“We have a pulse!” says Jeff Macke. Get long on the news of the resignation, Guy Adami says, but take profits quickly. If the stock hits $32, he would get out. Pete Najarian and Eric Bolling also like Yahoo (YHOO) here, but it’s still “a long distant second from Google (GOOG),” Pete says.
Barreling Toward $70
The headline:Oil Nears $70 For 1st Time Since September As Nigerian Strike Looms
Oil prices going higher means the whole industry goes higher, Eric says, and that lifts the S&P. He thinks every investor should have some money in oil. He recommends two ETFs: Oil Services HOLDRS (OIH) and the Energy Select Sector SPDR (XLE).
China’s New Record
The headline: China Market Jumps 3.1% To New Record High, Fully Recovering From Sell-Off
With China on fire, Pete recommends Baidu.com (BIDU) which he believes still has plenty of upside left. Yahoo is nothing compared to Baidu’s future potential he says. He and Guy like the iShares FTSE/Xinhua China 25 Index (FXI).
Trade Update: Steel Stocks Too Hot?
The headline: Are Nucor, Steel Stocks Still Too Rich?