Fast Money Halftime Report

" Wasn't there that's going to have to airport get to the heart of the action as it's happening in the markets rallying back today is better than expected economic -- investor confidence spots. We're going to -- that we -- watching as we speak in the financial. See the bus -- 715 and word on the street and guess for the past few moments we didn't watch the S&P five to fight financials sector turned negative. Joke. We LC Goldman Sachs -- in Park City group. Getting it session lows not right now is this going to be over for the market because we are turning negative. On the NASDAQ and we're losing our steam and the S&P 500 is well."

" Yeah Melissa I mean it's really interesting right now we have handed the baton its earnings economic data you mention the economic data points of them are really strong this morning. However the market isn't cranky mood it's been an cranky mood since early Friday morning and back cranky mood really right now. Hasn't emphasis on technicals which looks please. And fundamentals. Really right now are not drive in the market it's all about technicals it's not about the dollar it's about technicals and a soft that it appears as though. The correction is unfolding."

" My coming -- interpretation. That you have as well we are seeing these same old trade going on in terms of the dollar is rehearsing the dollar index. Slowly higher right now you're seeing the markets turned lower and lose in the financial really. Loses our leadership group on the deck is this really just. The technical aspect of this market as opposed to the fundamentals which are you know it's illustrated by -- economic data."

" Yeah I you know I have to agree with Joe here we we don't focus that much on not on the technicals ourselves we usually have a slightly longer time horizon and some of the things were involved in. But I will admit that the conversation keeps coming back to the technicals land and the fundamentals really aren't the story here. You know with respect to the dollar mean everybody was acting as -- the strengthening dollar last week was the reason. But I'm not convinced I think it might feel a bit of a byproduct."

" Case Stockton we're talking technical technical URC yes first. In this field when you -- take a look at at the financials you know John Breaux got another technical analyst up there today an interesting note today -- Goldman Sachs and how. It was running into resistance and their -- sceptical sceptical about the entire financial sector are you also interpreting the charts. In that same way shouldn't -- be concerned about this market leadership area. I would actually are."

" thinking it has helped the market from a technical standpoint last week's pullback generated universal condition for over half of the S&P 500. Including a financial sector. You have a lot of cross ever. Crossovers and distant past -- which is an overbought oversold measure that I used and that essentially just short term tattered trend. My signal from a technical standpoint the pullback in S&P 500 at least. Did not take the market -- very important support levels so -- technical standpoint."

" You -- dot doctor Jack encounter the options at play here that you. I've seen with Goldman Sachs down by about a percent right now Citigroup below four dollars for the first time since August 17 orchard you simply protect at this point. Well I don't think the financials were any part of leadership today at all and in fact I think the financials in particular this news that Goldman. Might be shut out on their bid to buy some of these tax credits from Fannie. I think that put the focus on them and put him in the cross hairs of Washington DC and of people who were nervous about this this sector so. The financials aren't my focus at all my focus is Ford and the fantastic numbers they put up. And some of these big drug stocks of course human genome that's an amazing story but. There are others in the space as well Vertex Pharmaceuticals the RTX. So I'd say that is the leadership area right now it's not financials at all they're not leading us down they're just taken some of the -- of the financial balloon. Although with my exposure -- in the FAA's see the double short financial. And I'm and that because I do think they continue to trade soft."

" I collect -- switch gears -- you talk about port which is topping a tape shares are up more than about 9% while I'm away at cement 5% profit was eight cents. Opt for the third quarter we also heard from the CEO Alan Mulally speak with Philip thousands. One reluctant to allow it was in terms of saying that Ford is actually turned a corner. Joe terra nova you've been active on Ford in the past you interpret this as simply conservative guidance. Or should we be concerned simply because there is still weakness for instance in the European business albeit a smaller part of its overall sales but still weakness there."

" No I think this just conservative guidance he's telling you in 2011 that there will be profitability in saving about 2010. If you look at this -- you would believe that they'll be profitability in 2010 as well. Like Florida to keep it still own afforded if you look at the revenue numbers in North America I think they surprise a lot of people that they were so good."

" Doctor -- you mentioned -- yourself are you active in his name today."

" I have been this morning although I am now officially out of it. For the short term trade I took off that was a nice profit. -- what I think now is the guidance for Europe where they -- fifteen point five million units or more sold in Europe. As their part of the conference call today I thought that was another focus area for Ford but quite frankly I think the next Ford might be Motorola. Because I see a lot of activity building and Motorola over the last three or four days. And I think they could have similar very positive news to what Ford offered today that android phone is hot hot hot. So that's my area focus right now is Motorola."

" Certainly Motorola getting an upgrade by analyst Jim Stevens who will have on a show tonight -- technology and -- statement at two hour chart of the day in case you're taking a look at Qualcomm. Wolf off the next four facets of life of."

" Say in terms of a positive sentiment. O'clock content narrator because it is flirting with its 200 day moving average. After a very significant correction on rhapsody and relative basis. So it is very oversold and back domestic -- based on my metrics since November 2008. Yeah. I'm interested in the stock -- here and the 4041 dollar area which is considered support. For the long term up ten to resume an initial resistance now being closer to that 4849. Dollars I think it can get back there. I -- you like."

" Honor all our Qualcomm. Well you know I mean it's one of the things we're talking about phones here and of course it wasn't -- I just read a story about iPhone not getting as much traction in China. That's starting to wonder whether any others. Phone maker was going to have anything to work with. So I you know I guess my view here would I'd probably go with Qualcomm of the two."

" Okay let's move on to the next trade and we are watching commodities up up today with. Yes dollar. -- some weakness sudden it's the gains we've seen in the markets overall goal the big winner on the session that. That's risen over sixteen bucks -- terra -- what's your plane now. Because you've been playing the space of pretty well late."

" an apologist -- staring at the street is watching you happy now go lower for the day out I I think it is the first trading day of the month you are seeing some money flow into the commodity to natural resource names. Gold clearly a strong today the dollar which is below was -- a week earlier than is right now. And I do think if you look across the landscape of things you want -- in Q4. Nothing has changed -- natural resource base those -- to want to look at look at -- Joy Global their valuations that are clearly attractive right now."

" Great and it's just mentioning the markets a turning lower watching sitting there right now hitting. The lows for its action it is now at three dollars and 84 cents is down by more than 6%. On the session there's real concerns interestingly enough just a couple of moments ago Sandler -- analyst Jeffrey Hart putting out a notice Jesus deferred tax assets which was the issue that Mike Mayo violated on Friday that that that drag the stock down on Friday. Not a concern still the stock up finding. Any traction on the back -- the release of that meantime let's budget next trade Chinese names trading higher today after the country's first thing. And it's the eighth straight month of rising to an eighteen month hi how you like China's growth we have a China expert on fast -- NASDAQ parallel. A river twice for certain sneaky. Not -- somebody's backside."

" Well I mean I'm not a huge fan of finance textile by got a backbone that I would rather look at some of cool Internet new economy Chinese name that. You don't get the exposure to look at backside -- they're focused on the Internet and communications. The -- the new oriental education which we talked about two months ago. I think the idea after -- pulled -- 15% you know -- businesses expanding it just got ahead of itself so. I think this just reinforces. That generally bullish China story."

" Fighting is down again is there an entry level attention when they you're watching parts of 37 in change right now."

" Yeah and that lets see so little bit lower just because it's really ran ran ran surely on the momentum trade. Diets eat out just got out of 30340. Basic if -- in this range and the earnings momentum remain as potent as it has been. He got to look too -- more of the long term whole thing as well as these other names but not but I wouldn't really pile into any one of them alone."

" Okay V good -- have you and your announces that Zach Karen -- river slices. -- we RI in negative territory and the NASDAQ where -- basically flat line and the -- and as we are seeing the up financials. Really fall off a cliff right now we're seeing the vick's spike doctor. In your opinion at this point why does that signal that we're about thirty once again."

" Obama I think it's another opportunity for you perhaps to make a trade here on the short side of the events I don't know that there's any justification for all of fixed reading. North of 31 and a half. That's why we put in last Friday at 3159. We. Correct it off but rather severely right we can get their 33 is the next."

" I thought okay we'll watch for that time not a public love let's go around aren't you by herself Katie."

" Maybe."

" firings of the fullback Carey night count idea listen to my doctor -- ourselves some premium to get longer married doctor Jack. I'm I'm a little nervous into the close all be selling Giles."

" Outside the ideal they don't really well right now with the Yankees are waiting for the pulled back to buy some stuff but I agree with -- I think we're going to go lower first -- and as -- speaking the Dow is now in negative territory along with the NASDAQ that as a front."