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Your Tuesday Afternoon Trades -- Ahead Of The Close

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How are the Fast Money traders gaming potential movers -- into Tuesday's close?

BUY XHB ON STRENGTH? With the homebuilders ETF up over 2% today, should you buy on strength?

I wouldn’t chase it, counsels Jared Levy of Peak6. However, if you’re long stock I’d play it with a covered call or sell the 12-put in June.

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BUY DOLLAR? With the dollar trading higher today, should you buy?

I think the dollar was completely oversold and expect there is 200-300 points on the upside still, speculates Greg Troccoli of Opalesque.

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BUY APPLE ON STRENGTH?Apple continues higher today, should you buy on Morgan's upgrade?

Shoter-term I’d hold off, counsels OptionMonster Jon Najarian. But on a pull-back I’d get in, for the longer term. I agree with Morgan Stanley that the stock could go to $185.

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BUY GOLD ON WEAKNESS?Gold is trading to the downside, is this a good buying opportunity?

I’d stay with what’s working, counsels Fast Money trader Joe Terranova. Gold challenged $935 and is now back above $950.


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Trader disclosure: On May 20th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;

Terranova Is Long Gold Futures
Terranova Owns Oil Futures
Najarian Owns (KBH) & (KBH) Calls
Levy Is long Oil Futures