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The Sell-Off Returns

THE SELL-OFF RETURNS:

The headline: Inflation Numbers Are Tame, But Falling Tech Shares Knock Stocks In Final Hours.

VIDEO0:0000:00
Word on the Street

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 Going Gets Tough...

MILE-HIGH MERGER?

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.

no talks for now

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.

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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).

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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.

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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