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Freeport McMoRan, JPMorgan and Other Tradable Movers

Following are moves you might have missed.

Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!

Freeport McMoRan

The catalyst: With the spot price of copper tumbling, investors may have been using Freeport McMoRan as a proxy for the red metal.

The trade: This is exhibit A in my case against emerging markets, says Steve Cortes, I’d avoid EM and FCX.

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JP Morgan

The catalyst: According to published reports, federal regulators are reviewing what JPMorgan Chase told investors about its finances and the risks it took in the weeks before suffering a multibillion-dollar trading loss.

The trade: Despite the sharp declines in this stock, it’s not time to be long, says Jim Iurio. If anything I’d be short.

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Research in Motion

The catalyst: Although the catalyst was not clear, perhaps the move was due to new chatter in the blogosphere that again suggested that RIM was losing ground to competitors.

The trade: I think the stock is going into single digits, says Joe Terranova.

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Expedia

The catalyst: Piper Jaffray maintained its “Overweight” rating onExpedia and lifted its price target from $44 to $53.

The trade: That’s a new 52-week high, says Jon Najarian

Posted by CNBC's Lee Brodie

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Trader disclosure: On May 23, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long PNC; Joe Terranova is long SBUX; Joe Terranova is long SJM; Joe Terranova is long UPL; Joe Terranova is long LQD; Joe Terranova is long AAPL; Joe Terranova is long CNX; Joe Terranova is short JUNE MINI S&P FUTURES; Steve Cortes is long DEO; Steve Cortes is long CLX; Steve Cortes is long GOOG; Steve Cortes is short XHB; Steve Cortes is short COH; Steve Cortes is short JWN; Steve Cortes is short EURO CURRENCY

For Dennis Gartman
Dennis Gartman is long GOLD in DOLLAR TERMS

Michael Widner
Stifel, Nicolaus & Company, Inc. makes a market in the securities of D. R. Horton, Inc: DHI
Stifel, Nicolaus & Company, Inc. makes a market in the securities of Lennar Corporation: LEN
Stifel, Nicolaus & Company, Inc. makes a market in the securities of NVR
Stifel, Nicolaus & Company, Inc. makes a market in the securities of KB Home. Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services from KB Home in the next 3 months: KBH
Stifel, Nicolaus & Company, Inc. makes a market in the securities of Ryland Group, Inc. (The). Stifel, Nicolaus & Company, Inc. expects to receive or intends to seek compensation for investment banking services from Ryland Group, Inc. (The) in the next 3 months: RYL
Stifel, Nicolaus & Company, Inc. makes a market in the securities of Toll Brothers, Inc: TOL
Stifel, Nicolaus & Company, Inc. makes a market in the securities of PulteGroup, Inc: PHM

For Diane Jaffee
Nothing to disclose

For Marko Papic
Nothing to Disclose

Symbol
Price
 
Change
%Change
EXPE
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FCX
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JPM MLP ETN
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BB
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