Time to reach into the Fast Money mail bag and answer more of your questions.
Rick writes, “What’s up with Nokia (NOK)? Does it still have upside potential or should I cut my losses and move on?”
Pete Najarian says once the NAVTEQ (NVT) deal is digested, he thinks Nokia stock will go higher.
Steve from Florida
Steve writes, “I've made a good profit in XM Radio (XMSR), buying in at $8 or $9. What do I do now? Sell some XM and then buy some Sirius (SIRI)? Or just get out and go else where?”
Jeff Macke tells Steve he likes SIRI more. However, he says its 6 of one half dozen the other, because the companies will likely merge.
Joe from Michigan
Joe writes, “Early last week, EMC Corp. (EMC) put volume surged by over 50,000 contracts for two consecutive days. I read this unusual put volume as a sell signal, but to date, there has been no decline in the stock. What was the significance of the massive put action?”
Pete Najarian tells Joe often times put buying is misread. It can also be traders buying protection against the stock itself.
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Trader disclosure: On Oct 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
Macke Owns (EMC), (INTC), (SWY), (ATVI), (JWN): Najarian Owns (MON), (NAT), (VCLK): Seygem Asset Management Owns (AA), (AAPL), (ABV), (ITU), (MSFT), (TWX), (GLD), (SBUX), Seygem Asset Management Owns FEMSA: Oppenheimer & Co. Is A Market Maker In (DRYS), (ESEA), (TIVO), (VCLK), (ATVI), (ERTS), (CPKI), (RIMM)
Oppemheimer & Co. Has Received Compensation For Investment Banking Services From (ESEA) Within The Past Year, Oppenheimer & Co. Will Receive Investment Banking Compensation From (ESEA) For Services Performed Within The Past Year, Oppenheimer & Co. Intends To Seek And Expects To Receive Compensation For Investment Banking Services From (ESEA) Within The Next Three Months
Oppenheimer & Co. Is A Market Maker In (CMCSA), Oppenheimer & Co. Has Received Compensation For Investment Banking Services From Comcast Corp. Within The Past Year
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