BIGGEST DROP IN FOUR MONTHS: FACTOR #4
The headline: Countrywide Financial (CFC) Says More Mortgage Borrowers Falling Behind on Payments
Eric Bolling says The Street expected negative news from CFC Tuesday however, the more they talked the more their stock moved lower.
Jeff Macke says credit fears will likely take a pillar of support out of this market. However, he thinks eventually there will be buying opportunities.
AFTER HOURS ACTION: BEZOS BUCKS TREND:
The headline: Amazon.com (AMZN) Soars 12% After Hours On Blowout Profit
Jeff Macke says AMZN did well in North America which he says was a surprise. Jeff tells the panel not to chase this stock, instead he prefers Blue Nile (NILE) on a dip.
He also tells the panel a smart way to trade this trend is to buy Fedex (FDX).
Pete Najarian says AMZN is also exploding in China and the stock is a big win.