Signs That The Market May Be Turning Around

By now you’ve probably heard about everything that could go wrong and trigger another bear market. But what about the things that could go right?

Is it so unthinkable that something good might happen?

According to the Fast Money desk it’s not unthinkable at all. In fact positive catalysts could be right around the corner.

Here’s what the gang is looking for:

- M&A could put a bid under the market, muses Karen Finerman. If we start to see deals wade back into the market it would be a nice thing.

- Resolution to financial regulation would be positive, says Anthony Scaramuuci as well as clarity on taxation next year.

- China revaluing the yuan would be bullish, says Joe Terranova. I expect to see that by the end of the year.

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Trader disclosure: On June 8, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (IPSU), (BX), (PFE), (FTO), (RSX), (TER), (AXP), (BMO), (BBY), (DIS), (XCO), (SWN), (AAPL), (IPI), (SU), (V), (TEVA), (FXB), (GLD); Adami owns (AGU), (MSFT), (C), (GS), (INTC), (NUE), (BTU); Finerman’s firm owns (AAPL); Finerman owns (BP) calls; Finerman Owns (RIG) calls; Finerman’s firm owns (RIG) calls; Finerman owns (MCD); Finerman owns (JPM) calls; Finerman owns (BAC) calls; Finerman’s firm owns (JPM); Finerman’s firm owns (BAC); Finerman’s firm owns (C); Finerman owns (HPQ); Finerman’s firm owns (HPQ); Finerman owns (GLW); Scaramucci owns (AAPL), (MCD), (JPM), (BAC), (C), (WFC), (GOOG); Kelly owns (GS) puts; Kelly owns (SPY) puts: Jon Najarian owns and has sold calls against (MCD); Jon Najarian owns and has sold calls against (JPM); Jon Najarian owns and has sold calls against (BAC); Jon Najarian owns and has sold calls against (C); Jon Najarian owns and has sold calls against (WFC); Jon Najarian owns and has sold calls against (USB); Jon Najarian owns and has sold calls against (AAPL)l Jon Najarian owns and has sold calls against (GS)

For Joe Terranova
Terranova works for (VRTS)
Terranova is chief market strategist of virtus investment partners, ltd.
Virtus investment partners owns more than 1% of (AMKR)
Virtus investment partners owns more than 1% of (IGE)
Virtus investment partners owns more than 1% of (DBV)
Virtus investment partners owns more than 1% of (XLB)
Virtus investment partners owns more than 1% of (XLV)
Virtus investment partners owns more than 1% of (XLP)
Virtus investment partners owns more than 1% of (XLY)
Virtus investment partners owns more than 1% of (XLI)
Virtus investment partners owns more than 1% of (XLU)
Virtus investment partners owns more than 1% of (DRYS)

For Anthony Scaramucci:
Skybridge Capital owns (AAPL)
Skybridge Capital owns (MCD)
Skybridge Capital owns (JPM)
Skybridge Capital owns (BAC)
Skybridge Capital owns (C)
Skybridge Capital owns (WFC)
Skybridge Capital owns (GOOG)

Brian Kelly
Kanundrum Capital is short(AMZN)
Kanundrum Capital is short(RCL)
Kanundrum Capital is short(XLY)
Kanundrum Capital is short(AFL)
Kanundrum Capital is short(CME)
Kanundrum Capital is short(EWI)
Kanundrum Capital is short(EWO)
Kanundrum Capital is short(GS)
Kanundrum Capital is short(HIG)
Kanundrum Capital is short(XLF)
Kanundrum Capital is short(FCX)
Kanundrum Capital is short(XLB)
Kanundrum Capital is short the Euro
Kanundrum Capital is short the Pound
Kanundrum Capital is short the Swiss Franc
Kanundrum Capital owns (GLD)
Kanundrum Capital owns (GDX)
Kanundrum Capital owns (GDXJ)
Kanundrum Capital owns (AUY)
Kanundrum Capital owns (GFI)
Kanundrum Capital owns (TLT)
Kanundrum Capital owns U.S. dollars

For Chris Caso
Susquehanna makes a market in (BRCM)
Susquehanna makes a market in (INTC)
Susquehanna makes a market in (MCHP)
Susquehanna makes a market in (NVDA)
Susquehanna Financial and/or its affiliates beneficially own 1% or more of (MCHP)

Matt Simmons
***No Disclosures***

David Threlkeld
***No Disclosures***

Colin Gillis
***No Disclosures***

Scott Nations
***No Disclosures***


CNBC.com with wires