ON A TECH HIGH
The headline: Is It Too Late To Buy Tech Leaders Google (GOOG) and Apple (AAPL)?
The word: Jeff Macke says he thinks Apple is going higher. Watch it hit $130, Jeff says. Pete Najarian adds that Morgan Stanley has predicted AAPL could go to $150 a share.
MOM AND POP RALLY
The headline: When Will Retail Investor Join Rally?
The word: Guy Adami says retail investors are alive and well. He thinks retail investment firms such as Schwab (SCHW) and Ameritrade (AMTD) will get boiled down to 2 or 3 major players. Pete Najarian agrees there will be consolidation and adds that options activity suggests Ameritrade, E*Trade (ETFC), OptionXpress (OXPS) will come into play.
NO GOLD STAR
The headline:Goldman’s (GS) Alpha Fund Is Underperforming
The word: Guy Adami says if this is the worst thing anyone can say about GS, go out and buy this stock tomorrow. Guy adds GS is well on their way to earning $26/ share this year. With a P/E ration of 10 – that makes GS a $260 stock conservatively, he adds.
related investing news
BIOTECH BUYBACK
The headline:Biogen Indec (BIIB) Surges 6% on $3B Stock Buyback
The word: Pete Najarian says its strange that the money isn’t going into R&D. Biogen must think buying back stock is the better move, he explains. In the biotech space Pete likes Genentech (DNA) calling the stock “very cheap." Pete also likes Amylin Pharama (AMLN) for its diabetes drug.
SPLIT TRADES
The headline:Tesoro (TSO), Potash (POT) Announce Stock Splits Wednesday
The word: Eric Bolling says he loves both stocks and adds both brought their sectors up.
PAY MORE FOR PAYLESS?
The headline:Payless Shoes (PSS) Shares Jump 5% on Strong Earnings
The word: Jeff Macke says sell the stock if you’re long.
POST: STRAY-ROD
The headline: New York Post Reports A-Rod Visited Strip Club
The word: Eric Bolling says the photo of A-Rod wearing True Religion (TRLG) jeans outside a strip club sent the stock up 15%. Jeff Macke jests that the play is Clorox (CLX) because after those headlines A-Rod needs to get clean and Blue Nile (NILE) because A-Rod is probably in the market for some expensive jewelry.
Word On The Street
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Trader disclosure: On May 30, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:Najarian Owns (AAPL), (BIIB), (CBH); Bolling Owns (ICE), (NMX), Gold, Silver, Natural Gas, Coffee, Sugar; Bolling Is Short (FXI) And Is Long (FXI) Puts Coronat Capital Management Owns (GSOL)
