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Fast Money

Crazy Finish But Comeback Continues

CRAZY FINISH BUT COMEBACK CONTINUES

The headline: Another Day Of Volatile Trading As The Dow Finishes With A Gain Of 153 Points. It Had Been Up Nearly 200 Points, Before It Plunged Into Negative Territory And Then It Overcame Most Of That Loss.

Guy Adami feels that tech is leading this market. He likes names such as Juniper (JNPR) and Hewlett-Packard (HPQ).

On a related note, Dylan Ratigan explains that on CNBC, tech titan Cisco (CSCO) Chief John Chambers said the global economy is the strongest he's seen.

Pete Najarian likes CSCO as well as Coke (KO) which reached its 52 week high on Wednesday.

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Word on the Street

Eric Bolling adds that the market is jittery. He believes when CNBC dispelled a rumor involving Goldman Sachs (GS), the market turned higher.

1111700

AFTER HOURS ACTION: AIG

The headline:American International Group Inc. (AIG) Reported Better-Than-Expected Quarterly Profits On Wednesday And Sought To Calm Market Nerves About Its Exposure To Home Mortgage Market.

According to Guy Adami, AIG says “they’re comfortable with their exposure to the US mortgage market." Guy adds “I don’t know what that means,” and cautions the panel not to dive into this stock, until more information comes out.

1111530

THE BLACKSTONE COUP:

The headline  Blackstone (BX) Closes World's Largest Buyout Fund At $21.7B

Eric Bolling says this suggests to him that private equity money remains in tact and he feels it will go back to work, soon.

Pete Najarian agrees. He says deals are getting done.

Face 2 Face

BUFFETT THROWS HIS FREIGHT AROUND:

The headline  Rail Shares Jump After Buffett's Berkshire Hathaway (BRK) Raises Stake In Burlington Northern (BNI)

Guy Adami says don’t buy BNI at this level. But, he feels there will be an entry point, soon.

Pete Najarian feels differently. He thinks Buffet has set a level and investors can safely enter the rail stocks.

SAME-STORE, SAME STORY?

The headline  Will July Same-Store Sales Tomorrow Show Continuing Retail Weakness? 

Jeff Macke explains there was exceptional price action in the retail stocks. He says Saks (SKS) was up 7%, Nordstrom (JWN) was up 5% and Zumiez (ZUMZ) was also up 5%.

Jeff says it’s okay to get long Costco (COST) as an investment, but otherwise a lot of good news is already priced into retail, especially specialty retail stocks.

1111701

LIVING TOGETHER IN PHARMONY?

The headline  Can Big Pharma And Generic Drug Makers Thrive At The Same Time?

Pete Najarian likes Teva (TEVA) and Barr Pharmaceutical (BRL).

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THE BOURSE SUPREMACY:

The headline  NYMEX (NMX), Exchange Stocks Among Today's Best Performers

Eric Bolling reveals he has an office in office in the NYMEX and that he’s also a big shareholder. He also reveals that he’s hearing office gossip that suggests he’s moving to the NYSE building.

TAKE YOUR POSITION: NVIDIA:

The headline  NVIDIA (NVDA) To Report Earnings Thursday After The Bell

Guy Adami says the stock might be ahead of itself, but he recommends owning it anyway.

Pete Najarian agrees.

1111703

TAKE YOUR POSITION: DISH:

The headline  EchoStar (DISH) To Report Earnings Friday Before The Bell

Eric Bolling doesn’t like the chart and recommends staying out of the stock for now.

Jeff Macke agrees.

1111016

I DON'T LIKE IT THAT RARE:

The headline  A Steak Shortage Hits New York

Jeff Macke says prices are going up. Jeff likes Morton’s (MRT) because they hedge their steak prices.

Eric Bolling explains beef prices are among the most volatile in the commodity markets.

JACK BACK IN BOX:

The headline  Jack In The Box (JBX) Shares Rollover and Plummet On Disappointing Guidance

Jeff Macke says this stock is heavily shorted. Stay away from this stock, he adds.

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Trader disclosure: On Aug 8 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: CNBC Is A Service Of NBC Universal And Dow Jones; Najarian Owns (GS), (MEDX),(NMX, (BMY); Bolling Owns (ICE), (NMX); Bolling Is Short (FXI) But Is Bullish Long-Term