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TOPPING THE TAPE: FORD
Ford topped the tape on Wednesday after it announced it will reduce its huge debt by another $4 billion as it continues to show signs of financial strength.
What’s the trade?
I like Ford based on valuations, says Tim Seymour.
Ford's has a proven management team; I like it too, adds Anthony Scaramucci.
I'd play it downstream with Johnson Controls , counsels Joe Terranova.
I'd put Tesla on the radar, says Pete Najarian. I think it's way overpriced. When they list options I'd buy the puts and go long Ford against it.
I’d look at a long position in Ford as well as Toyota and Tata because the auto story is a global story, says Patty Edwards on the Halftime Report.
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EURO IN CRISIS?
The euro gained against the dollar Wednesday due to relatively positive developments in Europe’s banking sector.
After much speculation about the need for loans, the ECB said that it would lend 131.9 billion euros to banks for three months, a day before 442 billion euros in 1-year loans comes due.
Analysts had worried that if a large number of banks subscribed to Wednesday's ECB loans, that implied weakness in European banks' ability to get funding.
The ECB said 171 institutions got three-month loans, while 1,121 institutions had received the 12-month loans a year ago.
The "relatively low demand" for new central bank loans helped bolster the euro, said Brown Brothers Harriman analysts.
What’s the trade?
Find out from Miller Tabak strategist Peter Boockvar. Watch the video now!
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Trader disclosure: On June 28, 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 (IPSU), (BX), (AGU), (PFE), (TER), (GMCR), (RSX), (TER), (AXP), (KO), (KR), (COST), (AMZN), (TEVA), (BMO), (DIS), (XCO), (SWN), (GMCR), (IPI), (SU), (XOM), (RDS.A), (COP), (OXY), (V), (FXB), (UPL), (JPM), (MS), ( C), (BAC), (GMCR); Terranova owns (GLD) 123 JULY PUTS; Terranova owns (GLD) July 120 puts; Terranova Owns (GS) Calls; Kelly owns (BP) puts; Kelly owns (FCX) puts; Kelly owns (GLD); Kelly owns (GDXJ); Kelly is short (GS); Seymour owns (AAPL), (BAC), (F), (MON); Pete Najarian owns (AKAM) call spreads; Pete Najarian owns (TEVA)
For Anthony Scaramucci
Scaramucci and SkyBridge Capital own (C)
Scaramucci and SkyBridge Capital own (F)
Scaramucci and SkyBridge Capital own (GS)
Scaramucci and SkyBridge Capital own (JPM)
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 (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
Accounts managed by Kanundrum Capital own (AUY)
Accounts managed by Kanundrum Capital own (GFI)
Accounts managed by Kanundrum Capital own (GDX)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own Gold
Accounts managed by Kanundrum Capital own Treasuries
Accounts managed by Kanundrum Capital own US Dollars
Accounts managed by Kanundrum Capital are short British Pound
Accounts managed by Kanundrum Capital is short (AMZN)
Accounts managed by Kanundrum Capital are short (RCL)
Accounts managed by Kanundrum Capital are short (XLY)
Accounts managed by Kanundrum Capital are short (XLE)
Accounts managed by Kanundrum Capital are short (AFL)
Accounts managed by Kanundrum Capital are short (CME)
Accounts managed by Kanundrum Capital are short (EWI)
Accounts managed by Kanundrum Capital are short (EWO)
Accounts managed by Kanundrum Capital are short (GS)
Accounts managed by Kanundrum Capital are short (HIG)
Accounts managed by Kanundrum Capital are short (RKH)
Accounts managed by Kanundrum Capital are short (XLF)
Accounts managed by Kanundrum Capital are short (XLI)
Accounts managed by Kanundrum Capital are short (FCX
Accounts managed by Kanundrum Capital are short (GFI)
Accounts managed by Kanundrum Capital are short (JOYG)
Accounts managed by Kanundrum Capital are short (XLB)
Accounts managed by Kanundrum Capital are short (XLK)
Accounts managed by Kanundrum Capital are short Oil
Accounts managed by Kanundrum Capital are short the S&P 500
Accounts managed by Kanundrum Capital are short the Canadian dollar
Accounts managed by Kanundrum Capital are short the Euro vs. Yen
Accounts managed by Kanundrum Capital are short the Aussie Dollar
Accounts managed by Kanundrum Capital are short (CAT)
Accounts managed by Kanundrum Capital are short (MET)
Accounts managed by Kanundrum Capital are short (WYNN)
For Whitney Tilson
Funds Managed By Tilson Own (BP)
Funds Managed By Tilson Own (MSFT)
Funds Managed By Whitney Tilson Own (BP), (XOM)
For Peter Boockvar
Boockvar owns Euros
For Ed Mills
***No Disclosures***
For Colin Gillis
***No Disclosures***
For Steven Weiss
Weiss is short (SLG)
For Mike Khouw
Cantor Fitzgerald makes a market in (APC)
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