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 
 |
The sell off intensified on Tuesday with financials dragging down both the Dow [.DJIA
Loading...
()
] and S&P 500 [.SPX
Loading...
()
]. Negative sentiment prevailed despite relatively strong economic data, which showed manufacturing expanded in August for the first time since January 2008.
It appears investors remain concerned about the recovery and have decided to take some money out of the market, playing it safe ahead of the government's August employment report, which comes out Friday.
How should you navigate this nervous market?
Instant Insights with the Fast Money Traders
I wasn’t impressed by the economic numbers, says Patty Edwards of Storehouse. I’m seeing a lot of government stimulus in the numbers but not growth in the underlying economy. Combine that with the market action and I think this could be the beginning of the next leg down.
I also think the stock market may be ahead of itself right now, adds Dennis Gartman, author of the Gartman Letter. And don’t forget September is typically a volatile month.
Looking at the financials, I’m keeping a close eye on Wells Fargo [WFC
Loading...
()
], says Fast Money trader Pete Najarian. There’s been highly unusual options action in that stock.
If you’re trading Goldman [GS
Loading...
()
] I’d take profits if it closes below $158, adds Greg Troccoli of Opalesque.
-------------
SMARTPHONE TRADE
On Tuesday Credit Suisse raised its estimates for smart phone sales over the next 18 months taking an upbeat view on RIM [RIMM
Loading...
()
] and Apple [AAPL
Loading...
()
].
Credit Suisse expects the smart phone market to eventually reach 1.5 billion phones, while only about a fifth of that have been sold. "We believe smart phones represent one of the most attractive secular trends in technology," the report says.
What’s the trade?
I also like the space and am keeping a close eye on Apple, says Pete Najarian.
-------------
HOUSING SHARES ROLL OVER
Pending sales of existing homes raced to a two-year high in July, a real estate trade group said on Tuesday, giving more evidence that a recovery in the housing market was under way. Despite the bullish news the Homebuilders ETF [XHB
Loading...
()
] which tracks the sector moved lower.
What’s the trade?
I’m watching Pulte Homes [PHM
Loading...
()
], counsels Greg Troccoli. I have a stop in around $11.75. But I’d be a selective buyer of this sector on the dip.
-------------
COMMODITY STOCKS FALL ON GROWTH CONCERNS
Despite stabilization on the Shanghai composite, commodities investors remained jittery on Tuesday with investors selling many natural resource names including copper producer Freeport McMoRan [FCX
Loading...
()
].
What’s the trade?
I think the move in commodities has more to do with a stronger dollar [UUP
Loading...
()
] than anything else, muses Dennis Gartman.
The move may be an opportunity to play pullbacks, counsels Pete Najarian. But pick your price points carefully.
-------------
OIL CAN’T HOLD ON
Although prices moved higher immediately following the strong ISM data, by midday oil [US@CL.1
Loading...
()
] was trading lower, below $69 a barrel dragged down by the weak stock market and the potential of a stronger dollar.
What’s next?
I think the bias is to the downside, reveals Addison Armstrong of Tradition Energy. It’s a very nervous market. However, patterns in the charts suggest resistance should be around $68.
- Your First Move For Tuesday November 24th
- Pops & Drops: Cigna, Verizon...
- Giving Thanks: Energy
- Web Extra: Winning The Chocolate Wars
- Holiday Travel Outlook
- Trading The Dollar Drama
- Prepare For Large Decline In Stocks, Next Year?
- Unusual Options Action w/ Pete Najarian
- Take Your Position: Black Friday
- Mutual Fund Mondays
______________________________________________________
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 Sept. 1, 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); Seymour Owns (APPL), (BAC), (F), (SBUX); Seymour's Firm Is Short (FXI), (PBR), (RIMM); Terranova Owns (AMZN), (SU), (WFT); Terranova Is Short (SHLD), (TM); Terranova Owns (GS) Puts; Terranova Owns Dec. Gold Futures; Terranova Works For (VRTS); Najarian Owns (BAC) & Short (BAC) Calls; Najarian Owns (BUCY) & Short (BUCY) Calls; Najarian owns (C) Calls; Najarian Owns (HGSI) Call Spread; Najarian Owns (FCX) Call Spread; 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 (TEVA) Calls; Najarian Owns (V) & Short (V) Calls; Najarian Owns (WFc) Put Spread; Najarian Owns (YHOO) Call Spread ; Najarian Owns (MOS) Calls
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes