Trading Tech, Industrials, & Materials

Wednesday, 6 Jul 2011 | 5:38 PM ET

By Wednesday’s close, the Fast gang had tech, industrials and materials on the radar. How should you position now?


Hoping to give its users another reason to use Facebook, Mark Zuckerberg introduced video chat on Wednesday in a partnership with Skype, the Internet calling service.

As you may remember Microsoftrecently purchased Skype for $8.5 billion.

Word on the Street
Insight on Microsoft's new offensive move against Google; Facebook announces a deal with Skype; and old tech names gain attention, with the Fast Money crew.

How should you trade these developments?

Jon Najarian is a buyer of Microsoft. He thinks the deal shows how aggressive Microsoft is becoming.

Joe Terranova is also bullish MSFT. Not only does he like the move but he thinks portfolio managers ‘under own’ this stock and believes the Facebook deal will force PMs to buy.

Stephen Weiss is more skeptical. He thinks Skype was an expensive acquisition and now wonders ‘what other arrows does Microsoft have in the quiver’?

Steve Grasso just can’t get behind a long position in Microsoft. “Price is truth,” he says. Grasso can’t get bullish MSFT until it breaks above $27



After getting whacked in the morning on China's rate hike, industrials and materials reversed course, and took off in the afternoon.

How should you trade it?

Steve Grasso tells the desk he’s a buyer of industrials and materials but due to seasonal strength and not because of the reversal on Wednesday.


Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com 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 Web site send those e-mails to fastmoney@cnbc.com.

CNBC.com and wires

  Price   Change %Change


Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • 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

Halftime Report