Following are Friday's “Fast & Furious” trades - key questions into the close.
BET ON INSURANCE: Insurance firms such as The Hartford popped higher on word they will be able to access TARP money. Should you buy on the strength?
I would be a buyer, says Brian Stutland of Stutland Equities, because banks rallied when they first got TARP money and the insurers could do the same. But it’s a trade.
BUILDING PROFITS? Home retailer Lowe’s reports earnings on Monday; should you buy ahead of the numbers?
I would not buy on Friday, counsels Fast Money trader Joe Terranova. But if the stock slides next week on housing starts, I’d be a buyer on a pullback to $17.
DOES IT COMPUTE?Hewlett Packard reports profits next week. The stock is up 3% this week; do you get in before earnings?
I’m a buyer on the anticipation and a seller at the close Tuesday, counsels Dan Fitzpatrick of StockMarketMentor.com.
NO PLACE LIKE HOME: The homebuilders as a group are trading higher Friday, Should you get in ahead of key housing data next week?
Yes, replies Deutsche economist Joe LaVorgna. I think it’s a good long term story to get in and buy.
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Trader disclosure: On May 15th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;
Terranova Owns (IBM)
Terranova Owns (DELL)
Terranova Owns (INTC) & (INTC) Calls
Stutland Owns (HPQ)