Fast & Furious Trades: Microsoft, Lilly, Dow...


Following are the “Fast & Furious” trades - hot ways to play tomorrow's market moving events.


Microsoft’s analyst meeting takes place at company headquarters in Redmond, Washington.

I hope there’s no more bad news out of Microsoft, sighs Karen Finerman.

And that leads to the Charles Schwab Question of the Day!



Existing home sales data will be released at 10am Thursday.

I don’t expect it to look too pretty, says Joe Terranova.



Eli Lilly and Bristol Myers Squibb both come out with earnings before the bell.

I’m not looking for too much of a pop from either Lilly or Bristol , says Pete Najarian. Biotech is what's got my eye!



Dow Chemical faces the double whammy of high crude prices and a slowing economy ahead of tomorrow's earnings.

Dow is all about oil, says Joe Terranova.



3M, a maker of everything from office supplies such as Post-Its to welding equipment and fly-fishing lines, reveals earnings before the bell.

3M had some problems over the last few quarters, says Jeff Macke. I’d be cautious.



Starwood Hotels, which runs the Westin, Sheraton, and W Hotel chains, also comes out with quarterly results before the bell.

I wouldn’t touch Starwood unless you think it’s getting taken out, says Pete Najarian.

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Trader disclosure: On July 23, 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 (WMT), (COST), (MSFT), (EMC); Najarian Owns (AAPL), (COST), (TSO); Najarian Owns (YHOO) Calls, (CSCO) Calls, (SKF) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (PPH), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY); Terranova Owns (BNI), (CME), (RIMM), (VLO), (SA), (FCX), (GOOG), (INTC), (IYT), (XLF), (SU), (YHOO); Terranova Is Long September Crude Oil $154 Call; Terranova Is Short September Crude Oil $130 Put; Terranova Is Short September Crude Oil $130 Call

Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (DBV), (RWX), (LNET), (EXR), (SKT), (DLR), (IGE), (ARE), (DBC), (ABD), (OFC), (CLB), (BLV), (CNTY), (FL), (HPC), (PSPT) ,(ESS), (OIIM), (BIG), (ENG), (PFD), (DRH); Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

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