Fast Forward: Wednesday

Following are the big catalysts that the Fast Money traders expect will move the market or sectors of the market on Wednesday February 24th.

NEW HOME SALES

The News: The Commerce Department will report December new-home sales on Wednesday at 10am.

The Trade: : I expect to hear the data get worse, says Guy Adami. I'm relatively bearish. If you want to be in the space, the only stock I’d trade is long Home Depot .

Symbol
Price
 
Change
%Change
HD
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HUMPHREY-HAWKINS

The News: Ben Bernanke speaks before Congress in his annual Humphrey-Hawkins testimony.

The Trade: I think we may get some dollar weakness out of the testimony, says Tim Seymour.

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OIL INVENTORIES

The News: The weekly oil inventory report will provide much needed guidance on gasoline supply levels in the U.S.

The Trade: Last week oil went up on bearish stats, reminds Joe Terranova. I’m a buyer.

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TREASURY AUCTION

The News: $42 billion in 5-year notes go on sale at 1pm.

The Trade: I think the auction will be uneventful, says Karen Finerman.

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TOYOTA IN CONGRESS

The News:Toyota’s CEO Akio Toyoda will apologize to Congress for the car maker’s safety woes.

The Trade: I think there may be some cultural issues which make the testimony clumsy and, as a result, the stock could suffer, says Tim Seymour.

Symbol
Price
 
Change
%Change
7203.T
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Trader disclosure: On February 23, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Kaminsky Owns (EXPD), (EPV); Kaminsky Owns (LULU) Puts; Terranova Owns (IBM), (QCOM), (GOOG), (EMC), (AAPL), (DELL), (MSFT); Najarian Owns (HK) Call Spread; Najarian Owns (INTC) Calls; Najarian Owns (MS); Najarian Owns (RSH) Call Spread; Adami Owns (INTC), (GS), (AGU), (MSFT), (NUE), (C), (BTU), (AGU); Finerman's Firm Is Short (IJR), (IWM), (MDY), (SPY), (UNG),, (USO); Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm And Finerman Own (CVS), (GOOG), (JPM), (WFC); Finerman's Firm Owns (IBM), (TGT), (WMT)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (SKT)

For David Barse
Third Avenue Management Owns (WY)
Third Avenue Management Owns (ECA)
Third Avenue Management Owns (KEY)
Third Avenue Management Owns (BAM)

For Jared Levy
Peak6 Investments Owns And Has An Options Position In (AAPL)
Peak6 Investments Owns And Has An Options Position In (CERN)
Peak6 Investments Owns And Has An Options Position In (MDRX)
Peak6 Investments Is Short And Has An Options Position In (QSII)
Peak6 Investments Owns And Has An Options Position In (IBM)
Peak6 Investments Is Short And Has An Options Position In (ACN)
Peak6 Investments Is Short And Has An Options Position In (CRM)
Jared Levy Recommends Being Short (AAPL) Call Options In His Options Trade Alerts Account

For Dennis Gartman
Funds Managed By Dennis Gartman Are Short Euro
Funds Managed By Dennis Gartman Are Short British Pound
Funds Managed By Dennis Gartman Are Long Canadian Dollar
Funds Managed By Dennis Gartman Are Long Australian Dollar
Funds Managed By Dennis Gartman Own (PGH)
Funds Managed By Dennis Gartman Own (GLD)


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