Fast Trades Into Wednesday's Close
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 GOLD: Gold traded higher ahead of the Fed meeting results, should you buy?
I’m a buyer, counsels Jared Levy of Peak6. And I’d play it by selling the GLD 88 put in July and buying the stock lower.
BUY OIL? With oil looking for a direction after the latest round of government data, should you get in?
I think oil falls to $63.50, counsels Addison Armstrong of Tradition Energy.
BUY NIKE?Nike reports earnings after the bell Wednesday, should you get in ahead of results?
If we see any sell-off, I’m a buyer, counsels OptionMonster Jon Najarian.
BUY FCX?Freeport Mc-MoRan traded higher after getting an upgrade at FBR, should you follow suit and buy?
I’m long calls, reveals Fast Money trader Tim Seymour, but in the short-term there could be risk.
CALL THE CLOSE
Are the Fast Money traders buyers or sellers ahead of the close?
Addison Armstrong: On weakness I’m a seller of crude.
Jon Najarian: With auctions still going well, I like the action and I’m a buyer.
Jared Levy: I’m a moderate seller.
Tim Seymour: I’m sitting tight.
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Trader disclosure: On June 24th, 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); Finerman's Firm Owns (MSFT), (WMT); Firm Is Short (WFC); Finerman's Firm Is Short (IWM), (SPY), (MDY), (IJR), (USO); Finerman's Firm And Finerman Own (BAC) Preferred Shares, Finerman's Firm Is Short (BAC); Finerman's Firm And Finerman Are Short (WFC) Preferred Shares, Finerman's Finerman's Firm And Finerman Own (FLS); Jon Najarian Owns (AAPL), (BRK.B), (JPM), (MS), (RIMM), (WFC), (WMT), (YHOO); Jon Najarian Is Short (AZO); Terranova Owns (TER), (XBI), (BTU), (ABT), (RIMM), (HES), (MS), (MSFT)
Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV), (ABD); Virtus Investment Partners Owns More Than 1% Of (ABD), (CAL), (CLB), (DLR), (EPR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (UA), (WBMD); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co