What do you expect from the 4th Quarter?
Yamada shows an S&P chart and says if she was only looking at price action she’d think the S&P could go through it’s all-time high. But, she adds there hasn’t been good volume on this rally and the S&P can’t go up in a sustainable way without good volume. She concludes there may be some deterioration and suggests the market could go lower.
Guy Adami agrees with her analysis.
Yamada on Cisco
Yamada takes an in-depth look at a Cisco chart which spans more than 10 years. This chart suggests to her that Cisco (CSCO) is moving much higher and she thinks it’s a “pounding” buy.
Yamada on Centex
Yamada says her Centex (CTX) chart suggest the stock could drop to $10 and she recommends selling. Yamada adds bottom fishing can de dangerous to one’s wealth.
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Trader disclosure: On Sept. 28, 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 (JWN), (INTC), (EMC); Najarian Owns (KSS); Najarian Owns (GS) Options; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS), (KALU), Finerman's Firm Owns (JNJ), (KFT), (TGT), (WMT), (NMX), (NDAQ), (COP); Finerman's Firm Owns Daimler Chrysler; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts