Fast Trades Into Tuesday'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 APOLLO? Shares of the Apollo Group soared on Tuesday after the company reported better than expected results; should you get in?
I would leave it alone, counsels Jim Iuorio of TJM. I don’t think it’s indicative of a larger trend.
BUY AMAZON: Cowen & Co upgraded Amazon but the stock is down; should you buy?
Long-term I like Amazon, says OptionMonsterJon Najarian, but I’d wait for a pullback below $80.
BUY DOLLAR? The dollar traded higher as we closed out the quarter; how should you play it?
I do not like the dollar at all, counsels Mike Gurka of Empower Global. I would play it short against a basket of currencies.
BIOTECH: Biotech shares are trading to the downside on Tuesday; should you buy into the weakness?
Yes, says Fast Money trader Joe Terranova, I’d play it with the XBI. Both the technicals and fundamentals support a move higher.
TRADE TO GO: OIL
Fast Money trader Joe Terranova suggests watching oil . Based on the latest reversal I’d be flat, he counels.
CALL THE CLOSE
Joe Terranova: I’m a seller.
Jim Iuorio: I’m a seller.
Jon Najarian: I’m a buyer ahead of the ADP report.
Mike Gurka: I’d buy on the weakness.
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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