And I also like FedEx, he adds. FedEx had a great quarter and typically it’s correlated to Amazon. FedEx economists are looking for a 3% increase in retail sales but I'm looking for a 5% increase; I think that surprises everybody.
I’m long the RTH , says Brian Kelly. I’m trying to take advantage of what looks like a better environment for retail. But it’s a trade. I plan to take off the position on either Friday or Monday.
I’m long Tiffany , Amazon and Guess , reveals Jon Najarian. I suspect people have a little more money and think they will spend some of it on holiday shopping.
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OVERSEAS WOES
Elsewhere in the market, the traders are watching the extra yield that the market is demanding to finance the Spanish government over benchmark Germany.
James Chappel at Olive Tree securities in London is telling investors that time and time again - for any country - a gap of 4% is 'the' point of no return.
”Spain is the contagion Europe can 'not' afford. It's arguably why the EU spent two weeks forcing Ireland to where it is today,” says CNBC’s Simon Hobbs.
How should you trade?
I think we’re quickly going to the point of ‘no return,” agrees Brian Kelly. I think we’re starting to witness the internal breakup of the eurozone. I wouldn’t touch a euro-zone bank and I’d also short the euro.
Also, Germany wants to take the stimulus out of the European system, adds Joe Terranova. I think that drives the direction of both the euro and European equities.
On a related note, I expect the US dollar to appreciate from here, adds Stephen Weiss. But that’s a bet on an improving economy here in the US.
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Trader disclosure: On November 24, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova Owns (UPL), (C), (PEP), (VRTS), (OXY), (GS), (FCX), (IBM), (CRM), (MCD), (NKE) and (AAPL). Joe Terranova Owns (CRM) Puts. Joe Terranova Owns (FCX) Puts. Stephen Weiss Owns (HPQ), (UAL), (UUP), (HK), (DVN), (COP), (TSN), (JWN) and (FDX); Jon Najarian Owns (HPQ), Is Short (HPQ) Calls. Jon Najarian Owns (ORCL), Is Short (ORCL) Calls. Jon Najarian Owns (YHOO), Is Short (YHOO) Calls. Jon Najarian Owns (GS), Is Short (GS) Calls. Jon Najarian Owns (CAT), Is Short (CAT) Calls. Jon Najarian Owns (TIF), Is Short (TIF) Calls. Jon Najarian Owns (AMZN), Is Short (AMZN) Calls. Jon Najarian Owns (GES), Is Short (GES) Calls. Jon Najarian Owns (CLF) Calls. Jon Najarian Owns (SLE) Calls.
GE Is The Parent Company Of CNBC
NBC Universal Is The Parent Company Of CNBC
BRIAN KELLY
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (GDXJ)
Accounts Managed By Kanundrum Capital Own (XLK)
Accounts Managed By Kanundrum Capital Own (SMH)
Accounts Managed By Kanundrum Capital Own (RTH)
Accounts Managed By Kanundrum Capital Own (SLV)
Accounts Managed By Kanundrum Capital Own (JJG)
Accounts Managed By Kanundrum Capital Own (POT)
Accounts Managed By Kanundrum Capital Own (TIP)
Accounts Managed By Kanundrum Capital Own (IEF)
JOE TERRANOVA
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
Virtus Investment Partners own more than 1% of (ALK)
Virtus Investment Partners own more than 1% of (AMKR)
Virtus Investment Partners own more than 1% of (CASS)
Virtus Investment Partners own more than 1% of (CMS)
Virtus Investment Partners own more than 1% of (CSC)
Virtus Investment Partners own more than 1% of (CSVI)
Virtus Investment Partners own more than 1% of (FCFS)
Virtus Investment Partners own more than 1% of (IGE)
Virtus Investment Partners own more than 1% of (LDR)
Virtus Investment Partners own more than 1% of (LPHI)
Virtus Investment Partners own more than 1% of (MGRC)
Virtus Investment Partners own more than 1% of (NRCI)
Virtus Investment Partners own more than 1% of (DBV)
Virtus Investment Partners own more than 1% of (XLB)
Virtus Investment Partners own more than 1% of (XLP)
Virtus Investment Partners own more than 1% of (XLY)
Virtus Investment Partners own more than 1% of (XLF)
Virtus Investment Partners own more than 1% of (XLI)
Virtus Investment Partners own more than 1% of (XLU)
Virtus Investment Partners own more than 1% of (SOA)
Virtus Investment Partners own more than 1% of (SUBK)
Virtus Investment Partners own more than 1% of (WDFC)
Virtus Investment Partners own more than 1% of (WMB)
Virtus Investment Partners own more than 1% of (YDNT)
Virtus Investment Partners own more than 1% of (DRYS)
DENNIS GARTMAN
Funds Managed By Dennis Gartman Are Short Euro, Long Gold
Funds Managed By Dennis Gartman Are Short Euro, Long Australian Dollar
Funds Managed By Dennis Gartman Own (RJA)
CNBC.com with wires.