How are the Fast Money traders gaming this market into the close? Following are the “Fast & Furious” trades - hot ways to play today's market moving events.
TECH BEST PLAY? The Nasdaq was trading in the green around lunchtime; should you hop on the tech trade?
I like tech and I’d play it by getting long the XLK, says Brian Stutland of Stutland Equities.
BUY BBH? Considering the Biotech and Pharma space is holding up well this week; should you buy?
I like the BBH, reveals Bill Strazzullo of BellCurve. I think it goes to about $97 and at that level I’d take profits.
SMART PHONE PLAYS? RIMM, Palm and Apple were all trading higher Friday; should you buy the smart phone names?
I’m a buyer of RIMM, reveals Fast Money trader Joe Terranova but I think it’s okay to buy any of these names.
BUY GOLDMAN?Goldman Sachs was one of the few banking names in the green Friday;, should you get in?
I like the company long term but I wouldn’t get in here, reveals Fast Money trader Guy Adami.
TRADE TO GO: NIKE
Guy Adami recommends putting Nike stock on your radar. He thinks it’s a buy at current levels with a tight stop around $49.
CALL THE CLOSE
Guy Adami: I’m a seller. I think the market wants to go lower.
Bill Strazzullo: If I was long anything I’d be long the Nasdaq.
Brian Stutland: Options action suggests the market sells off Friday.
Joe Terranova: I’d play the QQQQ as a bullish bet on the Nasdaq
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Trader disclosure: On June 26th, 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 Owns (RIMM)
Stutland's Firm Owns (SPX)
Stutland is Short (USO)