RECENT POSTS
- Your First Move For Tuesday May 29th
- Chesapeake Should Rally Into $20’s: Pro Trader
- Najarian: Yahoo! a Must Own Stock
- Marc Faber: 100% Chance of Global Recession
- Your First Move For Friday May 25th
- Desperately Seeking Dividend Yield
- Tech Is Trying to Tell You Something: Terranova
- Charts Suggest S&P Revisits Flat on Year: Top Analyst
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 latest show here.
FAST MONEY PODCASTS
Download 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 SLIDESHOWS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up for our daily newsletter!
Text Size 
Two Catalysts Likely To Determine Market Direction
 |
According to Joe Terranova, two catalysts are likely to determine to the market direction, perhaps through the end of October!
I think we’re at an inflection point in the market, says the Fast Money trader. We have ISM and employment numbers coming this week and that will be a “tell.” If we get good numbers and the market does not rally, that will say to me we’re looking at a correction.
So what should you be watching for?
| ||
ISM
Last month ISM, a key measure of manufacturing, surprised on the upside with a strong reading of 48.9 up from June’s reading of 44.8. According to the website FXStreet, “we expect to see ISM break the important 50 level with a reading of 51, which is slightly above the consensus expectation.”
I’m also looking for a number north of 50, adds Terranova. But if we don’t get it or if the market is soft on the news, trade carefully. It could be a sign that market wants to sell-off.
Employment
Economists polled by Reuters forecast job losses of 225,000 for August, which would be a slight improvement from 247,000 lost in July. But they expect the unemployment rate to rise to 9.5 percent in August from last month's 9.4 percent.
You can count on Fast Money for a wide range of proprietary trades on employment data -- that's coming later in in the week.
- Desperately Seeking Dividend Yield
- Tech Is Trying to Tell You Something: Terranova
- Charts Suggest S&P Revisits Flat on Year: Top Analyst
- Airlines Taking Flight?
- Three Stocks For Thursday
- Next Stop for Oil - $88.55
- QE3 Likelihood Still ‘Pretty Good’: Jan Hatzius
- Dennis Gartman Buying Gold and Stocks
- Doug Kass: Facebook Feels Like AOL Time Warner
- Guy Adami: A Real Life Iron Man
______________________________________________________
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 your e-mail to .
Trader disclosure: On Aug 31st, 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); Terranova Owns (AMZN), (FCX), (JPM), (SU), (WFT); Terranova Is Short (SHLD); Terranova Is Short (ESS); Terranova Owns (CCL) Puts; Terranova Works For (VRTS); Finerman Owns (PDE); Finerman Owns (RIG); Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC), Finerman Owns (WFC) Preferred Shares ; Finerman's Firm Owns (MSFT), (NOK), (WMT), (PBR), (PDE), (RIG), (TBT); Finerman's Firm Is Short (USO), (IYR), (IJR), (MDY), (IWM); Najarian Owns (BAC) & Short (BAC) Calls ; Najarian Owns (BUCY) & Short (BUCY) Calls; Najarian Owns (HGSI) Call Spread; Najarian Owns (FCX), Owns (FCX) Put, Is Short (FCX) Calls; Najarian Owns (JPM) & Is Short (JPM) Calls ; Najarian Owns (MS) And Is Short (MS) Call; Najarian Owns (MSFT) And Is Short (MSFT) Call; Najarian Owns (PALM) Calls; Najarian Owns (TXT) Call Spread; Najarian Owns (TEVA) Calls; Najarian Owns (C) & Short (V) Calls; Najarian Owns (WFT) Call Spread; Najarian Owns (YHOO) Call Spread; Najarian Owns (ETFC) Calls
Data is a real-time snapshot *Data is delayed at least 15 minutes
