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Fast Money DisclaimerFast Money BiosAbout Fast MoneyRapid RecapFast Money Home
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Jun.22
1:06 PM ET

How are the Fast Money traders gaming this market into the close?

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

BUY APPLE? Apple [AAPL  Loading...      ()   ] said it sold 1 million new iPhones, should you buy?

I think the downside push toward $130 is a buying opportunity, counsels OptionMonster Jon Najarian.

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BUY GOLD? Gold [US@GC.1  Loading...      ()   ] rolled over on Monday; should you buy the dip?

I’d buy closer to the 200-day moving average, counsels Katie Stockton of MKM.

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BUY FINANCIALS? The financials [XLF  Loading...      ()   ] were all trading lower Monday; is it an opportunity to get long?

I’d only look at marquis names such as JPMorgan [JPM  Loading...      ()   ] and Goldman Sachs [GS  Loading...      ()   ], counsels Mike Khuow of Cantor Fitzgerald .

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ENERGY STOCKS? Energy stocks traded lower on a decline in crude prices [US@CL.1  Loading...      ()   ]; how should you play the decline?

I would not short oil ahead of the Fed meeting which could result in further dollar weakness, counsels Fast Money trader Joe Terranova. Instead I’d take a look at Hess [HES  Loading...      ()   ], Petrobras [PBR  Loading...      ()   ] and Suncor [SU  Loading...      ()   ].

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BUY OR SELL INTO THE CLOSE

Najarian: I think the broad market goes lower.

Stockton:
I think there's room for an oversold bounce, so I'd be a buyer for a few days.

Khuow:
I'm a buyer of stocks when they pull back as they're doing now.

Terranova:
With little rotation left for stocks, I'm a seller.


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Trader disclosure: On June 22nd, 2009, 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), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (BAC), (BX), (EEM), (FCX), (FITB); Finerman Owns (TBT); Finerman's Firm Owns (FL), (MSFT), (PBR), (RIG), (NOK), (TBT); Finerman's Firm Owns (WFC) Preferred, (BAC) Preferred; Finerman's Firm Is Short (BAC), (WFC), (IJR), (MDY), (IWM), (SPY), (USO); Finerman's Firm Owns (WMT); Finerman's Firm Is Short (XRT); Terranova Owns (SDS), (TER), (XBI), (BTU), (ABT), (MSFT), (HES), (BTU); Terranova Is Short (XOM) Call Spreads; Terranova Is Short (OIH) And (OIH) Puts; Terranova Is Short (RIG) And (RIG) Puts; Terranova Is Short (FCX) And Is Short (FCX) Puts; Terranova Is Short (IBM); Terranova Is Short (GENZ) Call Spreads; Terranova Owns (GENZ) And Is Short (GENZ) Calls; Terranova Owns (X) And Is Short (X) Calls; Terranova Owns (MS) And Is Short (MS) Calls; Terranova Owns (DIS) Call Spreads; Terranova Owns (BRCM) And Is Short (BRCM) Calls; Terranova Is Short (IBM) Calls; Terranova Owns (RIMM) And Is Short (RIMM) Calls; Terranova Is Short August Gold Futures; Terranova Is Short August Crude Oil Futures; Terranova Is Short September Crude Oil Futures; Terranova Is Short December 2009 Crude Oil Futures; Terranova Owns December 2009 Crude Oil Futures; Terranova Is Short December 2011 Crude Oil Futures

© 2009 CNBC.com

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