Finerman's Firm Is Short (XLF) (BBT) (COF), Adami Owns (AGU) (C) (BTU) (GS) (INTC) (MSFT) (NUE), Terranova Owns (YHOO) (CME) (SA) (VLO) (KOL) (RIMM) (IYT) (GOOG) (SU) (FCX) (INTC) (XLF) (BNI), Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd., Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO Phoenix Investment Partners Owns More Than 1% Of (ABD) (ARE) (BRE) (CNTY) (CLB) (OFC) (DLR) (ESS) (EXR) (FL) (IAT) (IGE) (LNET) (MAC) (OIIM) (PSPT) (DBC) (DBV) (SLB) (SKT) (BLV), Phoenix Diversifier PHOLIO Owns (IGE) (DBC) (DBV), WIDGET EXTRA: Terranova's Firm Owns (X), Brad Hintz Owns (MS) (CME) (ETFC) (RJ) (AMTD), Accounts Over Which Bernstein And/Or Affiliates Exercise Investment Discretion Own More Than 1% Of (GS), (LEH), (MER), (MS) (GS), (LEH), (MER), (MS) Are Or In Past 12 Months Were Non-Investment Banking Clients (Securities Related Services) Of Bernstein, Which Received Compensation, An Affiliate Of Bernstein Received Compensation For Non-Investment Banking-Securities Related Services From (GS), (LEH), (MER), (MS)
Data is a real-time snapshot *Data is delayed at least 15 minutes