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Your First Move For Wednesday June 16th

Tuesday, 15 Jun 2010 | 6:05 PM ET

Here’s our Fast Money Final Trade. Our gang gives you tomorrow’s best trades, right now.

Joe Terranova suggests getting out of Best Buy.

Guy Adami recommends longAkamai .

Karen Finerman prefers long JPMorgan .

Steve Grasso thinks Tenneco is a buy.

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BEHIND MICROSOFT'S SURPRISE RALLY

Shares of Microsoft spiked for no clear reason on Tuesday, with the sharp move higher intriguing the traders.

What do they make of it?

A rebalance is coming on Friday June 25th in the Russell and it might have an impact on the way money managers are allocating, speculates Joe Terranova.

Microsoft is infamous for being a laggard, adds Steve Grasso. With the market sharply higher money managers tend to look for a stock that has underperformed and lately that’s Microsoft.

Fast Money Final Trades
The Fast Money traders share their final trades of the day.

Click here to see other Final Trade posts.

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Trader disclosure: On June 15, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Finerman and Finerman’s Firm owns (AAPL); Finerman’s Firm owns (BAC) stock and calls; Finerman and Finerman’s Firm own (BAC) preferred; Finerman and Finerman’s Firm owns (BBY); Finerman owns (BP) calls; Finerman and Finerman’s Firm owns (C); Finerman and Finerman’s Firm own (CVS); Finerman owns (GLW); Finerman (JPM); Finerman’s Firm owns (RIG); Finerman’s Firm owns (WMT); Finerman’s Firm is short (IJR); Finerman’s Firm is short (IWM); Finerman’s Firm is short (MOY); Finerman’s Firm is short (SPY); Terranova owns (IPSU), (BX), (PFE), (GMCR), (RSX), (TER), (AXP), (BMO), (BBY), (DIS), (XCO), (SWN), (GLD), (AAPL), (IPI), (SU), (V), (TEVA), (FXE), (FXB); Terranova owns UK Pounds; Terranova owns Euros; Terranova is short the US Dollar; Terranova owns S&P Futures; Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Grasso owns (ABK), (BAC), (BGP), (C), (DYN), (JPM), (LPX), (NDAQ); Kelly owns (GLD); Kelly owns (GDXJ); Kelly owns (BP) puts; Kelly is short (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 (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 Steve Grasso
Stuart Frankel & Co and it’s partners own (BAX)
Stuart Frankel & Co and it’s partners own (CUBA)
Stuart Frankel & Co and it’s partners own (DHR)
Stuart Frankel & Co and it’s partners own (GERN)
Stuart Frankel & Co and it’s partners own (HSPO)
Stuart Frankel & Co and it’s partners own (MERC)
Stuart Frankel & Co and it’s partners own (MSFT)
Stuart Frankel & Co and it’s partners own (NWS.A)
Stuart Frankel & Co and it’s partners own (NYX)
Stuart Frankel & Co and it’s partners own (PDE)
Stuart Frankel & Co and it’s partners own (PFE)
Stuart Frankel & Co and it’s partners own (PRST)
Stuart Frankel & Co and it’s partners own (RDC)
Stuart Frankel & Co and it’s partners own (SYMC)
Stuart Frankel & Co and it’s partners own (TLM)
Stuart Frankel & Co and it’s partners own (TRV)
Stuart Frankel & Co and it’s partners own (XRX)
Stuart Frankel & Co and it’s partners own (SDS)
Stuart Frankel & Co and it’s partners own (TBT)
Stuart Frankel & Co and it’s partners are short (QQQQ)
Stuart Frankel & Co and it’s partners are short (AAPL)

Dan Niles
Niles and Alpha One Capital own AAPL, BIDU, PWER, VECO, BMI, ITRI, AKAM, AMR & AAI
Niles and Alpha One Capital are short BBY, STD, BBVA, UBS

Scott Nations
Scott Nations owns (MSFT)

  Price   Change %Change
AKAM
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BBBY
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JPM MLP ETN
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MSFT
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TEN
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  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

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  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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