Strategy Session with the Fast Money Trader
The first traunch was thrown together and it had to be, says Karen Finerman. But I’m hoping that they learned a little and there are different terms attached to the second traunch. Personally, I’d like to see Bank of America cut the dividend if they receive more money.
There’s only been one good sequel in the history to sequels, bristles Jeff Macke. And that was Godfather II. I wish the senators wouldn’t try and tell us how to run banks. I’d like to see new banks created and run by people who know how to run banks.
I think it’s very unfair of us to sit here and judge the success of the TARP after only 3 months, argues Pete Najarian. And it’s worth noting that when we got down to 818 in the S&P the market turned. And at that very moment institutional investors stepped in and bought the XLF calls. I interpret that as a tradable move.
But we don’t need a trade, counters Jeff Macke. We need confidence in the system.
AFTER HOURS ACTION: INTEL
Intel said it would not provide detailed financial guidance due to economic uncertainty, but gave a first-quarter revenue figure for "planning" purposes that was below average Wall Street expectations.
The world's largest chip maker also reported fourth-quarter earnings per share of 4 cents, meeting Wall Street's lowered expectations after it issued a revenue warning last week.
Shares of Intel initially edged lower in extended trading, but then recovered to trade up 2 percent.
I think the bounce in the stock stems from so much bad news already being baked in, says Pete Najarian.
APPLE COMES ROARING BACK
Shares of Apple closed only modestly lower despite word that CEO Steve Jobs will take a leave of absence till June because of health problems "more complex" than thought.
Boy they did a terrible job with this, muses Karen Finerman.
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Trader disclosure: On Jan. 15th, 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 (APPL), (TM), (MCD), (DIS); Seymour Owns (AAPL), (BAC), (EEM), (F), (INFY), (TSO); Najarian Owns (MSFT); Najarian Own (NVDA) Calls, (XME) Calls, (XLF) Calls; Najarian Owns (CSCO) & (CSCO) Short Calls; Najarian Owns (FCX) Stock & (FCS) Short Calls; Najarian Owns (HSBC) Put Spread; Najarian Owns (PALM) Call Spread; Najarian Owns (XLB) Call Spread; Finerman's Firm Owns (DSX); Finerman's Firm Is Short (VNO), (IYR), (IJR), (IWM), (MDY), (SPY), (USO), (ANF); Finerman's Firm Owns (MSFT) & Put Spreads; Finerman's Firm Owns (DNA) & Call Spreads
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