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Fast & Furious Trades For Tuesday

Monday, 18 May 2009 | 6:09 PM ET

Following are the “Fast & Furious” trades - hot ways to play tomorrow's market moving events.

REBOUND CONTINUES? After the Dow's point surge, will the rebound continue into Tuesday?

I don't feel compelled to chase it, says Karen Finerman.

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HOLLA AT HOME DEPOT? Home Depot reports earnings before the bell and after Monday’s surprise beat by Lowe's, should you consider buying this home improvement name?

I expect HD to have a great report, says Sanford Bernstein analyst Colin McGranahan. I think the stock goes up as a result.


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KEY HOUSING DATA: Well get another glimpse into the housing market with the release of housing starts. Economists are expecting a reading of 527,000 up from last month's reading of 510,000.

It feels like we found a base around 500,000 but I don't think it goes much higher, speculates Tim Seymour.


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SAKS SAGGING: High-end retailer Saks reports earnings before the bell; a loss of 26 cents is expected.

High-end retail is a tough place to be, muses Jeff Macke.


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COMMISSIONS FOR CHARITY: Also on Tuesday, BTIG will hold it’s 7TH Commissions For Charity Day. If you direct your trades to BTIG a portion will go to charity.



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Trader disclosure: On May 18th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (BX), (EEM), (FCX), (INFY), (PBR), (TTM); Macke Owns (AAPL), (WFC), (AGU), (GE), (SKF), (SDS); Finerman's Firm Owns (PBR), (RIG); Finerman's Firm Owns (BAC) Preferred; (WFC) Preferred; Finerman's Firm Is Short (BAC), (WFC); Najarian Owns (AMD) Calls; Najarian Owns (APC) CAll Spread; Najarian Owns (BBY) Put Spread; Najarian Owns (BP) Call Spread; Najarian Owns (BX) Calls; Najarian Owns (FAS) Call Spread; Najarian Owns (INTC) Calls; Najarian Owns (HPQ) Put Spread; Najarian Owns (MOS) Call Spread; Najarian OWns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Calls

For McGranahan:
Bernstein Owns (AZO)
Bernstein Owns (HD)
Bernstein Owns (LOW)
Bernstein Owns (WSM)
Bernstein Makes A Market In Shares of (BBBY)
Bernstein Makes A Market In Share of (SPLS)

  Price   Change %Change
DJIA
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HD
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SKS
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