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Fast & Furious Trades For Tuesday

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

FED MEETING: The Fed kicks off a 2-day policy meeting and investors will be looking for reassurance that the Fed has a close eye on inflation but still willing to withdraw the flood of money before it causes trouble.

I'd love to hear that the Fed is anchoring rates at these historically low levels, says Joe Terranova.



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ORACLE REPORTS: Tech giant Oracle reports earnings after the bell Tuesday; how should you trade it?

I think Oracle beats on earnings and guides in-line with expectations, says Brendan Barnicle of Pacific Crest. However I don't think it rallies into the numbers. (In case you're wondering Barnicle has an Outperform rating on this stock.)

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CASUAL DINING:Darden Restaurants reports earnings after the bell Tuesday; a profit of 86 cents is expected, a 10% increase year over year.

If you can buy this stock at $32.50 jump in, counsels Guy Adami.

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EXISTING HOME SALES: Well get a glimpse into the state of housing with the release of existing home sales for May. Economist are expecting an uptick to 4.82 million units from the previous reading of 4.68 million.

I don't love the homebuilders , reveals Tim Seymour. As far as I can see, people are not yet in a position to buy.


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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

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