THE SELL-OFF RETURNS:
The headline: Inflation Numbers Are Tame, But Falling Tech Shares Knock Stocks In Final Hours.
Sell the news was the theme of the day led by the financials, explained Jeff Macke.
1490 has been a huge level in the S&P said, Guy Adami. It can’t seem to go higher.
The headline: Delta (DAL) Denies AP Report It Is In Merger Talks With United Airlines Parent UAL (UAUA).
Guy Adami doesn’t understand why consolidation in the airlines would be a good thing. Any rally in the airlines should be sold, he said.
Jeff Macke and Pete Najarian both agreed.
OIL BOUNCES BACK:
The headline: Crude Oil Rebounds 3.4% To $94.30 After 2-Day Sell-Off
Guy Adami explained the bounce was off tough talk from the Saudi’s. He’s still expecting oil to go lower.
ICAHN’S NEW STAKES:
The headline: Icahn Reports New Stakes In Genzyme (GENZ) and Anadarko (APC) Petroleum
Karen Finerman said he also disclosed a stake in Children’s Place (PLCE).
AFTER HOURS ACTION: NETWORK APPLIANCE (NTAP)
The headline:Network Appliance Inc (NTAP) posted a better-than-expected quarterly profit Wednesday sending shares up more than 12%.
Pete Najarian liked this stock for worldwide growth.
Guy Adami preferred EMC Corp. (EMC) in the same space because he felt it has better valuation.
OPTIONS ACTION: MONSTER ACTION:
The headline: Pete Seeing Unusual Options Action In Savient Pharmaceuticals (SVNT).
Najarian recommended keeping an eye on Savient for their gout drug which is late stages.
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Trader disclosure: On Nov. 14, 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 (DIS), (YHOO), (EMC); Najarian Owns (AMTD) Options, (C) Options, (CSCO) Options, (GOOG) Options, (GS) Options, (XLF) Options, (YHOO) Options, (EMC) Options; Najarian Owns (MER) Options And Is Short (MER); Finerman's Firm And Finerman Own (GS), (KALU); Finerman's Firm Owns (KSS), (NMX), (NYX), (VMSI), (YHOO), (AEO), (PLCE); Finerman's Firm Is Short (SPY), (IYR), (IJR), (MDY); Finerman's Firm Owns (LEH) Puts, (MER) Puts; Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns S&P 500 December Puts; Finerman's Firm Owns Russell 2000 December Puts; GE Is The Parent Company Of CNBC