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Dow Gets Pounded

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DOW GETS POUNDED:
The headline: Dow Drops 148 Points on Housing, Subprime Fears... Brokerage Stocks Drop the Most Since March... Bernanke's Tame Comments on Inflation Fail to Stem the Selling

Jeff Macke says Sears (SHLD), the homebuilders and Home Depot (HD) dragged the market lower, Tuesday.

Eric Bolling says in this environment he likes USG Corp. (USG) for gypsum. Karen Finerman agrees but thinks they’re going to miss estimates.

Pete Najarian says on Tuesday volatility spiked which says to him that there’s fear in the market.

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S&P 500
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HD
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SHLD
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OWN DEPOT?

The headline: Is Home Depot (HD) Still A Buy After Today's Profit Warning?

Karen Finerman says the magnitude of the HD buyback is important– 250 million shares “in the dutch.” She adds retail owners don’t do a good job of tendering into the dutch.

Jeff Macke agrees.

Pete Najarian doesn’t like HD because he feels they’re too closely tied to the homebuilders.

(In case you’re wondering, a Dutch auction allows a company to specify the number of shares it plans to repurchase within a set time frame, as well as a specific price range within which shareholders may tender their shares.)

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HD
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SEARS SUCKERS:

The headline: Sears (SHLD) Plunges 10% After Warning 2nd Quarter Profit May Fall As Much As 46%; Sears Also Announced $1B Buyback Tuesday

Jeff Macke says almost any other retailer is a better place to put your money than Sears and K-Mart.

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SHLD
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WEATHERING THE STORM:

The headline: Utilities SPDR (XLU) and Energy Select SPDR (XLE) May Be Best Bets To Weather Market Storm

Eric Bolling recommends owning both energy and utilities and stocks. He adds Tuesday Bank of America recommends buying the dip.

GOT 8 FRIENDS?:

The headline: Surging Mining Juggernaut Silver Wheaton (SLW) Has Just 9 Employees

Eric Bolling says he has concern because SLW’s Chairman and 3 Board members all come from Gold Corp (GG), the company that spun-off SLW. He adds if it’s not illegal own the stock.

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G
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WPM
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DOWN TO A SCIENCE:

The headline: Najarian Seeing A Big Buyer Of Call Options In Computer Sciences (CSC)

Pete Najarian says the options are unchanged with the stock down and recommends keeping an eye on this company.

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DXC
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TRADE UPDATE: FAST VS. MAD:

The headline: Bolling In The Lead 6 Months After His $50,000 Bet With Jim Cramer; Bolling Bet Cramer That Oil And Gold Would Outperform Financials This Year

The Wager: Financials vs. Oil & Gold

Cramer:Financial Select Sector SPDR (XLF) -0.57% since Jan. 10

Bolling: Oil + Gold, +22.04% since Jan. 10

*Note: Gold up 7.2%, Oil up 37%...avg return = 22.04%.

For the next 6 months Eric Bolling adds he’d still rather own oil and gold than the XLF.

A SECURE TRADE?

The headline: Symantec (SYMC) Seeing Pickup in Options Activity Following Google's Security Purchase

Pete Najarian says investors are buying a large volume of August 20 calls and that suggests to him something good is happening at SYMC.

Jeff Macke prefers McAfee (MFE) in the space.

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SYMC
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Trader disclosure: On July 10th 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 (ATVI), (JWN); Najarian Owns (DNDN),Finerman's Firm And Finerman Own (HD), (NMX), (WMT), S&P Puts Bolling Owns (ICE), (NMX), (T), Gold, Silver, Natural Gas, Copper, Corn