FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the lastest show here.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTSDownload Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
 |
What a bad way to end a terrific quarter. Both the Dow [.DJIA
Loading...
()
] and S&P 500 [.SPX
Loading...
()
] finished in negative territory on Tuesday after an unexpected drop in consumer confidence cooled optimism about an economic recovery.
But despite the declines it was still Wall Street's best quarter in a decade. For the 3-month period ending June 30th the S&P 500 finished about 15% higher making it the best quarter since 1998!
Quarterly Stats -- Top Sectors:
Financials +43%
Technology +20
Consumer Dis. +19%
Quarterly Stats -- Worst Sectors:
Utilities +11%
Healthcare +10%
Staples +10%
How should you position yourself?
Strategy Session with the Fast Money Traders
Transports [.TRAN
Loading...
()
] were down on Tuesday, explains Guy Adami. They’re now down two-days in a row and I can’t dismiss that. As a Dow theorist I think stocks go lower.
It seems to me the third quarter won’t be nearly as easy as the second quarter, adds Joe Terranova. During the next three months investors will have to be nimble.
I’m mildly optimistic going forward, says Karen Finerman, but it seems to me the market has been wildly optimistic. I really want to see what the financial firms have to say when they report earnings in July before I can get terribly excited.
------------
BANKS: BAD DAY
Investors took profits in the sector that ended as the quarter’s best performer. Financials [XLF
Loading...
()
] finished the day lower lower with JPMorgan [JPM
Loading...
()
] and Goldman Sachs [GS
Loading...
()
] both in negative territory.
In the space, I’m keeping an eye on Goldman , says Guy Adami. Although I think they report a strong quarter I would not own this stock at these levels. Instead I’d wait for a pullback into the $130’s. Same thing for Jeffreies [JEF
Loading...
()
] , he adds. I’d wait for a pullback to $18.50.
I think Goldman Sachs will report earnings that are staggering, says Pete Najarian defiantly. I’m bullish on Goldman as well as Morgan Stanley [MS
Loading...
()
] and JPMorgan [JPM
Loading...
()
].
And another name that has outperformed this quarter is Blackstone [BX
Loading...
()
], he adds. Around $10 I think it’s an interesting stock.
------------
OIL: GREAT QUARTER, BAD DAY
Oil finished the quarter up a whopping 41% making it the best 3-month period for crude since 1990.
| ||
What’s the oil trade?
An overnight reversal in crude made me a little bearish, explains Joe Terranova. However I think the trade is flat – not short. If you’re looking for a long trade, I’d look at the integrated names which have seemed to lag.
If the OIH [OIH
Loading...
()
] trades down to $90, I think it’s a buying opportunity, adds Guy Adami. And if you’re an aggressive trader I think it’s okay to short crude.
I’m short the USO [USO
Loading...
()
], reveals Karen Finerman but not as a bet on lower crude prices — rather as a hedge to my oilfield services exposure.
------------
OTHER ASSET CLASSES
With the dollar and Treasurys making headlines over the last 3 months, how should you play them going forward?
I think it’s still a smart bet to expect inflation, says Karen Finerman. I’d be long the TBT [TBT
Loading...
()
].
Quite frankly it wouldn’t surprise me to see a spike in the dollar [UUP
Loading...
()
], adds Guy Adami, if for no other reason than nobody expects it.
------------
THIRD QUARTER OUTLOOK
Considering the S&P ended the quarter about 15% higher, how should you position yourself going forward. For insights we turned to strategic investor Dennis Gartman, author of The Gartman Letter.
Gartman’s Ways To Play
Buy Energy
Short Bonds
Stay Out Of Gold
*Due to technical difficulties during the taping of this segment we were unable to recap it in its entirety. For more please watch the video.
- Your First Move For Wednesday November 25th
- Web Extra: Seymour's M&A Play
- Pops & Drops: American Eagle, Green Mountain Coffee...
- Giving Thanks: Najarian
- Take Your Position: Cyber Monday
- Rick's Turkey: Fed Transparency
- Under The Radar Trades
- Our Best Black Friday Trades
- GDP Drags Stocks Lower
- Halftime Report: Is Oil Heading To $96?
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to .
Trader disclosure: On June 30th, 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 (C), (GS), (BTU), (AGU), (INTC), (MSFT), (NUE); Terranova Owns (TER), (RIMM), (MSFT), (XBI), (ABT); Finerman Owns (RIG); Finerman's Firm Own (NOK), (PBR), (RIG), (WMT), (FCN), (TBT), (ELX); FInerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Finerman's Firm Owns (BAC) Preferred; Finerman Owns (BAC) Preferred; Finerman's Firm Is Short (IJR), (IYR), (MDX), (SPY), (USO); Najarian Owns (F) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (INTC) & Short (INTC) Calls; Najarian Owns (JPM) & Short (JPM) calls; Najarian Owns (PALM) Call Spread; Najarian Owns (WNR) & Short (WNR) Calls; Najarian Owns (YHOO) Call Spread
Gartman Owns (PBR), (SU), (GS), (LOW); Gartman Owns Gold; Gartman Is Short (CVX), (XOM), (BRK.b)
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes