RECENT POSTS
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 
 |
HALFTIME REPORT: Is This The Pause That Refreshes?
With nearly 150 more companies due to flood the Street with earnings, the bulls appear to be getting a little tired.
On Monday profit-taking weighed on such hard-charging stocks as Apple [AAPL
Loading...
()
] as investors looked for fresh catalysts to justify further equity gains. Also worries about the outlooks for Aetna [AET
Loading...
()
], Honeywell [HON
Loading...
()
] and Verizon [VZ
Loading...
()
] dragged down sentiment despite hints the housing market may be stabilizing.
Is this the pause that refreshes or are investors growing concerned?
Instant Insights from the Fast Money Traders
The fact the market had been rallying hard and then new homes sales show strength and we still turn lower says to me it’s time to do some selling, counsels Fast Money trader Joe Terranova. It doesn’t mean the rally is over but we’re moving momentum.
I also expect to see some profit taking right now, adds OptionMonster Jon Najarian.
The next move looks to be lower to me as well, says Katie Stockton of MKM Partners. About 75% of the S&P 500 is overbought.
------
OPTIONS ACTION: HOMEBUILDERS
Meanwhile, new data hinted that the housing market may be stabilizing. A report shows that that sales of new single-family homes in the United States rose more than expected in June, while the inventory of homes for sale fell to a more than 11-year low, gave the market a brief early boost.
What’s the trade?
Standard Pacific [SPF
Loading...
()
] is up 45% in the past 5 days, explains Jon Najarian. If you hold this name I’d be a seller.
Or if you own stocks in the entire sector I’d also own downside puts for protection, adds Mike Khouw of Cantor Fitzgerald.
------
AETNA PROFIT PLUNGES
Aetna [AET
Loading...
()
], the No. 3 U.S. health insurer, cut its full-year earnings outlook due to higher-than-projected medical costs and posted a 28 percent drop in second-quarter net income. The stock slid 5.1 percent to $25.08
What’s the play?
It seems to me that Aetna is tethered to its 200-day moving average, says Katie Stockton. Monday’s move is pretty meaningless on the chart.
I’d let it fall further before taking a position, counsels Jon Najarian.
This isn’t a stock I’d touch either until it moves down to $20, echoes Joe Terranova.
------
TAKE YOUR POSITION: AMGEN
Shares of Amgen [AMGN
Loading...
()
] traded lower ahead of earnings, Monday after the bell. With the stock up 14% for the month, should you buy the weakness.
I’m a buyer, says Joe Terranova, but not necessarily ahead of earnings. But I do like the fundamental and technical strength of this name.
------
CHART OF THE DAY: OIL
Oil prices [US@CL.1
Loading...
()
] steadied above $68 a barrel on Monday on hopes that strong U.S. homes sales signaled the strength in the economy.
| ||
Also, a Reuters poll of analysts forecast world oil consumption would rise next year for the first time in two years on expectations of a rebound in the global economy.
U.S. crude traded up 4 cents at $68.09 a barrel by 12:04 p.m. EDT, after earlier hitting $68.99, the highest since July 2.
What’s the trade?
It seems to me that crude is overbought in the short-term, counsels Katie Stockton. I wouldn’t be a buyer until it pulls back.
Oil is clearly challenged, adds Joe Terranova. The CTC begins hearings on Tuesday about tighter regulations on speculators. That will probably keep the rally under control.
------
EURO HITS 7-WK. HIGH VS. DOLLAR
The euro hit a seven-week high against the dollar [UUP
Loading...
()
] on Monday, buoyed by rising equities and oil prices as investors took on risky trades due to ongoing optimism about the outlook for the global economy.
What’s the currency trade?
If I were to be a buyer of currency, I’d buy the currencies of countries that mine materials, counsels strategic investor Dennis Gartman. Look at Canada’s dollar or Australia’s dollar.
- Halftime Report: Dubai - First Ripple Of Larger Crisis?
- Your First Move For Friday November 27th
- Web Extra: Private Equity, Conviction Buy?
- Pops & Drops: Abercrombie & Fitch, Nucor...
- Giving Thanks: Seymour
- Your Questions About... Alcoa & The Dollar
- Best Wishes Regis
- Gartman's Annual Rules For Trading
- Chartology: December Outlook
- Holiday Toy Trades
______________________________________________________
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 .
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes