Guy Adami thinks there's no more juice in Genentech. Although people may not be getting out of it, he sees little reason to trade on it. With so many designated Biotech hedge funds out there, he thinks the place to look is in Amgen and Celgene , which may be getting more traction, with some money coming out of Genentech.
Karen Finerman is a buyer of Biotech, looking at trades in the IBB or the XBI , as ways of getting more exposure in the sector. She also expects to see more consolidation in the pharmaceuticals industry.
Retail Ex-Auto Sales Up
With new retail data released from the government, shares from major retailers like Wal-Mart and Macy's were given some upward momentum.
However, Tim Seymour points out that the names outside Wal-Mart , which cater to the relatively higher-end consumer were not as fortunate, such as Nordstroms , whic suggests that the consumers are still not able to spend as much as they should.
Guy Adami is looking at Home Depot as an attractive stock, which has a healthy balance sheet and may be undervalued at this point in the game.
In the options arena, Pete Najarian is looking at the SPDR S&P Homebuilders ETF which has seen a dramatic upswing of late, and sees these moves as just the beginning. He also points out that there are other "feeders" into the homebuilders, like Bed Bath & Beyond , Mohawk Carpeting and Rent-a-Center .
Big Oil Names Rebound
After an 11% surge in the price of oil today, closing above $47 per barrel, energy stocks like Chevron and Exxon Mobil got a healthy boost. Guy Adami points out that the stats were incredibly bearish in the oil trade, but the short sellers are getting a little squeezed. With a surprising reversal, Adami expects to see gasoline prices rally, with the price of crude reaching $50 per barrel, if not higher.
With the OPEC meeting coming up this week, Tim Seymour doesn't think the oil producers will be cutting production. He sees opportunities in drillers and refiners, Transocean Inc , Tenaris , Halliburton and Schlumberger .
Gold Higher for a Second Day
Despite the three day market rally, gold was up again today. Guy Adami sees money being put to work at gold, but sees the possibility for the gold trade going lower, especially if equitites continue their upward moves. He sees the gold trade as a bit of a coin flip.
Tim Seymour sees the inflation side of the gold argument. He says that the monetary supply growth is very inflationary and many analysts think that this effect could be felt faster than expected.
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Trader disclosure: On Mar. 12th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (COF) Call Spread, (FCX) Call Spread, (GDX), (GS) Call Spread, (GLD) Put Spread, (GE) Calls, (JPM) & (JPM) Calls, (MS) & (MS) Calls, (MSFT), (X) Call Spread, (XHB) Call Spread; Seymour Owns (AAPL), (T), (BAC), (EEM), (FXI); Finerman's Firm Is Short (IJR), Short (IWM), Short (MDY), Short (SPY), Short (USO), Owns (MSFT), (DNA) Calls, (BAC) Preferred, (WFC) Preferred, (WFC) Preferred, Short (BBT), Owns (RIG), Owns (PBR); J. Najarian Owns (MS), (WFC), (COF), (FAS), Is Short (SKF)
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