After last week’s sell-off, what’s next? Here’s some insight from Pete Najarian and Carter Worth, Chief Market Technician At Oppenheimer & Co.
Pete Najarian expects considerable volatility for the next 3 or 4 weeks. If you’re planning to trade during that time, he recommends targeting individual names as trades. However, he expects violent ups and downs. “If you don’t have a stomach for it,” Pete says “you’re better off on the sidelines!”
Carter Worth anticipates that the S&P will drop to 1475, the level where it was before the Fed cut rates. He recommends sitting back and letting the market burn-off some volatility.
Got something to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to .
Trader disclosure: On Oct 22, 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 (HAS), (INTC), (ATVI); Najarian Owns (AAPL), (GOOG), (NDAQ), (RACK), (YHOO) (CY); Finerman Owns (GS), (COV); Finerman's Firm Owns (ASD), (CTX), (MO), (NYX), (NMX), (WMT), (MSFT), (MDC), (TGT); Finerman's Firm And Finerman Own (HD), (KFT); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts