RECENT POSTS
- Special Feature: Wall Street History - How Wall Street Got Its Name
- Your First Move For Monday February 13th
- Gene Munster Expects Apple Growth, Dividend
- Follow Leon Cooperman into RIM, Halliburton?
- LinkedIn CEO Calms Post-Lockup Concerns
- Anthony Scaramucci: S&P 500 Stocks Still Cheap
- Your First Move For Friday February 10th
- Home Builder Optimism Up, Industry Expert Says
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the latest show here.
HEDGE FUND TRADE OF THE WEEKWhich names are generating the most chatter across the hedge fund community this week?
CALL TO THE FLOOR | CEO EXTRACheck out our library of CEO interviews; conversations from TV as well as web exclusives.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTS
Download 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 SLIDESHOWS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up for our daily newsletter!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
Chartology: Is The Bottom In
 |
And the Fast Money traders told you the bottom won’t be in until the Street is bloody from stocks that have been slaughtered. Wait again, this week the Dow experienced it’s worst one day sell-off, ever.
That means we have panic and blood. So, is the bottom in?
For insights we turn to Oppenheimer chief market strategist Carter Worth. Following is a synopsis of his technical analysis.
----------------------------
CARTER'S MARKET OUTLOOK
As you can see from the chart, “there’s big volatility in this market and big volatility never happens in the middle (of a cycle). By all accounts big volatility only comes at the top or the bottom,” Worth says. And this certainly isn't the top. "I'm not saying to immediately run out and buy stocks but I'd lean off the short petal."
----------------------------
CARTER'S SELL: TRANSPORTS
Patterns in this chart suggest to Worth that transports are a sell. Although the Dow has come back to its highs and global markets have come back to their highs, the transports have not. “I would get out of the rails including Union Pacific (UNP), Burlington Northern (BNI) and Norfolk Southern (NSC), he says as well as trucking stocks such as JB Hunt (JBHT) as well as Ryder (R). And underweight the package haulers like FedEx (FDX) and UPS (UPS)."
----------------------------
CARTER'S BUY: INTERNATIONAL PHARMA
Patterns in these charts suggest that U.S. Pharmaceuticals are stuck in a downtrend, but international drug companies could be forming a bottom. “AstraZeneca is showing a major bearish to bullish reversal,” Worth says. The same could be true for Novartis.
To see Carter Worth's complete technical analysis please watch the video.
- Special Feature: Wall Street History - How Wall Street Got Its Name
- Gene Munster Expects Apple Growth, Dividend
- LinkedIn CEO Calms Post-Lockup Concerns
- Anthony Scaramucci: S&P 500 Stocks Still Cheap
- Home Builder Optimism Up, Industry Expert Says
- Chart Patterns Suggest Pullback at Hand
- UPDATE: Massive Trend Just Getting Underway in Financial Services: Finerman
- Terranova: Beware Nuance Play On Apple Spike
- Top Fashion Stocks for 2012
- Pros Bullish On Visa, Even After It Hits a New High
______________________________________________________
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 your e-mail to .
Trader disclosure: On Oct.1, 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), (WMT), (HAS), (UUP); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (WB); Najarian Owns (AAPL) And (AAPL) Puts; Najarian Owns (BIIB) Calls; Najarian Owns (GS) Call Spread; Najarian Owns (MS) And (MS) Puts; Najarian Owns (NCC) Calls; Najarian Owns (XLF) Call Spread; Terranova Owns (MA), (AAPL), (EOG), (FCX), (FTO), (GS), (KOL), (NOV), (POT), (X), (VLO), (YHOO); Terranova Owns (MS) And Is Short (MS) Call; Terranova Owns (AIG) And (AIG) Puts
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (CNW), (OFC), (DLM), (DRH), (DLR), (EPR), (EXR), (FL), (SLB), (LNET), (MAC), (DBC), (DBV), (SKT), (UA), (BLV), (VV), (CLB), (GWX), (IGE), (FSMXX); Virtus Investment Partners Owns More Than 1% Of Shares Of Incitec Pivot Ltd.; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.; Virtus Investment Partners Owns Seagate Tax Refund Rights; Virtus Investment Partners Owns Seagate Technology Tax Refund Rights
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
GE Is The Parent Company Of CNBC
Data is a real-time snapshot *Data is delayed at least 15 minutes
