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Western Digital & 3 Other Stocks Poised for Short-Term Bounce?

Monday, 5 Dec 2011 | 1:32 PM ET

Looking for short-term trading ideas? The following 4 stocks could be gaining traction right now!

According to Morgan Stanley the following belong on your trader radar as potential gainers.


StockTrading Thesis
Western Digital share price should rise over next 60 days due to a faster than expected recovery from the Thailand floods
American Eagleshare price should within 45 days due to stronger than expected guidance
St Judestock oversold
Medtronicsstock oversold


If you’re looking at Western Digital, Steve Grasso says wait on more day. “The move started on Friday. This is the second day. I want to see 3 days of gains for confirmation in that move.”

Meanwhile, trader JJ Kinahan thinks there may be better plays in specialty retail than American Eagle. “If you’re going to play that area of the market, I’d look at Abercrombie instead,” he counsels.






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Trader disclosure: On Dec 5, 2011, 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 AKS; Grasso owns AMR; Grasso owns ASTM; Grasso owns AVAV; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns PRST; Grasso owns S; Grasso owns XLU; Kelly is long IWM; Kelly is long EURO; Kelly is long Italian bonds; Kelly is long KRE; Kelly is long Aussie dollars

For Steve Grasso
Stuart Frankel & Co. and its partners own CSCO
Stuart Frankel & Co. and its partners own CUBA
Stuart Frankel & Co. and its partners own GERN
Stuart Frankel & Co. and its partners own GM
Stuart Frankel & Co. and its partners own HPQ
Stuart Frankel & Co. and its partners own HSP
Stuart Frankel & Co. and its partners own HSPO
Stuart Frankel & Co. and its partners own JPM
Stuart Frankel & Co. and its partners own MET
Stuart Frankel & Co. and its partners own MSFT
Stuart Frankel & Co. and its partners own MU
Stuart Frankel & Co. and its partners own NYX
Stuart Frankel & Co. and its partners own PRST
Stuart Frankel & Co. and its partners own RDC
Stuart Frankel & Co. and its partners own UAL
Stuart Frankel & Co. and its partners own WFT
Stuart Frankel & Co. and its partners own XRX

For Patrick Mckeever
No disclosures

For Thomas Lee
No disclosures

For Jens Nordvig
No disclosures

For Chris King
Verizon Communications, Inc. is on the Stifel Nicolaus Income Opportunity Ideas List. This Income Opportunity Ideas List represents our Stifel Nicolaus analysts’ best yield ideas, however is not intended to represent a model portfolio. Each stock is on the Buy List, and offers what Stifel Nicolaus analysts believe are companies with solid fundamentals, a favorable valuation, and a current dividend higher than that of the S&P 500 Index. Stifel, Nicolaus & Company, Inc. makes a market in the securities of Verizon Communications, Inc.

Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services from Comcast Corporation in the next 3 months.

Stifel, Nicolaus & Company, Inc. makes a market in the securities of Sprint Nextel.

AT&T, Inc. is on the Stifel Nicolaus Income Opportunity Ideas List. This Income Opportunity Ideas List represents our Stifel Nicolaus analysts’ best yield ideas, however is not intended to represent a model portfolio. Each stock is on the Buy List, and offers what Stifel Nicolaus analysts believe are companies with solid fundamentals, a favorable valuation, and a current dividend higher than that of the S&P 500 Index. Stifel, Nicolaus & Company, Inc. makes a market in the securities of AT&T, Inc.



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