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Is Gov't Gunning To Derail Rally?

Energy was a big drag on the S&P Friday as a stronger dollar sent oil bulls to the sidelines.

Across the board commodities took a breather as speculation grew that the Fed would have to make a move now that India has hiked its interest rates.

Meanwhile, health care reform also spooked the Street as Dems and the GOP head for a showdown in the House, with a special vote expected on Sunday.

What must you know before you make your next trade?

It seems to me the Vix is ready to move to the upside, muses Pete Najarian. With options now expired I can see volatility really lift.

A lot of names under performed and reversed on Friday, says Guy Adami. That sets up for an interesting Monday. I’m also watching the action in oil , he says. It wouldn’t surprise me to see oil trade down to $75.

I think the next big catalyst will be the jobs report, says Joe Terranova. And it comes out on April 2nd, Good Friday, a day when the market is closed. That should be interesting. Meanwhile, health care reform made me short Goldman, he says. If it passes I think it empowers Congress to also pass bank reform.

I also expect to see health care reform pass, adds Karen Finerman. But I don't know what to make of it. I’m just confused right now. But I can tell you I don’t want to jump in and take big positions.

ICAHN FLIP FLOPS

Fast Money friend Carl Icahn made headlines Friday by offering to buy all the outstanding shares of Lions Gate.

But Mr. Icahn was singing a different tune not too long ago.

As you might remember, on February 18th he told Fast Money, "We are not looking to take control of Lions Gate. That is not in the picture for a number of reasons. I want to make that clear."

Icahn has been in a long-running battle with the Lions Gate board over the studio’s direction and potential acquisition of MGM.

What should you know?

Personally, I like LGF at current levels, with or without Carl, says Guy Adami.





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Trader disclosure: On March 19, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Grasso Owns (AAPL); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE) ; Finerman's Firm Is Short (SPY), (IYR), (MDY), (IJR); Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC), (BAC) Preferred ; Finerman's Firm And Finerman Own (JPM); Finerman's Firm Owns (QCOM); Finerman's Firm OWns (RIG); Najarian Owns (AA) Calls; Najarian Owns (BAC) Call Spread; Najarian Owns (C) Calls; Najarian Owns (INTC) Calls; Najarian Owns (TEVA); Najarian Owns (UNH) Call Spread; Terranova Owns (QCOM), (TER); Terranova Is Short (CAL), (UAUA), (AMR), (GS)

GE Is The Parent Company Of CNBC

For Brian Kelly
Kanundrum Capital Is Short (GBPUSD)
Kanundrum Capital Is Short (EURUSD)
Kanundrum Capital Is Short (RSX)
Kanundrum Capital Owns (GE)
Kanundrum Capital Owns US Dollar
Kanundrum Capital is Short (FCX)
Kanundrum Capital (AA)
Kanundrum Capital Owns (QCOM)

For Brian Stutland
Stutland Equities is Market Maker in (VIX)
Stutland Equities is Market Maker in (SPX)
Stutland is Short (VIX)
Stutland is Short (GLD)

For Steve Grasso
Stuart Frankel & Co. Inc. And Its Partners Are Short (QQQQ)



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