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 lastest show here.
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 
 |
On Friday, for the first time since being elected, Barack Obama held a press conference. Although the Dow [.DJIA
Loading...
()
] closed higher, immediately after the speech it started to pull back.
What Didn’t the Market Like?
Most Wall Street watchers agree; Obama said "we only have one president at a time," and until next Jan. 20, the current administration is in charge. According to Maria Bartiromo traders on the floor felt Obama was basically saying I’m not the president yet. When I am, I have plans in place. Until then, you’re on your own.
That quote really struck me too, adds Karen Finerman on CNBC’s “Closing Bell’. In essence he was saying there’s one president and right now its Bush.
Strategy Session: Retail
In addition the market received some sobering news this morning on the jobs front.
Another 240,000 jobs were cut last month as the jobless rate zoomed to 6.5 percent, that’s a 14-year high. What does that mean for the retail trade?
"Normally I love to trade retail [RTH
Loading...
()
] because it’s easy to understand," explains Finerman. "But because job losses will probably grow, the way to play the space is to avoid it."
Strategy Session: Infrastructure
Barack Obama has also promised increased spending on infrastructure. And as a result stocks in the sector have jumped. However, Finerman doesn’t see a momentum play here.
“I’m concerned that it will take too long to implement a big infrastructure plan so in the near-term I would be fading any big rally in the materials sector [XLB
Loading...
()
].”
- Your First Move For Tuesday December 1st
- Web Extra: The Microsoft Trade
- Dubai: Casino Fallout
- Pops & Drops: American Eagle, Amylin
- Bold Call of the Day: Abercrombie
- Chartology – Year End Sell-Off Ahead?
- It's All About Jobs
- Cyber Monday Strategy Session w/ Gene Munster
- Bove: 26 Banks May Need To Raise More Capital
- Stocks Stage Bullish Reversal
______________________________________________________
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 .
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes