Trade Tomorrow

BAD MOOD

Americans are dramatically negative on the economy, according to a new survey. With a full slate of economic data due this week, just how ugly will it get?

This week the Street is eagerly anticipating a great deal of news about the economy, explains Dylan Ratigan. Here's what's coming out:


Wednesday ADP Employment Report, Fed “Beige Book”
Thursday Jobless Claims, Pending Home Sales, February Retail Sales
Friday Jobs Report

I’m expecting the data to be lousy, says Jeff Macke, but hoping that’s already priced into the stock.

I always look at the fundamentals of a company, says Karen Finerman. That's what determines where I buy its stock. And don’t pay too much attention to results of a survey, which was mentioned above.

I agree, adds Pete Najarian.

I agree, adds Pete Najarian.

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BUYBACK BOOM

What does it mean for the market when a record number of companies announce buybacks?

Buybacks occur all time for a wide number of reasons, explains Jeff Macke. I think we’re seeing more this year because companies have strong balance sheets and need to do something with that cash. Both IBM (IBM) and Cisco (CSCO) are examples.

Take a look at Chesapeake (CHK), counsels Pete Najarian. Someone from the board is buying a large number of shares. I think when an officer of the company puts his or her own money on the line it speaks volumes. Probably more than a broad based corporate buyback.

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Trader disclosure: On Mar. 3, 2008, 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 (INTC), (ATVI) (YHOO); Najarian Owns (AAPL), (C), (ETFC), (MS), (MSFT), (XLF); Najarian Owns (COP) Calls; Najarian Owns (YHOO) And (YHOO) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (MSFT), (TSO), (YHOO), (BJS); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Charles Schwab Is A Sponsor Of "Fast Money"