During Q3 a resilient stock market held its ground against the worst drop in housing prices since 1970. Meanwhile, the credit market needed the Federal Reserve to bail it out and major retailers such as Target and Wal-Mart issued shaky outlooks from. What’s in store for Q4?
END OF A QUEASY QUARTER
The headline: S&P 500 Ends Quarter Up 1.5%, Still Struggling To Escape Credit Crunch's Shadow.
The tech-heavy NASDAQ stands out this quarter with a healthy gain of 3.8% says Dylan Ratigan. Meanwhile, the Dow is up 11.3% this year, and the S&P 500 is up 7.6%.
Pete Najarian explains two weeks ago the volatility index was much higher. He thinks investors are getting more comfortable with this market.
THE WEEK: COMMODITY BOOM
The headline: Oil, Gold, Wheat Leading Commodities To Best Monthly Gain In 32 Years.
Commodity prices are up more this month than any month since 1975; says Dylan Ratigan.
Gold ended the week at $750, that’s the highest level in 27 years added Guy Adami. However, Newmont (NEM) was down 8% since it’s 52-week high, which he finds scary.
Karen Finerman feels weakness in Newmont is company specific and not related to the commodity gold.
On a related commodities note, Pete Najarian recommends BHP Billiton (BHP), Consol (CNX) and Peabody (BTU) as plays on increased demand for coal.
THE WEEK: CONSUMER STOCKS
The headline: Target (TGT), Lowe's (LOW) Warnings Set Tone For A Tough Week For Consumer Shares.
Jeff Macke feels consumers are a mixed bag. In retail, he recommends owning best of breed stocks such as TGT.
Karen Finerman agrees.
Pete Najarian says sell Target and buy Kohl’s (KSS) which he thinks has far greater upside.
THE WEEK: CHINA AMAZING
The headline: China Market Finishing Up Its Best-Ever Quarterly Performance.
China ETF (FXI) and Singapore ETF (EWS) surged to 52-week highs explains Pete Najarian.
He likes China Mobile (CHL), China Unicom (CHU) and Baidu (BIDU) as ways to play a growing society which he feels can not be denied.
Guy Adami tells investors to take profits in China Mobile.
THE WEEK: GM-UAW DEAL
The headline: General Motors (GM) Shares Surge On Landmark Agreement With United Auto Workers.
GM will add more than $30B to a new healthcare trust for workers explains Dylan Ratigan.
Jeff Macke says the deal was great for GM because it got them out of the healthcare business. He thinks it sets precedent and subsequently, Ford (F) will benefit.
THE WEEK: TECH BREAKOUT
The headline: Intel (INTC), Cisco (CSCO), Research In Motion (RIMM), Apple (AAPL) All Hitting 52-Week Highs This Week.
Pete Najarian tells the panel he’s not scared of these 52-week highs. He feels we live in a wireless world and it's growing. He also likes SanDisk (SNDK) and Micron (MU) as wireless plays.
Jeff Macke prefers Intel for PC growth.
Guy Adami recommends Microsoft (MSFT) because he expects MSFT to have a record quarter. Adami thinks $32, which was resistance will become support.
THE WEEK: SUNBEAMS
The headline: Cypress Semiconductor (CY) Breaking Out On Strength Of Subsidiary SunPower; Trina Solar (TSL) Sees Strong Gains This Week.
Pete Najarian thinks Cypress is cheap and says CY is a buy.
THE WEEK: FINANCIALS
The headline: With Buffett-Bear Report Discredited, Who Will Buy A Minority Stake In Bear Stearns (BSC)?
Karen Finerman tells the panel she’s still nervous about financials. She’s amazed they ended the quarter as well as they did.
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Trader disclosure: On Sept. 28, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (JWN), (INTC), (EMC); Najarian Owns (KSS); Najarian Owns (GS) Options; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS), (KALU), Finerman's Firm Owns (JNJ), (KFT), (TGT), (WMT), (NMX), (NDAQ), (COP); Finerman's Firm Owns Daimler Chrysler; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts