Following are the days biggest winners and losers. Find out why shares of Citigroup (C), Wells Fargo (WFC) and KKR Finance Unit (KFN popped while Caterpillar (CAT) and Apple (AAPL) dropped.
POPS (stocks that jumped higher)
Citigroup (C) popped 4%. The country's s largest bank bounced back after scraping its lowest level since October 2005. – Jeff Macke says the financials were enormously over sold.
Wells Fargo (WFC) popped 6%. The #2 mortgage lender bounced back with the rest of financial stocks. – Eric Bolling has no opinion.
KKR Finance Unit (KFN) popped 26%. – Guy Adami predicted this stock would pop after it dropped Wednesday on a down grade.
DROPS: (stocks that slid lower)
Caterpillar (CAT) dropped 3%. The maker of construction equipment couldn't crawl all the way back from a 9% decline. - Eric Bolling likes CAT for global growth.
Apple (AAPL) dropped 3%. The darling growth stock was bruised in Thursday's selling, even after Steve Jobs exercising 120,000 options he received 10 years ago. – Pete Najarian says look at where AAPL started the year!
Ford (F) dropped 4%. The automaker fell at the prospect of a labor union strike at rival GM. Guy Adami calls the drop a heart breaker.
Freeport-McMoRan Copper & Gold (FCX) dropped 6%. The mining conglomerate sold off along with the rest of the materials companies. – Eric Bolling says copper volatility is immense. Stay away, he adds.
The Gold ETF (GLD) dropped 2%. Gold fell as investors poured into cash in a flight to safety. – Eric Bolling likes owning gold.
Sotheby's (BID) dropped 5%. The world's second-biggest auction house has given up half its gains this year.– Jeff Macke says play it for a bounce.
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Trader disclosure: On Aug 16 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money; Macke Owns (INTC); (JWN); Najarian Owns (TMA); Najarian Is Short (GS); Najarian Owns (AA) Calls; Najarian Owns Straddles In (ETFC); Bolling Owns Gold; Bolling Is Short (FXI) And Owns (FXI) Put,; Bolling Has Closed Out Of His Long Japanese Yen Futures Trade