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Your Next Trades: RIM, Energy and Newmont

Tuesday, 29 May 2012 | 2:07 PM ET

Looking for the next big trade?

The Fast Money pros have the following stocks on their radar.

Are they on yours?

RIM

The catalyst: Published reports suggested RIM, which employs about 16,500 people, plans to bring its workforce closer to 10,000 by early next year.

The trade: The stock just can’t get off the mat, says Jon Najarian. That says to me institutions just aren’t buying the turnaround strategy.

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XLE

The catalyst: With concerns about the economy looming over the market, investors may have rotated money into the Energy ETF, for its dividend paying companies.

The trade: I think the XLE is buyable against $63.50, says trader Steve Cortes. The charts suggest the ETF has made a double bottom and I think the space is oversold.

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Newmont Mining

The catalyst: Newmont and other miners have been under pressure with the stronger dollar generating headwinds for gold and related stocks.

The trade: I’m long the GDX, says trader Steve Grasso. If the market stabilizes, I think we’ve seen a near-term bottom in the space, but that’s only if the market stabilizes here – and that’s a big if.

Money in Motion: Bullish on the Euro?
The FMHR traders weigh in with their top three trades today, including Research in Motion, and Newmont Mining. Also, Paul Richards, UBS Head of Global FX, provides perspective on the how to play the euro amid continued concerns in the euro zone.



Posted by CNBC's Lee Brodie

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Trader disclosure: On May 29, 2012 , the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Jon Najarian is long AAPL CALL SPREADS; Jon Najarian is long BAC CALL SPREADS; Jon Najarian is long GS CALL SPREADS; Jon Najarian is long INTC CALL SPREADS; Jon Najarian is long IBM CALL SPREADS; Jon Najarian is long CIEN CALL SPREADS; Jon Najarian is long LM CALL SPREADS; Jon Najarian is long DDMG; Jon Najarian is long CIGX; Jon Najarian is long CBOE; Jon Najarian is long CME; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long D; Steve Grasso is long FRO; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MO; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long XLU; Steve Grasso is long ZAZA; Steve Cortes is long XLE; Steve Cortes is long CLX; Steve Cortes is long AZP; Steve Cortes is short COH; Steve Cortes is short JWN; Steve Cortes is short XHB VS. S&P LONGS; Steve Cortes is short EUR CURRENCY

For Michael Binetti
UBS AG, its affiliates or subsidiaries beneficially owned 1% or more of a class of the following companies' common equity securities as of last month`s end (or the prior month`s end if this report is dated less than 10 days after the most recent month`s end): JCP
The U.S. equity strategist, a member of his team, or one of their household members has a long common stock position in NKE
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and investment banking services are being, or have been, provided.: KOH
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and investment banking services are being, or have been, provided.: RL
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-securities services are being, or have been, provided.: KOH
This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and non-securities services are being, or have been, provided.: RL
Within the past 12 months, UBS Securities LLC has received compensation from this company/entity: KOH
Within the past 12 months, UBS Securities LLC has received compensation from this company/entity: RL


CNBC.com with wires.

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