Here’s our Fast Money Final Trade. Our gang gives you tomorrow’s best trades, right now.
Tim Seymour suggests longKimberly Clark .
Guy Adami recommends long Apache .
Karen Finerman prefers longFlowserve .
Joe Terranova says stay with the Russia ETF .
------------
WHAT HAPPENED TO DIEBOLD?
Talk about the need for a circuit breaker. Did you see what happened with Diebold on Wednesday?
Shares tumbled 35% after a headline crossed that said executives at the firm were being accused of accounting fraud.
That sounds pretty negative.
Well, guess what? It’s something the market already knew – the charges were filed earlier in the year.
Wednesday’s development was that they were actually announcing a settlement not an inquiry. The headline wasn't quite accurate.
Why does all this matter?
It's a situation where a 5 minute hold would have been useful, explains Karen Finerman. Somebody really got burned in the sell-off and those trades will hold.
Click here to see other Final Trade posts.
______________________________________________________
Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to fastmoney@cnbc.com.
Trader disclosure: On June 2, 2010, 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 (SWN), (GLD), (IPSU), (RSX), (PFE), (TER), (APA), (AXP), (BMO), (BBY), (DIS), (XCO), (AAPL), (CVS), (IPI), (TEVA), (FXB); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT); Kelly Owns (FXE) Calls; Kelly Owns (IBM) Calls; Kelly Owns (STD) Calls; Kelly Owns (NBG) Calls; Jon Najarian Owns (GS), (JPM), (CAM), (BP); Finerman’s Firm Owns (AAPL); Finerman Owns (BAC); Finerman’s Firm Owns (BAC); Finerman Owns (BBY); Finerman’s Firm Owns (BBY); Finerman Owns (BP) Calls; Finerman’s Firm Owns (GOOG); Finerman’s Firm Owns (GS) Calls; Finerman Owns (HPQ); Finerman’s Firm Owns (HPQ); Finerman Owns (JPM) Calls; Finerman’s Firm Owns (JPM); Finerman Owns (RIG) Call, Puts & Stock
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 (AMKR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBV)
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 (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (DRYS)
For Brian Kelly
Kanundrum Owns (IBM)
Kanundrum Owns (XLK)
Kanundrum Owns (GFI)
Kanundrum Owns (FCX)
Kanundrum Owns (CLF)
Kanundrum Owns (GLD)
Kanundrum Owns (AUY)
Kanundrum Owns (GFI)
Kanundrum Owns (STD)
Kanundrum Owns (NBG)
Kanundrum Is Short (CME)
Kanundrum Is Short (STT)
Kanundrum Is Short (XLF)
For Collin Gerry
Raymond James & Associates co-managed a follow-on offering of (HERO) in Sept. 2009 Raymond James & Associates is a nasdaq market maker in (HERO) Raymond-James & Associates received non-securities-related compensation from (HERO) in past 12 months
For David Levy
Levy Owns U.S. Tresuries
Levy Own Options In Euro-Dollars Futures
Levy Own Gold
For Mike Khouw
