------
CHART OF THE DAY: VOLUME DRYING UP
The traders are closely watching the volume on the NYSE and all the major exchanges on Tuesday.
What must you know?
Volume as a whole has really cascaded lower, explains Steve Grasso. That suggests to me fund managers are very confused.
------
CISCO TRADERS TAKE PROFITS ON ANNOUNCEMENT
The traders are closely watching the action in Cisco Tuesday after the technology titan introduced a router that it says can handle 12 times the Internet traffic of the nearest competing product.
What’s the trade?
I'd look at downstream trades, counsels OptionMonster Jon Najarian. I think beneficiaries of the Cisco development could include Apple , Netflix and Google. I'd focus on all three of these names.
I’m watching QLogic , adds Pete Najarian. Options action suggests, they too, may be a beneficiary. And I also like Akamai .
------
TOPPING THE TAPE: FAST FOOD
Shares of Burger King traded higher on Tuesday despite expectations of lower third-quarter revenue and restaurant margins in the United States and Canada after bad weather in the Central and Eastern United States kept diners away.
What’s going on?
Cheesecake Factory was downgraded on Tuesday and I think the strength in Burger King may be investors betting on the trade down, says Patty Edwards.
And investors are playing laggards in the group, adds Steve Grasso. Burger King as well as Sonic are the laggards and investors are looking for them to catch up.
If you want to play fast food, I’d do it with a long position with McDonalds , says Mike Gurka of Empower.
------
TAKE YOUR POSITION: MALL STOCKS
With results from J Crew out after the bell on Tuesday and other retailers to follow later in the week, how should you game the space?
Retail Earnings Calendar
Tuesday: J. Crew
Wednesday: American Eagle / Children's Place / Hot Topic
Thursday: The Buckle / Aeropostale
Friday: Ann Taylor
What’s the trade?
I’m bullish on JCrew , says Patty Edwards. And I’d also be long Aeropostale.
I like the Buckle , adds Pete Najarian.
------
CALL THE CLOSE
Steve Grasso: I’m a buyer of the market and Visa .
Patty Edwards: I’d get long Aeropostale
Mike Gurka: I’m a buyer of the S&P above 1144
______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to fastmoney@cnbc.com.
Trader disclosure: On March 9th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), BTU); Pete Najarian Owns (BAC) Call Spread; Pete Najarian Owns (CMC) Calls; Pete Najarian Owns (ENER) Bonds; Pete Najarian Owns (INTC) Calls; Pete Najarian Owns (MCD) Call Spread; Pete Najarian Owns (QLGC) Calls; Pete Najarian Owns (C) Calls; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (USO); Finerman's Firm Owns (WMT), (YUM); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leap; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (GGP); Finerman's Firm And Finerman Own (GOOG); Finerman's Firm And Finerman Own (WFC) Prefered; Terranova Owns (GLD) March Puts; Terranova Is Short (XLY); Terranova Owns (AAPL), (EMC), (DELL), (MSFT), (GOOG); Kelly Owns (ELX) Calls; Kelly Owns (AMZN) Calls; Kelly Owns (QLGC) Calls; Edwards Owns (GLD) For Clients; Edwards Owns (GS) For Clients; Edwards Owns (INTC) For Clients; Edwards Owns (MCD) For Clients; Edwards Owns (WFC) For Clients; Edwards Owns (SPY) For Clients; Edwards Owns (QQQQ) For Clients; Jon Najarian Owns (CSCO), Is Short (CSCO) Calls; Jon Najarian Owns (AAPL), Is Short (AAPL) Calls; Jon Najarian Owns (GOOG), Is Short (GOOG) Calls; Najarian Owns (BAC) Call Spread; Najarian Owns (C) Calls; Najarian Owns (F) Calls; Najarian Owns (INTC) Calls; Najarian Owns (MCD) Call Spread
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 (EXR)
Virtus Investment Partners Owns More Than 1% Of (GOK)
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 (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLI)
For Brian Kelly
Kanundrum Capital Owns (C)
Kanundrum Capital Owns (JPM)
Kanundrum Capital Owns (GE)
Kanundrum Capital Owns (ELX)
Kanundrum Capital Owns (QLGC)
Kanundrum Capital Owns (QCOM)
Kanundrum Capital Owns (TOL)
Kanundrum Capital Owns (PHM)
Kanundrum Capital Owns (RYN)
Kanundrum Capital Owns (EWA)
Kanundrum Capital Owns (EWC)
Kanundrum Capital Owns (EWJ)
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Short Copper
Kanundrum Capital Is Short (FCX)
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short Yen
Kanundrum Capital Is Short Swiss Franc
Kanundrum Capital Is Short Treasury Notes
Kanundrum Capital Is Short (GRMN)
For Dennis Gartman
Funds Managed By Dennis Gartman Own (GLD)
Funds Managed By Dennis Gartman Are Long Gold
Funds Managed By Dennis Gartman Are Short European Currencies
For Whitney Tilson
Funds Managed By Whitney Tilson Own (WMT)
Funds Managed By Whitney Tilson Own (PFE)
Funds Managed By Whitney Tilson Own (YHOO)
Funds Managed By Whitney Tilson Own (GGP)
Funds Managed By Whitney Tilson Own (BRK.A)
Funds Managed By Whitney Tilson Own (BRK.B)
Tilson Owns (BRK.B)
Tilson Owns (GGWPQ)
CNBC.com with wires