AIG DOUBLE TOP:
The headline: Eric Bolling Thinks AIG (AIG) Could Be At A Double Top
The word: The Admiral says the double top could be $72.97 and after that, he’s looking for some selling. He adds it’s purely a technical trade.
The headline: TPG, GS Capital Partners To Buy Alltel (AT) For $27.5b In Largest Telecom Takeover Ever
The word: Guy Adami says it’s the biggest deal in the telecom space. Guy recommends looking at Amdocs (DOX) a provider of wireless and hardlines.
BIG SCREEN, BIG GAINS:
The headline: DreamWorks (DWA) Shares Jump As "Shrek The Third" Sees Best-Ever Opening Weekend For Animated Film
The word: Jeff Macke says Shrek and Spider-Man opened well. Now all eyes are on Pirates of the Caribbean. He adds Children’s Place (PLCE) is highly leveraged against this movie.
NEXT STOP ON THE BUYOUT XPRESS?
The headline: optionsXpress (OXPS) Shares Surge On Rumor E*Trade (ETFC) May Make Takeover Bid
The word: Pete Najarian reveals that OXPS is being rumored as a takeout candidate. He says the June options were on fire Monday suggesting the deal could happen in the next 4 to 5 weeks.
The headline: Retail Gasoline Prices Soar To Record $3.196 Per Gallon
The word: Eric says, again, buy the dips in the refiners inclduing as Chevron (CVX), Valero (VLO), Tesosro (TSO) and Alon USA Energy (ALJ).
KERKORIAN’S BIG BET
The headline: MGM Exploding After Hours
The word: Pete Najarian says Kirk Kerkorian is increasing his position in MGM Mirage (MGM) which is already 56% - and the entire industry is being revalued in after hours trading. He adds, this will likely push the market higher tomorrow but don’t chase casino names at the open.
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Trader disclosure: On May 21, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders
Bolling Owns (DIS), Gold, Silver, Coffee, Sugar; Bolling is Short (FXI) Najarian Owns (AAPL), (GS), (OXPS), (CME), (BOT)